House

House builder’s profit slumps, losses deepen at Galliford Try and Zara sales slide

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

House builder’s profit slumps

House builder Redrow (RDW.L) saw its profits slump by two thirds last year as COVID-19 disrupted construction and sales.

Pre-tax profit at the business fell 66% to £140m ($180.5m) in the 12 months to 28 June 2020, the company said. Revenue dropped 37% to £1.3bn.

Chief executive John Tutte said the pandemic had “a profound impact upon the Group’s performance in the 2020 financial year but we entered the new financial year in a position of strength.”

“We have a record order book and brought forward very high levels of work in progress,” he said. “This was due in part, to increased investment earlier in the year in anticipation of strong demand for the Help to Buy scheme ahead of changes to the scheme next year.”

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House builder’s profit slumps, losses deepen at Galliford Try and Zara returns to profit

New-build homes at a Redrow housing development in Arborfield near Reading, England. Photo: Adrian Dennis/AFP via Getty Images
New-build homes at a Redrow housing development in Arborfield near Reading, England. Photo: Adrian Dennis/AFP via Getty Images

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

House builder’s profit slumps

House builder Redrow (RDW.L) saw its profits slump by two thirds last year as COVID-19 disrupted construction and sales.

Pre-tax profit at the business fell 66% to £140m ($180.5m) in the 12 months to 28 June 2020, the company said. Revenue dropped 37% to £1.3bn.

Chief executive John Tutte said the pandemic had “a profound impact upon the Group’s performance in the 2020 financial year but we entered the new financial year in a position of strength.”

“We have a record order book and brought forward very high levels of work in progress,” he said. “This was due in part, to increased investment earlier in the year in

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White House Virus Coordinator Birx Praises UA, Student Efforts

TUSCALOOSA, AL. — White House Coronavirus Response Coordinator Dr. Deborah Birx had high praise for the University of Alabama and its students as part of her trip across the south visiting with university and community leaders, which stopped in Tuscaloosa on Friday.

A world-renowned global health official, Birx was appointed to the Office of the Vice President to aid in the government’s response to COVID-19 and can regularly be seen speaking during White House press briefings on matters related to the COVID-19 pandemic.

Birx spent her visit to Tuscaloosa meeting with students, UA administrators and local elected officials, which comes roughly eight weeks after her roundtable meeting with Alabama Gov. Kay Ivey.

“I think what we have found across a series of, particularly the SEC schools where we’re concentrated in this trip, the schools that prepared and had a plan,” she said, pointing also to her visit to the University

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The Japanese House Makes Use of Her Sorrowful Heart

When she first broke onto the scene, people assumed that Amber Bain had chosen the moniker The Japanese House to perform under so as to appear genderless. Which, Bain says now, used to really quite annoy her.

“I’d say, I’m sorry, but which guys would you ask, ‘Oh, is it because you want to hide the fact that you’re a boy?’” she says, on a Zoom call from London, over the sound of a windstorm happening outside her window. “I’m not hiding my gender, I just want a band name.”

The 25-year-old musician is recently more interested in the concept of gender presentation, something she explored when it came to photographing the art of her latest EP, “Chewing Cotton Wool,” at home during lockdown. (And for the record, the band name comes from a home in Cornwall that she visited as a child).

Bain, who has released one full-length album,

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Is This The Best Time Ever to Buy a House or Nah?

Photo credit: Khadija Horton
Photo credit: Khadija Horton

From Cosmopolitan

If there’s one thing my mama taught me, it’s to always look for a silver lining. And right now, there (shockingly) is one: Mortgages are more affordable than they have been in a looong time. I hate that it took a pandemic for us to get here, but if being able to actually buy a place of my own is even a remote possibility, it’s not one I’m going to sleep on. Which is why I’m out here reporting this little article for me all of us.

The good news: The two-bed, two-bath you’ve been eyeing might legit be a reality. “A major pro of purchasing a home right now is a lower mortgage interest rate,” explains Institute for Economic Research Studies founder Yolanda Michelle about one of the ways the government is attempting to stimulate the economy. Less interest means you’ll have to

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At RNC, White House staffers Kellyanne Conway and Kayleigh McEnany make personal case for Trump

White House senior counselor Kellyanne Conway addresses the Republican National Convention. <span class=(Associated Press)” src=”https://s.yimg.com/ny/api/res/1.2/cu6cZg4WFkwf3QKGcTpVsg–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MA–/https://s.yimg.com/uu/api/res/1.2/KT4f3ZXf9A433VX4mzmycg–~B/aD01NjA7dz04NDA7c209MTthcHBpZD15dGFjaHlvbg–/https://media.zenfs.com/en/la_times_articles_853/31c26e4e76f4625582d32d9063fd32e8″ data-src=”https://s.yimg.com/ny/api/res/1.2/cu6cZg4WFkwf3QKGcTpVsg–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MA–/https://s.yimg.com/uu/api/res/1.2/KT4f3ZXf9A433VX4mzmycg–~B/aD01NjA7dz04NDA7c209MTthcHBpZD15dGFjaHlvbg–/https://media.zenfs.com/en/la_times_articles_853/31c26e4e76f4625582d32d9063fd32e8″/
White House senior counselor Kellyanne Conway addresses the Republican National Convention. (Associated Press)

At a typical political convention, political staffers would be relegated to behind-the-scenes spin rooms. On Wednesday, the spin room took center stage.

President Trump’s senior counselor Kellyanne Conway and White House Press Secretary Kayleigh McEnany got prime speaking slots at the Republican National Convention on Wednesday. Convention speeches from campaign and White House staffers are exceedingly rare, but Trump’s RNC has broken a number of norms.

Both used their remarks to try to appeal to the suburban women voters who the GOP lost during the 2018 midterm election.

The appearance had added significance for Conway, one of Trump’s longest-serving aides, who announced this week she would be departing her White House post at the end of the month. Conway served as Trump’s third campaign manager, and when he won in 2016, she

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White House hints at new airline bailout; Pelosi, experts call new CDC guidelines ‘scary and dangerous’

The White House may provide relief to airline workers to keep them employed if Congress fails to reach agreement on a package for them, President Donald Trump’s chief of staff said Wednesday.

And the Centers for Disease Control and Prevention changed its COVID-19 testing guidelines and now says people without symptoms “do not necessarily need a test” – even if they’ve been exposed to COVID-19.

The move comes a week after the CDC updated travel guidelines that no longer mandate a 14-day quarantine for anyone who’s traveled outside of their state or the country. The revisions to CDC guidelines have been met with concern by medical experts, who caution that less testing may lead to more cases and hinder contact tracing efforts. 

House Speaker Nancy Pelosi also condemned the revised CDC guidelines on testing, saying Wednesday it “reinforces the lack of attention and understanding that we have to have in

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LA cracks down on ‘nightclub’ house; Las Vegas casinos could be inflaming COVID spread; Florida marks 10K deaths

As COVID-19 outbreaks at schools continue to pop up causing students and staff in some states to quarantine, a new study suggests that children may play a larger role in community spread of the new virus than previously thought.

Researchers in Massachusetts found that some children who tested positive for COVID-19 had significantly higher levels of virus in their airways than hospitalized adults in intensive care units, according to the study published Thursday.

“Kids are not immune from this infection, and their symptoms don’t correlate with exposure and infection,” said Dr. Alessio Fasano, the study’s senior author.

Meanwhile, two days after the University of North Carolina announced it would pivot to online classes, university officials announced Wednesday that it would temporarily suspend all athletic activities until Thursday afternoon. The announcement comes after the athletics department said campus’ outbreak would not affect the football season.

Some significant developments:

  • Georgia Gov. Brian

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Pelosi to call House back into session to vote on USPS bill

WASHINGTON (AP) — Speaker Nancy Pelosi says she is calling the House back into session over the crisis at the U.S. Postal Service, setting up a political showdown amid growing concerns that the Trump White House is trying to undermine the agency ahead of the election.

Pelosi is cutting short lawmakers’ summer recess with a vote expected the Saturday after the Democratic National Convention on legislation that would prohibit changes at the agency as tensions mount. President Donald Trump’s new postmaster general, Louis DeJoy, has sparked nationwide outcry over delays, new prices and cutbacks just as millions of Americans will be trying to vote by mail to avoid polling places during the coronavirus outbreak.

“In a time of a pandemic, the Postal Service is Election Central,” Pelosi wrote Sunday in a letter to colleagues, who had been expected to be out of session until September. “Lives, livelihoods and the life

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Voters can add fresh new voices to the Florida House. Here are the Herald’s choices| Editorial

From North Miami to Kendall to Key Biscayne and down the Florida Keys, Miami-Dade and Monroe county residents on Tuesday will select their voices in Tallahassee by voting for representative in the Florida House. Some races will be decided on Tuesday; others in November.

Here are our recommendations for the Aug. 18 primary:

HOUSE 102

Voters in this North Miami-Dade District, which spills into Broward — have three abundantly qualified and accomplished candidates from which to choose. (A meeting time could not be scheduled A fourth candidate, Dennis Hinds, did not respond to the Editorial Board’s invitation for an interview.)

Williams
Williams

Felicia Robinson is a former two-term Miami Gardens City Council member, elected in 2010. During her tenure, she made government more accessible to her constituents, creating several health-education programs and another worthwhile community conversation called “Meet Me Monday.” “I would bring in different people from the community and from

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