Britain isn’t ‘recovering’, whatever the Bank may suggest

Threadneedle Street’s forecasting has been faulty. But it must still play its central role in protecting jobs and the economy

The UK is performing better than expected. That was the message from the Bank of England’s governor, Andrew Bailey, following its latest review of the economy.

It was a message he almost muttered under his breath, as if knowing that almost anyone listening would yell back: “Oh no it isn’t!”

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Tui records £1bn loss amid Covid-19 travel shutdown

Sales fell 98% from April-June as pandemic halted travel but Europe’s biggest holiday firm says future bookings offer hope

Tui, Europe’s biggest holiday company, has warned that business is unlikely to return to normal until 2022 as it revealed losses so far this year have totalled €2bn (£1.8bn).

In an illustration of Covid-19’s impact on the package holiday industry, the group said revenues from April to June had crashed by 98% as pandemic lockdowns across the continent wiped out sales.

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House for sale in London, good location, overlooks park, a bargain at £185m

Developer seeks to cash out of investment in John Nash-designed mansion with views of Regent’s Park

Developers have stuck an asking price of £185m on a house overlooking Regent’s Park in central London in what would be the UK’s second most-expensive home purchase.

The property firm Zenprop is targeting foreign billionaires as potential buyers of 1-18 York Terrace East as it seeks to cash out of a 2016 investment.

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