cityam--2020-11-06--Airbnb suspends 800 party houses in crackdown on antisocial behaviour

Airbnb has suspended more than 800 UK property listings as part of a crackdown on party houses .
More than 13,500 booking requests have also been blocked as part of a pilot to prevent under-25s to rent homes close to where they live in a bid to stop anti-social behaviour .
Read more : Airbnb to go public ‘ as early as next week ’ Airbnb removed listings that have received complaints or violated policies on parties from its property rental platform .
Meanwhile , the holiday home app issued a “ zero tolerance ” warning on mass gatherings as @ @ @ @ @ @ @ Yesterday , Airbnb , which is planning to go public as early as next week , announced that it would be restricting bookings in England for the duration of the lockdown , which is expected to last for at least four weeks .
Bookings made for stays up to 2 December will be subject to temporary restrictions , such as only allowing legally exempt-long term lets .
Airbnb director of public policy Patrick Robinson said : “ We want to be clear beyond doubt that we have zero tolerance for antisocial behaviour on @ @ @ @ @ @ @ to raise roughly $ 3bn in IPO “ The vast majority of hosts and guests are good neighbours and we are determined to weed out bad actors .
“ Our measures are working and as the UK goes back into lockdown , our priority is to be good partners to communities and to help everyone stay safe.
” The firm last month suggested it was aiming to raise around $ 3bn ( £2.3bn ) from a stock market listing , with the hopes of achieving a valuation of more than $ 30bn subject @ @ @ @ @ @ @ said it intended to go public by the end of this year , raising hopes of an IPO blockbuster in an already booming year for public listings .

Airbnb suspends 800 party houses in crackdown on antisocial behaviour
Airbnb showed resilience despite pandemic restrictions.
Airbnb has suspended more than 800 UK property listings as part of a crackdown on party houses.
More than 13,500 booking requests have also been blocked as part of a pilot to prevent under-25s to rent homes close to where they live in a bid to stop anti-social behaviour.
Airbnb removed listings that have received complaints or violated policies on parties from its property rental platform.
Meanwhile, the holiday home app issued a “zero tolerance” warning on mass gatherings as England entered its second coronavirus lockdown.
Yesterday, Airbnb, which is planning to go public as early as next week, announced that it would be restricting bookings in England for the duration of the lockdown, which is expected to last for at least four weeks.
Bookings made for stays up to 2 December will be subject to temporary restrictions, such as only allowing legally exempt-long term lets.
Airbnb director of public policy Patrick Robinson said: “We want to be clear beyond doubt that we have zero tolerance for antisocial behaviour on Airbnb.
“The vast majority of hosts and guests are good neighbours and we are determined to weed out bad actors.
“Our measures are working and as the UK goes back into lockdown, our priority is to be good partners to communities and to help everyone stay safe.”
The firm last month suggested it was aiming to raise around $3bn (£2.3bn) from a stock market listing, with the hopes of achieving a valuation of more than $30bn subject to market conditions.
In 2019 Airbnb said it intended to go public by the end of this year, raising hopes of an IPO blockbuster in an already booming year for public listings.


cityam--2020-11-06--New: Derby County head for Gulf ownership

Derby County are set to be the latest club to move into Gulf ownership , it emerged today .
Bin @ @ @ @ @ by Sheikh Khaled bin Zayed Al Nehayan , has agreed a deal in principle with @ @ @ @ @ Sheikh Khaled is a cousin of Manchester City owner Sheikh Mansour , who has poured @ @ @ @ @ into turning the club into a global brand .
Read more : The week in @ @ @ @ @ the deal is worth in the region of £60m .
A statement on the club @ @ @ @ @ “ These talks progressed to the point where a deal has , in principle , @ @ @ @ @ parties .
“ The club ’ s submission under the Owners and Director ’ s @ @ @ @ @ by the EFL board on Thursday .
“ Derventio Holdings ( UK ) Limited , @ @ @ @ @ entity is Bin Zayed International LLC , owned by Sheikh Khaled Zayed Bin Saquer Zayed @ @ @ @ @ proceed with the transaction , which is expected to close very soon .
”

New: Derby County head for Gulf ownership
(Photo by Nathan Stirk/Getty Images)
Derby County are set to be the latest club to move into Gulf ownership, it emerged today.
Bin Zayed International LLC, owned by Sheikh Khaled bin Zayed Al Nehayan, has agreed a deal in principle with current owner Mel Morris.
Sheikh Khaled is a cousin of Manchester City owner Sheikh Mansour, who has poured millions of his personal fortune into turning the club into a global brand.
Read more: The week in Sports Business
Media reports suggest the deal is worth in the region of £60m.
A statement on the club’s website read: “These talks progressed to the point where a deal has, in principle, been agreed between the two parties.
“The club’s submission under the Owners and Director’s test for Derventio was approved by the EFL board on Thursday.
“Derventio Holdings (UK) Limited, who’s ultimate controlling entity is Bin Zayed International LLC, owned by Sheikh Khaled Zayed Bin Saquer Zayed Al Nayhan, may now proceed with the transaction, which is expected to close very soon.”


cityam--2020-11-06--The City A.M. Punter Podcast EP:25 Doncaster, Wincanton, Breeders' Cup & Hong Kong

Today trainer Harry Fry is our special guest , discussing a handful of his weekend runners at Wincanton , Aintree & Sandown , plus an update on his exciting newcomer Metier .
Racing editor Bill Esdaile looks at the best of the weekend action in the UK and at Keeneland in the USA where it ’ s Breeders ’ Cup weekend , plus Wally Pyrah talks us through some of the best Hong Kong races at Happy Valley racecourse on Sunday .
Hosted by Chris Barnett ‘ The Punter ’ has been City AM ’ s dedicated sports betting section @ @ @ @ @ @ @ focus on horseracing .
Throughout the season ‘ The Punter ’ will preview the weekend ’ s action every Friday along with in-depth coverage of all the major racing festivals .
In a partnership with the Hong Kong Jockey Club , ‘ The Punter ’ also previews every midweek Wednesday Hong Kong meeting as well as all the major meetings .
Every Friday , and for all major racing Festivals , the City AM racing podcast will give you in-depth analysis of the action .
Featuring interviews with leading trainers , jockeys and @ @ @ @ @ @ @ well-known racing broadcaster Chris Barnett who is joined by Bill Esdaile and Hong Kong racing expert Wally Pyrah City AM ’ s racing editor Bill Esdaile has written for the paper since 2008 .
He had previously written for publications including the Sporting Life , Racing Post and The Sportsman .
Each week he picks out his best bets for the weekend ’ s big racing action .
Chris Barnett has been a broadcasting specialist for over two decades , specialising in radio , video and podcast presentation and production .
Since working @ @ @ @ @ @ @ Radio , Royal Ascot , Glorious Goodwood , Cheltenham Festival Radio and more recently , Arena Racing , Chris has always been at the forefront of the top sporting events , grabbing interviews with those that matter .
Having spent most of the last decade out in Hong Kong working as a racing expert for the Hong Kong Jockey Club , Wally has teamed up with City AM to share his expert opinions on the weekly racing action .
He picks out his best bets for the weekend ’ s Hong Kong racing @ @

The City A.M. Punter Podcast EP:25 Doncaster, Wincanton, Breeders’ Cup & Hong Kong
Today trainer Harry Fry is our special guest, discussing a handful of his weekend runners at Wincanton, Aintree & Sandown, plus an update on his exciting newcomer Metier.
Racing editor Bill Esdaile looks at the best of the weekend action in the UK and at Keeneland in the USA where it’s Breeders’ Cup weekend, plus Wally Pyrah talks us through some of the best Hong Kong races at Happy Valley racecourse on Sunday. Hosted by Chris Barnett
The City A.M. Punter Podcast
‘The Punter’ has been City AM’s dedicated sports betting section for over a decade with a primary focus on horseracing. Throughout the season ‘The Punter’ will preview the weekend’s action every Friday along with in-depth coverage of all the major racing festivals. In a partnership with the Hong Kong Jockey Club, ‘The Punter’ also previews every midweek Wednesday Hong Kong meeting as well as all the major meetings.
Every Friday, and for all major racing Festivals, the City AM racing podcast will give you in-depth analysis of the action. Featuring interviews with leading trainers, jockeys and owners, the podcast is hosted by well-known racing broadcaster Chris Barnett who is joined by Bill Esdaile and Hong Kong racing expert Wally Pyrah
Bill Esdaile
City AM’s racing editor Bill Esdaile has written for the paper since 2008. He had previously written for publications including the Sporting Life, Racing Post and The Sportsman. Each week he picks out his best bets for the weekend’s big racing action.
Chris Barnett
Chris Barnett has been a broadcasting specialist for over two decades, specialising in radio, video and podcast presentation and production. Since working at SIS, Betfair Radio, Timeform Radio, Royal Ascot, Glorious Goodwood, Cheltenham Festival Radio and more recently, Arena Racing, Chris has always been at the forefront of the top sporting events, grabbing interviews with those that matter.
Wally Pyrah
Having spent most of the last decade out in Hong Kong working as a racing expert for the Hong Kong Jockey Club, Wally has teamed up with City AM to share his expert opinions on the weekly racing action. He picks out his best bets for the weekend’s Hong Kong racing action.


cityam--2020-11-06--FTSE 100 slips amid US election wait and rising Covid cases

The FTSE 100 and European stocks stalled after this week ’ s surprising rally , with the US election count continuing and coronavirus cases rising across the continent .
London ’ s blue-chip index opened higher but slipped into the red by mid-morning .
It was last down 0.1 per cent to 5,898 points .
The mid-cap FTSE 250 was 0.3 per cent lower .
Read more : US Election live : Georgia flips as Biden pulls ahead by 917 votes Stock markets around the world have rallied this week despite the US presidential remaining too close to call .
@ @ @ @ @ @ @ , with president Donald Trump claiming victory and accusing the Democrats of fraud , would lead to a sharp sell-off .
But that hasn ’ t materialised .
Instead , investors have bid up the big technology stocks , seeing them as a good bet after a close election that will likely lead to lower stimulus and less regulation .
However , European markets slipped this morning as coronavirus cases and new lockdowns once again made themselves felt .
In Germany , the Dax was down 0.8 per cent .
France ’ s @ @ @ @ @ @ @ while the Europe-wide Stoxx 600 had slipped 0.4 per cent .
Both France and Germany have put new lockdowns in place to try to control cases .
England yesterday entered a new month-long lockdown .
FTSE 100 buffeted by Covid and US election The Bank of England was forced to step in and inject £150bn more into the flagging economy yesterday .
That has helped the pound , to the detriment of the FTSE .
The index ’ s big overseas firms do worse when stiriling is stronger .
Nonetheless , stocks were @ @ @ @ @ @ @ said this was due to an unwinding of the “ reflation trade ” .
That is , bets that a big Biden win would lead to big fiscal stimulus and better growth .
Investors think a lack of stimulus and lower regulation would favour the fastest-growing companies , mainly the big tech names such as Amazon and Google .
The FTSE 100 lacks these kind of stocks , however , and so has lagged other indices slightly this week .
The dollar has fallen sharply and government bonds have also slipped back .
@ @ @ @ @ @ @ big with £150bn stimulus amid second lockdown Emmanuel Cau , strategist at Barclays , said : “ Equities have reacted surprisingly well to the unexpected and still unconfirmed outcome of the election .
“ Lower chances of a large fiscal stimulus and surging Covid cases weaken the reflation trade , yet it should not be completely written off .
”

Wall Street slips but FTSE 100 rises as Joe Biden edges towards presidency
While the Nasdaq added 0.34 per cent, the blue-chip S&P 500 edged 0.03 per cent higher and the Dow Jones added 0.18 per cent
Wall Street stocks slipped after a week of gains as Democrat challenger Joe Biden inched closer to the presidency, but the FTSE 100 rose on a mixed day’s trading.
The S&P 500 dipped 0.2 per cent while the Dow Jones fell 0.3 per cent. The tech-dominated Nasdaq was 0.5 per cent lower.
In the UK, the FTSE 100 rose 0.5 per cent after a choppy day’s trading to stand at 5,934 points.
Germany’s Dax was down 0.2 per cent but the Europe-wide Stoxx 600 was 0.1 per cent higher.
All eyes were on the US election results, which continued to trickle in after polling day on Tuesday. Joe Biden looked set to beat President Donald Trump, although in a much closer result than polls had suggested.
Analysts suggested US investors were taking profits after a week of gains. Another explanation was that they were bracing themselves for a bitter legal fight by the Trump campaign.
Wall Street takes cash off the table
Stocks have soared this week despite the uncertain election result. The Nasdaq was on track to end the week around seven per cent higher and the FTSE 100 was up around six per cent.
Investors said a small Biden victory would mean big stimulus is unlikely. This led to a stampede over the past few days into the big tech stocks such as Amazon and Google which are set to grow rapidly even if the economy slows.
Biden would also be less able to tighten regulations and raise taxes, investors said.
The fact that a big stimulus package is less likely saw an unwinding of the “reflation trade”. The dollar has fallen sharply over the last week and government bond yields have slipped in expectations of lower growth.
“Profit taking is kicking in after a remarkable run in financial markets,” said Craig Erlam, senior market analyst at Oanda.
“Investors have retained the faith in the process and are being rewarded,” he said. “But it seems the initial rally has run its course and cash is being taken off the table.”
FTSE 100 rises but European outlook murky
In the UK, the FTSE 100 rose along with the mid-cap FTSE 250. It opened in the green, then slipped into the red, and then rose again.
England yesterday entered a new month-long lockdown, prompting the Bank of England to launch £150bn more stimulus and chancellor Rishi Sunak to extend the main job support programme until March.
The outlook for European stocks remained uncertain, however, with surging coronavirus cases and new lockdowns.
“The continued spread of the coronavirus in Europe brings further cause for concern despite the recent gains,” said Joshua Mahony, senior market analyst at IG.
Mahony said lockdown measures are “likely to last well beyond the four-week timeframe set out in the UK”.


cityam--2020-11-06--Deloitte fined for pension scheme audit failures

Big Four firm Deloitte has been fined £362,500 for failures relating to the audit of a former client ’ s defined benefit ( DB ) pension scheme and the carrying value of the company ’ s intangible assets .
The Financial Reporting Council ( FRC ) described the former client as one of the largest local and regional multimedia organisations in the UK responsible for operating 236 publications and 203 websites .
The company entered administration in November 2018 .
The regulator did not name the company involved nor the audit partner at Deloitte .
The FRC said Deloitte failed @ @ @ @ @ @ @ the Engagement Quality Control Review ( EQCR ) was adequately documented , and that it failed to obtain sufficient appropriate audit evidence to substantiate the cash holding of the client ’ s DB scheme .
The FRC also said Deloitte failed to obtain sufficient appropriate audit evidence in respect of its stress testing of the company ’ s impairment model .
The problems relate to an audit carried out by Deloitte in 2015 .
The audit engagement partner who dealt with the case in question has been reprimanded by the FRC and will @ @ @ @ @ @ @ s costs of the investigation .
The decision notice detailing the failings , published this morning , does not question the truth or fairness of the company ’ s 2015 financial statements .
A Deloitte spokesperson said : “ We acknowledge and regret that aspects of our audit work for this entity did not comply with the relevant standards .
However as the FRC has recognised , these did not call into question the truth or fairness of the financial statements in question .
“ Audit quality remains our priority and we continue @ @ @ @ @ @ @ to seek improvement across all of our work.
” Deputy executive counsel to the FRC Claudia Mortimore said : “ The proportionate sanctions reflect the failures by the respondents to obtain sufficient appropriate audit evidence and to properly document work in significant areas of audit risk , but also recognise the limited nature of the breaches , which did not call into question the truth or fairness of the financial statements.
” Deloitte and two audit partners received a record £15million fine following an investigation into its audit of software firm Autonomy in @ @ @ @ @ @ @ criticism in recent years following several high profile audit failures .
Earlier this year the FRC found 29 of 88 audits carried out by Deloitte , PWC , EY , KPMG , BDO , Grant Thornton and Mazars this year needed improvements , with seven of these requiring significant improvements .

Deloitte fined for pension scheme audit failures
Deloitte has been fined £362,500 for failures relating to the audit of a former client’s defined benefit pension scheme.
Big Four firm Deloitte has been fined £362,500 for failures relating to the audit of a former client’s defined benefit (DB) pension scheme and the carrying value of the company’s intangible assets.
The Financial Reporting Council (FRC) described the former client as one of the largest local and regional multimedia organisations in the UK responsible for operating 236 publications and 203 websites. The company entered administration in November 2018.
The regulator did not name the company involved nor the audit partner at Deloitte.
The FRC said Deloitte failed to ensure the work carried out by the Engagement Quality Control Review (EQCR) was adequately documented, and that it failed to obtain sufficient appropriate audit evidence to substantiate the cash holding of the client’s DB scheme.
The FRC also said Deloitte failed to obtain sufficient appropriate audit evidence in respect of its stress testing of the company’s impairment model.
The problems relate to an audit carried out by Deloitte in 2015. The audit engagement partner who dealt with the case in question has been reprimanded by the FRC and will have to pay the executive counsel’s costs of the investigation.
The decision notice detailing the failings, published this morning, does not question the truth or fairness of the company’s 2015 financial statements.
A Deloitte spokesperson said: “We acknowledge and regret that aspects of our audit work for this entity did not comply with the relevant standards. However as the FRC has recognised, these did not call into question the truth or fairness of the financial statements in question.
“Audit quality remains our priority and we continue to enhance our audit quality processes and to seek improvement across all of our work.”
Deputy executive counsel to the FRC Claudia Mortimore said: “The proportionate sanctions reflect the failures by the respondents to obtain sufficient appropriate audit evidence and to properly document work in significant areas of audit risk, but also recognise the limited nature of the breaches, which did not call into question the truth or fairness of the financial statements.”
Deloitte and two audit partners received a record £15million fine following an investigation into its audit of software firm Autonomy in September.
The audit sector has faced criticism in recent years following several high profile audit failures.
Earlier this year the FRC found 29 of 88 audits carried out by Deloitte, PWC, EY, KPMG, BDO, Grant Thornton and Mazars this year needed improvements, with seven of these requiring significant improvements.


cityam--2020-11-06--Bentley gently goes green: Electric-only by 2030

Luxury carmaker Bentley has committed to switching to a fully electric vehicle line by 2030 with the aim of being an “ end-to-end carbon neutral organisation ” .
Following the introduction of the first electric model in 2024 , the carmaker has said it will only offer plug-in hybrid and electric models within its 2026 range .
By 2030 this will change to battery vehicles only .
Read more : Coronavirus : Luxury car brand Bentley to cut up to 1,000 jobs The transition , which will see Bentley retire its 12-cylinder petrol engines , will see the carmaker reinvent @ @ @ @ @ @ @ sustainable luxury mobility ” .
Bentley will launch two new plug-in hybrids in 2021 , joining the existing Bentayga Hybrid , as part of a previous commitment to offer a PHEV version of every model by 2023 .
Adrian Hallmark , Chairman and Chief Executive Officer of Bentley Motors , said : “ Since 1919 , Bentley has defined luxury grand touring .
Being at the forefront of progress is part of our DNA – the original Bentley boys were pioneers and leaders .
Now , as we look Beyond100 , we will @ @ @ @ @ @ @ and becoming the world ’ s benchmark luxury car business .
“ Driving this change includes , and also goes beyond our products , delivering a paradigm shift throughout our business , with credibility , authenticity , and integrity .
Within a decade , Bentley will transform from a 100 year old luxury car company to a new , sustainable , wholly ethical role model for luxury.
” The Volkswagen-owned company also said it would also work on improving its production facility in Crewe .
By the end of this year , all @ @ @ @ @ @ @ audit , verifying their sustainability credentials ” .
And by the end of 2025 it intends to reduce Crewe ’ s environmental impact by focusing on energy consumption and CO2 emissions .
The new sustainability commitment does not come without cost .
Hallmark told Sky News that the commitment would cost £3bn over the next seven years , a huge amount for the carmaker which announced 1,000 job cuts due to the pandemic .
Bentley confirmed a “ voluntary release programme ” in June blaming “ significant effects ” on its short-term financial @ @ @ @ @ @ @ cuts in the future .
However in its most recent statement the carmaker said the figure had been reduced to 800 employees and said its cost and investment structure had placed it in a position “ to achieve a positive financial performance for the full year ” .

Bentley gently goes green: Electric-only by 2030
Bentley’s profits went up 162 per cent.
Luxury carmaker Bentley has committed to switching to a fully electric vehicle line by 2030 with the aim of being an “end-to-end carbon neutral organisation”.
Following the introduction of the first electric model in 2024, the carmaker has said it will only offer plug-in hybrid and electric models within its 2026 range. By 2030 this will change to battery vehicles only.
The transition, which will see Bentley retire its 12-cylinder petrol engines, will see the carmaker reinvent itself as a “global leader in sustainable luxury mobility”.
Bentley will launch two new plug-in hybrids in 2021, joining the existing Bentayga Hybrid, as part of a previous commitment to offer a PHEV version of every model by 2023.
Adrian Hallmark, Chairman and Chief Executive Officer of Bentley Motors, said: “Since 1919, Bentley has defined luxury grand touring. Being at the forefront of progress is part of our DNA – the original Bentley boys were pioneers and leaders. Now, as we look Beyond100, we will continue to lead by reinventing the company and becoming the world’s benchmark luxury car business.
“Driving this change includes, and also goes beyond our products, delivering a paradigm shift throughout our business, with credibility, authenticity, and integrity. Within a decade, Bentley will transform from a 100 year old luxury car company to a new, sustainable, wholly ethical role model for luxury.”
The Volkswagen-owned company also said it would also work on improving its production facility in Crewe. By the end of this year, all suppliers “will have passed a sustainability audit, verifying their sustainability credentials”. And by the end of 2025 it intends to reduce Crewe’s environmental impact by focusing on energy consumption and CO2 emissions.
The new sustainability commitment does not come without cost. Hallmark told Sky News that the commitment would cost £3bn over the next seven years, a huge amount for the carmaker which announced 1,000 job cuts due to the pandemic.
Bentley confirmed a “voluntary release programme” in June blaming “significant effects” on its short-term financial outlook and did not rule out further cuts in the future.
However in its most recent statement the carmaker said the figure had been reduced to 800 employees and said its cost and investment structure had placed it in a position “to achieve a positive financial performance for the full year”.


cityam--2020-11-06--City Hall moves People's Question Time online for first time

City Hall said today that the first ever virtual People ’ s Question Time will be held on 12 November @ @ @ @ @ , Sadiq Khan , and London Assembly Members will answer questions from Londoners on key @ @ @ @ @ 7pm and 9pm .
People ’ s Question Time is held twice a year and @ @ @ @ @ question the Mayor and Assembly Members about their plans for the city .
Due to @ @ @ @ @ ’ s recently imposed national lockdown , this month ’ s event has been moved @ @ @ @ @ .
Londoners can register and submit their questions in advance via the Talk London page @ @ @ @ @ able to question the Mayor and Assembly Members live on the night .
The main @ @ @ @ @ London ’ s response to the challenges of the Covid-19 pandemic and lockdown restrictions .
@ @ @ @ @ , air quality , the environment and housing will also be discussed .
Navin Shah @ @ @ @ @ London Assembly and Assembly Member for Brent and Harrow will chair the event .

City Hall moves People’s Question Time online for first time
City Hall at More London near Tower Bridge has been home to the GLA since 2002
City Hall said today that the first ever virtual People’s Question Time will be held on 12 November.
The Mayor of London, Sadiq Khan, and London Assembly Members will answer questions from Londoners on key issues facing the capital between 7pm and 9pm.
People’s Question Time is held twice a year and gives Londoners a chance to question the Mayor and Assembly Members about their plans for the city.
Due to Covid-19 restrictions and the government’s recently imposed national lockdown, this month’s event has been moved online and will be livestreamed.
Londoners can register and submit their questions in advance via the Talk London page. They will also be able to question the Mayor and Assembly Members live on the night.
The main issue is likely to be London’s response to the challenges of the Covid-19 pandemic and lockdown restrictions.
The capital’s economy, air quality, the environment and housing will also be discussed.
Navin Shah AM, Chair of the London Assembly and Assembly Member for Brent and Harrow will chair the event.


cityam--2020-11-06--English airports will close without government support, AOA warns

The Airport Operators Association ( AOA ) has written to the Prime Minister to call for urgent support to help protect airports following restrictions on international travel announced as a part of England ’ s second national lockdown .
In a letter to Boris Johnson the trade body said airports would like to remain open throughout the lockdown , but without government support would not be able to do so .
Read more : British Airways owner IAG calls for airport testing as losses widen It said a lot was riding on the aviation sector ’ s success , including @ @ @ @ @ @ @ world : “ Without a successful aviation sector , your government ’ s ambitions to level-up the regions of the UK and to deliver a global trading Britain post-Brexit will be simply unachievable , ” it read .
England entered a second national lockdown earlier this week after the transmission rate of the Covid-19 virus and the number of cases increased across the country .
The AOA asked government for Business Rates Relief for English airports for 12 months , bringing them into line with their Northern Irish and Scottish counterparts , and @ @ @ @ @ @ @ It also asked the Welsh government to take similar action for Welsh airports .
The trade body asked government for the decision to remove tax-free shopping from airports to be reversed .
It also asked for urgent progress with testing to be made , and for it to be ready to reduce the need for quarantine when breaks in restrictions allow travel .
Read more : International testing success could allow reduced UK quarantine AOA chief executive Karen Dee said airpoints could not remain open indefinitely without government support .
“ That our @ @ @ @ @ @ @ have ever faced without the levels of support afforded to other sectors or by other European nations has left our sector on its knees , with airports losing money at a staggering rate , ” she said .
“ This is simply unsustainable , and it is imperative the government understands the brutal reality our airports face and brings forward a package of support measures without any further delays .
“ Without support our aviation sector faces an uncertain future which will hold back our national economic recovery and leave the government ’ @ @ @ @ @ @ @ ”

English airports will close without government support, AOA warns
The Airport Operators Association (AOA) has written to the Prime Minister to call for urgent support to help protect airports following restrictions on international travel announced as a part of England’s second national lockdown.
In a letter to Boris Johnson the trade body said airports would like to remain open throughout the lockdown, but without government support would not be able to do so.
It said a lot was riding on the aviation sector’s success, including Britain’s future place in the world: “Without a successful aviation sector, your government’s ambitions to level-up the regions of the UK and to deliver a global trading Britain post-Brexit will be simply unachievable,” it read.
England entered a second national lockdown earlier this week after the transmission rate of the Covid-19 virus and the number of cases increased across the country.
Better testing needed
The AOA asked government for Business Rates Relief for English airports for 12 months, bringing them into line with their Northern Irish and Scottish counterparts, and the hospitality and the retail sectors. It also asked the Welsh government to take similar action for Welsh airports.
The trade body asked government for the decision to remove tax-free shopping from airports to be reversed. It also asked for urgent progress with testing to be made, and for it to be ready to reduce the need for quarantine when breaks in restrictions allow travel.
AOA chief executive Karen Dee said airpoints could not remain open indefinitely without government support.
“That our airports have weathered the greatest challenge they have ever faced without the levels of support afforded to other sectors or by other European nations has left our sector on its knees, with airports losing money at a staggering rate,” she said.
“This is simply unsustainable, and it is imperative the government understands the brutal reality our airports face and brings forward a package of support measures without any further delays.
“Without support our aviation sector faces an uncertain future which will hold back our national economic recovery and leave the government’s Global Britain plans in tatters.”


cityam--2020-11-06--Boris Johnson says UK 'well prepared' for no-deal Brexit

The prime minister said today he hoped a post-Brexit trade deal with the European Union could be agreed , but the country was well prepared if final-stage talks with the bloc did not succeed .
“ I very much hope that we will [ get a deal ] , and obviously that depends on our friends and partners across the Channel , ” Boris Johnson told broadcasters this evening .
Read more : Watchdog slams Number 10 for failing to prepare Brexit borders “ I think there is a deal to be done if they want to do .
If @ @ @ @ @ @ @ very , very well prepared and as I have said before , we can do very , very well on Australian terms.
” Johnson has scheduled a call with Ursula von der Leyden this weekend , which will allow the leaders to “ take stock ” of the Brexit trade negotiations , the Independent reported .
Meetings between Lord Frost , the UK ’ s chief negotiator , and his EU counterpart Michel Barnier are due to continue next week .
Barnier yesterday reportedly told the bloc ’ s diplomats that the UK @ @ @ @ @ @ @ areas of trade deal talks .
At a confidential meeting yesterday afternoon , Barnier briefed representatives from the EU ’ s 27 member states , saying that “ fundamental differences ” remain between the two sides , Sky News reported .
According to minutes of the meeting seen by the broadcaster , Barnier said the most important hurdle was the “ level playing field ” , which would ensure the UK follows the same rules as the EU on issues such as labour law and state aid .
The EU is concerned that @ @ @ @ @ @ @ undercut European laws in order to reduce costs and bring in foreign investments .
The UK government has denied that it will attempt to do so .
Barnier told the EU diplomats that the level playing field is “ the most fundamental point where we still have major differences ” , according to Sky .
Read more : EU Commissioner : ’ 50/50 chance ’ UK and EU will strike Brexit deal “ The prime minister has stressed that alignment [ with European rules ] would breach sovereignty .
“ This question seriously @ @ @ @ @ @ @ doubt ” .
Barnier warned the meeting that without progress on the level playing field , the EU would be left “ unprotected against unfair competition ” .

Boris Johnson says UK ‘well prepared’ for no-deal Brexit
The prime minister said today he hoped a post-Brexit trade deal with the European Union could be agreed, but the country was well prepared if final-stage talks with the bloc did not succeed.
“I very much hope that we will [get a deal], and obviously that depends on our friends and partners across the Channel,” Boris Johnson told broadcasters this evening.
“I think there is a deal to be done if they want to do. If not, the country is of course very, very well prepared and as I have said before, we can do very, very well on Australian terms.”
Johnson has scheduled a call with Ursula von der Leyden this weekend, which will allow the leaders to “take stock” of the Brexit trade negotiations, the Independent reported.
Meetings between Lord Frost, the UK’s chief negotiator, and his EU counterpart Michel Barnier are due to continue next week.
Barnier yesterday reportedly told the bloc’s diplomats that the UK has “blocked” progress in key areas of trade deal talks.
At a confidential meeting yesterday afternoon, Barnier briefed representatives from the EU’s 27 member states, saying that “fundamental differences” remain between the two sides, Sky News reported.
According to minutes of the meeting seen by the broadcaster, Barnier said the most important hurdle was the “level playing field”, which would ensure the UK follows the same rules as the EU on issues such as labour law and state aid.
The EU is concerned that without the mechanism, the UK could undercut European laws in order to reduce costs and bring in foreign investments.
The UK government has denied that it will attempt to do so.
Barnier told the EU diplomats that the level playing field is “the most fundamental point where we still have major differences”, according to Sky.
“The prime minister has stressed that alignment [with European rules] would breach sovereignty.
“This question seriously throws the chances of an agreement into doubt”.
Barnier warned the meeting that without progress on the level playing field, the EU would be left “unprotected against unfair competition”.


cityam--2020-11-06--The best home delivery kits, from prepare-at-home gourmet meals to chocolates and whisky tasting

The prospect of another month without restaurants is frankly too much to bear , especially with the nights drawing in and the temperature dropping .
The hospitality sector was already on its knees and now it needs our help more than ever .
Thankfully you can kill two birds with one stone – supporting your favourite chefs and taking a little restaurant methadone – by ordering in some of these amazing home delivery kits , which we will be rounding up every week through lockdown .
One of the world ’ s top chefs Simon Rogan is offering delivery from @ @ @ @ @ @ @ ‘ at home ’ winter menu available Friday to Sunday , changing weekly .
A five-course Christmas feast is available to pre-order for arrival in the lead up to Christmas and New Year .
Read more : Lockdown board games : Forget Monopoly , here are the real games Even more exciting , Aulis London has also launched delivery for the first time , with its outre menu available for collection at the restaurant in Soho as well as delivery to zones 1-3 ( available Tuesday-Saturdays and changing every fortnight ) .
Find @ @ @ @ @ @ @ the The Frog restaurants – reviewed here in City A.M. – is offering a “ finish at home ” restaurant experience , with four menus available ( Sunday Lunch , £130 for 2 people ; Dine in Style , £200 ; Dine in Style vegetarian , £110 ; Who are you trying to impress ?
, £305 ) .
The slick operation allows you to scan a QR code to access a video of Handling preparing the ingredients you have been sent .
Find out more here .
Those with a sweet tooth @ @ @ @ @ @ @ 10 artisan chocolate bars .
Each month chocolate pioneer Willie Harcourt-Cooze will devise two unique chocolates made from unusual ingredients or rare beans , with the first month inspired by Japan .
You can also organise a virtual chocolate tasting session to make it a more social experience .
Find out more here .
London ’ s premier jazz lounge-cum-Scottish restaurant is running a delivery service for its unbeatable produce , with the best beef , cheese and wine available to be delivered straight to your door .
While you ’ ll have @ @ @ @ @ @ @ you can listen to live jazz or relax on the cigar terrace , biting into a rare Boisdale steak will certainly take the edge off .
World renowned chef Tommy Banks ’ nationwide delivery service , Made In Oldstead , offers premium meals featuring produce grown both on and around the family farm .
Options include the Made In Oldstead Food Box , with the option of three different , three-course menus , and the Classic Weekend Food Box , which includes two different three-course menus , each serving two people .
Alternatively @ @ @ @ @ @ @ a five-course menu and bottle of wine , perfect for extra-special occasions .
Find out more here .
Cornwall-based family business Philip Warren Butchers supply some of the country ’ s best restaurants including Kitchen Table , Paul Ainsworth at No .
6 , and Smokestak .
People at home can now buy their expertly dry-aged meat previously destined for these restaurants .
Find out more here .
Homeslice recently announced its Take & Bake pizzas are now available nationwide .
Customers across the country can now get their hands on an authentic @ @ @ @ @ @ @ the highest-quality ingredients and ready to bake at home .
Also available are Homeslice ’ s range of sauces for fans to drizzle over their pizzas .
Find out more here .
From casks to pairings , locally-produced to the exotic , the resident experts at the Craft Whisky Club have something for you .
Handpicked from the finest small batch and artisan whiskies from Scotland and beyond , this is an exciting way to create home tasting sessions over lockdown .
Each box includes up to two full size bottles , as @ @ @ @ @ @ @ about the booze .
Find out more here .
Our favourite smokehouse in London is now delivering smoked meats across London and beyond .
The meat is sourced from long-standing suppliers Philip Warren Butchers ( see above ) and Swaledale , before being gently smoked over kiln-dried English oak for up to 15 hours in a wood-fired smoker .
Find out more here .
Nine top chefs including Angela Hartnett ( Café Murano ) and Tom Cenci ( formerly of Loyal Tavern and Duck & Waffle head ) are serving up their inimitable @ @ @ @ @ @ @ every Friday with prices ranging from £31 to £55 , Dispatch is the perfect treat to see you into the weekend , with a range of amazing dishes that will cater for all refined tastes .
Find out more here .

The best home delivery kits, from prepare-at-home gourmet meals to chocolates and whisky tasting
The prospect of another month without restaurants is frankly too much to bear, especially with the nights drawing in and the temperature dropping. The hospitality sector was already on its knees and now it needs our help more than ever.
Thankfully you can kill two birds with one stone – supporting your favourite chefs and taking a little restaurant methadone – by ordering in some of these amazing home delivery kits, which we will be rounding up every week through lockdown.
Craft Whisky Club
Simon Rogan at Home
Smokestak at Home
Willie’s Cacao Launch Chocolate Tasting Box
HAME by Adam Handling
Made In Oldstead
Dishpatch
Boisdale
Philip Warren Butchers
Homeslice The first instalment in our new lockdown delivery services
Simon Rogan at home
One of the world’s top chefs Simon Rogan is offering delivery from his mainz restaurants, including a three-course ‘at home’ winter menu available Friday to Sunday, changing weekly. A five-course Christmas feast is available to pre-order for arrival in the lead up to Christmas and New Year.
Even more exciting, Aulis London has also launched delivery for the first time, with its outre menu available for collection at the restaurant in Soho as well as delivery to zones 1-3 (available Tuesday-Saturdays and changing every fortnight).
Find out more here.
HAME by Adam Handling
The chef behind the The Frog restaurants – reviewed here in City A.M. – is offering a “finish at home” restaurant experience, with four menus available (Sunday Lunch, £130 for 2 people; Dine in Style, £200; Dine in Style vegetarian, £110; Who are you trying to impress?, £305). The slick operation allows you to scan a QR code to access a video of Handling preparing the ingredients you have been sent.
Find out more here.
Willie’s Cacao Launch Chocolate Tasting Box
Those with a sweet tooth can order this Chocolate Tasting Box containing 10 artisan chocolate bars. Each month chocolate pioneer Willie Harcourt-Cooze will devise two unique chocolates made from unusual ingredients or rare beans, with the first month inspired by Japan. You can also organise a virtual chocolate tasting session to make it a more social experience.
Find out more here.
Boisdale
London’s premier jazz lounge-cum-Scottish restaurant is running a delivery service for its unbeatable produce, with the best beef, cheese and wine available to be delivered straight to your door. While you’ll have to hang on a few weeks before you can listen to live jazz or relax on the cigar terrace, biting into a rare Boisdale steak will certainly take the edge off.
Find out more here.
Made In Oldstead
World renowned chef Tommy Banks’ nationwide delivery service, Made In Oldstead, offers premium meals featuring produce grown both on and around the family farm.
Options include the Made In Oldstead Food Box, with the option of three different, three-course menus, and the Classic Weekend Food Box, which includes two different three-course menus, each serving two people. Alternatively there’s the Signature Menu, a five-course menu and bottle of wine, perfect for extra-special occasions.
Find out more here.
Philip Warren Butchers
Cornwall-based family business Philip Warren Butchers supply some of the country’s best restaurants including Kitchen Table, Paul Ainsworth at No. 6, and Smokestak. People at home can now buy their expertly dry-aged meat previously destined for these restaurants.
Find out more here.
Homeslice Take & Bake
Homeslice recently announced its Take & Bake pizzas are now available nationwide. Customers across the country can now get their hands on an authentic 12” Homeslice pizza, prepared using the highest-quality ingredients and ready to bake at home. Also available are Homeslice’s range of sauces for fans to drizzle over their pizzas.
Find out more here.
Craft Whisky Club
From casks to pairings, locally-produced to the exotic, the resident experts at the Craft Whisky Club have something for you. Handpicked from the finest small batch and artisan whiskies from Scotland and beyond, this is an exciting way to create home tasting sessions over lockdown.
Each box includes up to two full size bottles, as well as recommended food pairings and information about the booze.
Find out more here.
SMOKESTAK at Home
Our favourite smokehouse in London is now delivering smoked meats across London and beyond. The meat is sourced from long-standing suppliers Philip Warren Butchers (see above) and Swaledale, before being gently smoked over kiln-dried English oak for up to 15 hours in a wood-fired smoker.
Find out more here.
Dispatch
Nine top chefs including Angela Hartnett (Café Murano) and Tom Cenci (formerly of Loyal Tavern and Duck & Waffle head) are serving up their inimitable menus through delivery service Dishpatch. Delivered every Friday with prices ranging from £31 to £55, Dispatch is the perfect treat to see you into the weekend, with a range of amazing dishes that will cater for all refined tastes.
Find out more here.


cityam--2020-11-06--More than 2,000 jobs at risk as Edinburgh Woollen Mill collapses into administration

High street giant Edinburgh Woollen Mill has collapsed into administration , putting more than 2,000 jobs at risk in the latest blow to the beleaguered UK retail sector .
The firm , which is owned by billionaire businessman Philip Day , has appointed FRP Advisory as administrators to its Edinburgh Woollen Mill and Ponden Home brands , it announced this evening .
FRP said that 750 Edinburgh Woollen Mill staff and 116 employees of Ponden Home will be made redundant immediately .
Both brands will continue to trade while the insolvency firm searches for a buyer , but the remaining @ @ @ @ @ @ @ recent weeks 56 EWM and eight Ponden Homes stores had already closed , before the firm entered administration .
The company said today that its other brands , including Jaegers and Peacocks , are not affected by the administration process .
Tony Wright , joint administrator and partner at FRP , said : “ Recent months have proven extremely challenging for many retailers , even those that were trading well before the pandemic , including the teams at Edinburgh Woollen Mill and Ponden Home .
Read more : Philip Day ’ s Edinburgh @ @ @ @ @ @ @ of Fraser “ The administrations will provide some further protection while we continue our search for buyers to secure the long-term futures for both businesses .
“ Regrettably , the impact of Covid-19 on the brands ’ core customer base and tighter restrictions on trading mean that the current structure of the businesses is unsustainable and has resulted in redundancies .
We are working with all affected members of staff to provide the appropriate support .
”

More than 2,000 jobs at risk as Edinburgh Woollen Mill collapses into administration
High street giant Edinburgh Woollen Mill has collapsed into administration, putting more than 2,000 jobs at risk in the latest blow to the beleaguered UK retail sector.
The firm, which is owned by billionaire businessman Philip Day, has appointed FRP Advisory as administrators to its Edinburgh Woollen Mill and Ponden Home brands, it announced this evening.
FRP said that 750 Edinburgh Woollen Mill staff and 116 employees of Ponden Home will be made redundant immediately.
Both brands will continue to trade while the insolvency firm searches for a buyer, but the remaining 2,034 jobs are at risk.
In recent weeks 56 EWM and eight Ponden Homes stores had already closed, before the firm entered administration.
The company said today that its other brands, including Jaegers and Peacocks, are not affected by the administration process.
Tony Wright, joint administrator and partner at FRP, said: “Recent months have proven extremely challenging for many retailers, even those that were trading well before the pandemic, including the teams at Edinburgh Woollen Mill and Ponden Home.
“The administrations will provide some further protection while we continue our search for buyers to secure the long-term futures for both businesses.
“Regrettably, the impact of Covid-19 on the brands’ core customer base and tighter restrictions on trading mean that the current structure of the businesses is unsustainable and has resulted in redundancies. We are working with all affected members of staff to provide the appropriate support.”


cityam--2020-11-06--Editorial: Business now has little to fear from Biden - so a victory for the rules can be toasted

In the run-up to the UK election in 2019 , this newspaper said that whether you agreed with Jeremy Corbyn ’ s ( ruinous ) economic plans or found granting Boris Johnson a free hand with Brexit too much to bear , that Corbyn and his Labour Party did not deserve your vote .
The reason ?
The culture of unchecked anti-Semitism and racism within the ranks , alongside the trashing of democratic norms : of free speech , of the media ’ s right to report and question , of diversity of thought .
Assaults on democracy are bad @ @ @ @ @ @ @ a vote in the US election , but reflecting on what is now almost certainly a Biden win , we can say the same .
That no matter your views on Trump as a dealmaker , his performance on the economy , or his foreign policy brinkmanship – all of which deserve credit – his defeat is a victory for the rules-based order , for faith in the institutions of the west , and above all else for plain old decency .
His behaviour since the vote – including the most extraordinary speech @ @ @ @ @ @ @ – only bears out that verdict .
The biggest winners of another four years of Trump in the Oval Office sit in Beijing and Moscow – and frankly , they are already making more inroads into the global order than we find comfortable .
Read more : Eyes turn to the Fed as US election result delayed The US economy had been motoring for three years before the Covid-19 pandemic struck , and its recovery deeply impressive .
It is tempting to say , sat here in the City of London , that @ @ @ @ @ @ @ s tax-cut rocketboosters would have been just the tonic the global economy needed .
There is little to fear from a hamstrung Biden Joe Biden ’ s necessary fawning to the left of his party to ensure his nomination – which saw him commit to all sorts of hare-brained schemes – meant the comparison with Trump was all the more striking .
But surveying the wreckage of three days of political drama , the global economy and the rules based order may have got the best of both worlds .
Biden will be @ @ @ @ @ @ @ radical economic restructuring he was half-heartedly pushing on the stump .
The fears of Bernie Sanders in Labor and Eliazbeth Warren in the Treasury evaporated the moment Americans refused to cede control of the Senate to the Democrats .
Biden will be forced to govern as a centrist if he wants to push anything forward .
The economy will have to be a vital part of his considerations .
And whilst he may not be able to reverse some of the DC rhetoric in regards to China , it seems unlikely he will @ @ @ @ @ @ @ to global trade as his predecessor .
Fears that the end of a Trump presidency signal the end of any hope of a UK-US trade deal are , we think , overblown .
So all eyes now turn to the Fed .
If a billion-dollar stimulus is unlikely to get through Congress , then the Fed will need to step in with their own package to keep the recovery going .
They have shown boldness before – more will be needed .

Editorial: Business now has little to fear from Biden – so a victory for the rules can be toasted
(Photo by Ronda Churchill / AFP) (Photo by RONDA CHURCHILL/AFP via Getty Images)
In the run-up to the UK election in 2019, this newspaper said that whether you agreed with Jeremy Corbyn’s (ruinous) economic plans or found granting Boris Johnson a free hand with Brexit too much to bear, that Corbyn and his Labour Party did not deserve your vote.
The reason? The culture of unchecked anti-Semitism and racism within the ranks, alongside the trashing of democratic norms: of free speech, of the media’s right to report and question, of diversity of thought.
Assaults on democracy are bad for business.
We did not have a vote in the US election, but reflecting on what is now almost certainly a Biden win, we can say the same.
That no matter your views on Trump as a dealmaker, his performance on the economy, or his foreign policy brinkmanship – all of which deserve credit – his defeat is a victory for the rules-based order, for faith in the institutions of the west, and above all else for plain old decency.
His behaviour since the vote – including the most extraordinary speech anybody who follows politics has ever seen – only bears out that verdict.
The biggest winners of another four years of Trump in the Oval Office sit in Beijing and Moscow – and frankly, they are already making more inroads into the global order than we find comfortable.
Read more: Eyes turn to the Fed as US election result delayed
The US economy had been motoring for three years before the Covid-19 pandemic struck, and its recovery deeply impressive.
It is tempting to say, sat here in the City of London, that keeping the US economy on Trump’s tax-cut rocketboosters would have been just the tonic the global economy needed.
There is little to fear from a hamstrung Biden
(Photo by Drew Angerer/Getty Images)
Joe Biden’s necessary fawning to the left of his party to ensure his nomination – which saw him commit to all sorts of hare-brained schemes – meant the comparison with Trump was all the more striking.
But surveying the wreckage of three days of political drama, the global economy and the rules based order may have got the best of both worlds.
Biden will be unable to push through any of the radical economic restructuring he was half-heartedly pushing on the stump.
The fears of Bernie Sanders in Labor and Eliazbeth Warren in the Treasury evaporated the moment Americans refused to cede control of the Senate to the Democrats. Biden will be forced to govern as a centrist if he wants to push anything forward. The economy will have to be a vital part of his considerations.
And whilst he may not be able to reverse some of the DC rhetoric in regards to China, it seems unlikely he will be quite as bellicose when it comes to global trade as his predecessor. Fears that the end of a Trump presidency signal the end of any hope of a UK-US trade deal are, we think, overblown.
So all eyes now turn to the Fed. If a billion-dollar stimulus is unlikely to get through Congress, then the Fed will need to step in with their own package to keep the recovery going. They have shown boldness before – more will be needed.


cityam--2020-11-06--Republican civil war looms as Trump stance splits party

With Democratic candidate Joe Biden closing in on a 2020 election victory , senior figures in the Republican party are split on whether to back Trump as he pedals baseless claims about election fraud .
In the last 24 hours Donald Trump has spread falsehoods about the legitimacy of the 2020 election , having claimed mass election fraud against him – for which there is no evidence .
In a press conference broadcast last night the President said : “ If you count the legal votes , I easily win .
If you count the illegal votes , they can @ @ @ @ @ @ @ ” The narrative has prompted anger among some Trump supporters who believe election fraud has taken place .
Yesterday Facebook removed a fast-growing group in which supporters of US President posted violent rhetoric .
The group called for “ boots on the ground to protect the integrity of the vote , ” and had grown to 365,000 members in a day .
Senior Republicans have been split on publicly backing Donald Trump following his false claims about election fraud .
Senate majority leader Mitch McConnell appeared to back Trump ’ s claims that @ @ @ @ @ @ @ , although he made it clear every vote should be counted .
In the past few days Trump has at times suggested counting should stop .
Senator Lindsey Graham , a close ally of the President and chair of the Senate Judiciary Committee , defended Trump on Thursday evening and echoed his claims of a rigged election : “ I ’ m here tonight to stand with President Trump.
” GOP chairwoman Ronna McDaniel claimed : “ Democrats and the media ” want to “ ignore clear irregularities ” and “ rush to @ @ @ @ @ @ @ McCarty , a Republican representative in California , told Republicans “ do not be silenced ” in an interview with Fox News , where he appeared to unequivocally back the President ’ s claims .
Senator Mitt Romney , himself a former presidential candidate , tweeted a small statement that neither backed Trump ’ s claims nor entirely dismissed them .
Other Republicans did not mince their words when it came to criticising Trump ’ s baseless claims .
Republican representative Adam Kinzinger urged followers to “ stop spreading debunked misinformation ” , @ @ @ @ @ @ @ ” , going entirely against what Donald Trump has claimed .
According to US news site The Hill , Republican Maryland governor Larry Hogan said there was “ no defence ” for the President ’ s comments “ undermining our Democratic process.
” Representative Will Hurd said the President was “ undermining our political process ” , describing Trump ’ s rhetoric as “ dangerous and wrong ” .
Other Republican leaders have so far been silent .
CNN reported Senate Majority Whip John Thune of South Dakota , as well as Senator @ @ @ @ @ @ @ of Missouri , Deb Fischer of Nebraska , Joni Ernst of Iowa and Todd Young of Indiana – all members of Senate GOP leadership – did not respond to requests for comment on supposed election fraud .

Republican civil war looms as Trump stance splits party
Republicans are divided on what to say about Trump’s election fraud claims.
With Democratic candidate Joe Biden closing in on a 2020 election victory, senior figures in the Republican party are split on whether to back Trump as he pedals baseless claims about election fraud.
In the last 24 hours Donald Trump has spread falsehoods about the legitimacy of the 2020 election, having claimed mass election fraud against him – for which there is no evidence.
In a press conference broadcast last night the President said: “If you count the legal votes, I easily win. If you count the illegal votes, they can try to steal the election from us.”
The narrative has prompted anger among some Trump supporters who believe election fraud has taken place. Yesterday Facebook removed a fast-growing group in which supporters of US President posted violent rhetoric. The group called for “boots on the ground to protect the integrity of the vote,” and had grown to 365,000 members in a day.
Senior Republicans have been split on publicly backing Donald Trump following his false claims about election fraud.
Senate majority leader Mitch McConnell appeared to back Trump’s claims that some votes could be “illegal”, although he made it clear every vote should be counted. In the past few days Trump has at times suggested counting should stop.
Here’s how this must work in our great country: Every legal vote should be counted. Any illegally-submitted ballots must not. All sides must get to observe the process. And the courts are here to apply the laws & resolve disputes.
That's how Americans' votes decide the result. — Leader McConnell (@LeaderMcConnell) November 6, 2020
Senator Lindsey Graham, a close ally of the President and chair of the Senate Judiciary Committee, defended Trump on Thursday evening and echoed his claims of a rigged election: “I’m here tonight to stand with President Trump.”
GOP chairwoman Ronna McDaniel claimed: “Democrats and the media” want to “ignore clear irregularities” and “rush to call states as won”.
Democrats and the media spent four years talking about a Russia hoax on the grounds of election integrity.
But less than 48 hours after polls closed in an actual presidential election, they want to ignore clear irregularities and rush to call states as won.
Unreal! — Ronna McDaniel (@GOPChairwoman) November 6, 2020
Kevin McCarty, a Republican representative in California, told Republicans “do not be silenced” in an interview with Fox News, where he appeared to unequivocally back the President’s claims.
Republicans will not be silenced.
We demand transparency. We demand accuracy. And we demand that the legal votes be protected. pic.twitter.com/1RZbzEOSfH — Kevin McCarthy (@GOPLeader) November 6, 2020
Senator Mitt Romney, himself a former presidential candidate, tweeted a small statement that neither backed Trump’s claims nor entirely dismissed them.
Other Republicans did not mince their words when it came to criticising Trump’s baseless claims.
Republican representative Adam Kinzinger urged followers to “stop spreading debunked misinformation”, adding: “this is getting insane”, going entirely against what Donald Trump has claimed.
We want every vote counted, yes every legal vote (of course). But, if you have legit concerns about fraud present EVIDENCE and take it to court. STOP Spreading debunked misinformation… This is getting insane. — Adam Kinzinger (@RepKinzinger) November 6, 2020
According to US news site The Hill, Republican Maryland governor Larry Hogan said there was “no defence” for the President’s comments “undermining our Democratic process.”
Representative Will Hurd said the President was “undermining our political process”, describing Trump’s rhetoric as “dangerous and wrong”.
A sitting president undermining our political process & questioning the legality of the voices of countless Americans without evidence is not only dangerous & wrong, it undermines the very foundation this nation was built upon. Every American should have his or her vote counted. — Will Hurd (@WillHurd) November 6, 2020
Other Republican leaders have so far been silent. CNN reported Senate Majority Whip John Thune of South Dakota, as well as Senator John Cornyn of Texas, Roy Blunt of Missouri, Deb Fischer of Nebraska, Joni Ernst of Iowa and Todd Young of Indiana – all members of Senate GOP leadership – did not respond to requests for comment on supposed election fraud.


cityam--2020-11-06--Wall Street slips but FTSE 100 rises as Joe Biden edges towards presidency

Wall Street stocks slipped after a week of gains as Democrat challenger Joe Biden inched closer to the presidency , but the FTSE 100 rose on a mixed day ’ s trading .
The S & P 500 dipped 0.2 per cent while the Dow Jones fell 0.3 per cent .
The tech-dominated Nasdaq was 0.5 per cent lower .
Read more : Breaking : Joe Biden almost over the line with leads in Georgia and Pennsylvania In the UK , the FTSE 100 rose 0.5 per cent after a choppy day ’ s trading to stand at 5,934 points @ @ @ @ @ @ @ 0.2 per cent but the Europe-wide Stoxx 600 was 0.1 per cent higher .
All eyes were on the US election results , which continued to trickle in after polling day on Tuesday .
Joe Biden looked set to beat President Donald Trump , although in a much closer result than polls had suggested .
Analysts suggested US investors were taking profits after a week of gains .
Another explanation was that they were bracing themselves for a bitter legal fight by the Trump campaign .
Stocks have soared this week despite the @ @ @ @ @ @ @ on track to end the week around seven per cent higher and the FTSE 100 was up around six per cent .
Investors said a small Biden victory would mean big stimulus is unlikely .
This led to a stampede over the past few days into the big tech stocks such as Amazon and Google which are set to grow rapidly even if the economy slows .
Biden would also be less able to tighten regulations and raise taxes , investors said .
The fact that a big stimulus package is less likely @ @ @ @ @ @ @ trade ” .
The dollar has fallen sharply over the last week and government bond yields have slipped in expectations of lower growth .
Read more : US Election : Biden ’ s ( almost certain ) win : How it happened “ Profit taking is kicking in after a remarkable run in financial markets , ” said Craig Erlam , senior market analyst at Oanda .
“ Investors have retained the faith in the process and are being rewarded , ” he said .
“ But it seems the initial rally has @ @ @ @ @ @ @ taken off the table.
” In the UK , the FTSE 100 rose along with the mid-cap FTSE 250 .
It opened in the green , then slipped into the red , and then rose again .
England yesterday entered a new month-long lockdown , prompting the Bank of England to launch £150bn more stimulus and chancellor Rishi Sunak to extend the main job support programme until March .
The outlook for European stocks remained uncertain , however , with surging coronavirus cases and new lockdowns .
Read more : Bank of England @ @ @ @ @ @ @ lockdown “ The continued spread of the coronavirus in Europe brings further cause for concern despite the recent gains , ” said Joshua Mahony , senior market analyst at IG .
Mahony said lockdown measures are “ likely to last well beyond the four-week timeframe set out in the UK ” .


cityam--2020-11-06--Wellcome Trust offers to buy developer Urban & Civic for £506m

The Wellcome Trust has made a £506m offer for housing developer Urban & Civic for £506m , as the health research charity ’ s investment arm bets on the residential property sector in the south of England .
The charity , which has an investment fund worth around £26.8bn , said the recommended offer is “ fully aligned with our existing strategy of investing in businesses over the long term ” .
Read more : Wellcome Trust urges firms to donate £6bn to medical coronavirus fight It had previously partnered with Urban & Civic on a Manydown , a new @ @ @ @ @ @ @ s investment division chief executive Peter Pereira Gray said : “ We know the Urban & Civic business and its experienced management team from our recent joint venture .
“ We welcome Urban & Civic ’ s management and employees to Wellcome and look forward to working with them to invest in and develop the business further .
We believe that the two groups ’ complementary strengths will create a business well-equipped to deliver Urban & Civic ’ s long-term potential.
” The developer has 10 strategic sites over 11,050 acres , which @ @ @ @ @ @ @ projects and are mostly within 100 miles of London .
Read more : No-deal Brexit a ‘ threat ’ to UK ’ s science sector , says Wellcome Trust Urban & Civic chairman Alan Dickinson added : “ The proposal rests on comprehensive industrial logic .
Urban & Civic was established just 10 years ago with the specific intention of disrupting prevailing residential presumptions and now leads in strategic sit master development .
“ Wellcome is steeped in property experience and has a strong record of alternative asset class investment .
”

Wellcome Trust offers to buy developer Urban & Civic for £506m
The Wellcome Trust has made a £506m offer for housing developer Urban & Civic for £506m, as the health research charity’s investment arm bets on the residential property sector in the south of England.
The charity, which has an investment fund worth around £26.8bn, said the recommended offer is “fully aligned with our existing strategy of investing in businesses over the long term”.
It had previously partnered with Urban & Civic on a Manydown, a new garden town near Basingstoke.
Wellcome’s investment division chief executive Peter Pereira Gray said: “We know the Urban & Civic business and its experienced management team from our recent joint venture.
“We welcome Urban & Civic’s management and employees to Wellcome and look forward to working with them to invest in and develop the business further. We believe that the two groups’ complementary strengths will create a business well-equipped to deliver Urban & Civic’s long-term potential.”
The developer has 10 strategic sites over 11,050 acres, which are predominantly brownfield areas for mixed-use housing-led projects and are mostly within 100 miles of London.
Urban & Civic chairman Alan Dickinson added: “The proposal rests on comprehensive industrial logic. Urban & Civic was established just 10 years ago with the specific intention of disrupting prevailing residential presumptions and now leads in strategic sit master development.
“Wellcome is steeped in property experience and has a strong record of alternative asset class investment.”


cityam--2020-11-06--London tops list of The World's 50 Best Bars... But who won?

Today of all days , as the UK enters its second lockdown , seems like a strange time to celebrate the world ’ s finest bars .
But Londoners were today given a reminder of exactly what we ’ re missing , with the capital being crowned the undisputed champion of the drinking world in the new list of the 50 best bars on the planet .
Read more : Lockdown board games : Forget Monopoly , here are the real games The capital bagged eight spots on the coveted list , including the top spot , which went to @ @ @ @ @ @ @ drinking holes on the list were Tayēr + Elementary ( 5 ) , Kwānt ( 6 ) – which also took the gong for Best New Opening – American Bar ( 20 ) , Lyaness ( 29 ) , Swift ( 33 ) , Three Sheets ( 34 ) and Artesian ( 41 ) .
New York had the second most bars on the 50 best list with five , including second placed Dante .
The top two bars switched place after Dante topped the 2019 list .
Europe proved to be the @ @ @ @ @ @ @ top-notch boozing , with 21 entries on the list , compared to 15 in Asia and 10 in North America .
“ Hats off to Connaught Bar , undoubtedly one of the finest cocktail bars of our time , ” said Mark Sansom , content editor for The World ’ s 50 Best Bars .
“ The institution has earned a place on the list every year since 2010 and it has gradually grown in stature to become the world-beating bar it is today .
Ago Perrone and his team are dedicated to @ @ @ @ @ @ @ the guest experience to choreograph a faultless service .
The Martinis aren ’ t bad , either .
Read more : The Mandalorian Season 2 episode by episode : S2E1 review “ We at 50 Best hope that the announcement of The World ’ s 50 Best Bars 2020 will act as a show of strength for the global bar community .
It displays to the world that even in the face of the ever-shifting challenges and restrictions being thrown at them , bars are still doing everything that they can to continue @ @ @ @ @ @ @ As we move into the next stages of international recovery , it is vital to get the message out that bars are open for business and ready to receive guests safely and securely.
” The Tier 2 restrictions and the prospect of yet another month without trading have ben called a “ death knell ” for the hospitality sector , with care minister Helen Whately warning that many bars and restaurants will not recover from a further lockdown .
See the full list here .

London tops list of The World’s 50 Best Bars… But who won?
Winners in The World’s 50 Best Bars
Today of all days, as the UK enters its second lockdown, seems like a strange time to celebrate the world’s finest bars.
But Londoners were today given a reminder of exactly what we’re missing, with the capital being crowned the undisputed champion of the drinking world in the new list of the 50 best bars on the planet.
The capital bagged eight spots on the coveted list, including the top spot, which went to the Connaught Bar. The other London drinking holes on the list were Tayēr + Elementary (5), Kwānt (6) – which also took the gong for Best New Opening – American Bar (20), Lyaness (29), Swift (33), Three Sheets (34) and Artesian (41).
New York had the second most bars on the 50 best list with five, including second placed Dante. The top two bars switched place after Dante topped the 2019 list.
Europe proved to be the place to be when it comes to top-notch boozing, with 21 entries on the list, compared to 15 in Asia and 10 in North America.
“Hats off to Connaught Bar, undoubtedly one of the finest cocktail bars of our time,” said Mark Sansom, content editor for The World’s 50 Best Bars. “The institution has earned a place on the list every year since 2010 and it has gradually grown in stature to become the world-beating bar it is today. Ago Perrone and his team are dedicated to excellence and look at every element of the guest experience to choreograph a faultless service. The Martinis aren’t bad, either.
“We at 50 Best hope that the announcement of The World’s 50 Best Bars 2020 will act as a show of strength for the global bar community. It displays to the world that even in the face of the ever-shifting challenges and restrictions being thrown at them, bars are still doing everything that they can to continue to provide great hospitality experiences.
“As we move into the next stages of international recovery, it is vital to get the message out that bars are open for business and ready to receive guests safely and securely.”
The Tier 2 restrictions and the prospect of yet another month without trading have ben called a “death knell” for the hospitality sector, with care minister Helen Whately warning that many bars and restaurants will not recover from a further lockdown.
See the full list here.


cityam--2020-11-06--Breaking: Joe Biden almost over the line with leads in Georgia and Pennsylvania

Joe Biden is just inches away from becoming the 46th President of the United States after taking the lead in the key battleground of Pennsylvania .
In a drastic flip from red to blue , the Democrat edged past incumbent President Donald Trump in the Southern state , leaving Biden in touching distance of Pennsylvania ’ s 20 electoral votes that would tip him to victory .
Read more : US Election live : Biden inches away from White House as he takes the lead in Pennsylvania Both Biden and Trump need 270 electoral votes to enter the White House @ @ @ @ @ @ @ , against Trump ’ s 214 .
Pennsylvania is the biggest state left on the board — if Biden wins in Pennsylvania , he wins the presidency .
The Democrat also maintains leads in three other states that have yet to be declared .
Biden steadily erased Trump ’ s early lead in Pennsylvania this morning , after more than 31,000 mail-in votes counted in Philadelphia came out overwhelming in favour of the Democrat .
An extra 2016 votes from Bucks Country meant he cruised past the Republican by 6,737 votes in the @ @ @ @ @ @ @ for any path to reelection for Trump .
In a last-ditch bid to block Biden ’ s route to victory , the President ’ s legal team has challenged the Pennsylvania count in court , after Trump last night baselessly claimed wide-scale electoral “ fraud ” .
Presidential candidates have only beaten incumbent Presidents four times in US history .
If Biden enters the White House , he will not only make Trump the fifth ever one-term President , but will also make Kamala Harris the first ever female vice president and the @ @ @ @ @ @ @ Speaking briefly to reporters in Wilmington , Delaware , the presidential hopeful urged the American public to show a “ little patience ” as the vote counting in battleground states stretched into its third day .
“ Democracy can sometimes be messy , ” he said .
Biden ’ s path to presidency received critical reinforcement this morning as the Democrat also edged past Trump in Georgia , flipping the state from red to blue .
His 917-vote lead against Trump means Georgia ’ s 16 electoral votes are now within easy reach @ @ @ @ @ @ @ several clear routes to victory .
He currently leads in Pennsylvania , Georgia , Nevada and Arizona .
Read more : US Election : Biden ’ s ( almost certain ) win : How it happened In Arizona , the continuing vote count slimmed down Biden ’ s early lead in the state to roughly 47,000 votes , but still firmly placed him in in pole position to take the state .
Several outlets prematurely called the state for the former VP yesterday , prompting furious backlash from an increasingly desperate Trump .
@ @ @ @ @ @ @ call Biden the “ president-elect ” if he passes the 270 mark , in a move that has sparked outrage from politicians across the US .
Memos leaked to CNN showed instructions for Fox anchors to “ stay away ” from using the description , and to instead say Biden has “ enough electoral votes to win the presidency .
”

Breaking: Joe Biden almost over the line with leads in Georgia and Pennsylvania
Joe Biden is just inches away from becoming the 46th President of the United States after taking the lead in the key battleground of Pennsylvania.
In a drastic flip from red to blue, the Democrat edged past incumbent President Donald Trump in the Southern state, leaving Biden in touching distance of Pennsylvania’s 20 electoral votes that would tip him to victory.
Both Biden and Trump need 270 electoral votes to enter the White House. Biden is currently on 253 votes, against Trump’s 214.
Pennsylvania is the biggest state left on the board — if Biden wins in Pennsylvania, he wins the presidency. The Democrat also maintains leads in three other states that have yet to be declared.
Biden steadily erased Trump’s early lead in Pennsylvania this morning, after more than 31,000 mail-in votes counted in Philadelphia came out overwhelming in favour of the Democrat.
An extra 2016 votes from Bucks Country meant he cruised past the Republican by 6,737 votes in the state, all but shutting the door for any path to reelection for Trump.
In a last-ditch bid to block Biden’s route to victory, the President’s legal team has challenged the Pennsylvania count in court, after Trump last night baselessly claimed wide-scale electoral “fraud”.
Presidential candidates have only beaten incumbent Presidents four times in US history.
If Biden enters the White House, he will not only make Trump the fifth ever one-term President, but will also make Kamala Harris the first ever female vice president and the first ever vice president of colour.
Speaking briefly to reporters in Wilmington, Delaware, the presidential hopeful urged the American public to show a “little patience” as the vote counting in battleground states stretched into its third day.
“Democracy can sometimes be messy,” he said.
Biden’s path to presidency received critical reinforcement this morning as the Democrat also edged past Trump in Georgia, flipping the state from red to blue.
His 917-vote lead against Trump means Georgia’s 16 electoral votes are now within easy reach.
The former vice president now has several clear routes to victory. He currently leads in Pennsylvania, Georgia, Nevada and Arizona.
In Arizona, the continuing vote count slimmed down Biden’s early lead in the state to roughly 47,000 votes, but still firmly placed him in in pole position to take the state.
Several outlets prematurely called the state for the former VP yesterday, prompting furious backlash from an increasingly desperate Trump.
Fox News has instructed anchors not to call Biden the “president-elect” if he passes the 270 mark, in a move that has sparked outrage from politicians across the US.
Memos leaked to CNN showed instructions for Fox anchors to “stay away” from using the description, and to instead say Biden has “enough electoral votes to win the presidency.”


cityam--2020-11-07--Coronavirus: UK bans all travel to and from Denmark after mink outbreak

The government has announced a total ban on travel to and from Denmark following concern over a new strain of coronavirus in the country ’ s mink farms .
Denmark has announced strict new lockdown rules and a nationwide mink cull after authorities discovered a mutated coronavirus strain in the animals .
Read more : Coronavirus pressure drives down number of permanent jobs The UK last night initially responded by enforcing a two-week quarantine on all arrivals to Britain from Denmark .
However , transport secretary Grant Shapps today beefed up the UK ’ s response to the outbreak , @ @ @ @ @ @ @ Denmark , with the exception of hauliers and freight .
The new measures came into effect as of 4am this morning , and will be reviewed after a week .
The Department for Transport said the decision came after further information from Danish health authorities that the variant coronavirus strain had spread to local communities .
“ Visitors arriving into the UK from Denmark will not be permitted entry into the UK , ” Shapps said on Twitter .
“ This decision to act quickly follows on from health authorities in Denmark reporting @ @ @ @ @ @ @ ” A spokeswoman from the Department for Transport said : “ Unlike other travel to the UK , there will be no exemptions to this quarantine policy .
“ The UK government is working closely with international partners to understand the changes in the virus that have been reported in Denmark and we are conducting a programme of further research here in the UK to inform our risk assessments.
” Read more : Astrazeneca boosts revenue but misses first vaccine delivery target Chief medical officer Chris Whitty is understood to be particularly concerned @ @ @ @ @ @ @ over fears the mutant coronavirus strain could prove resistant to several vaccines being developed .
Danish ministers have insisted they are acting with an “ abundance of caution ” by imposing strict lockdown measures in the country ’ s northern Jutland region .
It has also ordered the cull 17m mink on its commercial fur farms .

Coronavirus: UK bans all travel to and from Denmark after mink outbreak
The government has announced a total ban on travel to and from Denmark following concern over a new strain of coronavirus in the country’s mink farms.
Denmark has announced strict new lockdown rules and a nationwide mink cull after authorities discovered a mutated coronavirus strain in the animals.
The UK last night initially responded by enforcing a two-week quarantine on all arrivals to Britain from Denmark.
However, transport secretary Grant Shapps today beefed up the UK’s response to the outbreak, announcing a total ban on arrivals from Denmark, with the exception of hauliers and freight.
The new measures came into effect as of 4am this morning, and will be reviewed after a week.
The Department for Transport said the decision came after further information from Danish health authorities that the variant coronavirus strain had spread to local communities.
“Visitors arriving into the UK from Denmark will not be permitted entry into the UK,” Shapps said on Twitter.
“This decision to act quickly follows on from health authorities in Denmark reporting widespread outbreaks of coronavirus in mink farms.”
A spokeswoman from the Department for Transport said: “Unlike other travel to the UK, there will be no exemptions to this quarantine policy.
“The UK government is working closely with international partners to understand the changes in the virus that have been reported in Denmark and we are conducting a programme of further research here in the UK to inform our risk assessments.”
Chief medical officer Chris Whitty is understood to be particularly concerned by the latest developments in Denmark, over fears the mutant coronavirus strain could prove resistant to several vaccines being developed.
Danish ministers have insisted they are acting with an “abundance of caution” by imposing strict lockdown measures in the country’s northern Jutland region. It has also ordered the cull 17m mink on its commercial fur farms.


cityam--2020-11-07--Goldman Sachs to shift $60bn of assets to Germany ahead of Brexit

Goldman Sachs is set to shift as much as $ 60bn ( £45.5bn ) of assets to Germany , as the banking giant becomes the latest City stalwart to beef up EU operations ahead of Brexit .
The Wall Street bank , which has previously warned that a “ difficult ” Brexit would impact its investment plans in the UK , will shift between $ 40bn to $ 60bn to its Frankfurt division , Bloomberg first reported .
Read more : Boris Johnson says UK ‘ well prepared ’ for no-deal Brexit Goldman Sachs Bank Europe SE , the company @ @ @ @ @ @ @ €3.4bn ( £3.1bn ) at the end of last year , according to its annual report .
With fewer than two months to go before the Brexit transition period deadline , City giants are looking to boost their presence on the continent to ensure smooth operations in the new year .
The City will automatically be stripped of its EU passporting rights , which give full access to EU markets , when Britain formally leaves the bloc on 1 January , regardless of whether Boris Johnson strikes a trade deal with Brussels .
@ @ @ @ @ @ @ it would shift around €200bn of assets to Germany ahead of the Brexit deadline .
The asset shift will make JP Morgan Germany ’ s sixth largest lender , based on reported assets of the country ’ s largest banks last year .
The bank has also told its 200 London-based staff to move to Europe ahead of the transition period deadline next year .
Last month , the governor of the Bank of France said firms have begun shifting around €150bn of UK assets into France .
Francois Villeroy de Galhau told @ @ @ @ @ @ @ Bank of France has authorised asset shifts by 32 companies — mostly investment firms — to “ ensure continuity of activities in France ” .
It comes after Brussels last month said it will refuse the City access to the single market from next year unless the UK sets out plans to diverge from the EU ’ s financial rules .
Mairead McGuinness , Irish MEP and incoming EU financial services commissioner , said Brussels would be reluctant to grant the UK an equivalence deal “ unless and until we get clear answers @ @ @ @ @ @ @ to deregulate ” .
Financial services remain a key sticking point in Brexit trade deal talks , as EU chief negotiator Michel Barnier and UK envoy David Frost continue crunch talks in Brussels .
Rival EU cities such as Paris and Frankfurt have ramped up efforts to attract bankers from the City as Brexit negotiations stretch into the eleventh hour .
Senior government officials have said the UK is “ confident ” it will receive an equivalence deal from the EU , which would allow Britain ’ s financial services to continue as @ @ @ @ @ @ @ : Watchdog slams Number 10 for failing to prepare Brexit borders However , the threats from Brussels appear to have spooked companies in the City into considering alternative options .
At least 24 financial services firms have rolled out plans to make more than £1.2 trillion of asset transfers to the continent since the Brexit referendum , according to EY .

Goldman Sachs to shift $60bn of assets to Germany ahead of Brexit
Goldman Sachs is set to shift as much as $60bn (£45.5bn) of assets to Germany, as the banking giant becomes the latest City stalwart to beef up EU operations ahead of Brexit.
The Wall Street bank, which has previously warned that a “difficult” Brexit would impact its investment plans in the UK, will shift between $40bn to $60bn to its Frankfurt division, Bloomberg first reported.
Goldman Sachs Bank Europe SE, the company’s Frankfurt-based subsidiary, had just €3.4bn (£3.1bn) at the end of last year, according to its annual report.
With fewer than two months to go before the Brexit transition period deadline, City giants are looking to boost their presence on the continent to ensure smooth operations in the new year.
The City will automatically be stripped of its EU passporting rights, which give full access to EU markets, when Britain formally leaves the bloc on 1 January, regardless of whether Boris Johnson strikes a trade deal with Brussels.
In September, JP Morgan Chase announced it would shift around €200bn of assets to Germany ahead of the Brexit deadline.
The asset shift will make JP Morgan Germany’s sixth largest lender, based on reported assets of the country’s largest banks last year.
The bank has also told its 200 London-based staff to move to Europe ahead of the transition period deadline next year.
Last month, the governor of the Bank of France said firms have begun shifting around €150bn of UK assets into France.
Francois Villeroy de Galhau told the Europlace International Financial Forum that the Bank of France has authorised asset shifts by 32 companies — mostly investment firms — to “ensure continuity of activities in France”.
It comes after Brussels last month said it will refuse the City access to the single market from next year unless the UK sets out plans to diverge from the EU’s financial rules.
Mairead McGuinness, Irish MEP and incoming EU financial services commissioner, said Brussels would be reluctant to grant the UK an equivalence deal “unless and until we get clear answers from the United Kingdom about their intentions to deregulate”.
Financial services remain a key sticking point in Brexit trade deal talks, as EU chief negotiator Michel Barnier and UK envoy David Frost continue crunch talks in Brussels.
Rival EU cities such as Paris and Frankfurt have ramped up efforts to attract bankers from the City as Brexit negotiations stretch into the eleventh hour.
Senior government officials have said the UK is “confident” it will receive an equivalence deal from the EU, which would allow Britain’s financial services to continue as usual into next year.
However, the threats from Brussels appear to have spooked companies in the City into considering alternative options.
At least 24 financial services firms have rolled out plans to make more than £1.2 trillion of asset transfers to the continent since the Brexit referendum, according to EY.


cityam--2020-11-07--Prime Minister launches investigation after furlough extension leaked

Boris Johnson has launched a second leak inquiry in less than a week , after details of the chancellor ’ s extension of the furlough scheme appeared in newspapers before their announcement in the Commons .
Rishi Sunak on Thursday extended the furlough scheme until March for businesses unable to operate during lockdown , while the BoE announced it would buy £150bn of government bonds to boost spending .
Details of both events appeared in news outlets on Thursday morning , before MPs were briefed .
Read more : Chancellor ’ s furlough extension ‘ the right call ’ , @ @ @ @ @ @ @ how news of the extension , and of quantitative easing by the Bank of England , popped up in news sites including the BBC and the Telegraph prior to their official launch .
The second inquiry follows an investigation launched by the PM after news of England ’ s second national lockdown appeared in the Sun and the Times before it was announced , forcing Johnson to bring forward his press conference by two days .
Plans are thought to have been leaked from a secret ministerial meeting involving Sunak , Michael Gove @ @ @ @ @ @ @ is understood to have been furious about having to rush forward lockdown plans , despite many details still being finalised .
Gove , the Cabinet Office minister , denied involvement or knowledge of the source of the leak .
An inquiry into the matter by the Cabinet Office has yet to identify a culprit .
Speaker of the House Sir Lindsay Hoyle condemned the practice of leaking information to newspapers , and amped up pressure for Johnson to crack down on close ties between the lobby and MPs .
“ I hope that @ @ @ @ @ @ @ member of this House , that member will make a full apology to the House for the discourteous and unacceptable behaviour , ” he told the Telegraph .
Number 10 did not respond to requests for comment .

Prime Minister launches investigation after furlough extension leaked
Boris Johnson has launched a second leak inquiry in less than a week, after details of the chancellor’s extension of the furlough scheme appeared in newspapers before their announcement in the Commons.
Rishi Sunak on Thursday extended the furlough scheme until March for businesses unable to operate during lockdown, while the BoE announced it would buy £150bn of government bonds to boost spending.
Details of both events appeared in news outlets on Thursday morning, before MPs were briefed.
Number 10 is investigating how news of the extension, and of quantitative easing by the Bank of England, popped up in news sites including the BBC and the Telegraph prior to their official launch.
The second inquiry follows an investigation launched by the PM after news of England’s second national lockdown appeared in the Sun and the Times before it was announced, forcing Johnson to bring forward his press conference by two days.
Plans are thought to have been leaked from a secret ministerial meeting involving Sunak, Michael Gove and Matt Hancock last Friday.
Johnson is understood to have been furious about having to rush forward lockdown plans, despite many details still being finalised.
Gove, the Cabinet Office minister, denied involvement or knowledge of the source of the leak.
An inquiry into the matter by the Cabinet Office has yet to identify a culprit.
Speaker of the House Sir Lindsay Hoyle condemned the practice of leaking information to newspapers, and amped up pressure for Johnson to crack down on close ties between the lobby and MPs.
“I hope that if the leaker is identified and a member of this House, that member will make a full apology to the House for the discourteous and unacceptable behaviour,” he told the Telegraph.
Number 10 did not respond to requests for comment.