cityam--2020-05-05--London Capital & Finance investors could start receiving compensation this month

Investors in collapsed mini-bond firm London Capital & Finance ( LCF ) could start receiving compensation this month .
The Financial Services Compensation Scheme ( FSCS ) said today it would start issuing decisions on LCF claims relating to misleading advice given to its customers before the end of May .
Read more : FSCS says it is ‘ too early to predict ’ London Capital & Finance compensation levels It said it had already started reviewing individuals claims and said it expected to have finished the exercise by September .
FSCS said once a decision had been made on @ @ @ @ @ @ @ letter to the customer to inform them of the outcome .
If they are eligible for compensation , they will be sent a cheque , the FSCS said .
The FSCS said in January that it would protect 159 LCF bondholders who switched from stocks and shares ISAs to LCF bonds .
It said other customers of LCF would only be eligible if they could prove they were given misleading advice by LCF .
Read more : Financial services lifeboat says only a handful of London Capital & Finance investors eligible for compensation @ @ @ @ @ @ @ owing £236m to more than 11,000 investors .
Caroline Rainbird , FSCS ’ s chief executive , said : “ We appreciate that this process has been a lengthy one , and that for many LCF customers the wait is not yet over .
We want to reassure LCF customers that we are continuing to work tirelessly to bring this process to a conclusion and ensure that those customers who are entitled to compensation receive it.
” “ Whilst FSCS is aware there are some customers who were given misleading advice , and @ @ @ @ @ @ @ FSCS still expects that a large proportion of LCF customers will not be eligible for compensation on this basis .
“ FSCS will provide a further update on its progress before the end of June .
”

London Capital & Finance investors could start receiving compensation this month
Begbies Traynor announced the takeover today
Investors in collapsed mini-bond firm London Capital & Finance (LCF) could start receiving compensation this month.
The Financial Services Compensation Scheme (FSCS) said today it would start issuing decisions on LCF claims relating to misleading advice given to its customers before the end of May.
It said it had already started reviewing individuals claims and said it expected to have finished the exercise by September.
FSCS said once a decision had been made on a claim, it would send a letter to the customer to inform them of the outcome.
If they are eligible for compensation, they will be sent a cheque, the FSCS said.
The FSCS said in January that it would protect 159 LCF bondholders who switched from stocks and shares ISAs to LCF bonds.
It said other customers of LCF would only be eligible if they could prove they were given misleading advice by LCF.
Mini-bond firm LCF collapsed in January 2019 owing £236m to more than 11,000 investors.
Caroline Rainbird, FSCS’s chief executive, said: “We appreciate that this process has been a lengthy one, and that for many LCF customers the wait is not yet over. We want to reassure LCF customers that we are continuing to work tirelessly to bring this process to a conclusion and ensure that those customers who are entitled to compensation receive it.”
“Whilst FSCS is aware there are some customers who were given misleading advice, and will therefore be entitled to compensation, FSCS still expects that a large proportion of LCF customers will not be eligible for compensation on this basis.
“FSCS will provide a further update on its progress before the end of June.”


cityam--2020-05-05--Coronavirus: What is the NHS contact-tracing app and how does it work?

The eagerly-awaited NHS contact-tracing app has been rolled out for the first time today , with key workers on the Isle of Wight the first to trial the new technology .
The smartphone app , which is available to healthcare and council workers from today and the rest of the island from Thursday , is expected to be rolled out nationwide in the next few weeks .
But what is the contact-tracing app , how does it work , and why do we need it ?
Read more : Coronavirus : NHS contact-tracing app trial launched on Isle of Wight @ @ @ @ @ @ @ of a contact-tracing app has been rife in recent weeks as the government races to find ways to lift the lockdown without sparking a second wave of coronavirus of infections .
Now we ’ ve been given more details about how the app will work , and a trial has been kicked off in the Isle of Wight .
The purpose of the app is to slow the spread of the virus by informing people if they have been in contact with someone who later reports they have Covid-19 symptoms .
Those who @ @ @ @ @ @ @ then be advised on what action to take , such as self-isolation .
In addition , all users of the app can voluntarily log their symptoms , meaning anyone who has been in contact with them over the last 28 days can be informed .
The smartphone platform is designed to work alongside a manual contact-tracing system , which will use telephone calls to inform people if they have come into contact with the virus .
The government has said it will hire an army of 18,000 contact tracers to handle the system @ @ @ @ @ @ @ ?
The app , published on the Apple and Google stores , will use Bluetooth technology to send out an anonymous ID .
When an individual comes close to another person using the app , the phones detect each other and log the contact .
If someone reports they are positive for Covid-19 , the app will alert anyone who has been in contact in the last month using their anonymous ID .
The NHS contact-tracing app will be able to determine the level of risk by detecting the strength of the signal @ @ @ @ @ @ @ people are — and the duration of the contact .
Officials have also said that the technology can detect when signals have passed through walls .
The app will then advise these people on what action they should take .
“ The exact advice on what you should do will depend on the evolving context and approach , ” says Matthew Gould , chief executive of NHSX .
Why do we need it ?
The government has hailed the NHS contact-tracing app as a key part of its strategy for easing the lockdown @ @ @ @ @ @ @ manual contact tracing .
“ The goal is to keep the number of new infections coming down and bring in the test , track and trace app at a point , which we will do from tomorrow on the Isle of Wight and then by rolling out to the rest of the country we will get those numbers down , ” health secretary Matt Hancock said yesterday .
However , the technology relies on uptake by a critical mass of the population , so authorities will be encouraging as many smartphone users as @ @ @ @ @ @ @ UK ’ s contact-tracing app follows similar ventures elsewhere , with countries such as Singapore , Australia , India and China rolling out the technology .
South Korea has reported no new cases thanks to a contact tracing system that combined phone location data , CCTV footage and credit card transactions .
However , this more intrusive approach has raised concerns about privacy .
Read more : Coronavirus : England and Wales death toll falls for first time since lockdown began What does it mean for privacy ?
The prospect of a location @ @ @ @ @ @ @ understandably raised concerns about privacy and data use .
Hancock has said the app will take “ full consideration ” of security concerns and argued that concerns about data use are “ completely wrong ” .
The National Cyber Security Centre , a branch of GCHQ , has issued a detailed explanation of how the contact-tracing app works and how it ensures privacy and security are protected .
The app does not record any personal information except your postcode , as well as the make and model of your smartphone .
If you @ @ @ @ @ @ @ can only be accessed by the NHS under your anonymous ID .
When other users are notified of a contact , they are not told who reported the symptoms or when the contact occurred .
Nevertheless , Amnesty UK director Kate Allen has raised concerns that the government is using coronavirus to “ normalise technologies that threaten our privacy rights , and which the public would not accept in ordinary circumstances ” .
Amnesty has called for greater justification for the app and asked why the UK is not following models used by @ @ @ @ @ @ @ deserve answers and Mr Hancock must ensure that they are forthcoming rather than ploughing ahead without meaningful consultation and transparency , ” Allen said .

Coronavirus: What is the NHS contact-tracing app and how does it work?
The eagerly-awaited NHS contact-tracing app has been rolled out for the first time today, with key workers on the Isle of Wight the first to trial the new technology.
The smartphone app, which is available to healthcare and council workers from today and the rest of the island from Thursday, is expected to be rolled out nationwide in the next few weeks.
But what is the contact-tracing app, how does it work, and why do we need it?
What is the contact-tracing app?
Talk of a contact-tracing app has been rife in recent weeks as the government races to find ways to lift the lockdown without sparking a second wave of coronavirus of infections.
Now we’ve been given more details about how the app will work, and a trial has been kicked off in the Isle of Wight.
The purpose of the app is to slow the spread of the virus by informing people if they have been in contact with someone who later reports they have Covid-19 symptoms.
Those who come into contact with the virus can then be advised on what action to take, such as self-isolation.
In addition, all users of the app can voluntarily log their symptoms, meaning anyone who has been in contact with them over the last 28 days can be informed.
The smartphone platform is designed to work alongside a manual contact-tracing system, which will use telephone calls to inform people if they have come into contact with the virus.
The government has said it will hire an army of 18,000 contact tracers to handle the system by mid-May.
How does it work?
The app, published on the Apple and Google stores, will use Bluetooth technology to send out an anonymous ID. When an individual comes close to another person using the app, the phones detect each other and log the contact.
If someone reports they are positive for Covid-19, the app will alert anyone who has been in contact in the last month using their anonymous ID.
The NHS contact-tracing app will be able to determine the level of risk by detecting the strength of the signal — which shows how close together two people are — and the duration of the contact.
Officials have also said that the technology can detect when signals have passed through walls.
The app will then advise these people on what action they should take. “The exact advice on what you should do will depend on the evolving context and approach,” says Matthew Gould, chief executive of NHSX.
Why do we need it?
The government has hailed the NHS contact-tracing app as a key part of its strategy for easing the lockdown, alongside other measures including testing and manual contact tracing.
“The goal is to keep the number of new infections coming down and bring in the test, track and trace app at a point, which we will do from tomorrow on the Isle of Wight and then by rolling out to the rest of the country we will get those numbers down,” health secretary Matt Hancock said yesterday.
However, the technology relies on uptake by a critical mass of the population, so authorities will be encouraging as many smartphone users as possible to download the app.
The UK’s contact-tracing app follows similar ventures elsewhere, with countries such as Singapore, Australia, India and China rolling out the technology.
South Korea has reported no new cases thanks to a contact tracing system that combined phone location data, CCTV footage and credit card transactions. However, this more intrusive approach has raised concerns about privacy.
What does it mean for privacy?
The prospect of a location tracking app on millions of smartphones has understandably raised concerns about privacy and data use.
Hancock has said the app will take “full consideration” of security concerns and argued that concerns about data use are “completely wrong”.
The National Cyber Security Centre, a branch of GCHQ, has issued a detailed explanation of how the contact-tracing app works and how it ensures privacy and security are protected.
The app does not record any personal information except your postcode, as well as the make and model of your smartphone. If you submit details of your symptoms, these can only be accessed by the NHS under your anonymous ID.
When other users are notified of a contact, they are not told who reported the symptoms or when the contact occurred.
Nevertheless, Amnesty UK director Kate Allen has raised concerns that the government is using coronavirus to “normalise technologies that threaten our privacy rights, and which the public would not accept in ordinary circumstances”.
Amnesty has called for greater justification for the app and asked why the UK is not following models used by other European countries.
“The public deserve answers and Mr Hancock must ensure that they are forthcoming rather than ploughing ahead without meaningful consultation and transparency,” Allen said.


cityam--2020-05-05--Regulator calls for early interventions in poor audits to help stop scandals

The audit regulator today called for accountancy firms to flag poor quality audits sooner to help prevent corporate scandals .
The Financial Reporting Council ( FRC ) said tools for spotting signs of poor quality audits should be used more effectively , following a major review of their use .
Read more : EY investigated over audit of scandal-hit NMC Health Last year all of the UK ’ s leading accounting firms failed to hit audit quality targets for the second year in a row , with Grant Thornton and PwC singled out to join KPMG under tougher supervision .
@ @ @ @ @ @ @ launched a probe into EY ’ s audit of scandal-hit NMC Health .
“ If used properly , audit quality indicators ( AQIs ) are a vital tool in helping audit firms detect audits at risk of not meeting necessary standards and for audit committees to hold audit firms accountable , ” the FRC said .
The FRC found that most monitoring of AQIs across the largest audit firms takes place after audits are completed , rather than prior to or during the process .
Read more : Wirecard says KPMG could not @ @ @ @ @ @ @ review of the use of AQIs by the six largest audit firms the FRC recommended firms focus on forward-looking and granular AQIs to ensure they are identifying early interventions which could prevent deficiencies in audits .
Some other countries have adopted initiatives where audit teams report AQIs specific to individual audits directly to audit committees .
The FRC said it plans to consult publicly on proposed standards for disclosure of AQIs by UK firms .
The FRC ’ s executive director of supervision , David Rule said : “ Audit firms need a @ @ @ @ @ @ @ Our review found that audit quality indicators , if used correctly , can help firms take decisive and immediate actions to improve audit quality .
“ Public reporting of a consistent set of audit quality indicators is required to provide companies and investors another window on audit quality .
It is clear that improvements are needed in this area and the FRC will be consulting on proposals in due course.
” Stephen Griggs , managing partner for audit and assurance at Deloitte , said : “ We support the effective use of audit @ @ @ @ @ @ @ of today ’ s FRC report to continue improving how we measure it.
” EY said in a statement : “ We welcome the FRC ’ s thematic review and will be carefully considering the findings as part of our continuous focus on audit quality.
” A PwC spokesperson said : “ We are committed to enhancing audit quality and look forward to contributing to the FRC ’ s consultation in due course .
”

Regulator calls for early interventions in poor audits to help stop scandals
The audit regulator today called for accountancy firms to flag poor quality audits sooner to help prevent corporate scandals.
The Financial Reporting Council (FRC) said tools for spotting signs of poor quality audits should be used more effectively, following a major review of their use.
Last year all of the UK’s leading accounting firms failed to hit audit quality targets for the second year in a row, with Grant Thornton and PwC singled out to join KPMG under tougher supervision.
This week the FRC said it had launched a probe into EY’s audit of scandal-hit NMC Health.
“If used properly, audit quality indicators (AQIs) are a vital tool in helping audit firms detect audits at risk of not meeting necessary standards and for audit committees to hold audit firms accountable,” the FRC said.
The FRC found that most monitoring of AQIs across the largest audit firms takes place after audits are completed, rather than prior to or during the process.
After a review of the use of AQIs by the six largest audit firms the FRC recommended firms focus on forward-looking and granular AQIs to ensure they are identifying early interventions which could prevent deficiencies in audits.
Some other countries have adopted initiatives where audit teams report AQIs specific to individual audits directly to audit committees.
The FRC said it plans to consult publicly on proposed standards for disclosure of AQIs by UK firms.
The FRC’s executive director of supervision, David Rule said: “Audit firms need a relentless focus on improving audit quality. Our review found that audit quality indicators, if used correctly, can help firms take decisive and immediate actions to improve audit quality.
“Public reporting of a consistent set of audit quality indicators is required to provide companies and investors another window on audit quality. It is clear that improvements are needed in this area and the FRC will be consulting on proposals in due course.”
Stephen Griggs, managing partner for audit and assurance at Deloitte, said: “We support the effective use of audit quality indicators and will consider the findings of today’s FRC report to continue improving how we measure it.”
EY said in a statement: “We welcome the FRC’s thematic review and will be carefully considering the findings as part of our continuous focus on audit quality.”
A PwC spokesperson said: “We are committed to enhancing audit quality and look forward to contributing to the FRC’s consultation in due course.”


cityam--2020-05-05--Alan Sugar told to brush up on ad rules over teeth whitening tweet

Lord Alan Sugar has been given a ticking off by the advertising watchdog for failing to make it clear that his tweet about a teeth whitening kit was an advert .
In a tweet posted in December the Apprentice star shared a link to a Stylsmile teeth whitening product , stating : “ If you know someone who ’ s longing for whiter teeth , this is the perfect xmas gift for them.
” Read more : Health clinics blasted by ad watchdog over IV drip coronavirus claims The dental brand was set up by entrepreneur Tom Pellereau , who @ @ @ @ @ @ @ Sugar ’ s first ever business partner from the show .
The moody mogul owns a 50 per cent stake in Stylsmile .
However , a complainant challenged whether the sweetly-named business guru had been transparent about the commercial intent of his social media post .
Stylsmile argued that Sugar ’ s links to the teeth whitening company were a “ well-known fact ” and that the Amstrad billionaire was known to post about his businesses on social media on a daily basis .
But the Advertising Standards Authority ( ASA ) ruled @ @ @ @ @ @ @ was not made clear upfront and told both parties to use a clear and prominent identifier on their social media posts , such as # ad .
It is not the first time the business magnate and TV personality , who has more than 5m followers on Twitter , has caused controversy on social media .
Read more : Burger King grilled for advertising plant-based burger not suitable for vegans In 2018 the belligerent boss faced heavy criticism for a tweet in which he compared the Senegal football team to people selling fake @ @ @ @ @ @ @ initially refused to apologise for his tweet , which was branded racist , before backtracking to say his “ attempt at humour had backfired ” .

Alan Sugar told to brush up on ad rules over teeth whitening tweet
Lord Alan Sugar has been given a ticking off by the advertising watchdog for failing to make it clear that his tweet about a teeth whitening kit was an advert.
In a tweet posted in December the Apprentice star shared a link to a Stylsmile teeth whitening product, stating: “If you know someone who’s longing for whiter teeth, this is the perfect xmas gift for them.”
The dental brand was set up by entrepreneur Tom Pellereau, who won The Apprentice in 2011 and became Sugar’s first ever business partner from the show. The moody mogul owns a 50 per cent stake in Stylsmile.
However, a complainant challenged whether the sweetly-named business guru had been transparent about the commercial intent of his social media post.
Stylsmile argued that Sugar’s links to the teeth whitening company were a “well-known fact” and that the Amstrad billionaire was known to post about his businesses on social media on a daily basis.
But the Advertising Standards Authority (ASA) ruled that the commercial intent behind the tweet was not made clear upfront and told both parties to use a clear and prominent identifier on their social media posts, such as #ad.
It is not the first time the business magnate and TV personality, who has more than 5m followers on Twitter, has caused controversy on social media.
In 2018 the belligerent boss faced heavy criticism for a tweet in which he compared the Senegal football team to people selling fake handbags and sunglasses on beaches.
Sugar initially refused to apologise for his tweet, which was branded racist, before backtracking to say his “attempt at humour had backfired”.


cityam--2020-05-05--Norman Lamont: Britons not prepared for the economic hardship 'around the corner'

Former chancellor Lord Norman Lamont has warned the government ’ s furlough scheme has made people complacent and unaware of the coming economic hardship .
Lamont , chancellor under Conservative Prime Minister John Major , said the scheme had lulled “ people into a false sense of security ” and that many do not realise “ their jobs have disappeared or are about to disappear , or that their firm is in serious trouble ” .
Read more : Rishi Sunak : No ‘ cliff edge ’ to job retention scheme The scheme sees the government pay 80 per cent @ @ @ @ @ @ @ month , to furloughed workers between April and June .
Sunak said yesterday that he was looking at ways to taper off or extend the scheme for some sectors past June , to ensure there is no “ cliff edge ” .
Lamont , speaking on a Higginson Strategy podcast , predicted there would be economic carnage “ coming around the corner ” .
“ Some sectors will bounce back , but not necessarily back to where they were before , ” he said .
“ But some sectors will disappear .
If @ @ @ @ @ @ @ sector , hospitality , tourism , restaurants , hotels , airline travel – I think they ’ re going to be very badly hit for a long time .
“ Some people sitting at home may not realise , they are not very well paid , they ’ re getting £2500 a month , they ’ re not spending much money , so they may feel relatively secure.
” Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
The former chancellor @ @ @ @ @ @ @ increase public spending and ignore the country ’ s bulging debt levels .
The Office for Budget Responsibility ( OBR ) released projections earlier this month predicting that net borrowing could hit £271bn this year .
The figure is five-times higher than the watchdog ’ s March forecast and would be the biggest in peacetime .
“ I think as we recover , the government should be very careful to nurture that gradual improvement in the situation and shouldn ’ t do anything in terms of reducing the debt that would hold back @ @ @ @ @ @ @ “ It reminds me of a situation I encountered in 1993 .
The recovery was just beginning and I announced a series of tax increases in order to reduce the deficit in borrowing , but I said they wouldn ’ t be implemented for one , two or three years to let the recovery take place on a more elongated timetable .
“ I think something similar will be required when we come out of this situation.
” Prime Minister Boris Johnson may be of a similar mind after he said last week @ @ @ @ @ @ @ a period of post-coronavirus austerity .

Norman Lamont: Britons not prepared for the economic hardship ‘around the corner’
Lamont, speaking on a Higginson Strategy podcast, predicted that there would be economic carnage “coming around the corner”.
Former chancellor Lord Norman Lamont has warned the government’s furlough scheme has made people complacent and unaware of the coming economic hardship.
Lamont, chancellor under Conservative Prime Minister John Major, said the scheme had lulled “people into a false sense of security” and that many do not realise “their jobs have disappeared or are about to disappear, or that their firm is in serious trouble”.
The scheme sees the government pay 80 per cent of wages, up to £2,500 a month, to furloughed workers between April and June.
Sunak said yesterday that he was looking at ways to taper off or extend the scheme for some sectors past June, to ensure there is no “cliff edge”.
Lamont, speaking on a Higginson Strategy podcast, predicted there would be economic carnage “coming around the corner”.
“Some sectors will bounce back, but not necessarily back to where they were before,” he said.
“But some sectors will disappear. If you think of part of the services sector, hospitality, tourism, restaurants, hotels, airline travel – I think they’re going to be very badly hit for a long time.
“Some people sitting at home may not realise, they are not very well paid, they’re getting £2500 a month, they’re not spending much money, so they may feel relatively secure.”
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
The former chancellor also encouraged the government to continue to increase public spending and ignore the country’s bulging debt levels.
The Office for Budget Responsibility (OBR) released projections earlier this month predicting that net borrowing could hit £271bn this year.
The figure is five-times higher than the watchdog’s March forecast and would be the biggest in peacetime.
“I think as we recover, the government should be very careful to nurture that gradual improvement in the situation and shouldn’t do anything in terms of reducing the debt that would hold back the recovery,” Lamont said.
“It reminds me of a situation I encountered in 1993. The recovery was just beginning and I announced a series of tax increases in order to reduce the deficit in borrowing, but I said they wouldn’t be implemented for one, two or three years to let the recovery take place on a more elongated timetable.
“I think something similar will be required when we come out of this situation.”
Prime Minister Boris Johnson may be of a similar mind after he said last week that he was not planning on undertaking a period of post-coronavirus austerity.


cityam--2020-05-05--Workers should work 'four days on, 10 days off' to ease coronavirus lockdown

The government should tell businesses to enact a “ four days on , 10 days off ” policy for workers once the coronavirus lockdown is eased , according to one of the UK ’ s leading chemical biologists .
Chair of chemical biology at Imperial College London Professor Keith Willison , writing for the neoliberal think tank Adam Smith Institute , said this cyclical plan would help avoid a second peak while getting the economy moving again .
Read more : FTSE 100 and US stocks rise as countries ease coronavirus lockdowns The report , co-authored with the institute ’ @ @ @ @ @ @ @ draws on similar cyclical work plans now used by Denmark , Austria and Germany .
It argues that the government should have three criteria to measure the success of its coronavirus lockdown exit strategy .
• If it minimises the risk of a second peak that overwhelms the NHS • If it enables the “ maximum possible return to business ” and “ education normalcy ” while keeping people safe • If it “ provides “ reassurance ” to people ’ s safety concerns and has public support Commenting on the report , @ @ @ @ @ @ @ emerges from systems biology analysis of the virus life-cycle , underpinned by mathematics , bioscience and economics .
“ We believe it could enable the UK to avoid the second spike [ of coronavirus infections ] at the same time as reactivating the economy.
” Lesh added : “ If we wait too long to begin phasing out measures it will do irreconcilable damage to our economy , to our communities and people ’ s lives .
“ It is possible to get back to work and school , even if only on @ @ @ @ @ @ @ people safe.
” Boris Johnson on Sunday will outline the UK ’ s plans for how the government will ease social distancing restrictions .
It is expected that some sectors , including construction , will be allowed to open up by the end of the month , with others told to continue working from home .
Alok Sharma has also drawn up plans for how the UK ’ s businesses will be able to open while still adhering to some social distancing guidelines .
The papers , leaked to the Financial Times , @ @ @ @ @ @ @ keep gaps between employees and mark off two metre areas with flooring tape .
The plan proposes that communal areas like canteens will be forced to remain closed , lifts kept half-empty and screens installed to avoid face-to-face contact with customers .
The CBI would not comment on the leaked proposals , however the group ’ s deputy director Josh Hardie said on Sunday that there should be a “ phased restart ” of the economy .
“ The restart must put health first , or it will risk sending the economy backwards @ @ @ @ @ @ @ s approach of flexibility within a framework , ” he said .
“ This means firms receive clear guidance and can move at speeds that suit their circumstances .
Critically , it also means those who have already invested heavily in safety don ’ t have to start again.
” The British ChmBritish Chambers of Commerce ( BCC ) president Baroness Ruby McGregor-Smith also wrote to the Prime Minister on the weekend to urge him to sustain high levels of public spending to help the private sector recover from the coronavirus .
The @ @ @ @ @ @ @ plan to ease restrictions , labelling them restart , rebuild and renew .
Read more : British Chambers of Commerce tells PM to ramp up public spending The first two phases involve a “ a phased reopening of the economy ” and “ building resilience for firms and households ” respectively .
This would involve a staggered opening of different parts of the private sector , while also implementing a strict testing and tracing regime to ensure there is not a second peak .

Workers should work ‘four days on, 10 days off’ to ease coronavirus lockdown
A woman walks in Trafalgar Square in the National Gallery in the background in London on May 5, 2020.
The government should tell businesses to enact a “four days on, 10 days off” policy for workers once the coronavirus lockdown is eased, according to one of the UK’s leading chemical biologists.
Chair of chemical biology at Imperial College London Professor Keith Willison, writing for the neoliberal think tank Adam Smith Institute, said this cyclical plan would help avoid a second peak while getting the economy moving again.
The report, co-authored with the institute’s head of research Matthew Lesh, draws on similar cyclical work plans now used by Denmark, Austria and Germany.
It argues that the government should have three criteria to measure the success of its coronavirus lockdown exit strategy.
If it minimises the risk of a second peak that overwhelms the NHS
If it enables the “maximum possible return to business” and “education normalcy” while keeping people safe
If it “provides “reassurance” to people’s safety concerns and has public support
Commenting on the report, Willison said: “The four,10 plan emerges from systems biology analysis of the virus life-cycle, underpinned by mathematics, bioscience and economics.
“We believe it could enable the UK to avoid the second spike [of coronavirus infections] at the same time as reactivating the economy.”
Lesh added: “If we wait too long to begin phasing out measures it will do irreconcilable damage to our economy, to our communities and people’s lives.
“It is possible to get back to work and school, even if only on a part time basis, while keeping people safe.”
Boris Johnson on Sunday will outline the UK’s plans for how the government will ease social distancing restrictions.
It is expected that some sectors, including construction, will be allowed to open up by the end of the month, with others told to continue working from home.
Alok Sharma has also drawn up plans for how the UK’s businesses will be able to open while still adhering to some social distancing guidelines.
The papers, leaked to the Financial Times, indicate that companies will be forced to keep gaps between employees and mark off two metre areas with flooring tape.
The plan proposes that communal areas like canteens will be forced to remain closed, lifts kept half-empty and screens installed to avoid face-to-face contact with customers.
The CBI would not comment on the leaked proposals, however the group’s deputy director Josh Hardie said on Sunday that there should be a “phased restart” of the economy.
“The restart must put health first, or it will risk sending the economy backwards. It must continue the government’s approach of flexibility within a framework,” he said.
“This means firms receive clear guidance and can move at speeds that suit their circumstances. Critically, it also means those who have already invested heavily in safety don’t have to start again.”
The British ChmBritish Chambers of Commerce (BCC) president Baroness Ruby McGregor-Smith also wrote to the Prime Minister on the weekend to urge him to sustain high levels of public spending to help the private sector recover from the coronavirus.
The BCC boss also called for a three-phase plan to ease restrictions, labelling them restart, rebuild and renew.
The first two phases involve a “a phased reopening of the economy” and “building resilience for firms and households” respectively.
This would involve a staggered opening of different parts of the private sector, while also implementing a strict testing and tracing regime to ensure there is not a second peak.


cityam--2020-05-05--Government scientist resigns after breaking lockdown to meet his lover

Government scientist , Professor Neil Ferguson , has resigned from his advisory position after the Telegraph revealed he had broken social distancing rules to meet his married lover .
Professor Ferguson , who leads a team at Imperial College London , reportedly allowed a woman to visit him in lockdown while advising the public to social distance .
Read more : Coronavirus lockdowns : Which countries have relaxed social distancing measures ?
The epidemiologist had worked on producing research which prompted Boris Johnson to enforce a nationwide lockdown .
Ferguson told the Telegraph : “ I accept I made an @ @ @ @ @ @ @ course of action .
I have therefore stepped back from my involvement in SAGE [ the government ’ s Scientific Advisory Group for Emergencies ] .
” “ I acted in the belief that I was immune , having tested positive for coronavirus and completely isolated myself for almost two weeks after developing symptoms.
” “ I deeply regret any undermining of the clear messages around the continued need for social distancing to control this devastating epidemic.
” “ The Government guidance is unequivocal , and is there to protect all of us.
@ @ @ @ @ @ @ podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Antonia Staats travelled across London to spend time with Ferguson , according to the Telegraph .
He had only just finished a two-week period of self-isolation after testing positive for the virus .
The newspaper reported that the first of Staat ’ s visits , on 30 March , had coincided with a public warning by the Ferguson that the one-week old lockdown measures would have to remain until June .
Read more : Coronavirus : What is @ @ @ @ @ @ @ it work ?
A week before this first meeting , the deputy chief medical officer Dr Jenny Harries and health secretary Matt Hancock clarified that couples not living together could not meet up during the lockdown .
She then visited Ferguson again on 8 April .
This was despite reportedly telling friends she had suspected her husband had symptoms of coronavirus .
Ferguson sat on Sage as well as the New and Emerging Respiratory Virus Threats Advisory Group ( Nervtag ) , which advises the chief medical officer and health department .
His @ @ @ @ @ @ @ which prompted Britain ’ s lockdown , after it claimed more than half a million Britons would die without the measures .
Last month , Scotland ’ s chief medical officer resigned after visiting her second home and breaching lockdown rules .
Get the news as it happens by following City A.M. on Twitter .

Government scientist resigns after breaking lockdown to meet his lover
Government scientist, Professor Neil Ferguson, has resigned from his advisory position after the Telegraph revealed he had broken social distancing rules to meet his married lover.
Professor Ferguson, who leads a team at Imperial College London, reportedly allowed a woman to visit him in lockdown while advising the public to social distance.
The epidemiologist had worked on producing research which prompted Boris Johnson to enforce a nationwide lockdown.
Ferguson told the Telegraph: “I accept I made an error of judgment and took the wrong course of action. I have therefore stepped back from my involvement in SAGE [the government’s Scientific Advisory Group for Emergencies].”
“I acted in the belief that I was immune, having tested positive for coronavirus and completely isolated myself for almost two weeks after developing symptoms.”
“I deeply regret any undermining of the clear messages around the continued need for social distancing to control this devastating epidemic.”
“The Government guidance is unequivocal, and is there to protect all of us.”
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Antonia Staats travelled across London to spend time with Ferguson, according to the Telegraph. He had only just finished a two-week period of self-isolation after testing positive for the virus.
The newspaper reported that the first of Staat’s visits, on 30 March, had coincided with a public warning by the Ferguson that the one-week old lockdown measures would have to remain until June.
A week before this first meeting, the deputy chief medical officer Dr Jenny Harries and health secretary Matt Hancock clarified that couples not living together could not meet up during the lockdown.
She then visited Ferguson again on 8 April. This was despite reportedly telling friends she had suspected her husband had symptoms of coronavirus.
Ferguson sat on Sage as well as the New and Emerging Respiratory Virus Threats Advisory Group (Nervtag), which advises the chief medical officer and health department.
His team’s work had modelled research which prompted Britain’s lockdown, after it claimed more than half a million Britons would die without the measures.
Last month, Scotland’s chief medical officer resigned after visiting her second home and breaching lockdown rules.
Get the news as it happens by following City A.M. on Twitter.


cityam--2020-05-05--Hiscox launches share placing and predicts business interruption insurance hit of £10m to £250m

Lloyd ’ s insurer Hiscox launched an equity placing of 20 per cent of its share capital and said its business interruption insurance exposure could range from £10m to £250m today .
Based on its share price at close the placing could raise approximately £400m .
Hiscox is facing potential legal action from a group of policyholders who say the insurer is failing to honour business interruption claims triggered by coronavirus and the subsequent lockdown .
“ Hiscox UK ’ s property policies do not provide cover for business interruption as a result of the general measures taken by the @ @ @ @ @ @ @ , ” the company said .
The Financial Conduct Authority ( FCA ) said on Friday it would fasttrack some test cases to help provide legal clarity on business interruption insurance claims .
Hiscos today said its modelling suggested in the event of a 12-week lockdown it could take a hit of £10m to £250m net of reinsurance on business interruption claims .
Hiscox has previously said it was paying out for travel and event cancellation claims connected to the crisis , with an expected total of up to $ 150m .
Hiscox @ @ @ @ @ @ @ are extended beyond six months the claims could increase by an additional $ 25m .
The insurer said gross written premiums grew two per cent in constant currency to $ 1.181bn compared to the same quarter the previous year .
Hsicox said it was withdrawing its financial guidance for 2020 in light of the uncertain impact of covid-19 on the global economy .
“ We remain confident in our ability to return to our normal 90-95 per cent combined ratio target range for the retail business in 2022 , ” the insurer said @ @ @ @ @ @ @ ordinary shares of 6.5 pence each and also a subscription for directors and senior management of the company with the total amount not exceeding 19.99 per cent of its existing ordinary capital .
Hiscox said it had sufficient capital to pay for expected covid-19 claims and said the placing would allow it to “ respond to future growth opportunities and rate improvement in the US wholesale and reinsurance markets , as well as prudently position the group to withstand a range of downside scenarios ” .
Read more : Insurance : Hiscox , @ @ @ @ @ @ @ dividends following Bank of England pressure Bronek Masojada , chief executive , said : “ In the first quarter , Hiscox has seen continued growth in our Retail and London Market divisions .
Hiscox Re & ILS remained cautious .
“ The business responded rapidly to the changing circumstances caused by the global Coronavirus pandemic , and almost all of our employees around the world are working from home .
We have redeployed staff to frontline roles where possible .
“ We are paying claims for event cancellation and abandonment , media and @ @ @ @ @ @ @ our policies and in the UK we welcome the positive steps by the FCA to resolve disputes in the industry over the application of property policies relating to business interruption .
“ We are announcing an equity placing today in order to respond to growth opportunities and rate improvement in the US wholesale and reinsurance markets .
We have managed our investments prudently and our capital position is robust , with an estimated group regulatory solvency ratio at the end of March of 195 per cent .
”

Hiscox launches share placing and predicts business interruption insurance hit of £10m to £250m
Lloyd’s insurer Hiscox launched an equity placing of 20 per cent of its share capital and said its business interruption insurance exposure could range from £10m to £250m today.
Based on its share price at close the placing could raise approximately £400m.
Hiscox is facing potential legal action from a group of policyholders who say the insurer is failing to honour business interruption claims triggered by coronavirus and the subsequent lockdown.
“Hiscox UK’s property policies do not provide cover for business interruption as a result of the general measures taken by the UK government in response to a pandemic,” the company said.
The Financial Conduct Authority (FCA) said on Friday it would fasttrack some test cases to help provide legal clarity on business interruption insurance claims.
Hiscos today said its modelling suggested in the event of a 12-week lockdown it could take a hit of £10m to £250m net of reinsurance on business interruption claims.
Hiscox has previously said it was paying out for travel and event cancellation claims connected to the crisis, with an expected total of up to $150m.
Hiscox said if restrictions on travel and gatherings are extended beyond six months the claims could increase by an additional $25m.
The insurer said gross written premiums grew two per cent in constant currency to $1.181bn compared to the same quarter the previous year.
Hsicox said it was withdrawing its financial guidance for 2020 in light of the uncertain impact of covid-19 on the global economy.
“We remain confident in our ability to return to our normal 90-95 per cent combined ratio target range for the retail business in 2022,” the insurer said.
Hiscox said it was placing new ordinary shares of 6.5 pence each and also a subscription for directors and senior management of the company with the total amount not exceeding 19.99 per cent of its existing ordinary capital.
Hiscox said it had sufficient capital to pay for expected covid-19 claims and said the placing would allow it to “respond to future growth opportunities and rate improvement in the US wholesale and reinsurance markets, as well as prudently position the group to withstand a range of downside scenarios”.
Bronek Masojada, chief executive, said: “In the first quarter, Hiscox has seen continued growth in our Retail and London Market divisions. Hiscox Re & ILS remained cautious.
“The business responded rapidly to the changing circumstances caused by the global Coronavirus pandemic, and almost all of our employees around the world are working from home. We have redeployed staff to frontline roles where possible.
“We are paying claims for event cancellation and abandonment, media and entertainment and travel which are covered by our policies and in the UK we welcome the positive steps by the FCA to resolve disputes in the industry over the application of property policies relating to business interruption.
“We are announcing an equity placing today in order to respond to growth opportunities and rate improvement in the US wholesale and reinsurance markets. We have managed our investments prudently and our capital position is robust, with an estimated group regulatory solvency ratio at the end of March of 195 per cent.”


cityam--2020-05-05--Dragon can leave Valley punters Happy in finale

The highlight race of the afternoon at the Valley has to be the £200,000 Class 2 Camellia Handicap ( 3.50pm ) over the extended mile .
Both Dances With Dragon and Enrichment lock horns again having produced one of the most thrilling finishes of the Happy Valley season last month .
On that occasion , Zac Purton , aboard Dances With Dragon , galvanised his mount with a power-packed finish to deny Joao Moreira and Enrichment at the post much to the disappointment of favourite backers .
Both horses and jockeys will have their supporters again and are likely to @ @ @ @ @ @ @ Dragon carrying a penalty and Enrichment drawn on the outside .
Taking this into account , it may be the time to look for some value elsewhere .
With trainer John Moore firing on all cylinders at present , with eight winners in the last fortnight , his dual course and distance winner HAPPY DRAGON could be the answer in what looks a difficult puzzle to solve .
This son of Raven ’ s Pass hasn ’ t had much luck over the last couple of months , either having awkward draws or @ @ @ @ @ @ @ his early season form gives him a leading chance over rivals Dances With Dragon and Private Secretary , and a recent trial will have put him spot-on for this contest .
With an inside draw to his advantage , he should settle in a midfield position from the off and can then use his impressive finishing kick to good effect in the latter stages of the race .

Dragon can leave Valley punters Happy in finale
The highlight race of the afternoon at the Valley has to be the £200,000 Class 2 Camellia Handicap (3.50pm) over the extended mile.
Both Dances With Dragon and Enrichment lock horns again having produced one of the most thrilling finishes of the Happy Valley season last month.
On that occasion, Zac Purton, aboard Dances With Dragon, galvanised his mount with a power-packed finish to deny Joao Moreira and Enrichment at the post much to the disappointment of favourite backers.
Both horses and jockeys will have their supporters again and are likely to dominate the market, despite Dances With Dragon carrying a penalty and Enrichment drawn on the outside.
Taking this into account, it may be the time to look for some value elsewhere.
With trainer John Moore firing on all cylinders at present, with eight winners in the last fortnight, his dual course and distance winner HAPPY DRAGON could be the answer in what looks a difficult puzzle to solve.
This son of Raven’s Pass hasn’t had much luck over the last couple of months, either having awkward draws or racing too far back.
However, his early season form gives him a leading chance over rivals Dances With Dragon and Private Secretary, and a recent trial will have put him spot-on for this contest.
With an inside draw to his advantage, he should settle in a midfield position from the off and can then use his impressive finishing kick to good effect in the latter stages of the race.
POINTERS
Happy Dragon (e/w) 3.50pm Happy Valley


cityam--2020-05-05--Barclays approves over 32,000 'bounce back' loans

Barclays has approved over 32,000 “ bounce back ” loans since the scheme was launched yesterday .
Yesterday , the bank said it received 35 loan applications per minute when the government launched the new scheme .
Read more : Lloyds delivers over £1bn in ‘ bounce back loans ’ on first day of scheme Barclays UK chief executive Matt Hammerstein told a House of Commons committee that the bank had received 200 applications within minutes of opening at 8am .
The new loan scheme offers the UK ’ s smallest firms loans worth 25 per cent of turnover , @ @ @ @ @ @ @ 100 per cent guaranteed by the government .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Earlier today , Lloyds said more than 32,000 of its smallest business customers applied for a bounce back loan on Monday , totalling over £1bn .
HSBC also said it had received 34,5000 applications by 4pm yesterday and had agreed to lend out £650m .
The wave of activity is in stark contrast to the CBILS scheme , under which the government only guarantees @ @ @ @ @ @ @ last week , 25,000 loans worth £4.1bn had been made through CBILS after it had been open since 23 March .
However , small firms said they had found they were shut out due to inconvenient application processes and strict criteria .
Read more : More than 100,000 UK firms apply for ‘ bounce back loans ’ on first day Chancellor Rishi Sunak introduced the bounce back loan scheme to iron out these issues , offering a simplified , online application process .
Barclays has approved 4,351 CBILS loans totalling £835m , as @ @ @ @ @ @ @ 12-month capital repayment holidays on existing loans over £25,000 .
Get the news as it happens by following City A.M. on Twitter .

Barclays approves over 32,000 ‘bounce back’ loans
Barclays has approved over 32,000 “bounce back” loans since the scheme was launched yesterday.
Yesterday, the bank said it received 35 loan applications per minute when the government launched the new scheme.
Barclays UK chief executive Matt Hammerstein told a House of Commons committee that the bank had received 200 applications within minutes of opening at 8am.
The new loan scheme offers the UK’s smallest firms loans worth 25 per cent of turnover, up to £50,000. The loans are 100 per cent guaranteed by the government.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Earlier today, Lloyds said more than 32,000 of its smallest business customers applied for a bounce back loan on Monday, totalling over £1bn. HSBC also said it had received 34,5000 applications by 4pm yesterday and had agreed to lend out £650m.
The wave of activity is in stark contrast to the CBILS scheme, under which the government only guarantees 80 per cent of loans.
By last week, 25,000 loans worth £4.1bn had been made through CBILS after it had been open since 23 March. However, small firms said they had found they were shut out due to inconvenient application processes and strict criteria.
Chancellor Rishi Sunak introduced the bounce back loan scheme to iron out these issues, offering a simplified, online application process.
Barclays has approved 4,351 CBILS loans totalling £835m, as of 28 April, and has introduced 12-month capital repayment holidays on existing loans over £25,000.
Get the news as it happens by following City A.M. on Twitter.


cityam--2020-05-05--Hong Kong Racing Tips: Moreira and Millard Alliance looks worth backing

HONG Kong ’ s two most dominant jockeys , Joao Moreira and Zac Purton , could be set to take Happy Valley by storm on Wednesday .
Moreira ( 110 wins ) and Purton ( 109 wins ) are having their own private battle for the jockeys ’ title , with Karis Teetan 46 winners behind Purton in a distant third .
Both jockeys arrive at the city track with a full quota of rides on the nine-race programme , and it ’ s not inconceivable they could go through the card between them .
With the recent hot weather @ @ @ @ @ @ @ s , the track on the “ B ” Course should ride fast and once again be an advantage to horses drawn low .
Past records point to horses drawn closest to the rail in races over the extended mile and it ’ s even more pronounced in races over six furlongs .
Over the past three seasons , horses drawn in stalls one to three have a 45 per cent win strike-rate in 93 races on the “ B ” Course .
Both Moreira and Purton have been lucky with their allocated @ @ @ @ @ @ @ been drawn low in six races .
Moreira ’ s best chances of success look to be YEE CHEONG PEGASUS , who lines-up in Gladiolus Handicap ( 12.45pm ) over six furlongs , and BEST ALLIANCE in the Chamomile Handicap ( 2.45pm ) .
It ’ s always significant whenever the ‘ Magic Man ’ rides for trainer Tony Millard , with the combination having a 28 per cent success rate this season .
With Millard ’ s stable hitting top form last Sunday with a double , hopes will be high they @ @ @ @ @ @ @ Cheong Pegasus who was given too much to do last start and looks a winner in waiting given he runs off the same mark here .
Moreira teams up with former 13-time Champion Jockey Douglas Whyte when he partners Best Alliance for the first time in what looks a highly-competitive handicap .
Half-a-dozen of these gallopers met three weeks ago when a blanket could have been thrown over them at the finish , with under two lengths separating winner Sunshine Warrior to eighth placed Reel Bizzy .
The well-backed Best Alliance was always @ @ @ @ @ @ @ could never find the gaps when needed in the closing stages .
This time , with Moreira in the saddle , expect the Brazilian to be in prime position before the home straight and then make a bid for glory .
Most of Zac Purton ’ s mounts will be near the forefront of the betting and it ’ s tricky to find which of his rides will prove betting propositions .
It may be worth taking a chance on his mount in the six-furlong Gladiolus Handicap ( 1.45pm ) , MOMENTUM GALAXY @ @ @ @ @ @ @ better than his form figures suggest , having twice suffered desperate journeys recently .
He is capable of proving much better than his current handicap mark .

Hong Kong Racing Tips: Moreira and Millard Alliance looks worth backing
HONG Kong’s two most dominant jockeys, Joao Moreira and Zac Purton, could be set to take Happy Valley by storm on Wednesday.
Moreira (110 wins) and Purton (109 wins) are having their own private battle for the jockeys’ title, with Karis Teetan 46 winners behind Purton in a distant third.
Both jockeys arrive at the city track with a full quota of rides on the nine-race programme, and it’s not inconceivable they could go through the card between them.
With the recent hot weather and humidity up into the 90’s, the track on the “B” Course should ride fast and once again be an advantage to horses drawn low.
Past records point to horses drawn closest to the rail in races over the extended mile and it’s even more pronounced in races over six furlongs.
Over the past three seasons, horses drawn in stalls one to three have a 45 per cent win strike-rate in 93 races on the “B” Course.
Both Moreira and Purton have been lucky with their allocated draw numbers, especially Purton who has been drawn low in six races.
Moreira’s best chances of success look to be YEE CHEONG PEGASUS, who lines-up in Gladiolus Handicap (12.45pm) over six furlongs, and BEST ALLIANCE in the Chamomile Handicap (2.45pm).
It’s always significant whenever the ‘Magic Man’ rides for trainer Tony Millard, with the combination having a 28 per cent success rate this season.
With Millard’s stable hitting top form last Sunday with a double, hopes will be high they can add to that tally with Yee Cheong Pegasus who was given too much to do last start and looks a winner in waiting given he runs off the same mark here.
Moreira teams up with former 13-time Champion Jockey Douglas Whyte when he partners Best Alliance for the first time in what looks a highly-competitive handicap.
Half-a-dozen of these gallopers met three weeks ago when a blanket could have been thrown over them at the finish, with under two lengths separating winner Sunshine Warrior to eighth placed Reel Bizzy.
The well-backed Best Alliance was always travelling comfortably during that race, but could never find the gaps when needed in the closing stages.
This time, with Moreira in the saddle, expect the Brazilian to be in prime position before the home straight and then make a bid for glory.
Most of Zac Purton’s mounts will be near the forefront of the betting and it’s tricky to find which of his rides will prove betting propositions.
It may be worth taking a chance on his mount in the six-furlong Gladiolus Handicap (1.45pm), MOMENTUM GALAXY.
This Jimmy Ting-trained four-year-old is much better than his form figures suggest, having twice suffered desperate journeys recently.
He is capable of proving much better than his current handicap mark.
POINTERS
Yee Cheong Pegasus 12.45pm Happy Valley
Momentum Galaxy 1.45pm Happy Valley
Best Alliance 2.45pm Happy Valley
PYRAH’S PLACEPOT PICKS
1.15pm – 1 & 9
1.45pm – 2 & 6
2.15pm – 3
2.45pm – 7 & 8
3.15pm – 6
3.50pm – 1 & 6


cityam--2020-05-05--Coronavirus lockdowns: Which countries have relaxed social distancing measures?

European countries are slowly lifting their coronavirus lockdown measures as hospital numbers and death tolls stabilise .
The UK has yet to lay out an exit strategy but is set to review its lockdown measures next week .
Last week the Prime Minister said he would outline plans to ease the UK coronavirus lockdown this week .
We look at how other countries have started to ease restrictions – and what the UK can learn as it plans its own exit .
Italy remains the worst hit country in Europe with nearly 212,000 cases and nearly 29,000 deaths .
However @ @ @ @ @ @ @ to its lowest since 10 March .
The number of people in intensive care has also dropped .
Italy brought in a limited easing of its coronavirus lockdown on 14 April , allowing some small shops to reopen .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
From Monday , the country relaxed measures after nearly two months of strict lockdown .
People are now allowed to move around their own regions , and face masks will be required on @ @ @ @ @ @ @ reopened for takeaway services .
They are expected to reopen to diners from 1 June , along with hairdressers , salons and bars .
Schools are not expected to open until September .
Social distancing measures will continue and places of worship remain closed for religious ceremonies , despite some backlash from the Catholic Church .
Funerals are set to resume from 4 May , with a maximum of 15 attendees .
Last week France set out plans for a phased ending of its coronavirus lockdown beginning on 11 May .
Prime Minister @ @ @ @ @ @ @ red or green on 7 May for the proposed easing of restrictions four days later .
The decision will be based on the number of new cases , as well as capacity in hospitals and for testing .
As in Italy , it will be compulsory to wear masks on all public transport , in taxis and on school buses .
Face masks will also be compulsory for all staff and customers when shops are allowed to reopen from 11 May .
Bars , restaurants and cafes will remain closed .
Instead the @ @ @ @ @ @ @ by the end of May as to whether they can reopen after 2 June .
Creches , nurses and primary schools are also set to open as France eases lockdown .
Secondary schools will be able to reopen a week later in regions where the virus circulation is low .
The PM said he will make a decision on colleges by the end of May , as well as a decision on restaurants , bars and nightclubs .
Stricter coronavirus lockdown restrictions will continue for those over-65 even after 11 May .
The @ @ @ @ @ @ @ limit large gatherings of people .
No events with more than 5,000 participants will be held before September .
Earlier this week , France ended its football league season early , handing Paris Saint-Germain the Ligue 1 title .
Like the UK , testing remains an issue with an insufficient number of tests making contact tracing difficult .
Philippe said this week the aim is to carry out at least 700,000 tests per week by 11 May .
Read more : Italy to ease lockdown measures as coronavirus infections drop Spanish PM Pedro @ @ @ @ @ @ @ will take place over four stages .
From Monday , lockdown measures started to ease on the smaller Spanish islands .
Some local shops have been allowed to reopen , while restaurants and bars have opened for takeaway services .
Mainland Spain will enter the first phase of transition from Monday , but the government has said decisions will be based on local circumstances .
Shops and markets can reopen with social distancing measures still in place .
Restaurants will be allowed to open outside terraces as long as no more than 30 @ @ @ @ @ @ @ Similarly , places of worship can open with reduced capacity in an eased coronavirus lockdown .
By the end of May , restaurants could be allowed to open up indoor dining areas , with reduced capacity .
Cinemas , theatres and exhibitions will follow suit .
Come mid-June , large shopping centres , bars and nightclubs are set to reopen albeit with 30 per cent capacity .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Germany began easing its coronavirus @ @ @ @ @ @ @ shops reopened with strict social distancing measures in place .
Face masks are mandatory on public transport .
Schools started to reopen for exam year students yesterday , with pupils attending in groups on alternating days or weeks .
Last week week , Chancellor Angela Merkel gave playgrounds , museums , zoos and places of worship the green light to reopen .
However , she warned that there was risk of triggering a second wave if people did not adhere to social distancing measures .
The decision on when to open schools , @ @ @ @ @ @ @ pushed back to this week .
The prospect of a return to normality has been made possible by widespread testing , with a fall in the number of infections to just under 1,500 a day .
The US has been the worst hit by the coronavirus , with over a million cases and 69,000 deaths .
However , its federal system makes a centralised easing of lockdown incredibly difficult .
However , the US is starting to open up again , with hairdressers , tattoo shops and gyms being allowed to open in @ @ @ @ @ @ @ restrictions even though some have not met the guidelines which recommend proof of a two week decline in number of new cases and deaths .
Some states led by Republican governors have sought to move more quickly .
Documents obtained by the New York Times show that the country could see up to 3,000 deaths per day by June 1 as it pushes to reopen the economy .
When will the UK ease coronavirus lockdown measures ?
Read more : Boris Johnson : UK ‘ past the peak ’ of coronavirus outbreak In @ @ @ @ @ @ @ PM said the UK was “ past the peak ” of infection and that he would lay out plans to ease restrictions next week .
The government set out five tests for easing the coronavirus lockdown in mid-April , which have yet to be met .
A key requirement is that the NHS should have enough virus testing capacity and PPE .
Health secretary Matt Hancock has come under scrutiny over his 100,000 tests per day target , after claiming it was about capacity and not tests administered .
Additionally , a survey @ @ @ @ @ @ @ that a third of surgeons and trainees did not believe they had an adequate supply of PPE .
There must be a sustained and consistent fall in the daily death toll , which is likely to be the last to show improvement .
It is estimated that the UK ’ s death toll peaked on 8 April and has been falling since .
Ministers would also have to be satisfied the NHS could cope with a second wave .
What will life post-lockdown look like ?
It is generally accepted that the UK @ @ @ @ @ @ @ measures in phases .
There has already been some opening up of business again , with construction workers returning to construction sites albeit with the enforcement of social distancing .
Additionally , the hospitality industry , which has been one of the worst hit through the coronavirus lockdown , is showing signs of ramping up operations again .
McDonald ’ s is trialling social distancing measures behind closed doors ahead of reopening .
But Greggs has reversed plans to trial reopening some stores .
Instead it will trial reopening behind closed doors for @ @ @ @ @ @ @ new format out across its more than 2,000 sites in the UK .
Read more : Greggs shares sink as it cancels plan to reopen stores amid lockdown Like Germany , it is likely the UK will encourage people to wear masks in public .
Scottish First Minister Nicola Sturgeon broke ranks earlier this week by advising the public wear masks in enclosed spaces where social distancing is difficult to achieve .
Yesterday , Johnson said face coverings will be “ useful ” when restrictions are eased to give people “ confidence they @ @ @ @ @ @ @ Get the news as it happens by following City A.M. on Twitter .

Coronavirus lockdowns: Which countries have relaxed social distancing measures?
When will the UK ease its coronavirus lockdown? And how have other countries eased their coronavirus lockdowns?
European countries are slowly lifting their coronavirus lockdown measures as hospital numbers and death tolls stabilise.
The Prime Minister last night outlined a “roadmap” for easing lockdown. He announced a new coronavirus alert system with five levels that influence how quickly lockdown could be eased.
We look at how other countries have started to ease restrictions – and what the UK can learn as it plans its own exit.
Italy lockdown
Italy has been one of the worst hit countries in Europe with nearly 220,000 cases and nearly 30,560 deaths. However, the number of deaths has fallen to its lowest since 10 March. The number of people in intensive care has also dropped.
Italy brought in a limited easing of its coronavirus lockdown on 14 April, allowing some small shops to reopen.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
From 4 May, the country relaxed measures after nearly two months of strict lockdown. People are now allowed to move around their own regions, and face masks will be required on all public transport.
Restaurants have also reopened for takeaway services. They are expected to reopen to diners from 1 June, along with hairdressers, salons and bars. Schools are not expected to open until September.
Social distancing measures will continue and places of worship remain closed for religious ceremonies, despite some backlash from the Catholic Church. Funerals are set to resume from 4 May, with a maximum of 15 attendees.
France lockdown
France set out plans for a phased ending of its coronavirus lockdown beginning on 11 May.
Prime Minister Eduoard Philippe said regions would be labelled red or green on 7 May for the proposed easing of restrictions four days later. The decision will be based on the number of new cases, as well as capacity in hospitals and for testing.
As in Italy, it will be compulsory to wear masks on all public transport, in taxis and on school buses. Face masks will also be compulsory for all staff and customers when shops are allowed to reopen from 11 May.
Bars, restaurants and cafes will remain closed. Instead the government has promised to make a decision by the end of May as to whether they can reopen after 2 June.
Creches, nurses and primary schools are also set to open as France eases lockdown. Secondary schools will be able to reopen a week later in regions where the virus circulation is low. The PM said he will make a decision on colleges by the end of May, as well as a decision on restaurants, bars and nightclubs.
Stricter coronavirus lockdown restrictions will continue for those over-65 even after 11 May.
The government’s main aim is to limit large gatherings of people. No events with more than 5,000 participants will be held before September. Last week, France ended its football league season early, handing Paris Saint-Germain the Ligue 1 title.
Like the UK, testing remains an issue with an insufficient number of tests making contact tracing difficult. Philippe said last week the aim is to carry out at least 700,000 tests per week by 11 May.
Spain lockdown
Spanish PM Pedro Sanchez said the “new normality” will take place over four stages.
From 4 May, lockdown measures started to ease on the smaller Spanish islands. Some local shops have been allowed to reopen, while restaurants and bars have opened for takeaway services.
Mainland Spain will enter the first phase of transition from 11 May, but the government has said decisions will be based on local circumstances. Shops and markets can reopen with social distancing measures still in place.
Restaurants will be allowed to open outside terraces as long as no more than 30 per cent of places are occupied. Similarly, places of worship can open with reduced capacity in an eased coronavirus lockdown.
By the end of May, restaurants could be allowed to open up indoor dining areas, with reduced capacity. Cinemas, theatres and exhibitions will follow suit.
Come mid-June, large shopping centres, bars and nightclubs are set to reopen albeit with 30 per cent capacity.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Germany lockdown
Germany began easing its coronavirus lockdown measures last month, as smaller shops reopened with strict social distancing measures in place. Face masks are mandatory on public transport.
Schools started to reopen for exam year students last week, with pupils attending in groups on alternating days or weeks.
Last week, Chancellor Angela Merkel gave playgrounds, museums, zoos and places of worship the green light to reopen. However, she warned that there was risk of triggering a second wave if people did not adhere to social distancing measures.
The country has now seen a rise in the reproduction rate to above 1, according to the Robert Koch Institute.
The prospect of a return to normality has been made possible by widespread testing, with a fall in the number of infections to just under 1,500 a day.
US lockdown
The US has been the worst hit by the coronavirus, with over a million cases and 79,000 deaths. However, its federal system makes a centralised easing of lockdown incredibly difficult.
Parts of the US are starting to open up again, with hairdressers, tattoo shops and gyms being allowed to open in Georgia.
Around 30 states are lifting restrictions even though some have not met the guidelines which recommend proof of a two week decline in number of new cases and deaths. Some states led by Republican governors have sought to move more quickly.
Documents obtained by the New York Times show that the country could see up to 3,000 deaths per day by June 1 as it pushes to reopen the economy.
South Korea lockdown
A new cluster of coronavirus cases in Seoul has led to the reinstatement of social distancing measures amid fears of a new wave of cases in South Korea.
The country had received international praise for mass testing, contact tracing and social distancing to combat the outbreak. Officials attributed the new wave of cases to at least oner person who visited clubs and bars in a popular nightlife district in Seoul.
Health officials reported 34 new cases on Sunday, a sharp rise from the past week when South Korea reported several days of no local infections.
What will life post-lockdown look like in the UK?
The UK will follow other European countries by easing measures in phases. There has already been some opening up of business again, with construction workers returning to construction sites albeit with the enforcement of social distancing.
The PM encouraged people to return to work who cannot work from home, in an address to the nation on Sunday. He outlined a conditional plan for the easing of lockdown measures, based on a five level alert system. Level five is the most critical, and the UK is ready to move from level four to three, according to the PM.
The government has said there is now no limit on exercise, and from Wednesday it will be possible to drive to other destinations and play sports with members of your household. Individual sports such as golf and fishing are also now allowed.
Stage two will include a phased reopening of shops no earlier than 1 June. The third stage will be from 1 July and will see some of the hospitality industry opening up again.
Get the news as it happens by following City A.M. on Twitter.


cityam--2020-05-06--£2bn of 'bounce back' loans for SMEs approved in first 24 hours

More than 69,000 so-called coronavirus bounce back loans were approved on the first day of them being made available via banks .
The approvals equate to over £2bn in loans during the first 24 hours of the bounce back scheme ’ s launch on Monday , chancellor Rishi Sunak said today .
Read more : Lloyds delivers over £1bn in ‘ bounce back loans ’ on first day of scheme The seven largest UK banks including HSBC , Barclays , Lloyds , RBS , Santander and Virgin Money received more than 130,000 applications for bounce back loans on Monday .
@ @ @ @ @ @ @ SMEs can apply for loans of up to £50,000 and expect to get the cash within as little as 24 hours .
The government has guaranteed 100 per cent of such loans .
Sunak announced them a week ago after criticism banks have been slow to lend out larger sums to small businesses struggling amid coronavirus .
“ Small businesses will be the driving force of our recovery from the pandemic , creating jobs and securing economic growth , ” Sunak said today .
“ These loans will help them bounce back from @ @ @ @ @ @ @ so it ’ s great to see close to 70,000 businesses benefitting in just the first day .
“ It ’ s vital this speedy progress continues in the days and weeks ahead.
” Lenders are now working to approve the remaining applications for bounce back loans as more pour in .
The scheme allows SMEs hit by coronavirus to apply for a loan worth 25 per cent of their turnover without providing proof they can pay back the sum .
It is designed to help struggling small businesses access cash more quickly @ @ @ @ @ @ @ .
It comes after banks have been criticised for turning down larger coronavirus loan applications .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
The government has set aside hundreds of billions of pounds to lend out to businesses with a turnover of up to £45m via UK banks .
But SMEs have slammed lenders for rejecting loan applications over historic profit issues , or where they have fallen to a small loss as a result of issues like late @ @ @ @ @ @ @ designed to allow small firms to access cash more quickly and easily .
Following the criticism , however , Sunak has overhauled the process for applying for a coronavirus loan .
Banks had collectively loaned SMEs £4.1bn as of last Thursday .
And they have sought to simplify the application process by dropping a requirement for firms to predict future earnings .
Meanwhile , chancellor Rishi Sunak yesterday signalled he may extend the job retention scheme , which has so far cost the government £8bn in paying furloughed staff ’ s wages .
@ @ @ @ @ @ @ of wages the Treasury pays furloughed staff .
Currently that stands at 80 per cent of salaries , up to £2,500 .
Federation of Small Businesses ( FSB ) National Chairman Mike Cherry said : “ The bounce back loans scheme has come out of the blocks strong.
” He pointed out the £2bn figure took weeks to achieve under the Coronavirus Business Interruption Loan Scheme ( CBILS ) .
“ From here though , it ’ s important that efforts to increase competition in the small business banking market are maintained , @ @ @ @ @ @ @ concerns SMEs can not access the bounce back loans scheme .
Read more : Lloyds delivers over £1bn in ‘ bounce back loans ’ on first day of scheme “ Unfortunately , we are hearing reports that bounce back application forms are hard to access or enquiries are simply being acknowledged with a ‘ we ’ ll call you ’ message and nothing further , ” he said .
“ Many of the most vulnerable business owners – particularly sole traders – only have personal banks accounts .
As a result , are @ @ @ @ @ @ @ access a bounce back loan .
It ’ s vital that they are helped to secure the finance on which many will depend to make it through this incredibly challenging time .
“ All in all it ’ s a very promising start , but there ’ s still work to do.
” Read more : CBILS application process ‘ soul destroying ’ , says director of film industry business Stephen Jones , chief executive of banking industry body UK Finance , said the numbers were “ testament to their [ banks ’ @ @ @ @ @ @ @ : “ While businesses only need to fill in a simple form online to apply , it ’ s important to remember that this type of finance is debt , not a government or bank grant , and will need to be repaid by the borrower over the six-year term of the loan .
“ All businesses should consider carefully their repayment obligations before completing a bounce back loan application .
Under the terms of the scheme lenders are required to seek to recover any unpaid interest and principal on bounce back loans @ @ @ @

£2bn of ‘bounce back’ loans for SMEs approved in first 24 hours
Rishi Sunak’s bounce back loans scheme saw banks approve 69,000 loans on the first day of launch
More than 69,000 so-called coronavirus bounce back loans were approved on the first day of them being made available via banks.
The approvals equate to over £2bn in loans during the first 24 hours of the bounce back scheme’s launch on Monday, chancellor Rishi Sunak said today.
The seven largest UK banks including HSBC, Barclays, Lloyds, RBS, Santander and Virgin Money received more than 130,000 applications for bounce back loans on Monday.
Under the small business loan scheme, SMEs can apply for loans of up to £50,000 and expect to get the cash within as little as 24 hours.
The government has guaranteed 100 per cent of such loans. Sunak announced them a week ago after criticism banks have been slow to lend out larger sums to small businesses struggling amid coronavirus.
“Small businesses will be the driving force of our recovery from the pandemic, creating jobs and securing economic growth,” Sunak said today.
“These loans will help them bounce back from this crisis – getting money fast – so it’s great to see close to 70,000 businesses benefitting in just the first day.
“It’s vital this speedy progress continues in the days and weeks ahead.”
Lenders are now working to approve the remaining applications for bounce back loans as more pour in.
The scheme allows SMEs hit by coronavirus to apply for a loan worth 25 per cent of their turnover without providing proof they can pay back the sum.
It is designed to help struggling small businesses access cash more quickly to stay afloat during the coronavirus lockdown.
It comes after banks have been criticised for turning down larger coronavirus loan applications.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
The government has set aside hundreds of billions of pounds to lend out to businesses with a turnover of up to £45m via UK banks.
But SMEs have slammed lenders for rejecting loan applications over historic profit issues, or where they have fallen to a small loss as a result of issues like late payments.
The bounce back loans are designed to allow small firms to access cash more quickly and easily.
Following the criticism, however, Sunak has overhauled the process for applying for a coronavirus loan. Banks had collectively loaned SMEs £4.1bn as of last Thursday.
And they have sought to simplify the application process by dropping a requirement for firms to predict future earnings.
Meanwhile, chancellor Rishi Sunak yesterday signalled he may extend the job retention scheme, which has so far cost the government £8bn in paying furloughed staff’s wages.
However, Sunak may cut the percentage of wages the Treasury pays furloughed staff. Currently that stands at 80 per cent of salaries, up to £2,500.
FSB: More access needed on bounce back loans
Federation of Small Businesses (FSB) National Chairman Mike Cherry said: “The bounce back loans scheme has come out of the blocks strong.” He pointed out the £2bn figure took weeks to achieve under the Coronavirus Business Interruption Loan Scheme (CBILS).
“From here though, it’s important that efforts to increase competition in the small business banking market are maintained,” Cherry added. And he raised concerns SMEs cannot access the bounce back loans scheme.
“Unfortunately, we are hearing reports that bounce back application forms are hard to access or enquiries are simply being acknowledged with a ‘we’ll call you’ message and nothing further,” he said.
“Many of the most vulnerable business owners – particularly sole traders – only have personal banks accounts. As a result, are being told that they can’t access a bounce back loan. It’s vital that they are helped to secure the finance on which many will depend to make it through this incredibly challenging time.
“All in all it’s a very promising start, but there’s still work to do.”
UK Finance: Figures show banks’ hard work
Stephen Jones, chief executive of banking industry body UK Finance, said the numbers were “testament to their [banks’] hard work”.
He added: “While businesses only need to fill in a simple form online to apply, it’s important to remember that this type of finance is debt, not a government or bank grant, and will need to be repaid by the borrower over the six-year term of the loan.
“All businesses should consider carefully their repayment obligations before completing a bounce back loan application. Under the terms of the scheme lenders are required to seek to recover any unpaid interest and principal on bounce back loans from borrowers.”


cityam--2020-05-06--Business organisations form coalition in response to coronavirus

Leading employer organisations have joined forces to create a united voice for business in response to the coronavirus pandemic .
A group of more than 20 organisations have formed the Business Action Council ( BAC ) , which claims to represent more than half a million businesses across the UK .
Read more : £2bn of ‘ bounce back ’ loans for SMEs approved in first 24 hours Its founding members include the Confederation of British Industry ( CBI ) , the Institute of Directors ( IoD ) , the Federation of Small Businesses ( FSB ) , and the @ @ @ @ @ @ @ .
The council ’ s main aim is to “ act as an instrument that provides government with a more coherent perspective from business.
” The BAC said it is developing policy proposals to submit to the government .
Lord Bilimoria , vice president of the CBI said : “ It is a historic moment to see organisations that sometimes see each other as competitors put aside differences and unite in the national interest.
” “ There are no simple answers to the myriad problems that the pandemic has created : entrepreneurship organisations @ @ @ @ @ @ @ coming months to develop the bold and imaginative solutions necessary to help us recover as quickly as possible.
” Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Six specialist working groups are working on policy proposals to help guide the government ’ s response to the coronavirus pandemic .
Among them is work on employee retention , to fine-tune the government ’ s furlough scheme .
Business groups have urged Rishi Sunak to extend or amend the job retention scheme @ @ @ @ @ @ @ mass redundancies .
The chancellor has moved to assure people that “ there will be no cliff edge ” to the scheme .
The BAC is also working on a tax framework that puts SMEs at the “ heart of the recovery ” , as well as supporting high growth startups .
In recent days , the government ’ s bounce-back loan scheme has received praise from small businesses .
Nearly 70,000 loans , totalling over £2bn , were approved on the first day of the scheme being launched .
The government has @ @ @ @ @ @ @ back loans .
Sunak announced the scheme after banks were criticised for being slow to lend out larger sums to small businesses .
Get the news as it happens by following City A.M. on Twitter .

Business organisations form coalition in response to coronavirus
Leading employer organisations have joined forces to create a united voice for business in response to the coronavirus pandemic.
A group of more than 20 organisations have formed the Business Action Council (BAC), which claims to represent more than half a million businesses across the UK.
Its founding members include the Confederation of British Industry (CBI), the Institute of Directors (IoD), the Federation of Small Businesses (FSB), and the British Chambers of Commerce (BCC).
The council’s main aim is to “act as an instrument that provides government with a more coherent perspective from business.” The BAC said it is developing policy proposals to submit to the government.
Lord Bilimoria, vice president of the CBI said: “It is a historic moment to see organisations that sometimes see each other as competitors put aside differences and unite in the national interest.”
“There are no simple answers to the myriad problems that the pandemic has created: entrepreneurship organisations will need to work together over the coming months to develop the bold and imaginative solutions necessary to help us recover as quickly as possible.”
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Six specialist working groups are working on policy proposals to help guide the government’s response to the coronavirus pandemic. Among them is work on employee retention, to fine-tune the government’s furlough scheme.
Business groups have urged Rishi Sunak to extend or amend the job retention scheme as worries mount that it could cause mass redundancies. The chancellor has moved to assure people that “there will be no cliff edge” to the scheme.
The BAC is also working on a tax framework that puts SMEs at the “heart of the recovery”, as well as supporting high growth startups.
In recent days, the government’s bounce-back loan scheme has received praise from small businesses. Nearly 70,000 loans, totalling over £2bn, were approved on the first day of the scheme being launched.
The government has guaranteed 100 per cent of these bounce back loans. Sunak announced the scheme after banks were criticised for being slow to lend out larger sums to small businesses.
Get the news as it happens by following City A.M. on Twitter.


cityam--2020-05-06--Boris Johnson announces target of 200,000 coronavirus tests a day by end of May

Prime Minister Boris Johnson today announced a new target of 200,000 coronavirus tests a day by the end of May .
On his return to Prime Minister ’ s questions in parliament after recovering from Covid-19 Johnson revealed the new target .
Read more : Quicker testing would have been ‘ beneficial ’ says chief scientific adviser Johnson said the government has a new “ ambition ” to reach 200,000 coronavirus tests a day by the end of May and to “ go even higher ” .
Johnson also said lockdown measures could be eased by Monday with an announcement @ @ @ @ @ @ @ Keir Starmer had questioned why the government had hit its target of 100,000 coronavirus tests a day by the end of April , only to see testing numbers fall .
Starmer said that since 30 April , coronavirus test numbers have “ fallen back ” , with only 84,000 taking place and 24,000 not used according to the last figures .
“ What does the prime minister think was so special about 30 April that meant testing that day was so high , ” he asked .
Starmer criticised the government after the @ @ @ @ @ @ @ highest in Europe .
“ How on earth did it come to this ?
” Starmer said .
“ Every death is a tragedy and he is right to draw attention to the appalling statistics , not just in this country but around the world , ” Johnson said .
But he said the data is not yet there to “ draw conclusions ” .
Johnson added : “ What I can tell him is at every stage as we took the decisions we did , we were governed by one overriding principle @ @ @ @ @ @ @ ”

Boris Johnson announces target of 200,000 coronavirus tests a day by end of May
(Photo by DANIEL LEAL-OLIVAS/AFP via Getty Images)
Prime Minister Boris Johnson today announced a new target of 200,000 coronavirus tests a day by the end of May.
On his return to Prime Minister’s questions in parliament after recovering from Covid-19 Johnson revealed the new target.
Johnson said the government has a new “ambition” to reach 200,000 coronavirus tests a day by the end of May and to “go even higher”.
Johnson also said lockdown measures could be eased by Monday with an announcement planned for Sunday.
Labour leader Sir Keir Starmer had questioned why the government had hit its target of 100,000 coronavirus tests a day by the end of April, only to see testing numbers fall.
Starmer said that since 30 April, coronavirus test numbers have “fallen back”, with only 84,000 taking place and 24,000 not used according to the last figures.
“What does the prime minister think was so special about 30 April that meant testing that day was so high,” he asked.
Starmer criticised the government after the UK’s death toll reached the highest in Europe.
“How on earth did it come to this?” Starmer said.
“Every death is a tragedy and he is right to draw attention to the appalling statistics, not just in this country but around the world,” Johnson said.
But he said the data is not yet there to “draw conclusions”.
Johnson added: “What I can tell him is at every stage as we took the decisions we did, we were governed by one overriding principle – save lives and protect NHS.”


cityam--2020-05-06--Elon Musk and Grimes name son X Æ A-12

Elon Musk and Grimes name son X Æ A-12

Tesla chief executive Elon Musk and singer Grimes have confirmed they have named their newborn son X Æ A-12 .
Musk announced the birth of their son on Monday , tweeting : “ Mom and baby all good ” .
Read more : Elon Musk tweets that Tesla stock price is ‘ too high ’ as he rails against lockdown again He also announced the child would be called X Æ A-12 and Grimes later explained the choice of name .
Musk also took the time to criticise Professor Neil Ferguson , who resigned from Sage for breaking lockdown rules @ @ @ @ @ @ @ Musk called Ferguson an “ utter moron ” .
Ferguson led the team at Imperial College London which worked on research that prompted Boris Johnson to enforce a nationwide lockdown .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Musk has been outspoken on governments ’ response to the coronavirus outbreak , calling for the end of lockdown measures .
Ahead of Tesla ’ s first-quarter results last week , the billionaire tweeted : “ FREE AMERICA NOW ” and @ @ @ @ @ @ @ back !
” He also labelled the US ’ coronavirus lockdown as “ fascist ” and said it posed a serious risk to Tesla ’ s business .
In an earnings call , he said : “ This is not democratic , this is not freedom .
Give people back their goddamn freedom !
” Musk , who has a history of tweeting controversial statements , also said Tesla ’ s stock was “ too high ” last week , which sent shares plummeting .
The Tesla boss has come under fire for @ @ @ @ @ @ @ in the past .
In 2018 , he was sued by the SEC after it argued Musk had made false statements in regards to going private .
Get the news as it happens by following City A.M. on Twitter .

Elon Musk and Grimes name son X Æ A-12
Photo: Elon Musk (@elonmusk)
Tesla chief executive Elon Musk and singer Grimes have confirmed they have named their newborn son X Æ A-12.
Musk announced the birth of their son on Monday, tweeting: “Mom and baby all good”.
Mom & baby all good — Elon Musk (@elonmusk) May 5, 2020
He also announced the child would be called X Æ A-12 and Grimes later explained the choice of name.
•X, the unknown variable ⚔
•Æ, my elven spelling of Ai (love &/or Artificial intelligence)
•A-12 = precursor to SR-17 (our favorite aircraft). No weapons, no defenses, just speed. Great in battle, but non-violent 🤍
+
(A=Archangel, my favorite song)
(⚔🐁 metal rat) — Grimes 🪐 ᚷᚱᛁᛗᛖᛋ (@Grimezsz) May 6, 2020
Musk also took the time to criticise Professor Neil Ferguson, who resigned from Sage for breaking lockdown rules to meet his mistress. On Monday Musk called Ferguson an “utter moron”.
Ferguson led the team at Imperial College London which worked on research that prompted Boris Johnson to enforce a nationwide lockdown.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Musk has been outspoken on governments’ response to the coronavirus outbreak, calling for the end of lockdown measures.
Ahead of Tesla’s first-quarter results last week, the billionaire tweeted: “FREE AMERICA NOW” and separately tweeted “give people their freedom back!”
He also labelled the US’ coronavirus lockdown as “fascist” and said it posed a serious risk to Tesla’s business. In an earnings call, he said: “This is not democratic, this is not freedom. Give people back their goddamn freedom!”
Musk, who has a history of tweeting controversial statements, also said Tesla’s stock was “too high” last week, which sent shares plummeting.
The Tesla boss has come under fire for tweeting about the company’s stock in the past. In 2018, he was sued by the SEC after it argued Musk had made false statements in regards to going private.
Get the news as it happens by following City A.M. on Twitter.