Good morning, here’s your Tuesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
Hammond to deliver spring statement as EU ministers meet
The UK’s Chancellor Philip Hammond will deliver his spring statement today and will give some upbeat news: The British economy is in better shape than expected.
Hammond will deliver his first spring statement to the Commons at about 12.30pm London time. He’s set to speak for around 20 minutes in a much shorter address than many have become used to at this time of year. The spring statement now takes back seat to the budget, which has been moved to the autumn.
Meanwhile, EU finance ministers will gather in Brussels for an Economic and Financial Affairs Council meeting. Main topics include agreeing a package of measures aimed at reducing risk in the banking industry and a proposal aimed at achieving greater transparency in tax-planning schemes.
Property market fair Mipim gets underway in Cannes, France
The world’s biggest property market fair Mipim gets underway in Cannes, France today.
The Palais des Festivals convention centre will play host to some 24,000 participants from 100 countries.
Topping the agenda is how the industry can reinvent cities in collaboration with businesses to create sustainable regeneration. More than two thirds of the global population are expected to live in urban centres by 2050 and an estimated 10 more megacities will be built by 2030.
Meanwhile, property company executives have been warned to be on best behaviour after the real estate industry came under fire since a Financial Times exposé of the Presidents Club men-only dinner, where hired female staff were groped and harassed. A large number of the men who attended the dinner work in the property industry.
Trump to inspect Mexico border wall prototypes in San Diego, US
US President Donald Trump visits San Diego, California, to inspect eight prototypes of his planned 30-foot tall and 30-foot wide border wall with Mexico.
The US customs and border protection (CBP) selected these eight from hundreds of entrants in a bidding process that began some 12 months ago. Contractors had 30 days to construct the prototypes and, in late November, the concrete and steel edifices were tested to see how they hold up.
Once one of these is selected the process of erecting the chosen design across the US’ 2000-mile southern border would begin, at an estimated cost of $21 billion.