Labour promises to grant first-time buyers exclusive rights to new-builds September 24, 2021 Labour has promised to give first-time buyers “first dibs” on new-builds for six months. The party said it would prevent properties being sold off-plan to developers before locals can buy them, under plans to be set out at its annual conference. It will also state a government led by Keir Starmer would cap the amount [...]
BREAKING: China in all-out crypto crackdown as it declares all payments illegal : CityAM September 24, 2021 China’s central bank has declared that all crypto currency payments are illegal causing the global market to crash by 5.9 per cent at 11am UK time. A Q&A posted on the People’s Bank of China’s website outlining government guidelines for cracking down on cryptocurrency trading has said all crypto payments are against the law. It [...]
Avro Energy used by boss to pump cash into family firms – CityAM : CityAM September 24, 2021 The boss of Avro Energy reportedly used the recently collapsed energy firm to pump more than £3m into his family’s other businesses and accounts. The firm’s collapse has led to around 580,000 families fearing higher bills this winter and is the biggest failure of a household supplier so far amid the UK’s gas crisis. Also [...]
Evergrande misses debt payment deadline as fears over firm’s collapse mount September 24, 2021 Evergrande bondholders are yet to receive an interest payment which was due yesterday, indicating the indebted property developer is on the verge of collapse. The firm was scheduled to make a $83.5m by midnight in New York on Thursday, or noon on Friday in Hong Kong. However, two people with direct knowledge of the matter [...]
Lucrative Covid-19 contracts drive profits at outsourcer Mitie September 24, 2021 Outsourcer Mitie has lifted its profit guidance due to a string of Covid-linked contracts, which saw it clean Heathrow and Manchester airport, alongside Transport for London (TfL). It now expects operating profit before other items to hit between £145m and £155m, the company said in its half year update. “In our first quarter trading update [...]
Mexican food brand Tortilla announces AIM float intention September 24, 2021 Mexican fast food chain Tortilla has announced its intention to seek admission of its shares to trading on London’s AIM market. The restaurant brand Tortilla boasts 62 sites across the country including 50 venues operated by the group and two franchise sites in the UK. The group also operates 10 franchised sites in the Middle [...]
Ollie Phillips: Eddie Jones’s England reboot is exciting and long overdue September 24, 2021 Two years out from a World Cup you expect Eddie Jones to make big calls and do some culling, and the result, announced this week, is an exciting England autumn training squad. Of the new faces, Newcastle Falcons youngster Adam Radwan is one of those I’m looking forward to watching get a chance. His footwork [...]
Restaurants banned from taking staff tips under new legislation September 24, 2021 Pub and restaurant workers will be entitled to all of their tips under fresh government plans, impacting 2m employees. The government set out new legislation that would overhaul tipping practices on Friday, in a show of support for workers after their sector was hit hard by the pandemic. Employers will be banned from withholding tips [...]
Peel Hunt raises £112m in AIM IPO September 24, 2021 Investment bank Peel Hunt has announced it has successfully raised £112m in its AIM IPO. This fund included £40m of new capital which will go towards supporting the next phase of the company’s growth, the mid and small-cap specialist investment bank said on Friday. The placing was described as comfortably over-subscribed after attracting strong support [...]
City braces itself for more rules as Rishi Sunak orders financial regulation reviews September 24, 2021 Chancellor Rishi Sunak has ordered two immediate reviews of UK financial regulation following a report by the Treasury select committee on the collapse of Greensill Capital. In a letter published on Friday, Sunak insisted the Treasury acted “entirely appropriately” in its handling of David Cameron’s Greensill lobbying efforts. Sunak hit back at the report which [...]
