cityam--2020-12-31--Lockdown making you hate your home? Try these eight trends from London Design Week

Most of us are spending a lot more time at home thanks to the pandemic , throwing our bad decor decisions of the past into sharp relief .
If you ’ re thinking of giving your home an overhaul , here are eight of the key trends from London Design Week to inspire you for the year to come .
Florals are no longer safe and sedate – when it comes to motifs from the great outdoors , this season ’ s mantra is go hard , or go home .
From Pierre Frey ’ s flamingo-print fabric to Andrew @ @ @ @ @ @ @ giant graffiti-ed apples , the vibe is less English country garden and more tropical island paradise .
“ This season , there is a preference for the exotic and the idea of gardens as paradise on earth , with botanical motifs such as fragrant jasmine and orange trees making an appearance , ” says Design Centre Chelsea Harbour ’ s Becky Metcalfe .
If far-flung holidays are off the table this summer , maybe this is the next best thing .
Before everything got cancelled , Japan was having a bit of a @ @ @ @ @ @ @ of the Tokyo olympics , and there was an entire exhibition dedicated to kimonos at the V & A .
Keep the spirit alive with delicate , neutral pieces , natural materials and clever , functional design .
Our homes are now our castles whether we like it or not , so up the luxury ante by filling yours with tactile materials in a range of different textures .
At Design Week we saw brocades , jacquards , textured wallcoverings and thick , bouclé carpets .
Read more : Interiors : Working from @ @ @ @ @ @ @ to make it a bit more bearable Pierre Frey ’ s lustrous , paisley-patterned fabric in shades of deep pink and green would bring a touch of retro-inspired decadence to any lockdown lounge , while Italian designer Paola Lenti ’ s outdoor chairs use a combination of natural and industral materials to create bold , woven textures , and are also recyclable .
With our sofas now basically the centre of the universe , it ’ s more important than ever to have a good one .
Voluptuous , curvy shapes are where @ @ @ @ @ @ @ humble settee into a work of sculpture .
“ Furniture is simpler , with the padded silhouette an outward expression of reassuring comfort , ” says Metcalfe .
– and as well as being everywhere during Design Week , shapely sofas have been used in the new release of apartments at Clarges in Mayfair , which have just been completed by design studio Elicyon .
Like the weather outside that none of us can enjoy , the colour palette is warming up .
Last year ’ s fun and carefree millennial pinks have @ @ @ @ @ @ @ of rose , etruscan red and watermelon , while neutrals are also stepping up a gear .
Elicyon ’ s Charu Gandhi says the ubiquitous dove grey is being replaced by “ new , warm neutrals such as umber , burnt sienna and ochre.
” Another big trend at Design Week was natural materials .
Everything from banana fibre to marble turned up at the show , tying in with the vogue for products that display expert craftsmanship .
“ Humble finishes like terracotta , sisal and cork are being employed by designers @ @ @ @ @ @ @ ” says Metcalfe .
“ Whether it is a wallcovering made of shells or a handstitched leather lamp , these surfaces take immense skill and craftsmanship to perfect.
” If you were looking for a lockdown craft project , this might be the time to start .
Read more : Learn how to DIY your decor with these five London interior design courses Fashion designer Matthew Williamson launched a new collection of digitally-printed wallpapers at Design Week , in partnership with Osborne & Little – yes , that ’ s the family firm @ @ @ @ @ @ @ childhood daydreams , patterns on offer include a jungle filled with roaming tigers ; an inky night sky full of stars ; and wildflower meadow dotted with butterflies .
A glorious antithesis to everything minimal and understated .
For those who like to keep lines a bit cleaner , there were also plenty of architectural prints and angular objects .
“ An effective way to elevate any scheme can be through adding bold graphic print to the design , ” says Gandhi .
“ Complementing a neutral material palette with an unexpected dark @ @ @ @ @ @ @ compelling.
” The showrooms at Design Centre Chelsea Harbour are closed due to the lockdown , but you can find updates and information about the designers based there on its website : dcch.co.uk .

Lockdown making you hate your home? Try these eight trends from London Design Week
Tiger Grove Wallpaper, Daydreams Collection, £230 per roll, Matthew Williamson x Osborne & Little.
Most of us are spending a lot more time at home thanks to the pandemic, throwing our bad decor decisions of the past into sharp relief.
If you’re thinking of giving your home an overhaul, here are eight of the key trends from London Design Week to inspire you for the year to come.
Exotic prints
Florals are no longer safe and sedate – when it comes to motifs from the great outdoors, this season’s mantra is go hard, or go home. From Pierre Frey’s flamingo-print fabric to Andrew Martin’s bold bulb prints and giant graffiti-ed apples, the vibe is less English country garden and more tropical island paradise.
“This season, there is a preference for the exotic and the idea of gardens as paradise on earth, with botanical motifs such as fragrant jasmine and orange trees making an appearance,” says Design Centre Chelsea Harbour’s Becky Metcalfe. If far-flung holidays are off the table this summer, maybe this is the next best thing.
Turning Japanese
Before everything got cancelled, Japan was having a bit of a cultural moment. Excitement was building ahead of the Tokyo olympics, and there was an entire exhibition dedicated to kimonos at the V&A. Keep the spirit alive with delicate, neutral pieces, natural materials and clever, functional design.
Get touchy-feely
Our homes are now our castles whether we like it or not, so up the luxury ante by filling yours with tactile materials in a range of different textures. At Design Week we saw brocades, jacquards, textured wallcoverings and thick, bouclé carpets.
Pierre Frey’s lustrous, paisley-patterned fabric in shades of deep pink and green would bring a touch of retro-inspired decadence to any lockdown lounge, while Italian designer Paola Lenti’s outdoor chairs use a combination of natural and industral materials to create bold, woven textures, and are also recyclable.
Ahead of the curve
With our sofas now basically the centre of the universe, it’s more important than ever to have a good one. Voluptuous, curvy shapes are where it’s at, elevating the humble settee into a work of sculpture.
“Furniture is simpler, with the padded silhouette an outward expression of reassuring comfort,” says Metcalfe. – and as well as being everywhere during Design Week, shapely sofas have been used in the new release of apartments at Clarges in Mayfair, which have just been completed by design studio Elicyon.
Andrew Martin’s tulip wallpaper
Matthew Wiliamson x Osborne and Little wallpaper
Paola Lenti Orbitry chairs
Matthew Wiliamson x Osborne and Little wallpaper
Clarges Mayfair
Pierre Frey jacquard fabric
Pierre Frey’s flamingo fabric (centre) and Andrew Martin’s graffiti apple sculptures
Matthew Wiliamson x Osborne and Little wallpaper
Paint the town red
Like the weather outside that none of us can enjoy, the colour palette is warming up. Last year’s fun and carefree millennial pinks have given way to deeper, darker shades of rose, etruscan red and watermelon, while neutrals are also stepping up a gear.
Elicyon’s Charu Gandhi says the ubiquitous dove grey is being replaced by “new, warm neutrals such as umber, burnt sienna and ochre.”
Back to nature
Another big trend at Design Week was natural materials. Everything from banana fibre to marble turned up at the show, tying in with the vogue for products that display expert craftsmanship.
“Humble finishes like terracotta, sisal and cork are being employed by designers as if they are haute materials,” says Metcalfe. “Whether it is a wallcovering made of shells or a handstitched leather lamp, these surfaces take immense skill and craftsmanship to perfect.” If you were looking for a lockdown craft project, this might be the time to start.
Bold walls
Fashion designer Matthew Williamson launched a new collection of digitally-printed wallpapers at Design Week, in partnership with Osborne & Little – yes, that’s the family firm of former chancellor George.
Inspired by childhood daydreams, patterns on offer include a jungle filled with roaming tigers; an inky night sky full of stars; and wildflower meadow dotted with butterflies. A glorious antithesis to everything minimal and understated.
Graphic content
For those who like to keep lines a bit cleaner, there were also plenty of architectural prints and angular objects. “An effective way to elevate any scheme can be through adding bold graphic print to the design,” says Gandhi. “Complementing a neutral material palette with an unexpected dark abstract pattern makes it more dynamic and compelling.”
The showrooms at Design Centre Chelsea Harbour are closed due to the lockdown, but you can find updates and information about the designers based there on its website: dcch.co.uk.


cityam--2020-12-31--The year in charts: From the FTSE to Zoom's share price

2020 has been quite the ride .
So , to cap it off , we worked with our friends at Flourish to look at *quite* how wild it was… Global stock markets have had an odd year – from optimism to collapse to guarded positivity for the future .
Here ’ s how the FTSE 100 fared .
Currency markets were all over the shop , too .
But towards the end of the year Betty strengthened , meaning all those Londoners heading to New York for a bit of Christmas shopping saw their money go further ( Ed ’ @ @ @ @ @ @ @ ! )
And across Europe , GDP collapsed big-time in Q2 – with lockdowns dragging on far longer than expected .
The UK ’ s delayed reopening compared to Europe hit hard .
And it showed .
Employment rates fell significantly , even as the furlough scheme tried to keep people in jobs .
Some , however , had a better year .
Elon Musk went from twitter sensation to a bona-fide entrepreneur , and Wall St responded .
Oh , and something called Zoom did pretty well , too .
Hope you @ @ @

The year in charts: From the FTSE to Zoom’s share price
It started so well. (Photo by Leon Neal/Getty Images)
2020 has been quite the ride. So, to cap it off, we worked with our friends at Flourish to look at *quite* how wild it was…
Global stock markets have had an odd year – from optimism to collapse to guarded positivity for the future. Here’s how the FTSE 100 fared.
Currency markets were all over the shop, too. But towards the end of the year Betty strengthened, meaning all those Londoners heading to New York for a bit of Christmas shopping saw their money go further (Ed’s note: are you sure?!)
And across Europe, GDP collapsed big-time in Q2 – with lockdowns dragging on far longer than expected. The UK’s delayed reopening compared to Europe hit hard.
And it showed. Employment rates fell significantly, even as the furlough scheme tried to keep people in jobs.
Some, however, had a better year. Elon Musk went from twitter sensation to a bona-fide entrepreneur, and Wall St responded.
Oh, and something called Zoom did pretty well, too. Hope you bought in January…


cityam--2020-12-31--The City A.M. Punter Podcast EP:33 Sandown & Musselburgh New Year Meetings

The weather has already taken its ’ toll on this weekend ’ s racing after Cheltenham had to cancel their New Year ’ s Day meeting , but Musselburgh in Scotland goes ahead on Friday .
Sandown are hopeful of hosting a jumps card on Saturday , where the Grade 1 Tolworth Novices ’ Hurdle is the feature race .
Jockey Chester Williams joins us to talks about his two exciting Saturday rides at Sandown .
City AM racing editor Bill Esdaile previews the best of the jumps action this weekend .
Hosted by Chris Barnett .
About The City @ @ @ @ @ @ @ has been City AM ’ s dedicated sports betting section for over a decade with a primary focus on horseracing .
Throughout the season ‘ The Punter ’ will preview the weekend ’ s action every Friday along with in-depth coverage of all the major racing festivals .
In a partnership with the Hong Kong Jockey Club , ‘ The Punter ’ also previews every midweek Wednesday Hong Kong meeting as well as all the major meetings .
Every Friday , and for all major racing Festivals , the City AM racing podcast @ @ @ @ @ @ @ action .
Featuring interviews with leading trainers , jockeys and owners , the podcast is hosted by well-known racing broadcaster Chris Barnett who is joined by Bill Esdaile and Hong Kong racing expert Wally Pyrah City AM ’ s racing editor Bill Esdaile has written for the paper since 2008 .
He had previously written for publications including the Sporting Life , Racing Post and The Sportsman .
Each week he picks out his best bets for the weekend ’ s big racing action .
Chris Barnett has been a broadcasting specialist for @ @ @ @ @ @ @ , video and podcast presentation and production .
Since working at SIS , Betfair Radio , Timeform Radio , Royal Ascot , Glorious Goodwood , Cheltenham Festival Radio and more recently , Arena Racing , Chris has always been at the forefront of the top sporting events , grabbing interviews with those that matter .
Having spent most of the last decade out in Hong Kong working as a racing expert for the Hong Kong Jockey Club , Wally has teamed up with City AM to share his expert opinions on the weekly @ @ @ @ @ @ @ best bets for the weekend ’ s Hong Kong racing action .

The City A.M. Punter Podcast EP:33 Sandown & Musselburgh New Year Meetings
The weather has already taken its’ toll on this weekend’s racing after Cheltenham had to cancel their New Year’s Day meeting, but Musselburgh in Scotland goes ahead on Friday.
Sandown are hopeful of hosting a jumps card on Saturday, where the Grade 1 Tolworth Novices’ Hurdle is the feature race.
Jockey Chester Williams joins us to talks about his two exciting Saturday rides at Sandown.
City AM racing editor Bill Esdaile previews the best of the jumps action this weekend. Hosted by Chris Barnett.
About The City A.M. Punter Podcast
‘The Punter’ has been City AM’s dedicated sports betting section for over a decade with a primary focus on horseracing. Throughout the season ‘The Punter’ will preview the weekend’s action every Friday along with in-depth coverage of all the major racing festivals. In a partnership with the Hong Kong Jockey Club, ‘The Punter’ also previews every midweek Wednesday Hong Kong meeting as well as all the major meetings.
Every Friday, and for all major racing Festivals, the City AM racing podcast will give you in-depth analysis of the action. Featuring interviews with leading trainers, jockeys and owners, the podcast is hosted by well-known racing broadcaster Chris Barnett who is joined by Bill Esdaile and Hong Kong racing expert Wally Pyrah
Bill Esdaile
City AM’s racing editor Bill Esdaile has written for the paper since 2008. He had previously written for publications including the Sporting Life, Racing Post and The Sportsman. Each week he picks out his best bets for the weekend’s big racing action.
Chris Barnett
Chris Barnett has been a broadcasting specialist for over two decades, specialising in radio, video and podcast presentation and production. Since working at SIS, Betfair Radio, Timeform Radio, Royal Ascot, Glorious Goodwood, Cheltenham Festival Radio and more recently, Arena Racing, Chris has always been at the forefront of the top sporting events, grabbing interviews with those that matter.
Wally Pyrah
Having spent most of the last decade out in Hong Kong working as a racing expert for the Hong Kong Jockey Club, Wally has teamed up with City AM to share his expert opinions on the weekly racing action. He picks out his best bets for the weekend’s Hong Kong racing action.


cityam--2020-12-31--9 amazing watches that blew our minds this year

While many companies have struggled in 2020 , the watch industry has proven remarkably resiliant .
It has also released some truly stunning pieces that would look at home on the wrist of any self-respecting horology nerd .
Here are nine of the very best .
Read more : ‘ We will lose £400k ’ : The cost of Tier 3 for the hospitality sector Longines has been a long-time favourite brand at City A.M. , producing incredible watches that reference classic designs of the past .
This one is a particularly fine example , with its bold , clean @ @ @ @ @ @ @ to the elegance of the 1940s , with a sub dial in the lower half featuring a second hand .
So stripped back is the design , it even forgoes the usual “ Automatic ” tag .
This sumptuous limited edition creation is not a watch that blends in .
Featuring a flying tourbillon , a solid gold , hand engraved dial , a moon phase and date window , this is a horological masterclass , an instant classic that will look as wonderful in 100 years as it does today .
The @ @ @ @ @ @ @ fold fastener is the icing on the cake .
Get in quick – it ’ s limited to just 25 pieces .
Few brands say ‘ quality ’ quite like Patek Philippe , but even by that brand ’ s sky-high standards , this watch is a real stunner .
The manual winding chronograph comes in a white gold case with gilloched pushers and three-tier lugs .
But it ’ s the wide , confident blue dial that really gets our hearts racing – something that ’ s wonderfully complimented by the hand @ @ @ @ @ @ @ chunky 42mm piece from Bell & Ross is a real beauty .
Its square case is inspired by flight instruments , although the company says it ’ s perfectly suited to “ urban explorers ” .
The BR 05 is now equipped with a chronograph movement , making it a super-desirable piece for the horology fans in your life this Christmas .
£5,200 for the steel bracelet and £4,800 for the rubber strap , bellross.com Proving that haute horologie doesn ’ t have to come from the Swiss mountains , Grand Seiko has @ @ @ @ @ @ @ for years .
Its Grand Seiko Spring Drive Hi-Beat 80 Hours features the company ’ s new 9SA5 beat high mechanical caliber in a perfect union of form and function .
Then first watch to be powered by this incredibly accurate motor , the Spring Drive Hi-Beat 80 Hours is limited to just 100 pieces .
The links between aviation and wristwatches go all the way back to the first days mankind decided that scrabbling around in the mud was no longer enough for a species with such lofty ambitions .
But even @ @ @ @ @ @ @ collaboration between Seiko and Studio Ghibli is uncommonly wonderful .
Porco Rosso is the beloved animation studio ’ s very own flying pig , and this watch pays tribute to a modern classic with a modern classic of its own .
There are references to Porco ’ s fictitious 1920s , the 21-S Savoia , to be found in every aspect of the Presage ’ s design from the “ R ” on the dial to the green , white and red flourishes .
Even by Rolex ’ s standards , the Oyster @ @ @ @ @ @ @ brand ’ s first waterproof wristwatch , it was the foundations upon which Rolex has built its reputation since 1926 .
This new version exudes an easy grace , with its waterproof Oystersteel case housing a self-winding movement via a Perpetual rotor .
Available with a range of coloured dials , this elegant champagne is our pick of the bunch .
From £4,050 for the 28mm to £4,700 for the 41mm , rolex.com Limited to just 250 units , this striking timepiece comes from Jaeger-LeCoultre ’ s long tradition of creating ‘ chiming @ @ @ @ @ @ @ function demonstrates a mastery of watchmaking , that fabulous blue and silver dial , consisting of concentric circles , is a masterclass in design .
Simply put , this is a true show-stopper .
A maker of many exquisite timepieces with some wonderful design flourishes , this Overseas Self-Winding watch is a crisp and clean classic that leans into the trend for blue dials .
Instantly recognisable as a Vacheron , the ability to switch the bracelet for a range of straps makes this a versatile as well as beautiful piece .

9 amazing watches that blew our minds this year
Rolex Oyster Perpetual
While many companies have struggled in 2020, the watch industry has proven remarkably resiliant. It has also released some truly stunning pieces that would look at home on the wrist of any self-respecting horology nerd. Here are nine of the very best.
Longines Heritage Classic – Tuxedo
Bell & Ross BR 05 Chrono
Rolex New Oyster Perpetual
2020 Novelties
Patek Philippe Chronograph Ref. 5172G-001
Glashutte PanoLunar Tourbillon
Seiko Presage Porco Rosso
Longines Heritage Classic – Tuxedo
Longines has been a long-time favourite brand at City A.M., producing incredible watches that reference classic designs of the past. This one is a particularly fine example, with its bold, clean black and white design that harks back to the elegance of the 1940s, with a sub dial in the lower half featuring a second hand. So stripped back is the design, it even forgoes the usual “Automatic” tag.
£1,570, longines.com
Glashutte PanoLunar Tourbillon
This sumptuous limited edition creation is not a watch that blends in. Featuring a flying tourbillon, a solid gold, hand engraved dial, a moon phase and date window, this is a horological masterclass, an instant classic that will look as wonderful in 100 years as it does today. The blue Louisiana alligator leather strap with platinum fold fastener is the icing on the cake. Get in quick – it’s limited to just 25 pieces.
£115,100, glashuette-original.com
Patek Philippe Chronograph Ref. 5172G-001
Few brands say ‘quality’ quite like Patek Philippe, but even by that brand’s sky-high standards, this watch is a real stunner. The manual winding chronograph comes in a white gold case with gilloched pushers and three-tier lugs. But it’s the wide, confident blue dial that really gets our hearts racing – something that’s wonderfully complimented by the hand stitched navy blue calfskin strap.
£60,390, patek.com
Bell & Ross BR 05 Chrono
This chunky 42mm piece from Bell & Ross is a real beauty. Its square case is inspired by flight instruments, although the company says it’s perfectly suited to “urban explorers”. The BR 05 is now equipped with a chronograph movement, making it a super-desirable piece for the horology fans in your life this Christmas.
£5,200 for the steel bracelet and £4,800 for the rubber strap, bellross.com
Grand Seiko Spring Drive Hi-Beat 80 Hours
Proving that haute horologie doesn’t have to come from the Swiss mountains, Grand Seiko has been pushing the boundaries of mechanical watches for years. Its Grand Seiko Spring Drive Hi-Beat 80 Hours features the company’s new 9SA5 beat high mechanical caliber in a perfect union of form and function. Then first watch to be powered by this incredibly accurate motor, the Spring Drive Hi-Beat 80 Hours is limited to just 100 pieces.
~£41,000, grand-seikowatches.com
Seiko Presage Porco Rosso
The links between aviation and wristwatches go all the way back to the first days mankind decided that scrabbling around in the mud was no longer enough for a species with such lofty ambitions. But even with this esteemed history, this new collaboration between Seiko and Studio Ghibli is uncommonly wonderful.
Porco Rosso is the beloved animation studio’s very own flying pig, and this watch pays tribute to a modern classic with a modern classic of its own. There are references to Porco’s fictitious 1920s, the 21-S Savoia, to be found in every aspect of the Presage’s design from the “R” on the dial to the green, white and red flourishes.
From ~£3,700, seikowatches.com
Rolex New Oyster Perpetual
Even by Rolex’s standards, the Oyster Perpetual is a special watch. The brand’s first waterproof wristwatch, it was the foundations upon which Rolex has built its reputation since 1926. This new version exudes an easy grace, with its waterproof Oystersteel case housing a self-winding movement via a Perpetual rotor. Available with a range of coloured dials, this elegant champagne is our pick of the bunch.
From £4,050 for the 28mm to £4,700 for the 41mm, rolex.com
Jaeger-LeCoultre Master Control Memovox Timer
Limited to just 250 units, this striking timepiece comes from Jaeger-LeCoultre’s long tradition of creating ‘chiming’ wristwatches. And while the alarm function demonstrates a mastery of watchmaking, that fabulous blue and silver dial, consisting of concentric circles, is a masterclass in design. Simply put, this is a true show-stopper.
£13,900, jaeger-lecoultre.com
Vacheron Overseas Self-Winding
A maker of many exquisite timepieces with some wonderful design flourishes, this Overseas Self-Winding watch is a crisp and clean classic that leans into the trend for blue dials. Instantly recognisable as a Vacheron, the ability to switch the bracelet for a range of straps makes this a versatile as well as beautiful piece.
£44,800, vacheron-constantin.com


cityam--2020-12-31--FTSE slides on final half-day of trading before New Year

The FTSE 100 is ending 2020 appropriately , sliding on the last day of trading .
The market is on half-day duty today with traders able to celebrate New Year a little earlier .
Optimism which powered gains earlier this week has dissipated , with dispiriting news on vaccines rollout in the UK and the US giving traders a headache .
The index is down .86 per cent , recovering slightly from an earlier tumble of near 1.6 per cent .
A strong pound has also hit sentiment in the internationally-oriented FTSE 100 .
The more domestically-focussed FTSE 250 fell @ @ @ @ @ @ @ .
It has been a miserable year for the FTSE and indeed the wider economy .
Barring a minor miracle later today , the index will finish roughly 14 per cent down on the year .
Traders will also be assessing just how ‘ frictionless ’ the UK ’ s move to a new relationship with the European Union will actually be .
The Dax and CAC-40 were both also down , though to a lesser degree than London ’ s main market .
Read more : Could 2021 be the FTSE 100 @ @ @ @

It’s over: FTSE 100 finishes down 15 per cent on start of the year
(Photo by Henry Nicholls – WPA Pool/Getty Images)
The FTSE 100 ended 2020 appropriately, sliding on the last day of trading and finishing 15 per cent down on the year.
The market was on half-day duty today with traders able to celebrate New Year a little earlier.
Optimism which powered gains earlier this week has dissipated, with dispiriting news on vaccines rollout in the UK and the US giving traders a headache.
The index finished the day down 1.45 per cent.
A strong pound has also hit sentiment in the internationally-oriented FTSE 100.
It has been a miserable year for the FTSE and indeed the wider economy. It is the worst since 2008, at the height of the global financial crisis.
Traders will also be assessing just how ‘frictionless’ the UK’s move to a new relationship with the European Union will actually be.
Read more: Could 2021 be the FTSE 100’s year?


cityam--2020-12-31--Former Tesco chief Dave Lewis amongst New Year's Honours

Former Tesco boss Dave Lewis has been knighted in the New Year ’ s Honours List , alongside a number of business figures given gongs .
Ocado boss Melanie Smith receives a CBE in recognition of her firm ’ s upscaling during the lockdown pandemic , and Co-op retail chief Joanne Whitfield receives the same honour .
Read more : Retail wonks expect a better 2021 as vaccine boosts confidence In a list dominated more by health staff and civil servants , Christopher Woolard , who served as interim Chief Exec of the FCA this year , also becomes a @ @ @ @ @ @ @ Nicholls , who has been a vocal advocate for the hospitality industry throughout this terrible year for bars , pubs and restaurants , receives an OBE .
A number of staff at the Department for International Trade received honours , including the leader of the ‘ continuity ’ programme to sign equivalent deals with countries outside the EU that the UK enjoyed whilst still a member .
Other notable figures on the honours list this year include F1 champ Lewis Hamilton , former Attorney General Geoffrey Cox , and actress Sheila Hancock .
@ @ @ @ @ @ @ deal in just one day

Former Tesco chief Dave Lewis amongst New Year’s Honours
(Photo by Jack Taylor/Getty Images)
Former Tesco boss Dave Lewis has been knighted in the New Year’s Honours List, alongside a number of business figures given gongs.
Ocado boss Melanie Smith receives a CBE in recognition of her firm’s upscaling during the lockdown pandemic, and Co-op retail chief Joanne Whitfield receives the same honour.
Read more: Retail wonks expect a better 2021 as vaccine boosts confidence
In a list dominated more by health staff and civil servants, Christopher Woolard, who served as interim Chief Exec of the FCA this year, also becomes a Commander of the British Empire.
Kate Nicholls, who has been a vocal advocate for the hospitality industry throughout this terrible year for bars, pubs and restaurants, receives an OBE.
A number of staff at the Department for International Trade received honours, including the leader of the ‘continuity’ programme to sign equivalent deals with countries outside the EU that the UK enjoyed whilst still a member.
Other notable figures on the honours list this year include F1 champ Lewis Hamilton, former Attorney General Geoffrey Cox, and actress Sheila Hancock.
Architect David Chipperfield was also recognised.
Read more: UK passes Brexit trade deal in just one day


cityam--2020-12-31--Sports law in 2021: Data disputes, the evolution of esports, all eyes on Premier League TV rights, a

While there may not have been as much action on the pitch in 2020 , this year has been an eventful one for sports lawyers off the pitch to say the least .
Coronavirus has acted as a magnifying glass , intensifying the financial and legal pressures that those in the sports ecosystem face .
But how is 2021 shaping up from a sports law and governance perspective ?
We attempt to answer that question below , focusing on four key areas .
The exploitation of sports data is increasingly the subject of complex multi-million pound disputes .
In 2020 @ @ @ @ @ @ @ stakes can be in the supply of sports data and sports betting services .
Read more : Supersizing DAZN : Why a UK launch is just the start of the sport streaming service ’ s global ambitions Possibly the most high-profile dispute is between Sportradar and the Premier League ’ s official data collector , Genius Sports .
The dispute related to Sportradar ’ s inability to exploit such data itself without going through Genius .
The outcome of the case , which raises interesting arguments of competition law , is expected in @ @ @ @ @ @ @ impact on how live match data is collected and exploited .
Then there is “ Project Red Card ” .
It has been reported that a group of ex-professional footballers across the UK have threatened legal action under GDPR rules against a wide range of companies who they claim use athletes ’ data .
Those claims are relatively novel , and are a sign that data protection potentially gives athletes , and by implication fans , a wide set of rights .
Businesses using such data need to be aware of the potential @ @ @ @ @ @ @ are involved with these claims and it will be one to watch in 2021 .
These cases show that anyone working in the sports industry should carefully consider how they are using personal and other related sports data .
The professionalisation of esports continues to accelerate at a blistering pace .
In 2020 , European giants Fnatic secured a $ 10m investment before going on to successfully close a £2m crowdfunding round .
Similarly , fellow UK team Excel Esports continued their professional evolution by securing a groundbreaking partnership with a non-endemic sponsor @ @ @ @ @ @ @ new leadership , including the former director of global marketing at Adidas , to help further their aim of becoming a leading household brand .
However , it is not only esports teams that are looking to professionalise .
As demonstrated by the number of disputes , there ’ s been a real increase in esports players seeking to protect themselves by appointing their own legal advisors .
Take stars like Alex McMeekin who , after suffering burnout at his former team , sought the help of a lawyer , rather than using @ @ @ @ @ @ @ dollar move to US team , Cloud9 .
This marks an increasing trend of esports players realising exactly how much they are worth , refusing to sign unfair contracts , and taking steps to protect the exploitation of their image rights .
The next auction for domestic broadcast rights to show the Premier League from 2022-23 is set to conclude in 2021 .
The headline last time around was the entrance of Amazon , which secured 20 Premier League matches a season for its Prime Video platform .
The prospect of a bidding @ @ @ @ @ @ @ after the two companies announced a new long-term partnership .
That , coupled with the financial challenges of coronavirus , could see domestic rights income reduce for the second cycle in a row .
However , given the rise of other streaming platforms such as DAZN , which splashed onto the scene in 2018 signing the first ever $ 1bn boxing deal with Matchroom Boxing , having been advised by Mishcon , we could still see a challenge to the dominance of traditional broadcasters Sky and BT .
Either way , the legal @ @ @ @ @ @ @ with each side trying to protect its position from any pandemic-related disruption similar to what we have seen in 2020 .
Alongside this , the Premier League is rumoured to be considering dipping its toe in the streaming market with its own direct-to-consumer ( DTC ) model , emulating the NFL ’ s Game Pass and NBA ’ s League Pass .
If the Premier League does pursue this route , it could constitute a transformative shift in the rights model of English football , but also risks potentially damaging relationships with commercial @ @ @ @ @ @ @ more limited foray into DTC in a smaller jurisdiction is most likely .
One thing we know for sure : given last summer ’ s postponed events , 2021 will be a busy one from a sports perspective .
Events organisers , broadcasters and governing bodies on the one hand , and sponsors and other commercial parties on the other , will all be trying to maximise the value of their deals and make sure that the agreements that they enter into adequately protect them – so that , ultimately , all matters @ @ @ @ @ @ @ than in the courtroom .
Rather than taking a softer approach in light of the pandemic , sports regulators around the world seem to be gearing up for a year of introducing tougher rules .
For instance , following high-public defeats for the English Football League and Uefa in landmark judgments opposite Derby County and Manchester City respectively , we are likely to see changes to the regulatory regime that football clubs are subject to .
In particular , this could mean the introduction of salary caps in the Championship to replace the @ @ @ @ @ @ @ of several clubs will be hoping that the regulators take a sensible approach to enforcement , though , ultimately recognising diminution in value of club ’ s assets and revenues that were completely unforeseen and have impacted even the best run clubs .
We are also likely to see the imposition of stronger rules , including caps on fees , for agents .
Such measures will be hotly contested , though , and ironically , in light of Brexit , may be stopped in their tracks by legislation that originates from Brussels .
@ @ @ @ @ @ @ Tom Murray a sports lawyer at Mishcon de Reya .

Sports law in 2021: Data disputes, the evolution of esports, all eyes on Premier League TV rights, and rules tighten for clubs and agents
The Premier League’s domestic TV rights sale is set to be one of the big topics in sports law in 2021
While there may not have been as much action on the pitch in 2020, this year has been an eventful one for sports lawyers off the pitch to say the least.
Coronavirus has acted as a magnifying glass, intensifying the financial and legal pressures that those in the sports ecosystem face.
But how is 2021 shaping up from a sports law and governance perspective? We attempt to answer that question below, focusing on four key areas.
Day-to-day data use
The exploitation of sports data is increasingly the subject of complex multi-million pound disputes.
In 2020, we saw just how high the stakes can be in the supply of sports data and sports betting services.
Possibly the most high-profile dispute is between Sportradar and the Premier League’s official data collector, Genius Sports. The dispute related to Sportradar’s inability to exploit such data itself without going through Genius.
The outcome of the case, which raises interesting arguments of competition law, is expected in 2021 and will certainly have a major impact on how live match data is collected and exploited.
Then there is “Project Red Card”. It has been reported that a group of ex-professional footballers across the UK have threatened legal action under GDPR rules against a wide range of companies who they claim use athletes’ data.
Those claims are relatively novel, and are a sign that data protection potentially gives athletes, and by implication fans, a wide set of rights.
Businesses using such data need to be aware of the potential for such claims. Colleagues of ours are involved with these claims and it will be one to watch in 2021.
These cases show that anyone working in the sports industry should carefully consider how they are using personal and other related sports data.
Esports: it’s no longer just a game
The professionalisation of esports continues to accelerate at a blistering pace.
In 2020, European giants Fnatic secured a $10m investment before going on to successfully close a £2m crowdfunding round.
Similarly, fellow UK team Excel Esports continued their professional evolution by securing a groundbreaking partnership with a non-endemic sponsor, BT.
Excel also brought in new leadership, including the former director of global marketing at Adidas, to help further their aim of becoming a leading household brand.
However, it is not only esports teams that are looking to professionalise.
As demonstrated by the number of disputes, there’s been a real increase in esports players seeking to protect themselves by appointing their own legal advisors.
Alex McMeekin – aka ALEX – is one of the stars of esports who are realising their value
Take stars like Alex McMeekin who, after suffering burnout at his former team, sought the help of a lawyer, rather than using an agent, to secure a multi-million dollar move to US team, Cloud9.
This marks an increasing trend of esports players realising exactly how much they are worth, refusing to sign unfair contracts, and taking steps to protect the exploitation of their image rights.
Premier League: TV times
The next auction for domestic broadcast rights to show the Premier League from 2022-23 is set to conclude in 2021.
The headline last time around was the entrance of Amazon, which secured 20 Premier League matches a season for its Prime Video platform.
The prospect of a bidding war between Amazon and Sky recently narrowed after the two companies announced a new long-term partnership. That, coupled with the financial challenges of coronavirus, could see domestic rights income reduce for the second cycle in a row.
However, given the rise of other streaming platforms such as DAZN, which splashed onto the scene in 2018 signing the first ever $1bn boxing deal with Matchroom Boxing, having been advised by Mishcon, we could still see a challenge to the dominance of traditional broadcasters Sky and BT.
Either way, the legal terms will certainly be pored over, with each side trying to protect its position from any pandemic-related disruption similar to what we have seen in 2020.
Alongside this, the Premier League is rumoured to be considering dipping its toe in the streaming market with its own direct-to-consumer (DTC) model, emulating the NFL’s Game Pass and NBA’s League Pass.
If the Premier League does pursue this route, it could constitute a transformative shift in the rights model of English football, but also risks potentially damaging relationships with commercial partners. In our view, a more limited foray into DTC in a smaller jurisdiction is most likely.
One thing we know for sure: given last summer’s postponed events, 2021 will be a busy one from a sports perspective.
Events organisers, broadcasters and governing bodies on the one hand, and sponsors and other commercial parties on the other, will all be trying to maximise the value of their deals and make sure that the agreements that they enter into adequately protect them – so that, ultimately, all matters can be settled on the field rather than in the courtroom.
Regulators on a roll
Rather than taking a softer approach in light of the pandemic, sports regulators around the world seem to be gearing up for a year of introducing tougher rules.
For instance, following high-public defeats for the English Football League and Uefa in landmark judgments opposite Derby County and Manchester City respectively, we are likely to see changes to the regulatory regime that football clubs are subject to.
In particular, this could mean the introduction of salary caps in the Championship to replace the existing financial fair play rules.
Fans of several clubs will be hoping that the regulators take a sensible approach to enforcement, though, ultimately recognising diminution in value of club’s assets and revenues that were completely unforeseen and have impacted even the best run clubs.
We are also likely to see the imposition of stronger rules, including caps on fees, for agents.
Such measures will be hotly contested, though, and ironically, in light of Brexit, may be stopped in their tracks by legislation that originates from Brussels.
Simon Leaf is head of sport and Tom Murray a sports lawyer at Mishcon de Reya.


cityam--2020-12-31--FirstGroup offload three US properties in £100m deal

Transport outfit FirstGroup have offloaded three properties used by its US bus group , Greyhound , in deals worth £102m @ @ @ @ @ the deal to the stock market this morning .
The biggest of the three deals @ @ @ @ @ Greyhound ’ s Los Angeles terminal to a subsidiary of property firm Prologis for $ @ @ @ @ @ Deals have also been struck on properties in Denver and in Ottawa , with the @ @ @ @ @ service from parts of Canada last year .
First has a sizable footprint in the @ @ @ @ @ services is the largest provider of school transit with a fleet of 43,000 yellow buses @ @ @ @ @ Brexit deal passes Parliament in one day

FirstGroup offload three US properties in £100m deal
(Photo by Mario Tama/Getty Images)
Transport outfit FirstGroup have offloaded three properties used by its US bus group, Greyhound, in deals worth £102m.
The Aberdeen-based firm confirmed the deal to the stock market this morning.
The biggest of the three deals is an agreement to sell Greyhound’s Los Angeles terminal to a subsidiary of property firm Prologis for $88m (£65m).
Deals have also been struck on properties in Denver and in Ottawa, with the latter coming after Greyhound withdrew service from parts of Canada last year.
First has a sizable footprint in the US, and amongst other services is the largest provider of school transit with a fleet of 43,000 yellow buses.
Read more: UK Brexit deal passes Parliament in one day


cityam--2020-12-31--Boris Johnson: UK 'rediscovered a spirit of togetherness' in 'grim' 2020

Boris Johnson has used his New Year ’ s Eve message to say the UK has “ rediscovered a spirit of togetherness ” in 2020 , but that there “ will be plenty of people who will be only too happy to say goodbye to the grimness of 2020 ” .
The Prime Minister also said the UK approval of two Covid vaccines this month means “ we can see that illuminated sign that marks the end of the journey , and even more important , we can see with growing clarity how we are going to get there ” @ @ @ @ @ @ @ can immunise everyone by spring with 24/7 vaccinations , says top GP It comes as the UK has now passed 70,000 Covid deaths and daily rates of new infections are at their highest ever point .
There are also now more people in hospital with Covid than there was at the height of the first peak .
Johnson said : “ [ 2020 was ] the year in which the Government was forced to tell people how to live their lives , how long to wash their hands , how many households could @ @ @ @ @ @ @ which we lost too many loved ones before their time .
“ So I can imagine that there will be plenty of people who will be only too happy to say goodbye to the grimness of 2020 .
But just before we do , I want to remind you that this was also the year when we rediscovered a spirit of togetherness , of community .
“ It was a year in which we banged saucepans to celebrate the courage and self-sacrifice of our NHS staff and care home workers .
A year @ @ @ @ @ @ @ out to keep the country moving in the biggest crisis we have faced for generations – shopworkers , transport staff , pharmacists , emergency services , everyone , you name it.
” The UK will begin the rollout of the AstraZeneca rollout on Monday , with health secretary Matt Hancock hoping 2m jabs will be administered a week .
The government ’ s plan is to vaccinate as many people as possible before giving them the second dose , needed to ensure long-term immunisation , 12 weeks later .
Previously the plan was @ @ @ @ @ @ @ dose within two weeks .
“ I believe 2021 is above all , the year when we will eventually do those everyday things that now seem lost in the past , ” Boris Johnson said .
“ Bathed in a rosy glow of nostalgia , going to the pub , concerts , theatres , restaurants , or simply holding hands with our loved ones in the normal way .
Read more : Covid : Another 981 UK deaths in biggest daily toll for eight months “ We are still a way off from @ @ @ @ @ @ @ months ahead .
“ But we can see that illuminated sign that marks the end of the journey , and even more important , we can see with growing clarity how we are going to get there .
”

Boris Johnson: UK ‘rediscovered a spirit of togetherness’ in ‘grim’ 2020
Boris Johnson has used his New Year’s Eve message to say the UK has “rediscovered a spirit of togetherness” in 2020, but that there “will be plenty of people who will be only too happy to say goodbye to the grimness of 2020”.
The Prime Minister also said the UK approval of two Covid vaccines this month means “we can see that illuminated sign that marks the end of the journey, and even more important, we can see with growing clarity how we are going to get there”.
It comes as the UK has now passed 70,000 Covid deaths and daily rates of new infections are at their highest ever point.
There are also now more people in hospital with Covid than there was at the height of the first peak.
Johnson said: “[2020 was] the year in which the Government was forced to tell people how to live their lives, how long to wash their hands, how many households could meet together. And a year in which we lost too many loved ones before their time.
“So I can imagine that there will be plenty of people who will be only too happy to say goodbye to the grimness of 2020. But just before we do, I want to remind you that this was also the year when we rediscovered a spirit of togetherness, of community.
“It was a year in which we banged saucepans to celebrate the courage and self-sacrifice of our NHS staff and care home workers. A year in which working people pulled the stops out to keep the country moving in the biggest crisis we have faced for generations – shopworkers, transport staff, pharmacists, emergency services, everyone, you name it.”
The UK will begin the rollout of the AstraZeneca rollout on Monday, with health secretary Matt Hancock hoping 2m jabs will be administered a week.
The government’s plan is to vaccinate as many people as possible before giving them the second dose, needed to ensure long-term immunisation, 12 weeks later.
Previously the plan was to give people the first and second dose within two weeks.
“I believe 2021 is above all, the year when we will eventually do those everyday things that now seem lost in the past,” Boris Johnson said.
“Bathed in a rosy glow of nostalgia, going to the pub, concerts, theatres, restaurants, or simply holding hands with our loved ones in the normal way.
“We are still a way off from that, there are tough weeks and months ahead.
“But we can see that illuminated sign that marks the end of the journey, and even more important, we can see with growing clarity how we are going to get there.”


cityam--2020-12-31--UK has record 56,000 Covid cases on last day of 2020

The UK has recorded 964 deaths from Covid on the last day of 2020 as cases continue to surge to record levels across the country .
The government reported another 55,892 new Covid cases today – a new single day record for the country .
Read more : Covid : Another 981 UK deaths in biggest daily toll for eight months The total number of UK deaths from coronavirus has now hit 73,512 , which is the sixth highest total in the world and the second highest total in Europe .
There have been 14,959 Covid-related hospitalisations in the past @ @ @ @ @ @ @ increase of 19.4 per cent .
The government put three-quarters of the country into lockdown yesterday , with Boris Johnson saying yesterday the country needed to “ redouble our efforts to contain the virus ” .
Before the Open newsletter : Start your day with the City View podcast and key market data “ No one regrets these measures more bitterly than I do , but we must take firm action now , ” he said .
The Department of Health also reported today that 944,539 people in the UK have now received @ @ @ @ @ @ @ vaccine .
This number is expected to shoot up drastically over the next week , after the UK ’ s medicines regulator approved the Oxford University/AstraZeneca vaccine .
Read more : Covid : UK can immunise everyone by spring with 24/7 vaccinations , says top GP There are already millions of doses of AstraZeneca jab ready to administer in the UK and it is far easier to transport and store as it does not need to be kept at -70 degrees like the Pfizer vaccine .
Health secretary Matt Hancock wants the country @ @ @ @ @ @ @ week .

UK has record 56,000 Covid cases on last day of 2020
Ambulances wait outside King’s College Hospital on Tuesday
The UK has recorded 964 deaths from Covid on the last day of 2020 as cases continue to surge to record levels across the country.
The government reported another 55,892 new Covid cases today – a new single day record for the country.
The total number of UK deaths from coronavirus has now hit 73,512, which is the sixth highest total in the world and the second highest total in Europe.
There have been 14,959 Covid-related hospitalisations in the past seven days, which is a weekly increase of 19.4 per cent.
The government put three-quarters of the country into lockdown yesterday, with Boris Johnson saying yesterday the country needed to “redouble our efforts to contain the virus”.
Before the Open newsletter: Start your day with the City View podcast and key market data
“No one regrets these measures more bitterly than I do, but we must take firm action now,” he said.
The Department of Health also reported today that 944,539 people in the UK have now received the first dose of the Pfizer/BioNTech coronavirus vaccine.
This number is expected to shoot up drastically over the next week, after the UK’s medicines regulator approved the Oxford University/AstraZeneca vaccine.
There are already millions of doses of AstraZeneca jab ready to administer in the UK and it is far easier to transport and store as it does not need to be kept at -70 degrees like the Pfizer vaccine.
Health secretary Matt Hancock wants the country soon to be vaccinating 2m people a week.


cityam--2020-12-31--Covid: UK can immunise everyone by spring with 24/7 vaccinations, says top GP

The UK can vaccinate its entire population against Covid-19 by spring if the government starts a 24-hour programme using venues like football stadiums , according to the former Royal College of General Practitioners chair .
Dame Clare Gerada said today that the UK “ can ’ t just rely on GP surgeries ” to administer the vaccines and that the country needs “ a massive operational system ” to hit the government ’ s 2m jabs a week target .
Read more : Three quarters of small businesses set to hire next year as vaccine boosts confidence The UK ’ @ @ @ @ @ @ @ University/AstraZeneca vaccine , making it the second jab it has deemed to be safe .
The vaccine is set to be rolled out from next Monday , with millions of doses already available .
The vaccine is easier to store , transport and administer than the Pfizer/BioNTech vaccine as it does not have to be kept at -70-degree temperature .
Gerarda told the BBC today that the UK should be able to vaccinate the whole country against Covid by spring , thanks to the AstraZeneca vaccine , if unused venues are used to @ @ @ @ @ @ @ “ For general practitioners of course we ’ re going to play our part , as we did with the Pfizer one , but we ’ re limited by staff , we ’ re limited by practical issues of getting people in – frail , elderly people .
“ If we can scale this up , if we can get a mass operational system up and running then I don ’ t see why we can ’ t get the whole population immunised by the spring .
“ But we can ’ t @ @ @ @ @ @ @ calling people in .
It ’ s got to be football stadia , all these large venues we ’ ve got currently lying dormant.
” Read more : Breaking : Oxford-AstraZeneca vaccine approved for UK use Health secretary Matt Hancock told MPs yesterday that the UK could administer 2m jabs a week “ if we can get the manufacturing up to that speed ” .
AstraZeneca boss Pascal Soriot has said this is possible .

Covid: UK can immunise everyone by spring with 24/7 vaccinations, says top GP
The success of the vaccine rollout is in part responsible for the lowering of the UK’s Covid threat level.
The UK can vaccinate its entire population against Covid-19 by spring if the government starts a 24-hour programme using venues like football stadiums, according to the former Royal College of General Practitioners chair.
Dame Clare Gerada said today that the UK “can’t just rely on GP surgeries” to administer the vaccines and that the country needs “a massive operational system” to hit the government’s 2m jabs a week target.
The UK’s medicines regulator yesterday approved the Oxford University/AstraZeneca vaccine, making it the second jab it has deemed to be safe.
The vaccine is set to be rolled out from next Monday, with millions of doses already available.
The vaccine is easier to store, transport and administer than the Pfizer/BioNTech vaccine as it does not have to be kept at -70-degree temperature.
Gerarda told the BBC today that the UK should be able to vaccinate the whole country against Covid by spring, thanks to the AstraZeneca vaccine, if unused venues are used to administer the jab.
She said: “For general practitioners of course we’re going to play our part, as we did with the Pfizer one, but we’re limited by staff, we’re limited by practical issues of getting people in – frail, elderly people.
“If we can scale this up, if we can get a mass operational system up and running then I don’t see why we can’t get the whole population immunised by the spring.
“But we can’t just rely on GP surgeries to be calling people in. It’s got to be football stadia, all these large venues we’ve got currently lying dormant.”
Health secretary Matt Hancock told MPs yesterday that the UK could administer 2m jabs a week “if we can get the manufacturing up to that speed”.
AstraZeneca boss Pascal Soriot has said this is possible.


cityam--2020-12-31--It's over: FTSE 100 finishes down 15 per cent on start of the year

The FTSE 100 ended 2020 appropriately , sliding on the last day of trading and finishing 15 per cent down @ @ @ @ @ market was on half-day duty today with traders able to celebrate New Year a little @ @ @ @ @ gains earlier this week has dissipated , with dispiriting news on vaccines rollout in the @ @ @ @ @ traders a headache .
The index finished the day down 1.45 per cent .
A @ @ @ @ @ sentiment in the internationally-oriented FTSE 100 .
It has been a miserable year for the @ @ @ @ @ economy .
It is the worst since 2008 , at the height of the global @ @ @ @ @ also be assessing just how ‘ frictionless ’ the UK ’ s move to a @ @ @ @ @ Union will actually be .
Read more : Could 2021 be the FTSE 100 ’ @ @ @


cityam--2020-04-01--Treasury set to overhaul coronavirus loan scheme to avoid insolvencies

The chancellor Rishi Sunak is reportedly set to overhaul the government ’ s emergency coronavirus loan scheme over concerns that small and medium sized businesses may go bust before they can access the funds .
Sky News reported Sunak is set to announce that the requirement for banks to assess whether companies are eligible for other funding products before allowing them to access the Coronavirus Business Interruption Loan Scheme will be scrapped .
Read more : UK mobilises army , navy and air force reservists for coronavirus fight The report said Sunak and his Treasury officials have been in talks @ @ @ @ @ @ @ , Royal Bank of Scotland and Lloyds Banking Group over the changes .
The change would be designed at speeding up decision making within banks to help companies access the loans of up to £5m .
The move would follow controversy over the way the banks have administered the scheme , with reports business-owners are being denied loans or forced to use standard loan products .
Under the reformed scheme , any viable business with a turnover of up to £45m will be able to access the programme .
The loan will be @ @ @ @ @ @ @ 12 months , but companies will have to show they are viable and have the ability to pay back the loan .
Read more : FTSE 100 tumbles after coronavirus forces banks to cut dividends Banks have also been heavily criticised for insisting on personal guarantees from directors , even though the government is guaranteeing 80 per cent of the loan .
The report said banks have agreed to waive any outstanding demands for personal guarantees on loans up to £250,000 .
Personal guarantees on loans above £250,000 will be used to cover @ @ @ @ @ @ @ not underwrite by the government , the report said citing sources .

Treasury set to overhaul coronavirus loan scheme to avoid insolvencies
The chancellor Rishi Sunak is reportedly set to overhaul the government’s emergency coronavirus loan scheme over concerns that small and medium sized businesses may go bust before they can access the funds.
Sky News reported Sunak is set to announce that the requirement for banks to assess whether companies are eligible for other funding products before allowing them to access the Coronavirus Business Interruption Loan Scheme will be scrapped.
The report said Sunak and his Treasury officials have been in talks with lenders such as HSBC, Barclays, Royal Bank of Scotland and Lloyds Banking Group over the changes.
The change would be designed at speeding up decision making within banks to help companies access the loans of up to £5m.
The move would follow controversy over the way the banks have administered the scheme, with reports business-owners are being denied loans or forced to use standard loan products.
Under the reformed scheme, any viable business with a turnover of up to £45m will be able to access the programme.
The loan will be interest and charge free for the first 12 months, but companies will have to show they are viable and have the ability to pay back the loan.
Banks have also been heavily criticised for insisting on personal guarantees from directors, even though the government is guaranteeing 80 per cent of the loan.
The report said banks have agreed to waive any outstanding demands for personal guarantees on loans up to £250,000.
Personal guarantees on loans above £250,000 will be used to cover the 20 per cent of the loan not underwrite by the government, the report said citing sources.
The Treasury declined to comment.


cityam--2020-04-01--UK urged to include private sector to ramp up coronavirus testing

The UK must utilise the country ’ s private laboratories if it is going to reach its coronavirus testing targets , according to a report from a leading London think tank .
The government is beginning to face scathing criticism as it fails to meet testing targets and as the UK falls further behind other OECD countries in testing rates .
Read more : Just 2,000 frontline NHS England staff have had coronavirus tests A report out today from the free market Adam Smith Institute think tank argues that the decision to “ centralise testing to a single Public Health @ @ @ @ @ @ @ hampered its efforts .
The institute said PHE should use the UK ’ s 120 private laboratories to conduct Covid-19 testing and should “ expand usage of 474 NHS laboratories ” and dozens of university laboratories .
The report added that the government should issue a call-to-arms of private companies to help manufacture large numbers of testing kits , similar to what has been done with ventilators .
The report ’ s author , and Adam Smith Institute head of research , Matthew Lesh said : “ The UK ’ s COVID-19 testing @ @ @ @ @ @ @ and hostile to outsiders and innovation.
” The institute ’ s plan was backed by Health and Social Care Select Committee chair , and former health secretary , Jeremy Hunt .
“ A mass community testing plan is challenging , but not impossible if we mobilise in the way we have to produce ventilators , ” he said .
“ That means tapping into every laboratory , every pharmaceutical company and every university in the country without delay.
” The World Health Organisation ’ s ( WHO ) advice to countries has been @ @ @ @ @ @ @ ” for Covid-19 in order to track the spread of the disease .
The UK has now administered 151 , 979 tests , putting it in the bottom 25 per cent of OECD countries .
On a per capita basis , South Korea has tested four-times as many people as the UK , Germany almost three-times and the United States almost two-times .
The government is aiming to reach 25,000 tests a day in a little over two weeks , which would be more than a twofold increase on current levels .
Read @ @ @ @ @ @ @ administer coronavirus tests , minister admits Cabinet Office minister Michael Gove said yesterday there was a global shortage of the chemicals needed to administer Covid-19 tests .
He said this was putting a “ critical constraint ” on the country ’ s ability to meet its targets .

UK urged to include private sector to ramp up coronavirus testing
The UK must utilise the country’s private laboratories if it is going to reach its coronavirus testing targets, according to a report from a leading London think tank.
The government is beginning to face scathing criticism as it fails to meet testing targets and as the UK falls further behind other OECD countries in testing rates.
A report out today from the free market Adam Smith Institute think tank argues that the decision to “centralise testing to a single Public Health England (PHE) laboratory” has hampered its efforts.
The institute said PHE should use the UK’s 120 private laboratories to conduct Covid-19 testing and should “expand usage of 474 NHS laboratories” and dozens of university laboratories.
The report added that the government should issue a call-to-arms of private companies to help manufacture large numbers of testing kits, similar to what has been done with ventilators.
The report’s author, and Adam Smith Institute head of research, Matthew Lesh said: “The UK’s COVID-19 testing has been dangerously slow, excessively bureaucratic and hostile to outsiders and innovation.”
The institute’s plan was backed by Health and Social Care Select Committee chair, and former health secretary, Jeremy Hunt.
“A mass community testing plan is challenging, but not impossible if we mobilise in the way we have to produce ventilators,” he said.
“That means tapping into every laboratory, every pharmaceutical company and every university in the country without delay.”
The World Health Organisation’s (WHO) advice to countries has been to “test, test, test” for Covid-19 in order to track the spread of the disease.
The UK has now administered 151, 979 tests, putting it in the bottom 25 per cent of OECD countries.
On a per capita basis, South Korea has tested four-times as many people as the UK, Germany almost three-times and the United States almost two-times.
The government is aiming to reach 25,000 tests a day in a little over two weeks, which would be more than a twofold increase on current levels.
Cabinet Office minister Michael Gove said yesterday there was a global shortage of the chemicals needed to administer Covid-19 tests.
He said this was putting a “critical constraint” on the country’s ability to meet its targets.


cityam--2020-04-01--UK mobilises army, navy and air force reservists for coronavirus fight

The UK has mobilised 3,000 army , navy and air force reservists to help fight the coronavirus pandemic , the Ministry of Defence said today .
“ It is expected that 3,000 reservists will be required as part of this tranche and will initially be mobilised for six months , to be kept under review , ” the ministry said .
Read more : Coronavirus : London ’ s Excel centre set to open 500 hospital beds next week “ The reserve forces will be used to help deliver a range of activities , such as providing additional medical and @ @ @ @ @ @ @ as liaison officers and deploying specialist skills such as engineering and accounting.
” Only reservists with specific skills required by the public sector will be mobilised .
No NHS staff or others delivering frontline public services will be called up .
Read more : Southend Hospital will ‘ restrict services ’ without more protective equipment The army has already played a role in the effort to combat coronavirus .
Last month the defence minister Ben Wallace announced a force of 1,000 troops would help support the NHS and the public sector during the @ @ @ @ @ @ @ on the construction of the emergency Nightingale hospital in London ’ s Excel exhibition centre .
In Scotland , army helicopters have been assisting the Scottish Ambulance service .

UK mobilises army, navy and air force reservists for coronavirus fight
The UK has mobilised 3,000 army, navy and air force reservists to help fight the coronavirus pandemic, the Ministry of Defence said today.
“It is expected that 3,000 reservists will be required as part of this tranche and will initially be mobilised for six months, to be kept under review,” the ministry said.
“The reserve forces will be used to help deliver a range of activities, such as providing additional medical and logistical support for the NHS, acting as liaison officers and deploying specialist skills such as engineering and accounting.”
Only reservists with specific skills required by the public sector will be mobilised.
No NHS staff or others delivering frontline public services will be called up.
The army has already played a role in the effort to combat coronavirus.
Last month the defence minister Ben Wallace announced a force of 1,000 troops would help support the NHS and the public sector during the crisis.
Army engineers have been working on the construction of the emergency Nightingale hospital in London’s Excel exhibition centre.
In Scotland, army helicopters have been assisting the Scottish Ambulance service.


cityam--2020-04-01--Nearly 1m people apply for Universal Credit as coronavirus lockdown paralyses economy

Nearly 1m people in the UK have applied for Universal Credit in the two weeks since Prime Minister Boris Johnson implemented strict lockdown measures , the government said today .
There are normally around 100,000 applicants per two week period – in the last two weeks there were 950,000 .
The government has moved 10,000 staff to process the claims and is recruiting more to help shift the backlog .
Read more : Nationwide further tightens criteria for new mortgages as coronavirus crisis bites “ With such a huge increase in claims there are pressures on our services , but @ @ @ @ @ @ @ these and our dedicated staff are working flat-out to get people the support they need , ” a spokesman for the Department of Work and Pensions said .
The number of Universal Credit claimants is not a proxy for unemployment figures , as it is possible to apply while still in work , but a YouGov survey on March 24 found that one in 20 people in the UK had already lost their job due to coronavirus .
Torsten Bell , chief executive of the Resolution Foundation , said : “ We have @ @ @ @ @ @ @ is not remotely normal even in the grim circumstances of a recession.
” As businesses , shops , restaurants and bars are closed , the government has offered to pay 80 per cent of employees ’ wages if their company keeps them on – but there is no incentive for an employer to apply for this .
Read more : FTSE 100 tumbles after coronavirus forces banks to cut dividends Britain ’ s 5m self-employed people will not hear about whether or not they are eligible for similar aid until June .
Universal @ @ @ @ @ @ @ least five weeks .
Last week the number of Americans filing for unemployment benefit shot up to a record high of over 3m in the week ending 21 March , dwarfing the previous peak of 665,000 in a week in 1982 .
US unemployment data for the week ending 28 March is due on Thursday .

Nearly 1m people apply for Universal Credit as coronavirus lockdown paralyses economy
Just a third of young people who lost their jobs due to Covid-19 have found new work
Nearly 1m people in the UK have applied for Universal Credit in the two weeks since Prime Minister Boris Johnson implemented strict lockdown measures, the government said today.
There are normally around 100,000 applicants per two week period – in the last two weeks there were 950,000.
The government has moved 10,000 staff to process the claims and is recruiting more to help shift the backlog.
“With such a huge increase in claims there are pressures on our services, but the system is standing up well to these and our dedicated staff are working flat-out to get people the support they need,” a spokesman for the Department of Work and Pensions said.
The number of Universal Credit claimants is not a proxy for unemployment figures, as it is possible to apply while still in work, but a YouGov survey on March 24 found that one in 20 people in the UK had already lost their job due to coronavirus.
Torsten Bell, chief executive of the Resolution Foundation, said: “We have never seen anything like this – it is not remotely normal even in the grim circumstances of a recession.”
As businesses, shops, restaurants and bars are closed, the government has offered to pay 80 per cent of employees’ wages if their company keeps them on – but there is no incentive for an employer to apply for this.
Britain’s 5m self-employed people will not hear about whether or not they are eligible for similar aid until June.
Universal Credit has a waiting period of at least five weeks.
Last week the number of Americans filing for unemployment benefit shot up to a record high of over 3m in the week ending 21 March, dwarfing the previous peak of 665,000 in a week in 1982.
US unemployment data for the week ending 28 March is due on Thursday.


cityam--2020-04-01--Nationwide further tightens criteria for new mortgages as coronavirus crisis bites

Building society Nationwide has further tightened its lending criteria , excluding bonus , overtime and commission as income it recognises for new mortgage applications .
The move follows its decision yesterday to withdraw its offering for low deposit borrowers .
Read more : Nationwide pulls sales of mortgages for small deposit holders Nationwide yesterday withdrew mortgages above 75 per cent loan-to-value ( LTV ) from its online and broker channels and restricted them for people seeking remortgages and first time buyers .
Today , the building society confirmed the new restrictions on the type of income it will recognise which @ @ @ @ @ @ @ tomorrow .
A Nationwide spokesperson said : “ Although Nationwide continues to process as many applications as possible , as a responsible lender it is important that we ensure that members can afford their mortgage payments during these uncertain times .
“ As a result , we are temporarily removing bonus , overtime and commission as income we can accept on new mortgage applications , but we will keep this position under regular review .
“ These changes are for new applications made as of 2 April and do not impact existing applications @ @ @ @ @ @ @ Last week , the government effectively put the UK ’ s housing market on hold , urging people in the early stages of buying or selling houses to delay the process and stopping estate agents from marketing new homes .
Nationwide is the latest lender to pull mortgage products from the market as providers rush to manage the fallout from the coronavirus pandemic .
Lloyds Banking Group — which includes Halifax and Scottish Widows and is the UK ’ s largest lender — has capped lending at 60 per cent LTV .
Barclays @ @ @ @ @ @ @ it is accepting from brokers and has limited high LTV products , while Vida Homeloans and Together Money have halted all new mortgage lending .

Nationwide further tightens criteria for new mortgages as coronavirus crisis bites
Building society Nationwide has further tightened its lending criteria, excluding bonus, overtime and commission as income it recognises for new mortgage applications.
The move follows its decision yesterday to withdraw its offering for low deposit borrowers.
Nationwide yesterday withdrew mortgages above 75 per cent loan-to-value (LTV) from its online and broker channels and restricted them for people seeking remortgages and first time buyers.
Today, the building society confirmed the new restrictions on the type of income it will recognise which it said would come into effect from tomorrow.
A Nationwide spokesperson said: “Although Nationwide continues to process as many applications as possible, as a responsible lender it is important that we ensure that members can afford their mortgage payments during these uncertain times.
“As a result, we are temporarily removing bonus, overtime and commission as income we can accept on new mortgage applications, but we will keep this position under regular review.
“These changes are for new applications made as of 2 April and do not impact existing applications, which will continue to progress.”
Last week, the government effectively put the UK’s housing market on hold, urging people in the early stages of buying or selling houses to delay the process and stopping estate agents from marketing new homes.
Nationwide is the latest lender to pull mortgage products from the market as providers rush to manage the fallout from the coronavirus pandemic.
Lloyds Banking Group — which includes Halifax and Scottish Widows and is the UK’s largest lender — has capped lending at 60 per cent LTV.
Barclays has limited the number of mortgage applications it is accepting from brokers and has limited high LTV products, while Vida Homeloans and Together Money have halted all new mortgage lending.


cityam--2020-04-01--Southend Hospital will 'restrict services' without more protective equipment

Staff at Essex ’ s Southend Hospital have warned they may have to limit services if they do not receive more protective equipment to treat coronavirus patients .
Frontline staff at the hospital wrote to management to say that if they did not get an increase in personal protective equipment ( PPE ) by the end of the day they will introduce “ restricted services ” .
Read more : Just 2,000 frontline NHS England staff have had coronavirus tests An estimated 25 per cent of frontline staff at the hospital are off sick with coronavirus symptoms .
They told @ @ @ @ @ @ @ was limited stock of PPE and what was available was being rationed , according to BBC Essex .
The letter also said staff were “ petrified ” of working in high-risk areas with Covid-19 patients .
In a statement , Southend Hospital said : “ We are fully complying with the Public Health England guidance on the use of personal protective equipment which has been developed by expert clinicians and is being followed by the whole of the NHS .
“ There are no issues whatsoever with the cost of equipment .
It @ @ @ @ @ @ @ not an issue in keeping our staff protected .
What is important is that the supplies of PPE equipment across the NHS are used responsibly so there is enough to go round.
” It comes after 10,000 NHS staff penned a letter yesterday to Boris Johnson to demand that more equipment is delivered to hospitals .
The government has insisted on numerous occasions that the UK has enough PPE to deal with the Covid-19 outbreak , but that it is having problems in delivering it to hospitals .
Deputy chief medical officer Dr @ @ @ @ @ @ @ been “ distribution issues ” .
Read more : FTSE 100 tumbles after coronavirus forces banks to cut dividends Labour MP , and A and E doctor , Dr Rosena Allin-Khan told ITV today that the situation was dire .
She said : “ It is simply not acceptable that frontline NHS and care staff do not have the PPE that they need not only to keep themselves safe , but to stop the spread of infection to those they love when they come home – and most importantly between the patients that @ @ @ @ @ @ @ .
”

Southend Hospital will ‘restrict services’ without more protective equipment
It comes after 10,000 NHS staff penned a letter yesterday to Boris Johnson to demand that more equipment is delivered to hospitals.
Staff at Essex’s Southend Hospital have warned they may have to limit services if they do not receive more protective equipment to treat coronavirus patients.
Frontline staff at the hospital wrote to management to say that if they did not get an increase in personal protective equipment (PPE) by the end of the day they will introduce “restricted services”.
An estimated 25 per cent of frontline staff at the hospital are off sick with coronavirus symptoms.
They told hospital chief executive Clare Panniker that there was limited stock of PPE and what was available was being rationed, according to BBC Essex.
The letter also said staff were “petrified” of working in high-risk areas with Covid-19 patients.
In a statement, Southend Hospital said: “We are fully complying with the Public Health England guidance on the use of personal protective equipment which has been developed by expert clinicians and is being followed by the whole of the NHS.
“There are no issues whatsoever with the cost of equipment. It has been made clear that cost is not an issue in keeping our staff protected. What is important is that the supplies of PPE equipment across the NHS are used responsibly so there is enough to go round.”
It comes after 10,000 NHS staff penned a letter yesterday to Boris Johnson to demand that more equipment is delivered to hospitals.
The government has insisted on numerous occasions that the UK has enough PPE to deal with the Covid-19 outbreak, but that it is having problems in delivering it to hospitals.
Deputy chief medical officer Dr Jenny Harries said yesterday that there had been “distribution issues”.
Labour MP, and A and E doctor, Dr Rosena Allin-Khan told ITV today that the situation was dire.
She said: “It is simply not acceptable that frontline NHS and care staff do not have the PPE that they need not only to keep themselves safe, but to stop the spread of infection to those they love when they come home – and most importantly between the patients that they are trying to so desperately treat.”


cityam--2020-04-01--Coronavirus: M&S gives staff 15 per cent bonus

Marks and Spencer will give frontline staff across its stores and supply chain a 15 per cent bonus for their work during the coronavirus pandemic .
The company also said employees that “ have caring commitments or who are feeling more vulnerable ” are able to be furloughed voluntarily on full pay .
Read more : FTSE 100 tumbles after coronavirus forces banks to cut dividends The retailer announced this morning that it will rollout plastic face shields this week , which are easier to clean and need less regular adjustment than disposable clinical masks , in addition to plastic @ @ @ @ @ @ @ checkouts .
Sacha Berendji , M & S retail and operations director said : “ M & S fully supports the Government ’ s efforts to protect our NHS and save lives .
“ We are actively encouraging social distancing in our foodhalls , and have already introduced a number of measures to help colleagues stay healthy and enable customers to shop for the essentials they need with confidence – from floor markings to the introduction of sneeze guards at till points .
“ The latest measure is the introduction of reusable face @ @ @ @ @ @ @ our hard working teams this week.
” Meanwhile , concerns have been raised over the safety of staff at an M & S warehouse in Swindon , which is run by DHL , prompting a walk out of GMB union members .
City A.M. understands that some employees at the warehouse , which was responsible for sending goods to stores , will be put on furlough from next week due to a change in operations .
An M & S spokesperson said : “ M & S fully supports the Government ’ s @ @ @ @ @ @ @ lives .
Read more : Coronavirus : Banks must ‘ repay the favour ’ to taxpayer after 2008 crash “ Last week , we temporarily suspended our Clothing & Home store operations and closed outlet stores , whilst our food halls and online businesses remain open so we can continue to deliver for customers .
“ This does mean a change to our operations – we know these are difficult times and our logistics partners are doing all they can to support and update their brilliant teams , from the strict social distancing @ @ @ @ @ @ @ in place at their sites , to furloughing where necessary .
”

Coronavirus: M&S gives staff 15 per cent bonus
Marks and Spencer will give frontline staff across its stores and supply chain a 15 per cent bonus for their work during the coronavirus pandemic.
The company also said employees that “have caring commitments or who are feeling more vulnerable” are able to be furloughed voluntarily on full pay.
The retailer announced this morning that it will rollout plastic face shields this week, which are easier to clean and need less regular adjustment than disposable clinical masks, in addition to plastic “sneeze guards” being installed at checkouts.
Sacha Berendji, M&S retail and operations director said: “M&S fully supports the Government’s efforts to protect our NHS and save lives.
“We are actively encouraging social distancing in our foodhalls, and have already introduced a number of measures to help colleagues stay healthy and enable customers to shop for the essentials they need with confidence – from floor markings to the introduction of sneeze guards at till points.
“The latest measure is the introduction of reusable face shields, which will be distributed to our hard working teams this week.”
Meanwhile, concerns have been raised over the safety of staff at an M&S warehouse in Swindon, which is run by DHL, prompting a walk out of GMB union members.
City A.M. understands that some employees at the warehouse, which was responsible for sending goods to stores, will be put on furlough from next week due to a change in operations.
An M&S spokesperson said: “M&S fully supports the Government’s efforts to protect the NHS and save lives.
“Last week, we temporarily suspended our Clothing & Home store operations and closed outlet stores, whilst our food halls and online businesses remain open so we can continue to deliver for customers.
“This does mean a change to our operations – we know these are difficult times and our logistics partners are doing all they can to support and update their brilliant teams, from the strict social distancing and hygiene measures they’ve put in place at their sites, to furloughing where necessary.”


cityam--2020-04-01--FTSE 100 tumbles after coronavirus forces banks to cut dividends

The FTSE 100 closed down 3.4 per cent at 5,478 points today after the UK ’ s major banks were punished by investors after scrapping dividends last night .
The fall came after the index finished its worst quarter since 1987 yesterday .
Shedding more than 24 per cent of its value , the FTSE 100 was pummelled over fears over Covid-19 in the first three months of the year .
Investors were spooked this morning by US President Donald Trump ’ s government saying as many as 240,000 Americans could be killed by coronavirus .
The announcement appeared to @ @ @ @ @ @ @ least 30 more days .
Trump said the next two weeks will be “ very , very painful ” .
“ Global stocks got off to a soggy start in April as economic damage wrought by the coronavirus was laid bare , ” Neil Wilson , chief market analyst at Markets.com , said .
“ Investors felt there was not yet enough to show the virus was at or near its peak in Europe or the US .
Donald Trump reflected the mood as he warned of weeks of pain still ahead , @ @ @ @ @ @ @ approach thus far.
” Asian stocks fell overnight following Trump ’ s statement .
The sell-off signalled investors coming to terms with how long a global economic recovery might take .
Following the worst quarter for global equities since 2008 , Japan ’ s Nikkei 225 index tumbled 4.5 per cent and Hong Kong ’ s Hang Seng index dropped 2.5 per cent .
China ’ s Shanghai composite slipped 0.7 per cent .
The FTSE 100 was also dragged down by the UK ’ s biggest banks suspending their dividends .
Under @ @ @ @ @ @ @ PRA ) , Barclays , Royal Bank of Scotland , HSBC , Lloyds , Santander and Standard Chartered all suspended dividend payments .
The banks also pledged not to buy back shares .
Barclays chair Nigel Higgins said : “ These are difficult decisions , not least in terms of the immediate impact they will have on shareholders.
” Yet he said the move “ is right and prudent , for the many businesses and people that we support ” .
The FTSE 350 index of banks fell nearly 10 per cent today @ @ @ @ @ @ @ both fell 9.7 per cent while Lloyds closed more than 11 per cent down .
RBS ’ shares fell 6.5 per cent and Santander ’ s shares fell nearly four per cent .
Other top FTSE 100 fallers included Legal & General , which sank 11 per cent , and Standard Life Aberdeen , which fell seven per cent .
John Cronin , financial analyst at Irish investment bank Goodbody , said the bank dividend cut was tougher than expected .
“ It was heavier-handed than we thought on two fronts , ” @ @ @ @ @ @ @ .
“ We expected that both proposed dividends – and dividends for the next six months – would be suspended , not cancelled .
“ And we were surprised that the variable remuneration restrictions are wider in their application , i.e.
, they stretch beyond just the executive layer.
” He added that Goodbody hopes banks have simply delayed bonuses , rather than cancelled them .
“ On the latter , hopefully , it will be a postponement rather than a cancellation for 2020 to the extent that banks show they can get @ @ @ @ @ @ @ their capital positions intact – which we believe they will.
” Read more : Oil prices slump again as US ramps up production Richard Hunter , head of markets at Interactive Investor , said the suspension of bank dividends comes after their share prices already took the dividend payments into account in late March .
“ It begs the question of how or whether these share prices will be compensated for the previous ex-dividend markdowns , ” he said .
“ On ex-dividend day , share prices are reduced by the amount of @ @ @ @ @ @ @ whether this can be reversed.
” FTSE 100 investors were also shaken by the UK death toll rising its biggest daily amount so far yesterday , suggesting the worst is yet to come for Britain , The number of deaths from Covid-19 rose by 563 to 2,352 , according to government figures .
The pound fell 0.7 per cent against the dollar to $ 1.234 as investors sold assets in favour of holding cash .
Read more : UK death toll jumps as 13-year-old dies from coronavirus US stocks have also opened lower @ @ @ @ @ @ @ since 1987 in the first three months of the year .
The Dow Jones fell to its worst on record .
The Down Jones industrial average was down 3.1 per cent today and the S & P 500 was down 3.5 per cent .
“ New infected cases and deaths due to the coronavirus have hit new records yesterday , ” said Charalambos Pissouros , chief market analyst at JFD Group .
“ The switch back to risk-off at the turn of the quarter enhances our view not to trust a long-lasting recovery @ @ @ @ @ @ @ UK government is facing growing criticism for its handling of the coronavirus pandemic .
The government has been urged to ramp up testing but figures have been stuck for a week .
Just 8,240 people were tested yesterday , whereas Germany is testing around 70,000 per day .
Housing minister Robert Jenrick today told Sky News that Britain is aiming to increase the number of tests for coronavirus to 25,000 a day by the middle of the month .
Read more : 13-year-old boy from London dies as UK coronavirus death toll jumps @ @ @ @ @ @ @ 12,750 people every day , we were focusing the capacity that we had on people in critical conditions , which was on medical advice , ” he said .
The World Health Organization has said testing is crucial to curtailing the spread of the virus .
Investors have warned that the only real data point that can ease the sell-off is a drop off in cases of Covid-19 .

FTSE 100 tumbles after coronavirus forces banks to cut dividends
The FTSE 100 closed down 3.4 per cent at 5,478 points today after the UK’s major banks were punished by investors after scrapping dividends last night.
The fall came after the index finished its worst quarter since 1987 yesterday.
Shedding more than 24 per cent of its value, the FTSE 100 was pummelled over fears over Covid-19 in the first three months of the year.
Investors were spooked this morning by US President Donald Trump’s government saying as many as 240,000 Americans could be killed by coronavirus.
The announcement appeared to cement containment measures in place for at least 30 more days. Trump said the next two weeks will be “very, very painful”.
‘Soggy start’ for global stocks
“Global stocks got off to a soggy start in April as economic damage wrought by the coronavirus was laid bare,” Neil Wilson, chief market analyst at Markets.com, said.
“Investors felt there was not yet enough to show the virus was at or near its peak in Europe or the US. Donald Trump reflected the mood as he warned of weeks of pain still ahead, a stark change from his rather casual approach thus far.”
Asian stocks fell overnight following Trump’s statement. The sell-off signalled investors coming to terms with how long a global economic recovery might take.
Following the worst quarter for global equities since 2008, Japan’s Nikkei 225 index tumbled 4.5 per cent and Hong Kong’s Hang Seng index dropped 2.5 per cent. China’s Shanghai composite slipped 0.7 per cent.
Bank dividends suspension hits FTSE 100
The FTSE 100 was also dragged down by the UK’s biggest banks suspending their dividends.
Under pressure from the Prudential Regulation Authority (PRA), Barclays, Royal Bank of Scotland, HSBC, Lloyds, Santander and Standard Chartered all suspended dividend payments. The banks also pledged not to buy back shares.
Barclays chair Nigel Higgins said: “These are difficult decisions, not least in terms of the immediate impact they will have on shareholders.”
Yet he said the move “is right and prudent, for the many businesses and people that we support”.
The FTSE 350 index of banks fell nearly 10 per cent today. HSBC and Barclay’s shares both fell 9.7 per cent while Lloyds closed more than 11 per cent down.
RBS’ shares fell 6.5 per cent and Santander’s shares fell nearly four per cent.
Other top FTSE 100 fallers included Legal & General, which sank 11 per cent, and Standard Life Aberdeen, which fell seven per cent.
Dividend suspensions ‘heavy-handed’
John Cronin, financial analyst at Irish investment bank Goodbody, said the bank dividend cut was tougher than expected.
“It was heavier-handed than we thought on two fronts,” he said in a note to investors.
“We expected that both proposed dividends – and dividends for the next six months – would be suspended, not cancelled.
“And we were surprised that the variable remuneration restrictions are wider in their application, i.e., they stretch beyond just the executive layer.”
He added that Goodbody hopes banks have simply delayed bonuses, rather than cancelled them.
“On the latter, hopefully, it will be a postponement rather than a cancellation for 2020 to the extent that banks show they can get through the worst of this crisis with their capital positions intact – which we believe they will.”
Richard Hunter, head of markets at Interactive Investor, said the suspension of bank dividends comes after their share prices already took the dividend payments into account in late March.
“It begs the question of how or whether these share prices will be compensated for the previous ex-dividend markdowns,” he said. “On ex-dividend day, share prices are reduced by the amount of the upcoming dividend. It is unclear whether this can be reversed.”
FTSE 100 hit by rising UK death toll
FTSE 100 investors were also shaken by the UK death toll rising its biggest daily amount so far yesterday, suggesting the worst is yet to come for Britain, The number of deaths from Covid-19 rose by 563 to 2,352, according to government figures.
The pound fell 0.7 per cent against the dollar to $1.234 as investors sold assets in favour of holding cash.
US stocks have also opened lower today, having suffered their worst quarter since 1987 in the first three months of the year. The Dow Jones fell to its worst on record.
The Down Jones industrial average was down 3.1 per cent today and the S&P 500 was down 3.5 per cent.
“New infected cases and deaths due to the coronavirus have hit new records yesterday,” said Charalambos Pissouros, chief market analyst at JFD Group.
“The switch back to risk-off at the turn of the quarter enhances our view not to trust a long-lasting recovery in the broader investor morale.”
UK criticised over low testing numbers
The UK government is facing growing criticism for its handling of the coronavirus pandemic. The government has been urged to ramp up testing but figures have been stuck for a week. Just 8,240 people were tested yesterday, whereas Germany is testing around 70,000 per day.
Housing minister Robert Jenrick today told Sky News that Britain is aiming to increase the number of tests for coronavirus to 25,000 a day by the middle of the month.
“We now have capacity to test 12,750 people every day, we were focusing the capacity that we had on people in critical conditions, which was on medical advice,” he said.
The World Health Organization has said testing is crucial to curtailing the spread of the virus. Investors have warned that the only real data point that can ease the sell-off is a drop off in cases of Covid-19.


cityam--2020-04-01--Warner Media names Hulu co-founder Jason Kilar as new chief executive

Warner Media today said it has appointed veteran media boss Jason Kilar as its new chief executive .
Kilar , a former Amazon executive and founding chief executive of streaming service Hulu , will take over the top role from 1 May .
Read more : Disney Plus : UK launch to go ahead amid coronavirus outbreak He replaces John Stankey , who in September was promoted to chief operating officer of parent company AT & T .
“ Jason is a dynamic executive with the right skill set to lead Warner Media into the future , ” Stankey said @ @ @ @ @ @ @ in media and entertainment , direct-to-consumer video streaming and advertising is the perfect fit for Warner Media , and I am excited to have him lead the next chapter of Warner Media ’ s storied success.
” The appointment comes as Warner Media — the division of telecoms giant AT & T that oversees HBO , Warner Bros and CNN — gears up to launch a new streaming service .
HBO Max , which is set to launch in the US next month , will give subscribers access to the network ’ s @ @ @ @ @ @ @ Game of Thrones , Westworld and The Wire , as well as a library of films including the Lord of the Rings trilogy .
It has also secured a licensing deal to stream Friends , which is no longer available on Netflix in the US .
Kilar ’ s appointment highlights the media giant ’ s focus on streaming amid tough competition from new entrants such as Disney Plus and NBC Universal ’ s Peacock .
Read more : Huawei partners with Discover Film to embed streaming service on devices Kilar led Hulu @ @ @ @ @ @ @ and has also held board positions at Dreamworks Animation and Univision .
“ Stories well told have always mattered , and they matter even more in this challenging time for the world , ” Kilar said .
“ It will be a privilege to invent , create , and serve with so many talented people .
”

Warner Media names Hulu co-founder Jason Kilar as new chief executive
Warner Media today said it has appointed veteran media boss Jason Kilar as its new chief executive.
Kilar, a former Amazon executive and founding chief executive of streaming service Hulu, will take over the top role from 1 May.
He replaces John Stankey, who in September was promoted to chief operating officer of parent company AT&T.
“Jason is a dynamic executive with the right skill set to lead Warner Media into the future,” Stankey said in a statement.
“His experience in media and entertainment, direct-to-consumer video streaming and advertising is the perfect fit for Warner Media, and I am excited to have him lead the next chapter of Warner Media’s storied success.”
The appointment comes as Warner Media — the division of telecoms giant AT&T that oversees HBO, Warner Bros and CNN — gears up to launch a new streaming service.
HBO Max, which is set to launch in the US next month, will give subscribers access to the network’s catalogue of TV shows, such as Game of Thrones, Westworld and The Wire, as well as a library of films including the Lord of the Rings trilogy.
It has also secured a licensing deal to stream Friends, which is no longer available on Netflix in the US.
Kilar’s appointment highlights the media giant’s focus on streaming amid tough competition from new entrants such as Disney Plus and NBC Universal’s Peacock.
Kilar led Hulu from its inception in 2007 until 2013 and has also held board positions at Dreamworks Animation and Univision.
“Stories well told have always mattered, and they matter even more in this challenging time for the world,” Kilar said. “It will be a privilege to invent, create, and serve with so many talented people.”