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Morning all…
All you need this morning…
City still leads: The UK continues to be the most attractive European location for international financial services investment according to EY’s tracker. The bad news is that the gap over France shrunk in 2020, but of course it’ll be 2021 – post-pandemic, of a sort – that gives us a real picture of the impact or otherwise of Brexit. 

Speaking of: Emmanuel Macron is laying on the gloss to his charm offensive targeted at global firms, with JP Morgan boss Jamie Dimon and Goldman Sachs chief David Solomon amongst the invitees to a ‘Choose France’ summit at Versailles at the end of the month. Macron is expected to contrast the UK’s Fortress Britain approach to international travel with the EU’s attempts to reopen faster. 

Bricks and mortar: House prices have risen again this month by an average of £2,500, per the closely watched RightMove index. It’s the largest June increase for six years but the month-on-month growth figure of less than 1 per cent might suggest that the recent boom is coming to an end.

Paying the bill: The Treasury is reportedly looking at changes to the way pension contributions are taxed as part of post-pandemic attempts to claw back a few quid here and there. The lifetime allowance could be on the table… but the triple lock won’t be.
Opinion: The Bank of England must continue Andy Haldane’s worthy work
by Ted Harvey
More…
In the crosshairs: Private equity giant Clayton, Dubilier & Rice have had a £5.5bn takeover bid for Morrisons knocked back over the weekend. The supermarket board said the offer significantly undervalues the retail giant in a statement to markets this AM. We await news of an improved offer.

Backlash: John Lewis is facing a backlash from brands over how much they are being charged to stock products with the retail giant. Dame Sharon White has reportedly tasked Alix Partners to investigate whether commission and fees could be upped. 

It’s a start: Revolut’s gross profits rose to £123m in 2020, fuelled by a surge in banking customers during the pandemic. The firm, which seems to have overcome a rocky patch related to reports of its internal culture, now has more than 15m customers and is pondering expansion in Ireland.
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Opinion: Lib Dem nimbyism in local areas comes at the expense of the country
by Eliot Wilson
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More…
How do you do, fellow kids? YouTube and Snapchat are amongst a group of social media platforms signed up to help boost vaccine rates amongst 18-29 year olds. Stickers, filters and videos will all be part of the mix. 

Crawling out of Crawley? British Airways is reported this morning to have begun a review into its continued use of Gatwick, with passenger numbers still hamstrung by the Government’s strict border policy. Virgin Atlantic and Norwegian have already consolidated operations at Heathrow.

Capita sale: Outsourcer Capita has sold its stake in joint venture Axelos, it confirmed this morning, raising just north of £180m for the firm. A trading update this morning suggested the firm was still on track with guidance.
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Kane’s struggles sum up England’s attacking failures
by Frank Dalleres
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Coronavirus update…
All figures from yesterday’s update…
Positive cases yesterday: 9,284
Deaths recorded yesterday: 6
Vaccinations: 42,964,013 have had their first dose, and 31,340,507 their second.
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Rosé Prosecco: Why this once-banned drink was the star of 2020
by Libby Zietsman-Brodie
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This week…
Results: DS Smith will drop off full-years tomorrow, with the packaging giant likely to enjoy the benefits of a global pandemic turning everybody into online shoppers. Berkeley then do the dance on Wednesday. Glaxo will issue an update on the same day.

Stateside: Jay Powell is up in front of US legislators tomorrow and investors will be watching for the slightest whiff of hawkishness (they will probably be disappointed). Consumer data on both sides of the Atlantic out on Friday.
The last word
Well knock me down with a feather…

Fair to say Tim Shipman isn’t hugely surprised by news of John Bercow’s defection to Labour
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