cityam--2020-07-23--Government announces £100m funding for new coronavirus vaccine centre

The government has announced it will invest £100m into a new state-of-the-art centre to scale up a potential coronavirus vaccine currently being developed by the University of Oxford , amid mounting fears of a second wave of the virus in the winter .
The Department for Business , Energy and Industrial Strategy ( Beis ) today announced it will plug an extra £100m into the UK ’ s vaccine efforts by funding a new Cell and Gene Therapy Catapult Manufacturing Innovation Centre in Essex .
The centre , due to open in December 2021 , will have the capacity to @ @ @ @ @ @ @ vaccine each month , as the UK pushes ahead in the global race for a Covid-19 vaccine .
Beis said the initiative will upgrade an existing facility to create a fully-licensed manufacturing centre , in a bid to increase the UK ’ s ability to respond to diseases like coronavirus and to prepare for potential future pandemics .
Government officials added that the new centre will help create new , high-skilled jobs to fuel the UK ’ s economic recovery , as Britain faces its worst recession on record .
Employment in the @ @ @ @ @ @ @ to reach over 6,000 jobs by 2024 , with over 3,000 in manufacturing and bioprocessing .
The new centre will complement the Vaccines Manufacturing and Innovation Centre ( VMIC ) currently under construction in Oxfordshire .
Once complete next year , the facility will have the capacity to produce enough vaccine doses to serve the entire UK population at scale , Beis said today .
The government also announced an additional £4.7m for new training facilities and an online learning platform to boost vaccine and cell and gene therapy skills .
Business secretary @ @ @ @ @ @ @ taking all necessary steps to ensure we can vaccinate the public as soon as a successful Covid-19 vaccine becomes available .
“ This new Cell and Gene Therapy Catapult Manufacturing Innovation Centre , alongside crucial investment in skills , will support our efforts to rapidly produce millions of doses of a coronavirus vaccine while ensuring the UK can respond quickly to potential future pandemics.
” Kate Bingham , chair of the Vaccines Taskforce said : “ Today ’ s announcement is another important milestone for us .
The work of the Vaccines Taskforce @ @ @ @ @ @ @ Covid-19 through vaccination as quickly as possible .
“ In order to vaccinate our high-risk populations at the earliest opportunity , the government has agreed to proactively manufacture vaccines now , so we have millions of doses of vaccine ready if they are shown to be safe and effective.
” She added : “ The acquisition of this state-of-the-art manufacturing centre will not only help us with this , but also ensures we are well-placed as a country to be able to cope with any pandemics or health crises in the future.
” @ @ @ @ @ @ @ a potential coronavirus vaccine being developed by the University of Oxford and pharmaceuticals giant Astrazeneca was deemed safe and found to induce a “ strong response ” from the immune system , in a major global breakthrough .
An initial trial of 1,077 people showed that the injection produced antibodies and white blood cells in patients , a new study published in the Lancet medical journal found .
However , deputy chief medical officer Professor Jonathan Van-Tam said the rollout of a potential coronavirus vaccine will likely be limited to the most at-risk @ @ @ @ @ @ @ elderly .
“ As we know with this disease , the likelihood of death changes markedly with age .
And so the risk benefit for a vaccine is likely to be very different by age.
” He added : “ We ’ ll deal with a very large amount of the population who have the mortality loaded against them at the moment.
” However Whitty threw cold water on hopes that a vaccine might be ready by winter , telling a Commons committee on Tuesday : “ No one should be under any @ @ @ @ @ @ @ a vaccine by Christmas that is actually highly effective is in my view very low .
”

Government announces £100m funding for new coronavirus vaccine centre
The government has announced it will invest £100m into a new state-of-the-art centre to scale up a potential coronavirus vaccine currently being developed by the University of Oxford, amid mounting fears of a second wave of the virus in the winter.
The Department for Business, Energy and Industrial Strategy (Beis) today announced it will plug an extra £100m into the UK’s vaccine efforts by funding a new Cell and Gene Therapy Catapult Manufacturing Innovation Centre in Essex.
The centre, due to open in December 2021, will have the capacity to produce millions of doses of a potential vaccine each month, as the UK pushes ahead in the global race for a Covid-19 vaccine.
Beis said the initiative will upgrade an existing facility to create a fully-licensed manufacturing centre, in a bid to increase the UK’s ability to respond to diseases like coronavirus and to prepare for potential future pandemics.
Government officials added that the new centre will help create new, high-skilled jobs to fuel the UK’s economic recovery, as Britain faces its worst recession on record.
Employment in the cell and gene therapy sector is predicted to reach over 6,000 jobs by 2024, with over 3,000 in manufacturing and bioprocessing.
The new centre will complement the Vaccines Manufacturing and Innovation Centre (VMIC) currently under construction in Oxfordshire.
Once complete next year, the facility will have the capacity to produce enough vaccine doses to serve the entire UK population at scale, Beis said today.
The government also announced an additional £4.7m for new training facilities and an online learning platform to boost vaccine and cell and gene therapy skills.
Business secretary Alok Sharma said: “We are taking all necessary steps to ensure we can vaccinate the public as soon as a successful Covid-19 vaccine becomes available.
“This new Cell and Gene Therapy Catapult Manufacturing Innovation Centre, alongside crucial investment in skills, will support our efforts to rapidly produce millions of doses of a coronavirus vaccine while ensuring the UK can respond quickly to potential future pandemics.”
Kate Bingham, chair of the Vaccines Taskforce said: “Today’s announcement is another important milestone for us. The work of the Vaccines Taskforce is focused on protecting the UK against Covid-19 through vaccination as quickly as possible.
“In order to vaccinate our high-risk populations at the earliest opportunity, the government has agreed to proactively manufacture vaccines now, so we have millions of doses of vaccine ready if they are shown to be safe and effective.”
She added: “The acquisition of this state-of-the-art manufacturing centre will not only help us with this, but also ensures we are well-placed as a country to be able to cope with any pandemics or health crises in the future.”
Hopes were lifted earlier this week as a potential coronavirus vaccine being developed by the University of Oxford and pharmaceuticals giant Astrazeneca was deemed safe and found to induce a “strong response” from the immune system, in a major global breakthrough.
An initial trial of 1,077 people showed that the injection produced antibodies and white blood cells in patients, a new study published in the Lancet medical journal found.
However, deputy chief medical officer Professor Jonathan Van-Tam said the rollout of a potential coronavirus vaccine will likely be limited to the most at-risk members of the public such as the elderly.
“As we know with this disease, the likelihood of death changes markedly with age. And so the risk benefit for a vaccine is likely to be very different by age.”
He added: “We’ll deal with a very large amount of the population who have the mortality loaded against them at the moment.”
However Whitty threw cold water on hopes that a vaccine might be ready by winter, telling a Commons committee on Tuesday: “No one should be under any illusions — the chances of us getting a vaccine by Christmas that is actually highly effective is in my view very low.”


cityam--2020-07-23--Brexit: UK-EU free trade deal 'now unlikely' after last round of talks

It is “ now unlikely ” the UK and EU will agree to a free trade deal before the 31 December deadline , according to the EU ’ s chief negotiator Michel Barnier .
UK chief negotiator David Frost also said that a no trade deal exit from the EU ’ s single market and customs union was a real possibility now , but that an agreement could still be reached by September .
Read more : Brexit : No progress expected in latest round of UK-EU trade talks The two sides met this week for formal talks in London @ @ @ @ @ @ @ number of virtual negotiating rounds .
Frost said the two largest areas of contention were still EU fishing access to UK waters and business competition regulations known as the level playing field .
Barnier said there had been “ no progress ” on these two areas and that a deal was still “ far away ” from being struck as he hit out at the UK during a press conference .
“ The UK did not show a willingness to break the deadlock , ” he said .
“ The UK has not @ @ @ @ @ @ @ find solutions , respecting the EU fundamental principles and interests.
” Frost took a more diplomatic tone , saying that “ considerable gaps remain in the most difficult areas ” and that “ our principles in these areas are not simple negotiating positions but expressions of the reality that we will be a fully independent country ” .
“ That is why we continue to look for a deal with , at its core , a free trade agreement similar to the one the EU already has with Canada – that is , @ @ @ @ @ @ @ ” he said .
“ We remain unclear why this is so difficult for the EU , but we will continue to negotiate with this in mind .
”

Brexit: UK-EU free trade deal ‘now unlikely’ after last round of talks
It is “now unlikely” the UK and EU will agree to a free trade deal before the 31 December deadline, according to the EU’s chief negotiator Michel Barnier.
UK chief negotiator David Frost also said a no trade deal exit from the EU’s single market and customs union was a real possibility now, but that an agreement could still be reached by September.
The two sides met this week for formal talks in London for the first time, after a number of virtual negotiating rounds over the past few months.
The deadline for a deal is 31 December, but both sides have said the deal needs to be agreed months before that to get it ratified in time.
Frost said today that the two largest areas of contention were still EU fishing access to UK waters and business competition regulations known as the level playing field.
Barnier said there had been “no progress” on these two areas and that a deal was still “far away” from being struck as he hit out at the UK during a press conference today.
“The UK did not show a willingness to break the deadlock,” he said.
“The UK has not shown the same level of engagement to find solutions, respecting the EU fundamental principles and interests.
“By its current refusal to commit to the condition of fair and open competition, and a fair and balanced agreement on fisheries, the UK makes a trade agreement at this point unlikely.”
Frost took a more diplomatic tone, saying that “considerable gaps remain in the most difficult areas” and that “our principles in these areas are not simple negotiating positions but expressions of the reality that we will be a fully independent country”.
“That is why we continue to look for a deal with, at its core, a free trade agreement similar to the one the EU already has with Canada – that is, an agreement based on existing precedents,” he said.
“We remain unclear why this is so difficult for the EU, but we will continue to negotiate with this in mind.”
UK negotiators are asking for fishing rights to British waters to be decided on “zonal attachment”, reflecting where the fish actually live.
Under the previous arrangement, EU countries had extensive access to UK fishing waters under the Common Fisheries Policy.
Barnier said the UK’s position on fisheries would lead to a “near total exclusion of EU fishing access to UK waters”.
Brussels is also asking the UK to match EU regulations on a number of areas such as labour laws, environmental laws and state aid provision to ensure a level playing field for businesses on both sides of the channel.
Today, Barnier said: “A less ambitious agreement on goods and services will not lead the EU to drop its demands for a robust level playing field.”
The UK has made it clear that it will not be locked in to regulations set by the EU, while Barnier today said the level playing field was non-negotiable.
A UK official said the largest point of dispute was that Brussels was trying to make the UK commit to future standards.
“Their wish is not see us regress from standards, which is common ground, but future proof and bake in future standards as a baseline,” they said.
“That would constrain our legislative freedom and we can’t have that.”


cityam--2020-07-23--Twitter suffers advertising revenue slump amid pandemic and US protests

Twitter suffered a 23 per cent slump in advertising revenue in the second quarter due to the coronavirus pandemic and civil unrest in the US .
The social media giant said today that advertising revenue was $ 562m , down 23 per cent year-on-year .
The company said it had seen a “ gradual , moderate recovery ” compared to March , however brands slowed or paused spend due to protests in the US in late May and June .
Chief executive Jack Dorsey also addressed security issues faced by Twitter last week , when hackers infiltrated the accounts of @ @ @ @ @ @ @ executive Elon Musk and Amazon founder Jeff Bezos to promote a Bitcoin scam .
Dorsey said the firm has taken “ additional steps to improve resiliency against targeted social engineering attempts ” .
This morning it was revealed that 36 of the hacked users have had their private messages infiltrated following the initial attack Total second quarter revenue was $ 683m , a decrease of 19 per cent compared to last year .
However the platform ’ s monetizable daily active users reached 168m , a 34 per cent increase on the second @ @ @ @ @ @ @ the pandemic , brands have found innovative ways to join the conversation on Twitter to connect with their customers , ” Twitter finance chief Ned Segal said .
Read more : Twitter to suspend 150,000 accounts in QAnon conspiracy theory crackdown “ We have completed our ad server rebuild and are making progress accelerating our performance ads roadmap .
“ With a larger audience and progress in ads , we are even better positioned to deliver for advertisers when the live events and product launches that bring many people and advertisers to Twitter @ @ @ @ @ @

Twitter suffers advertising revenue slump amid pandemic and US protests
Twitter said it hoped to have as many as 100,000 participants in the trial
Twitter suffered a 23 per cent slump in advertising revenue in the second quarter due to the coronavirus pandemic and civil unrest in the US.
The social media giant said today that advertising revenue was $562m, down 23 per cent year-on-year.
The company said it had seen a “gradual, moderate recovery” compared to March, however brands slowed or paused spend due to protests in the US in late May and June.
Chief executive Jack Dorsey also addressed security issues faced by Twitter last week, when hackers infiltrated the accounts of high profile users such as Tesla chief executive Elon Musk and Amazon founder Jeff Bezos to promote a Bitcoin scam.
Dorsey said the firm has taken “additional steps to improve resiliency against targeted social engineering attempts”. This morning it was revealed that 36 of the hacked users have had their private messages infiltrated following the initial attack
Total second quarter revenue was $683m, a decrease of 19 per cent compared to last year.
However the platform’s monetizable daily active users reached 168m, a 34 per cent increase on the second quarter of last year.
“Despite the pandemic, brands have found innovative ways to join the conversation on Twitter to connect with their customers,” Twitter finance chief Ned Segal said.
“We have completed our ad server rebuild and are making progress accelerating our performance ads roadmap.
“With a larger audience and progress in ads, we are even better positioned to deliver for advertisers when the live events and product launches that bring many people and advertisers to Twitter return to our lives.”


cityam--2020-07-23--Fear of coronavirus likely to ‘drag’ on UK economy, says BoE official

People ’ s fear of catching coronavirus is likely to stop them from going out and spending normally and “ @ @ @ @ @ ” a Bank of England policymaker has said .
Jonathan Haskel , a member of @ @ @ @ @ policy committee , said the “ path of recovery ” depends on public and private @ @ @ @ @ and trace and adequate safety measures in shops .
He added that the UK economy @ @ @ @ @ on the level of unemployment .

Fear of coronavirus likely to ‘drag’ on UK economy, says BoE official
People’s fear of catching coronavirus is likely to stop them from going out to spend normally and “drag on the economy,” a Bank of England policymaker has said.
Jonathan Haskel, a member of the Bank’s monetary policy committee (MPC), said the “path of recovery” therefore depends on public and private health measures bringing coronavirus under control.
He added that the UK economy’s recovery also “depends on the fear, or realisation, of unemployment”. He spoke at an online event organised by Imperial College London, where he is a professor.
A BoE official since 2018, Haskel has consistently been one of the most “dovish” MPC members, voting for loose monetary policy such as lower interest rates and more quantitative easing.
“In recent months I have voted for more accommodative monetary policy,” he said. “I am concerned about the economy ‘getting stuck’ and recovering only slowly and undershooting the inflation target.”
Last week, Haskel’s MPC colleague Silvana Tenreyro also flagged the dangers of social distancing and unemployment. She said the UK economy would likely see an “incomplete” V-shaped recovery.
Weak demand could weigh on UK economy
Britain has gradually eased the coronavirus lockdown over the last two months. Shops, restaurants and cafes were allowed to open at the start of this month. Gyms and pools will soon reopen too.
But the number of people venturing out to spend their money is still well below normal, according to footfall data.
The number of Brits heading to retail destinations rose 4.5 per cent last week, according to data provider Springboard. That was well below the 10.6 per cent jump recorded the previous week when pubs reopened.
Haskel said: “When the economy re-opens, customers might still fear infection and therefore stay away from consumption that has a social element to it.”
“It seems likely that such demand weakness will therefore drag on the economy and hold back the recovery.”
He said the UK economy’s recovery therefore depends largely on government and private measures to stop the virus. He cited a coronavirus track and trace scheme and protective screens in shops as two examples.
Haskel also said that people being “worried about unemployment” would “hold back the economy”.
Economists worry that there will be a wave of unemployment when the government job retention scheme is wound down in the autumn.


cityam--2020-07-23--US senators warn that UK digital sales tax could stop free trade deal

Senior members of the US Senate ’ s finance committee have warned that the new UK digital sales tax could be a major barrier to a future free trade deal .
Republican Chuck Grassley and Democrat Ron Wyden said the new levy “ unnecessarily complicates the path forward for a US-UK trade deal ” , while also calling for the UK to “ reconsider this punitive action against its ally ” .
Read more : Fresh calls for guarantees on digital taxation in future UK-US trade deal The committee oversees trade deals and must tick off all US free trade @ @ @ @ @ @ @ the latest comments could spell trouble for negotiations .
The UK government implemented a 2 per cent tax on multinational companies that derive revenues from the “ provision of a social media service , a search engine or an online marketplace to UK users ” from April .
Before the Open newsletter : Start your day with the City View podcast and key market data This could lead to an increase in taxation for large US technology companies , particularly Silicon Valley ’ s social media firms , during a global economic downturn @ @ @ @ @ @ @ as a bargaining chip in the UK-US trade deal , which already has a number of stumbling blocks .
The UK government has said over the past year about how it could close a trade deal with Donald Trump in quick time , however it is not expected to be completed this year .
Completing a US trade deal is a key part of Boris Johnson ’ s vision for a “ global Britain ” , after the UK leaves the EU single market and customs union on 31 December .
Read more @ @ @ @ @ @ @ ease travel restrictions and end tariff dispute One of the key areas in negotiations is US agricultural goods , which is one of the country ’ s most important export sectors .
Concerns have been raised that the UK government will lower its food standard requirements to strike a trade deal that allows US agriculture exports into Britain , a claim that has been denied .

US senators warn that UK digital sales tax could stop free trade deal
US and Union Flags line the Mall leading to Buckingham Palace in central London on June 3, 2019
Senior members of the US Senate’s finance committee have warned that the new UK digital sales tax could be a major barrier to a future free trade deal.
Republican Chuck Grassley and Democrat Ron Wyden said the new levy “unnecessarily complicates the path forward for a US-UK trade deal”, while also calling for the UK to “reconsider this punitive action against its ally”.
The committee oversees trade deals and must tick off all US free trade deals before they are ratified, meaning the latest comments could spell trouble for negotiations.
The UK government implemented a 2 per cent tax on multinational companies that derive revenues from the “provision of a social media service, a search engine or an online marketplace to UK users” from April.
Before the Open newsletter: Start your day with the City View podcast and key market data
This could lead to an increase in taxation for large US technology companies, particularly Silicon Valley’s social media firms, during a global economic downturn.
The US may use this tax as a bargaining chip in the UK-US trade deal, which already has a number of stumbling blocks.
The UK government has said over the past year about how it could close a trade deal with Donald Trump in quick time, however it is not expected to be completed this year.
Completing a US trade deal is a key part of Boris Johnson’s vision for a “global Britain”, after the UK leaves the EU single market and customs union on 31 December.
One of the key areas in negotiations is US agricultural goods, which is one of the country’s most important export sectors.
Concerns have been raised that the UK government will lower its food standard requirements to strike a trade deal that allows US agriculture exports into Britain, a claim that has been denied.


cityam--2020-07-23--People more likely to contract coronavirus at home, new study finds

People are more likely to contract coronavirus from members of their own households than from contacts outside the home , a new study has found , as the global race for a vaccine ramps up ahead of a potential second wave in the winter .
In a study of around 65,000 people published by the US Centers for Disease Control and Prevention , scientists found that less than two per cent of non-household contacts of people infected with Covid-19 caught the virus from them , compared to nearly 12 per cent of household contacts .
Read more : Oxford vaccine @ @ @ @ @ @ @ the year The study looked in detail at 5,706 “ index patients ” who had tested positive for the coronavirus and more than 59,000 people who came into contact with them between January and March .
By age group , the infection rate within households was shown to be higher when the first confirmed cases were teenagers or people in their 60s and 70s , suggesting people at either end of the generational chart are more likely to be vectors of the disease .
“ This is probably because these age groups are @ @ @ @ @ @ @ with family members as the group is in more need of protection or support , ” said Jeong Eun-kyeong , director of the Korea Centers for Disease Control and Prevention ( KCDC ) and one of the authors of the study .
Children infected with coronavirus were more likely to be asymptomatic carriers of the disease than adults , the research found , which made it harder to identify index cases within that group .
It comes as pressure continues to mount in the global race for a vaccine as top scientists voice @ @ @ @ @ @ @ in the winter .
Speaking to the Commons Health and Social Care Select Committee on Tuesday , chief medical officer Professor Chris Whitty said a potential resurgence of the virus during the winter months was a “ really serious concern , ” as the UK still lacks the testing capacity to effectively enforce local lockdowns at the speed required .
Hopes were lifted earlier this week as a potential coronavirus vaccine being developed by the University of Oxford and pharmaceuticals giant Astrazeneca was deemed safe and found to induce a “ strong response @ @ @ @ @ @ @ a major global breakthrough .
An initial trial of 1,077 people showed that the injection produced antibodies and white blood cells in patients , a new study published in the Lancet medical journal found .
However , deputy chief medical officer Professor Jonathan Van-Tam said the rollout of a potential coronavirus vaccine will likely be limited to the most at-risk members of the public such as the elderly .
“ As we know with this disease , the likelihood of death changes markedly with age .
And so the risk benefit for a @ @ @ @ @ @ @ by age.
” Read more : London coronavirus cases : How many infections are in your London borough ?
He added : “ We ’ ll deal with a very large amount of the population who have the mortality loaded against them at the moment.
” However Whitty threw cold water on hopes that a vaccine might be ready by winter , telling the Commons committee on Tuesday : “ No one should be under any illusions — the chances of us getting a vaccine by Christmas that is actually highly effective is @ @ @ @ @ @ @ the Open : Get the jump on the markets with our early morning newsletter

People more likely to contract coronavirus at home, new study finds
People are more likely to contract coronavirus from members of their own households than from contacts outside the home, a new study has found, as the global race for a vaccine ramps up ahead of a potential second wave in the winter.
In a study of around 65,000 people published by the US Centers for Disease Control and Prevention, scientists found that less than two per cent of non-household contacts of people infected with Covid-19 caught the virus from them, compared to nearly 12 per cent of household contacts.
The study looked in detail at 5,706 “index patients” who had tested positive for the coronavirus and more than 59,000 people who came into contact with them between January and March.
By age group, the infection rate within households was shown to be higher when the first confirmed cases were teenagers or people in their 60s and 70s, suggesting people at either end of the generational chart are more likely to be vectors of the disease.
“This is probably because these age groups are more likely to be in close contact with family members as the group is in more need of protection or support,” said Jeong Eun-kyeong, director of the Korea Centers for Disease Control and Prevention (KCDC) and one of the authors of the study.
Children infected with coronavirus were more likely to be asymptomatic carriers of the disease than adults, the research found, which made it harder to identify index cases within that group.
It comes as pressure continues to mount in the global race for a vaccine as top scientists voice fears of a second wave of coronavirus in the winter.
Speaking to the Commons Health and Social Care Select Committee on Tuesday, chief medical officer Professor Chris Whitty said a potential resurgence of the virus during the winter months was a “really serious concern,” as the UK still lacks the testing capacity to effectively enforce local lockdowns at the speed required.
Hopes were lifted earlier this week as a potential coronavirus vaccine being developed by the University of Oxford and pharmaceuticals giant Astrazeneca was deemed safe and found to induce a “strong response” from the immune system, in a major global breakthrough.
An initial trial of 1,077 people showed that the injection produced antibodies and white blood cells in patients, a new study published in the Lancet medical journal found.
However, deputy chief medical officer Professor Jonathan Van-Tam said the rollout of a potential coronavirus vaccine will likely be limited to the most at-risk members of the public such as the elderly.
“As we know with this disease, the likelihood of death changes markedly with age. And so the risk benefit for a vaccine is likely to be very different by age.”
He added: “We’ll deal with a very large amount of the population who have the mortality loaded against them at the moment.”
However Whitty threw cold water on hopes that a vaccine might be ready by winter, telling the Commons committee on Tuesday: “No one should be under any illusions — the chances of us getting a vaccine by Christmas that is actually highly effective is in my view very low.”
Before the Open: Get the jump on the markets with our early morning newsletter


cityam--2020-07-23--Record UK manufacturing slump continues but optimism grows

The decline in UK manufacturing orders eased somewhat in July but the sector remained mired in its deepest downturn on record , according to a closely watched survey .
The CBI industrial trends survey ’ s gauge of total orders rose to minus 46 in July from minus 58 in June .
That was its highest reading since March but lower than analysts were expecting .
And it was also still well below the long-term average .
Read more : UK economy grows by much less than expected after April crash UK manufacturing showed little sign of escaping from its @ @ @ @ @ @ @ its sharpest pace rate since at least 1975 in the three months to July .
The CBI ’ s gauge of output fell to minus 59 in the three months to July from minus 57 in the quarter to June .
Rain Newton-Smith , CBI chief economist , said : “ Manufacturers continue to face extreme hardship due to the Covid-19 crisis.
” “ There are tentative signs of gradual recovery on the horizon , with firms expecting output and orders to begin to pick up in the next three months .
But @ @ @ @ @ @ @ the slump in output , firms were upbeat about the chances of increasing production over the next three months .
The survey ’ s measure of output expectations hit its highest since January 2018 .
It was the third month in a row when a new record fall was set in a sign of the unprecedented toll coronavirus is taking on the UK economy .
The government has gradually lifted the coronavirus lockdown over the last two months .
Prime Minister Boris Johnson encouraged factories to go back to work in mid-May and @ @ @ @ @ @ @ all now allowed to open .
However “ firms remain very concerned about their financial situation and their capacity to invest , ” said Newton-Smith .
“ It is crucial for the government to consider how it can continue to support viable firms through this crisis.
” Read more : Moody ’ s : UK to suffer worst crash of any big economy Over the last three months the motor vehicles and transport , food , drink and tobacco , and mechanical engineering sub-sectors have slashed output at the fastest rate .
Employee @ @ @ @ @ @ @ 2009 in the three months to June .
However , the CBI industrial trends survey said it was unclear whether companies were including furloughed employees in this count .

Record UK manufacturing slump continues but optimism grows
The decline in UK manufacturing orders eased somewhat in July but the sector remained mired in its deepest downturn on record, according to a closely watched survey.
The CBI industrial trends survey’s gauge of total orders rose to minus 46 in July from minus 58 in June. That was its highest reading since March but lower than analysts were expecting. And it was also still well below the long-term average.
UK manufacturing showed little sign of escaping from its current slump, with output falling at its sharpest pace rate since at least 1975 in the three months to July.
The CBI’s gauge of output fell to minus 59 in the three months to July from minus 57 in the quarter to June.
Rain Newton-Smith, CBI chief economist, said: “Manufacturers continue to face extreme hardship due to the Covid-19 crisis.”
“There are tentative signs of gradual recovery on the horizon, with firms expecting output and orders to begin to pick up in the next three months. But demand still remains deeply depressed.”
UK manufacturing firms become more optimistic
Despite the slump in output, firms were upbeat about the chances of increasing production over the next three months. The survey’s measure of output expectations hit its highest since January 2018.
It was the third month in a row when a new record fall was set in a sign of the unprecedented toll coronavirus is taking on the UK economy.
The government has gradually lifted the coronavirus lockdown over the last two months. Prime Minister Boris Johnson encouraged factories to go back to work in mid-May and shops, restaurants, and pubs are all now allowed to open.
However “firms remain very concerned about their financial situation and their capacity to invest,” said Newton-Smith.
“It is crucial for the government to consider how it can continue to support viable firms through this crisis.”
Over the last three months the motor vehicles and transport, food, drink and tobacco, and mechanical engineering sub-sectors have slashed output at the fastest rate.
Employee numbers fell at their fastest pace since 2009 in the three months to June. However, the CBI industrial trends survey said it was unclear whether companies were including furloughed employees in this count.


cityam--2020-07-23--A four-step approach to optimise your innovation funding

The landscape of innovation grants , funding and tax credits can be overwhelming .
We explore how companies can make the most of the funding options available to them .
With a host of new innovation funds being made available across a number of sectors and HMRC committing to accelerating payments of research and development ( R & D ) tax credits , all the building blocks of funding innovation success are available .
However , navigating through the choice on offer needs careful consideration .
Are you adopting a holistic approach to your innovation funding ?
There are many @ @ @ @ @ @ @ and internationally , for retrospective and prospective projects and for a wide range of activities .
The key is to take a holistic approach to ensure your innovation is optimally funded and supported .
Passive management of your funding options can result in missed funding opportunities .
One situation we see all too often is great projects which have been undertaken without prior consideration of available funding .
This can have an adverse impact on the return on investment of projects , or worse , discourage a company from continuing its innovation journey @ @ @ @ @ @ @ to ensure your innovation receives optimal funding ?
It all starts with good planning as well as integrating and researching funding options into the project outline .
This affords the opportunity to work with government and local authorities to understand what prospective funding is available , and what objectives the project would need to achieve for the best chance at funding success .
In conjunction with this , it is advisable to understand what retrospective funding is available , such as R & D tax credits and how this interacts with any prospective @ @ @ @ @ @ @ , you can then optimise your overall funding position and apply for the most lucrative and relevant funding options available to you .
What other factors do you need to consider ?
Whilst government funding comes without the hefty price tag of equity , it is not effortless .
Prospective funding tends to be based on merit and eligibility , so whilst a project may be eligible for funding , it may not be the most worthy and highest scoring applicant and therefore may be unsuccessful in securing funds .
The required effort @ @ @ @ @ @ @ without time commitment and risk .
The ability to provide evidence and contemporaneous recordkeeping of activities is also important to ensure compliance and expedient payment of funding .
How do you practically achieve this ?
The starting point in getting the approach to innovation funding right is to embed its importance in the internal culture of the business .
The most successful businesses we see in this sphere celebrate the importance of government funding and what it helps them to achieve .
This approach helps ensure that government funding considerations are intrinsically part @ @ @ @ @ @ @ instils an approach and attitude towards funding resulting in optimised claims , well managed cashflows , due to timely milestone reporting and resources to spare for the next innovative endeavour .

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A four-step approach to optimise your innovation funding
In a world disrupted by a pandemic, innovation is still very much blooming, but where budgets are stretched, making the most of the funding options available has become more key than ever.
The landscape of innovation grants, funding and tax credits can be overwhelming. We explore how companies can make the most of the funding options available to them.
With a host of new innovation funds being made available across a number of sectors and HMRC committing to accelerating payments of research and development (R&D) tax credits, all the building blocks of funding innovation success are available. However, navigating through the choice on offer needs careful consideration.
Are you adopting a holistic approach to your innovation funding?
There are many options for government funding available, domestically and internationally, for retrospective and prospective projects and for a wide range of activities. The key is to take a holistic approach to ensure your innovation is optimally funded and supported. Passive management of your funding options can result in missed funding opportunities. One situation we see all too often is great projects which have been undertaken without prior consideration of available funding. This can have an adverse impact on the return on investment of projects, or worse, discourage a company from continuing its innovation journey.
What steps need to be taken to ensure your innovation receives optimal funding?
It all starts with good planning as well as integrating and researching funding options into the project outline. This affords the opportunity to work with government and local authorities to understand what prospective funding is available, and what objectives the project would need to achieve for the best chance at funding success. In conjunction with this, it is advisable to understand what retrospective funding is available, such as R&D tax credits and how this interacts with any prospective funding. Once this has been mapped, you can then optimise your overall funding position and apply for the most lucrative and relevant funding options available to you.
What other factors do you need to consider?
Whilst government funding comes without the hefty price tag of equity, it is not effortless. Prospective funding tends to be based on merit and eligibility, so whilst a project may be eligible for funding, it may not be the most worthy and highest scoring applicant and therefore may be unsuccessful in securing funds. The required effort and subsequent milestone reporting is not therefore without time commitment and risk. The ability to provide evidence and contemporaneous recordkeeping of activities is also important to ensure compliance and expedient payment of funding.
How do you practically achieve this?
The starting point in getting the approach to innovation funding right is to embed its importance in the internal culture of the business. The most successful businesses we see in this sphere celebrate the importance of government funding and what it helps them to achieve. This approach helps ensure that government funding considerations are intrinsically part of project planning and management. This instils an approach and attitude towards funding resulting in optimised claims, well managed cashflows, due to timely milestone reporting and resources to spare for the next innovative endeavour.


cityam--2020-07-23--Green King's Cross development receives £69m boost

A new sustainable development in the heart of King ’ s Cross has received a boost with a £69m green loan facility from HSBC and Natwest .
Property developer Argent secured the loan to complete the Cadence project , which will offer 163 flats , including 60 “ intermediate affordable ” rent apartments .
The deal follows a similar £400m green loan for King ’ s Cross in 2018 which was the first of its kind in the UK used to deliver a commercial development .
HSBC UK ’ s head of corporate real estate David Stephens said : “ @ @ @ @ @ @ @ s Cross with its second green loan facility .
“ King ’ s Cross has an established and proven track record in developing sustainable buildings and this is core to the ongoing strategy for the estate .
“ This funding demonstrates the continued demand for green financing and the focus on sustainability across the real estate sector.
” All the flats will have low carbon heating , hot water and cooling from the King ’ s Cross District Energy Networks , to reduce carbon emissions by 28 per cent when compared to a @ @ @ @ @ @ @ Lightbound said : “ From the outset , sustainability has been the foundation of King ’ s Cross .
Read more : Derwent London to sell two Soho properties to Travelex founder “ We were proud to receive the first Green Loan for a commercial development in 2018 , and since then we have continued to deliver on our sustainable and environmental commitments .
“ With our second Green Loan for Cadence we are delighted to be building on our long-term relationship with HSBC UK and Natwest .
”

Green King’s Cross development receives £69m boost
A new sustainable development in the heart of King’s Cross has received a boost with a £69m green loan facility from HSBC and Natwest.
Property developer Argent secured the loan to complete the Cadence project, which will offer 163 flats, including 60 “intermediate affordable” rent apartments.
The deal follows a similar £400m green loan for King’s Cross in 2018 which was the first of its kind in the UK used to deliver a commercial development.
HSBC UK’s head of corporate real estate David Stephens said: “We are delighted to support King’s Cross with its second green loan facility.
“King’s Cross has an established and proven track record in developing sustainable buildings and this is core to the ongoing strategy for the estate.
“This funding demonstrates the continued demand for green financing and the focus on sustainability across the real estate sector.”
All the flats will have low carbon heating, hot water and cooling from the King’s Cross District Energy Networks, to reduce carbon emissions by 28 per cent when compared to a typical home.
Argent finance chief Michael Lightbound said: “From the outset, sustainability has been the foundation of King’s Cross.
“We were proud to receive the first Green Loan for a commercial development in 2018, and since then we have continued to deliver on our sustainable and environmental commitments.
“With our second Green Loan for Cadence we are delighted to be building on our long-term relationship with HSBC UK and Natwest.”


cityam--2020-07-23--Pub and restaurant sales jump in second week of trading

Pub , bar and restaurant sales started to improve in the second week after lockdown was lifted as more sites reopened , the latest research showed .
Hospitality businesses in England were allowed to reopen from 4 July as the coronavirus lockdown was eased , but sales jumped in the week beginning 13 July as more venues opened and more customers ventured out .
Read more : Reopened restaurants in London : A new regular round-up of the latest food news Total sales were up 40.6 per cent compared to the previous week , the latest research showed .
However @ @ @ @ @ @ @ on the previous year , although that performance was better than the first week of reopening when year-on-year sales were down 39.8 per cent .
Restaurants reported the biggest jump , with like-for-likes down 26.9 per cent compared to 40 per cent in the first week .
However CGA director of food and retail Karl Chessell said it is too early to suggest that the increased sales could save jobs and businesses .
Restaurant groups have generally taken a more cautious approach to their reopening strategies , with just 24 per cent of @ @ @ @ @ @ @ cent in the first week .
“ With so many sites still to open it is still incredibly tough for operators and there are likely to be continued challenges ahead , ” he said .
Meanwhile 74 per cent of pubs have opened and 44 per cent of bars , with year-on-year sales down 32.4 per cent and 41.3 per cent respectively .
Chessell added : “ Trading at approaching 70 per cent of pre-Covid norms after just two weeks should be seen as a solid performance , in the light of consumers @ @ @ @ @ @ @ and drink again after lockdown .
Read more : McDonald ’ s to open 700 restaurants for dine-in from tomorrow “ The steady improvement on the first week back is also encouraging , and operators will hope to maintain that momentum as more sites open their doors .
“ Providing the public with reassurance that it ’ s safe to go out and that they will also have a good time is going to be crucial .
”

Pub and restaurant sales jump in second week of trading
Of those who did not turn up to a booking in the past month, 30 per cent said it was because they had made more than one reservation at the exact same time slot. (Credit: Getty)
Pub, bar and restaurant sales started to improve in the second week after lockdown was lifted as more sites reopened, the latest research showed.
Hospitality businesses in England were allowed to reopen from 4 July as the coronavirus lockdown was eased, but sales jumped in the week beginning 13 July as more venues opened and more customers ventured out.
Total sales were up 40.6 per cent compared to the previous week, the latest research showed.
However sales were still down 31.6 per cent on the previous year, although that performance was better than the first week of reopening when year-on-year sales were down 39.8 per cent.
Restaurants reported the biggest jump, with like-for-likes down 26.9 per cent compared to 40 per cent in the first week.
However CGA director of food and retail Karl Chessell said it is too early to suggest that the increased sales could save jobs and businesses.
Restaurant groups have generally taken a more cautious approach to their reopening strategies, with just 24 per cent of sites currently open compared to 17 per cent in the first week.
“With so many sites still to open it is still incredibly tough for operators and there are likely to be continued challenges ahead,” he said.
Meanwhile 74 per cent of pubs have opened and 44 per cent of bars, with year-on-year sales down 32.4 per cent and 41.3 per cent respectively.
Chessell added: “Trading at approaching 70 per cent of pre-Covid norms after just two weeks should be seen as a solid performance, in the light of consumers stated caution about going out to eat and drink again after lockdown.
“The steady improvement on the first week back is also encouraging, and operators will hope to maintain that momentum as more sites open their doors.
“Providing the public with reassurance that it’s safe to go out and that they will also have a good time is going to be crucial.”


cityam--2020-07-23--The City View: Imran Gulamhuseinwala on Britain's open banking future

Today Andy is joined by Imran Gulamhuseinwala , the Implementation Trustee of Open Banking Ltd and the man tasked by the Government with driving forward the UK ’ s adoption of this potentially revolutionary technology .
They discuss the journey so far , the challenges along the way , and the burgeoning industry of third-party app developers all readying to take advantage of the new technology .
Andy also looks at the state of Brexit negotiations , the ongoing controversies in the online advertising market and mandatory face masks in the UK ’ s shops and cafes .
ETX Capital @ @ @ @ @ @ @ leading spread betting and CFD trading providers , offering services to retail , institutional , professional and high net worth customers via an award-winning trading platform .
With over 50 years of experience in the financial markets , customers and service are always put first at ETX , and the company prides itself in offering a tailor-made trading experience to every customer .
The multi-device TraderPro platform delivers a fully customisable , award-winning trading technology with customisable charts , instant execution and over 5,000 markets to trade .
Spread bets and CFDs are @ @ @ @ @ @ @ risk of losing money rapidly due to leverage .
76 % of retail investor accounts lose money when spread betting or trading CFDs with ETX .
You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721.ETX Capital provides an execution-only service and therefore any market analysis , opinion , commentary or other information provided during this webinar is for educational purposes only and is @ @ @ @ @ @ @ or construed as advice .
ETX Capital and the presenter are not financial or investment advisors and do not recommend any instrument of any kind .
Any instruments that are mentioned throughout are cited only for illustrative and educational purposes .

The City View: Imran Gulamhuseinwala on Britain’s open banking future
Subscribe to The City View Podcast: Apple / Google / Spotify / RSS
Today Andy is joined by Imran Gulamhuseinwala, the Implementation Trustee of Open Banking Ltd and the man tasked by the Government with driving forward the UK’s adoption of this potentially revolutionary technology.
They discuss the journey so far, the challenges along the way, and the burgeoning industry of third-party app developers all readying to take advantage of the new technology.
Andy also looks at the state of Brexit negotiations, the ongoing controversies in the online advertising market and mandatory face masks in the UK’s shops and cafes.
In association with ETX Capital
ETX Capital is one of the UK’s leading spread betting and CFD trading providers, offering services to retail, institutional, professional and high net worth customers via an award-winning trading platform. With over 50 years of experience in the financial markets, customers and service are always put first at ETX, and the company prides itself in offering a tailor-made trading experience to every customer. The multi-device TraderPro platform delivers a fully customisable, award-winning trading technology with customisable charts, instant execution and over 5,000 markets to trade.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting or trading CFDs with ETX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721.ETX Capital provides an execution-only service and therefore any market analysis, opinion, commentary or other information provided during this webinar is for educational purposes only and is not intended to be a personal recommendation or construed as advice. ETX Capital and the presenter are not financial or investment advisors and do not recommend any instrument of any kind. Any instruments that are mentioned throughout are cited only for illustrative and educational purposes.


cityam--2020-07-23--Apple shares sink on US deceptive practices probe report

Shares in Apple fell more than four per cent this evening following a report that the tech firm is facing a probe in multiple US states , which allege it engages in deceptive practices .
A March document obtained by a tech watchdog group showed the Texas attorney general may sue Apple for violating the state ’ s deceptive trade practices law , in connection with the multi-state investigation .
The document , which was obtained by the Tech Transparency Project , did not provide additional details .
Apple has faced class-action lawsuits in the past from consumers alleging that @ @ @ @ @ @ @ of iPhones with aging batteries .
The company agreed to pay up to $ 500m to settle one such lawsuit in London earlier this year .
Apple is also facing lawsuits alleging that it knew and concealed how the “ butterfly ” keyboards on its Macbook laptops were prone to failure .
The report caused a wider tech sell-off on Wall Street , causing the S & P 500 to end the day more than one per cent down .
It snapped a four-day winning streak for the index , with its biggest @ @ @ @ @ @ @ .
All three major US stock averages also lost ground , with falling stocks Apple , Microsoft and Amazon weighing the heaviest .
Apple is set to report its quarterly earnings next week , amid growing scrutiny of competition in the technology sector .
Chief executive Tim Cook will also appear before a US political committee on 27 July — alongside the bosses of Amazon , Alphabet and Facebook — to answer questions on their alleged use of market power to hurt rivals .
The companies are expected to argue that they themselves @ @ @ @ @ @ @ do not act unfairly towards smaller businesses .

Apple shares sink on US deceptive practices probe report
Shares in Apple fell more than four per cent this evening following a report that the tech firm is facing a probe in multiple US states, which allege it engages in deceptive practices.
A March document obtained by a tech watchdog group showed the Texas attorney general may sue Apple for violating the state’s deceptive trade practices law, in connection with the multi-state investigation.
The document, which was obtained by the Tech Transparency Project, did not provide additional details.
Apple has faced class-action lawsuits in the past from consumers alleging that it deceived them about slowing the performance of iPhones with aging batteries.
The company agreed to pay up to $500m to settle one such lawsuit in London earlier this year.
Apple is also facing lawsuits alleging that it knew and concealed how the “butterfly” keyboards on its Macbook laptops were prone to failure.
The report caused a wider tech sell-off on Wall Street, causing the S&P 500 to end the day more than one per cent down.
It snapped a four-day winning streak for the index, with its biggest daily percentage drop in nearly four weeks.
All three major US stock averages also lost ground, with falling stocks Apple, Microsoft and Amazon weighing the heaviest.
Apple is set to report its quarterly earnings next week, amid growing scrutiny of competition in the technology sector.
Chief executive Tim Cook will also appear before a US political committee on 27 July — alongside the bosses of Amazon, Alphabet and Facebook — to answer questions on their alleged use of market power to hurt rivals.
The companies are expected to argue that they themselves also face competition from others, and do not act unfairly towards smaller businesses.


cityam--2020-07-23--Ambassador looks a Great bet for in-form Ralph Beckett team

ONLY eight runners line up for the valuable one mile handicap ( 3.00pm ) that precedes the King George with the two at the top of the weights setting the bar pretty high .
Johan won snuggly at Newbury last month while Tsar looked well above average at Yarmouth and represents the same connections as Enable .
They are both plenty short enough and instead I ’ ll take a chance on Ralph Beckett ’ s GREAT AMBASSADOR at around 7/1 .
He finished a respectable seventh in the Britannia Stakes at the Royal meeting where the soft ground didn @ @ @ @ @ @ @ He ’ d previously shown a good turn of foot when winning well on the all-weather and could easily take advantage of a healthy weight concession from the market leaders .
It could potentially be a bumper afternoon for the famous Prince Khalid Abdullah green , pink and white silks .
Not only does his Juddmonte Farms operation saddle both Enable and Tsar , they also have the favourite for the valuable Moet & Chandon International Handicap ( 2.25pm ) , Blue Mist .
The five-year-old was not only drawn on the wrong @ @ @ @ @ @ @ Wokingham Handicap , but also experienced terrible traffic problems .
He stays on the same mark and the step up in trip is also a huge plus .
Ryan Moore takes over in the saddle and he is a worthy favourite at around 4/1 .
There is every chance he will win , but that ’ s a skinny price about one who rarely visits the winners ’ enclosure .
Instead I am prepared to take a chance on two at much bigger prices .
Firstly , old friend SPANISH CITY looks overpriced @ @ @ @ @ @ @ even bigger on the Tote ) .
Not only does he go really well at the track , he also arrives here in good form .
He was a decent third over an inadequate six furlongs in the Wokingham and then took a nasty bump at a crucial stage in the Bunbury Cup last time .
Life is definitely tough off a career high mark of 99 , but Ray Dawson takes off a valuable 5lbs which will hopefully see him in the mix .
Another more left-field selection is the Mick Appleby-trained @ @ @ @ @ @ @ 25/1 .
He probably did too much too soon in the Bunbury Cup last time and is better judged on his good third at Newmarket before that .
If he ’ s ridden with restraint once more , he could easily hit the frame or better .

Ambassador looks a Great bet for in-form Ralph Beckett team
Trainer Ralph Beckett could be in for a good Saturday
ONLY eight runners line up for the valuable one mile handicap (3.00pm) that precedes the King George with the two at the top of the weights setting the bar pretty high.
Johan won snuggly at Newbury last month while Tsar looked well above average at Yarmouth and represents the same connections as Enable.
They are both plenty short enough and instead I’ll take a chance on Ralph Beckett’s GREAT AMBASSADOR at around 7/1.
He finished a respectable seventh in the Britannia Stakes at the Royal meeting where the soft ground didn’t play to his strengths.
He’d previously shown a good turn of foot when winning well on the all-weather and could easily take advantage of a healthy weight concession from the market leaders.
It could potentially be a bumper afternoon for the famous Prince Khalid Abdullah green, pink and white silks.
Not only does his Juddmonte Farms operation saddle both Enable and Tsar, they also have the favourite for the valuable Moet & Chandon International Handicap (2.25pm), Blue Mist.
The five-year-old was not only drawn on the wrong side of the track in the Silver Wokingham Handicap, but also experienced terrible traffic problems.
He stays on the same mark and the step up in trip is also a huge plus.
Ryan Moore takes over in the saddle and he is a worthy favourite at around 4/1.
There is every chance he will win, but that’s a skinny price about one who rarely visits the winners’ enclosure.
Instead I am prepared to take a chance on two at much bigger prices.
Firstly, old friend SPANISH CITY looks overpriced at around 16/1 (he could pay even bigger on the Tote).
Not only does he go really well at the track, he also arrives here in good form.
He was a decent third over an inadequate six furlongs in the Wokingham and then took a nasty bump at a crucial stage in the Bunbury Cup last time.
Life is definitely tough off a career high mark of 99, but Ray Dawson takes off a valuable 5lbs which will hopefully see him in the mix.
Another more left-field selection is the Mick Appleby-trained KASBAAN who can be backed each-way at 25/1 .
He probably did too much too soon in the Bunbury Cup last time and is better judged on his good third at Newmarket before that.
If he’s ridden with restraint once more, he could easily hit the frame or better.
POINTERS
Spanish City e/w 16/1 2.25pm Ascot
Kasbaan e/w 25/1 2.25pm Ascot
Great Ambassador e/w 7/1 3.00pm Ascot


cityam--2020-07-23--Japan may just upset Enable in tactical affair

NOT since Nasram beat three rivals in the 1964 renewal of the King George VI and Queen Elizabeth II Stakes ( 3.35pm ) has a field of just four lined up for Saturday ’ s feature at Ascot .
However , what we lack in quantity , is more than made up for in quality as all are previous Group One winners .
The obvious starting point is with two-time winner Enable who is looking to rediscover the winning habit .
John Gosden ’ s super-talented mare has somewhat lost her cloak of invincibility since floundering in the mud behind @ @ @ @ @ @ @ de l ’ Arc de Triomphe .
Connections have put that defeat down to the combination of rain-softened ground and tactical error .
Ghaiyyath was sent for home far earlier than expected and Frankie Dettori was forced to commit Enable a lot earlier than he had probably hoped .
That meant that they were treading water inside the final hundred metres allowing Waldgesit to thwart her historic hat-trick bid .
There is probably plenty of truth in that excuse , but there is also a chance that the six-year-old is simply not as @ @ @ @ @ @ @ also beaten on her reappearance at Sandown in the Coral Eclipse last time when said to have needed the race badly .
Plenty will forgive her that blip as well as she was beaten by a very good horse in Ghaiyyath .
My concern is that her connections made similar noises ahead of last year ’ s Eclipse and she still managed to get the job done that day .
The truth is she may not have to be at her former best to win this assignment , but it worries me that @ @ @ @ @ @ @ as a mare still at the very top of her game .
I ’ m just convinced that the Aidan O ’ Brien-trained JAPAN is set to give her a real fright .
The market told you that he wasn ’ t fully tuned up for his reappearance at Royal Ascot where he ran a little flat .
He was again weak in the betting for the Eclipse where only a neck separated him and Enable at the line .
There shouldn ’ t be too much between the pair again and I @ @ @ @ @ @ @ at 3/1 than I would take the 8/13 about Enable .
Last season ’ s English and Irish Derby winners Anthony Van Dyck and Sovereign make up the quartet .
If the thought of taking short odds about the front pair isn ’ t appealing , you could do a lot worse than have a speculative saver on Sovereign at a potential monster price on the Tote at tote.co.uk .
He looked more than a little ring rusty on his seasonal reappearance and has plenty to find with all three opponents on the @ @ @ @ @ @ @ is purely a pace one as he looks the most likely to take them along .
If his better fancied stable companions allow him plenty of rope , Frankie Dettori will be left with a tricky decision on whether to sit with the leading contenders or chase the strong pace .
He could easily turn into the straight with a long lead and pilot error in behind could easily hand him the big prize .
If he were to touch 14/1 or 16/1 on the Tote , he may be worth a speculative @ @

Japan may just upset Enable in tactical affair
Japan could go one better than he did in the Eclipse
NOT since Nasram beat three rivals in the 1964 renewal of the King George VI and Queen Elizabeth II Stakes (3.35pm) has a field of just four lined up for Saturday’s feature at Ascot.
However, what we lack in quantity, is more than made up for in quality as all are previous Group One winners.
The obvious starting point is with two-time winner Enable who is looking to rediscover the winning habit.
John Gosden’s super-talented mare has somewhat lost her cloak of invincibility since floundering in the mud behind Waldgeist in last year’s Prix de l’Arc de Triomphe.
Connections have put that defeat down to the combination of rain-softened ground and tactical error.
Ghaiyyath was sent for home far earlier than expected and Frankie Dettori was forced to commit Enable a lot earlier than he had probably hoped.
That meant that they were treading water inside the final hundred metres allowing Waldgesit to thwart her historic hat-trick bid.
There is probably plenty of truth in that excuse, but there is also a chance that the six-year-old is simply not as good as she was.
She was also beaten on her reappearance at Sandown in the Coral Eclipse last time when said to have needed the race badly.
Plenty will forgive her that blip as well as she was beaten by a very good horse in Ghaiyyath.
My concern is that her connections made similar noises ahead of last year’s Eclipse and she still managed to get the job done that day.
The truth is she may not have to be at her former best to win this assignment, but it worries me that she is priced up in the market as a mare still at the very top of her game.
I’m just convinced that the Aidan O’Brien-trained JAPAN is set to give her a real fright.
The market told you that he wasn’t fully tuned up for his reappearance at Royal Ascot where he ran a little flat.
He was again weak in the betting for the Eclipse where only a neck separated him and Enable at the line.
There shouldn’t be too much between the pair again and I’d far rather side with Japan at 3/1 than I would take the 8/13 about Enable.
Last season’s English and Irish Derby winners Anthony Van Dyck and Sovereign make up the quartet.
If the thought of taking short odds about the front pair isn’t appealing, you could do a lot worse than have a speculative saver on Sovereign at a potential monster price on the Tote at tote.co.uk.
He looked more than a little ring rusty on his seasonal reappearance and has plenty to find with all three opponents on the form book.
The angle with him is purely a pace one as he looks the most likely to take them along.
If his better fancied stable companions allow him plenty of rope, Frankie Dettori will be left with a tricky decision on whether to sit with the leading contenders or chase the strong pace.
He could easily turn into the straight with a long lead and pilot error in behind could easily hand him the big prize.
If he were to touch 14/1 or 16/1 on the Tote, he may be worth a speculative wager.
Pointers
Japan 3.35pm Ascot


cityam--2020-07-23--Musk's SpaceX in talks to raise funds at $44bn valuation

Rocket company SpaceX is said to be in talks to raise a new round of funding at a $ 44bn valuation , following a successful few months for the tech firm .
SpaceX is seeking to raise approximately $ 1bn priced at $ 270 per share , people familiar with the matter told Bloomberg .
Helmed by tech billionaire Elon Musk , SpaceX secured $ 346.2m in fresh funding only two months ago at a valuation of about $ 36bn .
Read more : SpaceX astronauts arrive at ISS in historic moment for private spaceflight SpaceX ’ s Crew Dragon @ @ @ @ @ @ @ International Space Station ( ISS ) in May , making history as the first US space capsule to do so with a crew on board in almost a decade .
Musk is also the chief executive of electric carmaking giant Tesla , which this month became the world ’ s most valuable carmaker .
It reported its fourth straight profitable quarter yesterday — a key metric for inclusion into the S & P 500 index .
Read more : Tesla shares bounce on fourth consecutive quarterly profit The US space race has been @ @ @ @ @ @ @ SpaceX facing challenges from firms such as billionaire Sir Richard Branson ’ s Virgin Galactic .
In June Virgin Galactic signed a deal with Nasa to develop a programme to promote private missions to the ISS .
Virgin will help identify and train new candidates to become astronauts for commercial space flight as part of the deal .
Nasa will also be working with space firm Axiom on the programme , which previously signed a deal with SpaceX to take a batch of passengers to the ISS next year .

Musk’s SpaceX in talks to raise funds at $44bn valuation
The SpaceX hangar on Pad 39A on March 1, 2019, at Kennedy Space Center in Florida on March 1, 2019. – Liftoff of the SpaceX Falcon 9 for Demo-1, the first flight test of the companys Crew Dragon spacecraft, is targeted for March 2, at 2:49 a.m. EST. (Photo by Jim WATSON / AFP) (Photo credit should read JIM WATSON/AFP/Getty Images)
Rocket company SpaceX is said to be in talks to raise a new round of funding at a $44bn valuation, following a successful few months for the tech firm.
SpaceX is seeking to raise approximately $1bn priced at $270 per share, people familiar with the matter told Bloomberg.
Helmed by tech billionaire Elon Musk, SpaceX secured $346.2m in fresh funding only two months ago at a valuation of about $36bn.
SpaceX’s Crew Dragon capsule delivered two Nasa astronauts to the International Space Station (ISS) in May, making history as the first US space capsule to do so with a crew on board in almost a decade.
Musk is also the chief executive of electric carmaking giant Tesla, which this month became the world’s most valuable carmaker.
It reported its fourth straight profitable quarter yesterday — a key metric for inclusion into the S&P 500 index.
The US space race has been heating up in recent months, with SpaceX facing challenges from firms such as billionaire Sir Richard Branson’s Virgin Galactic.
In June Virgin Galactic signed a deal with Nasa to develop a programme to promote private missions to the ISS.
Virgin will help identify and train new candidates to become astronauts for commercial space flight as part of the deal.
Nasa will also be working with space firm Axiom on the programme, which previously signed a deal with SpaceX to take a batch of passengers to the ISS next year.


cityam--2020-07-23--Tesla sues Amazon-backed rival Rivian over technology secrets

Tesla has filed a lawsuit against electric truck-making startup Rivian , accusing it of stealing trade secrets and poaching its employees .
“ Rivian is knowingly encouraging the misappropriation of Tesla ’ s trade secret , confidential , and proprietary information by Tesla employees that Rivian hires , ” the company said in a lawsuit .
The filing pointed to four former Tesla employees for allegedly taking confidential information with them to their new roles .
Read more : Tesla shares bounce on fourth consecutive quarterly profit Tesla said in the past week it had discovered a “ disturbing pattern @ @ @ @ @ @ @ surreptitiously stealing Tesla trade secret , confidential , and proprietary information — information that is especially useful for startup electric vehicle company.
” Tesla said approximately 180 of Rivian ’ s 2,300-strong workforce were former Tesla employees .
It added that Rivian is allegedly encouraging those thefts , “ even though Rivian is well aware of Tesla employees ’ confidentiality obligations ” .
A Rivian spokesperson told CNBC : “ This suit ’ s allegations are baseless and run counter to Rivian ’ s culture , ethos and corporate policies.
” Read more @ @ @ @ @ @ @ $ 2.5bn in single round It said it requires all employees to confirm that they will not introduce any technology from their former employers into Rivian ’ s systems .
Rivian made headlines earlier this month when it secured $ 2.5bn in fresh funding from T. Rowe Price and Amazon , among other investors .
Tesla has previously sued self-driving car startup Zoox on similar grounds , which was acquired by Amazon for $ 1bn last month .
The two settled the lawsuit for an undisclosed amount .

Tesla sues Amazon-backed rival Rivian over technology secrets
Rivian secured a $2.5bn investment from T. Rowe Price earlier this month
Tesla has filed a lawsuit against electric truck-making startup Rivian, accusing it of stealing trade secrets and poaching its employees.
“Rivian is knowingly encouraging the misappropriation of Tesla’s trade secret, confidential, and proprietary information by Tesla employees that Rivian hires,” the company said in a lawsuit.
The filing pointed to four former Tesla employees for allegedly taking confidential information with them to their new roles.
Tesla said in the past week it had discovered a “disturbing pattern of employees who are departing for Rivian surreptitiously stealing Tesla trade secret, confidential, and proprietary information — information that is especially useful for startup electric vehicle company.”
Tesla said approximately 180 of Rivian’s 2,300-strong workforce were former Tesla employees.
It added that Rivian is allegedly encouraging those thefts, “even though Rivian is well aware of Tesla employees’ confidentiality obligations”.
A Rivian spokesperson told CNBC: “This suit’s allegations are baseless and run counter to Rivian’s culture, ethos and corporate policies.”
It said it requires all employees to confirm that they will not introduce any technology from their former employers into Rivian’s systems.
Rivian made headlines earlier this month when it secured $2.5bn in fresh funding from T. Rowe Price and Amazon, among other investors.
Tesla has previously sued self-driving car startup Zoox on similar grounds, which was acquired by Amazon for $1bn last month. The two settled the lawsuit for an undisclosed amount.


cityam--2020-07-23--Shaun Bailey accuses Sadiq Khan of misleading MPs over TfL pay

Shaun Bailey has challenged London mayor Sadiq Khan ’ s claims that the number of Transport for London employees earning over £100,000 had dropped during his tenure .
Speaking to MPs yesterday at a hearing of the transport select committee , Khan was asked by Robert Largan to justify why 557 employees were on such remuneration packages .
Read more : Sadiq Khan suggests London tax autonomy in new TfL bailout deal The mayor promised to write back to the committee with the exact figures , but said that it had gone down “ hugely ” since he became mayor @ @ @ @ @ @ @ the previous administration , when numbers of those earning over £100,000 were going up and bonuses were going up , in the last four years they have been going down ” .
When asked to confirm whether the number had fallen by Largan , he said : “ Yes .
And bonuses as well ” .
However , in a letter to committee chair Huw Merriman , Conservative mayoral candidate Bailey accused Khan of “ either ignorance of his own job or a deliberate attempt to mislead parliament ” .
Bailey pointed to @ @ @ @ @ @ @ show that while 557 people earned over £100,000 this year , in the last year of Johnson ’ s mayoralty 458 people were on such salaries , including Crossrail workers .
Before the Open newsletter : Start your day with the City View podcast and key market data The figure has in fact increased every year since Khan took office bar last in 2018/19 .
In 2016/17 , there were 576 employees on such salaries , a figure that increased to 617 the next year , before falling to 515 last year .
@ @ @ @ @ @ @ defend his record , he ’ s not entitled to do so using inaccurate statistics ” , Bailey said .
“ And it is simply not the case that the number of TfL staff earning over £100,000 has fallen under his mayoralty .
However , according to TfL , of the 557 on such pay packets , 156 had a base salary of over £100,000 , while the rest had their pay boosted by overtime or severance packages .
By comparison , before Khan took over in 2016 , there were 188 employees @ @ @ @ @ @ @ year ’ s figures include 36 employees of the long-delayed Crossrail project , which Khan said would be delayed further .
Read more : Crossrail set for further delays and cost increases due to coronavirus A spokesperson for the mayor of London said : “ Sadiq has frozen the salaries of top TfL executives for the duration of his mayoral term , and has reduced the number of senior managers earning salaries over £100,000 .
“ Sadiq has himself committed to taking a 10 per cent pay cut – and to freeze the @ @ @ @ @ @ @ This is on top of the 11 per cent saving to taxpayers arising from the mayor ’ s decision in 2016 not to take a pension , unlike previous mayors .
”

Shaun Bailey accuses Sadiq Khan of misleading MPs over TfL pay
The mayor of London joined calls for the furlough scheme to be extended until at least June
Shaun Bailey has challenged London mayor Sadiq Khan’s claims that the number of Transport for London employees earning over £100,000 had dropped during his tenure.
Speaking to MPs yesterday at a hearing of the transport select committee, Khan was asked by Robert Largan to justify why 557 employees were on such remuneration packages.
The mayor promised to write back to the committee with the exact figures, but said that it had gone down “hugely” since he became mayor.
He added: “Unlike during the previous administration, when numbers of those earning over £100,000 were going up and bonuses were going up, in the last four years they have been going down”.
When asked to confirm whether the number had fallen by Largan, he said: “Yes. And bonuses as well”.
However, in a letter to committee chair Huw Merriman, Conservative mayoral candidate Bailey accused Khan of “either ignorance of his own job or a deliberate attempt to mislead parliament”.
Bailey pointed to TfL’s own accounts, which show that while 557 people earned over £100,000 this year, in the last year of Johnson’s mayoralty 458 people were on such salaries, including Crossrail workers.
Before the Open newsletter: Start your day with the City View podcast and key market data
The figure has in fact increased every year since Khan took office bar last in 2018/19. In 2016/17, there were 576 employees on such salaries, a figure that increased to 617 the next year, before falling to 515 last year.
“While the Mayor is entitled to defend his record, he’s not entitled to do so using inaccurate statistics”, Bailey said.
“And it is simply not the case that the number of TfL staff earning over £100,000 has fallen under his mayoralty.
However, according to TfL, of the 557 on such pay packets, 156 had a base salary of over £100,000, while the rest had their pay boosted by overtime or severance packages.
By comparison, before Khan took over in 2016, there were 188 employees with base salaries above £100,000.
This year’s figures include 36 employees of the long-delayed Crossrail project, which Khan said would be delayed further.
A spokesperson for the mayor of London said: “Sadiq has frozen the salaries of top TfL executives for the duration of his mayoral term, and has reduced the number of senior managers earning salaries over £100,000.
“Sadiq has himself committed to taking a 10 per cent pay cut – and to freeze the salaries of his 15 direct appointments. This is on top of the 11 per cent saving to taxpayers arising from the mayor’s decision in 2016 not to take a pension, unlike previous mayors.”


cityam--2020-07-23--City figures worried about prospect of Brexit without trade deal

City of London figures have expressed concern about the increasing likelihood of the UK leaving the post-Brexit transition period without a deal .
The latest round of talks wrapped up today , with both sides saying no serious progress was made on the most contentious issues .
Read more : Brexit : UK-EU free trade deal ‘ now unlikely ’ after last round of talks The two largest areas of contention are still EU fishing access to UK waters and business competition regulations known as the level playing field .
The UK will leave the EU single market and customs @ @ @ @ @ @ @ without a deal .
UK chief negotiator David Frost said he still believed a deal could be done by September , but that “ considerable gaps remain in the most difficult areas ” .
EU chief negotiator Michel Barnier went as far as to say that a deal was now “ unlikely ” without serious compromises .
Barnier ’ s comments sparked concern in some corners of the Square Mile .
Alex Altmann , partner at accountancy and business advisory firm firm Blick Rothernberg , said the UK was at risk of “ @ @ @ @ @ @ @ trading hub ” .
“ We already know that UK exporters will be hit with a cost shock selling goods into the EU due to new border requirements , ” he said .
Before the Open newsletter : Start your day with the City View podcast and key market data “ But if tariffs and quotas come on top the UK will become a very unattractive place for global companies to make business in Europe.
” Andrew Duncan , chief executive of management consultancy firm Infosys , added : “ The economically disruptive @ @ @ @ @ @ @ Brexit still remains possible , and sterling would almost certainly depreciate sharply again .
“ Such an outcome will significantly extend the post-crisis recovery in GDP growth that we were hoping for in 2021 and beyond.
” Trade barriers between the EU and UK will be immediately erected in the form of tariffs and quotas if no deal is struck by the end of the year .
The City of London can still retain access to EU markets if the UK is granted regulatory equivalency by Brussels , which is separate from the @ @ @ @ @ @ @ chairman of City of London communications group Cicero/AMO , said the process had been a “ roller coaster ” , but that he still thought a deal would get done .
“ I ’ m sticking to with my feeling that there is a deal to be done – not a comprehensive trade deal , but a framework deal , ” he said .
Read more : UK unveils plans for frictionless post-Brexit trade between UK nations He added : “ All City eyes will be on ensuring things like data sharing and @ @ @ @ @ @ @ is a bridge on these issues .
“ Most of the people who I speak to already made preparations for the UK ’ s exit from the single market last year .
”

City figures worried about prospect of Brexit without trade deal
City of London figures have expressed concern about the increasing likelihood of the UK leaving the post-Brexit transition period without a deal.
The latest round of talks wrapped up today, with both sides saying no serious progress was made on the most contentious issues.
The two largest areas of contention are still EU fishing access to UK waters and business competition regulations known as the level playing field.
The UK will leave the EU single market and customs union on 31 December, with or without a deal.
UK chief negotiator David Frost said he still believed a deal could be done by September, but that “considerable gaps remain in the most difficult areas”.
EU chief negotiator Michel Barnier went as far as to say that a deal was now “unlikely” without serious compromises.
Barnier’s comments sparked concern in some corners of the Square Mile.
Alex Altmann, partner at accountancy and business advisory firm firm Blick Rothernberg, said the UK was at risk of “losing its competitive advantage as a European trading hub”.
“We already know that UK exporters will be hit with a cost shock selling goods into the EU due to new border requirements,” he said.
Before the Open newsletter: Start your day with the City View podcast and key market data
“But if tariffs and quotas come on top the UK will become a very unattractive place for global companies to make business in Europe.”
Andrew Duncan, chief executive of management consultancy firm Infosys, added: “The economically disruptive ‘cliff-edge’ outcome of a no-deal Brexit still remains possible, and sterling would almost certainly depreciate sharply again.
“Such an outcome will significantly extend the post-crisis recovery in GDP growth that we were hoping for in 2021 and beyond.”
Trade barriers between the EU and UK will be immediately erected in the form of tariffs and quotas if no deal is struck by the end of the year.
The City of London can still retain access to EU markets if the UK is granted regulatory equivalency by Brussels, which is separate from the trade negotiations.
Iain Anderson, executive chairman of City of London communications group Cicero/AMO, said the process had been a “roller coaster”, but that he still thought a deal would get done.
“I’m sticking to with my feeling that there is a deal to be done – not a comprehensive trade deal, but a framework deal,” he said.
He added: “All City eyes will be on ensuring things like data sharing and contract continuity are sorted and that there is a bridge on these issues.
“Most of the people who I speak to already made preparations for the UK’s exit from the single market last year.”


cityam--2020-07-24--EU countries must urgently diversify 5G suppliers in Huawei aftermath, Commission says

EU countries must take urgent action to diversify their 5G suppliers , the European Commission said today , a move set to shrink Huawei ’ s presence in Europe as the US pressured the bloc to follow the UK and ban the Chinese company from 5G networks .
In November last year , the European Union agreed to take a tough line on 5G suppliers to reduce cybersecurity risks to next-generation mobile networks , seen as key to boosting economic growth and competitiveness .
The strategy included reducing countries ’ and telecoms operators ’ dependency on one supplier .
The @ @ @ @ @ @ @ Huawei competes with Finland ’ s Nokia and Sweden ’ s Ericsson .
Read more : Oliver Dowden : Joe Biden presidency will not change UK Huawei sanctions While some progress has been made , a lot of work needs to be done , the Commission said .
“ Progress is urgently needed to mitigate the risk of dependency on high-risk suppliers , also with a view to reducing dependencies at ( European ) Union level , ” the EU executive said , reporting on the progress made by the 27 EU countries @ @ @ @ @ @ @ designing and imposing appropriate multi-vendor strategies for individual MNOs ( mobile network operator ) or at national level due to technical or operational difficulties , ” it said , citing the lack of interoperability or the size of the country as some of the problems .
In addition to the UK , France is also adopting a de facto ban on Huawei , sources told Reuters earlier this week .
Read more : Trump on UK ’ s Huawei U-turn : ‘ I did this myself ’ The US says the Shenzen-based company @ @ @ @ @ @ @ China for spying , an accusation rejected by Huawei .
EU officials said phasing out high-risk suppliers and additional costs will not derail the roll out of 5G across the bloc and that Ericsson and Nokia will be able to cope with the demand .
“ If you look at the situation worldwide , Nokia and Ericsson have a large part of the world market in terms of contracts signed worldwide on deployment of 5G , ” one of the officials said .
“ The two combined have certainly more than 50 per @ @ @ @ @ @ @ per cent .
I think that two European suppliers can provide what is needed not only for Europe but also for a large part of the world.
” The Commission also urged 13 EU countries to adopt the foreign direct investments screening mechanism without delay — a tool which allows EU governments to intervene in cases of foreign direct investment in strategic assets , especially if state-controlled or state-financed enterprises are involved .

EU countries must urgently diversify 5G suppliers in Huawei aftermath, Commission says
PM Boris Johnson U-turned on an earlier decision to allow Huawei into non-core parts of the UK’s 5G network, causing consternation for British telcos
EU countries must take urgent action to diversify their 5G suppliers, the European Commission said today, a move set to shrink Huawei’s presence in Europe as the US pressured the bloc to follow the UK and ban the Chinese company from 5G networks.
In November last year, the European Union agreed to take a tough line on 5G suppliers to reduce cybersecurity risks to next-generation mobile networks, seen as key to boosting economic growth and competitiveness.
The strategy included reducing countries’ and telecoms operators’ dependency on one supplier. The world’s largest telecoms equipment maker Huawei competes with Finland’s Nokia and Sweden’s Ericsson.
While some progress has been made, a lot of work needs to be done, the Commission said.
“Progress is urgently needed to mitigate the risk of dependency on high-risk suppliers, also with a view to reducing dependencies at (European) Union level,” the EU executive said, reporting on the progress made by the 27 EU countries.
“Challenges have been identified in designing and imposing appropriate multi-vendor strategies for individual MNOs (mobile network operator) or at national level due to technical or operational difficulties,” it said, citing the lack of interoperability or the size of the country as some of the problems.
In addition to the UK, France is also adopting a de facto ban on Huawei, sources told Reuters earlier this week.
The US says the Shenzen-based company’s gear could be used by China for spying, an accusation rejected by Huawei.
EU officials said phasing out high-risk suppliers and additional costs will not derail the roll out of 5G across the bloc and that Ericsson and Nokia will be able to cope with the demand.
“If you look at the situation worldwide, Nokia and Ericsson have a large part of the world market in terms of contracts signed worldwide on deployment of 5G,” one of the officials said.
“The two combined have certainly more than 50 per cent to 60 per cent, 65 per cent. I think that two European suppliers can provide what is needed not only for Europe but also for a large part of the world.”
The Commission also urged 13 EU countries to adopt the foreign direct investments screening mechanism without delay — a tool which allows EU governments to intervene in cases of foreign direct investment in strategic assets, especially if state-controlled or state-financed enterprises are involved.


cityam--2020-07-24--Johnson wages war on junk food ads in bid to tackle UK obesity

Boris Johnson is set to announce sweeping measures to overhaul junk food advertising in the UK , which could include a 9pm watershed on TV adverts .
The Prime Minister ’ s long-awaited obesity strategy , which could be announced as soon as next week , will likely involve a ban on online advertising of unhealthy foods , a 9pm watershed on junk food TV adverts , and strict curbs on in-store promotions .
Read more : Johnson calls anti-vaxxers ‘ nuts ’ as fears mount over second wave of coronavirus The shake-up will form one of the most restrictive @ @ @ @ @ @ @ history that will likely have a profound effect on the way brands and retail stores sell unhealthy food .
Buy one get one free offers may face an outright ban , and restaurant chains may be expected to display calorie counts on menus .
Ministers are also discussing a ban on sweets and chocolate being promoted at the end of supermarket aisles or at tills .
Food and drinks with high levels of sugar or salt are likely to require prominent labelling , and The Prime Minister wants to launch a consultation on @ @ @ @ @ @ @ Johnson has previously voiced his resistance to so-called sin taxes , which seek to dissuade customers from buying unhealthy foods by driving up prices .
However , it is thought the coronavirus crisis has shocked the Prime Minister into action on the issue of obesity , which has been proven to increase the mortality rate among those infected with Covid-19 .
Britain is the second-fattest nation in Europe behind Malta , with 64 per cent of adults and 30 per cent of children either overweight or obese .
Johnson , who was put @ @ @ @ @ @ @ , believes his own weight contributed to his health scare .
Ministers are currently finalising the new obesity strategy , but government sources have stressed that some elements are still boeing negotiated , the Telegraph reported .
Since 2007 , junk food ads that appeal to children have been banned from being broadcasted on TV during programmes .
Targeting children online , in print and in cinemas is also banned .
Commercial broadcasters have warned that an outright ban on advertising fatty , salty or sugary foods will cause huge financial disruption , @ @ @ @ @ @ @ slump in advertising revenue during the coronavirus crisis .
Brinsley Dresden , partner at law firm Lewis Silkin , said : “ The proposed ban on so-called junk food advertising is not evidence based policy , but a knee jerk reaction by the Prime Minister to his personal experiences .
“ The cost of the ban will be borne by struggling broadcasters and advertisers , but it will serve no useful purpose .
It will have no meaningful impact on obesity .
It only serves as a policy fig leaf for the government.
@ @ @ @ @ @ @ ban would affect around £200m of ad spending across the sector , the Financial Times reported .
Meanwhile , advertisers have voiced concerns that the fresh curbs will affect both big and small companies , from fast food giants such as McDonald ’ s down to small manufacturers .
“ Brands have partnered effectively with government over the lockdown period to support , develop and amplify public health campaigns , ” said Phil Smith , chief executive of ISBA , which represents leading UK advertisers .
Read more : McDonald ’ s to @ @ @ @ @ @ @ “ Just as business begins to chart a course back from the severe impacts of Covid-19 , such an ill-thought out policy cuts across Treasury efforts to support the sector and risks jobs and livelihoods.
” Stephen Woodford , the chief executive of the Advertising Association , said the government ’ s own research had shown that “ such restrictions would have minimal impact on obesity levels ” .

Johnson wages war on junk food ads in bid to tackle UK obesity
Boris Johnson is set to announce sweeping measures to overhaul junk food advertising in the UK, which could include a 9pm watershed on TV adverts.
The Prime Minister’s long-awaited obesity strategy, which could be announced as soon as next week, will likely involve a ban on online advertising of unhealthy foods, a 9pm watershed on junk food TV adverts, and strict curbs on in-store promotions.
The shake-up will form one of the most restrictive marketing regimes in the UK’s history that will likely have a profound effect on the way brands and retail stores sell unhealthy food.
Buy one get one free offers may face an outright ban, and restaurant chains may be expected to display calorie counts on menus. Ministers are also discussing a ban on sweets and chocolate being promoted at the end of supermarket aisles or at tills.
Food and drinks with high levels of sugar or salt are likely to require prominent labelling, and The Prime Minister wants to launch a consultation on putting calorie labels on alcoholic drinks.
Johnson has previously voiced his resistance to so-called sin taxes, which seek to dissuade customers from buying unhealthy foods by driving up prices.
However, it is thought the coronavirus crisis has shocked the Prime Minister into action on the issue of obesity, which has been proven to increase the mortality rate among those infected with Covid-19.
Britain is the second-fattest nation in Europe behind Malta, with 64 per cent of adults and 30 per cent of children either overweight or obese.
Johnson, who was put in intensive care after catching the virus, believes his own weight contributed to his health scare.
Ministers are currently finalising the new obesity strategy, but government sources have stressed that some elements are still boeing negotiated, the Telegraph reported.
Since 2007, junk food ads that appeal to children have been banned from being broadcasted on TV during programmes. Targeting children online, in print and in cinemas is also banned.
Commercial broadcasters have warned that an outright ban on advertising fatty, salty or sugary foods will cause huge financial disruption, while they are already suffering from a slump in advertising revenue during the coronavirus crisis.
Brinsley Dresden, partner at law firm Lewis Silkin, said: “The proposed ban on so-called junk food advertising is not evidence based policy, but a knee jerk reaction by the Prime Minister to his personal experiences.
“The cost of the ban will be borne by struggling broadcasters and advertisers, but it will serve no useful purpose. It will have no meaningful impact on obesity. It only serves as a policy fig leaf for the government.”
Television executives have estimated that a ban would affect around £200m of ad spending across the sector, the Financial Times reported.
Meanwhile, advertisers have voiced concerns that the fresh curbs will affect both big and small companies, from fast food giants such as McDonald’s down to small manufacturers.
“Brands have partnered effectively with government over the lockdown period to support, develop and amplify public health campaigns,” said Phil Smith, chief executive of ISBA, which represents leading UK advertisers.
“Just as business begins to chart a course back from the severe impacts of Covid-19, such an ill-thought out policy cuts across Treasury efforts to support the sector and risks jobs and livelihoods.”
Stephen Woodford, the chief executive of the Advertising Association, said the government’s own research had shown that “such restrictions would have minimal impact on obesity levels”.