Dexters bets on US buyers to ride out UK’s cost of living crisis June 15, 2022 Dexters’ is “highly confident” that London’s property market will remain buoyant amid a cost of living crisis which is expected to weigh on house moving, CEO Andy Shepherd has told City A.M. today. The London real estate agent revenue has spiked more than a third over the past year, from £108.7m a year prior to [...]
Minister says government is prepping next Rwanda deportation, hours after first flight is grounded June 15, 2022 One minister has said that government is preparing the next deportation flight to Rwanda, after the first flight of the controversial re-settlement scheme was grounded by the European Court of Human Rights (ECHR) last night. The court confirmed they had granted an urgent interim measure in regards to an Iraqi national, and it is understood [...]
Ministers push back against Jacob Rees-Mogg’s plan to scrap remaining EU laws June 15, 2022 Ministers have reportedly pushed back against a plan masterminded by Brexit opportunities minister Jacob Rees-Mogg to scrap the remaining EU laws. The plan would see the last legislation thrown out on 23 June 2026, in what Rees-Mogg has described as “sunset clause” marking a decade since the EU referendum. However, two cabinet ministers have raised [...]
Bellway and Crest Nicholson shares soar as record property prices boost housebuilders June 14, 2022 Shares in Bellway and Crest Nicholson have risen this afternoon, following upbeat trading updates which signal that record house prices are filling the pockets of housebuilders. Developer Bellway has seen its sales reservations continue to climb past their pandemic heights, as demand shows little sign of slowing. The London-listed real estate firm, whose shares rose [...]
Property site OnTheMarket revenue leaps a third, but advertisers dwindle June 14, 2022 Revenue has leapt a third at property website OnTheMarket over the past year, topping £30.4m as the UK’s real estate sector swells in value. Property prices have hit new records every month this year, as the pandemic-era race and stamp duty holiday fuelled a frenzy in the market, which has bled into 2022. The market [...]
CoachHub rides pandemic momentum, snagging £164m in SoftBank-led funding round June 14, 2022 Online coaching startup CoachHub has snagged $200m (£164m) in its latest funding round, led by investment heavyweight’s SoftBank and Sofina. The Silicon Valley-approved startup, initially founded in Berlin in 2018, has several headquarters across Europe, including London. Its success comes off the back of Euan Blair’s Multiverse, which hit a valuation of $1.7bn (£1.4bn) last week. [...]
US regulators find over 75 environmental hang-ups with SpaceX’s mega-rocket Starship June 14, 2022 US regulators are still mulling the decision to hand Elon Musk’s SpaceX a launch licences for its mega-rocket Starship, after an environmental assessment found over 75 hang-ups. The eagerly awaited report from the Federal Aviation Administration (FAA) will require SpaceX to take more than 75 actions to mitigate the environmental impacts from its proposed plan [...]
Unemployment rate remains stagnant as employees on payroll hit new record June 14, 2022 The UK’s unemployment rate has remained stagnant since February, according to official figures, after it dropped slightly to 3.8 per cent. The country’s employment rate inched 0.2 per cent higher to a total of 75.6 per cent, as it continues to chase pre-pandemic levels, the Office for National Statistics has found today. It comes amid [...]
City Moves: Who’s switching jobs in the Square Mile? June 14, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Colliers Colliers has promoted into the role of operations director, who is set to oversee the estate agent’s office moves in 2023. Victoria Dent joined the Colliers’ finance department during the UK’s first lockdown as a financial [...]
Grenfell Tower to host memorial service for fifth anniversary tomorrow June 13, 2022 Five years on from the Grenfell Tower fire, a memorial service will be hosted tomorrow at the base of the tower, followed by a silent walk in the evening. 72 people, including 18 children, lost their lives on 14 June 2017, in one of the UK’s worst disasters in modern times. The government has pledged [...]