cityam--2020-08-21--Crossrail opening delayed until 2022 and extra £1.1bn needed to finish project

The opening of London ’ s new Crossrail underground line has been delayed until 2022 and an extra £1.1bn is needed to complete the project , Crossrail Ltd said today .
Read more : Crossrail set for further delays and cost increases due to coronavirus Crossrail said the central section of the Elizabeth Line between Paddington and Abbey Wood will be ready to open in the first half of 2022 .
Crossrail has faced severe delays and budget blowouts over the past decade .
The line – which will connect Reading and Heathrow in the west to Shenfield and Abbey @ @ @ @ @ @ @ to be open in December 2018 and a cost of £14.9bn .
Last year bosses pushed back the expected opening date to late 2020 .
Read more : TfL may halt Crossrail 2 work over government funding review Crossrail said today that the project could run up to £1.1bn above the financing package agreed in December 2018 ( £450m more than the upper end of the range announced in November 2019 ) .
Crossrail chief executive Mark Wild said : “ Delivery of the Elizabeth line is now in its complex final stages @ @ @ @ @ @ @ of great uncertainty due to the risk and potential impacts of further covid outbreaks .
“ We are working tirelessly to complete the remaining infrastructure works so that we can fully test the railway and successfully transition the project as an operational railway to Transport for London.
” Andy Byford , London ’ s transport commissioner , said : “ It is very disappointing to receive confirmation from Crossrail Ltd that their plan for opening the Elizabeth Line now has a date of the first half of 2022 .
”

Crossrail opening delayed until 2022 and extra £1.1bn needed to finish project
.
The opening of London’s new Crossrail underground line has been delayed until 2022 and an extra £1.1bn is needed to complete the project, Crossrail Ltd said today.
Crossrail said the central section of the Elizabeth Line between Paddington and Abbey Wood will be ready to open in the first half of 2022.
Crossrail has faced severe delays and budget blowouts over the past decade.
The line – which will connect Reading and Heathrow in the west to Shenfield and Abbey Wood in the east – was supposed to be open in December 2018 and a cost of £14.9bn.
Last year bosses pushed back the expected opening date to late 2020.
Crossrail said today that the project could run up to £1.1bn above the financing package agreed in December 2018 (£450m more than the upper end of the range announced in November 2019).
Crossrail chief executive Mark Wild said: “Delivery of the Elizabeth line is now in its complex final stages and is being completed at a time of great uncertainty due to the risk and potential impacts of further covid outbreaks.
“We are working tirelessly to complete the remaining infrastructure works so that we can fully test the railway and successfully transition the project as an operational railway to Transport for London.”
Andy Byford, London’s transport commissioner, said: “It is very disappointing to receive confirmation from Crossrail Ltd that their plan for opening the Elizabeth Line now has a date of the first half of 2022.”
Shaun Bailey, Conservative candidate for mayor, said: “Crossrail has been delayed, again, to 2022 and at an extra cost to taxpayers of nearly £5bn in overruns and lost revenue. Thanks to Sadiq Khan’s negligence and mismanagement, Londoners will have to wait longer on overcrowded trains while our city’s economic recovery after covid will be slower and weaker as a result of having this necessary infrastructure delayed. London deserves better, commuters deserve better.”


cityam--2020-08-21--Number of UK workers on furlough falls to 6.8m

The number of UK employees on furlough fell from highs of almost 10m to 6.8m at the end of June as the coronavirus lockdown eased and staff returned to work .
The latest government statistics showed that the number of people being paid through the coronavirus job retention scheme dropped sharply in June as some businesses , such as non-essential retailers , were allowed to reopen .
In total 9.6m employments , totalling 32 per cent of eligible jobs , were furloughed between March and June .
The claims were made by 1.16m employers , with 61 per cent of @ @ @ @ @ @ @ food services sector , which has been one of the hardest hit industries due to the closure of hotels and restaurants , had the highest furlough rate of 77 per cent .
The wholesale and retail sector , which was forced to close all non-essential stores during the UK coronavirus lockdown , furloughed the highest number of employees , at more than 1.9m .
Men have been furloughed at a higher rate than women , at 34 per cent and 29 per cent respectively .
The coronavirus job retention scheme saw the government @ @ @ @ @ @ @ the wages of temporarily laid off workers .
The furlough scheme will come to an end on 31 October , with the government offering firms a £1,000 bonus for each employee that is kept on until at least January next year .
However experts have warned that the end of the scheme will spark a surge of redundancies , with leisure , nightlife , hospitality and events businesses expected to face the brunt of job losses .
Read more : Cut National Insurance tax after furlough scheme ends , says BCC boss The @ @ @ @ @ @ @ this morning , found that optimism remained low this month .
GfK client strategy director Joe Staton said : “ Employment is now the big issue because the pandemic has ended years of job security .
”

Number of UK workers on furlough falls to 6.8m
The number of UK employees on furlough fell from highs of almost 10m to 6.8m at the end of June as the coronavirus lockdown eased and staff returned to work.
The latest government statistics showed that the number of people being paid through the coronavirus job retention scheme dropped sharply in June as some businesses, such as non-essential retailers, were allowed to reopen.
In total 9.6m employments, totalling 32 per cent of eligible jobs, were furloughed between March and June. The claims were made by 1.16m employers, with 61 per cent of eligible businesses claiming.
The accommodation and food services sector, which has been one of the hardest hit industries due to the closure of hotels and restaurants, had the highest furlough rate of 77 per cent.
The wholesale and retail sector, which was forced to close all non-essential stores during the UK coronavirus lockdown, furloughed the highest number of employees, at more than 1.9m.
Men have been furloughed at a higher rate than women, at 34 per cent and 29 per cent respectively.
The coronavirus job retention scheme saw the government cover up to 80 per cent of the wages of temporarily laid off workers.
The furlough scheme will come to an end on 31 October, with the government offering firms a £1,000 bonus for each employee that is kept on until at least January next year.
However experts have warned that the end of the scheme will spark a surge of redundancies, with leisure, nightlife, hospitality and events businesses expected to face the brunt of job losses.
The latest GfK consumer confidence survey, published this morning, found that optimism remained low this month.
GfK client strategy director Joe Staton said: “Employment is now the big issue because the pandemic has ended years of job security.”


cityam--2020-08-21--UK businesses grow at fastest rate in seven years as economy reopens

The UK economy bounced back sharply in August after coronavirus restrictions were lifted , with a closely-watched measure of growth hitting its highest level in almost seven years .
However , companies slashed jobs at the fastest pace since May as they adjusted to life during the pandemic , in a worrying sign of what could turn into a wave of unemployment .
Read more : UK ’ s public debt pile tops £2 trillion for first time ever The IHS Markit/Cips composite purchasing managers ’ index ( PMI ) soared to 60.3 in August from 57 in July , @ @ @ @ @ @ @ highest score in almost seven years , it was well above the 50 mark that indicates expansion and better than analysts ’ expectations of 57.1 .
“ There were encouraging signs that customer-facing service providers have started to catch up with the rebound seen earlier this summer across the wider economy , ” said Tim Moore , economics director at data firm IHS Markit .
The survey suggested the government was successful in spurring the UK ’ s consumption-focused economy this month .
In July it revealed “ eat out to help out @ @ @ @ @ @ @ .
And it slashed VAT for the hospitality and tourism sectors .
Figures this week estimated that Britons had used the discount scheme 35m times .
However , companies slashed jobs in August at the fastest pace since May , IHS Markit said .
Despite the pick-up in growth , the UK economy is nowhere near the size it was before coronavirus hit .
Firms said they cut jobs in response to lower demand and the need to reduce costs .
Read more : UK retail sales climb above pre-pandemic levels in July @ @ @ @ @ @ @ , the Chartered Institute of Procurement & Supply , said : “ Any celebration is premature.
” “ Firms moved from the protection of furlough schemes to the harsh reality of job shedding.
” Howard Archer , chief economic adviser to the EY Item Club , said the PMI survey showed the economy picking up markedly , “ boding well for third-quarter growth prospects ” .
The PMI survey , which questions company managers , showed that new orders grew for the second month running in August .
Meanwhile , companies reported households @ @ @ @ @ @ @ , economists worry that a wave of unemployment could derail the recovery .
Chancellor Rishi Sunak has committed to winding down the job retention scheme , which has supported more than 9m jobs , in October .
Firms reported that part of the reason they laid off workers so quickly in August was to cut costs before the end of the furlough scheme .
Business groups and opposition parties have called for further support for employment .
Read more : UK unemployment : 730,000 Brits lose their jobs in lockdown Mike Cherry , @ @ @ @ @ @ @ Businesses , today said : “ After months of measures to ensure job and business survival , the next stage is about how we can grow once again to aid business and job creation.
” Ruth Gregory , senior UK economist at Capital Economics , said rising joblessness poses a threat to the economy .
She predicted the summer rebound “ will give way to a much slower recovery in the second half of this year ” .

UK businesses grow at fastest rate in seven years as economy reopens
Hospitality chiefs have called for more clarity as the government is expected to delay so-called “freedom day” by four weeks.
The UK economy bounced back sharply in August after coronavirus restrictions were lifted, with a closely-watched measure of growth hitting its highest level in almost seven years.
However, companies slashed jobs at the fastest pace since May as they adjusted to life during the pandemic, in a worrying sign of what could turn into a wave of unemployment.
Read more: UK’s public debt pile tops £2 trillion for first time ever
The IHS Markit/Cips composite purchasing managers’ index (PMI) soared to 60.3 in August from 57 in July, according to an early estimate.
The highest score in almost seven years, it was well above the 50 mark that indicates expansion and better than analysts’ expectations of 57.1.
“There were encouraging signs that customer-facing service providers have started to catch up with the rebound seen earlier this summer across the wider economy,” said Tim Moore, economics director at data firm IHS Markit.
Government spurs services sector but unemployment booms
The survey suggested the government was successful in spurring the UK’s consumption-focused economy this month. In July it revealed “eat out to help out” discount vouchers for restaurants in August. And it slashed VAT for the hospitality and tourism sectors.
Figures this week estimated that Britons had used the discount scheme 35m times.
However, companies slashed jobs in August at the fastest pace since May, IHS Markit said.
Despite the pick-up in growth, the UK economy is nowhere near the size it was before coronavirus hit. Firms said they cut jobs in response to lower demand and the need to reduce costs.
Read more: UK retail sales climb above pre-pandemic levels in July
Duncan Brock, group director at Cips, the Chartered Institute of Procurement & Supply, said: “Any celebration is premature.”
“Firms moved from the protection of furlough schemes to the harsh reality of job shedding.”
August PMI ‘bodes well’ for UK economy
Howard Archer, chief economic adviser to the EY Item Club, said the PMI survey showed the economy picking up markedly, “boding well for third-quarter growth prospects”.
The PMI survey, which questions company managers, showed that new orders grew for the second month running in August. Meanwhile, companies reported households were more willing to spend.
However, economists worry that a wave of unemployment could derail the recovery. Chancellor Rishi Sunak has committed to winding down the job retention scheme, which has supported more than 9m jobs, in October.
Firms reported that part of the reason they laid off workers so quickly in August was to cut costs before the end of the furlough scheme.
Business groups and opposition parties have called for further support for employment.
Mike Cherry, the chair of the Federation of Small Businesses, today said: “After months of measures to ensure job and business survival, the next stage is about how we can grow once again to aid business and job creation.”
Ruth Gregory, senior UK economist at Capital Economics, said rising joblessness poses a threat to the economy. She predicted the summer rebound “will give way to a much slower recovery in the second half of this year”.


cityam--2020-08-21--Maintain a healthy body and heart with vitamins

Nutrition and vitamin intake is very important for cardiovascular wellbeing and health , as your overall health can have a @ @ @ @ @ .
Vitamin C can be found in oranges and other citrus fruits ; it strengthens @ @ @ @ @ help your body fight cold-causing germs .
Vitamin D helps to keep bones and muscles @ @ @ @ @ by your body when exposed to sunlight , and it can be found in foods @ @ @ @ @ oily fish , and eggs .
Taking supplements is a useful way of ensuring your @ @ @ @ @ variety of vitamins .
Implementing a consistent vitamin intake in your diet can dramatically increase @ @ @ @ @ If you ’ re concerned about your health , contact consultant in cardiology , Dr. @ @ @ @ @ a consultation at riyazkaba @ gmail.com

Sponsored Ad Feature is produced by an advertiser with the specific intent to promote a product and is not produced by the City A.M. team.
Maintain a healthy body and heart with vitamins
Nutrition and vitamin intake is very important for cardiovascular wellbeing and health, as your overall health can have a big impact on your heart.
Vitamin C can be found in oranges and other citrus fruits; it strengthens the immune system and can help your body fight cold-causing germs.
Vitamin D helps to keep bones and muscles healthy, and is produced by your body when exposed to sunlight, and it can be found in foods such as red meats, oily fish, and eggs. Taking supplements is a useful way of ensuring your body is getting the right variety of vitamins. Implementing a consistent vitamin intake in your diet can dramatically increase your health and wellbeing.
If you’re concerned about your health, contact consultant in cardiology, Dr. Riyaz A. Kaba, for a consultation at riyazkaba@gmail.com


cityam--2020-08-21--Enjoy the benefits of a foam roller

Enjoy the benefits of a foam roller

Foam rollers can be extremely useful tools for anyone from hardcore sportspeople to average gym goers .
Once relegated to @ @ @ @ @ or mistaken for fluorescent pool toys , there is a new breed of high-quality rollers @ @ @ @ @ athletes .
They apply targeted pressure to muscle groups and joints that can take strain @ @ @ @ @ launch in 2016 , BackBaller has become the go-to foam roller for many of the @ @ @ @ @ teams , including Manchester City FC .
All the guesswork is removed by a bespoke @ @ @ @ @ most important muscle groups for a myofascial release .
These rollers are made from high @ @ @ @ @ contoured to minimise spinal contact .
Each roller is fitted with steel ball bearings and @ @ @ @ @ ergonomic design — plus they are compact enough for travel as well as home use @

Sponsored Ad Feature is produced by an advertiser with the specific intent to promote a product and is not produced by the City A.M. team.
Enjoy the benefits of a foam roller
Foam rollers can be extremely useful tools for anyone from hardcore sportspeople to average gym goers.
Once relegated to the dusty corners of gyms or mistaken for fluorescent pool toys, there is a new breed of high-quality rollers providing support and relief for athletes. They apply targeted pressure to muscle groups and joints that can take strain during exercise.
Since its launch in 2016, BackBaller has become the go-to foam roller for many of the world’s leading sports teams, including Manchester City FC. All the guesswork is removed by a bespoke 16-step program that targets the most important muscle groups for a myofascial release. These rollers are made from high density EVA foam and are contoured to minimise spinal contact. Each roller is fitted with steel ball bearings and neoprene grip pads in an ergonomic design — plus they are compact enough for travel as well as home use.
BackBaller.com


cityam--2020-08-21--From protein to plastics - EU funding continues to flow (for now)

Portugal ’ s off the list .
Croatia ’ s on the list .
Spain and France have been on the list for a while .
As far as Europe is concerned , the headlines are dominated by the latest quarantine rules for people returning to Britain from holiday hotspots .
It ’ s tough to keep track of the changing rules and timings .
On a similar note , other Europe-related deadlines are looming with significance to UK-based innovators and investors – UK start-ups ’ eligibility for grants under European Union ( EU ) funding schemes .
Rather like @ @ @ @ @ @ @ of Calais , it ’ s a case of inching towards an exit from the Continent .
Slowly but surely UK entities ’ eligibility to apply for ( and therefore potentially win ) EU innovation funding is receding as the two sides ’ negotiators strive to agree an overall post-Brexit deal .
One of the highest profile EU funding programmes is Horizon 2020 , which ultimately seeks to improve Europe ’ s success at creating world-leading science-based innovative companies .
UK entities continue to be eligible for grants until the closure of its @ @ @ @ @ @ @ 2014-2020 ( successful UK applicants would be entitled to receive grant funding until the final closure of their projects , even if the closure date is after the end of the Brexit transition period ) .
UK authorities – such UK Research & Innovation and central government – provide summary updates as the political negotiations continue , with the 541-page ‘ Withdrawal Agreement ’ the legal backdrop .
But the Brexit clock is ticking and UK eligibility is falling to reflect the political reality : as of 1 February 2020 , for example @ @ @ @ @ @ @ eligible to apply for equity support from the European Innovation Council ( EIC ) ‘ Accelerator ’ initiative .
Nonetheless , EU grants to UK businesses do – for now – keep coming .
Successful applicants in the latest round of Accelerator funding were announced last month , including two British start-ups – Deep Branch Biotechnology of Nottingham and ReVentas of Scotland – among a total of 64 projects receiving €307m ( £276m ) in total .
Deep Branch is a biotech company using microbes to convert carbon-dioxide from industrial emissions into high-value @ @ @ @ @ @ @ The company is leading project called ‘ REACT-FIRST ’ , described as the UK ’ s first scalable route to sustainable protein generation that captures carbon dioxide released from bio-energy generation at power stations .
Earlier this year , it also secured a £3m Innovate UK grant to support the launch of REACT-FIRST , a consortium of ten industry and academic partners including Drax and Sainsbury ’ s .
REACT-FIRST will obtain critical data about a new single-cell protein , called Proton , used in fish and poultry feed , which has the @ @ @ @ @ @ @ aquaculture and poultry industries , the company says .
Its EU funding will help Deep Branch to scale up production .
“ The EIC is important to Deep Branch and the work of REACT-FIRST – which are focused on reducing emissions globally , ” Peter Rowe , chief executive and co-founder , tells City AM .
“ Financial support from investors , but especially in the form of grants , is vital for start-ups , particularly tech and biotech programmes , which often involve processes that are capital intensive .
Rowe believes that @ @ @ @ @ @ @ is of heightened importance for early-stage enterprises such as his own .
“ Public funding has a crucial impact on jumpstarting innovation , particularly while ripple effects of the COVID-19 crisis continue to complicate global aquaculture supply chains and clean growth , ” he says .
“ A prolonged slump derails crucial private investments in biotech that the aquaculture industry needs to fulfil food security initiatives .
Without public funding , this project would not accelerate at this decisive time , when the world is experiencing unprecedented challenges.
” The UK ’ s @ @ @ @ @ @ @ , a start-up spun out of an established plastics firm , Impact Solutions .
ReVentas reinvents polymers by using an innovative technology to return waste plastics to ‘ virgin-like ’ quality .
Similar to Deep Branch , its EU funding will allow the business to scale up its technology , as well as demonstrate and validate it prior to full commercialisation .
Tom Rose , chief executive , tells City AM : “ This is the first European grant we ’ ve received and it will be instrumental in scaling the technology and @ @ @ @ @ @ @ than £50m revenue by 2028.
” The funding will be used to build a larger reactor for its process and allow the company to begin ‘ seeding the market ’ with material .
“ The EIC Horizon 2020 programme has been a fantastic avenue for UK companies to seek funding and develop innovative and ground-breaking technologies .
It offers the opportunity particularly for small companies to engage with the wider EU R & D network and collaborate across the EU market place in unique way .
It ’ s going to be interesting @ @ @ @ @ @ @ to offer similar opportunities in the future.
” This is the million dollar ( euro ) question .
Could Rowe and Rose ’ s entrepreneurial enterprises be the final UK projects to benefit from the EIC Accelerator ?
There is one further ‘ cut-off ’ ( application deadline ) planned this year , in October , so – like cars inching towards the Calais harbour-front – there ’ s just a little more mileage in the EU funding game yet .
But beyond then ?
We shall see .

What is City Talk? City Talk allows marketers to connect directly with our audience by publishing content on cityam.com
From protein to plastics – EU funding continues to flow (for now)
Deep Branch Biotechnology: the Nottingham-based company is an innovative UK start-up that has recently received EU funding.
Portugal’s off the list. Croatia’s on the list. Spain and France have been on the list for a while. As far as Europe is concerned, the headlines are dominated by the latest quarantine rules for people returning to Britain from holiday hotspots.
It’s tough to keep track of the changing rules and timings. On a similar note, other Europe-related deadlines are looming with significance to UK-based innovators and investors – UK start-ups’ eligibility for grants under European Union (EU) funding schemes.
Rather like queuing in a car approaching the Port of Calais, it’s a case of inching towards an exit from the Continent. Slowly but surely UK entities’ eligibility to apply for (and therefore potentially win) EU innovation funding is receding as the two sides’ negotiators strive to agree an overall post-Brexit deal.
Clock ticks on EU-UK political negotiations
One of the highest profile EU funding programmes is Horizon 2020, which ultimately seeks to improve Europe’s success at creating world-leading science-based innovative companies.
UK entities continue to be eligible for grants until the closure of its current, seven-year span, which is 2014-2020 (successful UK applicants would be entitled to receive grant funding until the final closure of their projects, even if the closure date is after the end of the Brexit transition period).
UK authorities – such UK Research & Innovation and central government – provide summary updates as the political negotiations continue, with the 541-page ‘Withdrawal Agreement’ the legal backdrop.
But the Brexit clock is ticking and UK eligibility is falling to reflect the political reality: as of 1 February 2020, for example, UK entities have no longer been eligible to apply for equity support from the European Innovation Council (EIC) ‘Accelerator’ initiative.
Nonetheless, EU grants to UK businesses do – for now – keep coming. Successful applicants in the latest round of Accelerator funding were announced last month, including two British start-ups – Deep Branch Biotechnology of Nottingham and ReVentas of Scotland – among a total of 64 projects receiving €307m (£276m) in total.
Financial support ‘vital’ for start-ups
Deep Branch is a biotech company using microbes to convert carbon-dioxide from industrial emissions into high-value proteins for use in animal feed.
The company is leading project called ‘REACT-FIRST’, described as the UK’s first scalable route to sustainable protein generation that captures carbon dioxide released from bio-energy generation at power stations. Earlier this year, it also secured a £3m Innovate UK grant to support the launch of REACT-FIRST, a consortium of ten industry and academic partners including Drax and Sainsbury’s.
REACT-FIRST will obtain critical data about a new single-cell protein, called Proton, used in fish and poultry feed, which has the potential to “sustainably transform” the aquaculture and poultry industries, the company says.
Its EU funding will help Deep Branch to scale up production. “The EIC is important to Deep Branch and the work of REACT-FIRST – which are focused on reducing emissions globally,” Peter Rowe, chief executive and co-founder, tells City AM. “Financial support from investors, but especially in the form of grants, is vital for start-ups, particularly tech and biotech programmes, which often involve processes that are capital intensive.
Rowe believes that public funding, whatever its source, is of heightened importance for early-stage enterprises such as his own. “Public funding has a crucial impact on jumpstarting innovation, particularly while ripple effects of the COVID-19 crisis continue to complicate global aquaculture supply chains and clean growth,” he says. “A prolonged slump derails crucial private investments in biotech that the aquaculture industry needs to fulfil food security initiatives. Without public funding, this project would not accelerate at this decisive time, when the world is experiencing unprecedented challenges.”
Grant ‘instrumental’ to scale technology
The UK’s other EIC Accelerator grant winner was ReVentas, a start-up spun out of an established plastics firm, Impact Solutions.
ReVentas reinvents polymers by using an innovative technology to return waste plastics to ‘virgin-like’ quality. Similar to Deep Branch, its EU funding will allow the business to scale up its technology, as well as demonstrate and validate it prior to full commercialisation.
Tom Rose, chief executive, tells City AM: “This is the first European grant we’ve received and it will be instrumental in scaling the technology and business from a start-up to generating more than £50m revenue by 2028.” The funding will be used to build a larger reactor for its process and allow the company to begin ‘seeding the market’ with material.
“The EIC Horizon 2020 programme has been a fantastic avenue for UK companies to seek funding and develop innovative and ground-breaking technologies. It offers the opportunity particularly for small companies to engage with the wider EU R&D network and collaborate across the EU market place in unique way. It’s going to be interesting to see how UK agencies step up to offer similar opportunities in the future.”
This is the million dollar (euro) question. Could Rowe and Rose’s entrepreneurial enterprises be the final UK projects to benefit from the EIC Accelerator?
There is one further ‘cut-off’ (application deadline) planned this year, in October, so – like cars inching towards the Calais harbour-front – there’s just a little more mileage in the EU funding game yet. But beyond then? We shall see.


cityam--2020-08-21--Wall Street ticks up as FTSE 100 sinks into red amid Covid-19 case worries

Wall Street crept marginally higher this afternoon and the FTSE 100 dropped again as investors weighed up the global economic recovery and pockets of rising coronavirus cases .
London ’ s blue-chip index closed down almost 0.19 per cent at 6,001 points , while the FTSE 250 climbed 0.24 per cent .
Read more : Apple becomes first US company to reach $ 2 trillion valuation US markets opened in the red before reversing their fortunes to make marginal gains .
The S & P 500 rose 0.14 per cent , the Dow Jone was trading 0.21 per cent higher @ @ @ @ @ @ @ per cent .
Germany ’ s Dax was down nearly one per cent while France ’ s CAC 40 was 0.9 per cent lower .
China ’ s CSI 300 climbed 0.9 per cent .
Japan ’ s Nikkei gained 0.2 per cent but Hong Kong ’ s Hang Seng rose 1.2 per cent .
The dollar was roughly flat against a basket of other currencies .
The pound was slipped to $ 1.31 on bad news emanating from the Brexit talks .
Neil Wilson chief market analyst at Markets.com said : “ @ @ @ @ @ @ @ a view to the week lows being tested after Brexit talks seem to have gone nowhere .
The two sides are still too far apart .
Specifically , the EU wants to agree on fisheries and state aid rules before making progress on anything else .
EU demands for a level playing field are non-negotiable if there is to be more than a low-level agreement.
” US stocks continued their record-breaking run yesterday .
The tech-heavy Nasdaq hit a new all-time closing high , reflecting the huge amounts of investor cash being poured @ @ @ @ @ @ @ and Amazon .
US stocks initially languished in the red when markets opened in New York this afternoon , but soon climbed back to modest gains .
The turnaround came after new data showed the US private sector grew at the fastest pace in a year and a half .
The IHS Markit composite purchasing managers ’ index – a respected gauge of business output – rose to 54.7 in August from 50.3 in July .
“ The market will move higher , but it will be very slow and irregular one , @ @ @ @ @ @ @ vaccine , ” said Chuck Lieberman , chief investment officer at Advisors Capital Management .
“ We ’ re still gradually reopening , and setbacks are on their way .
It makes people concerned at times.
” Wall Street was also propped up by Apple ’ s shares , which gained two per cent in a fourth consecutive day of gains .
The recent rally has taken the tech giant ’ s valuation to record highs , with Apple becoming the first US company to reach a $ 2 trillion market capitalisation .
@ @ @ @ @ @ @ the US Federal Reserve on Wednesday .
The central bank warned that coronavirus is “ posing considerable risks to the economic outlook ” .
However , the Fed ’ s words seemed to do more damage to European stocks than US .
The FTSE 100 shed 1.6 per cent yesterday .
On top of worries about the economy , France reported 4,770 new cases on Thursday , the highest since mid-April .
Spain recorded 3,350 new infections and Germany recorded more than 1,500 inflections in the 24 hours through to Friday morning .
@ @ @ @ @ @ @ 100 could pick itself back up after Thursday ’ s big stumble then Friday has only brought disappointment as the index slipped back modestly to trade below the 6,000 mark for the first time since late July , ” said AJ Bell investment director Russ Mould .
“ It feels like the market is gradually coming to the realisation that the world is going to have to live with Covid-19 for longer as countries which have emerged from lockdown experience localised flare-ups and a general increase in infections .
Yesterday , figures from @ @ @ @ @ @ @ claims had risen above the 1m mark again .
Investors hope the Republicans and Democrats can soon thrash out a new stimulus deal .
In the UK , data this morning showed retail sales climbed about their pre-coronavirus level in July .
Separate data showed that UK public debt topped £2 trillion for the first time in history .
However , Ruth Gregory of Capital Economics said retail sales are likely to slow “ now that the initial boost from re-opening has passed and fiscal support measures are being phased out ” .

Wall Street ticks up as FTSE 100 sinks into red amid Covid-19 case worries
Wall Street crept marginally higher this afternoon and the FTSE 100 dropped again as investors weighed up the global economic recovery and pockets of rising coronavirus cases.
London’s blue-chip index closed down almost 0.19 per cent at 6,001 points, while the FTSE 250 climbed 0.24 per cent.
US markets opened in the red before reversing their fortunes to make marginal gains.
The S&P 500 rose 0.14 per cent, the Dow Jone was trading 0.21 per cent higher and and the Nasdaq Composite gained 0.36 per cent.
Germany’s Dax was down nearly one per cent while France’s CAC 40 was 0.9 per cent lower.
Asian stocks rose overnight, however, buoyed by Wall Street’s seemingly unstoppable rise.
China’s CSI 300 climbed 0.9 per cent. Japan’s Nikkei gained 0.2 per cent but Hong Kong’s Hang Seng rose 1.2 per cent.
The dollar was roughly flat against a basket of other currencies. The pound was slipped to $1.31 on bad news emanating from the Brexit talks.
Neil Wilson chief market analyst at Markets.com said: “Sterling fell back to session lows with a view to the week lows being tested after Brexit talks seem to have gone nowhere. The two sides are still too far apart. Specifically, the EU wants to agree on fisheries and state aid rules before making progress on anything else. EU demands for a level playing field are non-negotiable if there is to be more than a low-level agreement.”
US stocks continued their record-breaking run yesterday. The tech-heavy Nasdaq hit a new all-time closing high, reflecting the huge amounts of investor cash being poured into big tech names such as Apple and Amazon.
Wall Street buoyed by upbeat data
US stocks initially languished in the red when markets opened in New York this afternoon, but soon climbed back to modest gains.
The turnaround came after new data showed the US private sector grew at the fastest pace in a year and a half.
The IHS Markit composite purchasing managers’ index – a respected gauge of business output – rose to 54.7 in August from 50.3 in July.
“The market will move higher, but it will be very slow and irregular one, at least until there’s a vaccine,” said Chuck Lieberman, chief investment officer at Advisors Capital Management.
“We’re still gradually reopening, and setbacks are on their way. It makes people concerned at times.”
Wall Street was also propped up by Apple’s shares, which gained two per cent in a fourth consecutive day of gains.
The recent rally has taken the tech giant’s valuation to record highs, with Apple becoming the first US company to reach a $2 trillion market capitalisation.
Coronavirus cases spook FTSE 100
Wall Street shrugged off worrying words from the US Federal Reserve on Wednesday. The central bank warned that coronavirus is “posing considerable risks to the economic outlook”.
However, the Fed’s words seemed to do more damage to European stocks than US. The FTSE 100 shed 1.6 per cent yesterday.
On top of worries about the economy, France reported 4,770 new cases on Thursday, the highest since mid-April. Spain recorded 3,350 new infections and Germany recorded more than 1,500 inflections in the 24 hours through to Friday morning.
“If there was hope the FTSE 100 could pick itself back up after Thursday’s big stumble then Friday has only brought disappointment as the index slipped back modestly to trade below the 6,000 mark for the first time since late July,” said AJ Bell investment director Russ Mould.
“It feels like the market is gradually coming to the realisation that the world is going to have to live with Covid-19 for longer as countries which have emerged from lockdown experience localised flare-ups and a general increase in infections.
Yesterday, figures from the US showed that weekly new jobless claims had risen above the 1m mark again. Investors hope the Republicans and Democrats can soon thrash out a new stimulus deal.
In the UK, data this morning showed retail sales climbed about their pre-coronavirus level in July. Separate data showed that UK public debt topped £2 trillion for the first time in history.
However, Ruth Gregory of Capital Economics said retail sales are likely to slow “now that the initial boost from re-opening has passed and fiscal support measures are being phased out”.


cityam--2020-08-21--Retailer AO to create 650 new jobs due to 'sustained' surge in online shopping

Online electricals store AO will create 650 new UK jobs as it ramps up growth plans following a sustained surge in demand due to the coronavirus pandemic .
The firm said it is preparing for “ significant growth ” after it saw an influx of customers shopping online during the Covid-19 crisis .
Read more : UK retail sales climb above pre-pandemic levels in July The new roles will bolster AO ’ s 3,000-strong team , and will be created across AO ’ s retail , mobile , tech , financial services and logistics divisions .
Among the new jobs @ @ @ @ @ @ @ software developers , a fridge recycling shift coordinator and a TikTok expert .
The coronavirus pandemic has accelerated changing customer behaviour , with more consumers shopping online due to restrictions on movement and the closure of non-essential retailers .
AO said it had seen “ five years of change within five weeks ” .
The retailer expects the shift to online to be “ sustained ” rather than a short spike during the UK coronavirus lockdown .
The company said yesterday that year-on-year revenue in the UK jumped 58.9 per cent to £401.3m @ @ @ @ @ @ @ £67m ) in Germany for the four months ended 31 July .
The rapid move towards online shopping , and the closure of physical stores , has seen high street retailers scramble to refocus their businesses .
Thousands of high street jobs have already been cut , with John Lewis , Boots and M & S among the big retailers to announce redundancies .
AO will hire new staff across the UK in locations including Manchester , Bolton , Telford , Thatcham and Crew , as well as home-working positions .
AO founder @ @ @ @ @ @ @ : “ AO went into Covid-19 fit and focused on the future .
Read more : Retail bosses square up in £6.5bn bidding war for Asda “ The pandemic accelerated a shift in customer behaviour towards online shopping – we saw five years ’ change in five weeks .
We now have the opportunity to make AO a habit that lasts for our new customers .
“ We ’ re investing to cement the change and prepare for our next phase of growth which includes creating hundreds of new , high quality jobs @ @ @ @ @ @ @ .
”

Retailer AO to create 650 new jobs due to ‘sustained’ surge in online shopping
AO World (Photographer: (Jason Alden) www.jasonalden.com 0781 063 1642)
Online electricals store AO will create 650 new UK jobs as it ramps up growth plans following a sustained surge in demand due to the coronavirus pandemic.
The firm said it is preparing for “significant growth” after it saw an influx of customers shopping online during the Covid-19 crisis.
The new roles will bolster AO’s 3,000-strong team, and will be created across AO’s retail, mobile, tech, financial services and logistics divisions.
Among the new jobs, AO is seeking gas engineers, software developers, a fridge recycling shift coordinator and a TikTok expert.
The coronavirus pandemic has accelerated changing customer behaviour, with more consumers shopping online due to restrictions on movement and the closure of non-essential retailers.
AO said it had seen “five years of change within five weeks”.
The retailer expects the shift to online to be “sustained” rather than a short spike during the UK coronavirus lockdown.
The company said yesterday that year-on-year revenue in the UK jumped 58.9 per cent to £401.3m and 91.5 per cent to €74.3m (£67m) in Germany for the four months ended 31 July.
The rapid move towards online shopping, and the closure of physical stores, has seen high street retailers scramble to refocus their businesses.
Thousands of high street jobs have already been cut, with John Lewis, Boots and M&S among the big retailers to announce redundancies.
AO will hire new staff across the UK in locations including Manchester, Bolton, Telford, Thatcham and Crew, as well as home-working positions.
AO founder and chief executive John Roberts, said: “AO went into Covid-19 fit and focused on the future.
“The pandemic accelerated a shift in customer behaviour towards online shopping – we saw five years’ change in five weeks. We now have the opportunity to make AO a habit that lasts for our new customers.
“We’re investing to cement the change and prepare for our next phase of growth which includes creating hundreds of new, high quality jobs for a diverse range of talented people.”


cityam--2020-08-21--US private sector rebounds in August as states reopen

The US private sector grew at the fastest pace in a year and a half in August , according to preliminary survey data that showed both services and manufacturing expanding strongly .
The IHS Markit composite purchasing managers ’ index – a respected gauge of business output – rose to 54.7 in August from 50.3 in July .
Read more : New US jobless claims back above 1m after surprise jump A score above 50 indicates contraction , and August ’ s figure was the strongest in 18 months , data firm IHS Markit said .
Both the services and @ @ @ @ @ @ @ However , the US economy is far from recovering its pre-coronavirus size after shrinking by a record amount in April .
Data yesterday showed that new jobless claims unexpectedly rose back above 1m last week .
That suggests the economic recovery could yet stumble .
It comes as Republicans and Democrats remain at loggerheads over the next round of economic stimulus .
The two sides are divided on extra unemployment benefits , among other issues .
Earlier this week Republicans floated a stripped-back bill that was unlikely to be supported by Democrats .
@ @ @ @ @ @ @ client demand in August .
Overall , firms said new business rose for the first since February .
The reopening of economies around the world also boosted export orders , the survey showed .
Sian Jones , economist at IHS Markit , said there was a “ renewed increase in sales among service sector firms ” .
She said this “ was welcome news following five months of declines ” .
Read more : UK businesses grow at fastest rate in seven years as economy reopens “ Encouragingly , firms signalled an accelerated @ @ @ @ @ @ @ .
“ Greater new business inflows led to increased pressure on capacity.
” “ However , expectations regarding output over the coming year dipped slightly from July due to uncertainty stemming from the pandemic and the upcoming election .
”

US private sector rebounds in August as states reopen
The US private sector grew at the fastest pace in a year and a half in August, according to preliminary survey data that showed both services and manufacturing expanding strongly.
The IHS Markit composite purchasing managers’ index – a respected gauge of business output – rose to 54.7 in August from 50.3 in July.
A score above 50 indicates contraction, and August’s figure was the strongest in 18 months, data firm IHS Markit said. Both the services and manufacturing sectors beat analysts’ expectations.
However, the US economy is far from recovering its pre-coronavirus size after shrinking by a record amount in April.
Data yesterday showed that new jobless claims unexpectedly rose back above 1m last week. That suggests the economic recovery could yet stumble.
It comes as Republicans and Democrats remain at loggerheads over the next round of economic stimulus.
The two sides are divided on extra unemployment benefits, among other issues. Earlier this week Republicans floated a stripped-back bill that was unlikely to be supported by Democrats.
IHS Markit said company managers reported stronger client demand in August. Overall, firms said new business rose for the first since February.
The reopening of economies around the world also boosted export orders, the survey showed.
Sian Jones, economist at IHS Markit, said there was a “renewed increase in sales among service sector firms”. She said this “was welcome news following five months of declines”.
“Encouragingly, firms signalled an accelerated rise in hiring,” she added. “Greater new business inflows led to increased pressure on capacity.”
“However, expectations regarding output over the coming year dipped slightly from July due to uncertainty stemming from the pandemic and the upcoming election.”


cityam--2020-08-21--Williams F1 team bought by US investment firm Dorilton Capital

Formula One racing team Williams has been bought by US-based investment firm Dorilton Capital in a deal that marks the end of an era for the family-run group .
The team will continue to race and compete under the Williams brand , and will remain at its base at Grove in Oxfordshire .
Read more : Formula One ’ s 2020 outlook downgraded to negative by Moody ’ s The deal received the unanimous support of the board , including 78-year-old founder Sir Frank Williams .
Claire Williams , deputy team principal and Frank ’ s daughter , said : @ @ @ @ @ @ @ an era for Williams as a family owned team , but we know it is in good hands .
“ The sale ensures the team ’ s survival but most importantly will provide a path to success.
” Williams was put up for sale in May as part of a strategic review of the struggling racing team .
Founded in 1977 , Williams is one of the oldest teams in the sport and has racked up 16 titles .
However , it has not won a race since 2012 and finished last in @ @ @ @ @ @ @ also facing a strain on its finances due to its recent run of poor form and the impact of coronavirus , which led to a string of race cancellations .
Williams hailed the takeover as the start of an “ exciting new era ” , stating that its new owner was well positioned to capitalise on new changes in the sport .
All 10 Formula One teams this week signed up to the so-called Concorde Agreement , which is designed to spread revenue more evenly and level the playing field between private teams @ @ @ @ @ @ @ new Concorde Agreement is set to transform the sport and will help address the historical challenges that Williams has faced as an independent constructor , by reducing the financial and on-track disparities between teams and creating a fairer , more competitive sport , ” Williams said in a statement .
Read more : McLaren seals £150m in funding from Bahraini bank Dorilton Capital chairman Matthew Savage said : “ We are delighted to have invested in Williams and we are extremely excited by the prospects for the business .
“ We believe we @ @ @ @ @ @ @ due to our flexible and patient investment style , which will allow the team to focus on its objective of returning to the front of the grid .
”

Williams F1 team bought by US investment firm Dorilton Capital
Formula One racing team Williams has been bought by US-based investment firm Dorilton Capital in a deal that marks the end of an era for the family-run group.
The team will continue to race and compete under the Williams brand, and will remain at its base at Grove in Oxfordshire.
The deal received the unanimous support of the board, including 78-year-old founder Sir Frank Williams.
Claire Williams, deputy team principal and Frank’s daughter, said: “This may be the end of an era for Williams as a family owned team, but we know it is in good hands.
“The sale ensures the team’s survival but most importantly will provide a path to success.”
Williams was put up for sale in May as part of a strategic review of the struggling racing team.
Founded in 1977, Williams is one of the oldest teams in the sport and has racked up 16 titles. However, it has not won a race since 2012 and finished last in the 2019 season.
The team is also facing a strain on its finances due to its recent run of poor form and the impact of coronavirus, which led to a string of race cancellations.
Williams hailed the takeover as the start of an “exciting new era”, stating that its new owner was well positioned to capitalise on new changes in the sport.
All 10 Formula One teams this week signed up to the so-called Concorde Agreement, which is designed to spread revenue more evenly and level the playing field between private teams and their larger rivals.
“The new Concorde Agreement is set to transform the sport and will help address the historical challenges that Williams has faced as an independent constructor, by reducing the financial and on-track disparities between teams and creating a fairer, more competitive sport,” Williams said in a statement.
Dorilton Capital chairman Matthew Savage said: “We are delighted to have invested in Williams and we are extremely excited by the prospects for the business.
“We believe we are the ideal partner for the company due to our flexible and patient investment style, which will allow the team to focus on its objective of returning to the front of the grid.”


cityam--2020-08-21--Ovo pays out £1.2m over SSE's missed smart meter targets

Ovo Energy has paid £1.2m to the industry regulator after SSE Energy Services , which it acquired in January , missed smart meter installation targets .
Energy suppliers are required to meet annual targets to install gas and electricity smart meters , as the government aims to roll out the technology to all homes and small businesses by the middle of next year .
SSE missed last year ’ s target before it was acquired by Ovo , forcing its new owner to shell out £1.2m .
SSE also failed to reach its smart meter targets in 2018 and was @ @ @ @ @ @ @ not take any formal enforcement action against the firm following the payment to its consumer redress fund .
“ Ofgem is closely monitoring suppliers ’ approaches to the rollout of smart meters and will use its discretion to hold suppliers to account if they do not meet their obligations , ” the regulator said as it announced the Ovo fine this morning .
The government has extended the current rollout obligation until 30 June next year due to the disruption caused by the coronavirus pandemic .
A new rollout period will begin on @ @ @ @ @ @ @ drive continuing until mid-2025 .
SSE managing director Tony Keeling said : “ Today ’ s news relates to the reporting year of 2019 , predating Ovo Energy ’ s ownership of SSE Energy Services , which it acquired in 2020 .
Read more : Ovo Energy to cut 2,600 jobs following SSE deal “ Since Ovo ’ s acquisition of SSE Energy Services , we have significantly improved our smart meter rollout programme , to ensure that we can install smart meters in more homes across the UK – a crucial part @ @ @ @ @ @ @ transition to net zero .
“ Ovo Energy has consistently met and exceeded all of its smart meter targets , with over half of its customers currently benefiting from the technology .
”

Ovo pays out £1.2m over SSE’s missed smart meter targets
Ovo Energy has paid £1.2m to the industry regulator after SSE Energy Services, which it acquired in January, missed smart meter installation targets.
Energy suppliers are required to meet annual targets to install gas and electricity smart meters, as the government aims to roll out the technology to all homes and small businesses by the middle of next year.
SSE missed last year’s target before it was acquired by Ovo, forcing its new owner to shell out £1.2m.
SSE also failed to reach its smart meter targets in 2018 and was ordered to pay £700,000.
Ofgem will not take any formal enforcement action against the firm following the payment to its consumer redress fund.
“Ofgem is closely monitoring suppliers’ approaches to the rollout of smart meters and will use its discretion to hold suppliers to account if they do not meet their obligations,” the regulator said as it announced the Ovo fine this morning.
The government has extended the current rollout obligation until 30 June next year due to the disruption caused by the coronavirus pandemic.
A new rollout period will begin on 1 July 2021, with the installation drive continuing until mid-2025.
SSE managing director Tony Keeling said: “Today’s news relates to the reporting year of 2019, predating Ovo Energy’s ownership of SSE Energy Services, which it acquired in 2020.
“Since Ovo’s acquisition of SSE Energy Services, we have significantly improved our smart meter rollout programme, to ensure that we can install smart meters in more homes across the UK – a crucial part of our Plan Zero strategy and the transition to net zero.
“Ovo Energy has consistently met and exceeded all of its smart meter targets, with over half of its customers currently benefiting from the technology.”


cityam--2020-08-22--Back to Business: Merlin Labron-Johnson on how Covid could change hospitality for the better

We talk to London ’ s top chefs about how they are dealing with the strange ‘ new normal ’ .
This week Merlin Labron-Johnson , chef-founder of Osip , speaks about the silver linings he found during lockdown .
Who are you and what do you do ?
I ’ m Merlin Labron-Johnson and I ’ m the chef-owner of a little restaurant called Osip in Bruton , Somerset .
How has coronavirus affected your business over the last four months ?
It closed my restaurant .
We ’ ve had to rethink our whole concept , reduce capacity @ @ @ @ @ @ @ It ’ s a real blow when you consider we ’ d only been open three months and things were going quite well !
We finally reopened last month .
How are you managing the ongoing effects of the virus ?
We have introduced two sittings to our services : we fill the restaurant once , feed everybody , clean down , sanitise and do it again .
It ’ s a bit like a show .
We have taken away all physical menus , don ’ t accept cash , we take @ @ @ @ @ @ @ cleaning schedules .
We ’ ve introduced floor markings to keep people apart at the entrance and sanitiser at every doorway .
We also take prepayment online for the food .
How did you keep sane when the restaurant was closed ?
I took on two plots of land and built two kitchen gardens .
I launched an e-commerce shop and a weekly pop up bakery .
We launched a hamper concept and started doing a takeaway service called ‘ Osip at Home ’ .
It was mental !
We also preserved spring @ @ @ @ @ @ @ for the coming months .
What did you miss most when the dining scene was shut down ?
Going out for a cosy dinner .
The first place I went to eat and drink when lockdown was eased was the village pub .
I drank cider and played pool .
Nothing too glamorous .
Do you think things in the restaurant world will go back to ‘ normal ’ ?
I think there will be lasting change and mostly for the better .
I know from our side , it has allowed us @ @ @ @ @ @ @ about before .
We are far less apologetic about just making the restaurant work for us .
We ’ ve changed our reservations policy , our prices , our menu format , our opening hours , and our staff now have a better work/life balance .
All of that is here to stay and I hope my industry peers have managed to do the same in some capacity .
The silver lining for me has been building the gardens and learning how to grow fruit and vegetables for the restaurant .
• To @ @ @ @ @ @ @ go to osiprestaurant.com

Back to Business: Merlin Labron-Johnson on how Covid could change hospitality for the better
We talk to London’s top chefs about how they are dealing with the strange ‘new normal’. This week Merlin Labron-Johnson, chef-founder of Osip, speaks about the silver linings he found during lockdown.
Who are you and what do you do?
I’m Merlin Labron-Johnson and I’m the chef-owner of a little restaurant called Osip in Bruton, Somerset.
How has coronavirus affected your business over the last four months?
It closed my restaurant. We’ve had to rethink our whole concept, reduce capacity and make redundancies within our team. It’s a real blow when you consider we’d only been open three months and things were going quite well! We finally reopened last month.
How are you managing the ongoing effects of the virus?
We have introduced two sittings to our services: we fill the restaurant once, feed everybody, clean down, sanitise and do it again. It’s a bit like a show. We have taken away all physical menus, don’t accept cash, we take staff temperatures regularly, and have updated cleaning schedules. We’ve introduced floor markings to keep people apart at the entrance and sanitiser at every doorway. We also take prepayment online for the food.
Photograph: Ed Schofield
How did you keep sane when the restaurant was closed?
I took on two plots of land and built two kitchen gardens. I launched an e-commerce shop and a weekly pop up bakery. We launched a hamper concept and started doing a takeaway service called ‘Osip at Home’. It was mental! We also preserved spring and summer fruits, vegetables and herbs for the coming months.
What did you miss most when the dining scene was shut down?
Going out for a cosy dinner. The first place I went to eat and drink when lockdown was eased was the village pub. I drank cider and played pool. Nothing too glamorous.
Do you think things in the restaurant world will go back to ‘normal’?
I think there will be lasting change and mostly for the better. I know from our side, it has allowed us to make changes that we were hesitant about before. We are far less apologetic about just making the restaurant work for us. We’ve changed our reservations policy, our prices, our menu format, our opening hours, and our staff now have a better work/life balance. All of that is here to stay and I hope my industry peers have managed to do the same in some capacity. The silver lining for me has been building the gardens and learning how to grow fruit and vegetables for the restaurant.
• To book a table call 01749 813322 or go to osiprestaurant.com


cityam--2020-08-22--Lotus Esprit S3 review: Driving the coolest Bond car

The first car I ever crashed was a Lotus Esprit .
Rounding a corner too quickly , it flipped onto its side , bounced between the bannisters , then cartwheeled down the stairs .
The Matchbox model in question was ‘ Wet Nellie ’ , James Bond ’ s submarine supercar from The Spy Who Loved Me .
Fittingly , I think it ended up in our garden pond .
My next encounter with the Esprit came as a teen .
I wasted countless hours bashing my joystick ( not a euphemism ) playing Lotus Esprit Turbo Challenge on the @ @ @ @ @ @ @ young , I ’ ve finally been invited to drive a real one .
Needless to say , I ’ ll be keeping well away from ponds .
And , um , stairs .
Launched in 1976 , the Esprit was assembled in Norfolk for some 28 years , finally bowing out in 2004 .
But the rumour is that Lotus , freshly buoyed by Chinese investment , will reveal a long-awaited new Esprit in 2021 – complete with V6 hybrid power and a six-figure price tag .
The car I ’ m @ @ @ @ @ @ @ ( Series 3 ) , resplendent in red with gold deep-dish alloys and white-lettered tyres .
It ’ s cooler than Roger Moore ’ s arched eyebrow .
It looks even better in the metal , too : a low-slung wedge of sharp creases and aggressive angles .
Except the Lotus isn ’ t made of metal : its body panels are fibreglass , hung on a galvanised steel frame .
There are two seats , fully independent suspension and a mid-mounted engine , but not everything is quite so exotic .
That @ @ @ @ @ @ @ tail lights come from a Rover SD1 and the cabin is awash with Morris Marina switchgear .
Despite the parts-bin pilfering , the Esprit still feels special from behind its two-spoke steering wheel .
The hammock-like seats are so laid-back you ’ re almost lying down , while the wraparound instrument pod looks futuristic ( or certainly did in the early 1980s ) .
It ’ s surprisingly luxurious , with plush leather swathing every surface : a stark contrast to the stripped-out Lotuses of today .
Oh , and the choke lever @ @ @ @ @ @ @ console – doubled up as the cement sprayer in 007 ’ s car .
I ’ m already sold .
On the move , the Esprit is initially less convincing .
Its five-speed manual ’ box needs a weighty shove when cold and the throttle and brake pedals are perilously close together .
The 2.2-litre engine also sounds rather prosaic , even as the revs rise .
It never howls like a Porsche flat-six or wails like a Ferrari V8 .
Plus , its performance won ’ t trouble a modern hot hatch @ @ @ @ @ @ @ 0-62mph in 6.9 seconds and 139mph flat-out .
Straight-line speed has never been this car ’ s forte , though .
It comes alive on flowing B-roads , with the beautifully wrought balance that Lotus was , and still is , famous for .
The steering is nuanced and precise , the brakes are better than most cars of this era , and turn-in feels firm and focused .
The Esprit ’ s modest dimensions are a real boon , too .
Smaller than the current Lotus Evora , it darts down hedge-lined @ @ @ @ @ @ @ would fear to tread .
The Esprit , then , is still a pukka driver ’ s car .
With buttocks inches from the Tarmac and scarcely any sense of inertia , it feels like piloting a Star Wars speeder – another toy that littered my bedroom floor in 1983 .
Yet removing my rose-tinted specs for a moment , it ’ s also a surefire money-pit that will demand constant attention to keep sweet .
We all know the ‘ Lots Of Trouble , Usually Serious ’ acronym , after all .
@ @ @ @ @ @ @ , I ’ d suggest hiring an Esprit rather than buying one .
This car is available at RNG Classics in Reigate , priced from £249 .
Thanks to RNG Classics ( @ rngclassics ) .
Photos by Charlie B .
( @ charlieb.photography ) .
Tim Pitt works for motoringresearch.com

Lotus Esprit S3 review: Driving the coolest Bond car
The first car I ever crashed was a Lotus Esprit. Rounding a corner too quickly, it flipped onto its side, bounced between the bannisters, then cartwheeled down the stairs.
The Matchbox model in question was ‘Wet Nellie’, James Bond’s submarine supercar from The Spy Who Loved Me. Fittingly, I think it ended up in our garden pond.
My next encounter with the Esprit came as a teen. I wasted countless hours bashing my joystick (not a euphemism) playing Lotus Esprit Turbo Challenge on the Amiga. Now, at 41 years young, I’ve finally been invited to drive a real one. Needless to say, I’ll be keeping well away from ponds. And, um, stairs.
Launched in 1976, the Esprit was assembled in Norfolk for some 28 years, finally bowing out in 2004. But the rumour is that Lotus, freshly buoyed by Chinese investment, will reveal a long-awaited new Esprit in 2021 – complete with V6 hybrid power and a six-figure price tag.
The car I’m experiencing today is a 1983 Esprit S3 (Series 3), resplendent in red with gold deep-dish alloys and white-lettered tyres. It’s cooler than Roger Moore’s arched eyebrow.
It looks even better in the metal, too: a low-slung wedge of sharp creases and aggressive angles. Except the Lotus isn’t made of metal: its body panels are fibreglass, hung on a galvanised steel frame. There are two seats, fully independent suspension and a mid-mounted engine, but not everything is quite so exotic. That motor only musters four cylinders, the tail lights come from a Rover SD1 and the cabin is awash with Morris Marina switchgear.
Despite the parts-bin pilfering, the Esprit still feels special from behind its two-spoke steering wheel. The hammock-like seats are so laid-back you’re almost lying down, while the wraparound instrument pod looks futuristic (or certainly did in the early 1980s). It’s surprisingly luxurious, with plush leather swathing every surface: a stark contrast to the stripped-out Lotuses of today. Oh, and the choke lever – a metal tab on the centre console – doubled up as the cement sprayer in 007’s car. I’m already sold.
On the move, the Esprit is initially less convincing. Its five-speed manual ’box needs a weighty shove when cold and the throttle and brake pedals are perilously close together. The 2.2-litre engine also sounds rather prosaic, even as the revs rise. It never howls like a Porsche flat-six or wails like a Ferrari V8. Plus, its performance won’t trouble a modern hot hatch: 162hp at a buzzy 7,000rpm means 0-62mph in 6.9 seconds and 139mph flat-out.
Straight-line speed has never been this car’s forte, though. It comes alive on flowing B-roads, with the beautifully wrought balance that Lotus was, and still is, famous for. The steering is nuanced and precise, the brakes are better than most cars of this era, and turn-in feels firm and focused.
The Esprit’s modest dimensions are a real boon, too. Smaller than the current Lotus Evora, it darts down hedge-lined lanes where newer, vastly wider supercars would fear to tread.
The Esprit, then, is still a pukka driver’s car. With buttocks inches from the Tarmac and scarcely any sense of inertia, it feels like piloting a Star Wars speeder – another toy that littered my bedroom floor in 1983. Yet removing my rose-tinted specs for a moment, it’s also a surefire money-pit that will demand constant attention to keep sweet.
We all know the ‘Lots Of Trouble, Usually Serious’ acronym, after all. So, unless you’re committed, I’d suggest hiring an Esprit rather than buying one. This car is available at RNG Classics in Reigate, priced from £249.
Thanks to RNG Classics (@rngclassics). Photos by Charlie B. (@charlieb.photography). Tim Pitt works for motoringresearch.com


cityam--2020-08-22--Mark Hix on the best way to show off your mushrooms

Times are tough , so let me make my usual reminder : foraging is free and you can find some of the best produce in this land or any other just by knowing what to look for .
This dish is virtually free for those in the know – all that ’ s required is a bin bag and an afternoon in the right kind of woodland .
If you ’ re not an experienced forager , make sure you go with someone who is , however , because mushroom picking can be a dangerous pastime for the uninitiated .
@ @ @ @ @ @ @ right now is end up in A & E because you served up the wrong type of fungus at a dinner party .
Anyway , you can knock up this salad all the way through the mushroom season , depending on what ’ s available in the woods and/or in your garden .
Simplicity is key here : it ’ s basically two ingredients , mushrooms and tasty home grown salad leaves .
• 200g or so of wild mushrooms , cleaned , and cut if they are large • A couple of @ @ @ @ @ @ @ herbs • Heat the olive oil in a frying pan and cook the mushrooms for 3-4 minutes on a medium heat , seasoning as you go , until tender .
• Add the butter and keep them warm .
• Whisk all of the ingredients together for the dressing .
• Arrange the leaves and mushrooms on serving plates and spoon over the dressing .

Mark Hix on the best way to show off your mushrooms
Times are tough, so let me make my usual reminder: foraging is free and you can find some of the best produce in this land or any other just by knowing what to look for. This dish is virtually free for those in the know – all that’s required is a bin bag and an afternoon in the right kind of woodland.
If you’re not an experienced forager, make sure you go with someone who is, however, because mushroom picking can be a dangerous pastime for the uninitiated. The last thing you want to do right now is end up in A&E because you served up the wrong type of fungus at a dinner party.
Anyway, you can knock up this salad all the way through the mushroom season, depending on what’s available in the woods and/or in your garden. Simplicity is key here: it’s basically two ingredients, mushrooms and tasty home grown salad leaves.
Woodland mushroom salad (serves 4)
200g or so of wild mushrooms, cleaned, and cut if they are large
2tsp rapeseed or olive oil
A good knob of butter
Salt and freshly ground black pepper
A couple of handfuls of small tasty salad leaves and herbs
For the dressing
1tsp cider or sherry vinegar
4tsp walnut or hazelnut oil
1tsp caster sugar
To make


cityam--2020-08-22--Where to eat in London: Old favourites reopening and new places to check out

Coronavirus may have shuttered the food industry for months , but the business is bouncing back , with more of our favourite places to eat and drink reopening every day , and some new ones joining them too .
In this regular column , we ’ ll bring you the latest news from the front-line of the food business , complete with the details you need to book a table .
The Hawk ’ s Nest , London ’ s newest outdoor street food space , is now open in Shepherd ’ s Bush .
Bringing life back to Goldhawk @ @ @ @ @ @ @ a converted railway arch and goods yard .
The Italian menu includes anti-pasti alongside stone-baked sourdough pizzas – all washed down with a Blood Orange Margarita .
On 1 September , bookmaker Fitzdares will open a private members ’ club in the heart of Mayfair .
Following a number of successful pop-ups , the bookmaker has decided to provide members a permanent place to watch live sport in both comfort and luxury .
It promises an amazing wine list , incredible food and private rooms .
Modern British restaurant aqua shard recently announced @ @ @ @ @ @ @ , offering a selection of dishes that have been lost over time .
Situated on the 31st floor of The Shard , you still get lovely views of London .
The Laughing Heart reopens with an overhaul of its food and drink offering , including a new seasonal menu and a more concise wine list .
Owner Charlie Mellor has also been working on a delivery service aimed at independent restaurants called Big Night .
Located on level 33 of The Shard , Hutong is the City A.M. pick for the best Shard-based @ @ @ @ @ @ @ Chinese cuisine .
Hutong has introduced new additions to the menu , alongside its ever-popular signatures .
Bala Baya is once again bringing the taste of Tel Aviv to Union Street Arches , Bankside .
The rooftop terrace is now extra-useful as a socialy distanced option .

Where to eat in London: Old favourites reopening and new places to check out
Coronavirus may have shuttered the food industry for months, but the business is bouncing back, with more of our favourite places to eat and drink reopening every day, and some new ones joining them too.
In this regular column, we’ll bring you the latest news from the front-line of the food business, complete with the details you need to book a table.
Hawks Nest
Fitzdares
The Laughing Heart
Hutong
Bala Baya
Aqua Shard
The Hawk’s Nest
The Hawk’s Nest, London’s newest outdoor street food space, is now open in Shepherd’s Bush. Bringing life back to Goldhawk Road, it’s housed in a converted railway arch and goods yard. The Italian menu includes anti-pasti alongside stone-baked sourdough pizzas – all washed down with a Blood Orange Margarita.
Go to the-hawks-nest.co.uk
The Fitzdares Club
On 1 September, bookmaker Fitzdares will open a private members’ club in the heart of Mayfair. Following a number of successful pop-ups, the bookmaker has decided to provide members a permanent place to watch live sport in both comfort and luxury. It promises an amazing wine list, incredible food and private rooms.
Go to fitzdares.com
Aqua Shard
Modern British restaurant aqua shard recently announced its new ‘Forgotten British Menu’, offering a selection of dishes that have been lost over time. Situated on the 31st floor of The Shard, you still get lovely views of London.
Go to aquashard.co.uk
The Laughing Heart
The Laughing Heart reopens with an overhaul of its food and drink offering, including a new seasonal menu and a more concise wine list. Owner Charlie Mellor has also been working on a delivery service aimed at independent restaurants called Big Night.
Go to thelaughingheartlondon.com
Hutong
Located on level 33 of The Shard, Hutong is the City A.M. pick for the best Shard-based restaurant, with some genuinely excellent Northern Chinese cuisine. Hutong has introduced new additions to the menu, alongside its ever-popular signatures.
Go to hutong.co.uk
Bala Baya
Bala Baya is once again bringing the taste of Tel Aviv to Union Street Arches, Bankside. The rooftop terrace is now extra-useful as a socialy distanced option.
Go to balabaya.co.uk


cityam--2020-08-22--How it felt to own a gym during lockdown and why the fitness industry will change forever

The last few months will stay with us for the rest of our lives .
Virtually every person from every country has been affected in some way , and will continue to be affected in the years to come .
It goes without saying that those hit hardest are the frontline workers and the peiople who have lost loved ones , but my little corner of the world , the fitness industry , has been absolutely decimated .
Even as the virus started to take hold I don ’ t think we really believed things would happen the way they @ @ @ @ @ @ @ me when some of our clients stopped travelling into London .
Over the next few weeks enquiries about new memberships had completely dried up and cancellations were higher than we had ever seen .
Out came the hand gel , the gloves and the disclaimers – we thought we were doing our bit , that our members would be safe and No1 Fitness would stay strong .
Then the Prime Minister appeared on TV to announce that our business was shut .
My main priority was to save the company .
It ’ @ @ @ @ @ @ @ opened our first studio and in an instant we were fighting for survival .
The last few months have been a constant fire-fight , but one that has actually raised some positives and changed the way we think about the business .
Overnight we had to completely change our business model and take our entire offering online .
We created a timetable that offered three classes per day , and personal training would be done virtually through the phone , a concept that was almost unheard of six months ago .
Thankfully we @ @ @ @ @ @ @ a happy coincidence , my business partner had spent the last two years creating an app called Remote Coach that allowed personal trainers to work with clients whilst providing data using heart rate monitors .
He had been told it would never work , that people didn ’ t want to train on their phone .
Turns out they were wrong .
We launched it and were learning as we went along , making changes daily .
The challenge was allowing personal trainers to do their work , much of which is physical @ @ @ @ @ @ @ It was no mean feat , but I think we pulled it off .
That ’ s not to say the last few months have been easy .
We had – and still have – lots of problems to deal with .
But I tried to remember the advice someone once gave me : that business is about solving problems and if you don ’ t have problems , you don ’ t have a business .
And we were not short of problems .
Over a week , our revenue dropped by @ @ @ @ @ @ @ no new income in sight .
Pay day for our staff was nearing and there was a concern that we wouldn ’ t be able to pay them .
I remember telling our staff to stay home and they thought they were being fired .
People had to take a pay-cut , and could easily have panicked and left .
But over a few weeks people started to realise the same was happening everywhere .
Next we had to call all of our customers to ask if they were staying with us .
@ @ @ @ @ @ @ showed us how important it is to stay in contact with your customers .
We adapted the packages and did what we could to cater for everyone .
Like most businesses , especially those in expensive postcodes , we had to try to freeze our bills .
Some companies were brilliant , others proved more difficult .
One of our landlords refused to offer a rental freeze or discount , meaning we had to pay full rent without being able to use the facility .
We are still battling this , so I @ @ @ @ @ @ @ those in the hospitality industry who have suffered through similar situations .
The government provided the emergency lending program , which kept businesses afloat , but involves taking on more debt , which isn ’ t ideal , especially given the huge amount of uncertainty .
But in moments of uncertainty come new Ideas .
My business partner and I were constantly throwing new concepts at each other .
The virtual training kept evolving .
We introduced new styles of classes , some using equipment , others focusing on bodyweight and cardio .
@ @ @ @ @ @ @ again with members of staff who had left the UK , which was an amazing feeling .
We started to run weekly workshops for personal trainers , which helped to bring the industry together and mace people feel less isolated .
We also took our entire Personal Trainer course online , allowing us to teach students from seven countries around the world , without seeing a drop-off in quality or feedback .
We never thought virtual courses would be so powerful .
Personal training is all about the connection with the trainer and @ @ @ @ @ @ @ the studio , there ’ s a temptation for trainers to take their clients on personally , bypassing the company .
So staying in touch with the team had financial as well as personal benefits .
We jumped on the weekly quizzes and had regular team meetings , and thanks to the team , we continued to run the business .
Another positive was seeing how willing people are to adapt .
Virtual training isn ’ t a preference for most of our clients , but they stuck with it and we have @ @ @ @ @ @ @ of community and belonging really was highlighted , which got us thinking about how we move forward as a company .
We ’ re now planning regular social events for our members to build up that personal connection that we all missed so much during lockdown .
We have now reopened one of our studios and we ’ re ready to start firing on all cylinders .
Our job is to people back into a routine , back exercising in the gym , and start to build their confidence back up .
The @ @ @ @ @ @ @ , but that doesn ’ t stop us training the few people who are around .
Where there is a negative , you can usually find a positive .
• Harry is co-founder of City gym No1 Fitness .
To find out more go to no1fitness.co.uk

How it felt to own a gym during lockdown and why the fitness industry will change forever
The last few months will stay with us for the rest of our lives. Virtually every person from every country has been affected in some way, and will continue to be affected in the years to come.
It goes without saying that those hit hardest are the frontline workers and the people who have lost loved ones, but my little corner of the world, the fitness industry, has been absolutely decimated. Even as the virus started to take hold I don’t think we really believed things would happen the way they did.
It started sinking in for me when some of our clients stopped travelling into London. Over the next few weeks enquiries about new memberships had completely dried up and cancellations were higher than we had ever seen.
Out came the hand gel, the gloves and the disclaimers – we thought we were doing our bit, that our members would be safe and No1 Fitness would stay strong. Then the Prime Minister appeared on TV to announce that our business was shut.
My main priority was to save the company. It’s been over 10 years since we opened our first studio and in an instant we were fighting for survival. The last few months have been a constant fire-fight, but one that has actually raised some positives and changed the way we think about the business.
Adapting
Overnight we had to completely change our business model and take our entire offering online. We created a timetable that offered three classes per day, and personal training would be done virtually through the phone, a concept that was almost unheard of six months ago.
Thankfully we weren’t entirely unprepared. In a happy coincidence, my business partner had spent the last two years creating an app called Remote Coach that allowed personal trainers to work with clients whilst providing data using heart rate monitors. He had been told it would never work, that people didn’t want to train on their phone. Turns out they were wrong.
We launched it and were learning as we went along, making changes daily. The challenge was allowing personal trainers to do their work, much of which is physical, but without any human contact. It was no mean feat, but I think we pulled it off.
That’s not to say the last few months have been easy. We had – and still have – lots of problems to deal with. But I tried to remember the advice someone once gave me: that business is about solving problems and if you don’t have problems, you don’t have a business. And we were not short of problems.
Over a week, our revenue dropped by more than 60 per cent, with no new income in sight. Pay day for our staff was nearing and there was a concern that we wouldn’t be able to pay them.
I remember telling our staff to stay home and they thought they were being fired. People had to take a pay-cut, and could easily have panicked and left. But over a few weeks people started to realise the same was happening everywhere.
Next we had to call all of our customers to ask if they were staying with us. It was a tough afternoon but it showed us how important it is to stay in contact with your customers. We adapted the packages and did what we could to cater for everyone.
Like most businesses, especially those in expensive postcodes, we had to try to freeze our bills. Some companies were brilliant, others proved more difficult. One of our landlords refused to offer a rental freeze or discount, meaning we had to pay full rent without being able to use the facility. We are still battling this, so I have a huge amount of sympathy with those in the hospitality industry who have suffered through similar situations.
The government provided the emergency lending program, which kept businesses afloat, but involves taking on more debt, which isn’t ideal, especially given the huge amount of uncertainty. But in moments of uncertainty come new Ideas. My business partner and I were constantly throwing new concepts at each other.
The virtual training kept evolving. We introduced new styles of classes, some using equipment, others focusing on bodyweight and cardio. It gave us a chance to work again with members of staff who had left the UK, which was an amazing feeling.
We started to run weekly workshops for personal trainers, which helped to bring the industry together and mace people feel less isolated.
We also took our entire Personal Trainer course online, allowing us to teach students from seven countries around the world, without seeing a drop-off in quality or feedback. We never thought virtual courses would be so powerful.
Staff
Personal training is all about the connection with the trainer and client. Without the client coming into the studio, there’s a temptation for trainers to take their clients on personally, bypassing the company. So staying in touch with the team had financial as well as personal benefits. We jumped on the weekly quizzes and had regular team meetings, and thanks to the team, we continued to run the business.
Another positive was seeing how willing people are to adapt. Virtual training isn’t a preference for most of our clients, but they stuck with it and we have seen some incredible achievements.
The importance of community and belonging really was highlighted, which got us thinking about how we move forward as a company. We’re now planning regular social events for our members to build up that personal connection that we all missed so much during lockdown.
What’s next
We have now reopened one of our studios and we’re ready to start firing on all cylinders. Our job is to people back into a routine, back exercising in the gym, and start to build their confidence back up. The city is still dead at the moment, but that doesn’t stop us training the few people who are around. Where there is a negative, you can usually find a positive.
• Harry is co-founder of City gym No1 Fitness. To find out more go to no1fitness.co.uk


cityam--2020-08-22--Home Grown Club boss on why the future of work is flexible

While shops and restaurants are beginning to return to some semblance of normality , the evidence of coronavirus is still stark in London ’ s commercial districts .
The City , perhaps more than anywhere , remains a ghost-town , its skyscrapers empty and its streets unclogged by the half a million commuters who used to make their daily pilgrimage .
Offices will gradually find ways to keep people socially distanced as more people return to work , but the ‘ normal ’ we eventually settle into will inevitably be different to the one we left behind .
One of @ @ @ @ @ @ @ trying to divine the future of the physical office .
Lockdown , of course , came with many drawbacks , but it was remarkable how quickly companies were able to adapt to having a remote workforce .
Now that the laptops have been couriered and the Zoom meetings have been deemed a success , there ’ s not a CEO in the land who isn ’ t eyeing their annual rent bill and wondering if perhaps they may be able to trim it a little .
The most likely scenario is a more @ @ @ @ @ @ @ with some office space retained but workers able to choose when to commute in and when to stay at home .
Entrepreneur-focused members ’ club Home Grown Club ’ s general manager Joost de Kruiff sees an opportunity in this new normal .
While his business was forced to close alongside the rest of the country in March , he believes spaces like Home Grown will become increasingly important parts of the post-covid landscape .
“ We have seen an appetite for people to meet in smaller numbers , ” he says .
@ @ @ @ @ @ @ before Covid even began .
With modern technology , the need for an office has dissipated , allowing people to work from wherever they are.
” Instead , he sees workers using spaces like Home Grown to meet clients , or to get some work done after commuting in for meetings .
“ We are a great space for people to host business meetings and develop their network .
We have 35 boutique bedrooms for members to book at competitive rates , making us the perfect place for out of towners to stay @ @ @ @ @ @ @ We have already received a lot of membership applications from people who have given up their London offices and are looking for a place that they can meet their clients , host meetings and entertain .
We have also seen an appetite for people to meet in smaller numbers , which we are well set up to accommodate.
” The fact Home Grown is a club exclusive to “ visionary entrepreneurs , investors and business leaders ” also makes it a natural choice for those wanting to take advantage of networking opportunities , @ @ @ @ @ @ @ seminars and events .
I visited the Marylebone club one blistering afternoon at the start of the summer heatwave , and it certainly feels like an environment where one can get things done .
The converted townhouse ( actually three townhouses knocked together ) is filled with nooks and crannies perfect for intimate meetings , and larger spaces are kitted out with the latest video conferencing kit for more formal gatherings .
“ We recognise the new need for hybrid events , ” says de Kruiff .
“ People need the ability to @ @ @ @ @ @ @ we ’ re adapting our business technology accordingly.
” The social spaces – now socially distanced , of course – are designed with a combination of period features and modern flourishes , with statement splashes of colour and lots of layering of textures .
It ’ s nice , basically , the kind of place you can flip open your laptop and lose yourself in some spreadsheets for a couple of hours , perhaps while enjoying a nice glass of wine from the excellently stocked bar .
• Home Grown reopened in July @ @ @ @ @ @ @ and will open again in September .
For more information go to homegrownclub.co.uk , visit 44 Great Cumberland Pl , Marylebone , W1H 7BS , or call 020 3928 8000

Home Grown Club boss on why the future of work is flexible
While shops and restaurants are beginning to return to some semblance of normality, the evidence of coronavirus is still stark in London’s commercial districts.
The City, perhaps more than anywhere, remains a ghost-town, its skyscrapers empty and its streets unclogged by the half a million commuters who used to make their daily pilgrimage.
Offices will gradually find ways to keep people socially distanced as more people return to work, but the ‘normal’ we eventually settle into will inevitably be different to the one we left behind.
One of the most interesting aspects of this is trying to divine the future of the physical office. Lockdown, of course, came with many drawbacks, but it was remarkable how quickly companies were able to adapt to having a remote workforce.
Now that the laptops have been couriered and the Zoom meetings have been deemed a success, there’s not a CEO in the land who isn’t eyeing their annual rent bill and wondering if perhaps they may be able to trim it a little.
The most likely scenario is a more flexible attitude to working from home, with some office space retained but workers able to choose when to commute in and when to stay at home.
Entrepreneur-focused members’ club Home Grown Club’s general manager Joost de Kruiff sees an opportunity in this new normal. While his business was forced to close alongside the rest of the country in March, he believes spaces like Home Grown will become increasingly important parts of the post-covid landscape.
“We have seen an appetite for people to meet in smaller numbers,” he says. “We had noticed the flexi-work trend before Covid even began. With modern technology, the need for an office has dissipated, allowing people to work from wherever they are.”
Instead, he sees workers using spaces like Home Grown to meet clients, or to get some work done after commuting in for meetings.
“We are a great space for people to host business meetings and develop their network. We have 35 boutique bedrooms for members to book at competitive rates, making us the perfect place for out of towners to stay when they come into London.
“We have already received a lot of membership applications from people who have given up their London offices and are looking for a place that they can meet their clients, host meetings and entertain. We have also seen an appetite for people to meet in smaller numbers, which we are well set up to accommodate.”
The fact Home Grown is a club exclusive to “visionary entrepreneurs, investors and business leaders” also makes it a natural choice for those wanting to take advantage of networking opportunities, with a huge roster of talks, seminars and events.
I visited the Marylebone club one blistering afternoon at the start of the summer heatwave, and it certainly feels like an environment where one can get things done. The converted townhouse (actually three townhouses knocked together) is filled with nooks and crannies perfect for intimate meetings, and larger spaces are kitted out with the latest video conferencing kit for more formal gatherings.
“We recognise the new need for hybrid events,” says de Kruiff. “People need the ability to combine both physical and virtual, and we’re adapting our business technology accordingly.”
The social spaces – now socially distanced, of course – are designed with a combination of period features and modern flourishes, with statement splashes of colour and lots of layering of textures. It’s nice, basically, the kind of place you can flip open your laptop and lose yourself in some spreadsheets for a couple of hours, perhaps while enjoying a nice glass of wine from the excellently stocked bar.
• Home Grown reopened in July before taking a break for August, and will open again in September. For more information go to homegrownclub.co.uk, visit 44 Great Cumberland Pl, Marylebone, W1H 7BS, or call 020 3928 8000


cityam--2020-08-23--Gavin Williamson was on holiday in lead-up to A-level results chaos

Under fire education secretary Gavin Williamson cancelled a key meeting and went on holiday to the seaside a week before the A-level results fiasco , it has been revealed .
The Sunday Times reports that Williamson went away to Scarborough , Yorkshire , on the week starting 3 August , just over a week before England ’ s A-level results came out .
Read more : A-levels debacle : Williamson expects to stay in post ‘ over the coming year ’ The education secretary ’ s trip coincided with Scotland ’ s A-level results release turning into chaos as its @ @ @ @ @ @ @ .
He had also received warnings about similar problems with the English algorithm .
A Whitehall source told The Times it was “ surprising ” that Williamson was “ missing in action ” , after Ofqual had already warned him about potential flaws in the emergency grading system .
A-level results came out on 13 August , with many students from poorer areas downgraded by Ofqual ’ s algorithm .
Before the Open newsletter : Start your day with the City View podcast and key market data It sparked fury from many parents @ @ @ @ @ @ @ system had been unfair .
Williamson U-turned a week later and said all students would receive the higher of the algorithm grade and their predicted grade as assessed by teachers .
Williamson took to Twitter today to defend himself against the charge that he was on holiday in the lead-up to the fiasco .
“ I cancelled our family holiday abroad this year to focus on the challenges COVID-19 created for the education sector , ” he said .
“ Over the summer , I went to see family in Scarborough for the @ @ @ @ @ @ @ there I was in constant communication with the [ Education ] Department.
” Read more : A-levels : pupils in England to receive predicted grades after major U-turn Shadow education secretary Kate Green said Williamson had “ has failed hundreds of thousands of families across the country ” .
“ Despite receiving warnings weeks ago about problems in the grading system , Gavin Williamson took time off for his holidays only days before results were due , rather than being at his desk doing all he could to support young people , ” @ @ @

Gavin Williamson was on holiday in lead-up to A-level results chaos
Under fire education secretary Gavin Williamson cancelled a key meeting and went on holiday to the seaside a week before the A-level results fiasco, it has been revealed.
The Sunday Times reports that Williamson went away to Scarborough, Yorkshire, on the week starting 3 August, just over a week before England’s A-level results came out.
The education secretary’s trip coincided with Scotland’s A-level results release turning into chaos as its algorithm downgraded many students from disadvantaged areas.
He had also received warnings about similar problems with the English algorithm.
A Whitehall source told The Times it was “surprising” that Williamson was “missing in action”, after Ofqual had already warned him about potential flaws in the emergency grading system.
A-level results came out on 13 August, with many students from poorer areas downgraded by Ofqual’s algorithm.
Before the Open newsletter: Start your day with the City View podcast and key market data
It sparked fury from many parents, students and teachers who said the system had been unfair.
Williamson U-turned a week later and said all students would receive the higher of the algorithm grade and their predicted grade as assessed by teachers.
Williamson took to Twitter today to defend himself against the charge that he was on holiday in the lead-up to the fiasco.
“I cancelled our family holiday abroad this year to focus on the challenges COVID-19 created for the education sector,” he said.
“Over the summer, I went to see family in Scarborough for the first time since lockdown, and while there I was in constant communication with the [Education] Department.”
Shadow education secretary Kate Green said Williamson had “has failed hundreds of thousands of families across the country”.
“Despite receiving warnings weeks ago about problems in the grading system, Gavin Williamson took time off for his holidays only days before results were due, rather than being at his desk doing all he could to support young people,” she said.