Insurance brokers could face caps on commissions as FCA reviews high rise insurance market May 10, 2022 Insurance brokers could face rules limiting commissions amid the City watchdog’s review into tower block insurance coverage. The Financial Conduct Authority (FCA) was asked to review the insurance market for blocks of flats earlier this year, after housing minister Micheal Gove said he was “extremely concerned” by accelerating costs faced by leaseholders. In an update, [...]
Government slammed as ‘for NIMBYs, by NIMBYs’ as planning reform watered down May 10, 2022 The government has been criticised after references to planning reform focused on “minor and trivial issues” in the Queen’s Speech. Property bosses and campaigners have urged ministers to go further with planning reforms. The Institute of Economic Affairs (IEA) accused the government of having “unconditionally surrendered to the NIMBYs.” “The fact that the references to [...]
‘Cruel and senseless’: First asylum seekers to be notified of Rwanda relocation this week May 10, 2022 Campaigners have slammed “cruel and senseless asylum plans” as the first individuals to be relocated to Rwanda will be informed this week. The government announced that the first cohort of migrants will this week be informed they will be sent to Rwanda, under a new policy. Charities have said the plans place those fleeing persecution [...]
Ex-Monzo boss wants weekly shop to ‘feel like magic’ as Lollipop startup reveals £5m fundraise May 10, 2022 Lollipop, a grocery startup headed by a former Monzo exec, has raised £5m, as it appeals to families wanting to cut down on the time taken by the weekly shop. While a flurry of startups have looked to offer shoppers on-demand grocery delivery, ex-Monzo COO, Tom Foster-Carter, has taken a different approach to the burgeoning [...]
Future bags women’s fashion platform WhoWhatWear as it eyes US growth May 10, 2022 Publisher Future has nabbed the women’s lifestyle platform WhoWhatWear as it seeks to expand its reach in the US. Shares in the FTSE-250 firm were lifted by around one per cent in morning trading on Tuesday. Future, which owns titles such as Tech Radar and Marie Claire, has acquired WhoWhatWear from US firm Clique Brands, [...]
Brits hold back on buying sofas and fridges as cost of living climbs May 10, 2022 Brits have held back on buying big ticket items, such as furniture, as living costs spiral. Retail sales in the UK fell on a like-for-like basis by 1.7 per cent last month, compared to April 2021. Sales growth went into decline for the first time in 15 months as retailers face a balancing act between [...]
Buckingham Palace: Queen will not attend Queen’s Speech May 9, 2022 The Queen will not be reading out the Queen’s Speech at the state opening of Parliament on Tuesday. The monarch will not attend the state opening after “episodic mobility problems”. Prince Charles will instead outline the government’s priorities for the months ahead. A statement from Buckingham Palace Statement said: ““The Queen continues to experience episodic [...]
Morrisons confirms McColl’s rescue deal with thousands of jobs saved May 9, 2022 Morrisons has confirmed it will save McColl’s from collapse, after an agreement with its administrator. Thousands of jobs were left hanging in the balance as McColl’s teetered on the brink of collapse last week. However, now grocer Morrisons has confirmed it will snap up the convenience store operator through a pre-pack administration. The Clayton, Dubilier [...]
Al fresco: Publicans welcome permanent pavement licences as red tape slashed for good May 9, 2022 Hospitality bosses have welcomed news that pavement licences will be made permanent, securing the future of al fresco drinking and dining. Ministers introduced temporary licences amid the pandemic when pubs and restaurants faced periods of restrictions on indoor service. Under the Business and Planning Act 2020, the government made it possible for local authorities to [...]
Legal & General sells all properties under Bishopsgate Property Fund to £500m tune May 9, 2022 Legal & General’s asset management arm has sold all properties held by Bishopsgate Property Fund for just under half a billion pounds. Legal & General Investment Management Real Assets (LGIM Real Assets) revealed it had sold all sites for £474m, on behalf of the joint venture partnership with PGGM and Legal & General Capital (LGC). [...]
