cityam--2020-12-21--Liftoff: Boeing's embattled 737-Max to receive EU flying approval

The European aviation safety watchdog is expected to give Boeing ’ s controversial 737-Max aircraft the OK to fly in @ @ @ @ @ Aviation Safety Agency ( EASA ) boss Patrick Ky told the BBC he was “ @ @ @ @ @ safe to fly .
He said his inspectors had “ left no stone unturned ” @ @ @ @ @ the design after two crashes .
US regulators gave the go-ahead earlier this month , @ @ @ @ @ for pilots .
Boeing have been hit hard by years of delay and controversy around @ @ @ @ @ supposed to give the American firm a serious short-haul competitor to Airbus .
Despite the @ @ @ @ @ than 300 people , Ryanair are amongst those carriers who have put in orders .
@ @ @ @ @ , once all the planes are delivered , have more than 200 737-Max ’ s @ @ @

Liftoff: Boeing’s embattled 737-Max to receive EU flying approval
737-Max aircraft sit on the tarmac (Photo by David Ryder/Getty Images)
The European aviation safety watchdog is expected to give Boeing’s controversial 737-Max aircraft the OK to fly in the New Year.
European Aviation Safety Agency (EASA) boss Patrick Ky told the BBC he was “certain” the aircraft was safe to fly.
He said his inspectors had “left no stone unturned” in assessing the changes to the design after two crashes.
Read more: Ryanair increase order of 737-Max aircraft
US regulators gave the go-ahead earlier this month, though insisted upon mandatory training for pilots.
Boeing have been hit hard by years of delay and controversy around the aircraft, which was supposed to give the American firm a serious short-haul competitor to Airbus.
Despite the two crashes, killing more than 300 people, Ryanair are amongst those carriers who have put in orders.
The low-cost European operator will, once all the planes are delivered, have more than 200 737-Max’s in service.


cityam--2020-12-21--Will 2021 be the FTSE 100’s year?

Will 2021 be the FTSE 100’s year?

The FTSE 100 has been playing catch-up for most of this year .
After the historic market crash in the spring , the UK ’ s main stock index – which lacks glittery tech names – has lagged behind .
The US ’ s S & P 500 climbed about 12 per cent from the start of the year to 1 December , while Germany ’ s Dax was roughly flat .
Britain ’ s FTSE 100 was down around 16 per cent , however , with Brexit adding to the pressure .
It is being hammered again today , @ @ @ @ @ @ @ worry about the short-term health of economies .
Read more : Covid vaccine : 138,000 people in UK get Pfizer jab in first week But things could change next year .
Investors are asking themselves ahead of 2021 whether vaccine rollouts and a rebound in global growth will make the FTSE a star performer .
Here are some key issues that will be driving UK stocks next year , for good or ill .
The Bank of England has said the roll out of vaccines in the UK improved the outlook next year @ @ @ @ @ @ @ so far .
Some economists said they could lead to much more rapid growth than originally expected .
This is good news for the FTSE 100 in 2021 , analysts say .
It is full of firms from sectors that were hit hard by coronavirus : banking , industrials , retail , travel .
Generali Investments said it liked UK stocks because of the expected stronger growth .
Its 2021 outlook said : “ We maintain our preference for value and cyclicals sectors and countries.
” It added that it fancied “ financials @ @ @ @ @ @ @ ” .
Read more : Bank of England holds rates and says vaccines ‘ reduce risks ’ to economy UBS said it is “ bullish on the UK , ” predicting a rise of 13 per cent in the FTSE by the end of 2021 to 7,200 .
Consultancy Capital Economics said the FTSE 100 could even hit 7,500 next year from its current level of around 6,500 .
However , there is still a great deal of uncertainty about the future path of the economy , with fresh lockdowns and disruption posing @ @ @ @ @ @ @ to boost the market ?
Another factor analysts expect to boost the FTSE 100 is the restarting of dividend payments by firms , particularly banks .
The Bank of England lent on banks to stop payouts in the spring .
It said they should reserve capital for lending .
But it has since given them the green light to resume .
Read more : UK Banks OK to restart dividend payments , PRA says Analysis by broker AJ Bell showed that 53 current of former FTSE 100 members cut , deferred or cancelled @ @ @ @ @ @ @ the calendar year 2020 .
But it said 15 firms have now returned or declared their intention to return to the dividend list for the 2020 fiscal year .
Is Brexit good or bad for UK stocks ?
On top of the worst economic crash in 300 years , FTSE 100 investors have also had to contend with Brexit .
Talks are ongoing , with a final decision expected soon .
The UK ’ s official economic forecaster said no deal would knock two per cent off the economy in 2021 .
And @ @ @ @ @ @ @ financial volatility and disruption .
Nonetheless , a no-deal Brexit would also hit the pound .
Analysts said this is likely to benefit the FTSE 100 in 2021 as it boosts the overseas earnings of FTSE firms .
Either way , “ the UK ’ s 2021 Covid bounce-back will be dampened by Brexit as barriers to trade increase and investment wanes , ” said Seema Shah , chief investment strategist at Principal Global Investors , in a note to clients .
Shah said this should take sterling to “ more reasonable levels @ @ @ @ @ @ @ be a good opportunity to take advantage of the UK ’ s relatively cheap valuations ” .
A key question for the FTSE 100 in 2021 is whether investors will move from “ growth ” stocks such as the big US tech names Amazon and Google towards “ value ” stocks , including banks and industrials .
Some analysts have said the tech firms will struggle to live up to market expectations as normal life resumes .
But others argue the coronavirus pandemic has caused a major shift .
Read more : EU @ @ @ @ @ @ @ fines for tech giants Laith Khalaf , financial analyst at AJ Bell , said DIY investors that use the platform think tech growth is here to stay , according to an internal survey .
“ Just over half of investors expect technology stocks to continue on their winning run next year , ” he said .
He added that only one in five expect “ a reversal of fortunes for the sector ” .

Will 2021 be the FTSE 100’s year?
The London Stock Exchange’s FTSE 100 has suffered this year, but analysts say 2021 will be much better
The FTSE 100 has been playing catch-up for most of this year. After the historic market crash in the spring, the UK’s main stock index – which lacks glittery tech names – has lagged behind.
The US’s S&P 500 climbed about 12 per cent from the start of the year to 1 December, while Germany’s Dax was roughly flat. Britain’s FTSE 100 was down around 16 per cent, however, with Brexit adding to the pressure.
It is being hammered again today, along with global stocks, as investors worry about the short-term health of economies.
But things could change next year. Investors are asking themselves ahead of 2021 whether vaccine rollouts and a rebound in global growth will make the FTSE a star performer.
Here are some key issues that will be driving UK stocks next year, for good or ill.
A vaccine-driven FTSE 100 rebound in 2021?
The Bank of England has said the roll out of vaccines in the UK improved the outlook next year, while markets have cheered the progress so far. Some economists said they could lead to much more rapid growth than originally expected.
This is good news for the FTSE 100 in 2021, analysts say. It is full of firms from sectors that were hit hard by coronavirus: banking, industrials, retail, travel.
Generali Investments said it liked UK stocks because of the expected stronger growth.
Its 2021 outlook said: “We maintain our preference for value and cyclicals sectors and countries.” It added that it fancied “financials, energy and materials, in particular”.
UBS said it is “bullish on the UK,” predicting a rise of 13 per cent in the FTSE by the end of 2021 to 7,200. Consultancy Capital Economics said the FTSE 100 could even hit 7,500 next year from its current level of around 6,500.
However, there is still a great deal of uncertainty about the future path of the economy, with fresh lockdowns and disruption posing a major threat.
Will dividends return to boost the market?
Another factor analysts expect to boost the FTSE 100 is the restarting of dividend payments by firms, particularly banks.
The Bank of England lent on banks to stop payouts in the spring. It said they should reserve capital for lending. But it has since given them the green light to resume.
Analysis by broker AJ Bell showed that 53 current of former FTSE 100 members cut, deferred or cancelled more than £37bn of dividend payments in the calendar year 2020.
But it said 15 firms have now returned or declared their intention to return to the dividend list for the 2020 fiscal year.
The Bank of England gave banks the green light to resume dividend payments, which could boost the FTSE 100 in 2021
Is Brexit good or bad for UK stocks?
On top of the worst economic crash in 300 years, FTSE 100 investors have also had to contend with Brexit. Talks are ongoing, with a final decision expected soon.
The UK’s official economic forecaster said no deal would knock two per cent off the economy in 2021. And the Bank of England has warned of financial volatility and disruption.
Nonetheless, a no-deal Brexit would also hit the pound. Analysts said this is likely to benefit the FTSE 100 in 2021 as it boosts the overseas earnings of FTSE firms.
Either way, “the UK’s 2021 Covid bounce-back will be dampened by Brexit as barriers to trade increase and investment wanes,” said Seema Shah, chief investment strategist at Principal Global Investors, in a note to clients.
Shah said this should take sterling to “more reasonable levels”. She added it “may be a good opportunity to take advantage of the UK’s relatively cheap valuations”.
Will the tech rally survive?
A key question for the FTSE 100 in 2021 is whether investors will move from “growth” stocks such as the big US tech names Amazon and Google towards “value” stocks, including banks and industrials.
Some analysts have said the tech firms will struggle to live up to market expectations as normal life resumes. But others argue the coronavirus pandemic has caused a major shift.
Laith Khalaf, financial analyst at AJ Bell, said DIY investors that use the platform think tech growth is here to stay, according to an internal survey.
“Just over half of investors expect technology stocks to continue on their winning run next year,” he said. He added that only one in five expect “a reversal of fortunes for the sector”.


cityam--2020-12-21--Westminster year in review: Who is up and who is down in 2020?

As the UK ushered in 2020 it looked as if Boris Johnson had an unshakeable grasp on Westminster and the Conservative party .
Johnson ’ s election landslide win last December and his victory in dragging the UK out of the EU in January made him look infallible .
Before the Open newsletter : Start your day with the City View podcast and key market data His first full calendar year in office has instead been plagued , literally , by complete disaster and his approval rating is floundering .
City A.M. takes a look at who was up and @ @ @ @ @ @ @ a year almost everyone would simply like to forget .
Rishi Sunak started the year as a little known Treasury minister and will end it as the most popular member of the government and heir apparent to Johnson ’ s throne .
By the time Sunak delivered his first Budget in March , weeks after being appointed as chancellor , Covid was beginning to grip the UK and the country was in lockdown soon after .
Read more : Jacob Rees-Mogg tells Rishi Sunak that raising taxes will cost Tories next election He @ @ @ @ @ @ @ Budget and his star only rose higher as the Covid crisis progressed .
This helps when you spend more then £200bn to help keep the UK economy afloat , pay millions of people ’ s wages and give people half-priced meals for one glorious month .
He ’ s also been the government ’ s best public speaker and has often displayed a sense of empathy and likeability that is too rare in British politics today .
Sunak ’ s team also shrewdly built off his growing popularity , which included being ordained @ @ @ @ @ @ @ , by creating a bespoke media brand that separated him from the much maligned cabinet during the worst phases of the pandemic .
Now comes the hard part for Sunak – maintaining his popularity as job losses pile up and tough fiscal policy decisions need to be taken .
The latest polling figures show a majority of Scottish people would vote for independence if the vote was tomorrow .
Brexit , Johnson ’ s unpopularity north of the border and the government ’ s handling of the Covid crisis are thought to be @ @ @ @ @ @ @ .
Scottish first minister Nicola Sturgeon also continues to be popular in Scotland , despite overseeing an objectively awful Covid response .
The SNP also look set for another victory in next year ’ s Holyrood election , with the party already claiming that a win would give Scotland a mandate for another independence referendum .
Read more : Scotland ’ s public spending lead over England and Wales increases Johnson has said categorically on multiple occasions that there will not be another referendum as the 2014 vote was meant to be a @ @ @ @ @ @ @ .
In any case , look for Scottish independence to be one of the defining issues in Westminster and north of the border for years to come .
So far so good for Sir Keir Starmer who has brought Labour neck and neck with the Tories in Westminster polling .
He took over the party after its worst election defeat since 1935 and looked like he had much to do to clear away the far left faction from the levers of power .
To many people ’ s surprise this has happened very @ @ @ @ @ @ @ Labour ’ s ruling NEC body are now Starmer supporters and there are no Corbynistas left in the cabinet .
Read more : Sir Keir Starmer will not restore Labour whip to Jeremy Corbyn His grip over Labour is unquestioned and the party is already looking like a far more professional outfit than it has for many years .
His decision to not let Jeremy Corbyn to sit as a Labour MP , after the former leader ’ s response to the EHRC report on antisemitism in the party , was a defining @ @ @ @ @ @ @ still far , far away from power , but Starmer at least has them heading in the right direction .
Carrie Symonds and Johnson ’ s press secretary Allegra Stratton appear to have formed a new centre of power in Downing Street , which will help shape the future of his government .
Media reports painted Johnson ’ s fiancee as the architect of Dominic Cummings ’ downfall last month , after an almighty power struggle erupted at the heart of government .
Read more : Boris Johnson ’ s fiancee Carrie Symonds @ @ @ @ @ @ @ Stratton were victorious over the so-called Brexit lads Cummings and Lee Cain in what spelt the end of the Vote Leave government .
Symonds , who is a former head of communications for the Tory party , now stands as arguably the most influential of the Prime Minister ’ s political confidantes .
Stratton , a former ITV journalist , will also become a key face of the government next year when she begins to conduct daily televised press conferences .
An obvious one , I know , but it ’ s impossible @ @ @ @ @ @ @ the top of this list .
It really has been an awful year on and off the pitch for Johnson who has had to deal with a pandemic that has claimed 61,000 Britons , the worst recession for 300 years , tough Brexit negotiations , growing unease on the Tory backbenches and increasing unpopularity in the polls .
All this has come after almost dying of Covid in March and having a baby with Symonds just days after he got out of hospital himself .
He has also been dogged by rumours that @ @ @ @ @ @ @ the usually ebullient Johnson and that he is considering resigning as soon as next year .
And to think that Johnson started 2020 fresh off an election landslide victory and was on the cusp of overseeing the UK ’ s exit from the EU .
On the bright side for the PM is that the next election is still more than three years away and he has plenty of time to win back the public ’ s trust .
Expect him to focus heavily on the government ’ s agenda to “ level @ @ @ @ @ @ @ next year , while brandishing the UK ’ s impressive climate change record as the country hosts the 2021 United Nations Climate Change Conference .
The UK ’ s rollout of the first Covid vaccine just weeks ago will also have been an early Christmas present for Johnson .
None in the Westminster bubble has fallen further this year than Dominic Cummings .
Cummings started the year as Johnson ’ s most indispensable aide , with many in the media depicting him as pulling the strings in Downing Street .
His immense power @ @ @ @ @ @ @ evident in the amount of political capital the Prime Minister spent in standing by Cummings during the Durham lockdown saga .
In hindsight this incident , which turned into farce as Cummings fronted a press conference in the Downing Street garden , was the beginning of the end for the Vote Leave mastermind .
It looks that Cummings ’ Whitehall revolution will be left unfinished , barring a remarkable comeback .
Jeremy Corbyn and his acolytes have fallen off the political map , with the former opposition leader now not even sitting as @ @ @ @ @ @ @ only been eight months since Corbyn stepped down as Labour leader , but he has already returned to the political wilderness .
Corbyn was suspended by Labour in October for saying antisemitism in the party was exaggerated in response to the Equality and Human Rights Commission ’ s ( EHRC ) report into the party .
Read more : Sir Keir Starmer will not restore Labour whip to Jeremy Corbyn The suspension was quickly lifted by the party ’ s ruling body , however Starmer still refuses to allow Corbyn to sit as @ @ @ @ @ @ @ failure to apologise in full for them .
The influence of his wing of the party had already diminished greatly by this point , with Starmer largely banishing Labour MPs from the hard-left Socialist Campaign Group to the backbenches .
Corbyn has now fully returned to the political fringes from whence he came and has just launched the new Peace and Justice Project , which will likely become a new tool for the hard-left to fight back against the moderate takeover of Labour .
Health secretary Matt Hancock has led the UK ’ @ @ @ @ @ @ @ Minister , and ultimately has to be accountable for many of the government ’ s failings .
The UK has one of the highest level of Covid deaths per capita in the world and the government has been rocked by and endless stream of poor decisions and scandals .
Whether it was not providing enough personal protective equipment to hospitals at the start of the pandemic , failing to control the spread of Covid in care homes or failing to get a track and trace system up and running , the UK ’ @ @ @ @ @ @ @ constant errors .
Read more : London in Tier 3 : Will the City return to normal after Covid ?
While Hancock has had some victories – like raising the UK ’ s testing capacity to a very high level – he ultimately has to bear much of the country ’ s poor response as its health secretary .
There has been constant media speculation this year that Hancock will get axed as health secretary in the near future , with reports in summer suggesting Downing Street was setting him up to be @ @ @ @ @ @ @ Covid failures .

Westminster year in review: Who is up and who is down in 2020?
LONDON, ENGLAND – NOVEMBER 10: A general view of the Houses of Parliament as the sun sets on November 10, 2020 in London, England. (Photo by Leon Neal/Getty Images)
As the UK ushered in 2020 it looked as if Boris Johnson had an unshakeable grasp on Westminster and the Conservative party.
Johnson’s election landslide win last December and his victory in dragging the UK out of the EU in January made him look infallible.
Before the Open newsletter: Start your day with the City View podcast and key market data
His first full calendar year in office has instead been plagued, literally, by complete disaster and his approval rating is floundering.
City A.M. takes a look at who was up and who was down in Westminster, after a year almost everyone would simply like to forget.
Who’s up?
Rishi Sunak
Rishi Sunak is the most popular politician in the country, according to polling
Rishi Sunak started the year as a little known Treasury minister and will end it as the most popular member of the government and heir apparent to Johnson’s throne.
By the time Sunak delivered his first Budget in March, weeks after being appointed as chancellor, Covid was beginning to grip the UK and the country was in lockdown soon after.
He won high praise for his big spending Budget and his star only rose higher as the Covid crisis progressed.
This helps when you spend more then £200bn to help keep the UK economy afloat, pay millions of people’s wages and give people half-priced meals for one glorious month.
He’s also been the government’s best public speaker and has often displayed a sense of empathy and likeability that is too rare in British politics today.
Sunak’s team also shrewdly built off his growing popularity, which included being ordained as “dishy Rishi” on Twitter, by creating a bespoke media brand that separated him from the much maligned cabinet during the worst phases of the pandemic.
Now comes the hard part for Sunak – maintaining his popularity as job losses pile up and tough fiscal policy decisions need to be taken.
Nicola Sturgeon and the Scottish independence movement
Nicola Sturgeon has become more popular this year, despite a poor Covid response
The latest polling figures show a majority of Scottish people would vote for independence if the vote was tomorrow.
Brexit, Johnson’s unpopularity north of the border and the government’s handling of the Covid crisis are thought to be driving the renewed separatist sentiment in Scotland.
Scottish first minister Nicola Sturgeon also continues to be popular in Scotland, despite overseeing an objectively awful Covid response.
The SNP also look set for another victory in next year’s Holyrood election, with the party already claiming that a win would give Scotland a mandate for another independence referendum.
Johnson has said categorically on multiple occasions that there will not be another referendum as the 2014 vote was meant to be a “once in a generation” decision.
In any case, look for Scottish independence to be one of the defining issues in Westminster and north of the border for years to come.
Sir Keir Starmer
Sir Keir Starmer has Labour looking a lot more professional than it has in years
So far so good for Sir Keir Starmer who has brought Labour neck and neck with the Tories in Westminster polling.
He took over the party after its worst election defeat since 1935 and looked like he had much to do to clear away the far left faction from the levers of power.
To many people’s surprise this has happened very quickly – a majority of people on Labour’s ruling NEC body are now Starmer supporters and there are no Corbynistas left in the cabinet.
His grip over Labour is unquestioned and the party is already looking like a far more professional outfit than it has for many years.
His decision to not let Jeremy Corbyn to sit as a Labour MP, after the former leader’s response to the EHRC report on antisemitism in the party, was a defining moment for his leadership.
Labour is still far, far away from power, but Starmer at least has them heading in the right direction.
Carrie Symonds and Allegra Stratton
Carrie Symonds has been called the Prime Minister’s most trusted adviser
Carrie Symonds and Johnson’s press secretary Allegra Stratton appear to have formed a new centre of power in Downing Street, which will help shape the future of his government.
Media reports painted Johnson’s fiancee as the architect of Dominic Cummings’ downfall last month, after an almighty power struggle erupted at the heart of government.
Symonds and Stratton were victorious over the so-called Brexit lads Cummings and Lee Cain in what spelt the end of the Vote Leave government.
Symonds, who is a former head of communications for the Tory party, now stands as arguably the most influential of the Prime Minister’s political confidantes.
Stratton, a former ITV journalist, will also become a key face of the government next year when she begins to conduct daily televised press conferences.
Who’s down?
Boris Johnson
It’s been a tough year for the PM
An obvious one, I know, but it’s impossible not to put the Prime Minister at the top of this list.
It really has been an awful year on and off the pitch for Johnson who has had to deal with a pandemic that has claimed 61,000 Britons, the worst recession for 300 years, tough Brexit negotiations, growing unease on the Tory backbenches and increasing unpopularity in the polls.
All this has come after almost dying of Covid in March and having a baby with Symonds just days after he got out of hospital himself.
He has also been dogged by rumours that Covid has taken a long-term toll on the usually ebullient Johnson and that he is considering resigning as soon as next year.
And to think that Johnson started 2020 fresh off an election landslide victory and was on the cusp of overseeing the UK’s exit from the EU.
On the bright side for the PM is that the next election is still more than three years away and he has plenty of time to win back the public’s trust.
Expect him to focus heavily on the government’s agenda to “level up” the Midlands and the North next year, while brandishing the UK’s impressive climate change record as the country hosts the 2021 United Nations Climate Change Conference.
The UK’s rollout of the first Covid vaccine just weeks ago will also have been an early Christmas present for Johnson.
Dominic Cummings
Dominic Cummings was ousted from Downing Street last month
None in the Westminster bubble has fallen further this year than Dominic Cummings.
Cummings started the year as Johnson’s most indispensable aide, with many in the media depicting him as pulling the strings in Downing Street.
His immense power at the heart of government was especially evident in the amount of political capital the Prime Minister spent in standing by Cummings during the Durham lockdown saga.
In hindsight this incident, which turned into farce as Cummings fronted a press conference in the Downing Street garden, was the beginning of the end for the Vote Leave mastermind.
It looks that Cummings’ Whitehall revolution will be left unfinished, barring a remarkable comeback.
Jeremy Corbyn
Jeremy Corbyn and his acolytes have fallen off the political map, with the former opposition leader now not even sitting as as Labour MP.
It’s only been eight months since Corbyn stepped down as Labour leader, but he has already returned to the political wilderness.
Corbyn was suspended by Labour in October for saying antisemitism in the party was exaggerated in response to the Equality and Human Rights Commission’s (EHRC) report into the party.
The suspension was quickly lifted by the party’s ruling body, however Starmer still refuses to allow Corbyn to sit as a Labour MP for his comments and failure to apologise in full for them.
The influence of his wing of the party had already diminished greatly by this point, with Starmer largely banishing Labour MPs from the hard-left Socialist Campaign Group to the backbenches.
Corbyn has now fully returned to the political fringes from whence he came and has just launched the new Peace and Justice Project, which will likely become a new tool for the hard-left to fight back against the moderate takeover of Labour.
Matt Hancock
Health secretary Matt Hancock has led the UK’s coronavirus response, alongside the Prime Minister, and ultimately has to be accountable for many of the government’s failings.
The UK has one of the highest level of Covid deaths per capita in the world and the government has been rocked by and endless stream of poor decisions and scandals.
Whether it was not providing enough personal protective equipment to hospitals at the start of the pandemic, failing to control the spread of Covid in care homes or failing to get a track and trace system up and running, the UK’s Covid response has been beset by constant errors.
While Hancock has had some victories – like raising the UK’s testing capacity to a very high level – he ultimately has to bear much of the country’s poor response as its health secretary.
There has been constant media speculation this year that Hancock will get axed as health secretary in the near future, with reports in summer suggesting Downing Street was setting him up to be the government’s scapegoat for its Covid failures.


cityam--2020-12-22--British Chambers slam "constantly shifting goalposts" in desperate plea to PM

The British Chambers of Commerce have today warned the Prime Minister that businesses are “ on their knees ” due to new lockdown restrictions .
The body ’ s President , Baroness Ruby McGregor-Smith , says that the “ constantly shifting goalposts ” had left many businesses considering “ shutting up shop for good.
” In her open letter , she calls for the PM to offer far greater support to businesses , including relief on business rates as well as a more significant grant programme .
Read more : Time to tax supermarkets to save leisure businesses ?
“ @ @ @ @ @ @ @ to compensate for the sever , ongoing economic impact of the pandemic , ” she says .
“ Businesses feel let down by the Government , ” she continues .
A number of surveys have shown that business confidence is falling with the pandemic ’ s impact lengthening .
The move to Tier 4 restrictions in many of the country ’ s most prosperous areas has taken a sizable chunk out of leisure and hospitality businesses .
But McGregor-Smith warns that her latest survey shows “ the impact is increasingly felt away from @ @ @ @ @ @ @ hit by restrictions .
“ It is by no means only leisure and hospitality businesses that are in trouble.
” Britain ’ s economic uncertainty is heightened by the lack of clarity on the UK ’ s future relationship with the EU , with Brexit only 10 days away .

British Chambers slam “constantly shifting goalposts” in desperate plea to PM
(Photo by Peter Summers/Getty Images)
The British Chambers of Commerce have today warned the Prime Minister that businesses are “on their knees” due to new lockdown restrictions.
The body’s President, Baroness Ruby McGregor-Smith, says that the “constantly shifting goalposts” had left many businesses considering “shutting up shop for good.”
In her open letter, she calls for the PM to offer far greater support to businesses, including relief on business rates as well as a more significant grant programme.
Read more: Time to tax supermarkets to save leisure businesses?
“The current package is simply not enough to compensate for the sever, ongoing economic impact of the pandemic,” she says.
“Businesses feel let down by the Government,” she continues.
A number of surveys have shown that business confidence is falling with the pandemic’s impact lengthening.
The move to Tier 4 restrictions in many of the country’s most prosperous areas has taken a sizable chunk out of leisure and hospitality businesses.
But McGregor-Smith warns that her latest survey shows “the impact is increasingly felt away from the sectors which have been most obviously hit by restrictions.
“It is by no means only leisure and hospitality businesses that are in trouble.”
Britain’s economic uncertainty is heightened by the lack of clarity on the UK’s future relationship with the EU, with Brexit only 10 days away.


cityam--2020-12-22--MPs question government’s 2025 broadband target amid 5G concerns

MPs have questioned the government ’ s ability to meet its revised-down target for “ gigabit-capable ” broadband to be delivered to most of the country by 2025 , saying the industry faces serious challenges over such a short time-scale .
The Digital , Culture , Media and Sport Committee also said the rollout of superfast 5G internet risked creating more “ not-spots ” in rural regions .
And it said the decision to phase Huawei out of the 5G network risked raising costs and lengthening delays .
In 2019 , Prime Minister Boris Johnson promised to bring “ full @ @ @ @ @ @ @ the UK by 2025 .
This was later changed to “ gigabit-capable ” broadband , which is still fast but can be carried by 5G networks and copper cables .
However , in November ’ s spending and infrastructure review , the government watered down its commitment .
It said it would only reach 85 per cent of premises over the next five years .
The Digital , Culture , Media and Sport Committee of MPs today questioned whether even this target would be reached .
It noted that the coronavirus pandemic has @ @ @ @ @ @ @ Digital , Culture , Media & Sport ( DCMS ) must finalise and launch the contracts for delivering infrastructure to hard-to-reach properties as soon as possible .
“ The government ’ s decision to abandon its 2025 gigabit-capable broadband target… was a belated recognition that it was unrealistic and unachievable , underlining concerns we ’ d heard from industry , ” said DCMS Committee chair Julian Knight .
Read more : Poor broadband can knock £40k off average London home : study “ Valuable time has been lost , making meeting even the @ @ @ @ @ @ @ Committee – which scrutinises the DCMS – also questioned why only 25 per cent of the government ’ s pledged £5bn to support roll-out to the hardest-to-reach premises had been made available by 2025 .
On top of this , it raised concerns that many Britons in rural parts of the country could struggle to get 5G internet for years to come .
The government ’ s target to provide 5G to 35m people by 2027 is based on delivery to the majority of the population , rather than the majority of the @ @ @ @ @ @ @ risks repeating the same errors that led to mobile ‘ not-spots ’ with investors cherry-picking areas of high population and leaving people in remote rural areas without a hope , ” said Knight .
Read more : Virgin Media switches on gigabit broadband across London It added that legislation to ban the use of Huawei equipment is expected to result in a delay of two to three years of widespread 5G roll-out with costs of up to £2bn .
DCMS has been contacted for comment .

MPs question government’s 2025 broadband target amid 5G concerns
Boris Johnson made broadband a part of his 2019 election manifesto
MPs have questioned the government’s ability to meet its revised-down target for “gigabit-capable” broadband to be delivered to most of the country by 2025, saying the industry faces serious challenges over such a short time-scale.
The Digital, Culture, Media and Sport Committee also said the rollout of superfast 5G internet risked creating more “not-spots” in rural regions. And it said the decision to phase Huawei out of the 5G network risked raising costs and lengthening delays.
In 2019, Prime Minister Boris Johnson promised to bring “full fibre” internet to the whole of the UK by 2025. This was later changed to “gigabit-capable” broadband, which is still fast but can be carried by 5G networks and copper cables.
However, in November’s spending and infrastructure review, the government watered down its commitment. It said it would only reach 85 per cent of premises over the next five years.
The Digital, Culture, Media and Sport Committee of MPs today questioned whether even this target would be reached.
It noted that the coronavirus pandemic has been disruptive but said the Department for Digital, Culture, Media & Sport (DCMS) must finalise and launch the contracts for delivering infrastructure to hard-to-reach properties as soon as possible.
“The government’s decision to abandon its 2025 gigabit-capable broadband target… was a belated recognition that it was unrealistic and unachievable, underlining concerns we’d heard from industry,” said DCMS Committee chair Julian Knight.
“Valuable time has been lost, making meeting even the revised-down target a major challenge.”
The Committee – which scrutinises the DCMS – also questioned why only 25 per cent of the government’s pledged £5bn to support roll-out to the hardest-to-reach premises had been made available by 2025.
5G rollout risks ‘not-spots’
On top of this, it raised concerns that many Britons in rural parts of the country could struggle to get 5G internet for years to come.
The government’s target to provide 5G to 35m people by 2027 is based on delivery to the majority of the population, rather than the majority of the UK’s landmass.
This “risks repeating the same errors that led to mobile ‘not-spots’ with investors cherry-picking areas of high population and leaving people in remote rural areas without a hope,” said Knight.
It added that legislation to ban the use of Huawei equipment is expected to result in a delay of two to three years of widespread 5G roll-out with costs of up to £2bn.
DCMS has been contacted for comment.


cityam--2020-12-22--New figures: Retailers in "significant distress" rises by 24 per cent

Tens of thousands of retailers are now in significant financial distress as Tier restrictions take their toll .
Some 39,232 retailers are believed to be in serious trouble , an increase of 24 per cent on the same period in 2019 and an 11 per cent jump on Q3 this year .
Arcadia and Debenhams are amongst those who have already fallen this year .
Read more : All EU countries ban UK travellers amid fears of mutant Covid strain Despite the furlough scheme and various rate reliefs , the figures – compiled by insolvency firm Begbies Traynor – also @ @ @ @ @ @ @ in firms in the hospitality sector in danger of shutting up shop for good .
Today British Chambers of Commerce chief has called for far greater support for businesses facing difficulties as a result of lockdown restrictions .
Julie Palmer , a partner at Begbies Traynor , said it had been “ one of the toughest years ever experienced in the retail sector.
” “ Although there are increasing expectations that 2021 will bring more positivity , the effects of Covid-19 will continue to create a chill throughout the whole of the year @ @ @ @ @ @ @ are only seeing the tip of the iceberg for financial distress amongst businesses currently , ” she continued .
“ Both recent history and these figures show yet more high profile retail and hospitality insolvencies are probable as a combination of onerous debt and the structural changes brought about by the Coronavirus pandemic continues to take its toll .
”

New figures: Retailers in “significant distress” rises by 24 per cent
Ex-employees of retail giant Arcadia are seeking legal compensation after being made redundant.
Tens of thousands of retailers are now in significant financial distress as Tier restrictions take their toll.
Some 39,232 retailers are believed to be in serious trouble, an increase of 24 per cent on the same period in 2019 and an 11 per cent jump on Q3 this year.
Arcadia and Debenhams are amongst those who have already fallen this year.
Read more: All EU countries ban UK travellers amid fears of mutant Covid strain
Despite the furlough scheme and various rate reliefs, the figures – compiled by insolvency firm Begbies Traynor – also show a year-on-year 18 per cent increase in firms in the hospitality sector in danger of shutting up shop for good.
Today British Chambers of Commerce chief has called for far greater support for businesses facing difficulties as a result of lockdown restrictions.
Julie Palmer, a partner at Begbies Traynor, said it had been “one of the toughest years ever experienced in the retail sector.”
“Although there are increasing expectations that 2021 will bring more positivity, the effects of Covid-19 will continue to create a chill throughout the whole of the year and beyond, with it likely we are only seeing the tip of the iceberg for financial distress amongst businesses currently,” she continued.
“Both recent history and these figures show yet more high profile retail and hospitality insolvencies are probable as a combination of onerous debt and the structural changes brought about by the Coronavirus pandemic continues to take its toll.”


cityam--2020-12-21--Airlines agree to screen JFK-bound passengers from Britain for coronavirus

NEW YORK ( Reuters ) -British Airways , Delta Air Lines and Virgin Atlantic said on Monday they will allow only passengers who test negative for the coronavirus to fly to New York ’ s John F. Kennedy International Airport .
The decisions follow a request from New York Governor Andrew Cuomo that the airlines voluntarily agree to screen passengers on flights to Kennedy airport after the emergence of a highly infectious new coronavirus strain in Britain .
Dozens of countries , though not the United States , closed their borders to Britain on Monday , causing travel chaos .
@ @ @ @ @ @ @ airport through state agency the Port Authority of New York and New Jersey , has said the U.S. government should also stop flights from Britain , though he acknowledged that may come too late to prevent the spread of the new strain .
“ I believe intuitively it ’ s already here , ” he said , “ because if it ’ s been flying around the world , it ’ s been here.
” The White House coronavirus task force met on Monday to discuss the possibility of temporarily halting inbound passenger @ @ @ @ @ @ @ has not announced any decision .
British Airways , Delta and Virgin are expected to begin the screenings this week .
U.S. airlines have already drastically scaled back flying to the United Kingdom , as well as the rest of Europe : American Airlines , for example , currently operates just one U.S. daily flight to London out of Dallas .
United Airlines , which has issued a travel waiver for U.S. flights to Heathrow between Dec. 21 , 2020 , and Jan. 17 , is operating four daily flights to London in @ @ @ @ @ @ @ would cut those in half beginning in January .
Last winter it operated 20 daily flights to the UK .

Airlines agree to screen JFK-bound passengers from Britain for coronavirus
By Jonathan Allen, David Shepardson and Tracy Rucinski
NEW YORK (Reuters) -British Airways, Delta Air Lines and Virgin Atlantic said on Monday they will allow only passengers who test negative for the coronavirus to fly to New York’s John F. Kennedy International Airport.
The decisions follow a request from New York Governor Andrew Cuomo that the airlines voluntarily agree to screen passengers on flights to Kennedy airport after the emergence of a highly infectious new coronavirus strain in Britain.
Dozens of countries, though not the United States, closed their borders to Britain on Monday, causing travel chaos.
Cuomo, who shares oversight of the airport through state agency the Port Authority of New York and New Jersey, has said the U.S. government should also stop flights from Britain, though he acknowledged that may come too late to prevent the spread of the new strain.
“I believe intuitively it’s already here,” he said, “because if it’s been flying around the world, it’s been here.”
The White House coronavirus task force met on Monday to discuss the possibility of temporarily halting inbound passenger flights from the United Kingdom, but has not announced any decision.
British Airways, Delta and Virgin are expected to begin the screenings this week.
U.S. airlines have already drastically scaled back flying to the United Kingdom, as well as the rest of Europe: American Airlines, for example, currently operates just one U.S. daily flight to London out of Dallas.
United Airlines, which has issued a travel waiver for U.S. flights to Heathrow between Dec. 21, 2020, and Jan. 17, is operating four daily flights to London in December but said earlier this month it would cut those in half beginning in January. Last winter it operated 20 daily flights to the UK.
(Reporting by Jonathan Allen in New York, David Shepardson in Washington and Tracy Rucinski in Chicago; Writing by Jonathan AllenEditing by Angus MacSwan and Matthew Lewis)


cityam--2020-12-21--Joe Biden receives Pfizer's Covid-19 vaccine live on US television

President-Elect Joe Biden received the Covid-19 vaccine on US television tonight as the country ups its immunisation efforts .
A @ @ @ @ @ was injected in his left arm in a hospital in Delaware .
Experts had suggested @ @ @ @ @ vaccinated before his inauguration on January 20 .
“ The administration deserves credit for getting @ @ @ @ @ ” said Biden .
Read more : US legislators to vote on huge stimulus package @ @ @ @ @ m doing this to demonstrate that people should be prepared when it ’ s available @ @ @ @ @ ” he continued .
President Trump has not made plans to receive the vaccine publicly @ @ @ @ @ Mike Pence was injected last week .
Biden ’ s vaccination comes as US legislators @ @ @ @ @ $ 900bn stimulus bill , including direct financial grants to Americans earning less than $ @ @ @ @ @ as well as a huge small business loans programme .
The deal needs to be @ @ @ @ @ in Washington ( 5am GMT ) before an emergency funding settlement expires .

Joe Biden receives Pfizer’s Covid-19 vaccine live on US television
(Photo by Joshua Roberts/Getty Images)
President-Elect Joe Biden received the Covid-19 vaccine on US television tonight as the country ups its immunisation efforts.
A masked Biden, 78, was injected in his left arm in a hospital in Delaware.
Experts had suggested that the President-Elect was fully vaccinated before his inauguration on January 20.
“The administration deserves credit for getting this off the ground,” said Biden.
Read more: US legislators to vote on huge stimulus package Monday night
“I’m doing this to demonstrate that people should be prepared when it’s available to take the vaccine,” he continued.
President Trump has not made plans to receive the vaccine publicly, though his Vice President Mike Pence was injected last week.
Biden’s vaccination comes as US legislators look set to back a $900bn stimulus bill, including direct financial grants to Americans earning less than $75,000 (around £55,000) as well as a huge small business loans programme.
The deal needs to be voted on by midnight tonight in Washington (5am GMT) before an emergency funding settlement expires.


cityam--2020-12-21--Aon's $30 billion Willis Towers deal in EU antitrust crosshairs

Aon ’ s $ 30 billion bid for Willis Towers Watson to create the world ’ s largest insurance broker faces a five-month long investigation after EU antitrust regulators voiced concerns that the deal may hurt competition in key markets.The merger of the world ’ s second and third largest brokers would overtake world No .
1 Marsh & McLennan Companies Inc .
The deal came just as financial markets were sliding as a result of the COVID-19 crisis .
UK travellers banned from ALL EU countries The pandemic has triggered a sharp rise in claims for insurers , on @ @ @ @ @ @ @ change , and hit their investment portfolios.Falling valuations and companies looking to shore up business models have in turn sparked a run of deals across the insurance industry.Aon said it was confident of securing EU approval without having to sell any assets to allay competition concerns and that it was on track to close the deal in the first half of 2021.The European Commission said the deal could significantly reduce competition in markets for commercial risk brokerage services , re-insurance brokerage and provision of retirement and health & welfare services to commercial customers.It @ @ @ @ @ @ @ in property and casualty , financial and professional , credit and political risk , cyber and marine as well as customers in the space and aerospace manufacturing industry as the most affected.The EU investigation will also examine the provision of reinsurance brokerage services and the provision of retirement and health & welfare services .
The EU competition enforcer set a May 10 date for its decision.Reuters had reported on Dec. 15 that the EU competition enforcer would open an in-depth investigation into the deal after Aon declined to offer concessions to address EU @ @ @ @ @ @ @ Yun Chee .
Editing by Jane Merriman )

Aon’s $30 billion Willis Towers deal in EU antitrust crosshairs
Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker faces a five-month long investigation after EU antitrust regulators voiced concerns that the deal may hurt competition in key markets.
The merger of the world’s second and third largest brokers would overtake world No. 1 Marsh & McLennan Companies Inc. The deal came just as financial markets were sliding as a result of the COVID-19 crisis.
Read more: UK travellers banned from ALL EU countries
The pandemic has triggered a sharp rise in claims for insurers, on top of other challenges such as climate change, and hit their investment portfolios.
Falling valuations and companies looking to shore up business models have in turn sparked a run of deals across the insurance industry.
Aon said it was confident of securing EU approval without having to sell any assets to allay competition concerns and that it was on track to close the deal in the first half of 2021.
The European Commission said the deal could significantly reduce competition in markets for commercial risk brokerage services, re-insurance brokerage and provision of retirement and health & welfare services to commercial customers.
It cited brokerage services to large multi-national customers in property and casualty, financial and professional, credit and political risk, cyber and marine as well as customers in the space and aerospace manufacturing industry as the most affected.
The EU investigation will also examine the provision of reinsurance brokerage services and the provision of retirement and health & welfare services. The EU competition enforcer set a May 10 date for its decision.
Reuters had reported on Dec. 15 that the EU competition enforcer would open an in-depth investigation into the deal after Aon declined to offer concessions to address EU competition concerns.
(Reporting by Foo Yun Chee. Editing by Jane Merriman)


cityam--2020-12-21--Our ultimate guide to last-minute Christmas spirits, including our whiskies of the year

Christmas may be ruined , but things always look better through the bottom of a bottle .
If you were planning on stocking up on last-minute gifts before the big day , you may have to rethink .
But the silver lining of this new lockdown means you can claw back a few days to pick up the ideal present for your loved ones , ready to hand over when you can finaly see each other face-to-face once more .
Our eclectic list of seasonal suggestions includes something to suit every taste , from the best whisky to the finest @ @ @ @ @ @ @ D owner : Tax supermarkets to bail out bars and restaurants If you ’ d like to read about the process behind creating your favourite dram as you swill it around your back teeth , we wholeheartedly recommend The Art in Whisky , a “ visual journey ” through the crafting process from grain to bottle to glass .
This sumptuous tome guides you through both old and new world whisky , from Bushmills in Ireland to Bowmore in Scotland , and further afield to Kavalan and Nikka in Taiwan and Japan .
@ @ @ @ @ @ @ is the ultimate guide to the ultimate spirit and should be on the shelf – or in the stocking – of every self-respecting whisk ( e ) y connoisseur .
This Aultmore single malt is an independent bottling ; part of Elixir Distiller ’ s Single Malts of Scotland Reserve Cask series , which presents accessibly priced “ parcels ” of small batch whiskies .
The fourth parcel includes spirits from Linkwood and a third , unnamed Speyside distillery , as well as an Orcadian offering .
The Aultmore has a light colour @ @ @ @ @ @ @ aroma and an initial taste of sweet orchard fruits and cream , which gives way to white pepper and resolves into hazel nuts .
It is an unexpected journey in a glass .
The Bruichladdich distillery ’ s ethos and commitment to transparency were made more explicit this year , with the launch of its ambitious and multifaceted “ No Hidden Measures ” campaign , which is intended to educate drinkers about the factors influencing flavour , the provenance of ingredients , the recipes of specific vattings , and the laws governing what @ @ @ @ @ @ @ with Scottish barley , the Classic Laddie is the distillery ’ s signature bottling .
It has the characteristic peaty smoke of an Islay whisky , but understated ( especially compared to some of its stablemates ) , and while the bottle does not carry an age statement , inquiring minds can check the distillery ’ s website for the youngest component in a particular batch .
There is some variation between vattings , but fruity , floral flavours are prominent , with rich vanilla and underlying salinity : Dalmore only produced 100 @ @ @ @ @ @ @ Aged in ex-bourbon casks and finished in luxurious Premier Grand Cru Bordeaux wine barriques , it is one of a pair of cask strength bottlings available exclusively from Harrods , ( the other , larger batch is a 2006 vintage with a Marsala cask finish , which is also delightful but more accessibly priced at £200 ) .
Naturally coloured and attractively presented , this is a whisky that makes a statement , with an initial scent of banana bread and figs , and orange and vanilla on the tongue , it finishes @ @ @ @ @ @ @ .
The GlenDronach distillery ’ s Cask Bottling collection is a showcase for some of their finest single malts , and this whisky is one of the jewels of the eighteenth and most recent batch .
Master Blender Rachel Barrie has selected 18 exemplary casks , from 1990 to 2009 , with recommended prices ranging from £97 to £861 , depending on age and scarcity .
The 1992 Oloroso Puncheon Cask is dark with sweet rich plum which begins on the nose and carries through to the palate , weaving in cherries , @ @ @ @ @ @ @ A beautiful drink that evokes the tastes of Christmas : From the Northern Isles of Scotland , only 585 bottles of this dusky and deeply rewarding single malt were produced , exclusively for the Whisky Exchange .
Fans of heavily sherried whiskies will be blown away as scents of barmbrack and a hint of pine explode on the palate with an intensity of sweet dried fruits , and a light smokiness .
The finish is satisfyingly lengthy , softening into baked apples , caramel , and spice .
This is an utterly enjoyable @ @ @ @ @ @ @ to celebrate the association between the Macallan distillery , and the River Spey , a stretch of which passes through its estate .
Aged in American and European oak casks – which had been seasoned with sherry for a complex and multilayered whisky – it went on sale through specialist retailers at the end of September .
However , you would be hard-pressed to find it in the primary market now .
The value of bottles in the secondary market has more than tripled in less than three months , to around £300 @ @ @ @ @ @ @ as an investment ) .
If you can get your hands on a bottle , you will be rewarded with a drink that marries rounded fruits with nutmeg and prickling ginger , vanilla with toffee , and chocolate with plums ; an excellent example of a Macallan , and one with hidden depths that invites you to take another sip .
The Mortlach distillery has a well-deserved cult following .
Dubbed “ the Beast of Dufftown ” by Dave Broom , Mortlach ’ s robust and muscular whisky is often characterised as “ @ @ @ @ @ @ @ is the peculiar set-up of stills and a late-Victorian “ 2.81 distillation ” process that allows them to produce three very different new-make spirits in-house , which can then be combined in different proportions to create deep , provocative whiskies .
In this sherry-finished special release savoury aromas of dark dried fruits lead into a smooth , intense taste of rich fruit and cured ham or dry-rubbed barbecue , and a lengthy finish which which draws together the sweet and savoury notes .
Master Blender Craig Wilson describes it as “ the Beast @ @ @ @ @ @ @ any lover of big , bold malts should be eager to investigate further .
Royal Lochnagar is a tiny distillery , and most of its output is used as components in blended scotch whiskies , such as Johnny Walker Black and Blue labels .
But , to celebrate its 175th anniversary it has released this rare , and highly collectable , mid-aged single malt .
The original distillery , founded in 1826 , was burnt down in suspicious circumstances fifteen years later .
It reopened on its current site in 1845 .
The @ @ @ @ @ @ @ Estate lead to a visit from Queen Victoria in 1848 , and a royal warrant soon followed .
Aged in a combination European oak sherry casks , and bottled at cask strength , the 17-year-old is an exceptional highland single malt , which melds local flavours of bracken and bramble with surprising tropical notes of melon and mango .
A whisky with crossover appeal , it should be as warmly received by lovers of fine whisky , ardent monarchists , or fans of Netflix ’ s mega-hit The Crown : £250 , thewhiskyexchange.com @ @ @ @ @ @ @ Robinson and the Singleton of Glen Ord Distillery .
After 12 years in American oak , this whisky underwent a 26-year secondary maturation – the longest in The Singleton ’ s history – using an unusual assortment of casks including bourbon , Pedro Ximénez , Oloroso , and first-fill , green American oak casks .
This spirit is a tangible legacy of the experimentation which was taking place in the industry in the ’ 90s , and specifically the need to discover what would be the effect of re-resting the Singleton for an @ @ @ @ @ @ @ after the whisky was originally distilled , we have an answer , in the form of a wonderfully warming , autumnal embrace .
It is baked apple , sultanas , and crème caramel .
Its pepper will stipple your lips and its gentle alcoholic heat will bloom through your chest .
Only 1,689 bottles were released globally , so if you want to taste this piece of history , you can not afford to hesitate .
The Talisker 25 year old captures the windswept beauty of the Isle of Skye .
This exquisitely @ @ @ @ @ @ @ briney hints of sea mist that typify the distillery , accompanied by well-measured minerality , smokiness , sweet caramel , and intimations of lychee .
Even the youngest spirits in this bottling have spent a quarter of a century in American bourbon and Spanish sherry casks , but oakiness takes a back seat to vanilla and raisins .
This is sure to become a favourite for drinkers who appreciate a more playful and mischievous smoky island single malt : £294.99 , malts.com This was intended to be a list of Scottish single malts @ @ @ @ @ @ @ release swaggered in with such confidence that it could not be denied a place .
Based in Washington State , Westland is a pioneering producer of American single malt whiskey .
Co-founder and Master Distiller Matt Hoffman ’ s background in beer-making is recognisable in Westland ’ s whiskies , and helped him realise that putting great-tasting liquid into a still can only improve the final product .
So for instance , the inclusion of chocolate malt in the mash bill ( more typically used to make hearty , dark porters ) carries @ @ @ @ @ @ @ the finished spirits .
And while the flagship American Oak Single Malt splendidly showcases Westland ’ s respect for the Scottish tradition , innovation , and a dedication to locally sourced ingredients and materials , the Garryana whiskey takes thing even further , by using barrels made from Garry oak .
This tree , which is native and unique to the Pacific Northwest , has an alchemical effect , super-charging spirits with flavours of rich vanilla , cloves , and almost artificial fruits .
Westland ’ s Garryana whiskey is gustatory adventure .
@ @ @ @ @ @ @ has become an annual tradition for the Whisky Exchange ; their Fine Christmas Malt .
Unlike last year ’ s offering this is a blended malt scotch , but it still earns a place on this list , not only because Christmas is a time when rules are suspended , but because this offering so perfectly captures the spirit of seasonal excess .
Deliberately loaded with “ Christmassy ” scents and flavours , this is a rum-soaked fruit cake , full of cinnamon , sultanas , and candied peel .
The label includes @ @ @ @ @ @ @ Christmas , but while oozing with the obligatory schmaltz , this year ’ s poem achieves genuine pathos , by acknowledging the social isolation that 2020 has imposed on us all .
Here ’ s hoping that we will soon be drinking with friends and family again , in 2021 .
Moving away from the classic Christmas single malt , there ’ s a movement among mixologists and spirits enthusiasts towards whisky ’ s American cousin , bourbon .
One of our favourite bottles is Buffalo Trace , distilled on the banks of @ @ @ @ @ @ @ years .
A rich , complex whiskey with hints of vanilla , toffee and candied fruit , this is a wonderful drink served neat or on ice , or mixed in a festive cocktail .
Another excellent American spirit , Sazerac Rye is a rye whiskey rather than a bourbon , giving it a more savoury taste compared to the corn-based bourbon ’ s trademark caramel .
Sazerac Rye is a “ spicy and assertive spirit ” made in New Orleans and is the key ingredient in the so-called “ first American cocktail @ @ @ @ @ @ @ legend , the cocktail was created at the Sazerac Coffee House on Royal Street where some ingenious proto-mixologist mixed rye whiskey and Peychaud ’ s bitters .
Sazerac Rye has tasting notes of candies , spice and citrus , with a hint of licorice to finish .
If you ’ re in the market for something a little different , Lost Years is a new range of luxury rums with the novel aim of saving endangered sea turtles .
Every bottle generates a donation to sea turtle charities through not-for-profit organisation SEE Turtles @ @ @ @ @ @ @ from family-owned rum house Cane & Able , is delivered in plastic-free packaging .
It ’ s a beguilingly sweet spirit that ’ s best sipped over ice but also forms a solid base for your favourite rum-based cocktails , should you crave an unseasonal mojito on this most unusual of winters .
The world ’ s most famous cognac needs no introduction .
If you have a sophisticated drinker to take care of over the festive period , you can ’ t go wrong with a bottle of France ’ s finest @ @ @ @ @ @ @ sits between the distiller ’ s VSOP and XO bottles .
It ’ s a smooth cognac with subtle toffee notes – perfect for toasting the Queen ’ s speech .

Our ultimate guide to last-minute Christmas spirits, including our whiskies of the year
The Art in Whisky – the ultimate guide for connoisseurs
Christmas may be ruined, but things always look better through the bottom of a bottle. If you were planning on stocking up on last-minute gifts before the big day, you may have to rethink. But the silver lining of this new lockdown means you can claw back a few days to pick up the ideal present for your loved ones, ready to hand over when you can finaly see each other face-to-face once more. Our eclectic list of seasonal suggestions includes something to suit every taste, from the best whisky to the finest rum.
The Art in Whisky
If you’d like to read about the process behind creating your favourite dram as you swill it around your back teeth, we wholeheartedly recommend The Art in Whisky, a “visual journey” through the crafting process from grain to bottle to glass. This sumptuous tome guides you through both old and new world whisky, from Bushmills in Ireland to Bowmore in Scotland, and further afield to Kavalan and Nikka in Taiwan and Japan.
Limited to 1,000 hand-numbered copies, this is the ultimate guide to the ultimate spirit and should be on the shelf – or in the stocking – of every self-respecting whisk(e)y connoisseur.
£450, artinwhisky.com
Aultmore 9 Year Old Reserve Cask – Parcel No. 4
This Aultmore single malt is an independent bottling; part of Elixir Distiller’s Single Malts of Scotland Reserve Cask series, which presents accessibly priced “parcels” of small batch whiskies. The fourth parcel includes spirits from Linkwood and a third, unnamed Speyside distillery, as well as an Orcadian offering.
The Aultmore has a light colour, complimented by a nutty, biscuity aroma and an initial taste of sweet orchard fruits and cream, which gives way to white pepper and resolves into hazel nuts. It is an unexpected journey in a glass.
£52.95, thewhiskyexchange.com
Bruichladdich The Classic Laddie
The Bruichladdich distillery’s ethos and commitment to transparency were made more explicit this year, with the launch of its ambitious and multifaceted “No Hidden Measures” campaign, which is intended to educate drinkers about the factors influencing flavour, the provenance of ingredients, the recipes of specific vattings, and the laws governing what information can be disclosed.
Made exclusively with Scottish barley, the Classic Laddie is the distillery’s signature bottling. It has the characteristic peaty smoke of an Islay whisky, but understated (especially compared to some of its stablemates), and while the bottle does not carry an age statement, inquiring minds can check the distillery’s website for the youngest component in a particular batch. There is some variation between vattings, but fruity, floral flavours are prominent, with rich vanilla and underlying salinity:
£42.90, The Whisky World
The Dalmore Distillery Exclusive 2003 Vintage Highland Single Malt
Dalmore only produced 100 bottles of this 2003 single malt. Aged in ex-bourbon casks and finished in luxurious Premier Grand Cru Bordeaux wine barriques, it is one of a pair of cask strength bottlings available exclusively from Harrods, (the other, larger batch is a 2006 vintage with a Marsala cask finish, which is also delightful but more accessibly priced at £200). Naturally coloured and attractively presented, this is a whisky that makes a statement, with an initial scent of banana bread and figs, and orange and vanilla on the tongue, it finishes with hints of coffee and red fruits.
£1,500 harrods.com
GlenDronach Cask Bottling 1992 27 Year Old Oloroso Sherry Puncheon Cask
The GlenDronach distillery’s Cask Bottling collection is a showcase for some of their finest single malts, and this whisky is one of the jewels of the eighteenth and most recent batch. Master Blender Rachel Barrie has selected 18 exemplary casks, from 1990 to 2009, with recommended prices ranging from £97 to £861, depending on age and scarcity. The 1992 Oloroso Puncheon Cask is dark with sweet rich plum which begins on the nose and carries through to the palate, weaving in cherries, chocolate and hints of mulled wine. A beautiful drink that evokes the tastes of Christmas:
£524.95, royalmilewhiskies.com
Highland Park 2003 16 Year Old Sherry Butt
From the Northern Isles of Scotland, only 585 bottles of this dusky and deeply rewarding single malt were produced, exclusively for the Whisky Exchange. Fans of heavily sherried whiskies will be blown away as scents of barmbrack and a hint of pine explode on the palate with an intensity of sweet dried fruits, and a light smokiness. The finish is satisfyingly lengthy, softening into baked apples, caramel, and spice. This is an utterly enjoyable winter treat.
£199, thewhiskyexchange.com
The Macallan Edition No. 6
This whisky was crafted to celebrate the association between the Macallan distillery, and the River Spey, a stretch of which passes through its estate. Aged in American and European oak casks – which had been seasoned with sherry for a complex and multilayered whisky – it went on sale through specialist retailers at the end of September. However, you would be hard-pressed to find it in the primary market now. The value of bottles in the secondary market has more than tripled in less than three months, to around £300, (demonstrating the potential of whiskies as an investment). If you can get your hands on a bottle, you will be rewarded with a drink that marries rounded fruits with nutmeg and prickling ginger, vanilla with toffee, and chocolate with plums; an excellent example of a Macallan, and one with hidden depths that invites you to take another sip.
£95, oldandrarewhisky.co.uk
Mortlach 21 Year Old 2020 Special Release
The Mortlach distillery has a well-deserved cult following. Dubbed “the Beast of Dufftown” by Dave Broom, Mortlach’s robust and muscular whisky is often characterised as “meaty”. One reason for this is the peculiar set-up of stills and a late-Victorian “2.81 distillation” process that allows them to produce three very different new-make spirits in-house, which can then be combined in different proportions to create deep, provocative whiskies.
In this sherry-finished special release savoury aromas of dark dried fruits lead into a smooth, intense taste of rich fruit and cured ham or dry-rubbed barbecue, and a lengthy finish which which draws together the sweet and savoury notes. Master Blender Craig Wilson describes it as “the Beast, tamed”, a prospect that any lover of big, bold malts should be eager to investigate further.
£575, malts.com
Royal Lochnagar 175th Anniversary 17 Year Old
Royal Lochnagar is a tiny distillery, and most of its output is used as components in blended scotch whiskies, such as Johnny Walker Black and Blue labels. But, to celebrate its 175th anniversary it has released this rare, and highly collectable, mid-aged single malt. The original distillery, founded in 1826, was burnt down in suspicious circumstances fifteen years later.
It reopened on its current site in 1845. The new location, close to the Balmoral Estate lead to a visit from Queen Victoria in 1848, and a royal warrant soon followed. Aged in a combination European oak sherry casks, and bottled at cask strength, the 17-year-old is an exceptional highland single malt, which melds local flavours of bracken and bramble with surprising tropical notes of melon and mango.
A whisky with crossover appeal, it should be as warmly received by lovers of fine whisky, ardent monarchists, or fans of Netflix’s mega-hit The Crown: £250, thewhiskyexchange.com
The Singleton 38 Year Old
This is something very special from Maureen Robinson and the Singleton of Glen Ord Distillery. After 12 years in American oak, this whisky underwent a 26-year secondary maturation – the longest in The Singleton’s history – using an unusual assortment of casks including bourbon, Pedro Ximénez, Oloroso, and first-fill, green American oak casks.
This spirit is a tangible legacy of the experimentation which was taking place in the industry in the ’90s, and specifically the need to discover what would be the effect of re-resting the Singleton for an extended period. Now, 38 years after the whisky was originally distilled, we have an answer, in the form of a wonderfully warming, autumnal embrace.
It is baked apple, sultanas, and crème caramel. Its pepper will stipple your lips and its gentle alcoholic heat will bloom through your chest. Only 1,689 bottles were released globally, so if you want to taste this piece of history, you cannot afford to hesitate.
£2,100, masterofmalt.com
Talisker 25 Year Old
The Talisker 25 year old captures the windswept beauty of the Isle of Skye. This exquisitely structured whisky has the white pepper and briney hints of sea mist that typify the distillery, accompanied by well-measured minerality, smokiness, sweet caramel, and intimations of lychee.
Even the youngest spirits in this bottling have spent a quarter of a century in American bourbon and Spanish sherry casks, but oakiness takes a back seat to vanilla and raisins. This is sure to become a favourite for drinkers who appreciate a more playful and mischievous smoky island single malt: £294.99, malts.com
Westland Garryana 2020 Release
This was intended to be a list of Scottish single malts, but Westland’s 2020 Garryana release swaggered in with such confidence that it could not be denied a place. Based in Washington State, Westland is a pioneering producer of American single malt whiskey.
Co-founder and Master Distiller Matt Hoffman’s background in beer-making is recognisable in Westland’s whiskies, and helped him realise that putting great-tasting liquid into a still can only improve the final product. So for instance, the inclusion of chocolate malt in the mash bill (more typically used to make hearty, dark porters) carries over into notes of vanilla-chocolate pudding in the finished spirits.
And while the flagship American Oak Single Malt splendidly showcases Westland’s respect for the Scottish tradition, innovation, and a dedication to locally sourced ingredients and materials, the Garryana whiskey takes thing even further, by using barrels made from Garry oak. This tree, which is native and unique to the Pacific Northwest, has an alchemical effect, super-charging spirits with flavours of rich vanilla, cloves, and almost artificial fruits. Westland’s Garryana whiskey is gustatory adventure.
£165, thewhiskyexchange.com
A Fine Christmas Malt 2020 19 Year Old
This is the third instalment of what has become an annual tradition for the Whisky Exchange; their Fine Christmas Malt. Unlike last year’s offering this is a blended malt scotch, but it still earns a place on this list, not only because Christmas is a time when rules are suspended, but because this offering so perfectly captures the spirit of seasonal excess.
Deliberately loaded with “Christmassy” scents and flavours, this is a rum-soaked fruit cake, full of cinnamon, sultanas, and candied peel. The label includes the now-expected pastiche of The Night Before Christmas, but while oozing with the obligatory schmaltz, this year’s poem achieves genuine pathos, by acknowledging the social isolation that 2020 has imposed on us all.
Here’s hoping that we will soon be drinking with friends and family again, in 2021.
£74.95, thewhiskyexchange.com
Buffalo Trace
Moving away from the classic Christmas single malt, there’s a movement among mixologists and spirits enthusiasts towards whisky’s American cousin, bourbon. One of our favourite bottles is Buffalo Trace, distilled on the banks of the Kentucky River for more than 200 years. A rich, complex whiskey with hints of vanilla, toffee and candied fruit, this is a wonderful drink served neat or on ice, or mixed in a festive cocktail.
£24.95, thewhiskeyexchange.com
Sazerac Rye
Another excellent American spirit, Sazerac Rye is a rye whiskey rather than a bourbon, giving it a more savoury taste compared to the corn-based bourbon’s trademark caramel. Sazerac Rye is a “spicy and assertive spirit” made in New Orleans and is the key ingredient in the so-called “first American cocktail”, The Sazerac. According to legend, the cocktail was created at the Sazerac Coffee House on Royal Street where some ingenious proto-mixologist mixed rye whiskey and Peychaud’s bitters. Sazerac Rye has tasting notes of candies, spice and citrus, with a hint of licorice to finish.
£30.95, houseofmalt.co.uk
Lost Years Four Island Rum
If you’re in the market for something a little different, Lost Years is a new range of luxury rums with the novel aim of saving endangered sea turtles. Every bottle generates a donation to sea turtle charities through not-for-profit organisation SEE Turtles. Lost Years, the debut brand from family-owned rum house Cane & Able, is delivered in plastic-free packaging. It’s a beguilingly sweet spirit that’s best sipped over ice but also forms a solid base for your favourite rum-based cocktails, should you crave an unseasonal mojito on this most unusual of winters.
£37.95, lostyearsrum.com
Remy Martin 1738
The world’s most famous cognac needs no introduction. If you have a sophisticated drinker to take care of over the festive period, you can’t go wrong with a bottle of France’s finest. Remy Martin 1738 Accord Royal Cognac sits between the distiller’s VSOP and XO bottles. It’s a smooth cognac with subtle toffee notes – perfect for toasting the Queen’s speech.
£42.45, thewhiskyexchange.com


cityam--2020-12-21--Congress in race against time to finalise $900bn US stimulus deal late tonight

A stimulus deal for the US economy , including direct cheques of $ 600 to many Americans , is set to be voted on tonight in Washington .
Bipartisan agreement was finally found over the weekend on the deal , which has been the subject of tortuous negotiation and delay over recent weeks .
The deal must be signed by midnight tonight , leaving legislators rushing to draft the wording of the agreement before the deadline .
Read more : US approves Moderna vaccine for use across the country The deal will offer direct support to Americans earning less than @ @ @ @ @ @ @ $ 69bn package towards the distribution of Covid-19 vaccines .
The small business loan scheme , the Paycheck Protection Program , will also be restarted with $ 284bn of new capital to give small businesses a greater safety net .
It has also been reported that the stimulus deal includes a change to the tax deductible status of business lunches , a move President Trump had advocated for .
The deal will also require President Trump ’ s signature .
President-elect Joe Biden said he was “ optimistic that we can meet this @ @ @ @ @ @ @ to increase in a number of US states , with fears of hospitals being overloaded during cold winter weather across much of the north and east of the country .

Congress in race against time to finalise $900bn US stimulus deal late tonight
(Photo by Samuel Corum/Getty Images)
A stimulus deal for the US economy, including direct cheques of $600 to many Americans, is set to be voted on tonight in Washington.
Bipartisan agreement was finally found over the weekend on the deal, which has been the subject of tortuous negotiation and delay over recent weeks.
The deal must be signed by midnight tonight, leaving legislators rushing to draft the wording of the agreement before the deadline.
Read more: US approves Moderna vaccine for use across the country
The deal will offer direct support to Americans earning less than $75,000, in addition to a $69bn package towards the distribution of Covid-19 vaccines.
The small business loan scheme, the Paycheck Protection Program, will also be restarted with $284bn of new capital to give small businesses a greater safety net.
It has also been reported that the stimulus deal includes a change to the tax deductible status of business lunches, a move President Trump had advocated for.
The deal will also require President Trump’s signature.
President-elect Joe Biden said he was “optimistic that we can meet this moment, together.”
Covid-19 cases continue to increase in a number of US states, with fears of hospitals being overloaded during cold winter weather across much of the north and east of the country.


cityam--2020-12-21--New: PM criticises border closure and is "working" to a solution

The Prime Minister has criticised the French government ’ s decision to block freight from the UK , saying the risk of truck drivers transmitting the new mutant strain of Covid-19 is “ very low.
” He said he was “ working to a solution ” and had spoken to French President Emmanuel Macron .
Read more : All EU countries ban UK travellers until midnight tomorrow The Government has confirmed that it has opened up a number of reserve car parks , including Manston Airport , to reduce congestion across Kent .
The PM later confirmed he was looking @ @ @ @ @ @ @ few hours.
” Dover has been effectively shut all day , putting serious pressure on just-in-time supply chains .
Boris Johnson said the risk from a “ solitary driver sitting alone in the cab are really very low.
” The disruption has been particularly damaging as many firms had been stockpiling ahead of a no-deal Brexit .
The mutant strain first emerged in London and the South East and is believed to be up to 70 more transmittable than the ‘ original ’ strain .
A number of EU countries have banned UK @ @ @ @ @ @ @ crossing the border in an effort to suppress the new form of Covid-19 .

New: PM criticises border closure and is “working” to a solution
(Photo by Toby Melville – WPA Pool / Getty Images)
The Prime Minister has criticised the French government’s decision to block freight from the UK, saying the risk of truck drivers transmitting the new mutant strain of Covid-19 is “very low.”
He said he was “working to a solution” and had spoken to French President Emmanuel Macron.
Read more: All EU countries ban UK travellers until midnight tomorrow
The Government has confirmed that it has opened up a number of reserve car parks, including Manston Airport, to reduce congestion across Kent.
The PM later confirmed he was looking to resolve these issues “in next few hours.”
Dover has been effectively shut all day, putting serious pressure on just-in-time supply chains.
Boris Johnson said the risk from a “solitary driver sitting alone in the cab are really very low.”
The disruption has been particularly damaging as many firms had been stockpiling ahead of a no-deal Brexit.
The mutant strain first emerged in London and the South East and is believed to be up to 70 more transmittable than the ‘original’ strain.
A number of EU countries have banned UK travellers, and freight drivers, from crossing the border in an effort to suppress the new form of Covid-19.


cityam--2020-12-21--UK records 33,364 new coronavirus cases amid fears over new strain

The UK recorded 33,364 new cases of coronavirus on Monday as markets panicked and countries blocked travel from Britain over fears of a new strain of Covid .
The figure was lower than the 35,928 cases recorded on Sunday , which was the highest total seen during the Covid pandemic .
But it was up from 20,263 cases last Monday .
Read more : New : All EU countries ban UK travellers for 48 hours amid mutant strain scare Official figures showed that 215 people died within 28 days of testing positive with coronavirus , down from 326 yesterday and @ @ @ @ @ @ @ 3,215 people have died within 28 days of testing positive over the last seven days .
That is up 7.7 per cent compared to the previous week .
The government is struggling to control coronavirus cases in the UK , prompting it to toughen restrictions on Saturday .
London and parts of the south and south east are now under a new Tier 4 lockdown .
It means non-essential shops , pubs , restaurants and gyms – among other businesses – must close .
People in Tier 4 are not allowed to spend @ @ @ @ @ @ @ zone , while the rules have been tightened for the rest of the country .
Read more : Retailers feel Tier 4 pain as footfall drops 40 per cent Prime Minister Boris Johnson said a new , more infectious strain of coronavirus was a major problem .
Worries over new cases of the coronavirus strain have today caused major disruption in the UK .
France has banned British freight and travel , leading to huge queues in Kent .
Read more : Global markets slump amid fears of mutant virus and UK border @ @ @ @ @ @ @ travellers to the Continent and Ireland until midnight tomorrow .
Markets have been spooked , with the FTSE 100 and US and European stocks deep in negative territory .
Johnson is due to give a press conference at 5pm to discuss the travel chaos and virus .

UK records 33,364 new coronavirus cases amid fears over new strain
(Photo by Peter Summers/Getty Images)
The UK recorded 33,364 new cases of coronavirus on Monday as markets panicked and countries blocked travel from Britain over fears of a new strain of Covid.
The figure was lower than the 35,928 cases recorded on Sunday, which was the highest total seen during the Covid pandemic. But it was up from 20,263 cases last Monday.
Official figures showed that 215 people died within 28 days of testing positive with coronavirus, down from 326 yesterday and 232 a week ago.
Nonetheless, 3,215 people have died within 28 days of testing positive over the last seven days. That is up 7.7 per cent compared to the previous week.
The government is struggling to control coronavirus cases in the UK, prompting it to toughen restrictions on Saturday.
New coronavirus strain drives lockdown
London and parts of the south and south east are now under a new Tier 4 lockdown. It means non-essential shops, pubs, restaurants and gyms – among other businesses – must close.
People in Tier 4 are not allowed to spend Christmas with other households or leave the zone, while the rules have been tightened for the rest of the country.
Prime Minister Boris Johnson said a new, more infectious strain of coronavirus was a major problem.
Worries over new cases of the coronavirus strain have today caused major disruption in the UK. France has banned British freight and travel, leading to huge queues in Kent.
The EU has banned all British travellers to the Continent and Ireland until midnight tomorrow. Markets have been spooked, with the FTSE 100 and US and European stocks deep in negative territory.
Johnson is due to give a press conference at 5pm to discuss the travel chaos and virus.


cityam--2020-12-22--Royal Mail settles industrial dispute over pay and operational changes

Royal Mail has reached an agreement with its largest union , the Communication Workers Union after a two year dispute over strategy and pay .
“ Royal Mail and CWU have committed to rebalance our focus and resources from the declining letters to the rapidly growing parcels marketing , creating a more efficient business that is better aligned to the changing needs of customers , ” the FTSE 250 firm said in a statement .
Read more : Amazon circles Post Office as it loosens ties with Royal Mail The CWU separately said that they had jointly agreed to a @ @ @ @ @ @ @ taking under previous senior management .
This “ without doubt would have led to parcel growth being pursued through separate structures , whilst leaving Royal Mail to wither on the vine.
” As part of plans the two parties will maximise parcel capacity and develop a 24/7 operation with the introduction of Sunday deliveries , initially on a voluntary basis .
“ We have been far too slow to adapt in the past and now need to deliver change much more quickly , ” Royal Mail ’ s interim executive chairman Keith Williams @ @ @ @ @ @ @ difficult period for Royal Mail , which is predicting a loss of between £400m and £800m this year , and 10,000 to 14,000 job losses over the next three years .
Despite this the mail operator announced it had agreed a 2.7 per cent pay increase for employees , backdated to April 2020 , and a further pay increase of one per cent from April 2021 .
Read more : Royal Mail awarded contract to deliver and collect Covid-19 home testing kits In a trading update also published today , Royal Mail announced @ @ @ @ @ @ @ October and November driven by ecommerce activity amid the November lockdown .
Revenues in the eight months to November was £380m higher compared to the same period last year .
Shares are up 1.5 per cent .

Royal Mail settles industrial dispute over pay and operational changes
Royal Mail has reached an agreement with its largest union, the Communication Workers Union after a two year dispute over strategy and pay.
“Royal Mail and CWU have committed to rebalance our focus and resources from the declining letters to the rapidly growing parcels marketing, creating a more efficient business that is better aligned to the changing needs of customers,” the FTSE 250 firm said in a statement.
The CWU separately said that they had jointly agreed to a reversal of the direction Royal Mail were taking under previous senior management.
This “without doubt would have led to parcel growth being pursued through separate structures, whilst leaving Royal Mail to wither on the vine.”
As part of plans the two parties will maximise parcel capacity and develop a 24/7 operation with the introduction of Sunday deliveries, initially on a voluntary basis.
“We have been far too slow to adapt in the past and now need to deliver change much more quickly,” Royal Mail’s interim executive chairman Keith Williams said.
The mail operator also announced it had agreed a 2.7 per cent pay increase for employees, backdated to April 2020, and a further pay increase of one per cent from April 2021.
The agreement comes after a difficult year for Royal Mail, which has previously predicted a loss of between £400m and £800m.
But in a trading update also published today, Royal Mail announced it had seen strong parcel growth during October and November driven by ecommerce activity amid the November lockdown.
Revenues in the eight months to November was £380m higher compared to the same period last year.
Shares are up 1.5 per cent.


cityam--2020-12-22--Germany bans UK travellers until January 6 amid mutant strain fears

Germany has gone further than other EU countries in barring UK travellers until January 6 amid fears of the new @ @ @ @ @ put in place a temporary ban yesterday until midnight tonight after PM Boris Johnson warned @ @ @ @ @ the UK was more easily transmissable .
Read more : All EU countries ban UK @ @ @ @ @ morning Germany went further and banned all UK travellers until the new year , along @ @ @ @ @ , where another strain has developed .
The decision by the French Government to close @ @ @ @ @ on Sunday night has caused chaos at Dover , with goods stuck in lorry queues @ @ @ @ @ UK Government is believed to be working on a new health protocol alongside the French @ @ @ @ @ slow .
Boris Johnson has criticised in particular the decision to ban truck drivers , @ @ @ @ @ really very low ” that an individual haulier could cause an outbreak .

Germany bans UK travellers until January 6 amid mutant strain fears
UK passengers will have to wait a little longer to try Berlin’s new airport (Photo by Adam Berry/Getty Images)
Germany has gone further than other EU countries in barring UK travellers until January 6 amid fears of the new Covid-19 mutation.
EU countries put in place a temporary ban yesterday until midnight tonight after PM Boris Johnson warned a new strain found in the UK was more easily transmissable.
Read more: All EU countries ban UK residents until midnight tonight
This morning Germany went further and banned all UK travellers until the new year, along with entry from South Africa, where another strain has developed.
The decision by the French Government to close the border to UK residents on Sunday night has caused chaos at Dover, with goods stuck in lorry queues on the M20.
The UK Government is believed to be working on a new health protocol alongside the French authorities but progress has been slow.
Boris Johnson has criticised in particular the decision to ban truck drivers, saying the risk was “really very low” that an individual haulier could cause an outbreak.


cityam--2020-12-22--Some 1,500 trucks stacked up at Dover as chaos continues

There are now around 1,500 lorries parked up in side streets , on motorways and in laybys as chaos continues at the port of Dover .
On Sunday France made a surprise decision to shut its border with the UK , in an attempt to stop a new , more infectious variant of the coronavirus spreading through the country .
There are hopes the chaos at Dover could be eased today , as politicians thrash out a place to restart travel .
Read more : Sainsbury ’ s warns of gaps on shelves if Dover chaos is not sorted Lorries @ @ @ @ @ @ @ many drivers spent a second night sleeping in their vehicles .
Conditions for the stuck drivers are thought to be unpleasant , with some not having access to much food or toilet facilities .
Read more : Shapps claims ‘ this is not unusual ’ ahead of emergency Cobra meeting on Dover According to reports measures agreed between Prime Minister Boris Johnson and French President Emmanuel Macron will be announced later and come into effect from Wednesday .
Last night all European countries banned entry from the UK for 48 hours amid fears @ @ @ @ @ @ @ .

Some 1,500 trucks stacked up at Dover as chaos continues
(Photo by Dan Kitwood/Getty Images)
There are now around 1,500 lorries parked up in side streets, on motorways and in laybys as chaos continues at the port of Dover.
On Sunday France made a surprise decision to shut its border with the UK, in an attempt to stop a new, more infectious variant of the coronavirus spreading through the country.
There are hopes the chaos at Dover could be eased today, as politicians thrash out a place to restart travel.
Lorries are stacked up in Kent, and many drivers spent a second night sleeping in their vehicles.
Conditions for the stuck drivers are thought to be unpleasant, with some not having access to much food or toilet facilities.
According to reports measures agreed between Prime Minister Boris Johnson and French President Emmanuel Macron will be announced later and come into effect from Wednesday.
Last night all European countries banned entry from the UK for 48 hours amid fears about the new variant of the virus.