Good morning,
Marks & Spencer has accused levelling up secretary Michael Gove of “political grandstanding”, following his decision to call in its Oxford Street redevelopment. M&S said the decision was “baseless”, despite concerns over the release of embodied carbon from the scheme, and claimed that Gove would rather see Oxford Street filled with American Candy stores.
Accor is to sell part of its stake in the Ennismore luxury hotel joint venture with the Hoxton boutique chain to a Qatari consortium, valuing the company at more than €2bn.
Forsters has joined the lengthening list of law firms to confirm new headquarters, revealing plans to bring staff from across its four London sites together in a new Marylebone office. The real estate and private wealth specialist has taken a 15-year lease on 50,000 sq ft at Lazari Investments’ 22 Baker Street, W1.
The government has signed a £1bn deal with Boston-based Moderna to build the UK’s first manufacturing centre for messenger RNA vaccines.
Meanwhile, former science minister and board member at UK Research and Innovation, Lord David Willetts, has set out the six challenges facing the UK’s science and technology industries. Willetts was speaking to some 300 delegates from across the science, technology and real estate industries for EG’s Creating a Scientific Superpower conference.
As venture capital investors sank billions of pounds into smaller unlisted technology-based businesses in the UK in the first quarter,despite falling valuations.
The fund manager at the centre of the Vatican’s ill-fated attempt to buy into London real estate is suing Credit Suisse over the deal. WRM Group claims it didn’t know that the €350m spent on 60 Sloane Avenue, SW1, was originally intended to help the needy.
The Maldives is planning to create the world’s largest floating city by 2027. The ambitious plans will see 20,000 people housed on a series of floating islands a 10-minute boat ride from the capital Malé.
Brighton, meanwhile, could become the first city in Britain to take action against second homeowners.
And London’s restaurants are the loudest in Europe – and second only to San Francisco. Shak-Fuyu in Soho clocks in at an ear-splitting 94dBA.
In case you missed it, the RICS has said it will overhaul its management structure after backing all of Lord Bichard’s proposals.
And the rail strikes currently emptying the UK’s cities could go on and on as the prime minister vows to beat the unions.
The Times (£) asks how the world’s policy makers and forecasters got inflation so wrong. (It only briefly acknowledges that the UK got it “wrongest”.)
Chinese developer Evergrande has said the Hong Kong stock exchange has set the terms for it to avoid delisting.
And finally, a disused convenience store on the Shetland Islands is poised to become Britain’s most northerly mosque. A planning application has been submitted to turn the old Lochside Stores in Lerwick, 120 miles north of mainland Scotland, into a place of worship and community centre. Currently the 30 or so Muslims who live on the islands have to make do with private homes or a room above a restaurant.
