cityam--2020-12-10--Sport at Christmas: Why the festive period is a gift for canny PRs seeking impactful coverage

Did we take for granted just how much incredible sport usually takes place throughout the festive period ?
In football , we have Boxing Day and New Year ’ s Day fixtures .
Rugby , meanwhile , sees the annual Big Game in which Harlequins head across the road to Twickenham for the ultimate booze-filled day out for 80,000 fans .
Inevitably , it is a bit different this year .
While spectators are able to return in dribs and drabs to stadia across the UK , the atmosphere won ’ t quite be the same .
Regardless , it @ @ @ @ @ @ @ of it anyway .
Read more : Post-Brexit transfer rules : How they work and why legal experts believe they are good for English football My favourite event of the festive period , the Big Game , sadly won ’ t be taking place this year .
But throughout December we will see live sport up and down the country , from Premier League football to Premiership rugby and even a spot of darts at Ally Pally .
One aspect that won ’ t change this year is that , as people head @ @ @ @ @ @ @ quietens down a bit .
In this particularly hectic year , PR teams will have felt the struggle of battling against a busy news agenda to command column inches or space in the bulletins .
But December is a slightly different picture .
It ’ s always the quieter of months .
That has to be said tentatively as we all know how topsy turvy 2020 has proven to be .
And with the vaccine roll-out ongoing , it would be reckless to predict this month ’ s news agenda .
But it @ @ @ @ @ @ @ a couple of weeks over the festive period , many shut up shop .
Social media platforms go quiet , apart from a few pre-scheduled tweets , and PRs switch on their out-of-office replies .
Sport at Christmas is an open goal What people don ’ t realise , however , is the opportunity staring them in the face .
We ’ ve all been there , just sat idly scrolling on our phone through boredom while grandad reads the paper and mum is browsing the news on her tablet .
News consumption @ @ @ @ @ @ @ period , presenting brands with a great opportunity .
People have more time on their hands .
What ’ s more , with the PRs in holiday mode throughout large parts of the month , there is , to some degree , increased space in papers and planning sheets .
While we might not be seeing the usual hype around sports , and the need to drive ticket sales and engagement isn ’ t as high for obvious reasons , that doesn ’ t mean that the interest shouldn ’ t still be @ @ @ @ @ @ @ goal to translate good news stories into impactful coverage during December .
After all , ‘ tis the season of goodwill , so even the editors are allowed to get into the spirit .
Nick Rewcastle is the founder of sports PR consultancy NR PR and the former communications lead at Harlequins .

Sport at Christmas: Why the festive period is a gift for canny PRs seeking impactful coverage
December and the Christmas period in particular are busy times for sport
Did we take for granted just how much incredible sport usually takes place throughout the festive period?
In football, we have Boxing Day and New Year’s Day fixtures. Rugby, meanwhile, sees the annual Big Game in which Harlequins head across the road to Twickenham for the ultimate booze-filled day out for 80,000 fans.
Inevitably, it is a bit different this year. While spectators are able to return in dribs and drabs to stadia across the UK, the atmosphere won’t quite be the same. Regardless, it’s happening. Well, most of it anyway.
My favourite event of the festive period, the Big Game, sadly won’t be taking place this year. But throughout December we will see live sport up and down the country, from Premier League football to Premiership rugby and even a spot of darts at Ally Pally.
One aspect that won’t change this year is that, as people head off on their festive break, everything quietens down a bit.
In this particularly hectic year, PR teams will have felt the struggle of battling against a busy news agenda to command column inches or space in the bulletins. But December is a slightly different picture.
It’s always the quieter of months. That has to be said tentatively as we all know how topsy turvy 2020 has proven to be. And with the vaccine roll-out ongoing, it would be reckless to predict this month’s news agenda.
But it’s usually true that, for a couple of weeks over the festive period, many shut up shop. Social media platforms go quiet, apart from a few pre-scheduled tweets, and PRs switch on their out-of-office replies.
Sport at Christmas is an open goal
What people don’t realise, however, is the opportunity staring them in the face.
We’ve all been there, just sat idly scrolling on our phone through boredom while grandad reads the paper and mum is browsing the news on her tablet.
News consumption is arguably at its highest during this period, presenting brands with a great opportunity.
People have more time on their hands. What’s more, with the PRs in holiday mode throughout large parts of the month, there is, to some degree, increased space in papers and planning sheets.
While we might not be seeing the usual hype around sports, and the need to drive ticket sales and engagement isn’t as high for obvious reasons, that doesn’t mean that the interest shouldn’t still be there.
It’s an open goal to translate good news stories into impactful coverage during December. After all, ‘tis the season of goodwill, so even the editors are allowed to get into the spirit.
Nick Rewcastle is the founder of sports PR consultancy NR PR and the former communications lead at Harlequins.


cityam--2020-12-10--City regulator confirms mini-bond marketing ban

The Financial Conduct Authority has today confirmed its permanent ban on the marketing of mini-bonds to retail investors amid concerns over losses .
It comes after a series of scandals involving unregulated bonds , including the collapse of London Capital & Finance ( LCF ) last year .
Read more : FCA to make mini-bond marketing ban permanent following LCF scandal The confirmation follows a temporary ban introduced in January after the regulator found the risks linked to the mass-marketing of mini-bonds was sufficiently “ serious and immediate ” to justify intervention without consultation .
It later published a consultation @ @ @ @ @ @ @ scope of the ban .
Mini-bonds are not regulated by the FCA , and concerns have been raised that ordinary investors do not understand the risks they carry and are unable to afford the potential financial losses involved .
LCF collapsed in January 2019 after issuing mini-bonds worth £236m to over 11,000 investors .
The FCA said the new rules will come into effect on 1 January 2021 and will bring listed bonds with similar features to other speculative illiquid securities , and which are not regularly traded , within the scope of @ @ @ @ @ @ @ ve today confirmed our proposals to make the speculative mini-bond ban permanent and extend its scope .
These products are high risk and are often designed to be hard to understand , ” said Sheldon Mills , interim executive director of strategy and competition .
“ Consumers should always be wary of any investment promising high returns while downplaying risks.
” Read more : Bank of England governor Bailey to be interview by London Capital & Finance inquiry In its consultation paper published over the summer the FCA said products which fall under @ @ @ @ @ @ @ investors who firms know are “ sophisticated or high net worth ” .
It also said that marketing material will also need to disclose costs or payments to third parties which are deducted by the funds raised by retail investors .

City regulator confirms mini-bond marketing ban
The Financial Conduct Authority has today confirmed its permanent ban on the marketing of mini-bonds to retail investors amid concerns over losses.
It comes after a series of scandals involving unregulated bonds, including the collapse of London Capital & Finance (LCF) last year.
The confirmation follows a temporary ban introduced in January after the regulator found the risks linked to the mass-marketing of mini-bonds was sufficiently “serious and immediate” to justify intervention without consultation.
It later published a consultation paper over the summer setting out the scope of the ban.
Mini-bonds are not regulated by the FCA, and concerns have been raised that ordinary investors do not understand the risks they carry and are unable to afford the potential financial losses involved.
LCF collapsed in January 2019 after issuing mini-bonds worth £236m to over 11,000 investors.
The FCA said the new rules will come into effect on 1 January 2021 and will bring listed bonds with similar features to other speculative illiquid securities, and which are not regularly traded, within the scope of the ban.
“‘We’ve today confirmed our proposals to make the speculative mini-bond ban permanent and extend its scope. These products are high risk and are often designed to be hard to understand,” said Sheldon Mills, interim executive director of strategy and competition.
“Consumers should always be wary of any investment promising high returns while downplaying risks.”
In its consultation paper published over the summer the FCA said products which fall under the ban can only be marketed to investors who firms know are “sophisticated or high net worth”.
It also said that marketing material will also need to disclose costs or payments to third parties which are deducted by the funds raised by retail investors.


cityam--2020-12-10--Pound sterling sinks lower on no-deal Brexit jitters

The Brexit-battered pound extended its losses against the dollar and the euro this morning , on no-deal Brexit concerns .
Sterling is currently sitting just above €1.10 , down 0.8 per cent , while it was buying $ 1.33 , down 0.6 per cent .
Read more : ‘ Firm decision ’ on Brexit talks set for Sunday Investors have became more cautious about the risk of Britain and the EU failing to agree on a Brexit deal , with just three weeks until new year ’ s eve deadline .
The pound dropped late last night , when a @ @ @ @ @ @ @ and European Commission President Ursula von der Leyen ended with both sides still “ far apart.
” “ At the current juncture , the balance of risks appears to be shifting to the downside for the pound as the end game approaches for Brexit talks , ” Lee Hardman , currency analyst at MUFG , wrote in a note to clients .
“ Hopes for a last-minute trade deal are fading .
Pound sterling has been jittery on Brexit headlines , dropping in response to news suggesting a deal is unlikely and rising @ @ @ @ @ @ @ banks still think that a Brexit deal will be reached at the last minute .

Pound sterling sinks lower on no-deal Brexit jitters
Prime Minister Boris Johnson and European Commission president Ursula von der Leyen met for a dinner last night to reach a breakthrough on a post-Brexit trade deal (Photo by Aaron Chown – WPA Pool/Getty Images)
The Brexit-battered pound extended its losses against the dollar and the euro this morning, on no-deal Brexit concerns.
Sterling is currently sitting just above €1.10, down 0.8 per cent, while it was buying $1.33, down 0.6 per cent.
Investors have became more cautious about the risk of Britain and the EU failing to agree on a Brexit deal, with just three weeks until new year’s eve deadline.
The pound dropped late last night, when a dinner between UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen ended with both sides still “far apart.”
“At the current juncture, the balance of risks appears to be shifting to the downside for the pound as the end game approaches for Brexit talks,” Lee Hardman, currency analyst at MUFG, wrote in a note to clients. “Hopes for a last-minute trade deal are fading.
Pound sterling has been jittery on Brexit headlines, dropping in response to news suggesting a deal is unlikely and rising when hopes are raised. Many investment banks still think that a Brexit deal will be reached at the last minute.


cityam--2020-12-10--EU sets out plans to ensure flights and fishing are not disrupted in no-deal Brexit

Brussels has set out a plan to ensure UK-EU flights and fisheries arrangements are not disrupted in the case of a no-deal Brexit on 1 January next year .
European Commission President Ursula von der Leyen released a statement today to announce a proposal to “ ensure the provision of certain air services between the UK and EU for six months ” , while also urging the UK government to do the same .
The no-deal contingency plan statement also called for “ continued reciprocal access by EU and UK vessels to each other ’ s waters after 31 December @ @ @ @ @ @ @ no Brexit trade deal struck before then .
The proposals on fishing in particular will infuriate Brexiteers , after Boris Johnson ’ s negotiators have said all year that the UK will be a “ independent coastal state ” next year and will not continue current fisheries arrangements .
Von der Leyen also laid out plans to ensure “ basic connectivity with regard to both road freight and road passenger transport for six months ” .
“ Given that the time of the transition is very near , there is no guarantee that @ @ @ @ @ @ @ , it can enter into force on time , ” von der Leyen said .
Before the Open newsletter : Start your day with the City View podcast and key market data “ Our responsibility is to be prepared for all eventualities , including not having a deal in place with the UK on 1 January 2021 .
That is why we are coming forward with these measures today.
” Brexiteer Tory MP David Jones told the Telegraph that the proposals are “ effectively blackmail ” and “ piratical behaviour ” .
“ @ @ @ @ @ @ @ the Prime Minister will give is that this country does not buckle in the face of intimidation , ” he said .
Johnson met with von der Leyen in Brussels last night , with the pair agreeing to continue trade negotiations in the coming days .
They have set a new deadline of Sunday to close a deal , with the pair saying “ a firm decision should be taken about the future of the talks ” at this time .
This has been the latest of many Brexit trade negotiations deadlines , @ @ @ @ @ @ @ be Wednesday .

EU sets out plans to ensure flights and fishing are not disrupted in no-deal Brexit
Brussels has set out a plan to ensure UK-EU flights and fisheries arrangements are not disrupted in the case of a no-deal Brexit on 1 January next year.
European Commission President Ursula von der Leyen released a statement today to announce a proposal to “ensure the provision of certain air services between the UK and EU for six months”, while also urging the UK government to do the same.
The no-deal contingency plan statement also called for “continued reciprocal access by EU and UK vessels to each other’s waters after 31 December” for 12 months if there is no Brexit trade deal struck before then.
The proposals on fishing in particular will infuriate Brexiteers, after Boris Johnson’s negotiators have said all year that the UK will be a “independent coastal state” next year and will not continue current fisheries arrangements.
Von der Leyen also laid out plans to ensure “basic connectivity with regard to both road freight and road passenger transport for six months”.
“Given that the time of the transition is very near, there is no guarantee that if and when an agreement is found, it can enter into force on time,” von der Leyen said.
Before the Open newsletter: Start your day with the City View podcast and key market data
“Our responsibility is to be prepared for all eventualities, including not having a deal in place with the UK on 1 January 2021. That is why we are coming forward with these measures today.”
Brexiteer Tory MP David Jones told the Telegraph that the proposals are “effectively blackmail” and “piratical behaviour”.
“I’m pretty sure the response the Prime Minister will give is that this country does not buckle in the face of intimidation,” he said.
Johnson met with von der Leyen in Brussels last night, with the pair agreeing to continue trade negotiations in the coming days.
They have set a new deadline of Sunday to close a deal, with the pair saying “a firm decision should be taken about the future of the talks” at this time.
This has been the latest of many Brexit trade negotiations deadlines, the last of which was meant to be Wednesday.


cityam--2020-12-10--Honda looks to restart production at Swindon plant on Monday

Japanese carmaker Honda said that it would try to restart production at its Swindon plant on Monday after a shortage of parts forced it suspend activities .
In a statement , the auto giant said : “ Production is not running today or Friday with a view to restarting on Monday.
” Read more : Honda warns of production delays at Swindon plant due to transport disruption Output was halted yesterday after transport delays at the UK ’ s ports disrupted the carmaker ’ s supply chains .
Honda operates a “ just in time ” system at the plant @ @ @ @ @ @ @ when they are needed .
Logjams have emerged across the country ’ s ports as the combination of surging demand post-lockdown and stockpiling before the end of the Brexit transition period have left hauliers and shipping firms unable to cope with the volume of goods entering the country .
A range of retailers , such as Primark , River Island , and DfS , have all warned that they are facing serious delays due to the snarl-ups .
Before the Open newsletter : Start your day with the City View podcast and key @ @ @ @ @ @ @ transition period just 21 days away , it is feared that the situation will only get worse if logistics firms also have to navigate a complex new system of customs checks .
Today the head of the British Ports Association told Yahoo Finance that the new checks could cause “ major disruption ” .
Richard Ballantyne said that the new system risked making some food supply routes “ unviable ” .
Many firms are looking to make alternative arrangements to get round the disruption , including air lifting in parts and building out @ @ @ @ @ @ @ Government offshoring customs jobs to prep UK firms for Brexit Carmaker Bentley , for example , has hired five cargo jets to fly parts to its UK factories from the EU in the event of a border chaos .
And supermarkets such as Tesco have taken to stockpiling long-lasting goods in preparation for the unknown .

Honda looks to restart production at Swindon plant on Monday
The trillion-yen investment from Honda will fund research and development initiatives, particularly looking at electrification, over the next six years.
Japanese carmaker Honda said that it would try to restart production at its Swindon plant on Monday after a shortage of parts forced it suspend activities.
In a statement, the auto giant said: “Production is not running today or Friday with a view to restarting on Monday.”
Output was halted yesterday after transport delays at the UK’s ports disrupted the carmaker’s supply chains.
Honda operates a “just in time” system at the plant, where car parts arrive as and when they are needed.
Logjams have emerged across the country’s ports as the combination of surging demand post-lockdown and stockpiling before the end of the Brexit transition period have left hauliers and shipping firms unable to cope with the volume of goods entering the country.
A range of retailers, such as Primark, River Island, and DfS, have all warned that they are facing serious delays due to the snarl-ups.
Before the Open newsletter: Start your day with the City View podcast and key market data
With the end of the transition period just 21 days away, it is feared that the situation will only get worse if logistics firms also have to navigate a complex new system of customs checks.
Today the head of the British Ports Association told Yahoo Finance that the new checks could cause “major disruption”.
Richard Ballantyne said that the new system risked making some food supply routes “unviable”.
Many firms are looking to make alternative arrangements to get round the disruption, including air lifting in parts and building out stockpiles.
Carmaker Bentley, for example, has hired five cargo jets to fly parts to its UK factories from the EU in the event of a border chaos.
And supermarkets such as Tesco have taken to stockpiling long-lasting goods in preparation for the unknown.


cityam--2020-12-11--Spending watchdog urges government to ‘stop throwing money’ at NHS Test and Trace

The UK ’ s spending watchdog has urged ministers to “ stop throwing money ” at NHS Test and Trace , after the beleaguered system last month received an extra £7bn in funding despite repeatedly failing to achieve targets .
In a scathing report on the programme ’ s performance so far , the National Audit Office ( NAO ) slammed Test and Trace for failing to deliver sufficient numbers of Covid tests within 24 hours .
Read more : NHS Test and Trace missed almost 140,000 Covid contacts last week The amount of tests being turned around within 24 @ @ @ @ @ @ @ cent , but saw a rapid deterioration to a low of 14 per cent in mid-October .
Despite targets set out in the government ’ s Operation Moonshot plans , the number of test results returned within one day was still only 38 per cent by early November .
The NAO also found that while the government had “ rapidly scaled up ” the operation from a low base , at times “ parts of the national tracing service have barely been used ” .
In May , the Department for Health and @ @ @ @ @ @ @ worth up to £720m for the provision of 18,000 call handlers .
However , the NAO found that the proportion of time the call handlers actively worked during their paid hours was just one per cent by mid-June , after reports emerged over the summer of contact tracers sitting idle with little work to do .
Meanwhile , auditors found that almost 3,000 clinical staff on the NHS Test and Trace programme spent just four per cent of their time working .
“ DHSC had no flexibility to reduce the number of call @ @ @ @ @ @ @ ran for three months , said the NAO .
“ This means substantial public resources have been spent on staff who provided minimal services in return.
” It comes after latest figures from the Office for National Statistics ( ONS ) showed that NHS Test and Trace failed to test around 56 per cent of people thought to have been infected with Covid-19 between May and November .
The app successfully traced just 32 per cent of around 2m Brits thought to have contracted coronavirus in that time .
The poor performance has @ @ @ @ @ @ @ pick up the slack by deploying council leaders to call local residents who may have come into contact with the virus .
Analysis by City A.M. last month revealed that almost two-thirds of London boroughs have departed from the national contact tracing scheme .
Redbridge and Hammersmith and Fulham in November joined a list of 21 out of 32 London boroughs that have snubbed the national system in favour of localised approaches to tackling the virus .
Baroness Dido Harding , interim executive of the Test and Trace programme , today praised the @ @ @ @ @ @ @ identifying potential Covid contacts from an average of 60 per cent last month to more than 85 per cent in the week to 2 December .
However , the major driver for the improved performance was a decision to stop making multiple phone calls to the same household in favour of using one call to communicate with all residents at one address .
The NAO noted that while the testing programme reached its target capacity of 500,000 tests a day by the end of October , it was still only utilising 68 per @ @ @ @ @ @ @ Hillier , chair of the Public Accounts Committee ( PAC ) .
lambasted the government for “ trying to reinvent the wheel ” through its ambitions for the Test and Trace programme .
“ Testing capacity has risen and it ’ s easier to get a test locally but Test and Trace ’ s performance still isn ’ t good enough , ” she said .
‘ The government needs to urgently work out what ’ s going wrong at every step of the process.Throwing more money at the problem clearly isn ’ @ @ @ @ @ @ @ Dido Harding slammed for ‘ three per cent ’ Test and Trace success rate Gareth Davies , head of the NAO , meanwhile commended the government for building and expanding testing infrastructure from scratch , but said : “ it has struggled to test and trace as many people as it has capacity to , or to reach the contacts of people testing positive quickly enough ” .
“ Test and Trace is core to the UK ’ s pandemic response , ” he added .
“ It must improve its performance with @ @ @ @ @ @ @ public and integration with local efforts to improve tracing.
” Chancellor Rishi Sunak last month unveiled a further £7bn for the contact tracing system , taking its total funding to £22bn since the start of the pandemic .
The figure means NHS Test and Trace ’ s budget is now more than the combined budgets for England ’ s police and fire services , which this year will receive £15.2bn and £3bn respectively .
The funding for the Test and Trace programme also dwarfs the amount of cash the government has allocated for @ @ @ @ @ @ @ far spent just £2.7bn on vaccines for the UK and low income countries .
Sunak yesterday topped up the vaccine spending pot by £738m — just over a tenth of that provided to NHS Test and Trace .

Spending watchdog urges government to ‘stop throwing money’ at NHS Test and Trace
The UK’s spending watchdog has urged ministers to “stop throwing money” at NHS Test and Trace, after the beleaguered system last month received an extra £7bn in funding despite repeatedly failing to achieve targets.
In a scathing report on the programme’s performance so far, the National Audit Office (NAO) slammed Test and Trace for failing to deliver sufficient numbers of Covid tests within 24 hours.
The amount of tests being turned around within 24 hours peaked in June at 93 per cent, but saw a rapid deterioration to a low of 14 per cent in mid-October.
Despite targets set out in the government’s Operation Moonshot plans, the number of test results returned within one day was still only 38 per cent by early November.
The NAO also found that while the government had “rapidly scaled up” the operation from a low base, at times “parts of the national tracing service have barely been used”.
In May, the Department for Health and Social Care (DHSC) signed contracts worth up to £720m for the provision of 18,000 call handlers.
However, the NAO found that the proportion of time the call handlers actively worked during their paid hours was just one per cent by mid-June, after reports emerged over the summer of contact tracers sitting idle with little work to do.
Meanwhile, auditors found that almost 3,000 clinical staff on the NHS Test and Trace programme spent just four per cent of their time working.
“DHSC had no flexibility to reduce the number of call handlers under the original contracts, which ran for three months, said the NAO. “This means substantial public resources have been spent on staff who provided minimal services in return.”
It comes after latest figures from the Office for National Statistics (ONS) showed that NHS Test and Trace failed to test around 56 per cent of people thought to have been infected with Covid-19 between May and November.
The app successfully traced just 32 per cent of around 2m Brits thought to have contracted coronavirus in that time.
The poor performance has forced the bulk of London boroughs to pick up the slack by deploying council leaders to call local residents who may have come into contact with the virus.
Analysis by City A.M. last month revealed that almost two-thirds of London boroughs have departed from the national contact tracing scheme.
Redbridge and Hammersmith and Fulham in November joined a list of 21 out of 32 London boroughs that have snubbed the national system in favour of localised approaches to tackling the virus.
Baroness Dido Harding, interim executive of the Test and Trace programme, today praised the scheme for upping its success rate in identifying potential Covid contacts from an average of 60 per cent last month to more than 85 per cent in the week to 2 December.
However, the major driver for the improved performance was a decision to stop making multiple phone calls to the same household in favour of using one call to communicate with all residents at one address.
The NAO noted that while the testing programme reached its target capacity of 500,000 tests a day by the end of October, it was still only utilising 68 per cent of this on average.
Meg Hillier, chair of the Public Accounts Committee (PAC). lambasted the government for “trying to reinvent the wheel” through its ambitions for the Test and Trace programme.
“Testing capacity has risen and it’s easier to get a test locally but Test and Trace’s performance still isn’t good enough,” she said. ‘The government needs to urgently work out what’s going wrong at every step of the process.Throwing more money at the problem clearly isn’t the answer.”
Gareth Davies, head of the NAO, meanwhile commended the government for building and expanding testing infrastructure from scratch, but said: “it has struggled to test and trace as many people as it has capacity to, or to reach the contacts of people testing positive quickly enough”.
“Test and Trace is core to the UK’s pandemic response,” he added. “It must improve its performance with a focus on effective engagement with the public and integration with local efforts to improve tracing.”
Chancellor Rishi Sunak last month unveiled a further £7bn for the contact tracing system, taking its total funding to £22bn since the start of the pandemic.
The figure means NHS Test and Trace’s budget is now more than the combined budgets for England’s police and fire services, which this year will receive £15.2bn and £3bn respectively.
The funding for the Test and Trace programme also dwarfs the amount of cash the government has allocated for coronavirus vaccines.
The UK has so far spent just £2.7bn on vaccines for the UK and low income countries. Sunak yesterday topped up the vaccine spending pot by £738m — just over a tenth of that provided to NHS Test and Trace.


cityam--2020-12-11--Britishvolt to build £2.6bn battery 'gigaplant' in Blyth

Start-up Britishvolt has chosen Blyth in the north-east of England to be the site of the UK ’ s first ever battery “ gigaplant ” .
The project , which will cost £2.6bn in total , is one of the largest ever investments into the region .
Around 3000 people will be employed at the plant , which will produce lithium ion batteries for electric vehicles .
Another 5,000 roles will be supported by the factory ’ s supply chain , the company said .
Construction is set to begin in summer next year , with the plant expected to @ @ @ @ @ @ @ By 2027 , it is estimated that the gigaplant will produce 300,000 batteries a year , a crucial step in the UK ’ s bid to move away from petrol and diesel cars by 2030 .
Britishvolt said that it had chosen Blyth because of its excellent transport links and access to clean , renewable energy .
Chief executive Orral Nadjari said : “ We are delighted to have secured this site in Blyth .
This is a tremendous moment both for Britishvolt and UK industry .
“ Now we can really start @ @ @ @ @ @ @ batteries for future electrified vehicles in just three years .
Before the Open newsletter : Start your day with the City View podcast and key market data “ It is crucial for the UK automotive industry and for the entire economy that we are able to power the future .
The sooner we start , the better.
” It is the single biggest investment into the north-east since Nissan set up a plant in the area in 1984 .
With the future of that site currently in doubt due to the prospect of @ @ @ @ @ @ @ event of a no-deal Brexit , today ’ s announcement is a major boost for the region .
It comes amid a push from the Conservative government to follow through on its election promise to “ level up ” the UK .
Blyth Valley was one of the so-called “ red wall ” of Labour seats that flipped to the Tories during last year ’ s election , and ministers will be looking to show that they have not forgotten about the area .
Blyth Valley MP Ian Levy said : “ There @ @ @ @ @ @ @ prospect of the UK ’ s first gigaplant on the old Blyth Power Station site directly creating up to 8000 jobs is amazing .
Read more : Britishvolt chooses Welsh site for UK ’ s first battery ‘ gigafactory ’ “ These jobs will not only return the area to the status of an industrial powerhouse but will help us retain our graduates and provide a huge boost to struggling high streets .
“ I look forward to working with all involved and will provide the backing necessary to deliver a scheme that @ @ @ @ @ @ @ .
”

Britishvolt to build £2.6bn battery ‘gigaplant’ in Blyth
An artist’s impression of what the new Blyth “gigaplant” will look like when completed. (Image: Britishvolt)
Start-up Britishvolt has chosen Blyth in the north-east of England to be the site of the UK’s first ever battery “gigaplant”.
The project, which will cost £2.6bn in total, is one of the largest ever investments into the region.
Around 3000 people will be employed at the plant, which will produce lithium ion batteries for electric vehicles.
Another 5,000 roles will be supported by the factory’s supply chain, the company said.
Construction is set to begin in summer next year, with the plant expected to produce its first batteries in 2023.
By 2027, it is estimated that the gigaplant will produce 300,000 batteries a year, a crucial step in the UK’s bid to move away from petrol and diesel cars by 2030.
Britishvolt said that it had chosen Blyth because of its excellent transport links and access to clean, renewable energy.
Chief executive Orral Nadjari said: “We are delighted to have secured this site in Blyth. This is a tremendous moment both for Britishvolt and UK industry.
“Now we can really start the hard work and begin producing lithium-ion batteries for future electrified vehicles in just three years.
Before the Open newsletter: Start your day with the City View podcast and key market data
“It is crucial for the UK automotive industry and for the entire economy that we are able to power the future. The sooner we start, the better.”
It is the single biggest investment into the north-east since Nissan set up a plant in the area in 1984.
With the future of that site currently in doubt due to the prospect of punitive tariffs on the auto industry in event of a no-deal Brexit, today’s announcement is a major boost for the region.
It comes amid a push from the Conservative government to follow through on its election promise to “level up” the UK.
Blyth Valley was one of the so-called “red wall” of Labour seats that flipped to the Tories during last year’s election, and ministers will be looking to show that they have not forgotten about the area.
Blyth Valley MP Ian Levy said: “There is still much to do but the prospect of the UK’s first gigaplant on the old Blyth Power Station site directly creating up to 8000 jobs is amazing.
“These jobs will not only return the area to the status of an industrial powerhouse but will help us retain our graduates and provide a huge boost to struggling high streets.
“I look forward to working with all involved and will provide the backing necessary to deliver a scheme that is a once in a generation opportunity.”


cityam--2020-12-10--E-scooter firm Pure Electric to open stores in Paris and Madrid in European expansion

E-scooter firm Pure Electric is set to open new stores in Paris and Madrid as part of a 20-store expansion into Europe next year .
Despite Brexit uncertainty , the Glastonbury-based business will embark on a rapid scaling up in 2021 which will see it more than double its current number of stores .
Read more : Transport for London to begin e-scooter trials in the spring The first of these new stores will open on Paris ’ Boulevard de Sebastopol – a major thoroughfare – in January .
Unlike in the UK , where e-scooters can only be used @ @ @ @ @ @ @ schemes , France legalised their use on streets in 2019 .
The other stores will be located throughout France and Spain , chief executive Paul Kimberley said .
“ Pure Electric is only two years-old but the business is going from strength to strength and we now feel it ’ s time to accelerate our plans by taking up stores in Europe .
Before the Open newsletter : Start your day with the City View podcast and key market data “ The coronavirus pandemic has made people think again about how they travel @ @ @ @ @ @ @ e-bikes to get around .
“ On Brexit we ’ ve worked with our suppliers , warehousing and shipping partners to make sure we ’ ve done everything possible to maintain business as usual .
“ We ’ re confident we ’ ll be able to supply stock to our UK and mainland European customers through any Brexit-related disruption.
” Although their use on roads is yet to be legalised , there are estimated to be between 150,000 and 200,000 electric-scooter owners in the UK .
Pure Electric currently has 16 stores in @ @ @ @ @ @ @ seventeenth near London Bridge before Christmas .
The government is currently running a number of trials of the vehicle across the country .
A London-based trial is set to begin in the spring , with all boroughs and councils able to take part .

E-scooter firm Pure Electric to open stores in Paris and Madrid in European expansion
Pure Electric will open a store in Paris as part of a 20-strong expansion into Europe next year.
E-scooter firm Pure Electric is set to open new stores in Paris and Madrid as part of a 20-store expansion into Europe next year.
Despite Brexit uncertainty, the Glastonbury-based business will embark on a rapid scaling up in 2021 which will see it more than double its current number of stores.
The first of these new stores will open on Paris’ Boulevard de Sebastopol – a major thoroughfare – in January.
Unlike in the UK, where e-scooters can only be used on roads as part of trial rental schemes, France legalised their use on streets in 2019.
The other stores will be located throughout France and Spain, chief executive Paul Kimberley said.
“Pure Electric is only two years-old but the business is going from strength to strength and we now feel it’s time to accelerate our plans by taking up stores in Europe.
Before the Open newsletter: Start your day with the City View podcast and key market data
“The coronavirus pandemic has made people think again about how they travel and many are turning to e-scooters and e-bikes to get around.
“On Brexit we’ve worked with our suppliers, warehousing and shipping partners to make sure we’ve done everything possible to maintain business as usual.
“We’re confident we’ll be able to supply stock to our UK and mainland European customers through any Brexit-related disruption.”
Although their use on roads is yet to be legalised, there are estimated to be between 150,000 and 200,000 electric-scooter owners in the UK.
Pure Electric currently has 16 stores in the country, and will open its seventeenth near London Bridge before Christmas.
The government is currently running a number of trials of the vehicle across the country.
A London-based trial is set to begin in the spring, with all boroughs and councils able to take part.


cityam--2020-12-10--Stunning Airbnb market debut drives valuation past $100bn in biggest IPO open of 2020

Shares of Airbnb soared in its stock market debut today , valuing the firm at $ 101.6bn and marking the biggest US floatation of 2020 .
Shares open at $ 146 on the Nasdaq , far above the initial public offering ( IPO ) price of $ 68 apiece .
The stock then hit a high of $ 165 , rising 142.6 per cent after the debut .
Read more : Airbnb looks set to take flight in $ 35bn float next week It has been a tricky year for Airbnb , having seen its revenues fall sharply from the @ @ @ @ @ @ @ with the likely prospect that they could take some time to bounce back , even with all of the recent optimism over a Covid-19 vaccine .
In 2019 Airbnb saw revenues of $ 4.8bn , while this year the company is unlikely to make anywhere near close to that .
Nevertheless today ’ s IPO highlights a stunning recovery for the home rental business .
Founded in 2008 as a website to take bookings for rooms during conferences , Airbnb was valued at just $ 18bn in a private fundraising round in April @ @ @ @ @ @ @ private fundraising in 2017 .
Read more : City watchdog probes Airbnb ahead of New York float At $ 146 per share , Airbnb had a market capitalisation of about $ 87.2bn , compared with Booking Holdings ’ $ 86.3bn and Marriott International ’ s $ 42.3bn .
Wall Street ’ s main indexes fell at the open on Thursday as a jump in weekly jobless claims suggested a stalling recovery in the labor market , while negotiations over fresh economic stimulus dragged on .
The Dow Jones Industrial Average fell 114.73 points @ @ @ @ @ @ @ 39,954.08 at the opening bell .
Read more : FTSE 100 edges higher as Brexit talks given Sunday deadline The S & P 500 fell 19.11 points , or 0.52 per cent , to 3,653.71 , while the Nasdaq Composite dropped 98.80 points , or 0.80 per cent , to 12,240.15 .

Stunning Airbnb market debut drives valuation past $100bn in biggest IPO open of 2020
Airbnb showed resilience despite pandemic restrictions.
Shares of Airbnb soared in its stock market debut today, valuing the firm at $101.6bn and marking the biggest US floatation of 2020.
Shares open at $146 on the Nasdaq, far above the initial public offering (IPO) price of $68 apiece. The stock then hit a high of $165, rising 142.6 per cent after the debut.
It has been a tricky year for Airbnb, having seen its revenues fall sharply from the levels seen in 2018 and 2019, with the likely prospect that they could take some time to bounce back, even with all of the recent optimism over a Covid-19 vaccine.
In 2019 Airbnb saw revenues of $4.8bn, while this year the company is unlikely to make anywhere near close to that.
Nevertheless today’s IPO highlights a stunning recovery for the home rental business. Founded in 2008 as a website to take bookings for rooms during conferences, Airbnb was valued at just $18bn in a private fundraising round in April and $31bn in its last pre-Covid-19 private fundraising in 2017.
At $146 per share, Airbnb had a market capitalisation of about $87.2bn, compared with Booking Holdings’ $86.3bn and Marriott International’s $42.3bn.
Wall Street
Wall Street’s main indexes fell at the open on Thursday as a jump in weekly jobless claims suggested a stalling recovery in the labor market, while negotiations over fresh economic stimulus dragged on.
The Dow Jones Industrial Average fell 114.73 points, or 0.38 per cent, to 39,954.08 at the opening bell.
The S&P 500 fell 19.11 points, or 0.52 per cent, to 3,653.71, while the Nasdaq Composite dropped 98.80 points, or 0.80 per cent, to 12,240.15.


cityam--2020-12-10--Boris Johnson: 'Strong possibility' now of a no-deal Brexit

Boris Johnson has said this evening that there is now a “ strong possibility ” that the UK will not strike a post-Brexit trade deal with Brussels and will leave the EU on no-deal terms .
Johnson ’ s statement comes after a meeting with European Commission President Ursula von der Leyen last night ended with both sides vowing to set a Sunday deadline for trade talks .
Read more : EU sets out plans to ensure flights and fishing are not disrupted in no-deal Brexit The pair said significant differences still remained between the two sides on fisheries and @ @ @ @ @ @ @ that the UK may be headed for a no-deal Brexit on 31 December .
The pound fell again today as fears increase about a no-deal exit .
In a recorded statement released on Twitter this evening , Johnson said : “ There is now a strong possibility , strong possibility , that we will have a solution that ’ s much more like an Australian relationship with the EU than a Canadian relationship with the EU .
Before the Open newsletter : Start your day with the City View podcast and key market @ @ @ @ @ @ @ it ’ s a bad thing .
There are plenty of ways , as I ’ ve said , that we can turn that to the advantage of both sides .
There are plenty of opportunities in the UK.
” Johnson also sent a stark warning to the UK ’ s private sector , saying that they must increase preparations for a potential no-deal Brexit .
“ Now is the time for the public and for businesses to get ready for 1 January , because believe me there ’ s going to be @ @ @ @ @ @ @ .
“ There ’ ll be change whether it ’ s a Canada-style deal or Australia-style deal.
” Brexit trade talks are at a dire stage , after seemingly little movement on key areas in the past few months .
The three biggest areas to be resolved are future EU fishing access to UK waters , business subsidy regulations as a part of level playing field talks and the overall governance of the deal .
Chief EU negotiator Michel Barnier and chief UK negotiator Lord David Frost have been wrangling over how much @ @ @ @ @ @ @ s fishing waters next year .
It has been rumoured that the UK only want the EU to keep about 20 per cent of the fish it was allocated pre-Brexit , while the EU want closer to 80 per cent .

Boris Johnson: ‘Strong possibility’ now of a no-deal Brexit
Boris Johnson has said this evening that there is now a “strong possibility” that the UK will not strike a post-Brexit trade deal with Brussels and will leave the EU on no-deal terms.
Johnson’s statement comes after a meeting with European Commission President Ursula von der Leyen last night ended with both sides vowing to set a Sunday deadline for trade talks.
The pair said significant differences still remained between the two sides on fisheries and level playing field discussions, prompting fears that the UK may be headed for a no-deal Brexit on 31 December.
The pound fell again today as fears increase about a no-deal exit.
In a recorded statement released on Twitter this evening, Johnson said: “There is now a strong possibility, strong possibility, that we will have a solution that’s much more like an Australian relationship with the EU than a Canadian relationship with the EU.
Before the Open newsletter: Start your day with the City View podcast and key market data
“That doesn’t mean it’s a bad thing. There are plenty of ways, as I’ve said, that we can turn that to the advantage of both sides. There are plenty of opportunities in the UK.”
Johnson also sent a stark warning to the UK’s private sector, saying that they must increase preparations for a potential no-deal Brexit.
“Now is the time for the public and for businesses to get ready for 1 January, because believe me there’s going to be change either way,” he said.
“There’ll be change whether it’s a Canada-style deal or Australia-style deal.”
Brexit trade talks are at a dire stage, after seemingly little movement on key areas in the past few months.
The three biggest areas to be resolved are future EU fishing access to UK waters, business subsidy regulations as a part of level playing field talks and the overall governance of the deal.
Chief EU negotiator Michel Barnier and chief UK negotiator Lord David Frost have been wrangling over how much access it retains to the UK’s fishing waters next year.
It has been rumoured that the UK only want the EU to keep about 20 per cent of the fish it was allocated pre-Brexit, while the EU want closer to 80 per cent.


cityam--2020-12-10--Boris Johnson facing legal challenge over decision not to fire Priti Patel

The FDA Union is suing Boris Johnson after he largely dismissed allegations of bullying by Home Secretary Priti Patel .
The pre-action notice letter says Johnson ’ s decision would set a “ damaging precendent which gives carte blanche to the kind of unacceptable conduct which the home secretary was found to have committed ” .
The action , which is being brought by the FDA Union , represents more than 500 senior officials and could lead to the Prime Minister ’ s decision being overruled and the investigation into Patel ’ s behaviour being made public , according to @ @ @ @ @ @ @ said in their letter : “ The prime minister , as the person responsible for regulating the civil service , should be acutely aware of these wider detrimental effects of his decision.
” The Home Secretary reportedly bullied a number of her senior officials .
The government launched an investigation into Patel ’ s behaviour , headed by Sir Alex Allan , who concluded that her actions should be classified as bullying .
Patel ’ s behaviour was said to be in breach of ministerial code , which states that : “ Harassing @ @ @ @ @ @ @ it takes place is not consistent with the code and will not be tolerated.
” Allan resigned after Johnson asked him to tone down his report .
Read more : Brexit : Boris Johnson to meet EU chief Ursula von der Leyen in Brussels TODAY

Boris Johnson facing legal challenge over decision not to fire Priti Patel
Priti Patelhas been known to take a spin on the Border Force boat
The FDA Union is suing Boris Johnson after he largely dismissed allegations of bullying by Home Secretary Priti Patel.
The pre-action notice letter says Johnson’s decision would set a “damaging precendent which gives carte blanche to the kind of unacceptable conduct which the home secretary was found to have committed”.
The action, which is being brought by the FDA Union, represents more than 500 senior officials and could lead to the Prime Minister’s decision being overruled and the investigation into Patel’s behaviour being made public, according to The Times.
Lawyers for the FDA said in their letter: “The prime minister, as the person responsible for regulating the civil service, should be acutely aware of these wider detrimental effects of his decision.”
Investigation
The Home Secretary reportedly bullied a number of her senior officials. The government launched an investigation into Patel’s behaviour, headed by Sir Alex Allan, who concluded that her actions should be classified as bullying.
Patel’s behaviour was said to be in breach of ministerial code, which states that: “Harassing, bullying or other inappropriate behaviour wherever it takes place is not consistent with the code and will not be tolerated.”
Allan resigned after Johnson asked him to tone down his report.


cityam--2020-12-10--'Don't blow it now': Matt Hancock urges caution as cases catapult in London

Health secretary Matt Hancock has urged the public not to “ blow it ” by ignoring Covid restrictions , as new infections continue to surge across London , Essex and Kent .
Speaking at a Downing Street press briefing , Hancock said the latest official figures showed “ a worrying rise in infections ” in London .
Read more : London pandemic update : How many Covid-19 infections are there in your local borough ?
The health secretary said the government faced difficult decisions over regional tier allocations , adding “ but we have to make them to keep the @ @ @ @ @ @ @ after the UK reported a further 20,964 new coronavirus cases in the past 24 hours , with London recording 4,114 new infections — its highest daily jump since the start of the pandemic .
“ This shows us this fight is not over , ” said Hancock , as he warned the country not to “ blow it now ” .
The health secretary fended off claims restrictions could be eased for New Year celebrations , telling Downing Street that a failure to adhere to local restrictions would result in tougher measures down @ @ @ @ @ @ @ pressure to place London in Tier 3 ahead of the Christmas period , after 21 out of 32 boroughs noted a rise in cases in the week to 2 December .
Latest data from Public Health England showed that London ’ s infection rate now stands at 191.8 per 100,000 — the highest in the country .
The government is set to review the current tier system on 16 December , with Hancock warning that many regions across the country face tougher restrictions .
Professor Chris Whitty added that the latest infection figures @ @ @ @ @ @ @ , but that the government would not make any new decisions regarding the tier system until next Wednesday .
Whitty said the NHS had no plans to reopen the Nightingale Hospital in London ’ s Excel Centre for the foreseeable future , though adding that the situation may change if the capital sees a further spike in hospitalisations .
Professor Kevin Fenton , London director for Public Health England , told City A.M. the capital must “ work together ” to prevent a surge in cases .
“ Covid-19 behaves like clockwork — @ @ @ @ @ @ @ , the higher the chance of us catching or spreading the virus , ” he said .
“ If we want to keep infections down , every one of us needs to remain vigilant and follow the rules as we go about shopping , eating out or meeting friends outdoors.
” “ We ’ ll need to work together to prevent a big surge in cases in London ahead of the festive period so we must all do our bit and limit the spread over the coming days and weeks.
” It comes @ @ @ @ @ @ @ bodies told City A.M. that placing London in Tier 3 would deliver a “ killer blow ” for thousands of businesses in the capital .
“ Hospitality has continued to take on a disproportionate burden to allow other parts of the economy to reopen during this crisis , ” said Kate Nicholls , chief executive of UK Hospitality .
Read more : Placing London in Tier 3 would deliver ‘ killer blow ’ for hospitality venues “ These businesses have invested significant time , effort and money to create Covid-secure spaces , and @ @ @ @ @ @ @ transmission rates down.
” Nicholls added that “ the prospect of London moving into Tier 3 would deliver a killer blow that many hospitality businesses simply wouldn ’ t recover from ” .

‘Don’t blow it now’: Matt Hancock urges caution as cases catapult in London
Health secretary Matt Hancock has urged the public not to “blow it” by ignoring Covid restrictions, as new infections continue to surge across London, Essex and Kent.
Speaking at a Downing Street press briefing, Hancock said the latest official figures showed “a worrying rise in infections” in London.
The health secretary said the government faced difficult decisions over regional tier allocations, adding “but we have to make them to keep the virus under control”.
It comes after the UK reported a further 20,964 new coronavirus cases in the past 24 hours, with London recording 4,114 new infections — its highest daily jump since the start of the pandemic.
“This shows us this fight is not over,” said Hancock, as he warned the country not to “blow it now”.
The health secretary fended off claims restrictions could be eased for New Year celebrations, telling Downing Street that a failure to adhere to local restrictions would result in tougher measures down the line.
Ministers today faced growing pressure to place London in Tier 3 ahead of the Christmas period, after 21 out of 32 boroughs noted a rise in cases in the week to 2 December.
Latest data from Public Health England showed that London’s infection rate now stands at 191.8 per 100,000 — the highest in the country.
The government is set to review the current tier system on 16 December, with Hancock warning that many regions across the country face tougher restrictions.
Professor Chris Whitty added that the latest infection figures in the capital were “concerning”, but that the government would not make any new decisions regarding the tier system until next Wednesday.
Whitty said the NHS had no plans to reopen the Nightingale Hospital in London’s Excel Centre for the foreseeable future, though adding that the situation may change if the capital sees a further spike in hospitalisations.
Professor Kevin Fenton, London director for Public Health England, told City A.M. the capital must “work together” to prevent a surge in cases.
“Covid-19 behaves like clockwork — the more contact we have with others, the higher the chance of us catching or spreading the virus,” he said. “If we want to keep infections down, every one of us needs to remain vigilant and follow the rules as we go about shopping, eating out or meeting friends outdoors.”
“We’ll need to work together to prevent a big surge in cases in London ahead of the festive period so we must all do our bit and limit the spread over the coming days and weeks.”
It comes as the UK’s leading hospitality bodies told City A.M. that placing London in Tier 3 would deliver a “killer blow” for thousands of businesses in the capital.
“Hospitality has continued to take on a disproportionate burden to allow other parts of the economy to reopen during this crisis,” said Kate Nicholls, chief executive of UK Hospitality.
Read more: Placing London in Tier 3 would deliver ‘killer blow’ for hospitality venues
“These businesses have invested significant time, effort and money to create Covid-secure spaces, and they can play a role in keeping transmission rates down.”
Nicholls added that “the prospect of London moving into Tier 3 would deliver a killer blow that many hospitality businesses simply wouldn’t recover from”.


cityam--2020-12-10--Paris experiences modest Brexit influx as thousands of professionals relocate

Around 5,000 professionals have relocated from London to Paris as a direct result of Brexit , according to a new @ @ @ @ @ French think tank Paris Europlace found that this includes 3,500 positions in the financial services @ @ @ @ @ resulting from the company transfers and expansion , has created around 2,500 additional jobs .
@ @ @ @ @ banned from EU travel from 1 January The report lists fears of visa procedures and @ @ @ @ @ European aid after Brexit as some of the major driving factors behind the move .
@ @ @ @ @ is the beating heart of the EU ’ s financial services sector , taking a @ @ @ @ @ , followed by Frankfurt who makes up 20 per cent .
Earlier it was announced @ @ @ @ @ move 200 employees to Paris by 1 January in preparation for Brexit , with 200 @ @ @ @ @ Bank of America and Goldman Sachs have also chosen Paris for their European trading platforms @ @ @ @ @ Stanley to move €100bn of assets to Frankfurt amid Brexit

Paris experiences modest Brexit influx as thousands of professionals relocate
Around 5,000 professionals have relocated from London to Paris as a direct result of Brexit, according to a new report.
A study by French think tank Paris Europlace found that this includes 3,500 positions in the financial services sector. Subsequent employment, resulting from the company transfers and expansion, has created around 2,500 additional jobs.
The report lists fears of visa procedures and the desire to benefit from European aid after Brexit as some of the major driving factors behind the move.
Together with Frankfurt, Paris is the beating heart of the EU’s financial services sector, taking a 24 per cent market share, followed by Frankfurt who makes up 20 per cent.
Earlier it was announced that JP Morgan plans to move 200 employees to Paris by 1 January in preparation for Brexit, with 200 further relocations in 2021. Bank of America and Goldman Sachs have also chosen Paris for their European trading platforms.


cityam--2020-12-10--Poor broadband can knock £40k off average London home: study

Due to the global pandemic , many people have either chosen or have been forced to work from home .
The shift out of the office and into people ’ s homes has changed the importance of factors people consider when purchasing a new property .
Now , if a house has poor broadband , it will knock the house price down by £40,000 , according to a new study .
The Eutelsat study shows that a stable broadband connection has become so important that it ’ s now seen as even more vital than a garden ( 13 per @ @ @ @ @ @ @ ( 43 percent ) , double glazing ( 35 per cent ) , or being close to a shop ( 25 per cent ) – many would even give up a bath or inside toilet in exchange for decent internet speeds .
The researchers found that poor WiFi is a concern for people in London with the intention to buy a property before the stamp duty holiday ends in March 2021 .
However , many would only consider buying a property with poor internet if it came with a discount of 18 per @ @ @ @ @ @ @ majority of people ( 80 per cent ) said homes will need to be better equipped for working from home in the future and 77 per cent argue that it ’ s unacceptable that some people in the UK are still without decent connectivity .
Read more : OBR forecasts house prices to fall next year as furlough and stamp duty holiday end “ It really is shocking that in 2020 when people are looking at new ways to live their lives , hundreds of thousands of people aren ’ t able to @ @ @ @ @ @ @ the latest news or work from home ” , commented Nicki Chapman , TV and radio broadcaster , specialising in property .
In the most expensive town in the UK , Virginia Water in Surrey , where the average asking price is £1.4m bad internet speeds could cost sellers almost £225k .

Poor broadband can knock £40k off average London home: study
Due to the global pandemic, many people have either chosen or have been forced to work from home.
The shift out of the office and into people’s homes has changed the importance of factors people consider when purchasing a new property. Now, if a house has poor broadband, it will knock the house price down by £40,000, according to a new study.
The Eutelsat study shows that a stable broadband connection has become so important that it’s now seen as even more vital than a garden (13 per cent), how a property looks (43 percent), double glazing (35 per cent), or being close to a shop (25 per cent) – many would even give up a bath or inside toilet in exchange for decent internet speeds.
The researchers found that poor WiFi is a concern for people in London with the intention to buy a property before the stamp duty holiday ends in March 2021. However, many would only consider buying a property with poor internet if it came with a discount of 18 per cent off the asking price.
The majority of people (80 per cent) said homes will need to be better equipped for working from home in the future and 77 per cent argue that it’s unacceptable that some people in the UK are still without decent connectivity.
“It really is shocking that in 2020 when people are looking at new ways to live their lives, hundreds of thousands of people aren’t able to stream the latest box-sets, look up the latest news or work from home”, commented Nicki Chapman, TV and radio broadcaster, specialising in property.
In the most expensive town in the UK, Virginia Water in Surrey, where the average asking price is £1.4m bad internet speeds could cost sellers almost £225k.


cityam--2020-12-10--Dreamland review – Margot Robbie saves this flat chase movie

The fourth film produced by Margot Robbie for her Lucky Chap Production company , the Aussie A-lister also stars in this drama set during the Great Depression .
Read more : 10 of the most popular shows of 2020 Finn Cole plays Eugene , a young man living with his family in a small rural American town .
His humdrum life is turned upside down when he finds Allison ( Robbie ) , a bank robber on the run , hiding in his parents ’ barn .
He agrees to help her escape in exchange for a big payoff , @ @ @ @ @ @ @ seeing her as a path to a more exciting life .
The film has some interesting ideas , but can never seem to quite thread everything together .
It ’ s refreshing to see a story where it ’ s a young man getting swept off his feet by a charming female criminal , with Allison often having the emotional power over her would-be accomplice .
Robbie is powerful in the lead , morphing into whatever she needs to be to get a mile further away from capture .
One of those personas @ @ @ @ @ @ @ dreams , a façade he buys into happily .
The enigmatic qualities of Robbie ’ s performance mean we ’ re never quite sure if she genuinely grows to love him on the way or , as she puts it , she ’ d “ rather be scared with you than alone ” .
Equally as intriguing is the setting of a dust bowl town .
A broken Dreamland where once everyone came in search of fortune , but now families leave in droves having given up hope .
There ’ s a @ @ @ @ @ @ @ Travis Fimmel ) , Eugene ’ s step-father , a sheriff obsessed with pursuing Allison who perhaps sees some personal redemption in her capture .
Outside of the leads , he has the most to do , becoming the cop on their tail who is hoodwinked by his own child .
While these are all interesting ideas , a lack of development means they remain sketches rather than portraits .
An ever-present narration from Eugene ’ s sister tries to fill in the gaps , but the loose ends dangle in the breeze @ @ @ @ @ @ @ relationship with her deceased partner ( Garrett Hedlund ) and the fate of Eugene ’ s father don ’ t really go anywhere .
A bathroom love scene feels sudden and awkward .
It ’ s a thin story , told slowly , ensuring that any remanence of tension disappears .
Margot Robbie puts Dreamland on her back and makes something from very little .
While this confirms her as a star you can rely on , there are better uses for her talents than this undercooked chase movie .
Dreamland is released @ @ @ @ @ @ @ December .

Dreamland review – Margot Robbie saves this flat chase movie
Margot Robbie in Dreamland
The fourth film produced by Margot Robbie for her Lucky Chap Production company, the Aussie A-lister also stars in this drama set during the Great Depression.
Finn Cole plays Eugene, a young man living with his family in a small rural American town. His humdrum life is turned upside down when he finds Allison (Robbie), a bank robber on the run, hiding in his parents’ barn. He agrees to help her escape in exchange for a big payoff, but soon becomes smitten with Allison, seeing her as a path to a more exciting life.
The film has some interesting ideas, but can never seem to quite thread everything together. It’s refreshing to see a story where it’s a young man getting swept off his feet by a charming female criminal, with Allison often having the emotional power over her would-be accomplice. Robbie is powerful in the lead, morphing into whatever she needs to be to get a mile further away from capture. One of those personas is the girl of Eugene’s dreams, a façade he buys into happily. The enigmatic qualities of Robbie’s performance mean we’re never quite sure if she genuinely grows to love him on the way or, as she puts it, she’d “rather be scared with you than alone”.
Equally as intriguing is the setting of a dust bowl town. A broken Dreamland where once everyone came in search of fortune, but now families leave in droves having given up hope. There’s a glimpse of this desperation in George (Travis Fimmel), Eugene’s step-father, a sheriff obsessed with pursuing Allison who perhaps sees some personal redemption in her capture. Outside of the leads, he has the most to do, becoming the cop on their tail who is hoodwinked by his own child.
While these are all interesting ideas, a lack of development means they remain sketches rather than portraits. An ever-present narration from Eugene’s sister tries to fill in the gaps, but the loose ends dangle in the breeze. Sub-plots such as Allison’s relationship with her deceased partner (Garrett Hedlund) and the fate of Eugene’s father don’t really go anywhere. A bathroom love scene feels sudden and awkward. It’s a thin story, told slowly, ensuring that any remanence of tension disappears.
Margot Robbie puts Dreamland on her back and makes something from very little. While this confirms her as a star you can rely on, there are better uses for her talents than this undercooked chase movie.
Dreamland is released in cinemas and on demand from 11th December.


cityam--2020-12-11--Clifford Chance bids farewell to gendered language

You may have missed it between Brexit drama and more Covid-19 news , but this week Clifford Chance announced it had ditched traditional gendered language like “ Dears Sir ” in its communications .
The move aligns it with a growing trend in the legal sector to make language less gendered .
The magic circle law firm is making efforts to develop a more inclusive culture within the firm by taking a number of steps to eliminate gendered language in its legal templates in several international jurisdictions .
Read more : Clifford Chance kicks off Magic Circle reporting season with @ @ @ @ @ @ @ Emanuel and Freshfields have already taken initial steps to remove traditional language like “ Dear Sirs , ” but Clifford Chance went one step further and removed all gendered salutations from its global English language letter template earlier this year .
Clifford Chance also hopes to create gender-neutral documents by encouraging each practice area and office to remove any gendered terms of gender specific pronouns from their templates , for example ‘ chairman ’ .
Read more : The 15-minute city : How to make London greener , cleaner , and more resilient @ @ @ @ @ @ @ clients to see how we can better advance our commitment to inclusion , ” said Clifford Chance global director of inclusion Tiernan Brady .
“ The words and language we use matter greatly .
They send a signal of our values and can have both a positive and negative impact on others and on our culture .
Removing gendered language from our communications is a subtle but impactful way of demonstrating what we stand for , and I ’ m delighted to see these steps taken in our firm.
” Read more : @ @ @ @ @ @ @ strong , with planning applications up in November By removing gendered language from legal documentation , Clifford Chance said it is helping to promote gender equality , challenge unconscious assumptions about gender roles , and help to recognise that not everyone identifies as male or female and some people are non-gendered .

Clifford Chance bids farewell to gendered language
British Land has agreed the £401m sale of West End offices.
You may have missed it between Brexit drama and more Covid-19 news, but this week Clifford Chance announced it had ditched traditional gendered language like “Dears Sir” in its communications.
The move aligns it with a growing trend in the legal sector to make language less gendered.
The magic circle law firm is making efforts to develop a more inclusive culture within the firm by taking a number of steps to eliminate gendered language in its legal templates in several international jurisdictions.
Other law firms like Quinn Emanuel and Freshfields have already taken initial steps to remove traditional language like “Dear Sirs,” but Clifford Chance went one step further and removed all gendered salutations from its global English language letter template earlier this year.
Clifford Chance also hopes to create gender-neutral documents by encouraging each practice area and office to remove any gendered terms of gender specific pronouns from their templates, for example ‘chairman’.
“We are continuously collaborating with our clients to see how we can better advance our commitment to inclusion,” said Clifford Chance global director of inclusion Tiernan Brady.
“The words and language we use matter greatly. They send a signal of our values and can have both a positive and negative impact on others and on our culture. Removing gendered language from our communications is a subtle but impactful way of demonstrating what we stand for, and I’m delighted to see these steps taken in our firm.”
By removing gendered language from legal documentation, Clifford Chance said it is helping to promote gender equality, challenge unconscious assumptions about gender roles, and help to recognise that not everyone identifies as male or female and some people are non-gendered.


cityam--2020-12-11--Breaking: Self-isolation period slashed to 10 days from Monday

The self-isolation period for contacts of people who have tested positive for coronavirus will be cut from 14 days to 10 days from Monday .
The change will also apply to people forced to quarantine after returning to the UK from high-risk countries .
Read more : Astrazeneca to test combining Covid-19 vaccine with Russia ’ s Sputnik jab It means people across the four nations who have already been self-isolating for 10 days or more will now be able to end their quarantine on Monday .
There will likely be a time-lag before the changes are implemented on the @ @ @ @ @ @ @ three days or less on the app ’ s countdown on Monday will no longer be required to adhere to the extra days in quarantine .
The self-isolation period for those who have tested positive for coronavirus is already 10 days .
The change of tack comes following concerns of low compliance rates with the current quarantine guidelines .
A scathing report published today by the National Audit Office ( NAO ) found that between 10 and 59 per cent of people comply with instructions to self-isolate .
It suggested that the high @ @ @ @ @ @ @ meant that Covid contacts were being forced to go in and out of isolation on a regular basis , leading to “ self-isolation fatigue ” .
Baroness Dido Harding this morning announced government plans to scrap the self-isolation period altogether for contacts of positive Covid cases , in favour of daily rapid flow test scheme .
Under new plans for Test and Trace , people who have been in contact with someone who tested positive with coronavirus will be contacted by phone and sent a week ’ s worth of lateral flow testing @ @ @ @ @ @ @ trialled in several schools , businesses and universities across the country .
It would see contacts test themselves at home every day for seven days , with people will be able to leave home and go about their normal lives if a test yielded a negative result .
However , the UK ’ s chief medical officers have repeatedly affirmed that the self-isolation period is “ essential to reducing the spread of Covid as it breaks the chains of transmission ” .
It comes after the NHS Test and Trace programme has come @ @ @ @ @ @ @ targets while swallowing up taxpayer money .
Read more : Test and Trace to scrap 14-day isolation period for Covid contacts Chancellor Rishi Sunak last month unveiled a further £7bn for the contact tracing system , taking its total funding to £22bn since the start of the pandemic .
The figure means NHS Test and Trace ’ s budget is now more than the combined budgets for England ’ s police and fire services , which this year will receive £15.2bn and £3bn respectively .

Breaking: Self-isolation period slashed to 10 days from Monday
The self-isolation period for contacts of people who have tested positive for coronavirus will be cut from 14 days to 10 days from Monday.
The change will also apply to people forced to quarantine after returning to the UK from high-risk countries.
It means people across the four nations who have already been self-isolating for 10 days or more will now be able to end their quarantine on Monday.
There will likely be a time-lag before the changes are implemented on the NHS Covid-19 app, meaning anyone with three days or less on the app’s countdown on Monday will no longer be required to adhere to the extra days in quarantine.
The self-isolation period for those who have tested positive for coronavirus is already 10 days.
The change of tack comes following concerns of low compliance rates with the current quarantine guidelines.
A scathing report published today by the National Audit Office (NAO) found that between 10 and 59 per cent of people comply with instructions to self-isolate.
It suggested that the high level of infection among the UK population meant that Covid contacts were being forced to go in and out of isolation on a regular basis, leading to “self-isolation fatigue”.
Baroness Dido Harding this morning announced government plans to scrap the self-isolation period altogether for contacts of positive Covid cases, in favour of daily rapid flow test scheme.
Under new plans for Test and Trace, people who have been in contact with someone who tested positive with coronavirus will be contacted by phone and sent a week’s worth of lateral flow testing devices.
The pilot scheme is being trialled in several schools, businesses and universities across the country. It would see contacts test themselves at home every day for seven days, with people will be able to leave home and go about their normal lives if a test yielded a negative result.
However, the UK’s chief medical officers have repeatedly affirmed that the self-isolation period is “essential to reducing the spread of Covid as it breaks the chains of transmission”.
It comes after the NHS Test and Trace programme has come under fire for repeatedly failing to meet targets while swallowing up taxpayer money.
Chancellor Rishi Sunak last month unveiled a further £7bn for the contact tracing system, taking its total funding to £22bn since the start of the pandemic.
The figure means NHS Test and Trace’s budget is now more than the combined budgets for England’s police and fire services, which this year will receive £15.2bn and £3bn respectively.


cityam--2020-12-11--Bank of England's decision to resume dividend pay-outs is 'deeply concerning': analysts

Analysts are deeply divided by the The Bank of England ’ s decision to allow lenders to resume dividend payments to their shareholders .
Yesterday , regulators gave the green light for banks to resume handouts after it was determined that banks were in a strong enough financial position to handle Covid and a possible no-deal Brexit .
Fran Boait , executive director of Positive Money told City AM : ” It is deeply concerning that the Bank of England is pandering to commercial banks and allowing them to prioritise shareholder pay-outs instead of supporting the Covid-19 recovery.
” “ @ @ @ @ @ @ @ March to make sure lenders were preserving capital to support struggling households and businesses across the economy .
Private banks have been lobbying to overturn this intervention ever since , proving once again that they can not be trusted to work in the public interest , even during a global pandemic , ” she added .
Read more : Bank of England can cut rates below zero , Saunders says The decision to allow the return of dividends pay-outs comes more than eight months after the Bank of England ordered lenders to scrap @ @ @ @ @ @ @ the uncertainty of the Covid crisis .
However , banks have been told that regulators will be keeping a close eye on bonus pay-outs over the coming year .
Richard Hunter , head of markets at Interactive Investor told City AM : ” It was clear from the recent third quarter reporting season that the banks were adequately capitalised and capable of returning to dividend payments.
” ” It remains to be seen whether the banks will return to such payments with all guns blazing , depending on the economic situation at that @ @ @ @ @ @ @ Hewson , chief market analyst at CMC UK was unsure about the move , he told City AM : ” The Bank of England also announced the end of its ban on UK banks paying dividends yesterday , a curious decision if a no deal Brexit is just around the corner .
If a no deal is as damaging as Andrew Bailey says it could be , surely the Bank of England would have delayed any decision on this until next month ?
” Read more : UK Banks OK to restart dividend @ @ @ @

Analysts call BoE’s move to allow dividend payouts ‘concerning’
Analysts are divided over the Bank of England’s decision to allow lenders to resume dividend payments to their shareholders.
Yesterday, regulators gave the green light for banks to resume handouts after it was determined that banks were in a strong enough financial position to handle Covid and a possible no-deal Brexit. The announcement cheered banks and investors after a tough year.
However, Fran Boait, executive director of Positive Money, said this morning that “it is deeply concerning that the Bank of England is pandering to commercial banks and allowing them to prioritise shareholder pay-outs instead of supporting the Covid-19 recovery”.
In March, the Prudential Regulation Authority (PRA) lent on banks to stop paying out dividends in March. It said they should reserve capital for lending instead, leading banks to cancel dividends worth £7.5bn.
“The Bank rightly suspended dividend payouts in March to make sure lenders were preserving capital to support struggling households and businesses across the economy,” Boait said.
Private banks have been lobbying to overturn this intervention throughout the summer. “This proves once again that they cannot be trusted to work in the public interest, even during a global pandemic,” she added.
Bonus payouts monitored
The PRA did stress yesterday it expected distributions to be sensible. It said it “will expect to be satisfied that any distributions would not create excess vulnerabilities to stress for a given bank or impede its ability or willingness to support households and businesses”.
Banks have been told that regulators will be keeping a close eye on bonus payouts over the coming year.
“It was clear from the recent third quarter reporting season that the banks were adequately capitalised and capable of returning to dividend payments,” Richard Hunter, head of markets at Interactive Investor, said.
“It remains to be seen whether the banks will return to such payments with all guns blazing, depending on the economic situation at that time,” he added.
‘A curious decision‘
Michael Hewson, chief market analyst at CMC UK, was also unsure about the move.
He said: “The end of the ban on UK banks paying dividends yesterday [is] a curious decision if a no deal Brexit is just around the corner.
“If a no deal is as damaging as Andrew Bailey says it could be, surely the Bank of England would have delayed any decision on this until next month?”


cityam--2020-12-11--The City A.M. Punter Podcast EP:30 Hong Kong International & Cheltenham

Trainer Aidan O ’ Brien looks to a trio of runners at the prestigious Hong Kong International meeting at Sha Tin racecourse on Sunday .
City AM racing editor Bill Esdaile joins Hong Kong racing expert Wally Pyrah to preview the best of the 4 Group 1 races in Hong Kong and previews some of the best action from Cheltenham this Saturday .
Hosted by Chris Barnett ‘ The Punter ’ has been City AM ’ s dedicated sports betting section for over a decade with a primary focus on horseracing .
Throughout the season ‘ The Punter ’ will @ @ @ @ @ @ @ Friday along with in-depth coverage of all the major racing festivals .
In a partnership with the Hong Kong Jockey Club , ‘ The Punter ’ also previews every midweek Wednesday Hong Kong meeting as well as all the major meetings .
Every Friday , and for all major racing Festivals , the City AM racing podcast will give you in-depth analysis of the action .
Featuring interviews with leading trainers , jockeys and owners , the podcast is hosted by well-known racing broadcaster Chris Barnett who is joined by Bill Esdaile and @ @ @ @ @ @ @ AM ’ s racing editor Bill Esdaile has written for the paper since 2008 .
He had previously written for publications including the Sporting Life , Racing Post and The Sportsman .
Each week he picks out his best bets for the weekend ’ s big racing action .
Chris Barnett has been a broadcasting specialist for over two decades , specialising in radio , video and podcast presentation and production .
Since working at SIS , Betfair Radio , Timeform Radio , Royal Ascot , Glorious Goodwood , Cheltenham Festival Radio and @ @ @ @ @ @ @ has always been at the forefront of the top sporting events , grabbing interviews with those that matter.ADVERTISING Having spent most of the last decade out in Hong Kong working as a racing expert for the Hong Kong Jockey Club , Wally has teamed up with City AM to share his expert opinions on the weekly racing action .
He picks out his best bets for the weekend ’ s Hong Kong racing action .

The City A.M. Punter Podcast EP:30 Hong Kong International & Cheltenham
Trainer Aidan O’Brien looks to a trio of runners at the prestigious Hong Kong International meeting at Sha Tin racecourse on Sunday.
City AM racing editor Bill Esdaile joins Hong Kong racing expert Wally Pyrah to preview the best of the 4 Group 1 races in Hong Kong and previews some of the best action from Cheltenham this Saturday. Hosted by Chris Barnett
The City A.M. Punter Podcast
‘The Punter’ has been City AM’s dedicated sports betting section for over a decade with a primary focus on horseracing. Throughout the season ‘The Punter’ will preview the weekend’s action every Friday along with in-depth coverage of all the major racing festivals. In a partnership with the Hong Kong Jockey Club, ‘The Punter’ also previews every midweek Wednesday Hong Kong meeting as well as all the major meetings.
Every Friday, and for all major racing Festivals, the City AM racing podcast will give you in-depth analysis of the action. Featuring interviews with leading trainers, jockeys and owners, the podcast is hosted by well-known racing broadcaster Chris Barnett who is joined by Bill Esdaile and Hong Kong racing expert Wally Pyrah
Bill Esdaile
City AM’s racing editor Bill Esdaile has written for the paper since 2008. He had previously written for publications including the Sporting Life, Racing Post and The Sportsman. Each week he picks out his best bets for the weekend’s big racing action.
Chris Barnett
Chris Barnett has been a broadcasting specialist for over two decades, specialising in radio, video and podcast presentation and production. Since working at SIS, Betfair Radio, Timeform Radio, Royal Ascot, Glorious Goodwood, Cheltenham Festival Radio and more recently, Arena Racing, Chris has always been at the forefront of the top sporting events, grabbing interviews with those that matter.ADVERTISING
Wally Pyrah
Having spent most of the last decade out in Hong Kong working as a racing expert for the Hong Kong Jockey Club, Wally has teamed up with City AM to share his expert opinions on the weekly racing action. He picks out his best bets for the weekend’s Hong Kong racing action.


cityam--2020-12-11--UK tourists banned from EU travel from 1 January

British holidaymakers will be temporarily banned from travelling to the EU on 1 January , with Brussels saying its travel exemption will be taken away after the Brexit transition period ends .
Very few non-EU or EEA countries , with low Covid rates , are allowed to travel to member states under current restrictions .
Borders are still open to UK citizens currently as the country is still in the EU ’ s single market and customs union until 31 December .
Read more : Morgan Stanley : UK bank shares could fall 20 per cent in no-deal Brexit The @ @ @ @ @ @ @ recently said there were no plans to extend the UK ’ s access on 1 January .
The UK currently has some of the highest Covid numbers in Europe .
“ This is a decision for the council to make , ” the spokersperson said .
Before the Open newsletter : Start your day with the City View podcast and key market data EU citizens living in the UK will maintain current travel rights to the continent after the Brexit transition period ends .
There will also be an exemption to the EU @ @ @ @ @ @ @ such as aid workers , diplomats , health workers , military personnel , farm workers and transport workers .
The Financial Times also reports that Norway will also ban UK citizens from entering the country from 1 January .
A UK government spokesperson said : “ We can not comment on decisions that could be taken by other states on public health matters .
“ We take a scientific , risk-based approach to health measures at the border , and it is of course in the interests of all countries to allow safe @ @ @ @ @ @ @ pandemic.
” Read more : EU sets out plans to ensure flights and fishing are not disrupted in no-deal Brexit

UK tourists banned from EU travel from 1 January
British holidaymakers will be temporarily banned from travelling to the EU on 1 January, with Brussels saying its travel exemption will be taken away after the Brexit transition period ends.
Very few non-EU or EEA countries, with low Covid rates, are allowed to travel to member states under current restrictions.
Borders are still open to UK citizens currently as the country is still in the EU’s single market and customs union until 31 December.
The Guardian reports that a European Commission spokesperson recently said there were no plans to extend the UK’s access on 1 January. The UK currently has some of the highest Covid numbers in Europe.
“This is a decision for the council to make,” the spokersperson said.
Before the Open newsletter: Start your day with the City View podcast and key market data
EU citizens living in the UK will maintain current travel rights to the continent after the Brexit transition period ends.
There will also be an exemption to the EU travel ban for some essential workers, such as aid workers, diplomats, health workers, military personnel, farm workers and transport workers.
The Financial Times also reports that Norway will also ban UK citizens from entering the country from 1 January.
A UK government spokesperson said: “We cannot comment on decisions that could be taken by other states on public health matters.
“We take a scientific, risk-based approach to health measures at the border, and it is of course in the interests of all countries to allow safe international travel as we emerge from the pandemic.”


cityam--2020-12-11--Test and Trace to scrap 14-day isolation period for Covid contacts

People who have been in contact with someone who tested positive with coronavirus will be given daily Covid tests instead of having to isolate for a fortnight under new government plans .
The Test and Trace pilot scheme is being trialled in several schools , businesses and universities across the country .
Close contacts of people with Covid-19 will be contacted by phone and sent a week ’ s worth of lateral flow testing devices .
Contacts will then need to test themselves at home every day for seven days .
If a daily test yields a negative result , @ @ @ @ @ @ @ that day and go about their normal lives .
The new scheme , announced by Boris Johnson in late November , comes following concerns about the accurateness of rapid lateral flow tests .
An article in the BMJ medical journal published last week found that the rapid tests , which do not require processing in a laboratory , were reported to have missed half of all coronavirus cases .
It comes after a report by the National Audit Office ( NAO ) published today slammed ministers for “ throwing money ” at the @ @ @ @ @ @ @ report highlighted the lack of compliance with self-isolation rules and the failure of Test and Trace to reach people fast enough as major concerns .
Read more : Spending watchdog urges government to “ stop throwing money ” at NHS Test and Trace The NAO found that between 10 and 59 per cent of people comply with instructions to self-isolate .
It suggested that the high level of infection among the UK population meant that Covid contacts were being forced to go in and out of isolation on a regular basis .
The @ @ @ @ @ @ @ address the additional strain that the reopening of schools and universities in September would put on Covid testing .
Pressure on laboratories handling tests meant the proportion of tests processed within 24 hours dropped from 90 per cent in late May to 14 per cent in mid-October .
At the end of October , only 60 per cent of contacts were being reached .
A recent change in policy whereby each household only receives a single phone call has helped improve this .
Figures released yesterday show tracers are now reaching up to @ @ @ @ @ @ @ up from 72.6 per cent a week prior .
The test processing rate has also improved , 64.9 per cent of people visiting a Covid test site receiving their result within 24 hours , though this is still far below Boris Johnson ’ s promise in June of 100 per cent .
Read more : NHS Test and Trace missed almost 140,000 Covid contacts last week Chancellor Rishi Sunak last month unveiled a further £7bn for the contact tracing system , taking its total funding to £22bn since the start of the pandemic @ @ @ @ @ @ @ Trace ’ s budget is now more than the combined budgets for England ’ s police and fire services , which this year will receive £15.2bn and £3bn respectively .
The government ’ s plan for improvements to Test and Trace over the next few months also aims to expand the role of local authorities in tracing hard-to-reach contacts , and to offer regular testing in large offices , theatres , pubs and restaurants .
The plan sets a target for contact tracers to reach 90 percent of cases and 85 percent of @ @ @ @ @ @ @

Test and Trace to scrap 14-day isolation period for Covid contacts
The government has said the government’s test and trace app has prevented around 600 coronavirus cases.
People who have been in contact with someone who tested positive with coronavirus will be given daily Covid tests instead of having to isolate for a fortnight under new government plans.
The Test and Trace pilot scheme is being trialled in several schools, businesses and universities across the country. Close contacts of people with Covid-19 will be contacted by phone and sent a week’s worth of lateral flow testing devices.
Contacts will then need to test themselves at home every day for seven days. If a daily test yields a negative result, people will be able to leave home that day and go about their normal lives.
The new scheme, announced by Boris Johnson in late November, comes following concerns about the accurateness of rapid lateral flow tests.
An article in the BMJ medical journal published last week found that the rapid tests, which do not require processing in a laboratory, were reported to have missed half of all coronavirus cases.
It comes after a report by the National Audit Office (NAO) published today slammed ministers for “throwing money” at the beleaguered Test and Trace system.
The report highlighted the lack of compliance with self-isolation rules and the failure of Test and Trace to reach people fast enough as major concerns.
Read more: Spending watchdog urges government to “stop throwing money” at NHS Test and Trace
The NAO found that between 10 and 59 per cent of people comply with instructions to self-isolate.
It suggested that the high level of infection among the UK population meant that Covid contacts were being forced to go in and out of isolation on a regular basis.
The report also noted the government failed to address the additional strain that the reopening of schools and universities in September would put on Covid testing.
Pressure on laboratories handling tests meant the proportion of tests processed within 24 hours dropped from 90 per cent in late May to 14 per cent in mid-October. At the end of October, only 60 per cent of contacts were being reached.
A recent change in policy whereby each household only receives a single phone call has helped improve this. Figures released yesterday show tracers are now reaching up to 85.7 per cent of close contacts, up from 72.6 per cent a week prior.
The test processing rate has also improved, 64.9 per cent of people visiting a Covid test site receiving their result within 24 hours, though this is still far below Boris Johnson’s promise in June of 100 per cent.
Read more: NHS Test and Trace missed almost 140,000 Covid contacts last week
Chancellor Rishi Sunak last month unveiled a further £7bn for the contact tracing system, taking its total funding to £22bn since the start of the pandemic.
The figure means NHS Test and Trace’s budget is now more than the combined budgets for England’s police and fire services, which this year will receive £15.2bn and £3bn respectively.
The government’s plan for improvements to Test and Trace over the next few months also aims to expand the role of local authorities in tracing hard-to-reach contacts, and to offer regular testing in large offices, theatres, pubs and restaurants.
The plan sets a target for contact tracers to reach 90 percent of cases and 85 percent of contacts by the end of January.


cityam--2020-12-11--German audit watchdog head faces investigation over Wirecard share trading

Head of German audit watchdog Apas Ralf Bose is facing an investigation after admitting buying and selling shares in Wirecard @ @ @ @ @ the troubled payments firm .
Bose , who has headed up German audit watchdog Apas @ @ @ @ @ former senior partner at KPMG , told a German parliamentary inquiry into the accounting scandal @ @ @ @ @ Wirecard shares in April and sold them – at a loss – the following month @ @ @ @ @ Times , at the time Apas was in confidential talks with Germany ’ s financial @ @ @ @ @ German economy minister Peter Altmaier then said Bose ’ s share deals would be investigated @ @ @ @ @ We will discuss the matter with the people involved.
” Apas is currently probing EY @ @ @ @ @ .
Following a lengthy investigation by the FT , the collapse of the payments company @ @ @ @ @ its demise became one of the biggest fraud scandals in Europe .
Wirecard collapsed after @ @ @ @ @ hole in its accounts earlier this year .

German audit watchdog head faces investigation over Wirecard share trading
Head of German audit watchdog Apas Ralf Bose is facing an investigation after admitting buying and selling shares in Wirecard while the regulator was investigating the troubled payments firm.
Bose, who has headed up German audit watchdog Apas since 2016 and is a former senior partner at KPMG, told a German parliamentary inquiry into the accounting scandal yesterday evening that he purchased Wirecard shares in April and sold them – at a loss – the following month.
According to the Financial Times, at the time Apas was in confidential talks with Germany’s financial regulator BaFin over Wirecard.
German economy minister Peter Altmaier then said Bose’s share deals would be investigated, later adding: “We will discuss the matter with the people involved.”
Apas is currently probing EY’s work on Wirecard. Following a lengthy investigation by the FT, the collapse of the payments company and the allegations connected to its demise became one of the biggest fraud scandals in Europe.
Wirecard collapsed after it disclosed a €1.9bn black hole in its accounts earlier this year.