Daily Briefing: Singapore buildings found with unsafe claddings; Upgraders dominate housing market

And here's how investment bankers should dress down.

• From PropertyGuru: An investigation on 40 buildings in Singapore showed that 14 of the 19 buildings tested fell short of fire safety standards, revealed the Singapore Civil Defence Force (SCDF) on Thursday (24 August).
• From PropertyGuru: A “strange phenomenon” has occurred in the housing market, in which home upgraders dominated the market, while foreign buying and speculative investment remains suppressed. The phenomenon comes as upgraders pushed prices in new townships and traditional areas nearer to those in the fringe area around Orchard Road, said Cheng Wai Keung, chairman and managing director of Wing Tai Holdings.
• From eFinancialCareers: Investment banks are embracing a new era of casual clothing. After years of strict rules around acceptable office couture – think, dark suit, plain shirt, black shoes – banks have been forced to confront a new generation of employees used to less formal restrictions. Goldman Sachs’ attempts to lure hipster technologists means a new “‘year-round casual dress code”, J.P. Morgan allowed “business casual” in the office last year, and we understand that the vast majority of investment banks have, at the very least, dress down Fridays in place.