Rachel Reeves’ tax hikes are driving wealthy overseas investors to flee London Property Chancellor Rachel Reeves’ tax hikes have had the “feared impact” of driving wealthy overseas investors to flee London to escape double taxation of their worldwide income, the company behind The Shard has said. Real Estate Management (UK), which is ultimately owned by the State of Qatar, has revealed the exodus has resulted in it being [...]
The best part of Sri Lanka just got a stunning new hotel Life&Style When the Australian cricket team finished a day’s play against Sri Lanka in Galle in February, they came for a well-earned break at the Radisson Collection hotel, fives miles down the seafront.They liked it so much that when they won the series a few days later, they returned to celebrate into the early hours of [...]
The Building Safety Regulator’s near-impossible balancing act Originally implemented to tackle safety concerns in light of the devastating Grenfell fire, the Building Safety Regulator (BSR) has now been accused of hamstringing developments in the capital. Delays in the system are currently “undermining investor confidence” in the sector, “holding back the delivery of new homes and adding to uncertainty for residents”, head of [...]
Forget WeWork and Airbnb: inside the company nailing remote working July 10, 2025 From the Summer issue of City AM The Magazine: inside the remote working company appealing to a new generation of digital nomads Rows upon rows of cookie-cutter houses fill the boujee neighbourhood of Abbot Kinney in Los Angeles. In front of one, a basketball hoop stands by a double garage. It looks like all the [...]
Week in Business: The tragedy of Labour’s tax addiction July 10, 2025 From the housing market to the stock exchange, some taxes need to be reformed or reduced - but this government only wants to hike rates.
Vistry looks to ‘transformative’ government investment as profit drops July 10, 2025 Housebuilder Vistry has reported a sharp drop in profit but expects activity to pick up later in the year as the government’s affordable homes investment filters into the market. Vistry, which unseated Barratt as the UK’s biggest housebuilder last September, told markets that it expects adjusted operating profit to be £125m in the first half [...]
Watchdog probe to net £100m from listed housebuilders for affordable schemes July 9, 2025 A probe by the UK’s competition watchdog is likely to result in a collective £100m package from seven housebuilders for affordable housing schemes. The Competition and Markets Authority (CMA) probe, which looked into the anti-competitive practices of seven housing developers – Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry – was launched [...]
Close Brothers to scale back lending after motor finance hit July 9, 2025 Close Brothers is set to scale back its premium finance division in a bid to cut costs and focus on its offerings for businesses. The lender said on Wednesday it would begin to prioritise insurance products designed for businesses in its commercial lines, which the firm said offered better risk-adjusted returns and long-term growth potential. This will [...]
Will the Renter’s Rights Bill push up costs for student accommodation? July 9, 2025 The Renter’s Rights Bill is set to introduce huge changes into the UK’s property market. Landlords and tenants alike will see significant upheaval, with fixed-term tenancies abolished, no-fault evictions banned and pets allowed. But how much will all of this affect students? Unite, which is the largest provider of student housing in the UK, reckons [...]
OpenAI’s security crackdown signals new AI battle July 8, 2025 Silicon Valley’s $300bn crown jewel, OpenAI, is shifting focus from building artificial intelligence to protecting it. OpenAI, the maker of ChatGPT and arguably the most scrutinised name in AI, has imposed a sweeping internal lockdown. From biometric fingerprint scans, to offline ‘tented’ R&D zones, the San Fransisco-based firm is tightening security across the board amid [...]