cityam--2020-11-15--Labour calls for anti-vax conspiracy theories to be censored on social media

Labour is calling for anti-vaccine conspiracy theories to be censored on social media .
The opposition has called for Boris Johnson to bring forward legislation to “ stamp out dangerous anti-vax content ” as UK regulators prepare to assess Pfizer and BioNTech ’ s vaccine candidate .
Read more : Covid alliance raises $ 2bn to distribute vaccine to poor countries Labour wants this to include financial and criminal penalties for social media sites that do not delete anti-vaxxer conspiracy theories .
Hopes are rising that the UK will be able to begin a rollout of the Pfizer and BioNTEch @ @ @ @ @ @ @ concerns about the proliferation of baseless conspiracy theories scaring people away from accepting the jab .
Before the Open newsletter : Start your day with the City View podcast and key market data A YouGov poll from June showed a staggering 33 per cent of Britons would refuse a Covid vaccine if made available .
In a letter to culture secretary Oliver Dowden , shadow culture secretary Jo Stevens and shadow health secretary Jon Ashworth said the “ spread of disinformation online presents a real and present danger ” .
“ It has @ @ @ @ @ @ @ a widespread and growing problem and the government knows , because Labour has been warning them for some time , that it poses a real threat to the take up of the vaccine , ” they said .
“ This is literally a matter of life and death and anyone who is dissuaded from being vaccinated because of this is one person too many.
” Read more : Coronavirus : Grant Shapps rules out Brexit disruption to vaccine delivery “ We take this issue extremely seriously and have secured a major commitment from @ @ @ @ @ @ @ it by not profiting from such material , and by responding to flagged content more swiftly .
”

Labour calls for anti-vax conspiracy theories to be censored on social media
A protester holds a placard during an anti-vax rally in Liverpool yesterday
Labour is calling for anti-vaccine conspiracy theories to be censored on social media.
The opposition has called for Boris Johnson to bring forward legislation to “stamp out dangerous anti-vax content” as UK regulators prepare to assess Pfizer and BioNTech’s vaccine candidate.
Labour wants this to include financial and criminal penalties for social media sites that do not delete anti-vaxxer conspiracy theories.
Hopes are rising that the UK will be able to begin a rollout of the Pfizer and BioNTEch vaccine this year, however there are concerns about the proliferation of baseless conspiracy theories scaring people away from accepting the jab.
Before the Open newsletter: Start your day with the City View podcast and key market data
A YouGov poll from June showed a staggering 33 per cent of Britons would refuse a Covid vaccine if made available.
In a letter to culture secretary Oliver Dowden, shadow culture secretary Jo Stevens and shadow health secretary Jon Ashworth said the “spread of disinformation online presents a real and present danger”.
“It has been clear for years that this is a widespread and growing problem and the government knows, because Labour has been warning them for some time, that it poses a real threat to the take up of the vaccine,” they said.
“This is literally a matter of life and death and anyone who is dissuaded from being vaccinated because of this is one person too many.”
A government spokesperson said: “Letting vaccine disinformation spread unchecked could cost British lives.
“We take this issue extremely seriously and have secured a major commitment from Facebook, Twitter and Google to tackle it by not profiting from such material, and by responding to flagged content more swiftly.”


cityam--2020-11-15--Labour turns spotlight on Covid deals between government and Tory donors

The Shadow Leader of the House of Commons , Valerie Vaz , has said a public inquiry is needed following the publication of a ‘ map ’ of deals between the UK government , multiple Conservative Party donors , several Tory MPs and some of their family members .
Vaz , Labour MP for Walsall South , calls for an investigation into claims made in the so-called ‘ My Little Crony ’ map , published by a political sciences student at Harvard , Sophie Hill .
Hill ’ s map shows a web of government contracts , political donations and @ @ @ @ @ @ @ , Whitehall , the Conservative Party , a range of MPs and some of their family members .
“ I think it might be time for a public inquiry , particularly on the £670,000 that has been allocated by the vaccine tsar for public relations .
Now if you look at the ‘ My Little Crony ’ interactive map , it will link directly to the special , special adviser ’ s relation , ” Vaz said .
Last week , It was revealed that vaccine taskforce chief Kate Bingham , who is @ @ @ @ @ @ @ had spent £670,000 of public money on PR advisers from a boutique company since being appointed to the role in May .
Bingham is reportedly close associates with the father-in-law of prime minister Boris Johnson ’ s former top aide Dominic Cummings , who left Downing Street on Friday following an unrelated dispute .
The contracts for the PR advisers span until the end of this year when Bingham is expected to step down from the role .
Johnson earlier congratulated her , saying she had done “ fantastic work.
” On the @ @ @ @ @ @ @ Hill demonstrates how a range of government contracts have been awarded to political donors of the Conservative Party , or their associates , family members or employers .
By using data from the openDemocracy platform and a number of other public sources , Hill zoomed in on government projects that were assigned since the start of the pandemic .
She did this to expose the “ scale of cronyism ” within the UK government , as Hill put it .
For example , in September the company Globus Shetland Ltd reportedly won a @ @ @ @ @ @ @ face masks .
In the last four years , the company donated around £400,000 to the Conservative Party .
Read more : Pay no attention to the dysfunctional comms team behind the Downing Street curtain

Labour turns spotlight on Covid deals between government and Tory donors
A top aide of Boris Johnson has quit just two weeks into his new job.
The Shadow Leader of the House of Commons, Valerie Vaz, has said a public inquiry is needed following the publication of a ‘map’ of deals between the UK government, multiple Conservative Party donors, several Tory MPs and some of their family members.
Vaz, Labour MP for Walsall South, calls for an investigation into claims made in the so-called ‘My Little Crony’ map, published by a political sciences student at Harvard, Sophie Hill.
Hill’s map shows a web of government contracts, political donations and other agreements between key players in Cabinet, Whitehall, the Conservative Party, a range of MPs and some of their family members.
“I think it might be time for a public inquiry, particularly on the £670,000 that has been allocated by the vaccine tsar for public relations. Now if you look at the ‘My Little Crony’ interactive map, it will link directly to the special, special adviser’s relation,” Vaz said.
Vaccine taskforce chief
Last week, It was revealed that vaccine taskforce chief Kate Bingham, who is married to Tory minister Jesse Norman, had spent £670,000 of public money on PR advisers from a boutique company since being appointed to the role in May.
Bingham is reportedly close associates with the father-in-law of prime minister Boris Johnson’s former top aide Dominic Cummings, who left Downing Street on Friday following an unrelated dispute.
The contracts for the PR advisers span until the end of this year when Bingham is expected to step down from the role. Johnson earlier congratulated her, saying she had done “fantastic work.”
‘Crony’ map
On the ‘My Little Crony’ map, Hill demonstrates how a range of government contracts have been awarded to political donors of the Conservative Party, or their associates, family members or employers.
The cronyism in this Tory government is so out-of-control that I honestly couldn’t keep track… so I combined my two main skills (puns and #Rstats) to create this interactive visualization.
Introducing… My Little Crony!https://t.co/hooKR4dBx0 pic.twitter.com/sfs7UISV3e — Sophie Hill (@sophie_e_hill) November 9, 2020
By using data from the openDemocracy platform and a number of other public sources, Hill zoomed in on government projects that were assigned since the start of the pandemic. She did this to expose the “scale of cronyism” within the UK government, as Hill put it.
For example, in September the company Globus Shetland Ltd reportedly won a government contract close to £94m for supplying face masks. In the last four years, the company donated around £400,000 to the Conservative Party.


cityam--2020-11-17--New images: Eataly food emporium confirms Broadgate opening for early 2021

Italian food market and global phenomenon Eataly will finally open its doors to the UK public in early 2021 with a flagship space on Broadgate , in the heart of the City of London .
The 40,000 sq ft site , situated next to Liverpool Street station , will house three restaurants , a market with over 5,000 Italian products , the capital ’ s biggest Italian winery as well as a cookery school and on-site cheese making .
Eataly was launched in Turin in 2007 as an urban hub for local artisan food producers and chefs , and has @ @ @ @ @ @ @ There are now some 39 million visitors to their 42 sites across 15 countries .
City lunch-breakers will also be able to grab and go sandwiches and pasta from a host of takeout food producers , with speciality ingredients from Italy and more everyday products sourced from local farms .
The opening will create around 300 jobs across a range of positions and is one of the first major investments in hospitality in London since the Covid-19 pandemic struck at the start of the year .
Eataly Chief Executive Nicola Farinetti told City @ @ @ @ @ @ @ key target in our global expansion plans for some time now and we ’ re happy to be bringing our vision and a love of high-quality food to the UK .
Eataly is all about taking the Italian gastronomic culture abroad , making it accessible to all in a celebration of the craft , taste and traditions of Italian food and drink .
“ Bringing people together is at the heart of what we do and this is even more important in the current climate , ” he continued .
Read more : @ @ @ @ @ @ @ offerings in London

New images: Eataly food emporium confirms Broadgate opening for early 2021
Italian food market and global phenomenon Eataly will finally open its doors to the UK public in early 2021 with a flagship space on Broadgate, in the heart of the City of London.
The 40,000 sq ft site, situated next to Liverpool Street station, will house three restaurants, a market with over 5,000 Italian products, the capital’s biggest Italian winery as well as a cookery school and on-site cheese making.
Eataly was launched in Turin in 2007 as an urban hub for local artisan food producers and chefs, and has taken the world by storm since. There are now some 39 million visitors to their 42 sites across 15 countries.
City lunch-breakers will also be able to grab and go sandwiches and pasta from a host of takeout food producers, with speciality ingredients from Italy and more everyday products sourced from local farms.
The opening will create around 300 jobs across a range of positions and is one of the first major investments in hospitality in London since the Covid-19 pandemic struck at the start of the year.
Eataly Chief Executive Nicola Farinetti told City A.M.: “London has been a key target in our global expansion plans for some time now and we’re happy to be bringing our vision and a love of high-quality food to the UK. Eataly is all about taking the Italian gastronomic culture abroad, making it accessible to all in a celebration of the craft, taste and traditions of Italian food and drink.
“Bringing people together is at the heart of what we
do and this is even more important in the current climate,” he continued.
Read more: Our guide to the best new restaurant-at-home offerings in London


cityam--2020-11-16--Biden the bullet: US President-elect unveils $7 trillion coronavirus recovery package

US President-elect Joe Biden has unveiled details of his $ 7 trillion coronavirus recovery package , as the Democrat lays the groundwork for America to “ Build Back Better ” from the worst Covid death toll in the world .
Biden today announced his administration would invest $ 300bn in “ the most critical competitive new industries and technology ” to help the US economy rebound from its deepest recession since the Great Depression .
Read more : Cabinet confidential : Who will Joe Biden pick as the next US Secretary of the Treasury ?
The President-elect said the emergency @ @ @ @ @ @ @ jobs ” in corporate America , after several states reported record levels of unemployment during the pandemic .
Biden also announced a $ 15 nationwide minimum wage for the country — more than double the current minimum wage of $ 7.25 an hour for the bulk of US states .
“ That ’ s how we build back the middle class better than ever , ” Biden said .
“ That ’ s how me make sure workers are treated with the dignity and respect they deserve.
” “ Once we shut down @ @ @ @ @ @ @ workers and businesses , then we can start to build back better than before , ” said the President-elect , adding : “ Let ’ s get to work ” .
Biden ’ s Build Back Better economic recovery package includes plans to spend more than $ 7 trillion on initiatives such as infrastructure over the next decade to boost the US economy .
His speech in Wilmington , Delaware this evening comes after the Democrat spent the day consulting chief executives of top US companies and labour leaders .
The incoming President @ @ @ @ @ @ @ that has suffered millions of job losses during the pandemic .
“ We ’ re going into a very dark winter .
Things are going to get much tougher before they get easier , ” he cautioned .
Biden called for bipartisan cooperation and urged Congress to pass pandemic relief legislation , which stalled for months in the run-up to the election .
The Democrat moved ahead with economic planning even as incumbent President Donald Trump refused to accept his election loss .
Asked what he made of Trump ’ s baseless claims @ @ @ @ @ @ @ election , ” Biden said : “ I find this more embarrassing for the country than debilitating.
” He slammed Trump for holding golf matches while the US suffers from the highest coronavirus death toll in the world , after 623 further fatalities yesterday took the country ’ s total to more than 246,000 .
Read more : Trump acknowledges Biden won US election , even though it was ‘ rigged ’ In his first economic address since being elected to the White House on 7 November , Biden vowed to roll out @ @ @ @ @ @ @ rapid rise in infections .
“ It ’ s about patriotism .
It ’ s about being patriotic , ” he said .
“ It ’ s about saving lives , for real .
This is not hyperbole .
”

Biden the bullet: US President-elect unveils $7 trillion coronavirus recovery package
US President-elect Joe Biden has unveiled details of his $7 trillion coronavirus recovery package, as the Democrat lays the groundwork for America to “Build Back Better” from the worst Covid death toll in the world.
Biden today announced his administration would invest $300bn in “the most critical competitive new industries and technology” to help the US economy rebound from its deepest recession since the Great Depression.
The President-elect said the emergency funding would help create 3m “good-paying jobs” in corporate America, after several states reported record levels of unemployment during the pandemic.
Biden also announced a $15 nationwide minimum wage for the country — more than double the current minimum wage of $7.25 an hour for the bulk of US states.
“That’s how we build back the middle class better than ever,” Biden said. “That’s how me make sure workers are treated with the dignity and respect they deserve.”
“Once we shut down the virus and deliver economic relief to workers and businesses, then we can start to build back better than before,” said the President-elect, adding: “Let’s get to work”.
Biden’s Build Back Better economic recovery package includes plans to spend more than $7 trillion on initiatives such as infrastructure over the next decade to boost the US economy.
His speech in Wilmington, Delaware this evening comes after the Democrat spent the day consulting chief executives of top US companies and labour leaders.
The incoming President warned his administration will inherit an economy that has suffered millions of job losses during the pandemic.
“We’re going into a very dark winter. Things are going to get much tougher before they get easier,” he cautioned.
Biden called for bipartisan cooperation and urged Congress to pass pandemic relief legislation, which stalled for months in the run-up to the election.
The Democrat moved ahead with economic planning even as incumbent President Donald Trump refused to accept his election loss.
Asked what he made of Trump’s baseless claims this afternoon that he “won the election,” Biden said: “I find this more embarrassing for the country than debilitating.”
He slammed Trump for holding golf matches while the US suffers from the highest coronavirus death toll in the world, after 623 further fatalities yesterday took the country’s total to more than 246,000.
In his first economic address since being elected to the White House on 7 November, Biden vowed to roll out a nationwide mask-wearing policy to stem the rapid rise in infections.
“It’s about patriotism. It’s about being patriotic,” he said. “It’s about saving lives, for real. This is not hyperbole.”


cityam--2020-11-16--Cabinet confidential: Who will Joe Biden pick as the next US Secretary of the Treasury?

President-elect Joe Biden has made it clear he wants his government to “ actually look like America ” , with pundits expecting the most diverse cabinet ever assembled .
Speculation is rife Biden will appoint female and Bame candidates to top cabinet roles , including to Secretary of the Treasury and Secretary of State .
Read more : Biden dubs Trump ’ s refusal to concede the election ‘ an embarrassment ’ The former Vice President will have to balance these considerations with how much opportunity he gives to Democrats from the left of the party who stood by him @ @ @ @ @ @ @ particularly important when it comes to the Treasury as Biden ’ s cabinet will have to implement a clear economic plan to navigate the country ’ s worst recession in almost 100 years .
A source close to Biden ’ s economic transition team said the President-elect was now considering just three candidates for the top Treasury role , all of them female .
Read more : ‘ Trumpism is here to stay ’ : The future of the Republican Party No woman has ever controlled the nation ’ s finances , with @ @ @ @ @ @ @ shatter this glass ceiling .
Lael Brainard is a current member of the US Federal Reserve Board of Governors and previously served in a top role at the Treasury during the Barack Obama administration .
The moderate Democrat has been touted as the frontrunner to be Biden ’ s Secretary of the Treasury and to oversee his expansive economic plan .
Former US treasury official Mark Sobel told the Financial Times that her experience over the past decade “ checks all the boxes ” .
Read more : Wall Street opens higher but @ @ @ @ @ @ @ to rise “ She knows the international side of the Treasury – she knows all the players internationally , be it on the regulatory side , the monetary policy side and the diplomatic side , ” he said .
Brainard has been criticised by some Democrats in the past for not taking a tough stance on China ’ s currency manipulation and for being too wrapped up in the globalist economic orthodoxy that dominated US politics prior to Donald Trump .
Since starting at the Fed she has made something of a leftward @ @ @ @ @ @ @ greater regulatory protection for American workers .
Sarah Bloom Raskin served as Deputy Secretary of the Treasury in the Obama administration and has also previously served on the US Federal Reserve Board of Governors .
She is currently a director with Vanguard , an investment giant with $ 6 trillion in assets under management .
Bloom Raskin became the preferred Treasury candidate for the Democrats ’ progressive wing , after she last year called for the US to implement stricter environmental disclosure rules for large companies .
She has also written about the @ @ @ @ @ @ @ big on infrastructure spending in order to stoke the economy and help transition to a greener future .
Read more : Explainer : What are green bonds ?
And how will the UK ’ s first green gilts work ?
This would fit nicely with Biden ’ s commitment to spend $ 2 trillion on infrastructure as a part of his post-Covid “ Build Back Better ” pledge .
However , with a likely divided Congress it is hard to see how much of Biden ’ s spending plan will pass through the @ @ @ @ @ @ @ Bernie Sanders adviser , Robert Hockett told City A.M. that Bloom Raskin was a “ stealth lefty ” .
“ I don ’ t think she has been so grandstanding-ly , fire brading-ly left as to terrify Wall Street , ” he said .
“ I don ’ t think she would frighten off the right like [ Senator ] Elizabeth Warren would.
” A late entrant into the race for the position has been former Federal Reserve chair Janet Yellen .
Another Obama appointee , Yellen served as boss of the central @ @ @ @ @ @ @ now senior fellow at the liberal-leaning Brookings Institution think tank .
Her tenure as Fed chair was widely regarded as a success , with a Wall Street Journal poll showing 60 per cent of economists gave her an “ A ” for her role .
Yellen would also be a welcome pick for left-wing Democrats , with the famed economist in favour of implementing a carbon tax .
Read more : Trump acknowledges Biden won US election , even though it was ‘ rigged ’ Speaking to Reuters in October , Yellen said @ @ @ @ @ @ @ kind of recognition that you ’ ve got a society where capitalism is beginning to run amok and needs to be readjusted in order to make sure that what we ’ re doing is sustainable and the benefits of growth are widely shared in ways they haven ’ t been .
“ What I see is a growing recognition on both sides of the aisle that climate change is a very serious concern and that action needs to occur .
”

Cabinet confidential: Who will Joe Biden pick as the next US Secretary of the Treasury?
President-elect Joe Biden has made it clear he wants his government to “actually look like America”, with pundits expecting the most diverse cabinet ever assembled.
Speculation is rife Biden will appoint female and Bame candidates to top cabinet roles, including to Secretary of the Treasury and Secretary of State.
The former Vice President will have to balance these considerations with how much opportunity he gives to Democrats from the left of the party who stood by him through the election campaign.
This is particularly important when it comes to the Treasury as Biden’s cabinet will have to implement a clear economic plan to navigate the country’s worst recession in almost 100 years.
A source close to Biden’s economic transition team said the President-elect was now considering just three candidates for the top Treasury role, all of them female.
No woman has ever controlled the nation’s finances, with Biden tipped to appoint someone that will shatter this glass ceiling.
Lael Brainard
Lael Brainard speaking at an ECB forum in 2015
Lael Brainard is a current member of the US Federal Reserve Board of Governors and previously served in a top role at the Treasury during the Barack Obama administration.
The moderate Democrat has been touted as the frontrunner to be Biden’s Secretary of the Treasury and to oversee his expansive economic plan.
Former US treasury official Mark Sobel told the Financial Times that her experience over the past decade “checks all the boxes”.
“She knows the international side of the Treasury – she knows all the players internationally, be it on the regulatory side, the monetary policy side and the diplomatic side,” he said.
Brainard has been criticised by some Democrats in the past for not taking a tough stance on China’s currency manipulation and for being too wrapped up in the globalist economic orthodoxy that dominated US politics prior to Donald Trump.
Since starting at the Fed she has made something of a leftward turn and has pushed the need for greater regulatory protection for American workers.
Sarah Bloom Raskin
Sarah Bloom Raskin at an Asia-Pacific Economic Cooperation meeting in 2014
Sarah Bloom Raskin served as Deputy Secretary of the Treasury in the Obama administration and has also previously served on the US Federal Reserve Board of Governors.
She is currently a director with Vanguard, an investment giant with $6 trillion in assets under management.
Bloom Raskin became the preferred Treasury candidate for the Democrats’ progressive wing, after she last year called for the US to implement stricter environmental disclosure rules for large companies.
She has also written about the need for the US government to go big on infrastructure spending in order to stoke the economy and help transition to a greener future.
This would fit nicely with Biden’s commitment to spend $2 trillion on infrastructure as a part of his post-Covid “Build Back Better” pledge.
However, with a likely divided Congress it is hard to see how much of Biden’s spending plan will pass through the Senate.
Cornell professor, and former Bernie Sanders adviser, Robert Hockett told City A.M. that Bloom Raskin was a “stealth lefty”.
“I don’t think she has been so grandstanding-ly, fire brading-ly left as to terrify Wall Street,” he said.
“I don’t think she would frighten off the right like [Senator] Elizabeth Warren would.”
Janet Yellen
Janet Yellen speaking at her last press conference as Fed chair in 2017
A late entrant into the race for the position has been former Federal Reserve chair Janet Yellen.
Another Obama appointee, Yellen served as boss of the central bank from 2014 to 2018 and is now senior fellow at the liberal-leaning Brookings Institution think tank.
Her tenure as Fed chair was widely regarded as a success, with a Wall Street Journal poll showing 60 per cent of economists gave her an “A” for her role.
Yellen would also be a welcome pick for left-wing Democrats, with the famed economist in favour of implementing a carbon tax.
Speaking to Reuters in October, Yellen said: “There really is a new kind of recognition that you’ve got a society where capitalism is beginning to run amok and needs to be readjusted in order to make sure that what we’re doing is sustainable and the benefits of growth are widely shared in ways they haven’t been.
“What I see is a growing recognition on both sides of the aisle that climate change is a very serious concern and that action needs to occur.”


cityam--2020-11-16--London pandemic update: How many Covid-19 infections are there in your local borough?

London recorded 674 new coronavirus cases in the past 24 hours , taking the total number of infections since the pandemic began to 131,687 .
The R rate , which measures the rate of spread of infection , is now between 1.1 and 1.3 according to government estimates .
Read more : London lockdown : What the Government ’ s new rules mean for you Figures released by Public Health England show that Ealing remains the worst-affected borough , and has now recorded 6,552 confirmed Covid-19 cases since the start of the pandemic .
Read more : London coronavirus cases @ @ @ @ @ @ @ Barnet trails close behind with 5,774 confirmed cases , though it has reported fewer infections over the past few days .
East London continues to have a high rate of new cases , with the boroughs of Redbridge , Barking and Dagenham , Tower Hamlets and Newham reporting spikes in new infections .
Figures compiled by the PA news agency showed that 21 London boroughs have broken the key level of more than 100 cases per 100,000 people .
But the spread of infection is beginning to slow , with new daily cases @ @ @ @ @ @ @ cent since last week .
Read more : Rapid Covid tests to be rolled out across majority of London boroughs However , the number of coronavirus-related fatalities in London rose slightly last week to 76 , up from 47 the previous week .
The figure still represents roughly a third of the 232 deaths recorded in the week before the first lockdown in March .
London recorded a further 8 Covid-related fatalities in the past week , taking the capital ’ s total death toll from coronavirus to 6,701 .
But hopes for @ @ @ @ @ @ @ received a second boost today after US drugs firm Moderna announced its coronavirus vaccine proved 95 per cent effective in late-stage clinical trials Health secretary Matt Hancock this evening said he had subsequently secure 5m doses of the vaccine for rollout across the UK ’ s most vulnerable next spring if proven safe .
Hancock last week announced the government will roll out rapid Covid tests across 21 of London ’ s 32 boroughs , which have a turnaround time of around 15 minutes .
The tests are part of government plans to @ @ @ @ @ @ @ in a bid to create a clearer picture of the level of infection across different communities .
It comes as the UK recorded a further 21,363 cases today , taking the total number of people who have tested positive since the start of the pandemic to almost 1.4m .
The official UK death toll has now exceeded 52,000 with a further 213 fatalities recorded in the past 24 hours .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Data sourced @ @ @ @ @ @ @ of 6pm on Monday 16 November Before the Open newsletter : Start your day with the City View podcast and key market data

How many Covid-19 infections are there in your London borough?
London has seen a sharp drop in the number of recorded coronavirus cases over the past few days, after figures released on Friday showed the capital currently has the lowest R rate in the country.
A further 629 cases were recorded in the past 24 hours, taking the total number of positive tests in London since the start of the pandemic to 697,278.
It marks a significant drop since a record 19,871 daily cases were recorded on 29 December, as lockdown measures continue to drive down infections.
Several areas in the capital have seen case numbers drop threefold over the past fortnight, which in turn has pushed down the spread of infection.
Most boroughs in the capital now have a seven-day rate below 100 new cases per 100,000, but that figure is below 50 in some areas in central London.
Twenty-nine London borough areas, including the whole of east London which was hardest hit by the second wave, have a seven-day case rate below 100 new confirmed cases per 100,000.
Meanwhile, Southwark, Westminster, Camden, Kensington and Chelsea all recorded seven-day rates below 50. Lewisham saw the lowest case rate in the capital in the week to 24 February, with an average of 43 people infected per 100,000 population.
Meanwhile, Ealing currently has the highest case rate, with 123 cases per 100,000, followed by Hounslow at 115 and Hillingdon on 97.
Health chiefs have said all London boroughs need to get below a case rate of 100 before restrictions can begin to be lifted, starting with the reopening of schools on 8 March.
It comes after figures released last Friday showed London’s R rate remains at a best estimate of 0.6 to 0.8 — the lowest in the country, alongside the east of England and the South West.
The figure means infections may be falling anywhere between five and eight per cent each day.
However, separate figures released last week showed the percentage of people testing positive for coronavirus in London remains the highest of any English region.
Data published by the Office for National Statistics (ONS) showed around 1 in 63 Londoners were infected with the virus last week.
That compares to an estimated 1 in 80 people who contracted the virus in England as a whole in the week to 6 February, according to ONS figures.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
London coronavirus cases by borough (in alphabetical order)
Data sourced from Public Health England, accurate as of 4pm on Tuesday 2 March
Boroughs Rate of infection per 100,000 people in last 7 days Total confirmed cases since start of pandemic Barking and Dagenham 86 22,925 Barnet 75 29,569 Bexley 58 21,812 Brent 91 27,577 Bromley 48 23,857 Camden 42 13,683 Croydon 73 30,213 Ealing 123 29,807 Enfield 48 29,217 Greenwich 55 21,769 Hackney and City of London 57 21,234 Hammersmith and Fulham 76 12,564 Haringey 58 20,345 Harrow 95 19,917 Havering 65 26,383 Hillingdon 97 25,287 Hounslow 115 23,817 Islington 43 14,574 Kensington and Chelsea 43 8,643 Kingston upon Thames 47 11,764 Lambeth 49 23,625 Lewisham 39 21,226 Merton 79 15,719 Newham 61 34,574 Redbridge 72 31,965 Richmond upon Thames 55 10,430 Southwark 42 21,947 Sutton 80 15,509 Tower Hamlets 53 28,074 Waltham Forest 52 24,325 Wandsworth 63 21,377 Westminster 41 13,577
Before the Open newsletter: Start your day with the City View podcast and key market data


cityam--2020-11-16--Moderna vaccine prevents 94.5 per cent of coronavirus

Pharmaceutical giant Moderna has said its experimental vaccine was 94.5 per cent effective in preventing Covid-19 based on interim data from a late-stage clinical trial , following rival Pfizer ’ s good test results last week .
Health secretary Matt Hancock this evening announced that the UK has secured 5m doses of the vaccine , following crunch talks with Moderna executives today .
The Covid-19 vaccine news lifted shares in leisure companies in London , with Easyjet , IAG and Cineworld all adding to daily gains .
Read more : Janssen begins stage three Covid vaccine trial in UK US @ @ @ @ @ @ @ with the S & P hitting record highs this afternoon as cruise operators welcomed hopes of a return to service .
Meanwhile , conferencing software and Covid-19 star Zoom saw shares almost four per cent amid signs that office reopenings linger on the horizon .
Today ’ s breakthrough announcement today from Moderna was met with subdued optimism this side of the Atlantic , as the UK admitted it had failed to order doses of the vaccine .
The UK had until today “ spread its bets ” by ordering 350m doses from @ @ @ @ @ @ @ vaccine .
But the overwhelming success of Moderna ’ s vaccine in late-stage clinical trials forced the UK to enter “ advanced discussions ” with the US company this afternoon .
The health secretary managed to bag an initial 5m doses of the vaccine , but Moderna president Dr Stephen Hoge said he hoped his firm would be able to supply “ substantial quantities ” of its coronavirus vaccine to Britain in the future .
Initial doses of the vaccine will become available in spring 2021 in the UK at the earliest .
@ @ @ @ @ @ @ 40m doses of Pfizer and Biontech ’ s vaccine , which sent shockwaves across global markets last week as it became the first coronavirus vaccine to prove overwhelmingly successful in clinical trials .
The vaccines , both built using new technology known as messenger RNA or mRNA , represent powerful new tools to fight a pandemic that has killed 1.3m so far .
Hoge was bullish on the outlook on the end of the coronavirus pandemic , telling reporters : “ We are going to have a vaccine that can stop Covid-19.
” @ @ @ @ @ @ @ on 95 infections among trial participants who received either a placebo or the vaccine .
Of those , only five people contracted Covid-19 in those who received the vaccine .
The vaccine was administered in two shots 28 days apart .
Although trials of the Moderna vaccine were smaller than the multi-country ones held by Pfizer , the Moderna product may prove easier to distribute globally because it does not have to be stored and transported at sub-zero temperatures like Pfizer ’ s .
Together with Pfizer ’ s vaccine , also more @ @ @ @ @ @ @ US could have two vaccines authorised by December .
Back in August , US President Donald Trump ordered 100m doses of the Moderna vaccine candidate .
Read more : Pfizer ’ s Covid-19 vaccine news set off a $ 2 trillion trading frenzy on markets Next year , the US could have access to more than 1bn doses from two vaccine makers , more than its 330m residents .

Moderna vaccine prevents 94.5 per cent of coronavirus
Trials of the Moderna Covid-19 vaccine found 94.5% of patients became immune to the coronavirus
Pharmaceutical giant Moderna has said its experimental vaccine was 94.5 per cent effective in preventing Covid-19 based on interim data from a late-stage clinical trial, following rival Pfizer’s good test results last week.
Health secretary Matt Hancock this evening announced that the UK has secured 5m doses of the vaccine, following crunch talks with Moderna executives today.
The Covid-19 vaccine news lifted shares in leisure companies in London, with Easyjet, IAG and Cineworld all adding to daily gains.
US stocks also surged on the news, with the S&P hitting record highs this afternoon as cruise operators welcomed hopes of a return to service.
Meanwhile, conferencing software and Covid-19 star Zoom saw shares almost four per cent amid signs that office reopenings linger on the horizon.
‘Advanced discussions’
Today’s breakthrough announcement today from Moderna was met with subdued optimism this side of the Atlantic, as the UK admitted it had failed to order doses of the vaccine.
The UK had until today “spread its bets” by ordering 350m doses from six companies producing different types of coronavirus vaccine.
But the overwhelming success of Moderna’s vaccine in late-stage clinical trials forced the UK to enter “advanced discussions” with the US company this afternoon.
The health secretary managed to bag an initial 5m doses of the vaccine, but Moderna president Dr Stephen Hoge said he hoped his firm would be able to supply “substantial quantities” of its coronavirus vaccine to Britain in the future.
Initial doses of the vaccine will become available in spring 2021 in the UK at the earliest.
The batch comes on top of the 40m doses of Pfizer and Biontech’s vaccine, which sent shockwaves across global markets last week as it became the first coronavirus vaccine to prove overwhelmingly successful in clinical trials.
Bullish
The vaccines, both built using new technology known as messenger RNA or mRNA, represent powerful new tools to fight a pandemic that has killed 1.3m so far.
Hoge was bullish on the outlook on the end of the coronavirus pandemic, telling reporters: “We are going to have a vaccine that can stop Covid-19.”
Moderna’s interim analysis was based on 95 infections among trial participants who received either a placebo or the vaccine.
Of those, only five people contracted Covid-19 in those who received the vaccine. The vaccine was administered in two shots 28 days apart.
Easier to distribute
Although trials of the Moderna vaccine were smaller than the multi-country ones held by Pfizer, the Moderna product may prove easier to distribute globally because it does not have to be stored and transported at sub-zero temperatures like Pfizer’s.
Together with Pfizer’s vaccine, also more than 90 per cent effective, the US could have two vaccines authorised by December.
Back in August, US President Donald Trump ordered 100m doses of the Moderna vaccine candidate.
Next year, the US could have access to more than 1bn doses from two vaccine makers, more than its 330m residents.


cityam--2020-11-16--Editorial: Vaccine success is a shot in the arm for the free market

Who would have thought that competition and the free market would be the world ’ s saving grace as we head towards 2021 ?
Other than anybody who has studied free market economics , obviously , or anybody who has noticed that over the past hundreds of years it has invariably been the private sector , driven by need , who have innovated the world into progress ?
So it has been again , with the global race of big ( and not-so-big ) pharma firms lining up to be first to the vaccine prize .
Last week it was @ @ @ @ @ @ @ – this week , Moderna , not so quick but more effective .
Next Monday we fully expect AstraZeneca to announce that theirs takes ten years off your worry lines .
There are myriad questions to be asked , now , about the roll-out of the vaccine .
We are most taken by the idea that if you vaccinate the most vulnerable first – indeed , do that as quickly as possible – it allows Governments to open up the economy far quicker than had previously been anticipated .
If you remove the @ @ @ @ @ @ @ , those few cases amongst the non ‘ at-risk ’ ( a reminder that only 10 per cent of fatalities from this awful disease have been amongst the under-65s ) population who are unlucky enough to end up needing hospital treatment will be able to walk into wards and be treated as well as they possibly can .
That frees up pressure elsewhere , allowing the economy to reopen – and people to get back to work .
That allows Britain ’ s struggling sectors to get back on their feet , start @ @ @ @ @ @ @ short , begin the recovery .
It is still , of course , too early for many of those questions , but it is a delight to have something positive to talk about for once , after a year of bad news .
Of course , some still – somehow – saw the development of the vaccine as bad news .
Bad news , that is , because of how it had come about : evil corporations , up to evil things .
Making money out of a pandemic , the hard left @ @ @ @ @ @ @ computing the idea that large firms are unlikely to throw billions at research into something they would then be obliged to give away for free .
Yes , there are many questions about when , how , and who when it comes to the vaccine .
But first the plaudits – to the market , to the world ’ s researchers and scientists and , dare we say it , to good old fashioned capitalism .

Editorial: Vaccine success is a shot in the arm for the free market
The UK entered crunch talks with Moderna this afternoon to secure a vaccine supply
Who would have thought that competition and the free market would be the world’s saving grace as we head towards 2021?
Other than anybody who has studied free market economics, obviously, or anybody who has noticed that over the past hundreds of years it has invariably been the private sector, driven by need, who have innovated the world into progress?
So it has been again, with the global race of big (and not-so-big) pharma firms lining up to be first to the vaccine prize. Last week it was Pfizer with a 90% effective vaccine – this week, Moderna, not so quick but more effective.
Next Monday we fully expect AstraZeneca to announce that theirs takes ten years off your worry lines.
There are myriad questions to be asked, now, about the roll-out of the vaccine. We are most taken by the idea that if you vaccinate the most vulnerable first – indeed, do that as quickly as possible – it allows Governments to open up the economy far quicker than had previously been anticipated.
If you remove the risk on the vulnerable, in short, those few cases amongst the non ‘at-risk’ (a reminder that only 10 per cent of fatalities from this awful disease have been amongst the under-65s) population who are unlucky enough to end up needing hospital treatment will be able to walk into wards and be treated as well as they possibly can.
That frees up pressure elsewhere, allowing the economy to reopen – and people to get back to work. That allows Britain’s struggling sectors to get back on their feet, start employing people again, and, in short, begin the recovery.
It is still, of course, too early for many of those questions, but it is a delight to have something positive to talk about for once, after a year of bad news.
Of course, some still – somehow – saw the development of the vaccine as bad news. Bad news, that is, because of how it had come about: evil corporations, up to evil things.
Making money out of a pandemic, the hard left cries, incredulous, apparently incapable of computing the idea that large firms are unlikely to throw billions at research into something they would then be obliged to give away for free.
Yes, there are many questions about when, how, and who when it comes to the vaccine. But first the plaudits – to the market, to the world’s researchers and scientists and, dare we say it, to good old fashioned capitalism.


cityam--2020-11-16--Unused office space 'to cost London firms £13bn', survey shows

The shift to homeworking , accelerated by the coronavirus pandemic , could cost London businesses almost £13bn in unused office space , according to the latest research .
London office workers want to spend an average of 2.7 days per week back in the office once all coronavirus restrictions are lifted , as long as they have the resources to work from home comfortably , a survey has shown .
Read more : Anti-vaxxers may be barred from pubs and offices : Senior Tory MP Before staff were ordered to work from home at the beginning of the coronavirus lockdown @ @ @ @ @ @ @ of 4.2 days a week working from the office .
Analysis by office share startup Space Three Two found that the drop in the number of days that the office is used could result in companies shelling out billions of pounds on unused desks .
The company said that the total London commercial rental market is worth around £17.9bn .
If the number of days spent in the office falls to 2.7 days , the utilisation rate per workplace would drop from 44 per cent to 28 per cent , equating to a @ @ @ @ @ @ @ a result , unused desks could cost businesses £12.84bn in total .
“ London businesses will be spending a combined £12bn on office space that they do not need once Covid-19 restrictions are lifted ” , said Jon Dweck , founder of Space Three Two .
Read more : Could ditching the office make us all poorer ?
“ Desk utilisation was already a major issue pre-Covid , with more than 50 per cent of all desks empty at any given moment .
“ Post-Covid , due to changing working practices and reduced @ @ @ @ @ @ @ all office desks to be empty at any given time .
”

Unused office space ‘to cost London firms £13bn’, survey shows
Capita has also bagged hefty contracts this year with the Royal Navy Training, worth £925m, the extension of a European telecoms client valued at £528m and another £58m contract for Tesco Mobile.
The shift to homeworking, accelerated by the coronavirus pandemic, could cost London businesses almost £13bn in unused office space, according to the latest research.
London office workers want to spend an average of 2.7 days per week back in the office once all coronavirus restrictions are lifted, as long as they have the resources to work from home comfortably, a survey has shown.
Before staff were ordered to work from home at the beginning of the coronavirus lockdown in March, employees spent an average of 4.2 days a week working from the office.
Analysis by office share startup Space Three Two found that the drop in the number of days that the office is used could result in companies shelling out billions of pounds on unused desks.
The company said that the total London commercial rental market is worth around £17.9bn.
If the number of days spent in the office falls to 2.7 days, the utilisation rate per workplace would drop from 44 per cent to 28 per cent, equating to a 72 per cent wastage rate.
As a result, unused desks could cost businesses £12.84bn in total.
“London businesses will be spending a combined £12bn on office space that they do not need once Covid-19 restrictions are lifted”, said Jon Dweck, founder of Space Three Two.
“Desk utilisation was already a major issue pre-Covid, with more than 50 per cent of all desks empty at any given moment.
“Post-Covid, due to changing working practices and reduced workforces, we can expect 7/10 of all office desks to be empty at any given time.”


cityam--2020-11-16--Breaking: UK secures 5m doses of Moderna vaccine

The UK has today secured 5m doses of Moderna ’ s coronavirus vaccine , which proved 95 per cent effective in late-stage clinical trials , the health secretary has announced .
Speaking at today ’ s Downing Street press conference , Matt Hancock said : “ I can announce that we have today an initial agreement for 5m doses of the Moderna vaccine.
” Read more : Which Covid vaccines has the UK government ordered ?
The doses will mean enough to vaccinate around 2.5m people against coronavirus .
Hancock added that results from its preliminary trials was “ excellent @ @ @ @ @ @ @ could expect the vaccine to be rolled out by the spring if proven safe .
It comes after ministers entered crunch talks with Moderna executives this afternoon in a bid to secure a UK supply , after breakthrough data was dampened by revelations that Britain was not on Moderna ’ s order books .
Dr Stephen Hoge , president of Moderna , followed by telling the BBC he hoped his firm would be able to supply “ substantial quantities ” of its coronavirus vaccine to Britain .
The results came hot on the @ @ @ @ @ @ @ last week that its experimental Covid vaccine proved 90 per cent effective in trials .
Although trials of the Moderna vaccine were smaller than the international ones held by Pfizer , the Moderna jab may prove easier to distribute globally because it does not have to be stored and transported at sub-zero temperatures .
It has been shown to last for up to 30 days in household fridges and at room temperature for up to 12 hours .
So far , the UK has secured 355m doses of potential vaccines produced by seven @ @ @ @ @ @ @ stocks surge as Fauci promises widescale vaccine rollout by April Business secretary Alok Sharma today said it was important that Britain spread its chances across a range of vaccines because vaccination across the population would not be achieved by a “ one-size fits all ” drug .
“ The speed at which scientists around the world have worked on a vaccine has been incredible , and it is thanks to their ingenuity that we are on the cusp of one of the biggest scientific breakthroughs in recent years , ” said Sharma .
@ @ @ @ @ @ @ I urge the public to not be complacent — we are at a critical point in the pandemic and in order to save lives we must continue to follow guidance by maintaining social distancing , wearing face masks and washing our hands regularly.
” Kate Bingham , chair of the government ’ s Vaccine Taskforce , said : “ Today ’ s news from Moderna is very encouraging .
The Moderna mRNA vaccine has posted excellent efficacy data to date from its initial phase three readout .
“ The government ’ s Vaccine @ @ @ @ @ @ @ obtaining vaccines for the UK across different vaccine formats , to maximise the chances of finding safe and effective vaccines.
” Hancock also announced the government will launch a network of 40 clinics across the UK to tackle Long Covid .
Half a million people in Britain are understood to be struggling with lingering symptoms of Covid-19 , including fatigue , breathlessness and chest pain .
A study published yesterday by Coverscan found that 70 per cent of “ low risk ” individuals who had previously contracted coronavirus incurred lasting damage in one @ @ @ @ @ @ @ , lungs , liver and pancreas .

Breaking: UK secures 5m doses of Moderna vaccine
The UK entered crunch talks with Moderna this afternoon to secure a vaccine supply
The UK has today secured 5m doses of Moderna’s coronavirus vaccine, which proved 95 per cent effective in late-stage clinical trials, the health secretary has announced.
Speaking at today’s Downing Street press conference, Matt Hancock said: “I can announce that we have today an initial agreement for 5m doses of the Moderna vaccine.”
The doses will mean enough to vaccinate around 2.5m people against coronavirus.
Hancock added that results from its preliminary trials was “excellent news”, and that the UK could expect the vaccine to be rolled out by the spring if proven safe.
It comes after ministers entered crunch talks with Moderna executives this afternoon in a bid to secure a UK supply, after breakthrough data was dampened by revelations that Britain was not on Moderna’s order books.
Dr Stephen Hoge, president of Moderna, followed by telling the BBC he hoped his firm would be able to supply “substantial quantities” of its coronavirus vaccine to Britain.
The results came hot on the heels of Pfizer’s breakthrough announcement last week that its experimental Covid vaccine proved 90 per cent effective in trials.
Although trials of the Moderna vaccine were smaller than the international ones held by Pfizer, the Moderna jab may prove easier to distribute globally because it does not have to be stored and transported at sub-zero temperatures.
It has been shown to last for up to 30 days in household fridges and at room temperature for up to 12 hours.
So far, the UK has secured 355m doses of potential vaccines produced by seven different companies.
Business secretary Alok Sharma today said it was important that Britain spread its chances across a range of vaccines because vaccination across the population would not be achieved by a “one-size fits all” drug.
“The speed at which scientists around the world have worked on a vaccine has been incredible, and it is thanks to their ingenuity that we are on the cusp of one of the biggest scientific breakthroughs in recent years,” said Sharma.
“While this is exciting news, I urge the public to not be complacent — we are at a critical point in the pandemic and in order to save lives we must continue to follow guidance by maintaining social distancing, wearing face masks and washing our hands regularly.”
Kate Bingham, chair of the government’s Vaccine Taskforce, said: “Today’s news from Moderna is very encouraging. The Moderna mRNA vaccine has posted excellent efficacy data to date from its initial phase three readout.
“The government’s Vaccine Taskforce are pursuing a portfolio approach to obtaining vaccines for the UK across different vaccine formats, to maximise the chances of finding safe and effective vaccines.”
Hancock also announced the government will launch a network of 40 clinics across the UK to tackle Long Covid.
Half a million people in Britain are understood to be struggling with lingering symptoms of Covid-19, including fatigue, breathlessness and chest pain.
A study published yesterday by Coverscan found that 70 per cent of “low risk” individuals who had previously contracted coronavirus incurred lasting damage in one or more organs, including the heart, lungs, liver and pancreas.


cityam--2020-11-16--Sam Torrance: Masters magic can unlock more major success for vastly improved Dustin Johnson

You couldn ’ t have asked for a much better Masters than the one Dustin Johnson just won in fantastic fashion .
OK , it ’ s more exciting when there ’ s two or three players vying at the end , but he was sublime and outclassed the whole field .
The signs were there .
Johnson ’ s form going into Augusta included four top twos and a win in his last six events .
Sure enough , Dustin just dusted them up .
Read more : The Masters effect : How winning a green jacket can double @ @ @ @ @ @ @ The golf he played all week was really impressive .
It was early on Saturday that he found the surge that he needed to distance himself from the rest .
He stuck it to within a foot at the second for eagle , then birdied three and four .
Someone had to jump out the gates quickly and it was certainly Dustin Johnson .
From then on he just had to keep doing what he was doing .
I never won a major so it ’ s difficult for me to assess what @ @ @ @ @ @ @ just don ’ t get ahead of yourself .
You don ’ t think , ‘ I can ’ t wait to get to 16 or 17 and be five clear ’ .
It ’ s just about staying in the moment and doing what you do best .
I don ’ t think the absence of spectators made any difference to him .
If anything , I think he might have won by more if there had been crowds .
He doesn ’ t seem the type of person to get nervous @ @ @ @ @ @ @ everyone was talking about before the Masters , Bryson DeChambeau , flattered to deceive .
DeChambeau finished tied for 34th , 18 shots behind Johnson .
He wouldn ’ t have seen that coming .
He drove pretty poorly all week , especially the first couple of rounds .
But I ’ m not sure who could have caught Johnson .
He was scarily good .
Like Jon Rahm , Rory McIlroy made quite a few mistakes .
On Saturday he made six at 13 and went in the water at 15 — @ @ @ @ @ @ @ the event .
It ’ s quite extraordinary how he does that , time and again .
As for Tiger Woods , he was magnificent for 71 holes .
And even after making 10 at the par-three 12th , he birdied five of the last six holes .
But it wasn ’ t his week .
It ’ s pretty special that seven of the top 10 finishers are in the top 12 of the world rankings .
I think it ’ s a great testament to Augusta and the way they set @ @ @ @ @ @ @ about overrunning courses .
Yes , the scoring was good , but there wasn ’ t a breath of wind so it ’ s difficult to say how good it actually was .
For Johnson , I think winning the Masters will unlock more major titles .
He ’ s a different player to two or three years ago ; vastly improved .
He ’ s worked out the fade .
Having played most of his career with the hook , Johnson has worked out the fade — and what a move that @ @ @ @ @ @ @ ‘ you can talk to fade but you can ’ t talk to a hook ’ — meaning you can hit a really bad hook whereas it ’ s very difficult to hit a really bad slice .
Johnson ’ s a different animal now .
He ’ s got the distance , he putts beautifully , he ’ s sorted out his wedge play .
He ’ s the real deal .
Sam Torrance OBE is a multiple Ryder Cup-winning golfer and media commentator .
Follow him on Twitter here .

Sam Torrance: Masters magic can unlock more major success for vastly improved Dustin Johnson
Dustin Johnson succeeded Tiger Woods as Masters champion after a sublime display at Augusta. Credit: Getty
You couldn’t have asked for a much better Masters than the one Dustin Johnson just won in fantastic fashion.
OK, it’s more exciting when there’s two or three players vying at the end, but he was sublime and outclassed the whole field.
The signs were there. Johnson’s form going into Augusta included four top twos and a win in his last six events. Sure enough, Dustin just dusted them up.
The golf he played all week was really impressive.
It was early on Saturday that he found the surge that he needed to distance himself from the rest. He stuck it to within a foot at the second for eagle, then birdied three and four.
Someone had to jump out the gates quickly and it was certainly Dustin Johnson.
From then on he just had to keep doing what he was doing. I never won a major so it’s difficult for me to assess what he’s thinking, but you just don’t get ahead of yourself.
You don’t think, ‘I can’t wait to get to 16 or 17 and be five clear’. It’s just about staying in the moment and doing what you do best.
I don’t think the absence of spectators made any difference to him. If anything, I think he might have won by more if there had been crowds. He doesn’t seem the type of person to get nervous.
Johnson ‘scarily good’
In the end, the man everyone was talking about before the Masters, Bryson DeChambeau, flattered to deceive.
DeChambeau finished tied for 34th, 18 shots behind Johnson. He wouldn’t have seen that coming.
He drove pretty poorly all week, especially the first couple of rounds. But I’m not sure who could have caught Johnson. He was scarily good.
Like Jon Rahm, Rory McIlroy made quite a few mistakes. On Saturday he made six at 13 and went in the water at 15 — and yet he still finished fifth in the event. It’s quite extraordinary how he does that, time and again.
As for Tiger Woods, he was magnificent for 71 holes. And even after making 10 at the par-three 12th, he birdied five of the last six holes. But it wasn’t his week.
It’s pretty special that seven of the top 10 finishers are in the top 12 of the world rankings.
I think it’s a great testament to Augusta and the way they set up the course.
We all talk about overrunning courses. Yes, the scoring was good, but there wasn’t a breath of wind so it’s difficult to say how good it actually was.
More majors beckon
For Johnson, I think winning the Masters will unlock more major titles.
He’s a different player to two or three years ago; vastly improved.
He’s worked out the fade. Having played most of his career with the hook,Johnson has worked out the fade — and what a move that has been.
LeeTrevino used to say ‘you can talk to fade but you can’t talk to a hook’ — meaning you can hit a really bad hook whereas it’s very difficult to hit a really bad slice.
Johnson’s a different animal now. He’s got the distance, he putts beautifully, he’s sorted out his wedge play. He’s the real deal.
Sam Torrance OBE is a multiple Ryder Cup-winning golfer and media commentator. Follow him on Twitter here.


cityam--2020-11-16--Exclusive: Ministers risk 'catastrophic' outcome for financial services in Brexit talks, warns mayor

Sadiq Khan has today warned that the Government risks a “ diminished country ” if it fails to protect the financial services industry in Brexit negotiations .
Writing exclusively for City A.M. , the Mayor of London says that the capital ’ s world-leading financial sector could become a “ major casualty ” of the UK ’ s exit from the European Union .
Khan calls upon Brexit negotiators to “ shield , not sacrifice ” financial services and London more generally if the whole country is to recover from the economic ravages of the Covid-19 pandemic .
Read more @ @ @ @ @ @ @ say trade experts And in what appears to be a coded criticism of the focus on fisheries in negotiations , the Mayor further slams the Government for putting so-called red lines around “ symbolic , but relatively niche ” industries rather than those strategically important to the economy .
“ Come the end of the year , the City and the whole UK financial services sector will face significant barriers to doing business directly with a market to which it currently exports around £26 billion of financial services every year , ” the @ @ @ @ @ @ @ a catastrophic outcome , but one that ’ s looking increasingly likely , ” he continues , referring to the lack of progress towards a trade deal .
In a marked contrast from many in his Labour party , the Mayor says “ the reality is our financial sector is key to serving the real economy , and a diminished financial services sector would only lead to a diminished country.
” Read more : City of London to be shut out of EU with no equivalence deal from January A Government official told @ @ @ @ @ @ @ start of negotiations with the EU , we have held discussions across a range of important chapters – ensuring that a deal delivers for businesses and citizens across the whole of the UK .
“ This includes our ambition to provide a predictable , transparent and business-friendly environment for financial services – securing the UK ’ s position as a world-leader in this sector .
“ We ’ ve been clear that any agreement must fully respect UK sovereignty – taking back control of our laws , trade and waters.
” Read more @ @ @ @ @ @ @ in moving assets out of UK ahead of Brexit

Exclusive: Ministers risk ‘catastrophic’ outcome for financial services in Brexit talks, warns mayor
(Photo by Victoria Jones – WPA Pool/Getty Images)
Sadiq Khan has today warned that the Government risks a “diminished country” if it fails to protect the financial services industry in Brexit negotiations.
Writing exclusively for City A.M., the Mayor of London says that the capital’s world-leading financial sector could become a “major casualty” of the UK’s exit from the European Union.
Khan calls upon Brexit negotiators to “shield, not sacrifice” financial services and London more generally if the whole country is to recover from the economic ravages of the Covid-19 pandemic.
Read more: Brexit breakthrough needed this week, say trade experts
And in what appears to be a coded criticism of the focus on fisheries in negotiations, the Mayor further slams the Government for putting so-called red lines around “symbolic, but relatively niche” industries rather than those strategically important to the economy.
“Come the end of the year, the City and the whole UK financial services sector will face significant barriers to doing business directly with a market to which it currently exports around £26 billion of financial services every year,” the Mayor writes.
“This would be a catastrophic outcome, but one that’s looking increasingly likely,” he continues, referring to the lack of progress towards a trade deal.
In a marked contrast from many in his Labour party, the Mayor says “the reality is our financial sector is key to serving the real economy, and a diminished financial services sector would only lead to a diminished country.”
A Government official told City A.M.: ““From the start of negotiations with the EU, we have held discussions across a range of important chapters – ensuring that a deal delivers for businesses and citizens across the whole of the UK.
“This includes our ambition to provide a predictable, transparent and business-friendly environment for financial services – securing the UK’s position as a world-leader in this sector.
“We’ve been clear that any agreement must fully respect UK sovereignty – taking back control of our laws, trade and waters.”
Read more: Goldman Sachs joins other City firms in moving assets out of UK ahead of Brexit


cityam--2020-11-17--Intermediate Capital Group accelerates fundraising after ‘exceptional' period

Alternative fund manager Intermediate Capital Group has accelerated its fundraising timetable after an “ exceptional ” first half .
ICG raised €2.6bn in the six months ended 30 September , resulting in assets under management ( AUM ) of €46.1bn and said it expects fundraising of €6bn for the full year .
Read more : EU watchdog seeks to quell worry over cross-border investment funds The firm , which invests in private debt , equity and infrastructure , said it had experienced an “ exceptional period of investment activity ” for its strategic equity and European corporate funds .
A @ @ @ @ @ @ @ and a further €4.0bn signed or in exclusivity .
As a result ICG has launched its Strategic Equity Fund IV and its Europe fund VIII is expected to launch in the next twelve months .
Group profit before tax in the first half soared 29 per cent to £197.8m , while earnings per share rose 32 per cent to 66.9p .
It was boosted by a 58 per cent increase in profits to £108m at its investment company after a recovery in portfolio valuations and a particularly strong performance in its European and @ @ @ @ @ @ @ to 43.69bn from 38.38bn a year earlier .
Chief executive Benoit Durteste said : “ The sustained growth of our Fund Management Company profits demonstrates the strength of our business model in these challenging times , as we continue to see investor demand for a broad range of our funds , including a number of new strategies.
” “ The pace of deployment in our flagship funds is such that we have already launched Strategic Equity IV and expect Europe Fund VIII to be in the market in the next twelve months .
@ @ @ @ @ @ @ both strategies which are expected to be larger than their predecessors , ” he added .
ICG increased its ordinary interim dividend by 13 per cnet to 17 pence per share in line with its policy of paying a third prior to the full year dividend .

Intermediate Capital Group accelerates fundraising after ‘exceptional’ period
Responsible investing is not a bubble ready to burst. It is an economic and societal transition – a revolution, writes Saker Nusseibeh
Alternative fund manager Intermediate Capital Group has accelerated its fundraising timetable after an “exceptional” first half.
ICG raised €2.6bn in the six months ended 30 September, resulting in assets under management (AUM) of €46.1bn and said it expects fundraising of €6bn for the full year.
The firm, which invests in private debt, equity and infrastructure, said it had experienced an “exceptional period of investment activity” for its strategic equity and European corporate funds.
A total of €2.1bn deployed in the period and a further €4.0bn signed or in exclusivity.
As a result ICG has launched its Strategic Equity Fund IV and its Europe fund VIII is expected to launch in the next twelve months.
Group profit before tax in the first half soared 29 per cent to £197.8m, while earnings per share rose 32 per cent to 66.9p.
It was boosted by a 58 per cent increase in profits to £108m at its investment company after a recovery in portfolio valuations and a particularly strong performance in its European and Asian corporate funds.
Third-party AUM grew to 43.69bn from 38.38bn a year earlier. Chief executive Benoit Durteste said: “The sustained growth of our Fund Management Company profits demonstrates the strength of our business model in these challenging times, as we continue to see investor demand for a broad range of our funds, including a number of new strategies.”
“The pace of deployment in our flagship funds is such that we have already launched Strategic Equity IV and expect Europe Fund VIII to be in the market in the next twelve months. This is much sooner than planned for both strategies which are expected to be larger than their predecessors,” he added.
ICG increased its ordinary interim dividend by 13 per cnet to 17 pence per share in line with its policy of paying a third prior to the full year dividend.


cityam--2020-11-17--UK beats US to be named most influential country for sports technology

The United Kingdom has been named the most influential country in the realm of sports technology by a new report .
The UK leads the way because it is home to Formula 1 and golf ’ s European Tour , organisations praised for innovation .
The United States is the second most influential country , according to the inaugural Sports Technology Annual Review .
Read more : Ryan Reynolds confirms Wrexham takeover with spoof advert for Welsh trailer company Switzerland is third , followed by Spain , France and the United Arab Emirates .
Formula 1 ranks top of the @ @ @ @ @ @ @ its “ commitment to innovation across every facet of business ” .
The racing series uses the world ’ s most efficient engines and has adopted a number of pioneering fan engagement projects to better understand its audience .
The Tour de France placed second for its continuous improvement , particularly in making cycling ’ s biggest race more immersive and exciting .
Sailing ’ s Emirates Team New Zealand , in third , launched a new monohull design .
Because they are America ’ s Cup holders , the design will influence @ @ @ @ @ @ @ .
The report , published today , was co-authored by the Sports Technology Awards Group and the English Institute of Sport .

UK beats US to be named most influential country for sports technology
The UK’s influence on sports technology is helped by it being home to Formula 1’s headquarters
The United Kingdom has been named the most influential country in the realm of sports technology by a new report.
The UK leads the way because it is home to Formula 1 and golf’s European Tour, organisations praised for innovation.
The United States is the second most influential country, according to the inaugural Sports Technology Annual Review.
Switzerland is third, followed by Spain, France and the United Arab Emirates.
Formula 1 ranks top of the report’s power list because of its “commitment to innovation across every facet of business”.
The racing series uses the world’s most efficient engines and has adopted a number of pioneering fan engagement projects to better understand its audience.
The Tour de France placed second for its continuous improvement, particularly in making cycling’s biggest race more immersive and exciting.
Sailing’s Emirates Team New Zealand, in third, launched a new monohull design. Because they are America’s Cup holders, the design will influence the boats used by rival teams too.
The 2020 Sports Technology Power List Top 10
Position Organisation Sport Sector 1 Formula 1 Motorsport Governing body 2 Tour de France Cycling Governing body 3 Emirates Team New Zealand Sailing Governing body 4 NBA Basketball Governing body 5 European Tour Golf Governing body 6 NFL American Football Governing body 7 Statsports Various Performance 8 All England Lawn Tennis Club (Wimbledon) Tennis Tournament 9 Catapult Various Performance 10 Genius Various Data
The report, published today, was co-authored by the Sports Technology Awards Group and the English Institute of Sport.


cityam--2020-11-17--UK and US sign aviation agreement to protect vital travel links

The government has today signed a deal with the US ensuring that aviation links can continue unchanged after 1 January .
The new Air Services Agreement will replace the existing EU-US deal , which will cease to apply to the UK deal when the Brexit transition period ends .
Read more : Airline stocks take flight again on Moderna vaccine success The transatlantic air travel market is one of the most lucrative in the world and is a key element in the UK ’ s £230bn per annum trading relationship with the US .
Transport secretary Grant Shapps signed the @ @ @ @ @ @ @ of state Mike Pompeo and transportation secretary Elaine Chao .
Shapps said : “ The Air Services Agreement will allow us to continue to travel and trade with one of our closest friends and allies , working together to mutually boost our economies either side of the Atlantic .
“ This is just one of many steps we ’ re taking as we move towards a bright new future at the end of the transition period.
” Despite today ’ s agreement , there are still fears over the future of UK air @ @ @ @ @ @ @ current arrangements also due to lapse on 1 January .
Before the Open newsletter : Start your day with the City View podcast and key market data Pilots ’ union Balpa has called for the government to commit to agreeing an air travel deal with the bloc even if wider free trade negotiations come to nothing .
General secretary Brian Strutton said : “ The Prime Minister and the EU side simply must commit that whatever the outcome of these trade talks , an EU-UK air service agreement , providing as much freedom @ @ @ @ @ @ @ recognition of licences , will be signed by both sides ASAP , and that planes will keep flying .
“ To do otherwise would be reckless given the parlous state of this industry right now.
” A spokesperson for the Department for Transport said that the government was “ confident ” measures would be in place to continue air transport after the end of the transition period .
Read more : Budget carrier Easyjet posts first ever full year loss “ The government ’ s priority is to ensure that flights can continue @ @ @ @ @ @ @ between the UK/EU at the end of transition period , regardless of the outcome of negotiations ” , they said .
It is also in negotiations to secure similar agreements with other significant markets like Canada , Switzerland , and Iceland .

UK and US sign aviation agreement to protect vital travel links
British Airways is one of several carriers which depends on the lucrative transatlantic market for its business.
The government has today signed a deal with the US ensuring that aviation links can continue unchanged after 1 January.
The new Air Services Agreement will replace the existing EU-US deal, which will cease to apply to the UK deal when the Brexit transition period ends.
The transatlantic air travel market is one of the most lucrative in the world and is a key element in the UK’s £230bn per annum trading relationship with the US.
Transport secretary Grant Shapps signed the deal this morning along with US secretary of state Mike Pompeo and transportation secretary Elaine Chao.
Shapps said: “The Air Services Agreement will allow us to continue to travel and trade with one of our closest friends and allies, working together to mutually boost our economies either side of the Atlantic.
“This is just one of many steps we’re taking as we move towards a bright new future at the end of the transition period.”
Despite today’s agreement, there are still fears over the future of UK air links with the EU itself, with current arrangements also due to lapse on 1 January.
Before the Open newsletter: Start your day with the City View podcast and key market data
Pilots’ union Balpa has called for the government to commit to agreeing an air travel deal with the bloc even if wider free trade negotiations come to nothing.
General secretary Brian Strutton said: “The Prime Minister and the EU side simply must commit that whatever the outcome of these trade talks, an EU-UK air service agreement, providing as much freedom to fly as possible and with mutual recognition of licences, will be signed by both sides ASAP, and that planes will keep flying.
“To do otherwise would be reckless given the parlous state of this industry right now.”
A spokesperson for the Department for Transport said that the government was “confident” measures would be in place to continue air transport after the end of the transition period.
“The government’s priority is to ensure that flights can continue to operate safely, securely and punctually between the UK/EU at the end of transition period, regardless of the outcome of negotiations”, they said.
It is also in negotiations to secure similar agreements with other significant markets like Canada, Switzerland, and Iceland.


cityam--2020-11-17--Tesco, M&S and Sainsbury's face allegations of worker exploitation in India

UK retailers including Marks & Spencer ( M & S ) , Tesco and Sainsbury ’ s are facing calls to apologise following allegations of worker exploitation in their supply chains .
Supermarket supplier workers in India reportedly said they do not get toilet breaks or sufficient breaks to drink water or eat lunch .
Read more : Tesco apologises to customers over Christmas delivery booking delays One member of staff told the BBC they were forced to work overtime , while another said managers sometimes stand behind staff in the canteen and blow a whistle to signal the end @ @ @ @ @ @ @ women working at a factory supplying US fashion retailer Ralph Lauren said they had been forced to work overnight to finish orders .
The retailers told the broadcaster that they were concerned about the allegations and will investigate .
“ They ’ ve increased our workload , ” one employee told the BBC .
“ We ’ re forced to stay late to finish it – or they yell at us and threaten to fire us .
We ’ re scared as we don ’ t want to lose our jobs.
” “ @ @ @ @ @ @ @ , we don ’ t get time to drink water on shift .
We barely get time to eat lunch , ” another woman said .
Hindu statesman Rajan Zed , in a statement today , said the corporations “ should show some moral and ethical responsibility , be a good corporate citizen and not turn their backs to methodical exploitation of workers in their supply chain for mercantile greed , with an eternal quest for profit and shareholder value.
” Responding to the allegations of worker exploitation , Sainsbury ’ s said @ @ @ @ @ @ @ of actions the supplier must take in order for us to continue to work with them ” .
Read more : Boohoo and Nike grilled over supply chain links to slave labour in China Tesco told the broadcaster that it does not “ tolerate any abuse of workers ’ rights ” and were “ deeply troubled ” by the results of an investigation .
Meanwhile , M & S said it had a “ robust ” plan following an “ unannounced audit ” following the claims .
It said it had identified poor @ @ @ @ @ @ @ over access to toilet breaks and water .
City A.M. has contacted the brands for further comment .

Tesco, M&S and Sainsbury’s face allegations of worker exploitation in India
British retailers are facing calls to apologise following reports of worker exploitation in their supply chains
UK retailers including Marks & Spencer (M&S), Tesco and Sainsbury’s are facing calls to apologise following allegations of worker exploitation in their supply chains.
Supermarket supplier workers in India reportedly said they do not get toilet breaks or sufficient breaks to drink water or eat lunch.
One member of staff told the BBC they were forced to work overtime, while another said managers sometimes stand behind staff in the canteen and blow a whistle to signal the end of the lunch break.
Meanwhile, women working at a factory supplying US fashion retailer Ralph Lauren said they had been forced to work overnight to finish orders.
The retailers told the broadcaster that they were concerned about the allegations and will investigate.
“They’ve increased our workload,” one employee told the BBC.
“We’re forced to stay late to finish it – or they yell at us and threaten to fire us. We’re scared as we don’t want to lose our jobs.”
“We don’t get toilet breaks, we don’t get time to drink water on shift. We barely get time to eat lunch,” another woman said.
Hindu statesman Rajan Zed, in a statement today, said the corporations “should show some moral and ethical responsibility, be a good corporate citizen and not turn their backs to methodical exploitation of workers in their supply chain for mercantile greed, with an eternal quest for profit and shareholder value.”
Responding to the allegations of worker exploitation, Sainsbury’s said it was “insisting on a number of actions the supplier must take in order for us to continue to work with them”.
Tesco told the broadcaster that it does not “tolerate any abuse of workers’ rights” and were “deeply troubled” by the results of an investigation.
Meanwhile, M&S said it had a “robust” plan following an “unannounced audit” following the claims. It said it had identified poor overtime working practices, but disputed allegations over access to toilet breaks and water.
City A.M. has contacted the brands for further comment.


cityam--2020-11-17--Online publishers curb revenue decline as pandemic drives up subscriptions

Online publishers suffered a less steep decline in revenue than feared at the height of the coronavirus lockdown , as surging demand for news drove up subscriber numbers .
Digital publishing revenue fell 14.3 per cent year on year to £96.6m in the second quarter — a smaller drop than anticipated .
Read more : Playboy set for Wall Street listing as iconic publisher looks to float The fall was driven by lower display advertising — the largest revenue category — as brands slashed their spend due to the economic downturn caused by Covid-19 .
Revenue from smaller categories such @ @ @ @ @ @ @ also fell on the same period last year , according to new figures from the Association of Online Publishers ( AOP ) and Deloitte .
But the downturn was offset in part by a 45 per cent surge in subscription revenues to £34.5m , as homebound Brits turned to paywalled websites for the latest news about the crisis .
This marked an acceleration of an ongoing shift towards subscription services as news outlets look to reduce their reliance on advertising and encourage users to switch to a paid model .
Over the last @ @ @ @ @ @ @ more than a quarter .
The report also revealed rising optimism among online publishers following an initial collapse in sentiment following the virus outbreak earlier this year .
Publishers agreed that growing non-advertising revenue was a high priority , while a third of respondents also cited the need to expand their business through acquisition .
Read more : Mirror publisher suspends dividend as revenue slumps during Covid-19 pandemic “ A drop in digital publisher revenue was unfortunately inevitable in the second quarter given the Covid-19 pandemic and the impact of the associated national @ @ @ @ @ @ @ see the decline was not as steep as the industry initially feared , and that some revenue categories such as subscriptions continue to see strong growth , ” said AOP managing director Richard Reeves .
“ With another lockdown now in place publishers don ’ t have an easy road ahead , but these figures provide reassurance the industry is working together in a positive direction .
”

Online publishers curb revenue decline as pandemic drives up subscriptions
Online publishers suffered a less steep decline in revenue than feared at the height of the coronavirus lockdown, as surging demand for news drove up subscriber numbers.
Digital publishing revenue fell 14.3 per cent year on year to £96.6m in the second quarter — a smaller drop than anticipated.
The fall was driven by lower display advertising — the largest revenue category — as brands slashed their spend due to the economic downturn caused by Covid-19.
Revenue from smaller categories such as online video, sponsorship and recruitment also fell on the same period last year, according to new figures from the Association of Online Publishers (AOP) and Deloitte.
But the downturn was offset in part by a 45 per cent surge in subscription revenues to £34.5m, as homebound Brits turned to paywalled websites for the latest news about the crisis.
This marked an acceleration of an ongoing shift towards subscription services as news outlets look to reduce their reliance on advertising and encourage users to switch to a paid model.
Over the last 12 months subscription revenues have grown by more than a quarter.
The report also revealed rising optimism among online publishers following an initial collapse in sentiment following the virus outbreak earlier this year.
Publishers agreed that growing non-advertising revenue was a high priority, while a third of respondents also cited the need to expand their business through acquisition.
“A drop in digital publisher revenue was unfortunately inevitable in the second quarter given the Covid-19 pandemic and the impact of the associated national lockdown, but it is heartening to see the decline was not as steep as the industry initially feared, and that some revenue categories such as subscriptions continue to see strong growth,” said AOP managing director Richard Reeves.
“With another lockdown now in place publishers don’t have an easy road ahead, but these figures provide reassurance the industry is working together in a positive direction.”


cityam--2020-11-17--BoE governor Andrew Bailey: Vaccine ‘a big step forward’ for UK economy

Bank of England governor Andrew Bailey has called the development of seemingly effective coronavirus vaccines “ a big step forward ” for the economy that could help lower uncertainty and get firms investing again .
Speaking at lobby group The City UK ’ s conference , Bailey said both coronavirus and Brexit had “ increased uncertainty ” and “ restrained investment ” .
He also said that business investment had been “ unusually weak ” since the financial crisis , weighing on productivity .
Yet Bailey spoke optimistically about the vaccines developed by Moderna and Biontech and Pfizer , which @ @ @ @ @ @ @ cent effective .
“ Of course there is a lot to do , and important steps to take and evidence to gather , ” Bailey said .
“ But this is a big step forward , and it will play a major role in lowering the level of uncertainty.
” The governor – who took over from Mark Carney as the coronavirus crisis began in March – said there was “ some light at the end of the tunnel ” .
Yet Bailey said there was likely to be some “ scarring ” @ @ @ @ @ @ @ some longer-term pain as the economy adjusts to a new normal .
However , the BoE boss said the difficulties will not be like those seen in the 1980s and 1990s .
Then , the economy was changing from being industry-based to services-based , with a particularly painful move away from mining .
Bailey said the changes due to coronavirus will more likely be within the services sector .
This can already be seen , with a focus on digital services over face-to-face work taking hold .
He said that Covid may even @ @ @ @ @ @ @ increase in productivity .
A footnote to his speech suggested the pandemic “ might open up the possibilities of new business models , products and ways of working ” .
Read more : Bank of England goes big with £150bn stimulus amid second lockdown The governor again stressed that companies face big cash flow problems .
He cited the Bank ’ s report in August that said firms could face a cash flow deficit in the current financial year of up to around £200bn .
Yet he said companies had successfully tapped financial @ @ @ @ @ @ @ said that a decade on from the financial crisis , “ the financial system is supporting the economy , not the other way around , and that is how it should be ” .

BoE governor Andrew Bailey: Vaccine ‘a big step forward’ for UK economy
Andrew Bailey, Bank of England governor
Bank of England governor Andrew Bailey has called the development of seemingly effective coronavirus vaccines “a big step forward” for the economy that could help lower uncertainty and get firms investing again.
Speaking at lobby group The City UK’s conference, Bailey said both coronavirus and Brexit had “increased uncertainty” and “restrained investment”. He also said that business investment had been “unusually weak” since the financial crisis, weighing on productivity.
Yet Bailey spoke optimistically about the vaccines developed by Moderna and Biontech and Pfizer, which appear to be more than 90 per cent effective.
“Of course there is a lot to do, and important steps to take and evidence to gather,” Bailey said. “But this is a big step forward, and it will play a major role in lowering the level of uncertainty.”
The governor – who took over from Mark Carney as the coronavirus crisis began in March – said there was “some light at the end of the tunnel”.
Yet Bailey said there was likely to be some “scarring” to the economy. That is, some longer-term pain as the economy adjusts to a new normal.
However, the BoE boss said the difficulties will not be like those seen in the 1980s and 1990s. Then, the economy was changing from being industry-based to services-based, with a particularly painful move away from mining.
Covid could ‘spur’ higher productivity
Bailey said the changes due to coronavirus will more likely be within the services sector. This can already be seen, with a focus on digital services over face-to-face work taking hold.
He said that Covid may even “be the spur” for an increase in productivity. A footnote to his speech suggested the pandemic “might open up the possibilities of new business models, products and ways of working”.
The governor again stressed that companies face big cash flow problems. He cited the Bank’s report in August that said firms could face a cash flow deficit in the current financial year of up to around £200bn.
Yet he said companies had successfully tapped financial markets and lenders for money. He said that a decade on from the financial crisis, “the financial system is supporting the economy, not the other way around, and that is how it should be”.


Watch it grow

Bitcoin continued to edge higher , making steady progress through the congestion area between $ 16,100-17,150 .
The risk on sentiment shows no sign of abating and the trend higher is therefore expected to remain in place .
With that in mind , the aggregate open interest ( OI ) rose yet again to a new record high and continuing with the recent theme , the OI increase was led by stablecoin margined futures as opposed to Bitcoin margined products .
As a result , the market is in a much healthier condition than it would have been if the @ @ @ @ @ @ @ not take place .
Not every venue offers stablecoin margined products and something to keep in mind is the provision of such products for alt coins and not just Bitcoin .
Looking at the network metrics and the hashrate has stabilised following the recent upside in the wake of a sharp mining difficulty adjustment lower and also as miners transitioned their ASIC hardware to coal-powered northern regions like Inner Mongolia and Xinjiang following the end of the rainy season in China ’ s Sichuan province .
The focus may be on Bitcoin and @ @ @ @ @ @ @ but elsewhere in the market , another theme looks set to be emerging and that is a heated battle for LPs by DeFi based venues .
More details will follow this week .
Crypto AM : Market View in association with Ziglu Crypto AM : Technically Speaking in association with with Zumo Crypto AM : Talking Legal in association with INX Crypto AM shines its Spotlight on ByteTree Asset Management

Crypto AM Daily in association with BEQUANT

Watch it grow
Beating Congestion
Bitcoin continued to edge higher, making steady progress through the congestion area between $16,100-17,150. The risk on sentiment shows no sign of abating and the trend higher is therefore expected to remain in place.
With that in mind, the aggregate open interest (OI) rose yet again to a new record high and continuing with the recent theme, the OI increase was led by stablecoin margined futures as opposed to Bitcoin margined products.
As a result, the market is in a much healthier condition than it would have been if the said transition into stablecoin margin products did not take place. Not every venue offers stablecoin margined products and something to keep in mind is the provision of such products for alt coins and not just Bitcoin.
In the Markets
Focus on the Hashrate
Looking at the network metrics and the hashrate has stabilised following the recent upside in the wake of a sharp mining difficulty adjustment lower and also as miners transitioned their ASIC hardware to coal-powered northern regions like Inner Mongolia and Xinjiang following the end of the rainy season in China’s Sichuan province.
The focus may be on Bitcoin and its looming re-test of an all-time high but elsewhere in the market, another theme looks set to be emerging and that is a heated battle for LPs by DeFi based venues. More details will follow this week.
Crypto AM: Longer Reads
Crypto AM: Market View in association with Ziglu
Crypto AM: Technically Speaking in association with with Zumo
Crypto AM: Talking Legal in association with INX
Crypto AM: Inside Blockchain with Troy Norcross
Crypto AM: Definitively DeFi
Crypto AM shines its Spotlight on ByteTree Asset Management
Crypto AM: Industry Voices