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    Housebuilders brace for ‘new deal’ to solve cladding crisis

    This article is an on-site version of the City Bulletin newsletter. Sign up here Send your newsletter directly to your inbox on weekdays

    House builder Michael Gove, who makes more than £ 10m, Cladding crisis Level up After the Secretary of State has set a March deadline for developers to devise a “fully funded action plan.”

    In a letter issued Monday, Gove built a “new deal with the industry” based on developer commitments, fixed unsafe coverings of 11-18 million buildings, and they played a role. He said he needed to contribute an estimated £ 4 billion to fix the assets he had fulfilled. under development. The government said it would decide which companies should donate to the fund after consultation with the industry.

    Our correspondents are more Developer response To catch up with Gove’s letters and the cladding situation This story From the weekend.

    Please tell us your thoughts.Send us an email at citybulletin@ft.com

    Simply put

    Private hospital group Spire Healthcare An agreement has been reached with the NHS in principle to ease the pressure on public services from the Covid-19 Omicron wave. The contract has not yet been signed, but will run from today until the end of March. Spire signed a similar contract with the NHS between January and March last year.

    Online trading group Plus500 Last year’s performance was better than the market expected, but revenue was almost 18% lower than in 2020 and ebitda was down 25%.

    Online electricity retailer Marks Electrical After a “strong performance” during the Black Friday and Christmas deal, it reported a 27% increase in earnings to £ 22 million in the three months to December. Marks reported a 55% year-on-year increase in sales over the nine months to December.

    Aldi Although only limited information on UK performance has been released, discount stores said this morning that December sales were up 0.4% year-on-year. He added that sales increased 8.1% from December 2019.

    City week

    I’m trying out a new item today. It’s worth noting in the coming week for UK companies.Please email me if you want me to keep it or if you already have that information elsewhere citybulletin@ft.com.. To be honest, I can take it.

    Tuesday: Robert Walters Bumper end-of-year update for recruiters (they often appreciate their great resignation) after telling the market in December that pre-tax profits are “comfortably above expectations”.There is also a half year result from the Warhammer group Games workshop..

    Wednesday: Christmas transaction updates from J SainsburyThe first major supermarket I reported was a big event.Other retailers that renew investors include trainer shops JD Sports And sofa group DFS Furniture..Premier Inn owner, Whitbread, food ordering platform Just eat takeaway,Recruiter PageGroup And house builder Vistry It also provides the latest information on transactions.

    Thursday: Today, three major retailers take turns.In groceries, it’s TescoIt is believed that we had the best Christmas in a big supermarket in the UK.Then there is MS, If the investor wants to confirm that the rebound will continue, AssosI’m looking for a new CEO after suddenly breaking up with Nick Beighton in October.There is also an update from the house builder Persimmon, Cycle shop Halfors And household goods retailers Dunelm..

    Friday: CurrysFormerly known as Dixons Carphone, it concludes the week. In mid-December, despite being caught up in November’s profit forecasts, the market warned that it was “weak in the last few weeks,” so we can see if trading has recovered.

    Beyond square miles

    Co-founder of N26, One of Europe’s most famous online banks, says FinTech is wrong about global expansion and cryptocurrencies. “Should we build transactions and cryptocurrencies instead of launching in the US? In retrospect, that might have been a wise idea,” Max Tiental told FT. Eighteen months after breaking the withdrawal from the United Kingdom, N26 announced in November that it would also leave the United States. Read the interview with Olaf Storbeck here..

    Founder and senior management of a company owned by Ark Invest Flagship Fund embarks on an unprecedented sale of shares, ETF correspondent Steve Johnson reports.. Company insiders sold $ 13.5 billion in shares and bought only $ 11 million in the six months to December. Ark Innovation Exchange Traded Fund (ARKK), which has won the founder Cathie wood After gaining more than 150% in 2020, the nickname “Queen of the Bull Market” has lost almost half of its value since its peak in February 2021.

    Trade-in turbulent day Chinese stocks:share China Life Insurance It fell on Monday after revealing that Beijing’s anti-corruption agency is investigating the company’s chairman. Modern landA Chinese real estate developer, who was taken care of by missing out on land bond payments last October, plummeted almost 40 percent after revealing that it was in talks with creditors about a restructuring plan.But Chinese Tech stocks Rised after a difficult week of trading.William Langley Have more About all three stories.

    Deputy Editor-in-Chief Patrick Jenkins Explain why the acceptance of bankers, a centuries-old trade financial product, functions today Storm barometer With feelings in the financial sector. For years, China’s financial sector has probably continued to innovate with the acceptance of safe bankers, he writes. “No matter how safe these types of products are in theory, they are not actually risk-free. Unfortunately, the market is increasingly pricing them as if they were. increase.”

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    Housebuilders brace for ‘new deal’ to solve cladding crisis Source link Housebuilders brace for ‘new deal’ to solve cladding crisis

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