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George Hammond Profile
George Hammond

@GeorgeNHammond

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Venture Capital correspondent for @FT in SF // Previously writing about property in London and finance in Hong Kong | views my own

San Francisco
Joined February 2014
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@GeorgeNHammond
George Hammond
2 years
👋 San Francisco. New gig covering VC for the @FT starts tomorrow.
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@GeorgeNHammond
George Hammond
2 years
*Slightly mind-boggling* scoop: new building is getting blocked in west London because the electricity grid is at capacity. There may not be a fix for A DECADE or more. 🤯 w/ @sjhmorris
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@GeorgeNHammond
George Hammond
7 years
@TheCheish "Hi, I'm Kevin. Twice divorced and looking for third time lucky!"
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@GeorgeNHammond
George Hammond
2 years
My final piece as property correspondent looks at how London became an 'inheritocracy', and how damaging that could be for the city. The data and interviews paint a picture of a city that has become inhospitable for many young people. (1/5)
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@GeorgeNHammond
George Hammond
7 years
@Kathryn_CC @TheCheish YOU COULD HAVE AT LEAST REPLIED
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@GeorgeNHammond
George Hammond
5 months
TIL Americans have a *very* different understanding of Gooner than Brits. Wish I’d known that before putting #Gooner in my Twitter bio and moving to SF.
@guardian
The Guardian
5 months
Anne Hathaway is a secret Gooner and now her reinvention is complete
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@GeorgeNHammond
George Hammond
2 years
1 millon people remortgage their homes each year. Their monthly costs are about to leap, making the risks of a serious property price crash much more likely. (1/3)
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@GeorgeNHammond
George Hammond
2 years
Delighted (despite appearances) to win property business journo of the year at the #PropertyPressAwards last night. Thank you to patient editors, chatty contacts and helpful PRs 🙏🙏
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@GeorgeNHammond
George Hammond
2 years
Some bittersweet personal news: I'm leaving the property beat and heading to San Francisco to cover venture capital for the FT next month. Gutted to depart but can't wait to join @Tabby_Kinder @RichardWaters and co. covering one of the most exciting stories around.
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@GeorgeNHammond
George Hammond
4 years
On a day of big vaccine and schools news, pretty significant that the Mail went with cladding on the front. This story is only going to get bigger this year.
@MilesDilworth
Miles Dilworth
4 years
Today's launch in full: homeowners paying more than £2bn pa in stop-gap safety measures and insurance hikes due to failures to fix unsafe homes = losing £6m each day work is delayed. That is *before* they're handed 6-figure bills to pay for repairs
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@GeorgeNHammond
George Hammond
4 years
A massively important story, which @ncbrooker and I have tried to unpick: how did 2m people end up trapped in their homes and what can be done about it?🙏to those who told us their heartbreaking stories and to others covering this brilliantly elsewhere.
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@GeorgeNHammond
George Hammond
2 years
💥Scoop: London's most expenisve mansion (£210mn!!) is owned by Evergrande chairman - once China's richest man, now staving off a crisis at his heavily indebted company. @primroseriordan @cynthiao and I dug into a secretive property deal. 👇 (1/5)
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@GeorgeNHammond
George Hammond
7 years
@PickardJE Always Czech your facts
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@GeorgeNHammond
George Hammond
5 years
Today I start a new job leading the @FT 's property coverage, taking over from the excellent @JudithREvans . Just as well I have a few quiet weeks to settle in... 😬
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@GeorgeNHammond
George Hammond
2 years
Working from dome
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@GeorgeNHammond
George Hammond
2 years
I’m settling in fine, thanks for asking
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@GeorgeNHammond
George Hammond
4 years
Excellent dissection of the Grenfell inquiry and the corporate scandal which is emerging from it by @PeteApps , whose reporting on this has been phenomenal.
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@GeorgeNHammond
George Hammond
4 years
@PickardJE Conducted by Ipsos Moray
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@GeorgeNHammond
George Hammond
3 years
Its taken 3 years, but the FT twitter account has finally acknowledged my employment 🥳
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@GeorgeNHammond
George Hammond
5 years
Off to Hong Kong today to start a new gig reporting on finance. Get in touch if you’re in the city! And farewell London, you absolute beauty.
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@GeorgeNHammond
George Hammond
3 years
Last week ministers touted their big solution to the cladding crisis. But the fanfare looks premature: there is still major confusion around which homes are safe and lenders are nervy about issuing mortgages. Meanwhile, leaseholders remain trapped.
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@GeorgeNHammond
George Hammond
3 years
Just got a walk-in second jab at the Emirates. About as entertaining as most other visits, certainly more shots on target than usual.
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@GeorgeNHammond
George Hammond
2 years
"SVB’s bank run was largely unnecessary and it was stoked by venture capitalists freaking out... They killed their relationship bank" The blame game is well underway in Silicon Valley. w/ @AntoineGara and @tim
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@GeorgeNHammond
George Hammond
4 years
Robert Jenrick claimed that his intervention on cladding last week would free up the housing market. But by hobbling leaseholders with long-term loans it may just create other problems, not least negative equity... 👊 @MelissaLawford
@MelissaLawford
Melissa Lawford
4 years
Government's cladding fix means thousands of leaseholders face negative equity, campaigners warn
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@GeorgeNHammond
George Hammond
3 years
Cladding repair costs will have "a devastating impact" on new affordable housing. Yet another grim consequence of the building safety crisis exposed by Grenfell.
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@GeorgeNHammond
George Hammond
3 years
Was expecting a nice quiet news day on Christmas eve. Instead I get Credit Suisse launching legal action against SoftBank. Currently the @FT splash.
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@GeorgeNHammond
George Hammond
3 years
"The government’s announcement is doing no more than commanding pigs to fly, or frantically trying to stuff toothpaste back into the tube. Until that changes... leaseholders will continue to suffer." @LiamSpender is the top comment on our cladding story
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@GeorgeNHammond
George Hammond
8 months
It's been a year since I rocked up here knowing no one and nothing. Thank you to my wonderful colleagues, friends and contacts for making it feel like home.
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@GeorgeNHammond
George Hammond
2 years
👋 San Francisco. New gig covering VC for the @FT starts tomorrow.
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@GeorgeNHammond
George Hammond
3 years
Cladding crisis could drag on "for two decades" unless ministers get a handle on it, warns housebuilding boss.
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@GeorgeNHammond
George Hammond
6 years
First day as a staffer @FT , and absolutely buzzing about it. Will continue covering the property market, all tips welcome!
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@GeorgeNHammond
George Hammond
2 years
This is blocking new homes and commercial projects in Hounslow, Hillingdon and Ealing - 3 boroughs responsible for ~10% of all new London homes. The issue is worsening thanks to electricity-hungry data centres and demands that new homes come with EV chargers/heat pumps etc.
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@GeorgeNHammond
George Hammond
2 years
Biggest thing I’ve learnt since moving to America? I can’t pronounce my own name. Please just call me Yush from now on.
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@GeorgeNHammond
George Hammond
4 years
@PickardJE It's lasted 3 days to be fair Jim. Credit where credit's due
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@GeorgeNHammond
George Hammond
5 years
On the front page and just to the right of Farage, two places I didn’t expect to find myself..
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@GeorgeNHammond
George Hammond
3 years
Always nice when your employer tweets a photo of your bed on main
@ftlive
Financial Times Live
3 years
@MauricioRodasEC @ArshtRock @UofPenn @OECD @OECD_local @lamia_k_c Buildings are responsible for 40% of global carbon emissions, making them a significant part of the problem. But can they be part of the solution? Our first #FTClimateCapital panel of the day explore now with @GeorgeNHammond :
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@GeorgeNHammond
George Hammond
3 years
The stamp duty holiday handed a £3.1bn saving to buyers of homes worth £500,000 or more. The handout is equal to what the government has put aside to fix unsafe cladding. It's hard to argue that greasing the wheels of the housing market is the bigger priority of the two.
@GeorgeNHammond
George Hammond
3 years
Was the stamp duty holiday a success? It saved buyers £6.4bn, but about half of that went to people paying £500,000+ for a home. Possibly cost the Treasury £bns and market would've been hot without it. Exclusive w/ @MrJamesPickford , 🙏 to @LucianCook
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@GeorgeNHammond
George Hammond
5 years
Exclusive: Massive UK housing association enters £100m modular homes partnership, in a big boost for the modular sector
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@GeorgeNHammond
George Hammond
6 years
The FT, in a shameless bid to appeal to the everyman, has commissioned me to write a guide to buying a private island. ?
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@GeorgeNHammond
George Hammond
2 years
Phwoar London
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@GeorgeNHammond
George Hammond
3 years
Sunak's eco-credentials on show as he recycles a number of housing announcements. The big numbers - £11.5bn affordable homes programme, £5bn cladding fund - are old. The middling one - £1.8bn for brownfield sites - widely briefed.
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@GeorgeNHammond
George Hammond
1 year
San Francisco is a beautiful, wonderful city. But the extent of its challenges - drugs, homelessness, a hollow downtown - threaten its future and raise fears the city is stuck in a "doom loop." @Tabby_Kinder and I spent weeks asking: can SF escape?
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@GeorgeNHammond
George Hammond
3 years
Day 1 going well for new press chief
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@GeorgeNHammond
George Hammond
2 years
I'm writing my last piece for @ftproperty 🥲and would love to talk to: - parents helping their child buy a first home in London - first time buyers wondering if they can afford it/whether its worth it Drop me a line (anonymously is fine) if that's you: george.hammond @ft .com
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@GeorgeNHammond
George Hammond
2 years
“There are going to be tonnes of stranded assets, let’s be honest.” Here's a piece I've been working on for 9 months, looking at how much of the ofice market could be wiped out by environmental regulation and who'll get burnt on the way.
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@GeorgeNHammond
George Hammond
2 years
And they bought Sterling at the top of the market
@JoshTANoble
Josh Noble
2 years
Chelsea price at time of sale: $3.1bn Chelsea price at today’s rates: $2.7bn
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@GeorgeNHammond
George Hammond
3 years
Boris met the UK's top bankers on Tuesday to talk cladding. On the agenda: - restarting lending to affected flats - loans for leaseholders The meeting, a day after the #BuildingSafetyBill was published, shows just how much is left to fix. w/ @sjhmorris ?
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@GeorgeNHammond
George Hammond
2 years
The result is that high-earning, hard-saving young people like Michael Seal will move away: "I don’t really know what society wants from me if not to be a hard-working teacher in a deprived school. But I’m still eating hummus sandwiches in a leaking flat. I’m angry about it.”
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@GeorgeNHammond
George Hammond
4 years
Latest installment in the Jenrick saga: the communities secretary is now facing a possible parliamentary inquiry into his handling of Richard Desmond's property scheme. With @PickardJE
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@GeorgeNHammond
George Hammond
2 years
Totally normal, healthy, democratic behaviour.
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@GeorgeNHammond
George Hammond
4 years
Big breaking news: UK housing market coming out of the freezer from tomorrow. Scoop with @PickardJE
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@GeorgeNHammond
George Hammond
5 years
Not the first thing I think about when I think about London, to be honest
@CNBC
CNBC
5 years
When you think about London, you might think of Tesco, the largest retailer in the UK. But despite the store's success worldwide, you won't find it in the U.S. Here's why.
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@GeorgeNHammond
George Hammond
4 years
Thanks to @SebastianEPayne for the podcast debut. If I sound distracted at points its because my neighbour strolled by naked as I was attempting to unpick the biggest planning changes in a generation...
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@GeorgeNHammond
George Hammond
6 months
“Usually the depth of the downturn is in proportion to the magnitude of the bubble, which would imply we’re in for a brutal time.” Venture Capital reckons with the end of the “megafund” era ?
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@GeorgeNHammond
George Hammond
2 years
Banks pulling mortgages, economists forecasting bigger price crashes than in the GFC. Sentiment has soured fast in the housing market. Who'd have guessed it would do so off the back of a Tory budget?
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@GeorgeNHammond
George Hammond
3 years
I tried to work out if sanction-hit Alisher Usmanov owns a house. It was far less straightforward than I expected (1/3)
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@GeorgeNHammond
George Hammond
3 years
A new mortgage guarantee scheme kicks off on Monday, designed to "turn generation rent into generation buy". But banks won't lend against new homes, and builders warn the scheme might hit new housing. With @NicholasMegaw
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@GeorgeNHammond
George Hammond
6 months
As AI models get more and more powerful, the evaluations used to assess their risks and performance are creaking. "As models get better, the capabilities make these evaluations obsolete," according to @aidangomez
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@GeorgeNHammond
George Hammond
6 months
Some brilliant new hires in the @FT San Francisco bureau
@FTPressOffice
FT Press Office
6 months
. @FT is expanding its San Fran bureau to deepen coverage of the intersection of money and tech, with @sjhmorris as bureau chief, @RichardWaters as tech-writer-at-large, @MActon93 as SF correspondent and @CristinaCriddle as tech correspondent. More here:
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@GeorgeNHammond
George Hammond
3 years
The government's flagship housing policy has not been "good value for money" according to a House of Lords report out today. Gove is going after developers to fix the cladding crisis. Help to Buy is a big reason they have the cash needed to help
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@GeorgeNHammond
George Hammond
2 years
Look at those cheery faces, you'd never guess there was a crisis going on... 🙏 @SullyCNBC and @CNBC for having me on to talk Thiel.
@Tabby_Kinder
Tabby Kinder
2 years
Great to see @GeorgeNHammond representing the @FT on @CNBC this afternoon talking about First Republic, SVB and Peter Thiel…
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@GeorgeNHammond
George Hammond
3 years
Whoever replaces Jenrick will have a meaty to do list. Planning reforms look to be heading for the rocks, building safety is in disarray and there's a green homes policy to figure out + plenty more besides. The new sec will be the 4th in 5 years asked to figure it all out.
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@GeorgeNHammond
George Hammond
2 years
Before interest rates spiked, homeowners could service mortgages on expensive homes and new buyers could enter the market provided they had a decent deposit. That dynamic has changed far faster than anticipated, leaving an unaffordable market perilously exposed. (2/3)
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@GeorgeNHammond
George Hammond
2 years
The biggest hurdle is raising the average £150,000 deposit required to buy in London - a task made harder by rising rents. (2/5)
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@GeorgeNHammond
George Hammond
2 years
Tower construction in London is falling. Rising costs and complexity are deterring developers; safety fears post-Grenfell are deterring buyers. The upshot is that hitting London's housing targets will become even harder.
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@GeorgeNHammond
George Hammond
4 years
Canary Wharf is known for its offices and not much else. If we can't go to work, what is the point of it?
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@GeorgeNHammond
George Hammond
3 years
Shots fired
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@GeorgeNHammond
George Hammond
2 years
Sometimes you spend ages on a story only to find the whole argument summed up better in a 100 word comment on the piece:
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@GeorgeNHammond
George Hammond
3 years
Chesham and Amersham by-election defeat threatens to derail the Tories landmark planning reform. With @SebastianEPayne and that bloke who ate a hat for breakfast, @PickardJE
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@GeorgeNHammond
George Hammond
2 years
Nothing to see here. Just a sanctioned bank which can't pay the sanctioned landlord of its Grade-II listed office in the City of London.
@OwenWalker0
Owen Walker
2 years
Sanctioned Russian bank appeals to UK government to be able to pay sanctioned Libyan sovereign wealth fund for rent on prime City of London property overlooking the Bank of England. 🇬🇧 💷 Welcome to Britain 2022 🇬🇧 💵 👇 with @GeorgeNHammond
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@GeorgeNHammond
George Hammond
5 years
Seriously though, when is something going to happen?
@GeorgeNHammond
George Hammond
5 years
Today I start a new job leading the @FT 's property coverage, taking over from the excellent @JudithREvans . Just as well I have a few quiet weeks to settle in... 😬
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@GeorgeNHammond
George Hammond
5 months
This does explain the looks when I tell people I'm such a diehard Gooner that I have a season ticket, as well as some of the party invites
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@GeorgeNHammond
George Hammond
2 years
Sign of the times in the tech sector as Google, Meta, Salesforce et al cut back on European office space. Ominous news for London office landlords - tech has been a mainstay of demand in recent years. Scoop with @CristinaCriddle and today's @FT splash
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@GeorgeNHammond
George Hammond
4 years
By the third anniversary of Grenfell, June 14, every tower with similar cladding was meant to be fixed. But that goal is still years off, with less than 1% of funds set aside for private developers to fix towers having been spent. Pretty damning report.
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@GeorgeNHammond
George Hammond
4 years
Big scoop: WeWork lost $3.2bn last year as occupancy slumped to below 50%. The company is looking to drum up $1bn from investors in a Spac deal. With @ArashMassoudi @EricGPlatt @Edgecliffe and @JFK_America
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@GeorgeNHammond
George Hammond
3 years
Well this isn't jarring at all
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@GeorgeNHammond
George Hammond
2 years
Really glad my bed finally arrived today. Just in time for me to not sleep in it.
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@GeorgeNHammond
George Hammond
5 years
EXCLUSIVE: UK government - via @HomesEngland - joins Japanese developer Sekisui House and regen specialist @Urban_Splash in #modularhousing joint venture.
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@GeorgeNHammond
George Hammond
4 years
Confirmation of our scoop from Monday. WeWork to merge with Spac in $9bn deal
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@GeorgeNHammond
George Hammond
3 years
More than 4 years since Grenfell, the scale of the cladding crisis is still an open question. The Bank of England is increasingly concerned that the costs to lenders may be bigger than expected and could impact financial stability.
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@GeorgeNHammond
George Hammond
2 years
Lovely day to vote. My polling card offers Labour Party, Liberal Democrats and, intriguingly, ‘Local Conservatives’. Older gent in the next booth audibly unimpressed: ‘Local Conservatives? The bloody cheek of it’.
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@GeorgeNHammond
George Hammond
5 years
Everything is definitely fine in China's property market, where one developer is offering a "buy two houses, get one free" deal...
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@GeorgeNHammond
George Hammond
7 months
Heading to SXSW March 12-15th. Hit me up if you're down there and would like to talk venture or AI
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@GeorgeNHammond
George Hammond
2 years
Scoop (and first SF byline) w/ @AntoineGara + @Tabby_Kinder Tiger Global tells investors its portfolio of private tech companies is at "fair value" in an effort to reassure them the value of unlisted investments is steady after a string of writedowns.
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@GeorgeNHammond
George Hammond
3 years
Farewell Chris Pincher, a veteran with 24 months in the role. That's platinum jubilee territory for housing ministers
@NobleFrancis
Noble Francis
3 years
... & Stuart Andrew is now the 20th Housing Minister since 2000, with the Housing Minister position changing every 15 months on average & Yvette Cooper remains the longest serving Housing Minister over this period (which most people forget). #ukhousing #housing #reshuffle
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@GeorgeNHammond
George Hammond
4 years
A piece about remodelling leases in Covent Garden, with some inexplicable digs at Wahaca's guacamole in the comments section.
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@GeorgeNHammond
George Hammond
1 year
My seamless integration into American society continues
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@GeorgeNHammond
George Hammond
2 years
Biggest thing I’ve learnt since moving to America? I can’t pronounce my own name. Please just call me Yush from now on.
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@GeorgeNHammond
George Hammond
4 years
The @FT spoke to Lord Norman Foster about the post-coronavirus city. The architect behind some of the world's best known offices and civic buildings says the pandemic will change cities for the better, and that we might soon be living in office blocks. 👀
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@GeorgeNHammond
George Hammond
2 years
So close, yet sofa
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@GeorgeNHammond
George Hammond
2 years
I’m settling in fine, thanks for asking
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@GeorgeNHammond
George Hammond
11 months
Now SBF has been found guilty, Sequoia can break its silence. Alfred Lin, who led the firm's investment into FTX, says he and Sequoia were "deliberately misled and lied to" by the founder
@Alfred_Lin
Alfred Lin
11 months
Today’s swift and unanimous verdict confirms what we already knew: that SBF misled and deceived so many, from customers and employees to business partners and investors, including myself and Sequoia.
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@GeorgeNHammond
George Hammond
2 years
Prices have fallen in the last few years and are expected to do so this year too. That might provide FTBs some hope. But real wages are still some way below 2008 levels, and the ratio of wages to prices is close to its highest ever level. (3/5)
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@GeorgeNHammond
George Hammond
3 years
Yesterday @martinwolf_ @sarahoconnor_ and I took on the small matter of how to fix the housing crisis. They only gave us an hour but I'm pretty sure we figured it out... Watch back here and sign up for the rest of the @FT New Deal for the young series.
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@GeorgeNHammond
George Hammond
2 years
If you enjoyed "A-level economics", why not try GCSE history?
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@GeorgeNHammond
George Hammond
3 years
This weekend's @ftproperty front is a despatch from a broken housing market. The supply of homes for sale in the UK has hit record lows, pushing up prices and freezing people out. How did we get here?
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