cityam--2020-08-09--London calling: Why it's time to bring life back to our city's streets

Despite a tentative easing of the national lockdown , the lingering economic and social consequences of this policy are frighteningly obvious to anyone venturing into central London .
While social life and economic activity has , to a large extent , returned to the outer zones and suburbs , the offices and shops of London ’ s professional districts remain eerily and worryingly quiet .
Newly pedestrianised streets may be tempting some customers back to the pubs , cafes and restaurants of Zone One .
But welcome as this is , it amounts to a mere trickle in place of @ @ @ @ @ @ @ people coming in and out the City , the West End , Canary Wharf , King ’ s Cross and the capital ’ s other commercial and business districts .
Read more : Here ’ s when City firms are going back to the office The situation in the UK is stark when compared with other European countries .
According to new research by JP Morgan , just 30 per cent of UK workers are doing five days a week at their place of work .
In Italy it ’ s 40 per @ @ @ @ @ @ @ 41 per cent ; 49 per cent of Germans are doing a full working week in the office ; and 50 per cent of French workers have returned full time .
The UK also has the lowest number of people choosing to do between one and four days in the office .
The government has formally dropped its ‘ work from home ’ advice but more than a week after that guidance changed the housing secretary , Robert Jenrick , was asked about the ghost towns and empty business districts .
He acknowledged @ @ @ @ @ @ @ “ we need to get back into them.
” Read more : London hospitality firms call for free face masks at Tube stations If the government really wanted to hammer this message home , it could do so .
Instead , it appears to be gripped by fears of a second wave and is more than happy to let businesses ride out the rest of the year with staff working remotely .
On top of a looming unemployment crisis , this approach will have dire consequences for jobs and livelihoods in city centres @ @ @ @ @ @ @ offices .
The absence of the human tide risks leaving a parched landscape devoid of the countless personal and professional interactions that give life to a city and purpose to its people .
London faces an economic emergency outside the office While more flexible working and , of course , a necessary appreciation of public health concerns , will change the way we think about work in the months and years ahead , an economic emergency is unfolding on streets that used to serve millions of commuters and residents .
The Centre for @ @ @ @ @ @ @ £2.3bn of spending in shops , pubs and restaurants around the capital ’ s main business districts was lost or displaced between March and June .
The think-tank also predicts that throughout next year 30 per cent of London-based employees will still be working from home on any given day , resulting in nearly £180m of lost spending on lunch , socialising and other office-related services each month .
There ’ s little point denying that once the pandemic has passed people will almost certainly work from home more than they used to @ @ @ @ @ @ @ new approach that allows staff more freedom and flexibility , especially not if recent months have proven just how much work can be achieved away from the office .
But this is different to the sudden and forced starvation that our business districts are enduring .
In too many places , life has simply disappeared .
It ’ s encouraging , therefore , that Barclays chief executive Jes Staley and PwC ’ s Kevin Ellis have both publicly recognised that they have a responsibility to the places where their staff work .
It @ @ @ @ @ @ @ step up New research by the Legatum Institute shows that while just 16 per cent of people working in financial services have been negatively impacted by the pandemic and lockdown , the figure for hospitality workers is over 80 per cent .
The former must be able to do their bit to help the latter .
Read more : UK workers slowest in Europe to return to the office Employers will rightly feel that their first responsibility is to their staff .
But there must be a recognition that sustaining and supporting the @ @ @ @ @ @ @ , pubs and service providers that draw a living from the presence of people is a matter of real importance .
City A.M. believes it is now absolutely essential that businesses do all they can to start bringing staff back into their places of work , safely .
The view is shared by London mayor Sadiq Khan , who says “ getting businesses and venues thriving in central London once again should now be an urgent priority ” .
The mayor adds that “ if more people aren ’ t confident the virus @ @ @ @ @ @ @ of shops , bars , cafes and cultural venues is at risk of a damaging slump that could take years to recover from.
” Our position is also supported by the Lord mayor of the City of London , the Right Honourable William Russell , who says “ we support the aim of encouraging Londoners to return to work safely in the City ” , adding “ we want to get the Square Mile back on its feet as quickly as possible in a safe and sustainable manner , in line with government @ @ @ @ @ @ @ groups also join our call for employers to do all they can to bring about a safe return to offices .
Richard Burge of the London Chamber of Commerce and Industry says : “ The time has come to focus on and talk about what we can do rather than what we can not .
” He adds that employers must put in place new office routines and work patterns that give staff “ even greater access to the extraordinarily diverse retail , hospitality , and cultural offerings of London.
” Such a @ @ @ @ @ @ @ but the right processes and risk-management strategies should allow larger employers in particular to begin the task of bringing people back together .
Many employers are already preparing for innovative shift patterns , flexible work , new office layouts and safe working practices .
At the very least , companies should be actively preparing for such a transition , to be deployed when they feel the time is right .
We applaud those firms doing just that .
Sadiq Khan is also hopeful that more and more people will come back to central @ @ @ @ @ @ @ saying : “ I hope to see more employees returning to the capital from September .
A huge amount of work is being done by businesses to make their offices safe , whether around office layouts , one-way systems , or enhanced cleaning and hygiene.
” More than 120,000 people work in Canary Wharf .
At least , they used to .
The chief executive of the Canary Wharf Group , Shobi Khan , is confident that now is the time to bring people back .
“ We ’ ve planned carefully to @ @ @ @ @ @ @ , clean and socially distanced environment , in line with government guidelines , to accommodate large numbers of people as they return to the office , ” he tells me .
“ Everything is in place , and we are very much open for business – for office life to resume , and for companies to bring their people together to interact and rebuild that essential social capital ; for the network of businesses that support them to flourish once more ; and for the safe return to the spaces in which we @ @ @ @ @ @ @ and socialise , and on which the life of our city is built.
” For Shobi Khan , there is more to this than a question of productivity or retail footfall .
“ A company is as strong as its people , and for companies to thrive and grow they need their people to interact , collaborate , be creative , spark ideas and learn from each other through personal interaction , ” he explains .
“ Companies can survive when their employees are working at home , but that is largely because @ @ @ @ @ @ @ they have accrued over years .
Five months into the pandemic , that capital is being rapidly depleted .
How will they nurture their employees and grow their businesses ?
It ’ s very hard to do that via conference calls alone.
” Another major employer who refuses to accept that the days of the office are numbered is Legal and General , whose chief executive Nigel Wilson says that while home-working will remain the norm for most people in his company until the end of this year , “ the death of @ @ @ @ @ @ @ .
Read more : Reopened restaurants in London : The latest news about your favourite places to eat He says that over the past few weeks they ’ ve been trying hard to make their London offices available to staff who want to come in , even occasionally , because he believes in “ recognising the benefits to collaboration and mental wellbeing.
” He also echoes Barclays and PwC when he says he “ recognise [ s ] that where our people are working impacts those local economies ; we want to support @ @ @ @ @ @ @ of the wellbeing of our people.
” Paul Dreschler of London First said that he expects to see a “ a step up in the return to London ’ s workplaces ” in September .
Such a move would “ be a shot in the arm for the many businesses which rely on commuters and workers ’ spending and will provide a boost for the UK economy which relies on the capital to provide around a quarter of the nation ’ s growth ” , he adds .
Dreschler also highlights a concern @ @ @ @ @ @ @ reluctance to use public transport , and he calls on operators “ to boost confidence in the transport system ” .
Tube and buses now cleaner than ever Public health authorities in Paris , Tokyo and Austria have failed to detect any link between their public transport networks , including subways , and any of the recently identified spikes in infection rates .
A report in the New York Times suggested mitigation efforts on public transport have been key to reducing transmission , with public health experts identifying mandatory masks , regular use @ @ @ @ @ @ @ being particularly effective .
Transport for London ( TfL ) is utilising all three of these tools , and its commissioner , Andy Byford , insists that customers returning to the Tube and buses “ are seeing a cleaner , more orderly network than ever ” .
Read more : Coronavirus : How safe is the post-lockdown commute to work ?
He says the deployment of hospital-grade disinfectant and more than 1,000 hand sanitiser stations has “ resulted in independent research returning negative tests for coronavirus on high-frequency touch points ” .
Faced @ @ @ @ @ @ @ to their London offices from September , Byford says his message to everyone is that they ’ re doing everything to keep things clean and safe .
“ We are here to help and to keep London moving , ” he says .
Out of office : The economic cost for London grows by the day While it ’ s clear that there are obstacles to overcome , not least a clear commitment from the government on a full return to school in September , the economic and social cost of cutting ourselves @ @ @ @ @ @ @ growing by the day .
Read more : For young Londoners , working from home is a cramped and dismal experience The longer we stay away from offices , the deeper the damage to London .
Everyone should be mindful of the risk posed by a resurgence of infections , but we must also hope for the best and be ready to facilitate the vital economic and personal connectivity of which we have been so starved since the end of March .
Canary Wharf ’ s Shobi Khan is adamant that “ there @ @ @ @ @ @ @ life of a major world city like London than simply what goes on inside an office ” .
He says : “ It ’ s everything that surrounds the office too – the coffee and sandwich shops ; the health clubs and dry cleaners ; the fashion and food stores , the bars and restaurants where you meet after work.
” “ These are the places that people rely on and bring them together , which provide the social and cultural foundation of a city , and make London the vibrant capital that @ @ @ @ @ @ @ he adds .
All of us have had to adapt to the circumstances this pandemic has created , but we must now focus on how to restore and nurture what was here before it .

London calling: Why it’s time to bring life back to our city’s streets
London’s office stand mostly empty during lockdown, but employers must make it safe for staff to return for the sake of our capital’s future
Despite a tentative easing of the national lockdown, the lingering economic and social consequences of this policy are frighteningly obvious to anyone venturing into central London.
While social life and economic activity has, to a large extent, returned to the outer zones and suburbs, the offices and shops of London’s professional districts remain eerily and worryingly quiet.
Newly pedestrianised streets may be tempting some customers back to the pubs, cafes and restaurants of Zone One. But welcome as this is, it amounts to a mere trickle in place of what was previously a mighty tide of people coming in and out the City, the West End, Canary Wharf, King’s Cross and the capital’s other commercial and business districts.
The situation in the UK is stark when compared with other European countries. According to new research by Morgan Stanley, just 30 per cent of UK workers are doing five days a week at their place of work.
In Italy it’s 40 per cent; in Spain it’s 41 per cent; 49 per cent of Germans are doing a full working week in the office; and 50 per cent of French workers have returned full time. The UK also has the lowest number of people choosing to do between one and four days in the office.
The government has formally dropped its ‘work from home’ advice but more than a week after that guidance changed the housing secretary, Robert Jenrick, was asked about the ghost towns and empty business districts. He acknowledged the scale of the problem and said “we need to get back into them.”
If the government really wanted to hammer this message home, it could do so. Instead, it appears to be gripped by fears of a second wave and is more than happy to let businesses ride out the rest of the year with staff working remotely. On top of a looming unemployment crisis, this approach will have dire consequences for jobs and livelihoods in city centres like London and areas of high density offices.
The absence of the human tide risks leaving a parched landscape devoid of the countless personal and professional interactions that give life to a city and purpose to its people.
Getting businesses and venues thriving once again should be an urgent priority London Mayor Sadiq Khan
London faces an economic emergency outside the office
CEBR estimates that 30 per cent of London staff working from home in 2021 will result in nearly £180m of lost spending on lunch and other activities
While more flexible working and, of course, a necessary appreciation of public health concerns, will change the way we think about work in the months and years ahead, an economic emergency is unfolding on streets that used to serve millions of commuters and residents.
The Centre for Economic and Business Research calculates that around £2.3bn of spending in shops, pubs and restaurants around the capital’s main business districts was lost or displaced between March and June.
The think-tank also predicts that throughout next year 30 per cent of London-based employees will still be working from home on any given day, resulting in nearly £180m of lost spending on lunch, socialising and other office-related services each month.
There’s little point denying that once the pandemic has passed people will almost certainly work from home more than they used to.
And no business should fear a new approach that allows staff more freedom and flexibility, especially not if recent months have proven just how much work can be achieved away from the office. But this is different to the sudden and forced starvation that our business districts are enduring.
In too many places, life has simply disappeared.
It’s encouraging, therefore, that Barclays chief executive Jes Staley and PwC’s Kevin Ellis have both publicly recognised that they have a responsibility to the places where their staff work.
It’s time for City workers to step up
Pret A Manger is set to cut at least 1,000 jobs and close 30 stores as it suffers a lack of footfall from London office workers
New research by the Legatum Institute shows that while just 16 per cent of people working in financial services have been negatively impacted by the pandemic and lockdown, the figure for hospitality workers is over 80 per cent. The former must be able to do their bit to help the latter.
Employers will rightly feel that their first responsibility is to their staff. But there must be a recognition that sustaining and supporting the myriad small businesses, retailers, restaurants, pubs and service providers that draw a living from the presence of people is a matter of real importance.
City A.M. believes it is now absolutely essential that businesses do all they can to start bringing staff back into their places of work, safely.
The view is shared by London mayor Sadiq Khan, who says “getting businesses and venues thriving in central London once again should now be an urgent priority”.
The mayor adds that “if more people aren’t confident the virus is under control, our wonderful ecosystem of shops, bars, cafes and cultural venues is at risk of a damaging slump that could take years to recover from.”
Our position is also supported by the Lord mayor of the City of London, the Right Honourable William Russell, who says “we support the aim of encouraging Londoners to return to work safely in the City”, adding “we want to get the Square Mile back on its feet as quickly as possible in a safe and sustainable manner, in line with government guidance.”
London mayor Sadiq Khan tells City A.M. that without a return to offices, London’s vibrant shops and cafes face “a damaging slump that could take years to recover from”
London’s leading business groups also join our call for employers to do all they can to bring about a safe return to offices. Richard Burge of the London Chamber of Commerce and Industry says: “The time has come to focus on and talk about what we can do rather than what we cannot.”
He adds that employers must put in place new office routines and work patterns that give staff “even greater access to the extraordinarily diverse retail, hospitality, and cultural offerings of London.”
Some London employers eye a September return to offices
Such a shift cannot be implemented overnight, but the right processes and risk-management strategies should allow larger employers in particular to begin the task of bringing people back together.
Many employers are already preparing for innovative shift patterns, flexible work, new office layouts and safe working practices. At the very least, companies should be actively preparing for such a transition, to be deployed when they feel the time is right. We applaud those firms doing just that.
Sadiq Khan is also hopeful that more and more people will come back to central London offices after an August break, saying: “I hope to see more employees returning to the capital from September. A huge amount of work is being done by businesses to make their offices safe, whether around office layouts, one-way systems, or enhanced cleaning and hygiene.”
Canary Wharf ‘open for business’
Canary Wharf normally hosts 120,000 workers, but this number has dwindled to a few thousand amid coronavirus
More than 120,000 people work in Canary Wharf. At least, they used to.
The chief executive of the Canary Wharf Group, Shobi Khan, is confident that now is the time to bring people back.
“We’ve planned carefully to ensure that Canary Wharf is a safe, clean and socially distanced environment, in line with government guidelines, to accommodate large numbers of people as they return to the office,” he tells me.
“Everything is in place, and we are very much open for business – for office life to resume, and for companies to bring their people together to interact and rebuild that essential social capital; for the network of businesses that support them to flourish once more; and for the safe return to the spaces in which we work, eat, shop, exercise and socialise, and on which the life of our city is built.”
For Shobi Khan, there is more to this than a question of productivity or retail footfall.
We’ll ensure Canary Wharf is safe, clean and socially distanced CEO of Canary Wharf Group, Shobi Khan
“A company is as strong as its people, and for companies to thrive and grow they need their people to interact, collaborate, be creative, spark ideas and learn from each other through personal interaction,” he explains.
“Companies can survive when their employees are working at home, but that is largely because they are living off the social capital they have accrued over years. Five months into the pandemic, that capital is being rapidly depleted. How will they nurture their employees and grow their businesses? It’s very hard to do that via conference calls alone.”
L&G: Offices can boost Londoners’ mental health
Long meetings have been replaced by cluttered Zoom calls during workers’ hiatus from their London offices
Another major employer who refuses to accept that the days of the office are numbered is Legal and General, whose chief executive Nigel Wilson says that while home-working will remain the norm for most people in his company until the end of this year, “the death of the office has been greatly exaggerated”.
He says that over the past few weeks they’ve been trying hard to make their London offices available to staff who want to come in, even occasionally, because he believes in “recognising the benefits to collaboration and mental wellbeing.”
He also echoes Barclays and PwC when he says he “recognise[s] that where our people are working impacts those local economies; we want to support these communities as well as taking care of the wellbeing of our people.”
The death of the office is greatly exaggerated Legal & General CEO Nigel Wilson
Paul Dreschler of London First said that he expects to see a “a step up in the return to London’s workplaces” in September. Such a move would “be a shot in the arm for the many businesses which rely on commuters and workers’ spending and will provide a boost for the UK economy which relies on the capital to provide around a quarter of the nation’s growth”, he adds.
Dreschler also highlights a concern, often cited, about an apparent reluctance to use public transport, and he calls on operators “to boost confidence in the transport system”.
Tube and buses now cleaner than ever
London buses are up and running to bring people to the city’s reopened shops as the government continues to ease its lockdown
Public health authorities in Paris, Tokyo and Austria have failed to detect any link between their public transport networks, including subways, and any of the recently identified spikes in infection rates.
A report in the New York Times suggested mitigation efforts on public transport have been key to reducing transmission, with public health experts identifying mandatory masks, regular use of disinfectant and staggered commuter times as being particularly effective.
Transport for London (TfL) is utilising all three of these tools, and its commissioner, Andy Byford, insists that customers returning to the Tube and buses “are seeing a cleaner, more orderly network than ever”.
He says the deployment of hospital-grade disinfectant and more than 1,000 hand sanitiser stations has “resulted in independent research returning negative tests for coronavirus on high-frequency touch points”.
Faced with the prospect of more commuters returning to their London offices from September, Byford says his message to everyone is that they’re doing everything to keep things clean and safe. “We are here to help and to keep London moving,” he says.
TfL has deployed more than 1,000 hand sanitiser stations around London’s Tube network as they prepare for people to return to work and socialise in the city
Out of office: The economic cost for London grows by the day
While it’s clear that there are obstacles to overcome, not least a clear commitment from the government on a full return to school in September, the economic and social cost of cutting ourselves off from our places of work is growing by the day.
The longer we stay away from offices, the deeper the damage to London. Everyone should be mindful of the risk posed by a resurgence of infections, but we must also hope for the best and be ready to facilitate the vital economic and personal connectivity of which we have been so starved since the end of March.
There’s much more to the commercial life of a city than offices CEO of Canary Wharf Group, Shobi Khan
Canary Wharf’s Shobi Khan is adamant that “there’s much more to the commercial life of a major world city like London than simply what goes on inside an office”. He says: “It’s everything that surrounds the office too – the coffee and sandwich shops; the health clubs and dry cleaners; the fashion and food stores, the bars and restaurants where you meet after work.”
“These are the places that people rely on and bring them together, which provide the social and cultural foundation of a city, and make London the vibrant capital that it needs to be again,” he adds.
All of us have had to adapt to the circumstances this pandemic has created, but we must now focus on how to restore and nurture what was here before it.
An earlier version of this story cited JP Morgan as the source for European office data, an error which has since been corrected.


cityam--2020-08-09--Pret A Manger to cut staff hours in coronavirus restructuring

Pret A Manger has asked thousands of its staff to work fewer hours , as the lunch chain restructures its business after the coronavirus pandemic .
Staff will work 20 per cent fewer hours on average , as footfall remains low .
It follows an announcement by Pret last month that it would be closing 30 outlets and cutting about 1,000 jobs across its business .
Read more : Pret A Manger to close 30 stores after lockdown , putting 1,000 jobs at risk “ Our biggest priority is to do everything we can to save jobs , ” a @ @ @ @ @ @ @ in our shops still significantly below normal levels , we have had to review the hours team members are contracted to work each week – although of course we hope to increase these hours as trade improves .
“ By making these changes we are able to save a large number of roles.
” Pret said 339 of its 410 UK shops have so far reopened with reduced opening hours , after the government began easing lockdown restrictions across the country .
Read more : Slow retail recovery expected as consumers reluctant to @ @ @ @ @ @ @ 13,000 staff globally , including 8,000 people in the UK .
Trade across the country is understood to be down by 65 per cent since lockdown rules came into force in late March .
In the City of London , one of Pret ’ s top regions , business has fallen by 80 per cent .

Pret A Manger to cut staff hours in coronavirus restructuring
Pret A Manger has asked thousands of its staff to work fewer hours, as the lunch chain restructures its business after the coronavirus pandemic.
Staff will work 20 per cent fewer hours on average, as footfall remains low.
It follows an announcement by Pret last month that it would be closing 30 outlets and cutting about 1,000 jobs across its business.
“Our biggest priority is to do everything we can to save jobs,” a Pret spokeswoman said.
“With footfall in our shops still significantly below normal levels, we have had to review the hours team members are contracted to work each week – although of course we hope to increase these hours as trade improves.
“By making these changes we are able to save a large number of roles.”
Pret said 339 of its 410 UK shops have so far reopened with reduced opening hours, after the government began easing lockdown restrictions across the country.
The firm runs 550 outlets with 13,000 staff globally, including 8,000 people in the UK.
Trade across the country is understood to be down by 65 per cent since lockdown rules came into force in late March.
In the City of London, one of Pret’s top regions, business has fallen by 80 per cent.


cityam--2020-08-09--Daily UK coronavirus cases jump to highest since June

The number of coronavirus cases reported in the UK today rose to its highest since June , surpassing 1,000 daily cases for the first time in almost two months .
The UK recorded 1,062 new positive tests for coronavirus , the highest daily case rise since late June , as local lockdowns in some areas rise .
The rate was 304 cases higher than the 758 new coronavirus cases reported yesterday .
Read more : Coronavirus : R number rises in London but remains below 1 for England It comes as the R rate may have risen above 1 for @ @ @ @ @ @ @ emerged on Friday .
The latest government update indicated that the R number in London is between 0.8 and 1.1 — the same as the north-west and south-west of England , which retained the same R number as last week .
The R rate for England has stayed the same , however , at 0.8 to 1.0 , while the UK as a whole has risen from 0.8 to 0.9 to move in line with England .
Read more : England coronavirus cases level off in past week Separate data from the Office @ @ @ @ @ @ @ there were 28,300 coronavirus cases in the community in the week ending 2 August , equating to 0.05 per cent of the population .
It was down by around 7,400 people from the week before , although still more than the UK ’ s lowest levels seen at the end of June .
Around 3,700 new coronavirus cases were recorded each day in the most recent week across private households in England .

Daily UK coronavirus cases jump to highest since June
The number of coronavirus cases reported in the UK today rose to its highest since June, surpassing 1,000 daily cases for the first time in almost two months.
The UK recorded 1,062 new positive tests for coronavirus, the highest daily case rise since late June, as local lockdowns in some areas rise.
The rate was 304 cases higher than the 758 new coronavirus cases reported yesterday.
It comes as the R rate may have risen above 1 for the first time in London, it emerged on Friday.
The latest government update indicated that the R number in London is between 0.8 and 1.1 — the same as the north-west and south-west of England, which retained the same R number as last week.
The R rate for England has stayed the same, however, at 0.8 to 1.0, while the UK as a whole has risen from 0.8 to 0.9 to move in line with England.
Separate data from the Office for National Statistics (ONS) said there were 28,300 coronavirus cases in the community in the week ending 2 August, equating to 0.05 per cent of the population.
It was down by around 7,400 people from the week before, although still more than the UK’s lowest levels seen at the end of June.
Around 3,700 new coronavirus cases were recorded each day in the most recent week across private households in England.


cityam--2020-08-09--BBC boss apologises over broadcast of racial slur

BBC director general Lord Tony Hall has apologised and said the broadcaster made a mistake , after a news report containing a racial slur was shown last month .
The N-word was used in full in a report by social affairs correspondent Fiona Lamdin about a racially aggravated attack in Bristol , aired by Points West and the BBC News Channel on 29 July .
The BBC initially defended the use of the slur after more than 18,600 complaints were made .
Read more : BBC hires 800 agents to quell pensioner revolt over licence fee Lord Hall said the @ @ @ @ @ @ @ taken a different approach at the time of broadcast ” , adding that it would be “ strengthening our guidance on offensive language ” .
Yesterday BBC 1Xtra radio presenter Sideman resigned over the use of the term , saying it felt like “ a slap in the face to our community ” .
In a statement aired by the broadcaster , Lord Hall said : “ We are proud of the BBC ’ s values of inclusion and respect , and have reflected long and hard on what people have had to @ @ @ @ @ @ @ and all racist language both inside and outside the organisation.
” Read more : BBC reaches record global audience in 2020 despite cash crunch “ It should be clear that the BBC ’ s intention was to highlight an alleged racist attack .
This is important journalism which the BBC should be reporting on and we will continue to do so .
“ Yet despite these good intentions , I recognise that we have ended up creating distress amongst many people.
” The broadcaster is in the middle of a major restructuring , @ @ @ @ @ @ @ London and Salford bases .

BBC boss apologises over broadcast of racial slur
BBC director general Lord Tony Hall has apologised and said the broadcaster made a mistake, after a news report containing a racial slur was shown last month.
The N-word was used in full in a report by social affairs correspondent Fiona Lamdin about a racially aggravated attack in Bristol, aired by Points West and the BBC News Channel on 29 July.
The BBC initially defended the use of the slur after more than 18,600 complaints were made.
Lord Hall said the corporation “accepts that we should have taken a different approach at the time of broadcast”, adding that it would be “strengthening our guidance on offensive language”.
Yesterday BBC 1Xtra radio presenter Sideman resigned over the use of the term, saying it felt like “a slap in the face to our community”.
In a statement aired by the broadcaster, Lord Hall said: “We are proud of the BBC’s values of inclusion and respect, and have reflected long and hard on what people have had to say about the use of the N-word and all racist language both inside and outside the organisation.”
“It should be clear that the BBC’s intention was to highlight an alleged racist attack. This is important journalism which the BBC should be reporting on and we will continue to do so.
“Yet despite these good intentions, I recognise that we have ended up creating distress amongst many people.”
The broadcaster is in the middle of a major restructuring, cutting more than 700 jobs across its London and Salford bases.


cityam--2020-08-09--Trump signs coronavirus relief orders after Congress talks break down

US President Donald Trump signed executive orders over the weekend that partially restored increased unemployment benefits for those who lost their jobs during the pandemic .
The US has now surpassed more than 5m cases and 160,000 deaths from Covid-19 .
Unemployment figures improved slightly in July , but failed to match the growth rates of May and June .
Trump said the orders would provide an extra $ 400 per week in unemployment payments , less than the $ 600 per week passed earlier in the crisis .
Some of the measures are likely to face legal challenges , @ @ @ @ @ @ @ Congress authority over federal spending .
Read more : US economy adds 1.8m jobs but expansion slows sharply “ This is the money they need , this is the money they want , this gives them an incentive to go back to work , ” the Republican president said of the lower payments .
He said 25 per cent of the costs would be paid by states , whose budgets have been hard hit by the crisis .
Democratic rival Joe Biden said they were “ a series of half-baked measures ” , @ @ @ @ @ @ @ at grave risk ” by delaying the collection of payroll taxes that pay for the programme .
Talks between White House officials and Congress broke down on Friday after two weeks of negotiations .
Trump ’ s move to take relief measures out of the hands of Congress drew immediate criticism from some Democrats .
“ Donald Trump is trying to distract from his failure to extend the $ 600 federal boost for 30m unemployed workers by issuing illegal executive orders , ” said senator Ron Wyden , the top Democrat on the @ @ @ @ @ @ @ is a classic Donald Trump con : playacting at leadership while robbing people of the support they desperately need.
” The Democratic-majority House of Representatives passed a coronavirus support package in May which the Republican-led Senate ignored .
Read more : US economy shrinks by record 33 per cent amid coronavirus pandemic Trump ’ s suspension of collection of payroll taxes is an idea that he has repeatedly raised but has been rejected by both parties in Congress .
Trump said the suspension would apply to people making less than $ 100,000 per @ @ @ @ @ @ @ Trump aims to detract from scrutiny of his handling of the coronavirus pandemic , as he and Biden prepare for the presidential election in November .

Trump signs coronavirus relief orders after Congress talks break down
Trump signed the executive orders after his Republican party and opposition Democrats failed to reach agreement on a new stimulus package
US President Donald Trump signed executive orders over the weekend that partially restored increased unemployment benefits for those who lost their jobs during the pandemic.
The US has now surpassed more than 5m cases and 160,000 deaths from Covid-19. Unemployment figures improved slightly in July, but failed to match the growth rates of May and June.
Trump said the orders would provide an extra $400 per week in unemployment payments, less than the $600 per week passed earlier in the crisis.
Some of the measures are likely to face legal challenges, however, as the US Constitution gives Congress authority over federal spending.
“This is the money they need, this is the money they want, this gives them an incentive to go back to work,” the Republican president said of the lower payments.
He said 25 per cent of the costs would be paid by states, whose budgets have been hard hit by the crisis.
Democratic rival Joe Biden said they were “a series of half-baked measures”, accusing Trump of putting social security “at grave risk” by delaying the collection of payroll taxes that pay for the programme.
Talks between White House officials and Congress broke down on Friday after two weeks of negotiations.
Trump’s move to take relief measures out of the hands of Congress drew immediate criticism from some Democrats.
“Donald Trump is trying to distract from his failure to extend the $600 federal boost for 30m unemployed workers by issuing illegal executive orders,” said senator Ron Wyden, the top Democrat on the Senate Finance Committee.
“This scheme is a classic Donald Trump con: playacting at leadership while robbing people of the support they desperately need.”
The Democratic-majority House of Representatives passed a coronavirus support package in May which the Republican-led Senate ignored.
Trump’s suspension of collection of payroll taxes is an idea that he has repeatedly raised but has been rejected by both parties in Congress. Trump said the suspension would apply to people making less than $100,000 per year.
The executive orders come as Trump aims to detract from scrutiny of his handling of the coronavirus pandemic, as he and Biden prepare for the presidential election in November.


cityam--2020-08-09--Major shareholder lambasts AA takeover approach

The AA ’ s largest shareholder has criticised the firm ’ s approach as it enters into takeover talks , saying it had “ jeopardised ” its own leverage position by being downcast about its situation .
The roadside assistance firm said last week it has opened talks with two parties about a potential deal : Centerbridge Partners and TowerBrook Capital on one side , and Platinum and Warburg Pincus on the other .
Drew Dickson of Albert Bridge Capital , which owns a 12 per cent stake in the business , told the Sunday Telegraph he was “ surprised @ @ @ @ @ @ @ to the approaches .
He said the company had “ jeopardised negotiating leverage ” by stressing its “ dire circumstances ” during the takeover talks .
Dickson called a reported 40p per share price for the firm “ very opportunistic ” , and argued “ the stock is worth much more than where it trades to today ” .
Despite jumping more than 40 per cent on reports of a takeover deal , AA shares remain just under 33p .
At the end of the last financial year the group had approximately £2.65bn @ @ @ @ @ @ @ scheduled to fall due for repayment within the next two years , making debt reduction a “ key priority ” .
Dickson told the newspaper that he wondered whether “ the five-paragraph soliloquy about their purportedly dire circumstances… was intended to compel existing shareholders to acquiesce ” .
“ But we believe the AA is under no duress , is cash flow positive , and is wholly capable of refinancing its debt right now , ” he added .

Major shareholder lambasts AA takeover approach
The AA’s largest shareholder has criticised the firm’s approach as it enters into takeover talks, saying it had “jeopardised” its own leverage position by being downcast about its situation.
The roadside assistance firm said last week it has opened talks with two parties about a potential deal: Centerbridge Partners and TowerBrook Capital on one side, and Platinum and Warburg Pincus on the other.
Drew Dickson of Albert Bridge Capital, which owns a 12 per cent stake in the business, told the Sunday Telegraph he was “surprised” at the AA’s response to the approaches.
He said the company had “jeopardised negotiating leverage” by stressing its “dire circumstances” during the takeover talks.
Dickson called a reported 40p per share price for the firm “very opportunistic”, and argued “the stock is worth much more than where it trades to today”.
Despite jumping more than 40 per cent on reports of a takeover deal, AA shares remain just under 33p.
At the end of the last financial year the group had approximately £2.65bn of total net debt, with £913m scheduled to fall due for repayment within the next two years, making debt reduction a “key priority”.
Dickson told the newspaper that he wondered whether “the five-paragraph soliloquy about their purportedly dire circumstances… was intended to compel existing shareholders to acquiesce”.
“But we believe the AA is under no duress, is cash flow positive, and is wholly capable of refinancing its debt right now,” he added.
The AA declined to comment.


cityam--2020-08-10--Government urged to cover £5bn of retail and hospitality rents

Retail , hospitality and leisure firms have urged the government to pay up to £5bn to cover a proportion of rents for struggling businesses to avoid further high street job losses .
Trade bodies , including the British Property Federation ( BPF ) , British Retail Consortium ( BRC ) and UK Hospitality , have called on the government to launch a Property Bounceback Grant .
Read more : London commercial rents set to slump amid ‘ drastic ’ change to market The groups , which represent both tenants and landlords , said a £1.75bn grant for businesses that have @ @ @ @ @ @ @ save 375,000 jobs and provide a £7bn total return to the Treasury through tax revenue .
If the grant is extended to those firms that have already settled their rent bills , but may struggle to survive going forward , it would cost the government £4.7bn and save 636,000 jobs .
“ Without urgent action on rents , many otherwise viable businesses are , through no fault of their own , at imminent risk of failure , ” the trade bodies said in a joint statement .
The grant would see the government @ @ @ @ @ @ @ service charges between March and September , and would be conditional on the landlord and tenant to account for the remaining rent .
Businesses in the hospitality , leisure and retail sectors , which were forced to close for months during the UK coronavirus lockdown , would be eligible for the rent payouts .
Research by Remit Consulting showed that commercial landlords were owed £1.5bn of unpaid rent in the three months following the March quarter pay date .
“ Many retail , leisure and hospitality businesses across the UK have been closed @ @ @ @ @ @ @ said .
“ Even where they have reopened , footfall remains down significantly on pre-coronavirus levels .
Similarly , landlords have been walking a tightrope to support their customers and protect the pensions and savings of millions of people invested in commercial property across the country .
“ Many landlords and tenants are working collaboratively to agree new payment plans , but there remains a significant proportion of rent unpaid .
“ Many businesses will never be able to pay this debt and many landlords can not afford to sustain losses of this @ @ @ @ @ @ @ provide rent support , otherwise we will see more businesses closed , more jobs gone and more high streets devastated .
”

Government urged to pay £5bn of retailers’ rents after lockdown
Retail, hospitality and leisure firms have urged the government to pay up to £5bn to cover a proportion of rents for struggling businesses to avoid further high street job losses.
Trade bodies, including the British Property Federation (BPF), British Retail Consortium (BRC) and UK Hospitality, have called on the government to launch a Property Bounceback Grant.
The groups, which represent both tenants and landlords, said a £1.75bn grant for businesses that have been unable to reach an agreement would save 375,000 jobs and provide a £7bn total return to the Treasury through tax revenue.
If the grant is extended to those firms that have already settled their rent bills, but may struggle to survive going forward, it would cost the government £4.7bn and save 636,000 jobs.
“Without urgent action on rents, many otherwise viable businesses are, through no fault of their own, at imminent risk of failure,” the trade bodies said in a joint statement.
The grant would see the government cover 50 per cent of rent and service charges between March and September, and would be conditional on the landlord and tenant to account for the remaining rent.
Businesses in the hospitality, leisure and retail sectors, which were forced to close for months during the UK coronavirus lockdown, would be eligible for the rent payouts.
Research by Remit Consulting showed that commercial landlords were owed £1.5bn of unpaid rent in the three months following the March quarter pay date.
“Many retail, leisure and hospitality businesses across the UK have been closed for months,” the trade bodies said.
“Even where they have reopened, footfall remains down significantly on pre-coronavirus levels. Similarly, landlords have been walking a tightrope to support their customers and protect the pensions and savings of millions of people invested in commercial property across the country.
“Many landlords and tenants are working collaboratively to agree new payment plans, but there remains a significant proportion of rent unpaid.
“Many businesses will never be able to pay this debt and many landlords cannot afford to sustain losses of this scale. Government must step in and provide rent support, otherwise we will see more businesses closed, more jobs gone and more high streets devastated.”
A spokesperson for the government said it recognised the “huge challenges” being faced by tenants and landlords”.
“Which is why we’re working closely with them to ensure they are supported and would urge both landlords and tenants to follow the example of others and find solutions that work for both parties,” the spokesperson said.
“The government has taken unprecedented action to protect jobs and livelihoods, with a package of around £16bn of support, including loans, rates relief and grants for businesses to support them through the pandemic.”


cityam--2020-08-10--Equinor picks new chief executive as oil giant prepares for green pivot

Norwegian oil giant Equinor has today announced a new chief executive as it seeks to accelerate the transition to becoming a renewable energy focused business .
Company insider Anders Opedal , executive vice president for technology , projects and drilling , will replace Elder Saetre , a 40-year veteran of the company , in November .
Read more : BP looks to a low carbon future after coronavirus oil carnage The appointment comes at a time of rapid change in the oil and gas industry , with the spring ’ s oil price crash convincing several firms to accelerate their @ @ @ @ @ @ @ At the head of the pack is BP , which last week promised to cut its oil production by 40 per cent by 2030 and increase its spending on renewable projects tenfold .
Other European majors such as Shell , Eni , and Total have also made similar commitments to begin reducing carbon emissions in the future .
Opedal , who was reportedly one of four candidates for the top job , released a filmed statement saying that Equinor could be one of the “ leading companies ” in the transition .
Before @ @ @ @ @ @ @ with the City View podcast and key market data “ We will focus and improve our oil and gas portfolio and accelerate our development of renewable energy ” , he said .
In a statement , chairman Jon Erik Reinhardsen said : “ Equinor is entering a phase of significant change as the world needs to take more forceful action to combat climate change .
“ The board ’ s mandate is for Anders to accelerate our development as a broad energy company and to increase value creation for our shareholders through the @ @ @ @ @ @ @ in charge of Equinor , Saetre oversaw two periods of extreme price volatility : back in 2014-2015 , and in April and May this year .
In 2018 he changed Equinor ’ s name from Statoil , and was entrusted with moving the company towards a greener future .
Opedal said today that the company would seek to build new business within hydrogen , carbon capture and storage ( CCS ) as well as other low-carbon solutions .

Equinor picks new chief executive as oil giant prepares for green pivot
Norwegian oil giant Equinor has today announced a new chief executive as it seeks to accelerate the transition to becoming a renewable energy focused business.
Company insider Anders Opedal, executive vice president for technology, projects and drilling, will replace Elder Saetre, a 40-year veteran of the company, in November.
The appointment comes at a time of rapid change in the oil and gas industry, with the spring’s oil price crash convincing several firms to accelerate their switch to becoming low carbon businesses.
At the head of the pack is BP, which last week promised to cut its oil production by 40 per cent by 2030 and increase its spending on renewable projects tenfold.
Other European majors such as Shell, Eni, and Total have also made similar commitments to begin reducing carbon emissions in the future.
Opedal, who was reportedly one of four candidates for the top job, released a filmed statement saying that Equinor could be one of the “leading companies” in the transition.
Before the Open newsletter: Start your day with the City View podcast and key market data
“We will focus and improve our oil and gas portfolio and accelerate our development of renewable energy”, he said.
In a statement, chairman Jon Erik Reinhardsen said: “Equinor is entering a phase of significant change as the world needs to take more forceful action to combat climate change.
“The board’s mandate is for Anders to accelerate our development as a broad energy company and to increase value creation for our shareholders through the energy transition.”
In his six years in charge of Equinor, Saetre oversaw two periods of extreme price volatility: back in 2014-2015, and in April and May this year.
In 2018 he changed Equinor’s name from Statoil, and was entrusted with moving the company towards a greener future.
Opedal said today that the company would seek to build new business within hydrogen, carbon capture and storage (CCS) as well as other low-carbon solutions.


cityam--2020-08-10--Jeremy Corbyn trying to 'wreck' Sir Keir Starmer's Labour, says David Miliband

Former Labour foreign secretary David Miliband has accused Jeremy Corbyn of trying to “ wreck ” Sir Keir Starmer ’ s leadership as the party descends into a factional civil war .
Members of the far-left faction have been vocal over the past week in blaming party moderates for Labour ’ s 2017 election defeat , with Corbyn accusing officials of sabotaging the campaign .
Read more : Labour at risk of bankruptcy from antisemitism legal cases Labour lost the election , picking up 264 seats , but kept Theresa May ’ s Conservatives from winning a majority .
However @ @ @ @ @ @ @ that Corbyn was purposefully stoking conflict within the party and that it would lead to further election defeats .
“ This is a pure wrecking tactic from Jeremy Corbyn and the Corbynite ’ s denial after four successive defeats is a route to more defeats , ” he said .
“ We learned that after 1992 , we got out of denial and we won in ‘ 97 .
Actually , we won three elections on the trot .
Before the Open newsletter : Start your day with the City View podcast and @ @ @ @ @ @ @ to look at Labour in 2017 , we couldn ’ t beat the worst Tory campaign in history… and then when people got the full measure of Jeremy Corbyn in 2019 , he led us to the worst election defeat since the 1930s.
” The claims of sabotage first emerged after a leaked document earlier this year showed some party officials talking about their apparent desire for Labour to lose the election while Corbyn was leader .
Those who were named in the report claim that they were selectively quoted and some are @ @ @ @ @ @ @ be a breach of data security laws .
Many of the conversations in the report were over email and WhatsApp .
Read more : Labour apologises to BBC Panorama over antisemitism claims and hands out six-figure settlement Starmer has commissioned an investigation into the allegations , which will be led by Martin Forde QC .
The Guardian reported that Corbyn , and his allies , told the inquiry : “ It ’ s not impossible that Jeremy Corbyn might now be in his third year as a Labour prime minister were it not @ @ @ @ @ @ @ by a handful of senior party officials .
”

Jeremy Corbyn trying to ‘wreck’ Sir Keir Starmer’s Labour, says David Miliband
Former Labour foreign secretary David Miliband has accused Jeremy Corbyn of trying to “wreck” Sir Keir Starmer’s leadership as the party descends into a factional civil war.
Members of the far-left faction have been vocal over the past week in blaming party moderates for Labour’s 2017 election defeat, with Corbyn accusing officials of sabotaging the campaign.
Labour lost the election, picking up 264 seats, but kept Theresa May’s Conservatives from winning a majority.
However, Miliband has told Times Radio today that Corbyn was purposefully stoking conflict within the party and that it would lead to further election defeats.
“This is a pure wrecking tactic from Jeremy Corbyn and the Corbynite’s denial after four successive defeats is a route to more defeats,” he said.
“We learned that after 1992, we got out of denial and we won in ‘97. Actually, we won three elections on the trot.
Before the Open newsletter: Start your day with the City View podcast and key market data
“When people got to look at Labour in 2017, we couldn’t beat the worst Tory campaign in history… and then when people got the full measure of Jeremy Corbyn in 2019, he led us to the worst election defeat since the 1930s.”
The claims of sabotage first emerged after a leaked document earlier this year showed some party officials talking about their apparent desire for Labour to lose the election while Corbyn was leader.
Those who were named in the report claim that they were selectively quoted and some are considering legal action as the leak could be a breach of data security laws.
Many of the conversations in the report were over email and WhatsApp.
Starmer has commissioned an investigation into the allegations, which will be led by Martin Forde QC.
The Guardian reported that Corbyn, and his allies, told the inquiry: “It’s not impossible that Jeremy Corbyn might now be in his third year as a Labour prime minister were it not for the unauthorised, unilateral action taken by a handful of senior party officials.”


cityam--2020-08-10--Whatsapp set for multiple device syncing in new update

Whatsapp is reportedly developing a new update that will allow users to sync chats between multiple devices at once .
The Facebook-owned messaging app currently limits its service to one main device , meaning users can only be logged in on one device at a time and messages can not be synced .
Whatsapp Web also requires a phone to be turned on and connected to the internet .
Read more : Whatsapp launches fact check feature in bid to curb fake news But leaks suggest a new update will allow users to access Whatsapp on multiple devices at the @ @ @ @ @ @ @ chats across platforms .
The popular messaging service is also set to launch its long-rumoured iPad app alongside the software update , according to WABetaInfo .
The update is still under development and it is not yet confirmed whether syncing will be available between iOS and Android devices , according to the report .
Read more : Whatsapp and Telegram suspend user data review requests from Hong Kong authorities It comes amid reports that Facebook is looking to improve integration of chat services across its different chat services on Messenger , Instagram and @ @ @ @ @ @ @ than 2bn users worldwide , has rolled out a raft of new features to help tackle fake news during the coronavirus crisis , including a search feature and a limit on message forwarding .

Whatsapp update to allow users to sync chats between devices
Whatsapp is reportedly developing a new update that will allow users to sync chats between multiple devices at once.
The Facebook-owned messaging app currently limits its service to one main device, meaning users can only be logged in on one device at a time and messages cannot be synced. Whatsapp Web also requires a phone to be turned on and connected to the internet.
But leaks suggest a new update will allow users to access Whatsapp on multiple devices at the same time, as well as sync chats across platforms.
The popular messaging service is also set to launch its long-rumoured iPad app alongside the software update, according to WABetaInfo.
Yes, it's the ability to use your WhatsApp account from 4 devices at the same time.
Under development, but it's great!
📱📱📱📱 pic.twitter.com/JYvtMahrag — WABetaInfo (@WABetaInfo) June 12, 2020
The update is still under development and it is not yet confirmed whether syncing will be available between iOS and Android devices, according to the report.
It comes amid reports that Facebook is looking to improve integration of chat services across its different chat services on Messenger, Instagram and Whatsapp.
Whatsapp, which has more than 2bn users worldwide, has rolled out a raft of new features to help tackle fake news during the coronavirus crisis, including a search feature and a limit on message forwarding.


cityam--2020-08-10--L&G boss: We have to ‘break down’ the fear of using public transport to get workers back to the offi

L&G boss: We have to ‘break down’ the fear of using public transport to get workers back to the office

Legal & General chief executive Nigel Wilson said it is vital to “ break down ” the fear of using public transport to get workers back to the office .
Wilson told City A.M. ’ s The City View podcast that public confidence in the safety of cities and public transport networks needs to be restored to get workers back to the office .
Read more : The City View : Nigel Wilson on why it ’ s essential to get people back into offices “ There is a great fear of using the transportation system…we have got to break @ @ @ @ @ @ @ people will have to travel by train , ” he said .
Wilson said L & G ’ s offices have remained open throughout the pandemic but at dramatically reduced occupancy rates .
He said the business was slowly upping the numbers of people in its offices and trying to build staff confidence that it was safe to return to work .
“ We have a programme of gradually bringing people back into the office and that ’ s been very successful so far at all of our offices , ” he said @ @ @ @ @ @ @ of going back to the office… we try to get people used to this through baby steps .
Bringing them back in for a day , letting them travel in , see what that ’ s like , get some confidence working in the office again , get some confidence of working with their colleagues again and we are learning a lot through all of that process and so far it has been pretty successful , ” he added .
Read more : London calling : Why it ’ s time to bring @ @ @ @ @ @ @ streets “ People feel we are getting the balance about right now , our employee engagement scores are probably the highest they have ever been because the company sees we are taking proactive but very measured steps and recognising the issues and concerns of all of our people , ” Wilson said .

L&G boss: We must ‘break down’ the fear of using public transport
Legal & General chief executive Nigel Wilson said it is vital to “break down” the fear of using public transport to get workers back to the office.
Wilson told City A.M.’s The City View podcast that public confidence in the safety of cities and public transport networks needs to be restored to get workers back to the office.
“There is a great fear of using the transportation system…we have got to break down that fear and to do that people will have to travel by train,” he said.
Wilson said L&G’s offices have remained open throughout the pandemic but at dramatically reduced occupancy rates.
He said the business was slowly upping the numbers of people in its offices and trying to build staff confidence that it was safe to return to work.
“We have a programme of gradually bringing people back into the office and that’s been very successful so far at all of our offices,” he said.
“People have a natural fear of going back to the office… we try to get people used to this through baby steps. Bringing them back in for a day, letting them travel in, see what that’s like, get some confidence working in the office again, get some confidence of working with their colleagues again and we are learning a lot through all of that process and so far it has been pretty successful,” he added.
“People feel we are getting the balance about right now, our employee engagement scores are probably the highest they have ever been because the company sees we are taking proactive but very measured steps and recognising the issues and concerns of all of our people,” Wilson said.


cityam--2020-08-10--HMRC triples number of tax probes into footballers

The UK ’ s tax authority has tripled the number of investigations into professional footballers in the year to March as a part of a wider tax avoidance crackdown .
HM Revenue and Customs ( HMRC ) opened 246 probes into professional footballers in the year to March 2020 , which was an increase from 87 in the previous year .
The FT reports that the HMRC also opened 25 investigations into football clubs and 55 that involved player agents , according to data obtained by accountancy firm UHY Hacker Young through a freedom of information request .
The increased @ @ @ @ @ @ @ a part of a concerted push by the UK ’ s tax body to focus on tax avoidance in the wake of the 2016 Panama Papers .
Before the Open newsletter : Start your day with the City View podcast and key market data An HMRC spokesperson told the FT : “ We ’ re clear that everyone must pay what they owe under the law — regardless of their wealth , status or job .
The department ’ s work in the football industry is a demonstration of this ongoing effort to @ @ @ @ @ @ @ members.
” Player agents are often responsible for managing finances for footballers , most of which have little experience in dealing with these areas .
Read more : Football is in ‘ rescue mode ’ says Premier League boss UHY Hacker Young partner Elliott Buss said this meant that many players were just not aware of the risks in this area .
“ For a young footballer who is unlikely to know a great deal about tax compliance , the choice between paying 19 per cent and 45 per cent in tax can @ @ @ @ @ @ @ ” he said .

HMRC triples number of tax probes into footballers
The UK’s tax authority has tripled the number of investigations into professional footballers in the year to March as a part of a wider tax avoidance crackdown.
HM Revenue and Customs (HMRC) opened 246 probes into professional footballers in the year to March 2020, which was an increase from 87 in the previous year.
The FT reports that the HMRC also opened 25 investigations into football clubs and 55 that involved player agents, according to data obtained by accountancy firm UHY Hacker Young through a freedom of information request.
The increased number of footballers under investigation comes as a part of a concerted push by the UK’s tax body to focus on tax avoidance in the wake of the 2016 Panama Papers.
Before the Open newsletter: Start your day with the City View podcast and key market data
An HMRC spokesperson told the FT: “We’re clear that everyone must pay what they owe under the law — regardless of their wealth, status or job. The department’s work in the football industry is a demonstration of this ongoing effort to help support the football industry and their members.”
Player agents are often responsible for managing finances for footballers, most of which have little experience in dealing with these areas.
UHY Hacker Young partner Elliott Buss said this meant that many players were just not aware of the risks in this area.
“For a young footballer who is unlikely to know a great deal about tax compliance, the choice between paying 19 per cent and 45 per cent in tax can seem like a very easy one,” he said.


cityam--2020-08-10--Welcoming Londoners back to Finsbury Circus Gardens

This month , the Square Mile ’ s largest open space and London ’ s first public park is opening once more after being closed for 10 years due to Crossrail works .
We are delighted to reopen the beautiful Finsbury Circus Gardens for the public to enjoy this summer , as staff begin to return to the City for work .
Finsbury Circus Gardens is a hidden gem in the heart of the Square Mile .
It is a site that is of great benefit to so many Londoners .
Read more : The road towards a greener , @ @ @ @ @ @ @ the lockdown we have all navigated , more and more people have recognised the importance of green spaces to both their physical and mental health .
Parks like Finsbury Circus Gardens provide much needed tranquillity in the highly urbanised spaces in which we live and work .
They are vital to our emotional wellbeing .
We all know that spending time surrounded by nature can lead to a dramatic improvement in our health and wellbeing , reducing stress and anxiety by providing a welcome break from busy schedules .
And the Vitamin D @ @ @ @ @ @ @ the happiness hormone .
Now more than ever , people need first-class open spaces .
So a temporary lawn has been put in place for visitors , workers and residents to enjoy at Finsbury Circus Gardens , while the City Corporation works on designing a first-class garden which is fit for the future .
Measuring just under two acres , the site is the oldest and one of the most prestigious public parks in the City , receiving over two million visits a year .
In March 2010 , Crossrail took possession of @ @ @ @ @ @ @ a works site to construct its high-speed rail link .
Now , this has finally been handed back to the City Corporation .
In June , we launched an architecture design competition to transform the Grade II listed gardens , offering a unique opportunity to be part of the project to reinstate the landscaping and pavilion on the site .
We asked applicants to come up with the most creative and sustainable design ideas to return the park to a multifunctional public space , restore its historic features , and reshape it back @ @ @ @ @ @ @ forward to working with the successful architect to deliver the scheme over the coming year .
The City of London Corporation manages over 200 green spaces in the Square Mile , creating a network of gardens , churchyards , parks , plazas and highway plantings .
In the City , these open spaces provide a haven for birds , butterflies and other wildlife .
They are also a place for rest and recreation which help people relax and feel more in contact with the natural world .
Londoners have been experiencing very difficult @ @ @ @ @ @ @ and there is still some way to go until the City reaches a “ new normal ” .
Now , we are encouraging people to enjoy our green spaces responsibly and in line with the government guidance on social distancing , so that we can all experience the physical and mental wellbeing benefits that they offer .
Covid-19 has posed a great challenge to everyone , but the fundamental strengths of London and the UK — with its world-class green spaces — give us reason to be confident that all will be overcome @ @ @ @ @ @ @ delivered straight to your inbox in our daily Midday Update newsletter .

Welcoming Londoners back to Finsbury Circus Gardens
Finsbury Circus Gardens
This month, the Square Mile’s largest open space and London’s first public park is opening once more after being closed for 10 years due to Crossrail works.
We are delighted to reopen the beautiful Finsbury Circus Gardens for the public to enjoy this summer, as staff begin to return to the City for work.
Finsbury Circus Gardens is a hidden gem in the heart of the Square Mile. It is a site that is of great benefit to so many Londoners.
Throughout this pandemic and the lockdown we have all navigated, more and more people have recognised the importance of green spaces to both their physical and mental health. Parks like Finsbury Circus Gardens provide much needed tranquillity in the highly urbanised spaces in which we live and work. They are vital to our emotional wellbeing.
We all know that spending time surrounded by nature can lead to a dramatic improvement in our health and wellbeing, reducing stress and anxiety by providing a welcome break from busy schedules. And the Vitamin D provided by sunlight helps release serotonin — the happiness hormone.
Now more than ever, people need first-class open spaces.
So a temporary lawn has been put in place for visitors, workers and residents to enjoy at Finsbury Circus Gardens, while the City Corporation works on designing a first-class garden which is fit for the future.
Measuring just under two acres, the site is the oldest and one of the most prestigious public parks in the City, receiving over two million visits a year.
In March 2010, Crossrail took possession of a substantial part of the garden for a works site to construct its high-speed rail link. Now, this has finally been handed back to the City Corporation.
In June, we launched an architecture design competition to transform the Grade II listed gardens, offering a unique opportunity to be part of the project to reinstate the landscaping and pavilion on the site.
We asked applicants to come up with the most creative and sustainable design ideas to return the park to a multifunctional public space, restore its historic features, and reshape it back into a green sanctuary. We look forward to working with the successful architect to deliver the scheme over the coming year.
The City of London Corporation manages over 200 green spaces in the Square Mile, creating a network of gardens, churchyards, parks, plazas and highway plantings.
In the City, these open spaces provide a haven for birds, butterflies and other wildlife. They are also a place for rest and recreation which help people relax and feel more in contact with the natural world.
Londoners have been experiencing very difficult times over the past few months, and there is still some way to go until the City reaches a “new normal”. Now, we are encouraging people to enjoy our green spaces responsibly and in line with the government guidance on social distancing, so that we can all experience the physical and mental wellbeing benefits that they offer.
Covid-19 has posed a great challenge to everyone, but the fundamental strengths of London and the UK — with its world-class green spaces — give us reason to be confident that all will be overcome.
Get City A.M. columnists’ views delivered straight to your inbox in our daily Midday Update newsletter.
Main image credit: City of London Corporation


cityam--2020-08-10--FTSE 100 climbs on economic recovery hopes

The FTSE 100 opened in the green this morning as investors shrugged off concerns about ongoing tensions between China and the US .
The blue-chip index was up 0.93 per cent at 6,087 points in early trading , before dipping to a 0.20 per cent rise shortly before 11am .
The positive start to weekly trading comes despite a deterioration in relations between the world ’ s two largest economies that has weighed on sentiment in recent weeks .
Last week US President Donald Trump signed two executive orders banning American companies from doing business with Tiktok and Wechat , @ @ @ @ @ @ @ Tencent .
The bans come into force in 45 days ’ time , while the US has also sanctioned 11 US and Hong Kong officials .
But fears over the escalating trade war were offset by improved data from both the US and China , including a second consecutive month of consumer inflation in China .
However , Fiona Cincotta at City Index warned that gains would likely be capped by continued concerns about diplomatic tensions , a dearth of corporate releases and a focus on US stimulus talks .
Connor Campbell , @ @ @ @ @ @ @ was a “ list the length of your arm why investors should be feeling edge ” .
“ Setting all of that aside , the markets decided to instead celebrate the latest payroll tax-cutting executive orders from Trump , designed to bypass the blockade in Congress regarding coronavirus relief , ” he added .
The FTSE 250 outperformed its more international counterparts on the blue-chip index to rise just under 0.5 per cent to 17,704 by 11am .
“ This comes despite fears that Boris Johnson could spark a second wave of business @ @ @ @ @ @ @ could reopen in September , ” said Joshua Mahoney , senior market analyst at IG .
Read more : Tory MPs in China Research Group targeted by phishing attacks “ With the furlough scheme expected to end in October , there are still significant questions that loom large for investors , yet the huge global fiscal and monetary stimulus push appears to be helping to paper over the cracks for markets.
” Germany ’ s Dax was up 0.41 per cent in early trading at 12,726 points , while French benchmark Cac 40 @ @ @ @ @ @ @ .

FTSE 100 climbs on economic recovery hopes
The FTSE 100 pushed higher today as investors shrugged off concerns about ongoing tensions between China and the US and focused on positive signs of economic recovery.
The blue-chip index was up 0.93 per cent at 6,087 points in early trading, before dipping to a 0.42 per cent rise shortly before 3pm.
The positive start to weekly trading comes despite a deterioration in relations between the world’s two largest economies that has weighed on sentiment in recent weeks.
Last week US President Donald Trump signed two executive orders banning American companies from doing business with Tiktok and Wechat, which is owned by Chinese tech giant Tencent.
The bans come into force in 45 days’ time, while the US has also sanctioned 11 US and Hong Kong officials.
But fears over the escalating trade war were offset by improved data from both the US and China, including a second consecutive month of consumer inflation in China.
The FTSE 100 was also buoyed by a one per cent increase in oil prices after Saudi Aramco provided an upbeat view of Asian demand and Iraq pledged to deepen supply cuts.
Shares in BP and Royal Dutch Shell rose 3.24 per cent and 2.27 per cent respectively.
However, Fiona Cincotta at City Index warned the FTSE’s gains would likely be capped by continued concerns about diplomatic tensions, a dearth of corporate releases and a focus on US stimulus talks.
Connor Campbell, financial analyst at Spreadex, said there was a “list the length of your arm why investors should be feeling edge”.
“Setting all of that aside, the markets decided to instead celebrate the latest payroll tax-cutting executive orders from Trump, designed to bypass the blockade in Congress regarding coronavirus relief,” he added.
The FTSE 250 outperformed its more international counterparts on the blue-chip index, gaining 0.7 per cent to hit a seven-week high before settling up 0.55 per cent shortly before 3pm.
“This comes despite fears that Boris Johnson could spark a second wave of business closures in a bid to ensure schools could reopen in September,” said Joshua Mahoney, senior market analyst at IG.
“With the furlough scheme expected to end in October, there are still significant questions that loom large for investors, yet the huge global fiscal and monetary stimulus push appears to be helping to paper over the cracks for markets.”
Germany’s Dax was up 0.33 per cent at 12,717 points, while French benchmark Cac 40 also rose 0.51 per cent to 4,914.


cityam--2020-08-10--A third of UK firms plan job cuts by October as furlough scheme ends

As many as one in three UK firms plan to slash jobs by October as the government winds up its coronavirus furlough scheme , a new survey has revealed .
Roughly 33 per cent of companies , charities and public sector bodies said they expected to make redundancies in the third quarter , according to a poll from the Chartered Institute of Personnel Development ( CIPD ) and staffing firm Adecco Group .
Read more : UK construction sector slashes more jobs despite post-lockdown boom The figures mark a 50 per cent increase in the number of firms expecting to @ @ @ @ @ @ @ months ago .
Twice as many private sector employers are set to make cuts compared to public sector bodies .
The grim survey highlights the potential scale of job losses across the country as the coronavirus job retention scheme draws to a close .
The programme , which came into effect in April , saw the government pay 80 per cent of wages for workers who were placed on furlough .
It is likely to have prevented swathes of job losses .
However , from this month employers have been forced to contribute @ @ @ @ @ @ @ set to be withdrawn completely at the end of October .
Gerwyn Davies , senior labour market adviser at the CIPD , warned of a “ sombre autumn for jobs ” .
“ Until now , redundancies have been low — no doubt due to the job retention scheme — but we expect to see more redundancies come through this autumn , especially in the private sector once the scheme closes.
” The survey showed overall hiring intentions have increased , with almost half of employers expecting to take on new staff in @ @ @ @ @ @ @ 40 per cent in the previous quarter .
However , Davies warned this rise was unlikely to offset increased redundancies and the number of new graduates entering the job market in the next few months .
He added that employers were also likely to initiate a squeeze on pay , though this could help to limit large-scale job cuts .
UK companies have already cut thousands of jobs across the country as the pandemic ravaged all sectors of the economy .
Read more : Pub chain JD Wetherspoon to cut up to 130 @ @ @ @ @ @ @ the worst affected companies during the crisis , with British Airways and Virgin Atlantic slashing 12,000 and 3,000 jobs respectively .
Other blue-chip names such as BP have announced large-scale redundancies , while the retail and leisure sectors have suffered thousands of job losses .

A third of UK firms plan job cuts by October as furlough scheme ends
As many as one in three UK firms plan to slash jobs by October as the government winds up its coronavirus furlough scheme, a new survey has revealed.
Roughly 33 per cent of companies, charities and public sector bodies said they expected to make redundancies in the third quarter, according to a poll from the Chartered Institute of Personnel Development (CIPD) and staffing firm Adecco Group.
The figures mark a 50 per cent increase in the number of firms expecting to make cuts since the previous report three months ago. Twice as many private sector employers are set to make cuts compared to public sector bodies.
The grim survey highlights the potential scale of job losses across the country as the coronavirus job retention scheme draws to a close.
The programme, which came into effect in April, saw the government pay 80 per cent of wages for workers who were placed on furlough. It is likely to have prevented swathes of job losses.
However, from this month employers have been forced to contribute to the scheme and the support is set to be withdrawn completely at the end of October.
Gerwyn Davies, senior labour market adviser at the CIPD, warned of a “sombre autumn for jobs”.
“Until now, redundancies have been low — no doubt due to the job retention scheme — but we expect to see more redundancies come through this autumn, especially in the private sector once the scheme closes.”
The survey showed overall hiring intentions have increased, with almost half of employers expecting to take on new staff in the next three months, up from 40 per cent in the previous quarter.
However, Davies warned this rise was unlikely to offset increased redundancies and the number of new graduates entering the job market in the next few months. He added that employers were also likely to initiate a squeeze on pay, though this could help to limit large-scale job cuts.
UK companies have already cut thousands of jobs across the country as the pandemic ravaged all sectors of the economy.
Airlines have been among the worst affected companies during the crisis, with British Airways and Virgin Atlantic slashing 12,000 and 3,000 jobs respectively.
Other blue-chip names such as BP have announced large-scale redundancies, while the retail and leisure sectors have suffered thousands of job losses.


cityam--2020-08-10--Capita extends £355m deal to manage congestion charge

Outsourcing giant Capita today announced that it had extended three contracts with Transport for London ( TfL ) in a deal worth £355m .
Under the contracts , Capita will continue to run London ’ s Congestion Charge , Low Emission Zone ( LEZ ) and Ultra Low Emission Zone ( ULEZ ) until October 2026 .
Read more : Bus operators welcome new £220m government package Shares in the firm rose three per cent this morning after the announcement .
Part of the deal will see the FTSE 250 firm manage the expansion of the ULEZ to encompass the @ @ @ @ @ @ @ Circular and South Circular roads .
The newly extended zone will be many times larger than the congestion charge zone and include much of the capital .
Capita said that it would hire and train 900 new staff in order to run the expanded scheme , which is expected to be operational in October next year .
Before the Open newsletter : Start your day with the City View podcast and key market data Alongside the ULEZ expansion , the firm will also take on the running of the registration and monitoring service @ @ @ @ @ @ @ goods vehicles ( HGVs ) .
This is an initiative to measure how safely an HGV driver can see through their cab windows and will prevent unsafe vehicles from using London ’ s roads , with the goal of reducing the number of pedestrian , cyclist and motorcyclist injuries and fatalities .
Chief executive Jon Lewis said : “ We are delighted to be continuing to partner with Transport for London , working across Capita ’ s divisions to manage and administer the Congestion Charge , LEZ and ULEZ .
Read more : @ @ @ @ @ @ @ shops and cafes is ‘ urgent priority ’ “ These new contracts will see us build on our existing partnership , which has already seen us launch ULEZ on time and on budget , and will draw on our track record of transformation and digitally enabled services , as well as adding value for our shareholders.
” London ’ s ULEZ , the first such zone in the world , has already contributed to a reduction of 44 per cent in roadside nitrogen dioxide within its boundaries , while 79 per cent of @ @ @ @ @ @ @ standards .

Capita extends £355m deal to manage congestion charge
Outsourcing giant Capita today announced that it had extended three contracts with Transport for London (TfL) in a deal worth £355m.
Under the contracts, Capita will continue to run London’s Congestion Charge, Low Emission Zone (LEZ) and Ultra Low Emission Zone (ULEZ) until October 2026.
Shares in the firm rose three per cent this morning after the announcement.
Part of the deal will see the FTSE 250 firm manage the expansion of the ULEZ to encompass the entire area within London’s North Circular and South Circular roads.
The newly extended zone will be many times larger than the congestion charge zone and include much of the capital.
Capita said that it would hire and train 900 new staff in order to run the expanded scheme, which is expected to be operational in October next year.
Before the Open newsletter: Start your day with the City View podcast and key market data
Alongside the ULEZ expansion, the firm will also take on the running of the registration and monitoring service for the new DVS scheme for heavy goods vehicles (HGVs).
This is an initiative to measure how safely an HGV driver can see through their cab windows and will prevent unsafe vehicles from using London’s roads, with the goal of reducing the number of pedestrian, cyclist and motorcyclist injuries and fatalities.
Chief executive Jon Lewis said: “We are delighted to be continuing to partner with Transport for London, working across Capita’s divisions to manage and administer the Congestion Charge, LEZ and ULEZ.
“These new contracts will see us build on our existing partnership, which has already seen us launch ULEZ on time and on budget, and will draw on our track record of transformation and digitally enabled services, as well as adding value for our shareholders.”
London’s ULEZ, the first such zone in the world, has already contributed to a reduction of 44 per cent in roadside nitrogen dioxide within its boundaries, while 79 per cent of vehicles entering the area meet its emission standards.


cityam--2020-08-10--The City View: Bright spots amid the unemployment storm clouds, with REC chief Neil Carberry

In this episode Christian is joined by Neil Carberry , chief executive of the Recruitment and Employment Confederation , which represents over 3,000 recruitment companies across the country .
Neil gives his assessment of the jobs market and the changes coming its way , and offers advice for job seekers or those looking to change their career during these uncertain times .
He also adds his voice to the great ‘ working from home ’ debate — suggesting that while it has many upsides , and is here to stay in some form , the office is still important and @ @ @ @ @ @ @ away ’ in assuming we won ’ t ever return to them .
Also in this episode , Christian looks at the latest survey of British businesses considering job cuts ; a plea for help from the retail and hospitality sectors ; and Canary Wharf ’ s efforts to reassure bankers that the iconic site is safe to return to .
ETX Capital is one of the UK ’ s leading spread betting and CFD trading providers , offering services to retail , institutional , professional and high net worth customers via an @ @ @ @ @ @ @ years of experience in the financial markets , customers and service are always put first at ETX , and the company prides itself in offering a tailor-made trading experience to every customer .
The multi-device TraderPro platform delivers a fully customisable , award-winning trading technology with customisable charts , instant execution and over 5,000 markets to trade .
Disclaimer : Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage .
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Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721 .
ETX Capital provides an execution-only service and therefore any market analysis , opinion , commentary or other information provided during this webinar is for educational purposes only and is not intended to be a personal recommendation or construed as advice .
ETX Capital and the presenter are not financial or investment advisors and @ @ @ @ @ @ @ kind .
Any instruments that are mentioned throughout are cited only for illustrative and educational purposes .

The City View: How to change jobs in a crisis, with REC chief Neil Carberry
Subscribe to The City View Podcast: Apple / Google / Spotify / RSS
In this episode Christian is joined by Neil Carberry, chief executive of the Recruitment and Employment Confederation, which represents over 3,000 recruitment companies across the country.
Neil gives his assessment of the jobs market and the changes coming its way, and offers advice for job seekers or those looking to change their career during these uncertain times.
He also adds his voice to the great ‘working from home’ debate — suggesting that while it has many upsides, and is here to stay in some form, the office is still important and people ‘shouldn’t get carried away’ in assuming we won’t ever return to them.
Also in this episode, Christian looks at the latest survey of British businesses considering job cuts; a plea for help from the retail and hospitality sectors; and Canary Wharf’s efforts to reassure bankers that the iconic site is safe to return to.
In association with ETX Capital
ETX Capital is one of the UK’s leading spread betting and CFD trading providers, offering services to retail, institutional, professional and high net worth customers via an award-winning trading platform. With over 50 years of experience in the financial markets, customers and service are always put first at ETX, and the company prides itself in offering a tailor-made trading experience to every customer. The multi-device TraderPro platform delivers a fully customisable, award-winning trading technology with customisable charts, instant execution and over 5,000 markets to trade.
Disclaimer: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting or trading CFDs with ETX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money. Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721. ETX Capital provides an execution-only service and therefore any market analysis, opinion, commentary or other information provided during this webinar is for educational purposes only and is not intended to be a personal recommendation or construed as advice. ETX Capital and the presenter are not financial or investment advisors and do not recommend any instrument of any kind. Any instruments that are mentioned throughout are cited only for illustrative and educational purposes.


cityam--2020-08-10--London to receive £50m of extra winter NHS funding

Boris Johnson has confirmed £300m in extra winter NHS funding for England , with London hospitals in line for £49.6m , as the government prepares for a potential second coronavirus wave .
The extra funding was announced last month for hospitals to prepare for a potential second wave and the government has today how it has allocated the money to 117 NHS trusts .
Barths Health NHS Trust will receive the most funding in London , with £6.4m , followed by Barkering , Havering and Redbridge University Hospitals NHS Trust with £4.1m .
From other regions , the North East @ @ @ @ @ @ @ funding with £53.76m , followed by the Midlands with £50.07m .
Downing Street said the funding could be used to “ expand waiting areas and increase the number of treatment cubicles , helping them boost A and E capacity by providing additional space , reducing overcrowding and improving infection control measures ” .
Read more : Coronavirus : Which English towns are at risk of a local lockdown ?
The Prime Minister has also told people that they should feel confident to A and E departments for reasons other than coronavirus .
“ @ @ @ @ @ @ @ prepare for the winter months , helping them to deliver essential services and reduce the risk of coronavirus infections , ” he said .
“ It ’ s vital that those who need emergency treatment this winter access it , and for those who remain concerned about visiting hospitals , let me assure you that the NHS has measures in place to keep people safe .
”

London to receive £50m of extra winter NHS funding
Boris Johnson has confirmed £300m in extra winter NHS funding for England, with London hospitals in line for £49.6m, as the government prepares for a potential second coronavirus wave.
The extra funding was announced last month for hospitals to prepare for a potential second wave and the government has today how it has allocated the money to 117 NHS trusts.
Barths Health NHS Trust will receive the most funding in London, with £6.4m, followed by Barkering, Havering and Redbridge University Hospitals NHS Trust with £4.1m.
From other regions, the North East and Yorkshire received the greatest share of funding with £53.76m, followed by the Midlands with £50.07m.
Downing Street said the funding could be used to “expand waiting areas and increase the number of treatment cubicles, helping them boost A and E capacity by providing additional space, reducing overcrowding and improving infection control measures”.
The Prime Minister has also told people that they should feel confident to A and E departments for reasons other than coronavirus.
“These upgrades will help our fantastic NHS prepare for the winter months, helping them to deliver essential services and reduce the risk of coronavirus infections,” he said.
“It’s vital that those who need emergency treatment this winter access it, and for those who remain concerned about visiting hospitals, let me assure you that the NHS has measures in place to keep people safe.”


cityam--2020-08-10--Fiat Chrysler accuses General Motors of making 'preposterous allegations'

Fiat Chrysler has said a recent filing by rival General Motors was like a “ third-rate spy movie ” , asking a US federal judge to dismiss its request to reinstate a racketeering lawsuit .
Fiat Chrysler , which is set to merge with French carmaker PSA next year , said the filing was “ full of preposterous allegations ” .
General Motors had last week petitioned a judge to reopen the case , claiming it had new information on foreign accounts used in an alleged bribery scheme involving Fiat Chrysler and the leaders of the United Auto Workers union @ @ @ @ @ @ @ out by US federal judge Paul Borman last month , saying the rival carmaker ’ s alleged injuries were not caused by Fiat ’ s alleged violations .
When it first filed its lawsuit last year , General Motors claimed that Fiat Chrysler had bribed UAW officials over many years to gain advantages .
General Motors was seeking “ substantial damages ” at the time , which one analyst said could have amounted to at least $ 6bn .
Fiat today said that because it operates businesses more than 40 countries , the @ @ @ @ @ @ @ the company is “ unremarkable , and certainly not illegal ” .
Read more : SMMT : New UK car sales rise 11 per cent post-lockdown General Motors said it intends to uncover “ the full extent of harm the FCA bribery scheme caused GM ” in response to the rival ’ s filing .
“ FCA ’ s corruption of the collective bargaining process remains undeniable , ” the carmaker said in a statement .
In a letter to staff seen by Reuters , Fiat Chrysler chief executive Mike Manley said : @ @ @ @ @ @ @ this series of attacks is directly related to our success in competing and winning where it matters , in the market.
” “ The consistent strengths we ’ ve demonstrated over the last decade will be deployed to even greater effect as we complete our merger with Groupe PSA .
”

Fiat Chrysler accuses General Motors of making ‘preposterous allegations’
Fiat Chrysler has said a recent filing by rival General Motors was like a “third-rate spy movie”, asking a US federal judge to dismiss its request to reinstate a racketeering lawsuit.
Fiat Chrysler, which is set to merge with French carmaker PSA next year, said the filing was “full of preposterous allegations”.
General Motors had last week petitioned a judge to reopen the case, claiming it had new information on foreign accounts used in an alleged bribery scheme involving Fiat Chrysler and the leaders of the United Auto Workers union.
General Motors’ lawsuit was thrown out by US federal judge Paul Borman last month, saying the rival carmaker’s alleged injuries were not caused by Fiat’s alleged violations.
When it first filed its lawsuit last year, General Motors claimed that Fiat Chrysler had bribed UAW officials over many years to gain advantages.
General Motors was seeking “substantial damages” at the time, which one analyst said could have amounted to at least $6bn.
Fiat today said that because it operates businesses more than 40 countries, the existence of foreign bank accounts belonging to the company is “unremarkable, and certainly not illegal”.
General Motors said it intends to uncover “the full extent of harm the FCA bribery scheme caused GM” in response to the rival’s filing.
“FCA’s corruption of the collective bargaining process remains undeniable,” the carmaker said in a statement.
In a letter to staff seen by Reuters, Fiat Chrysler chief executive Mike Manley said: “It is… clear to me that this series of attacks is directly related to our success in competing and winning where it matters, in the market.”
“The consistent strengths we’ve demonstrated over the last decade will be deployed to even greater effect as we complete our merger with Groupe PSA.”