China’s Evergrande should not bet on a government bailout, says state-backed editor-in-chief September 17, 2021 China’s Evergrande, which is battling $300bn in liabilities, should not bet on a government bailout on the basis that it is ‘too big to fail’, the editor-in-chief of a local newspaper has said. The comments from Hu Xijin, from state-backed Global Times, come as Evergrande’s shares nosedive for a fifth consecutive day amid fears of [...]
Redrow touts ‘record’ order book as revenue climbs towards pre-Covid levels September 15, 2021 Revenue at housebuilder Redrow has begun climbing towards pre-pandemic levels, as it touts a “record” order book after reinstating a dividend for loyal shareholders. Revenue hit £1.94bn in the year to 27 June, just eight per cent behind 2019, after it soared 45 per cent from 2020’s supressed figure. Profit before tax surged 124 per [...]
City Moves: Who’s switching jobs in the Square Mile this week? September 15, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Falcon posts City veteran Joe Nally to board Falcon Oil & Gas has posted Cenkos co-founder Joe Nally as a new non-executive chairman to the board of the company with immediate effect. Nally, a City veteran, [...]
Three fabulous jobs that are open at the moment September 15, 2021 If you’re on the hunt for a new job, we have some very good news. There are so many brilliant open positions on our job board at the moment – so go ahead and start your search. As a taster, here’s an idea of what to expect… Recruiting Coordinator, Everbridge Everbridge is seeking a Talent [...]
London house prices increase 2.2 per cent September 15, 2021 London has marked the lowest annual house prices growth across the UK while UK average prices returned to levels seen earlier this year. Figures from the Office for National Statistics show that average prices in the capital increased by 2.2 per cent over the year to July 2021, down from 5.1 per cent in June. [...]
Leaseholder victory: Countryside to remove ground rent doubling terms after CMA action September 15, 2021 Developer Countryside Properties has struck out terms meaning ground rents double every 10 to 15 years, after a watchdog’s instruction Leaseholders’ ground rents will stay at the amount charged when they first bought their home, following action by the Competition and Markets Authority (CMA). The Big Four developer has voluntarily given formal commitment to removing [...]
Are regulators starting to embrace digital assets? September 14, 2021 Writing for Crypto AM, Jonny Fry examines the regulation of cryptocurrencies and points to what a future under scrutiny could look like.
Measuring the real cost of university – and getting ready to fund it September 14, 2021 September is always an emotional month for millions of households – with youngsters leaving the nest to head off to an exciting new chapter of their lives at university. Graduates earn around £10,000 more a year than those who don’t go to university, according to UK government figures1. University students also learn to become independent, [...]
Property: ‘Best market in two decades’ but lack of stock spooks sellers September 14, 2021 The property market is in the best shape to sell in more than two decades, OnTheMarket’s boss has said, but sellers are being spooked by the lack of stock and the rapid rate at which homes are being snapped up. Some 73 per cent of UK buyers felt confident that they would purchase a property [...]
Emma Raducanu: British tennis sensation set to be inundated with sponsor offers following fairytale US Open triumph September 13, 2021 Emma Raducanu’s fairytale triumph at the US Open has not only made her the new darling of British tennis but also among the hottest properties in sport for sponsors. The 18-year-old from Bromley became the first Englishwoman to win a Grand Slam since Virginia Wade in 1977 when she beat fellow teenager Leylah Fernandez on [...]