City law firms repay furlough cash following strong business during pandemic October 14, 2020 Several large British law firms have handed back government furlough cash after seeing stronger-than-expected business during the pandemic. Square Mile-based firms Norton Rose Fulbright, Osborne Clarke and Herbert Smith Freehills have all paid back wage subsidies handed out by the chancellor, following strong demand for their legal services during the coronavirus crisis. Chancellor Rishi Sunak [...]
UK housebuilder stocks surge on Help to Buy extension reports July 28, 2020 UK housebuilder stocks surged this morning on reports that the government is preparing to extend the Help to Buy scheme. Barratt Developments’ share price was up 5.07 per cent and Berkeley Group’s shares jumped 4.07 per cent this morning. Taylor Wimpey’s share price increased 3.29 per cent and Persimmon’s stock was up 4.06 per cent. [...]
Persimmon will start reopening construction sites next week April 24, 2020 Persimmon has announced a phased restart to work on its construction sites from next week, as the housebuilding sector starts to return to work. The housebuilder said it will start to open up sites from 27 April “in response to the UK government’s objective of getting the construction sector back to work.” Following the announcement [...]
Builders urge government to target 30,000 new houses for elderly a year in pandemic recovery June 25, 2020 The three largest retirement home providers have warned Boris Johnson that Britain’s economic recovery from the coronavirus pandemic will be “running on empty” if he does not urgently build new houses for older people. The chief executives of McCarthy & Stone, Churchill Retirement, and Lifestory Group have written to the Prime Minister urging him to [...]
Businesses voluntarily return £215m in furlough cash September 21, 2020 UK firms have voluntarily returned more than £215m of furlough money to the government either because they did not need it or they took it in error. HM Revenue & Customs (HMRC) figures released today showed that 80,433 employers have so far returned furlough cash totalling more than £215m handed to them to cover staff [...]
London Stock Exchange enters talks to buy stake in Primarybid June 30, 2020 London technology startup Primarybid is in talks to sell a chunk of its business to Britain’s stock exchange, following a successful partnership between the pair. London Stock Exchange Group (LSEG), the parent firm behind the London Stock Exchange, has entered detailed discussions with Primarybid about an investment, Sky News reported. Primarybid is an everyday investing [...]
Crest Nicholson cuts 130 jobs as it suffers £51m loss in first half of the year June 24, 2020 Housebuilder Crest Nicholson is looking to axe around 130 jobs after reporting a £51m loss in the first half of the year. The figures Crest Nicholson suffered losses of £51m in the six months to April, compared to a £64m profit in the same period last year. Operating profit sunk 162.1 per cent from a [...]
Redrow scraps interim dividend as coronavirus restrictions tighten March 24, 2020 Housebuilder Redrow is cancelling its interim dividend, anticipating a sharp drop in sales as the government tightens restrictions amid the coronavirus outbreak. The FTSE 250 company said it is cancelling its 10.5p interim dividend, amounting to £37m, which was due to be paid next month. Shares in Redrow are up five per cent. Redrow said: [...]
UK housebuilders race to return to work after government eases restrictions May 14, 2020 Some of the UK’s biggest housebuilders have revealed plans to return to work after the government removed lockdown restrictions on the property market. FTSE 100 housebuilder Persimmon said this morning that its sales offices in England will reopen from tomorrow with social distancing measures in place. It comes after the government removed restrictions to allow [...]
Housing market at the forefront of UK’s economic revival, says minister May 13, 2020 The housing market will be key to reviving the British economy and needed to be re-opened, according to housing secretary Robert Jenrick. At today’s press briefing, Jenrick said the “pressure for some to move was becoming acute”, with the government estimating that 450,000 buyers and renters have been unable to move house since March. The [...]