cityam--2020-06-22--Gilead to trial  ‘inhaled’ version of coronavirus drug

Pharmaceuticals giant Gilead Sciences is set to start human trials of an inhaled version of its remdesivir antiviral drug , the company announced today .
Gilead said in an open letter that it was seeking healthy volunteers for Phase 1 trials this week , with the aim of launching human trials in August .
Remdesivir is currently administered intravenously , meaning patients can only receive it in hospital .
An inhaled version of the antiviral drug would mean patients could take it quickly and easily at home .
Gilead chairman and chief executive Daniel O ’ Day said : “ @ @ @ @ @ @ @ could represent important progress.
” “ An inhaled formulation would be given through a nebuliser , which could potentially allow for easier administration outside the hospital , at earlier stages of disease .
That could have significant implications in helping to stem the tide of the pandemic.
” Shares dipped 2.3 per cent to $ 75.67 at market close despite the news .
US regulator the Food and Drug Administration ( FDA ) last month authorised the drug for use on seriously ill Covid-19 patients , after a government study found that it @ @ @ @ @ @ @ four days — almost a third of the normal recovery time .
Gilead will now look at how the antiviral drug , which was originally developed to tackle Ebola , could be used to treat earlier stages of the virus , with people receiving it in outpatient settings .
“ Our hope is that earlier intervention could help patients avoid hospitalisation altogether , ” said O ’ Day .
The company expects to have more than 2m batches of remdesivir by the end of the year and aims for “ many millions more @ @ @ @ @ @ @ the NHS last week approved the use of common steroid dexamethasone on coronavirus patients in hospital , following “ breakthrough ” results in UK trials .
The widely-available steroid was shown to reduce death among patients on ventilators and oxygen , prompting the UK chief medical officers to recommend its use “ with immediate effect ” .
The World Health Organization ( WHO ) today called for a rapid increase in production of dexamethasone after successful UK trials .
WHO chief Tedros Adhanom Ghebreyesus said he was confident production could be ramped up @ @ @ @ @ @ @ preliminary , the recent finding that… dexamethasone has life-saving potential for critically ill Covid-19 patients gave us a much-needed reason to celebrate , ” Tedros said in a statement .
But while both dexamethasone and remdesivir may cut the risk of death for patients who have already contracted the virus , the global race for a vaccine is still in full steam .
Read more : ‘ Best news so far ’ : Matt Hancock hails steroid drug that can combat coronavirus A potential coronavirus vaccine spearheaded by Astrazeneca and the University of @ @ @ @ @ @ @ having secured a contract with the EU to provide up to 400m doses of the potential vaccine by the end of 2020 .
Pascal Soriot , chief executive of the British drugs firm , said the drug was showing promising signs in its third stage of clinical trials , and that the vaccine would likely “ protect for about a year ” .

Gilead to trial ‘inhaled’ version of coronavirus drug
Pharmaceuticals giant Gilead Sciences is set to start human trials of an inhaled version of its remdesivir antiviral drug, the company announced today.
Gilead said in an open letter that it was seeking healthy volunteers for Phase 1 trials this week, with the aim of launching human trials in August.
Remdesivir is currently administered intravenously, meaning patients can only receive it in hospital. An inhaled version of the antiviral drug would mean patients could take it quickly and easily at home.
Gilead chairman and chief executive Daniel O’Day said: “If the trials are successful, this could represent important progress.”
“An inhaled formulation would be given through a nebuliser, which could potentially allow for easier administration outside the hospital, at earlier stages of disease. That could have significant implications in helping to stem the tide of the pandemic.”
Shares dipped 2.3 per cent to $75.67 at market close despite the news.
US regulator the Food and Drug Administration (FDA) last month authorised the drug for use on seriously ill Covid-19 patients, after a government study found that it could shorten hospital recovery time by around four days — almost a third of the normal recovery time.
Gilead will now look at how the antiviral drug, which was originally developed to tackle Ebola, could be used to treat earlier stages of the virus, with people receiving it in outpatient settings.
“Our hope is that earlier intervention could help patients avoid hospitalisation altogether,” said O’Day. The company expects to have more than 2m batches of remdesivir by the end of the year and aims for “many millions more” by 2021.
It comes as the NHS last week approved the use of common steroid dexamethasone on coronavirus patients in hospital, following “breakthrough” results in UK trials.
The widely-available steroid was shown to reduce death among patients on ventilators and oxygen, prompting the UK chief medical officers to recommend its use “with immediate effect”.
The World Health Organization (WHO) today called for a rapid increase in production of dexamethasone after successful UK trials.
WHO chief Tedros Adhanom Ghebreyesus said he was confident production could be ramped up. “Although the data are still preliminary, the recent finding that… dexamethasone has life-saving potential for critically ill Covid-19 patients gave us a much-needed reason to celebrate,” Tedros said in a statement.
But while both dexamethasone and remdesivir may cut the risk of death for patients who have already contracted the virus, the global race for a vaccine is still in full steam.
A potential coronavirus vaccine spearheaded by Astrazeneca and the University of Oxford is currently leading the charge, having secured a contract with the EU to provide up to 400m doses of the potential vaccine by the end of 2020.
Pascal Soriot, chief executive of the British drugs firm, said the drug was showing promising signs in its third stage of clinical trials, and that the vaccine would likely “protect for about a year”.


cityam--2020-06-22--US suspends work visas and green cards until end of 2020

The US government will suspend certain non-immigrant work visas and extend an existing ban on certain green cards until the end of the year , the Trump administration announced today , as America gr The suspension will include H-1B visas for high-skilled workers , which are frequently used by technology companies , and H-2B visas for seasonal guest workers .
The new restrictions won ’ t apply to visa-holders already in the US .
Read more : Trump asked for China ’ s help to win 2020 election , says ex-adviser Bolton A senior government official estimated the new travel @ @ @ @ @ @ @ entering the country between now and the end of the year .
“ He is leading an ‘ American First ’ recovery and as part of that he ’ s extending and expanding the suspension of certain visas through 31 December , ” a US official said .
US President Donald Trump had previously hinted that he might extend a two-month hiatus on issuing green cards for foreign workers , sparking concern from US businesses that fresh restrictions could harm the US economy as it struggles to recover from the coronavirus crisis .
@ @ @ @ @ @ @ green cards issued annually will drop more than two thirds this year , from 1m to 300,000 .
The US has now reported more than 122,000 coronavirus-related deaths and over 2.3m confirmed cases since the beginning of the outbreak .
New clusters of infection in 29 US states have escalated concerns of a potential second wave , sending the US dollar down today and causing higher risk currencies including the Australian dollar to jump .
Read more : Trump signs executive order to reform US police It comes after days of campaign rallies @ @ @ @ @ @ @ for the upcoming presidential election in November .
Anti-immigration sentiment touted by the President was a focal point of his successful campaign at the 2016 election .
Political analysts have predicted that Trump will return to the issue this year , particularly as he limps behind Democrat rival Joe Biden in the polls .
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US suspends work visas and green cards until end of 2020
US President Donald Trump speaks during a campaign rally at the BOK Center on 20 June 2020 in Tulsa, Oklahoma
The US government will suspend certain non-immigrant work visas and extend an existing ban on certain green cards until the end of the year, the Trump administration announced today, as America gr
The suspension will include H-1B visas for high-skilled workers, which are frequently used by technology companies, and H-2B visas for seasonal guest workers. The new restrictions won’t apply to visa-holders already in the US.
A senior government official estimated the new travel restrictions will prevent around 525,000 people from entering the country between now and the end of the year.
“He is leading an ‘American First’ recovery and as part of that he’s extending and expanding the suspension of certain visas through 31 December,” a US official said.
US President Donald Trump had previously hinted that he might extend a two-month hiatus on issuing green cards for foreign workers, sparking concern from US businesses that fresh restrictions could harm the US economy as it struggles to recover from the coronavirus crisis.
Analysts have predicted that the number of green cards issued annually will drop more than two thirds this year, from 1m to 300,000.
The US has now reported more than 122,000 coronavirus-related deaths and over 2.3m confirmed cases since the beginning of the outbreak. New clusters of infection in 29 US states have escalated concerns of a potential second wave, sending the US dollar down today and causing higher risk currencies including the Australian dollar to jump.
It comes after days of campaign rallies around the US, as Trump gears for the upcoming presidential election in November.
Anti-immigration sentiment touted by the President was a focal point of his successful campaign at the 2016 election. Political analysts have predicted that Trump will return to the issue this year, particularly as he limps behind Democrat rival Joe Biden in the polls.
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cityam--2020-06-22--London coronavirus cases: How many infections are in your London borough?

The number of confirmed coronavirus cases in London hit 27,416 on 19 June , with Croydon the worst affected borough .
Figures released by Public Health England showed that the borough had recorded 1,532 confirmed Covid-19 cases as of the end of last week , while Brent has had 1,497 .
Read more : UK lockdown : Zoos and drive-in cinemas could reopen from 15 June Barnet and Bromley have recorded 1,315 and 1,291 positive tests respectively .
Southwark had the fifth most London coronavirus cases with 1,283 .
London had zero coronavirus deaths on Sunday 21 June , which @ @ @ @ @ @ @ since the beginning of the lockdown on 23 March .
The capital has had about nine per cent of the UK ’ s 305,289 confirmed cases .
The official number of people in the UK to have died of coronavirus has now reached 42,647 .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Sign up to City A.M. ’ s Midday Update newsletter , delivered to your inbox every lunchtime Data sourced from Public Health England , effective as of @ @ @ @ @ @ @ across UK It comes as the government announced on Monday that more than 2m vulnerable people will be able to leave their homes for the first time in over three months .
Advisory guidance for more than 2.2m people who are currently shielding indoors will be eased from 6 July to match that of the wider population , as virus infection rates continue to fall across the country .
Read more : Pubs and restaurants may be forced to keep register of all guests Vulnerable people will be able to meet in groups @ @ @ @ @ @ @ form “ support bubbles ” with another household , the Department of Health and Social Care said , meaning families will at last be reunited with parents and grandparents following months of lockdown .
From 1 August , shielding advice will be dropped altogether .
However , clinically vulnerable people will be encouraged to take reasonable precautions , and will retain their priority for supermarket delivery slots .
The clinically extremely vulnerable — which includes those aged 70 and over , pregnant women , and people with an underlying medical condition — have @ @ @ @ @ @ @ the lockdown was introduced on 23 March .
Speaking at the daily Number 10 press conference , health secretary Matt Hancock said he would write to each person on the shielding list , adding that the government would work closely with councils and employers to ensure a smooth transition for the clinically vulnerable .
“ My message to employers is crystal clear : please work with us to ease the transition back for shielding employees , ” he added .
“ We expect you to do the right thing.
” It comes as @ @ @ @ @ @ @ £103.7bn over April and May ’ s lockdown , as debt exceeded 100 per cent as a percentage of GDP in May for the first time in 57 years .
The current financial year to date – April to May 2020 – has already seen borrowing rocket to £103.7bn .
That is £87bn more than in the same months last year .
And UK debt rose by 20.5 percentage points to £1.95 trillion last month , an increase of £173.2 billion compared to May 2019 , the Office for National Statistics ( ONS @ @ @ @ @ @ @ Government borrowing hits record £62bn in April over coronavirus measures That saw debt hit 100.9 per cent as a percentage of GDP , exceeding 100 per cent for the first time since 1963 .
Borrowing excluding public sector banks hit £55.2bn for May alone , nine times more than the year before , and easily the highest month since records began in 1993 .

How many Covid-19 infections are there in your London borough?
London has seen a sharp drop in the number of recorded coronavirus cases over the past few days, after figures released on Friday showed the capital currently has the lowest R rate in the country.
A further 629 cases were recorded in the past 24 hours, taking the total number of positive tests in London since the start of the pandemic to 697,278.
It marks a significant drop since a record 19,871 daily cases were recorded on 29 December, as lockdown measures continue to drive down infections.
Several areas in the capital have seen case numbers drop threefold over the past fortnight, which in turn has pushed down the spread of infection.
Most boroughs in the capital now have a seven-day rate below 100 new cases per 100,000, but that figure is below 50 in some areas in central London.
Twenty-nine London borough areas, including the whole of east London which was hardest hit by the second wave, have a seven-day case rate below 100 new confirmed cases per 100,000.
Meanwhile, Southwark, Westminster, Camden, Kensington and Chelsea all recorded seven-day rates below 50. Lewisham saw the lowest case rate in the capital in the week to 24 February, with an average of 43 people infected per 100,000 population.
Meanwhile, Ealing currently has the highest case rate, with 123 cases per 100,000, followed by Hounslow at 115 and Hillingdon on 97.
Health chiefs have said all London boroughs need to get below a case rate of 100 before restrictions can begin to be lifted, starting with the reopening of schools on 8 March.
It comes after figures released last Friday showed London’s R rate remains at a best estimate of 0.6 to 0.8 — the lowest in the country, alongside the east of England and the South West.
The figure means infections may be falling anywhere between five and eight per cent each day.
However, separate figures released last week showed the percentage of people testing positive for coronavirus in London remains the highest of any English region.
Data published by the Office for National Statistics (ONS) showed around 1 in 63 Londoners were infected with the virus last week.
That compares to an estimated 1 in 80 people who contracted the virus in England as a whole in the week to 6 February, according to ONS figures.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
London coronavirus cases by borough (in alphabetical order)
Data sourced from Public Health England, accurate as of 4pm on Tuesday 2 March
Boroughs Rate of infection per 100,000 people in last 7 days Total confirmed cases since start of pandemic Barking and Dagenham 86 22,925 Barnet 75 29,569 Bexley 58 21,812 Brent 91 27,577 Bromley 48 23,857 Camden 42 13,683 Croydon 73 30,213 Ealing 123 29,807 Enfield 48 29,217 Greenwich 55 21,769 Hackney and City of London 57 21,234 Hammersmith and Fulham 76 12,564 Haringey 58 20,345 Harrow 95 19,917 Havering 65 26,383 Hillingdon 97 25,287 Hounslow 115 23,817 Islington 43 14,574 Kensington and Chelsea 43 8,643 Kingston upon Thames 47 11,764 Lambeth 49 23,625 Lewisham 39 21,226 Merton 79 15,719 Newham 61 34,574 Redbridge 72 31,965 Richmond upon Thames 55 10,430 Southwark 42 21,947 Sutton 80 15,509 Tower Hamlets 53 28,074 Waltham Forest 52 24,325 Wandsworth 63 21,377 Westminster 41 13,577
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cityam--2020-06-22--Apple WWDC 2020: Everything Apple announced

Tech giant Apple today unveiled its latest product updates at the annual WWDC developer conference , streamed online from the Steve Jobs Theater in California for the first time .
Usually a five-day , $ 1,600 event for tech developers to learn about the latest tools for making apps , the WWDC — which stands for Worldwide Developer Conference — was entirely free this year .
Apple chief executive Tim Cook kicked off the keynote on a sober note by acknowledging the recent protests that have swept across the US , and thanking health care workers for their efforts during @ @ @ @ @ @ @ of this past month are sadly not new , they have caused us to take note ” he said .
“ Throughout history , great challenges have been met with great creativity and great breakthroughs.
” Cook then handed over to colleagues to introduce the newest Apple updates being launched .
Here ’ s everything that was announced at the Apple conference : Apple announced a streamlined version of the App Library to help organise messy home screens into categories .
Similar to the Android model , apps are sorted into folders that @ @ @ @ @ @ @ ’ s learnt from Apple Watch to its main iOS software , and introducing more sophisticated widget embedding .
Widgets will now be available from the home screen .
Widgets will be draggable , will stay open in a pop-up window , and can be added to a “ smart stack ” that changes throughout the day .
“ We ’ ve completely redesigned Siri [ to be ] smarter than ever ” , Apple executives said .
Siri will have 20x more facts than just three years ago , and will be @ @ @ @ @ @ @ sourcing answers from websites across the internet .
You can now ask Siri to send an audio message , and Siri will start recording .
Perhaps the biggest update to Siri is its help with translations .
Siri translations now support new language pairs , alongside a new app called Translate , “ designed to be the best and easiest-to-use app for conversations.
” Side-by-side translations will allow people to watch real-time translations of two languages on one screen .
You can now pin messages to the top of your list , and @ @ @ @ @ @ @ s Memjoi library , including Memjois with coronavirus face coverings .
Messages will take a lot of features from Whatsapp , such as in-line replies and mentions to specific people .
Apple ’ s Maps app will feature better navigation , richer detail and more accurate information .
Apple is introducing its new Maps app to more locations , including the UK , Irealnd and Canada , and will roll out specific platforms for cycling and EV Routing .
Apple ’ s biggest new CarPlay feature is Digital Keys , which will be @ @ @ @ @ @ @ Series from next month .
Digital Keys will allow iPhone users to unlock their car with the tap of their phone and share their key with others , either giving them full or temporary access .
Apple assured the update will be secure , allowing iPhone you to turn off keys remotely via iCloud if you lose your phone .
Apple said it is working on standards with industry groups for precise spatial awareness for CarPlay .
The 12-year-old App Store will see minor updates with the new App Clips , which will @ @ @ @ @ @ @ apps that save you from having to download a full app .
For example , instead of buying something through eBay , users will be able to download the clipped webpage of something they want to buy on the site , and won ’ t have to use their credit card or to sign in to eBay — they can sign in with Apple Pay .
Apple investors appeared cheered by the new updates , with shares up 2.1 per cent to $ 357.16 on the news at 7pm .

Apple WWDC 2020: Everything Apple announced
Tech giant Apple today unveiled its latest product updates at the annual WWDC developer conference, streamed online from the Steve Jobs Theater in California for the first time.
Usually a five-day, $1,600 event for tech developers to learn about the latest tools for making apps, the WWDC — which stands for Worldwide Developer Conference — was entirely free this year.
Apple chief executive Tim Cook kicked off the keynote on a sober note by acknowledging the recent protests that have swept across the US, and thanking health care workers for their efforts during the pandemic.
“While the events of this past month are sadly not new, they have caused us to take note” he said. “Throughout history, great challenges have been met with great creativity and great breakthroughs.”
Cook then handed over to colleagues to introduce the newest Apple updates being launched. Here’s everything that was announced at the Apple conference:
iOS 14
App Library
Apple announced a streamlined version of the App Library to help organise messy home screens into categories. Similar to the Android model, apps are sorted into folders that auto-populate.
Widgets
Apple is applying what it’s learnt from Apple Watch to its main iOS software, and introducing more sophisticated widget embedding. Widgets will now be available from the home screen. Widgets will be draggable, will stay open in a pop-up window, and can be added to a “smart stack” that changes throughout the day.
Siri
“We’ve completely redesigned Siri [to be] smarter than ever”, Apple executives said. Siri will have 20x more facts than just three years ago, and will be able to process more advanced questions, sourcing answers from websites across the internet. You can now ask Siri to send an audio message, and Siri will start recording. Perhaps the biggest update to Siri is its help with translations. Siri translations now support new language pairs, alongside a new app called Translate, “designed to be the best and easiest-to-use app for conversations.” Side-by-side translations will allow people to watch real-time translations of two languages on one screen.
Messages
You can now pin messages to the top of your list, and text with new updates to Apple’s Memjoi library, including Memjois with coronavirus face coverings. Messages will take a lot of features from Whatsapp, such as in-line replies and mentions to specific people.
Maps
Apple’s Maps app will feature better navigation, richer detail and more accurate information. Apple is introducing its new Maps app to more locations, including the UK, Irealnd and Canada, and will roll out specific platforms for cycling and EV Routing.
Carplay
Apple’s biggest new CarPlay feature is Digital Keys, which will be premier exclusively with the 2021 BMW 5 Series from next month. Digital Keys will allow iPhone users to unlock their car with the tap of their phone and share their key with others, either giving them full or temporary access. Apple assured the update will be secure, allowing iPhone you to turn off keys remotely via iCloud if you lose your phone. Apple said it is working on standards with industry groups for precise spatial awareness for CarPlay.
App Store
The 12-year-old App Store will see minor updates with the new App Clips, which will enable users to download small versions of apps that save you from having to download a full app. For example, instead of buying something through eBay, users will be able to download the clipped webpage of something they want to buy on the site, and won’t have to use their credit card or to sign in to eBay — they can sign in with Apple Pay.
Apple investors appeared cheered by the new updates, with shares up 2.1 per cent to $357.16 on the news at 7pm.


cityam--2020-06-22--FTSE 100 finishes in the red amid second wave concerns

The FTSE 100 has started the week on the back foot amid growing concern over a second wave of coronavirus infections .
As markets opened , the index fell 0.94 per cent to begin the day in the red at 6,233.28 points .
Read more : Which stock markets look ‘ cheap ’ after the rapid rebound ?
However , the FTSE 100 trimmed some of its losses to finish 0.76 per cent down by the close of trading at 6,244 points .
It comes as the UK reported its lowest daily Covid-19 death toll since mid-March , with a @ @ @ @ @ @ @ Monday .
But second wave fears sparked by a flurry of new infections in Germany still hurt the FTSE 100 and other markets .
US stocks also opened sightly lower this afternoon , after a jump in new cases in the country , but made up their losses .
Over the weekend , the World Health Organisation recorded the highest one-day increase in cases thus far , with 183,000 new infections confirmed .
The surge was driven by countries such as Brazil , the US , and India , while in Germany the @ @ @ @ @ @ @ due to an outbreak at a slaughterhouse .
Germany ’ s R rate rising above one meant European stocks lost out as fears overtook traders ’ optimism of more central bank stimulus .
European markets followed the FTSE 100 down across Europe .
Germany ’ s DAX dropped 0.55 per cent to 12,262 .
In France , the CAC fell 0.6 per cent to 4,949 , while the Europe wide Stoxx fell 0.89 per cent to 3,239 .
Before the Open : Get the jump on the markets with our early morning newsletter @ @ @ @ @ @ @ as the FTSE at the open , but were still in the red initially .
However , both the Dow Jones and the S & P 500 rallied over the afternoon , standing at 0.47 per cent up and 0.54 per cent up respectively by 6.20pm UK time .
“ Fear of a second wave of cases is denting the mood today , as the so-called R-number in Germany jumps to 2.88 , US cases hit the highest level since early May , and Apple closes more stores in the US , ” @ @ @ @ @ @ @ Markets.com , said .
“ White House trade adviser Peter Navarro said the US is preparing for a second wave in the autumn .
It ’ s debatable whether the current spike in cases in some states is still part of the first wave .
“ Equity markets remain sensitive to headline risk around virus numbers , stimulus and economic data .
But we are still awaiting signs of whether the strong uptrend reasserts itself or whether we see a more serious pullback.
” Read more : Asian stocks wobble on US fears @ @ @ @ @ @ @ cruise liner operator Carnival led the slide , shedding 10 per cent at the close .
Meanwhile , British Airways owner IAG fell 4.6 per cent , and Rolls-Royce fell 4.5 per cent .
The fall came as Matt Hancock announced another partial easing of lockdown restrictions , this time for people who are shielding from the virus .
Advisory guidance for more than 2.2m people who are currently shielding indoors will be eased from 6 July to match that of the wider population .
Prime Minister Boris Johnson is also preparing to @ @ @ @ @ @ @ ’ s coronavirus lockdown for businesses tomorrow .
He is set to decide today upon reopening dates for pubs , hairdressers and restaurants as England continues to ease its lockdown .
And there are reports the two-metre social distancing gap could be scrapped for schools .
The falls also came as the Confederation of British Industry ( CBI ) reported that manufacturing remained in a deep downturn last month .
That will have come as no surprise , given that the country was still in partial lockdown in May , however the CBI @ @ @ @ @ @ @ record pace in the three months to June , exceeding the previous record from May 2020 .
Its manufacturing output gauge dropped from minus 54 per cent in May to minus 57 per cent this month .
Anna Leach , CBI deputy chief economist , said : “ The UK manufacturing sector remained in a deep downturn in June due to the ongoing COVID-19 crisis .
“ Output volumes declined at a new record pace and export order books fell to an all-time low , reflecting the significant fall in demand in the @ @ @ @ @ @ @ again hoping that this will ease somewhat in the next three months.
” AJ Bell investment director Russ Mould said “ various headwinds and tailwinds ” are buffeting the FTSE 100 .
“ On one hand there is positive news such as Spain accepting UK tourists without the need for quarantine , ” he said .
“ On the other hand , the US still seems to be struggling to contain the coronavirus and the risk of a second wave is still front of mind for many people.
” Energy , banking and @ @ @ @ @ @ @ but gold miners like Fresnillo rose as gold reached a one-month high .
Read more : Bailey : Bank of England will reverse QE before raising rates Meanwhile , the Bank of England ’ s governor Andrew Bailey today signalled he would reverse the Bank ’ s recent huge purchases of government debt before raising interest rates from their record low .
Writing for Bloomberg , Bailey said he would unwind the £745bn of bond-buying the Bank has committed to this year before hiking rates from their current low of 0.1 per cent @

FTSE 100 finishes in the red amid second wave concerns
The FTSE 100 has started the week on the back foot amid growing concern over a second wave of coronavirus infections.
As markets opened, the index fell 0.94 per cent to begin the day in the red at 6,233.28 points.
However, the FTSE 100 trimmed some of its losses to finish 0.76 per cent down by the close of trading at 6,244 points.
It comes as the UK reported its lowest daily Covid-19 death toll since mid-March, with a rise of just 15 to 42,647 on Monday.
But second wave fears sparked by a flurry of new infections in Germany still hurt the FTSE 100 and other markets.
US stocks also opened sightly lower this afternoon, after a jump in new cases in the country, but made up their losses.
Over the weekend, the World Health Organisation recorded the highest one-day increase in cases thus far, with 183,000 new infections confirmed.
The surge was driven by countries such as Brazil, the US, and India, while in Germany the ‘R’ rate rose to 2.9 due to an outbreak at a slaughterhouse.
Germany’s R rate rising above one meant European stocks lost out as fears overtook traders’ optimism of more central bank stimulus.
European markets followed the FTSE 100 down across Europe. Germany’s DAX dropped 0.55 per cent to 12,262. In France, the CAC fell 0.6 per cent to 4,949, while the Europe wide Stoxx fell 0.89 per cent to 3,239.
Before the Open: Get the jump on the markets with our early morning newsletter
US markets climb slightly
US markets did not fall as steeply as the FTSE at the open, but were still in the red initially.
However, both the Dow Jones and the S&P 500 rallied over the afternoon, standing at 0.47 per cent up and 0.54 per cent up respectively by 6.20pm UK time.
“Fear of a second wave of cases is denting the mood today, as the so-called R-number in Germany jumps to 2.88, US cases hit the highest level since early May, and Apple closes more stores in the US,” Neil Wilson, chief market analyst at Markets.com, said.
“White House trade adviser Peter Navarro said the US is preparing for a second wave in the autumn. It’s debatable whether the current spike in cases in some states is still part of the first wave.
“Equity markets remain sensitive to headline risk around virus numbers, stimulus and economic data. But we are still awaiting signs of whether the strong uptrend reasserts itself or whether we see a more serious pullback.”
In London, cruise liner operator Carnival led the slide, shedding 10 per cent at the close.
Meanwhile, British Airways owner IAG fell 4.6 per cent, and Rolls-Royce fell 4.5 per cent.
The fall came as Matt Hancock announced another partial easing of lockdown restrictions, this time for people who are shielding from the virus.
Advisory guidance for more than 2.2m people who are currently shielding indoors will be eased from 6 July to match that of the wider population.
Prime Minister Boris Johnson is also preparing to unveil the latest easing of the UK’s coronavirus lockdown for businesses tomorrow.
He is set to decide today upon reopening dates for pubs, hairdressers and restaurants as England continues to ease its lockdown.
And there are reports the two-metre social distancing gap could be scrapped for schools.
Manufacturing output ‘remarkably poor’
The falls also came as the Confederation of British Industry (CBI) reported that manufacturing remained in a deep downturn last month.
That will have come as no surprise, given that the country was still in partial lockdown in May, however the CBI said that output volumes fell at a record pace in the three months to June, exceeding the previous record from May 2020.
Its manufacturing output gauge dropped from minus 54 per cent in May to minus 57 per cent this month.
The UK #manufacturing sector remained in a deep downturn in June due to the ongoing COVID-19 crisis. Output volumes fell at a record pace in the three months to June, exceeding the previous record from May 2020 #ITS https://t.co/L9gEFq8WBq pic.twitter.com/2iC2AC2z8K — CBI Economics (@CBI_Economics) June 22, 2020
Anna Leach, CBI deputy chief economist, said: “The UK manufacturing sector remained in a deep downturn in June due to the ongoing COVID-19 crisis.
“Output volumes declined at a new record pace and export order books fell to an all-time low, reflecting the significant fall in demand in the UK and abroad.
“Firms are again hoping that this will ease somewhat in the next three months.”
FTSE 100 caught out as infections rise
AJ Bell investment director Russ Mould said “various headwinds and tailwinds” are buffeting the FTSE 100.
“On one hand there is positive news such as Spain accepting UK tourists without the need for quarantine,” he said.
“On the other hand, the US still seems to be struggling to contain the coronavirus and the risk of a second wave is still front of mind for many people.”
Energy, banking and travel stocks suffered on the FTSE 100 but gold miners like Fresnillo rose as gold reached a one-month high.
Meanwhile, the Bank of England’s governor Andrew Bailey today signalled he would reverse the Bank’s recent huge purchases of government debt before raising interest rates from their record low.
Writing for Bloomberg, Bailey said he would unwind the £745bn of bond-buying the Bank has committed to this year before hiking rates from their current low of 0.1 per cent.


cityam--2020-06-22--Brits to reunite with grandparents as government eases shielding rules

More than 2m vulnerable people will be able to leave their homes for the first time in over three months , the government said today , as Prime Minister Boris Johnson prepares to announce a wider easing of social distancing rules .
Advisory guidance for more than 2.2m people who are currently shielding indoors will be eased from 6 July to match that of the wider population , as virus infection rates continue to fall across the country .
Read more : Pubs and restaurants may be forced to keep register of all guests Vulnerable people will be able to @ @ @ @ @ @ @ people outdoors and form “ support bubbles ” with another household , the Department of Health and Social Care said today , meaning families will at last be reunited with parents and grandparents following months of lockdown .
From 1 August , shielding advice will be dropped altogether .
However , clinically vulnerable people will be encouraged to take reasonable precautions , and will retain their priority for supermarket delivery slots .
The clinically extremely vulnerable — which includes those aged 70 and over , pregnant women , and people with an underlying @ @ @ @ @ @ @ leave their homes since the lockdown was introduced on 23 March .
Speaking at the daily Number 10 press conference , health secretary Matt Hancock said he would write to each person on the shielding list , adding that the government would work closely with councils and employers to ensure a smooth transition for the clinically vulnerable .
“ My message to employers is crystal clear : please work with us to ease the transition back for shielding employees , ” he added .
“ We expect you to do the right thing.
@ @ @ @ @ @ @ evidence showed that the chances of encountering the virus in the wider community continue to decline , as the rate of infection remains at 0.7 to 0.9 across the country .
On average less than one in 1,700 in UK communities are estimated to have the virus — down from one in 500 four weeks ago .
“ The prevalence of the virus in the community is now lower and chances of getting infected are reduced , so we believe it is the right time to relax some of the advice so people @ @ @ @ @ @ @ normality once more in their daily lives , ” said deputy chief medical officer Dr Jenny Harries .
The government today said it will still commit to providing financial support for vulnerable people until the end of July , to give those shielding time to adjust to the new changes .
From August , shielding advice will be dropped altogether , the Department for Health said .
However , clinically vulnerable people will be encouraged to take reasonable precautions , and will retain their priority for supermarket delivery slots .
Health secretary Matt @ @ @ @ @ @ @ for months , saying : “ I know this has been incredibly tough…This sacrifice has been for a purpose , and I want to thank every single one of you.
” It comes as the PM prepares to announce a wide-scale easing of social distancing measures tomorrow , when he is expected to relax the two-metre rule in favour of new “ one-metre plus ” guidance , in a bid to boost the economy .
The new rule will permit the public to meet others as close as a metre away , so @ @ @ @ @ @ @ wearing a face mask or meeting outdoors .
The move is set to take effect from 4 July , and will apply to all venues including shops , restaurants , schools , offices , and parks .
Kate Nicholls , chief executive of UKHospitality , told City A.M : “ As an industry we are in urgent need of clarity and certainty for the reopening of hospitality… Restaurants , pubs , cafes and hotels will gladly welcome and embrace any opportunity to help support the wider health needs of their communities and the @ @ @ @ @ @ @ their doors to welcome people back.
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Brits to reunite with grandparents as government eases shielding rules
More than 2m vulnerable people will be able to leave their homes for the first time in over three months, the government said today, as Prime Minister Boris Johnson prepares to announce a wider easing of social distancing rules.
Advisory guidance for more than 2.2m people who are currently shielding indoors will be eased from 6 July to match that of the wider population, as virus infection rates continue to fall across the country.
Vulnerable people will be able to meet in groups of up to six people outdoors and form “support bubbles” with another household, the Department of Health and Social Care said today, meaning families will at last be reunited with parents and grandparents following months of lockdown.
From 1 August, shielding advice will be dropped altogether. However, clinically vulnerable people will be encouraged to take reasonable precautions, and will retain their priority for supermarket delivery slots.
The clinically extremely vulnerable — which includes those aged 70 and over, pregnant women, and people with an underlying medical condition — have been unable to leave their homes since the lockdown was introduced on 23 March.
Speaking at the daily Number 10 press conference, health secretary Matt Hancock said he would write to each person on the shielding list, adding that the government would work closely with councils and employers to ensure a smooth transition for the clinically vulnerable.
“My message to employers is crystal clear: please work with us to ease the transition back for shielding employees,” he added. “We expect you to do the right thing.”
It comes as the latest scientific evidence showed that the chances of encountering the virus in the wider community continue to decline, as the rate of infection remains at 0.7 to 0.9 across the country.
On average less than one in 1,700 in UK communities are estimated to have the virus — down from one in 500 four weeks ago.
“The prevalence of the virus in the community is now lower and chances of getting infected are reduced, so we believe it is the right time to relax some of the advice so people can start to regain a degree of normality once more in their daily lives,” said deputy chief medical officer Dr Jenny Harries.
The government today said it will still commit to providing financial support for vulnerable people until the end of July, to give those shielding time to adjust to the new changes.
From August, shielding advice will be dropped altogether, the Department for Health said. However, clinically vulnerable people will be encouraged to take reasonable precautions, and will retain their priority for supermarket delivery slots.
Health secretary Matt Hancock thanked those who have been shielding for months, saying: “I know this has been incredibly tough…This sacrifice has been for a purpose, and I want to thank every single one of you.”
It comes as the PM prepares to announce a wide-scale easing of social distancing measures tomorrow, when he is expected to relax the two-metre rule in favour of new “one-metre plus” guidance, in a bid to boost the economy.
The new rule will permit the public to meet others as close as a metre away, so long as they take precautions such as wearing a face mask or meeting outdoors.
The move is set to take effect from 4 July, and will apply to all venues including shops, restaurants, schools, offices, and parks.
Kate Nicholls, chief executive of UKHospitality, told City A.M: “As an industry we are in urgent need of clarity and certainty for the reopening of hospitality… Restaurants, pubs, cafes and hotels will gladly welcome and embrace any opportunity to help support the wider health needs of their communities and the objectives of government, and to open their doors to welcome people back.”
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cityam--2020-06-23--The City goes al fresco: Pavement space could be reallocated for cafes in Square Mile

The Square Mile ’ s restaurants and cafes could be given a new lease of life with al fresco dining , under new plans being drawn up by the City of London Corporation .
The CLC has announced that it will look into reallocating street space to restaurants as part of its plan to help them reopen safely after the coronavirus lockdown .
Read more : Pubs and restaurants express relief as their lockdown ends It means that deals and meals that are normally confined to deep inside the financial district ’ s upmarket restaurants and bars could move out @ @ @ @ @ @ @ lockdown all 138 Tables and Chairs Licences in the City were suspended but , as the lockdown is gradually eased , attention has turned to how the hospitality sector can reopen for business .
The government announced today that hospitality venues will be able to reopen from 4 July at the earliest .
The CLC ’ s Planning and Transportation Committee has subsequently agreed that a bespoke approach must be taken to consider the resumption of outside trading in the City while social distancing rules remain in place .
It has agreed that @ @ @ @ @ @ @ case by case review considering factors such as the width of space available , footfall of pedestrians , and what queues are likely to form for nearby shops and attractions .
Current estimates indicate just a small number of premises will initially meet the criteria , however , when social distancing guidelines are reduced to one metre , that number will increase .
The City Corporation will also explore the potential to reallocate lane space on some streets so as to make room for tables and chairs .
Alastair Moss , chair of @ @ @ @ @ @ @ know the resumption of outdoor dining will be a welcome shift , but it is vital that the return of social spaces continues to be safe for all workers , residents and visitors to the City .
Read more : Coronavirus lockdown : Al fresco dining could be allowed within weeks “ These plans will be kept under review as government legislation and guidance changes .
“ We are ready to support the safe , sustainable and gradual return of people to the City , as it again becomes the thriving world-class centre @ @ @ @

The City goes al fresco: Pavement space could be reallocated for cafes in Square Mile
The Square Mile’s restaurants and cafes could be given a new lease of life with al fresco dining, under new plans being drawn up by the City of London Corporation.
The CLC has announced that it will look into reallocating street space to restaurants as part of its plan to help them reopen safely after the coronavirus lockdown.
It means that deals and meals that are normally confined to deep inside the financial district’s upmarket restaurants and bars could move out into the open air.
Throughout the lockdown all 138 Tables and Chairs Licences in the City were suspended but, as the lockdown is gradually eased, attention has turned to how the hospitality sector can reopen for business.
The government announced today that hospitality venues will be able to reopen from 4 July at the earliest.
The CLC’s Planning and Transportation Committee has subsequently agreed that a bespoke approach must be taken to consider the resumption of outside trading in the City while social distancing rules remain in place.
It has agreed that licences will only be reinstated following a case by case review considering factors such as the width of space available, footfall of pedestrians, and what queues are likely to form for nearby shops and attractions.
Current estimates indicate just a small number of premises will initially meet the criteria, however, when social distancing guidelines are reduced to one metre, that number will increase.
The City Corporation will also explore the potential to reallocate lane space on some streets so as to make room for tables and chairs.
Alastair Moss, chair of the committee, said: “We know the resumption of outdoor dining will be a welcome shift, but it is vital that the return of social spaces continues to be safe for all workers, residents and visitors to the City.
“These plans will be kept under review as government legislation and guidance changes.
“We are ready to support the safe, sustainable and gradual return of people to the City, as it again becomes the thriving world-class centre for business.”


cityam--2020-06-23--PM: All five coronavirus tests are being met

Boris Johnson has announced that the UK has met all five coronavirus tests required to ease the lockdown , as the Prime Minister today set out his roadmap for England to ease social distancing restrictions and revitalise the economy .
In April , the Prime Minister announced five tests that had to be met before lockdown restrictions could be eased — making sure the NHS can cope with new infections , a “ sustained and consistent ’ fall in the daily death rate , the rate of infection decreasing , ensuring supplies can meet demand , and being confident a @ @ @ @ @ @ @ .
Read more : UK coronavirus deaths leap to 171 as lockdown nears end In his last daily press conference this evening , Johnson announced that the UK is now meeting all five tests , meaning the country can press ahead to the third phase of easing lockdown restrictions .
“ Based on all the data available the government is confident that all the demands of level three are being met , ” the Prime Minister said .
“ We can now make life easier for people to see more of their friends @ @ @ @ @ @ @ on their feet.
” Under level three , the virus is considered to be “ in general circulation ” , meaning the UK can now undergo a “ gradual relaxation of restrictions ” .
Approximately one in 1,700 currently have the virus , down from one in 400 a few weeks ago , while the rate of infection remains between 0.7 and 0.9 across the UK .
“ Having considered all the evidence , and while staying at two metres is preferable , we can now move to the one metre-plus model where @ @ @ @ @ @ @ .
However , he added that he would “ not hesitate to put on the hand brakes on a local or indeed national level ” if further outbreaks occur .
Parts of Germany today reentered lockdown after more than 1,000 abattoir workers contracted the virus .
Chief scientific adviser Sir Patrick Vallance today played down fears that meat posed a particular risk of carrying the virus , but added : “ Meat packing factories and food processing areas have led to several outbreaks around the world , so we have to take this @ @ @ @ @ @ @ infection rates in the UK as his cue to ease social distancing restrictions across the country , and today announced that pubs , restaurants , hotels , cinemas , art galleries and other shuttered venues will be able to reopen on 4 July .
Read more : Pubs and restaurants express relief as their lockdown ends But chief medical officer Chris Whitty warned that people will have to get used to living alongside the virus “ for a long period , ” in a signal that many businesses will not see a return @ @ @ @ @ @ @ .
“ I would be surprised and delighted if we weren ’ t in this situation through the winter and into next spring , ” said Whitty .
“ Either we wait for immunity or we wait for a vaccine , ” added Vallance .
Nightclubs , casinos and gyms have voiced their dismay at the Prime Minister ’ s decision not to permit their reopening , sparking concerns that further economic turmoil is yet to come .
The Prime Minister assured that he “ would like to go out for dinner , @ @ @ @ @ @ @ , ” and that he was working his hardest to open all businesses and activities currently shut .

PM: All five coronavirus tests are being met
Boris Johnson has announced that the UK has met all five coronavirus tests required to ease the lockdown, as the Prime Minister today set out his roadmap for England to ease social distancing restrictions and revitalise the economy.
In April, the Prime Minister announced five tests that had to be met before lockdown restrictions could be eased — making sure the NHS can cope with new infections, a “sustained and consistent’ fall in the daily death rate, the rate of infection decreasing, ensuring supplies can meet demand, and being confident a second wave would not overwhelm the NHS.
In his last daily press conference this evening, Johnson announced that the UK is now meeting all five tests, meaning the country can press ahead to the third phase of easing lockdown restrictions.
“Based on all the data available the government is confident that all the demands of level three are being met,” the Prime Minister said. “We can now make life easier for people to see more of their friends and family and businesses to get back on their feet.”
Under level three, the virus is considered to be “in general circulation”, meaning the UK can now undergo a “gradual relaxation of restrictions”.
Approximately one in 1,700 currently have the virus, down from one in 400 a few weeks ago, while the rate of infection remains between 0.7 and 0.9 across the UK.
“Having considered all the evidence, and while staying at two metres is preferable, we can now move to the one metre-plus model where possible,” the Prime Minister said.
However, he added that he would “not hesitate to put on the hand brakes on a local or indeed national level” if further outbreaks occur.
Parts of Germany today reentered lockdown after more than 1,000 abattoir workers contracted the virus. Chief scientific adviser Sir Patrick Vallance today played down fears that meat posed a particular risk of carrying the virus, but added: “Meat packing factories and food processing areas have led to several outbreaks around the world, so we have to take this particularly seriously.”
Johnson took the improved infection rates in the UK as his cue to ease social distancing restrictions across the country, and today announced that pubs, restaurants, hotels, cinemas, art galleries and other shuttered venues will be able to reopen on 4 July.
But chief medical officer Chris Whitty warned that people will have to get used to living alongside the virus “for a long period,” in a signal that many businesses will not see a return to normal life for the foreseeable future. “I would be surprised and delighted if we weren’t in this situation through the winter and into next spring,” said Whitty.
“Either we wait for immunity or we wait for a vaccine,” added Vallance.
Nightclubs, casinos and gyms have voiced their dismay at the Prime Minister’s decision not to permit their reopening, sparking concerns that further economic turmoil is yet to come.
The Prime Minister assured that he “would like to go out for dinner, get a haircut, play village cricket,” and that he was working his hardest to open all businesses and activities currently shut.


cityam--2020-06-23--Hong Kong Racing Tips: Power can add to Purton’s Total

ALTHOUGH Joao Moreira will be desperate to cut into Zac Purton ’ s lead in the jockeys ’ title race , it would be a brave man to expect the reigning champion to leave the track empty-handed .
If ever a horse looks likely to have been ear-marked for a contest , it ’ s Purton ’ s mount TOTAL POWER , who carries top-weight , in the Wong Nai Chung Gap Handicap ( 1.15pm ) .
The David Hall-trained galloper has taken time to acclimatise to conditions in Hong Kong , but has still produced several encouraging efforts over @ @ @ @ @ @ @ make his mark in the territory .
The four-year-old was a real eye-catcher when finishing strongly from an outside draw over a distance short of his best in a competitive six-furlong handicap early last month , but still finds himself down in class here .
With blinkers equipped for the first time , which he wore when placed in Listed company in Australia , and a taking recent trial , it ’ s no wonder Purton has been booked for the ride .
Anyone looking for an attractive each-way bet at long odds @ @ @ @ @ @ @ look at ARDENODE in the Shouson Hill Handicap ( 1.45pm ) over five furlongs .
This Chris So-trained five-year-old is still a maiden after 15 attempts in Hong Kong , but did show a glimmer of hope when fourth to Sky Darci two weeks ago .
Having previously won twice over this distance in France , his trainer has had to be patient with him following numerous health issues since arriving in Hong Kong .
Having dropped 22lbs in the handicap since the beginning of the season , he could now be on @ @ @ @ @ @ @ a surprise .

Hong Kong Racing Tips: Power can add to Purton’s Total
ALTHOUGH Joao Moreira will be desperate to cut into Zac Purton’s lead in the jockeys’ title race, it would be a brave man to expect the reigning champion to leave the track empty-handed.
If ever a horse looks likely to have been ear-marked for a contest, it’s Purton’s mount TOTAL POWER, who carries top-weight, in the Wong Nai Chung Gap Handicap (1.15pm).
The David Hall-trained galloper has taken time to acclimatise to conditions in Hong Kong, but has still produced several encouraging efforts over course and distance suggesting he will shortly make his mark in the territory.
The four-year-old was a real eye-catcher when finishing strongly from an outside draw over a distance short of his best in a competitive six-furlong handicap early last month, but still finds himself down in class here.
With blinkers equipped for the first time, which he wore when placed in Listed company in Australia, and a taking recent trial, it’s no wonder Purton has been booked for the ride.
Anyone looking for an attractive each-way bet at long odds during the afternoon should have a second look at ARDENODE in the Shouson Hill Handicap (1.45pm) over five furlongs.
This Chris So-trained five-year-old is still a maiden after 15 attempts in Hong Kong, but did show a glimmer of hope when fourth to Sky Darci two weeks ago.
Having previously won twice over this distance in France, his trainer has had to be patient with him following numerous health issues since arriving in Hong Kong.
Having dropped 22lbs in the handicap since the beginning of the season, he could now be on a winning mark and capable of springing a surprise.
POINTERS
Total Surprise 1.15pm Happy Valley
Ardenode (e/w) 1.45pm Happy Valley


cityam--2020-06-23--Hong Kong Racing Tips: Moreira could find Winning Method in Valley finale

WHEN Joao Moreira arrives at Happy Valley today , he will surely know this could prove a pivotal week in his efforts to wrest the jockeys ’ title back from arch-rival Zac Purton .
With a full-book of rides on the nine-race card , he has to cut into the four-winner deficit he currently trails the Australian by , especially as the inner-city track can be considered Purton ’ s home soil – having ridden 19 more winners than Moreira there this season .
The trouble is the ‘ Magic Man ’ doesn ’ t seem to be riding with @ @ @ @ @ @ @ s debatable whether he has been riding at his best in recent weeks .
A record of five wins from his last 60 rides , the majority of them being favourites , bears testament to this fact .
The Brazilian , is , of course , one of the best pilots in the world and the wheel of fortune can change in the blink of an eye .
With just seven meetings left of the Hong Kong season , one of which Moreira will miss through suspension , he will need to get @ @ @ @ @ @ @ to mount his charge for the championship .
It looks a cast iron certainty that many of his rides will be near or at the head of the market , and the progressive last-start winner Sky Darci is likely to be the shortest-priced favourite of the afternoon in the Mount Gough Handicap ( 2.15pm ) over six furlongs .
Moreira could have already got on the scoresheet earlier in the day after partnering John Size ’ s promising Sell My Sole in the opening Violet Hill Handicap ( Div I – 11.45am ) @ @ @ @ @ @ @ Choux ran out of petrol in the closing stages on his debut behind subsequent winner Yee Cheong Pegasus at Sha Tin last month , but looks sure to improve .
Another likely winner for the three-time champion could be This Is Charisma , who looks ready to win following a good effort behind Top Military in a fast-run contest earlier this month .
He looks well handicapped in the six-furlong Violet Hill Handicap ( Div 2 – 12.15pm ) .
Moreira ’ s most attractive ride of the day could be WINNING METHOD @ @ @ @ @ @ @ Handicap ( 3.50pm ) .
Danny Shum ’ s three-year-old got too far back from an outside draw last month , but flew home behind Shining Ace .
He should benefit from the expected fast early speed and looks sure to go close .

Hong Kong Racing Tips: Moreira could find Winning Method in Valley finale
WHEN Joao Moreira arrives at Happy Valley today, he will surely know this could prove a pivotal week in his efforts to wrest the jockeys’ title back from arch-rival Zac Purton.
With a full-book of rides on the nine-race card, he has to cut into the four-winner deficit he currently trails the Australian by, especially as the inner-city track can be considered Purton’s home soil – having ridden 19 more winners than Moreira there this season.
The trouble is the ‘Magic Man’ doesn’t seem to be riding with huge confidence at present and it’s debatable whether he has been riding at his best in recent weeks.
A record of five wins from his last 60 rides, the majority of them being favourites, bears testament to this fact.
The Brazilian, is, of course, one of the best pilots in the world and the wheel of fortune can change in the blink of an eye.
With just seven meetings left of the Hong Kong season, one of which Moreira will miss through suspension, he will need to get back to his best if he is to mount his charge for the championship.
It looks a cast iron certainty that many of his rides will be near or at the head of the market, and the progressive last-start winner Sky Darci is likely to be the shortest-priced favourite of the afternoon in the Mount Gough Handicap (2.15pm) over six furlongs.
Moreira could have already got on the scoresheet earlier in the day after partnering John Size’s promising Sell My Sole in the opening Violet Hill Handicap (Div I – 11.45am).
This highly rated son of Jimmy Choux ran out of petrol in the closing stages on his debut behind subsequent winner Yee Cheong Pegasus at Sha Tin last month, but looks sure to improve.
Another likely winner for the three-time champion could be This Is Charisma, who looks ready to win following a good effort behind Top Military in a fast-run contest earlier this month.
He looks well handicapped in the six-furlong Violet Hill Handicap (Div 2 – 12.15pm).
Moreira’s most attractive ride of the day could be WINNING METHOD who lines-up in the highly-competitive Magazine Gap Handicap (3.50pm).
Danny Shum’s three-year-old got too far back from an outside draw last month, but flew home behind Shining Ace.
He should benefit from the expected fast early speed and looks sure to go close.
POINTERS
Winning Method 3.50pm Happy Valley
PYRAH’S PLACEPOT PICKS
1.15pm – 1
1.45pm – 9 & 11
2.15pm – 9
2.45pm – 8 & 12
3.15pm – 3 & 12
3.50pm – 3 & 10


cityam--2020-06-23--FTSE 100 and Wall Street gain on signs of economic recovery

The FTSE 100 closed up and Wall Street posted strong gains on Tuesday afternoon after new economic data signalled that business activity across the US , UK and the Eurozone was recovering faster than expected .
Having risen steadily throughout the morning , the FTSE 100 pushed ahead in afternoon trading today as traders welcomed the most significant easing of England ’ s lockdown since it began in March .
The UK index closed 1.34 per cent up at 6,328 points .
The rise was also fuelled by US President Donald Trump ’ s denial that phase one of the @ @ @ @ @ @ @ .
Wall Street ’ s three major indices rose on Tuesday following upbeat data on the US manufacturing and services sectors .
The FTSE 100 ’ s rise came as the Prime Minister cut the two-metre gap to “ one metre-plus ” from 4 July .
Pubs , hairdressers and restaurants are set to reopen from that date .
Boris Johnson said : “ Where it is possible to keep two metres apart people should .
But where it is not we will advise people to keep a social distance of one metre-plus @ @ @ @ @ @ @ next stage of our plan to ease the lockdown.
” Johnson also outlined an expansion of social distancing restrictions to allow any two households of any size to meet “ in any setting inside or out ” .
The FTSE 250 followed the FTSE 100 up , but climbed at a slower pace , ending the session 0.49 per cent up .
Wall Street ’ s three major indexes rose on Tuesday as the pace of decline in business activity slowed , bolstering hopes that the worst of the coronavirus crisis was over @ @ @ @ @ @ @ record high this month .
The index was boosted by Apple after at least three brokerages boosted their targets for the tech giant ’ s stock a day after it announced it would use its own chips for Mac computers .
US equities were also bolstered by upbeat purchasing managers ’ index ( PMI ) readings released on Tuesday , which showed that while private sector activity declined for a fifth straight month in June , the pace of decline slowed .
The upbeat data on manufacturing and services sectors follows similar surveys @ @ @ @ @ @ @ businesses reopened after the health crisis resulted in a lockdown in mid-March .
“ Hopes of an economic rebound have helped lift market sentiment once again today , with traders disregarding ongoing fears over a potential second wave , ” said IG senior market analyst Joshua Mahoney .
“ The resilient nature of markets over recent weeks serves to provide investors with greater confidence given the fears of a localised surge in US Covid cases , ” he continued .
“ Trump ’ s claims that the rise in Covid cases is a @ @ @ @ @ @ @ some basis , and thus it makes sense to await a reversal in the current downward trajectory of deaths per capita to really start worrying , ” Mahoney added .
The FTSE 100 also responded to a positive set of PMIs predicting the UK economy will return to growth in the third quarter .
Britain ’ s manufacturing sector posted growth in June for the first time since lockdown began .
And while the UK overall remained in decline , it performed far better than its lows across April and May .
The @ @ @ @ @ @ @ s coronavirus-triggered economic downturn eased in June as some business activity resumed .
The IHS Markit/CIPS flash composite PMI jumped to 47.6 in June from 30.0 in May .
Any reading below 50 indicates a contraction .
The Eurozone posted similar economic mini-recoveries for June , as the Eurozone and UK posted four-month highs .
“ Both readings were substantially ahead of estimates , ” Spreadex financial analyst Connor Campbell said .
“ This , alongside the strong showing from the rest of Europe , and Trump ’ s anxiety-reducing US-China trade tweet @ @ @ @ @ @ @ FTSE 100 higher.
” European stocks surged ahead as France ’ s Cac added 1.85 per cent and Germany ’ s Dax leapt up 2.7 per cent .
“ The market is viewing all good news in the best possible light , while negative news is being shrugged off and I see this kind of trend continuing for the time being , ” said Chris Beauchamp , chief market analyst at IG .
Read more : Trump adviser walks back comments saying US-China trade deal is ‘ over ’ Investment firms M & @ @ @ @ @ @ @ the FTSE 100 ’ s biggest risers , adding 4.3 per cent and 6.31 per cent respectively .
Miner Evraz surged 8.19 per cent , while B & Q owner Kingfisher jumped 4.23 per cent as Johnson eased lockdown .
UK-exposed banks RBS and Lloyds also benefited as the PM sought to reopen the economy .
RBS climbed 2.53 per cent higher , while Lloyds rose 3.48 per cent .
Global markets also edged higher today after President Donald Trump said the US-China trade deal was “ fully intact ” .
Trump ’ @ @ @ @ @ @ @ from White House trade adviser Peter Navarro , who said the deal was “ over ” .
Navarro had linked a breakdown in relations in part to Washington ’ s anger over Beijing not sounding the alarm earlier about the coronavirus outbreak .
The statement prompted a selloff across global markets overnight but equities quickly recovered after Navarro said his remarks had been taken out of context .
Read more : Trump adviser walks back comments saying US-China trade deal is ‘ over ’ US futures pointed higher , with the tech-heavy Nasdaq @ @ @ @ @ @ @ The S & P 500 is set to inch 0.65 per cent up while the Dow Jones looked set to open 0.6 per cent up .
“ With relations between Washington and Beijing seemingly in tatters , concerns are understandably growing around the hard-fought phase one trade deal , ” forex trader Oanda ’ s Craig Erlam said .
“ When White House trade adviser Peter Navarro said the trade deal was over , it triggered a bit of panic in out of hours trading .
“ Thankfully there ’ s a lot @ @ @ @ @ @ @ not only was the impact short-lived , the rebound has been pretty tasty.
” Asian markets rose following Trump ’ s clarification on the state of the trade deal .
In Japan , the Nikkei 225 climbed 0.5 per cent , while Hong Kong ’ s Hang Seng added 1.02 per cent .
The Shanghai Composite index also closed in the green , gaining 0.19 per cent .
Asian stocks have rallied hard since hitting a low in March amid worries about the jolt to the global economy from the coronavirus-driven shutdown .
@ @ @ @ @ @ @ Aslam warned they could struggle to hold on to their gains “ due to geopolitical tensions that continue to simmer in the background ” .
Read more : PM to reopen cinemas , museums and galleries in England He pointed to the Trump administration putting further restrictions on four Chinese state media outlets .
“ China has halted its poultry purchase from a Tyson plant but so far the reason behind that is mainly due to Coronavirus , ” he continued .
“ But the fear is that the phase one trade deal @ @ @ @ @ @ @ especially if Trump picks up on this matter .
”

FTSE 100 and Wall Street gain on signs of economic recovery
Boris Johnson will announce the results of a review into social distancing later today
The FTSE 100 closed up and Wall Street posted strong gains on Tuesday afternoon after new economic data signalled that business activity across the US, UK and the Eurozone was recovering faster than expected.
Having risen steadily throughout the morning, the FTSE 100 pushed ahead in afternoon trading today as traders welcomed the most significant easing of England’s lockdown since it began in March.
The UK index closed 1.34 per cent up at 6,328 points. The rise was also fuelled by US President Donald Trump’s denial that phase one of the US-China trade deal negotiations were at risk.
Wall Street’s three major indices rose on Tuesday following upbeat data on the US manufacturing and services sectors.
FTSE 100 jumps as two-metre rule dropped
The FTSE 100’s rise came as the Prime Minister cut the two-metre gap to “one metre-plus” from 4 July. Pubs, hairdressers and restaurants are set to reopen from that date.
Read more: Lockdown eased: Boris Johnson cuts two-metre rule to ‘one metre-plus’
Boris Johnson said: “Where it is possible to keep two metres apart people should. But where it is not we will advise people to keep a social distance of one metre-plus.
“This vital change enables the next stage of our plan to ease the lockdown.”
Johnson also outlined an expansion of social distancing restrictions to allow any two households of any size to meet “in any setting inside or out”.
The FTSE 250 followed the FTSE 100 up, but climbed at a slower pace, ending the session 0.49 per cent up.
Wall Street indices rise across the board
Wall Street’s three major indexes rose on Tuesday as the pace of decline in business activity slowed, bolstering hopes that the worst of the coronavirus crisis was over.
The tech-heavy Nasdaq hit a fifth record high this month. The index was boosted by Apple after at least three brokerages boosted their targets for the tech giant’s stock a day after it announced it would use its own chips for Mac computers.
US equities were also bolstered by upbeat purchasing managers’ index (PMI) readings released on Tuesday, which showed that while private sector activity declined for a fifth straight month in June, the pace of decline slowed.
The upbeat data on manufacturing and services sectors follows similar surveys from Europe earlier in the day as businesses reopened after the health crisis resulted in a lockdown in mid-March.
“Hopes of an economic rebound have helped lift market sentiment once again today, with traders disregarding ongoing fears over a potential second wave,” said IG senior market analyst Joshua Mahoney.
“The resilient nature of markets over recent weeks serves to provide investors with greater confidence given the fears of a localised surge in US Covid cases,” he continued.
“Trump’s claims that the rise in Covid cases is a simply a function of increased testing has some basis, and thus it makes sense to await a reversal in the current downward trajectory of deaths per capita to really start worrying,” Mahoney added.
FTSE 100 reacts well to stronger PMIs
The FTSE 100 also responded to a positive set of PMIs predicting the UK economy will return to growth in the third quarter.
Britain’s manufacturing sector posted growth in June for the first time since lockdown began. And while the UK overall remained in decline, it performed far better than its lows across April and May.
The new data showed that the UK’s coronavirus-triggered economic downturn eased in June as some business activity resumed.
The IHS Markit/CIPS flash composite PMI jumped to 47.6 in June from 30.0 in May. Any reading below 50 indicates a contraction.
The Eurozone posted similar economic mini-recoveries for June, as the Eurozone and UK posted four-month highs.
Read more: Eurozone PMI: Coronavirus downturn slows as lockdowns ease
“Both readings were substantially ahead of estimates,” Spreadex financial analyst Connor Campbell said.
“This, alongside the strong showing from the rest of Europe, and Trump’s anxiety-reducing US-China trade tweet from overnight, helped to push the FTSE 100 higher.”
European stocks surged ahead as France’s Cac added 1.85 per cent and Germany’s Dax leapt up 2.7 per cent.
“The market is viewing all good news in the best possible light, while negative news is being shrugged off and I see this kind of trend continuing for the time being,” said Chris Beauchamp, chief market analyst at IG.
FTSE 100 risers
Read more: Trump adviser walks back comments saying US-China trade deal is ‘over’
Investment firms M&G and Standard Life Aberdeen were among the FTSE 100’s biggest risers, adding 4.3 per cent and 6.31 per cent respectively.
Miner Evraz surged 8.19 per cent, while B&Q owner Kingfisher jumped 4.23 per cent as Johnson eased lockdown.
UK-exposed banks RBS and Lloyds also benefited as the PM sought to reopen the economy. RBS climbed 2.53 per cent higher, while Lloyds rose 3.48 per cent.
Trump calms US-China trade deal fears
Global markets also edged higher today after President Donald Trump said the US-China trade deal was “fully intact”.
Trump’s comments helped clarify earlier confusing statements from White House trade adviser Peter Navarro, who said the deal was “over”. Navarro had linked a breakdown in relations in part to Washington’s anger over Beijing not sounding the alarm earlier about the coronavirus outbreak.
The statement prompted a selloff across global markets overnight but equities quickly recovered after Navarro said his remarks had been taken out of context.
Read more: Trump adviser walks back comments saying US-China trade deal is ‘over’
US futures pointed higher, with the tech-heavy Nasdaq due to climb 1.1 per cent. The S&P 500 is set to inch 0.65 per cent up while the Dow Jones looked set to open 0.6 per cent up.
“With relations between Washington and Beijing seemingly in tatters, concerns are understandably growing around the hard-fought phase one trade deal,” forex trader Oanda’s Craig Erlam said. “When White House trade adviser Peter Navarro said the trade deal was over, it triggered a bit of panic in out of hours trading.
“Thankfully there’s a lot of stimulus sloshing through the system so not only was the impact short-lived, the rebound has been pretty tasty.”
Asian stocks climb after trade deal whipsaw
Asian markets rose following Trump’s clarification on the state of the trade deal.
In Japan, the Nikkei 225 climbed 0.5 per cent, while Hong Kong’s Hang Seng added 1.02 per cent. The Shanghai Composite index also closed in the green, gaining 0.19 per cent.
Asian stocks have rallied hard since hitting a low in March amid worries about the jolt to the global economy from the coronavirus-driven shutdown.
However, Avatrade chief market analyst Naeem Aslam warned they could struggle to hold on to their gains “due to geopolitical tensions that continue to simmer in the background”.
Read more: PM to reopen cinemas, museums and galleries in England
He pointed to the Trump administration putting further restrictions on four Chinese state media outlets.
“China has halted its poultry purchase from a Tyson plant but so far the reason behind that is mainly due to Coronavirus,” he continued. “But the fear is that the phase one trade deal between the US-China could be in jeopardy especially if Trump picks up on this matter.”


cityam--2020-06-23--Pubs and restaurants express relief as their lockdown ends

Hospitality bosses have reacted with cautious optimism after Boris Johnson gave the green light for restaurants and pubs reopening on 4 July .
Industry reaction has been largely relieved this afternoon , albeit with warnings that many businesses will still need financial support from the government as they start trading again .
The Prime Minister announced this afternoon that pubs and restaurants would be able to open early next month with social distancing measures in place .
He also cut the two-metre social distancing rule to a “ one-metre plus ” rule , whereby additional measures should be taken to @ @ @ @ @ @ @ .
“ Today we can say that our long national hibernation is beginning to come to an end , ” he told MPs .
Chief Executive of UK Hospitality , Kate Nicholls , said : “ Having confirmation of the reopening date is a real boon and affords businesses some time to make the necessary preparations.
” However , she added that financial help from the government was more vital now than ever .
“ Many businesses have been closed for months with no revenue and are now facing substantial rent and PAYE @ @ @ @ @ @ @ from the Government , otherwise some of these businesses are going to go under right at the point at which they are allowed to open once again.
” “ While many venues will endeavour to reopen on 4 July , capacities will be constrained by social distancing and some may be unable to trade viably at all , so continued government support will remain crucial.
” Meanwhile , she added that reducing the two-metre social distancing rule would be “ a huge help to hospitality ” .
“ The two-metre rule would have @ @ @ @ @ @ @ 30 per cent .
“ Reduction to one-metre should see most venues able to trade at around 70 per cent of capacity , which could be the difference between failure and staying alive to see out the remainder of the crisis , particularly with added support.
” Meanwhile , Emma McClarkin , chief executive of the British Beer & Pub Association , said : “ This is an important step for us but it is just the first step on what will be a very long road to recovery for our sector .
@ @ @ @ @ @ @ given us the three weeks minimum notice we asked for to get our pubs ready for reopening , thankfully as an industry we already started our preparations to ensure our pubs were ready to open when we were given the green light .
“ We do have significant concerns over the collection and storage of personal customer data when visiting the pub .
“ We welcome the Prime Minister ’ s pledge to work with the sector to make this manageable as it poses significant logistical challenges .
We will work with Government @ @ @ @ @ @ @ for track and trace purposes.
” Martin Williams , chief executive of steak restaurant chains M and Gaucho , told City A.M. that the government ’ s track and trace system would likely hit small restaurants the hardest .
“ The small restaurants are the ones which are really going to struggle throughout this whole process .
“ If 50 per cent of their workforce is taken out after being exposed to coronavirus , it ’ s going to be a real issue for them and they may have to close.
” Moreover @ @ @ @ @ @ @ which have been deferred through the lockdown are finally due to landlords , it could spell trouble for many .
“ Unless government intervenes to support on rents [ that have been deferred over lockdown ] then small businesses will collapse come September if not before .
“ There will be a honeymoon period .
But once you get past that , how many people are going to be unemployed ?
It is a fairly bleak outlook for the next few months .
“ We ’ re very fortunate that we have good @ @ @ @ @ @ @ position where we can ride this out , but there will be a lot of restaurants who don ’ t have the cashflow to do that.
” Nick Mackenzie , Greene King chief executive said : “ It is great that we finally have the news we ’ ve all been waiting for ; a confirmed opening date for pubs and a change to social distancing from two metres to one .
“ It is a welcome relief for pub operators , our team members who want to get back to work and @ @ @ @ @ @ @ missing their local pub .
“ We now urgently need the detailed government guidelines so that we can check we have the correct measures in place to reopen safely for our team members and customers.
” Hotelier Sir Rocco Forte was not so keen on the decision to keep the rule which requires visitors from other countries or people returning to the UK from abroad to quarantine for 14 days at home .
“ Some of these moves go in the right direction , but the Government needs to lift the quarantine rules @ @ @ @ @ @ @ ridiculous , ” he said .
“ It ’ s no good just reducing the social distancing rule from two metres to one metre – that won ’ t help businesses which rely on international travellers because they simply won ’ t be coming here .
It leaves me unable to open my UK hotels because it is just not economically viable .
“ We are stopping people from coming to this country and saying that the UK is closed for business .
These rules need to be lifted straight away .
“ @ @ @ @ @ @ @ in creating bureaucracy for pubs and restaurants by requiring them to take the names and addresses of people coming onto their premises .
“ That is completely and utterly unnecessary and is going to make it difficult for them to operate efficiently if at all.
” Hundreds of brewers and pubs ‘ on the precipice ’ The Society of Independent Brewers , meanwhile , said its industry needed much more government support .
Chief executive James Calder said : “ The Prime Minister ’ s announcement today is what the nation has been @ @ @ @ @ @ @ and thousands of pubs are still on the precipice .
Many will struggle with table service only when ordering from a bar can be done safely .
“ Beer sales will not return to normal levels anytime soon , so the UK ’ s brewers need a continued support package and a clear roadmap for how they will be financially supported .
“ Government has failed to meet its own timetable , and failed to support brewers in the same way the rest of hospitality has been .
Whilst today ’ s news @ @ @ @ @ @ @ a lot more work to do yet.
” Miles Beale , chief executive of the Wine and Spirit Trade Association , said it was a “ huge relief ” .
“ It is right that opening up comes with some caution in order to protect the public and ensure that we don ’ t end up with a second spike putting us back to square one , ” he said .
Read more : Covid hits hospitality : Restaurant brands will need to go back to basics to get punters through the door @ @ @ @ @ @ @ that the hospitality sector and their suppliers are no longer in need of government support .
“ Recovery from the loss of trade over the last few months will mean that some businesses will not be able to open immediately or fully and others will take years to get themselves back on an even keel .
”

Pubs and restaurants express relief as their lockdown ends
Listed firms have tapped investors for cash to take advantage of cheap prices during the pandemic
Hospitality bosses have reacted with cautious optimism after Boris Johnson gave the green light for restaurants and pubs reopening on 4 July.
Industry reaction has been largely relieved this afternoon, albeit with warnings that many businesses will still need financial support from the government as they start trading again.
The Prime Minister announced this afternoon that pubs and restaurants would be able to open early next month with social distancing measures in place.
He also cut the two-metre social distancing rule to a “one-metre plus” rule, whereby additional measures should be taken to avoid unnecessary contact beyond the physical distance.
“Today we can say that our long national hibernation is beginning to come to an end,” he told MPs.
‘A real boon’
Chief Executive of UK Hospitality, Kate Nicholls, said: “Having confirmation of the reopening date is a real boon and affords businesses some time to make the necessary preparations.”
However, she added that financial help from the government was more vital now than ever.
“Many businesses have been closed for months with no revenue and are now facing substantial rent and PAYE bills.
“We need financial help from the Government, otherwise some of these businesses are going to go under right at the point at which they are allowed to open once again.”
“While many venues will endeavour to reopen on 4 July, capacities will be constrained by social distancing and some may be unable to trade viably at all, so continued government support will remain crucial.”
Meanwhile, she added that reducing the two-metre social distancing rule would be “a huge help to hospitality”.
“The two-metre rule would have capped capacity for most venues at around 30 per cent.
“Reduction to one-metre should see most venues able to trade at around 70 per cent of capacity, which could be the difference between failure and staying alive to see out the remainder of the crisis, particularly with added support.”
‘Long road to recovery’ for pubs
Meanwhile, Emma McClarkin, chief executive of the British Beer & Pub Association, said: “This is an important step for us but it is just the first step on what will be a very long road to recovery for our sector.
“Whilst the government hasn’t given us the three weeks minimum notice we asked for to get our pubs ready for reopening, thankfully as an industry we already started our preparations to ensure our pubs were ready to open when we were given the green light.
“We do have significant concerns over the collection and storage of personal customer data when visiting the pub.
“We welcome the Prime Minister’s pledge to work with the sector to make this manageable as it poses significant logistical challenges. We will work with Government on how we could help collect data for track and trace purposes.”
M Restaurant boss warns of track and trace impact
Martin Williams, chief executive of steak restaurant chains M and Gaucho, told City A.M. that the government’s track and trace system would likely hit small restaurants the hardest.
“The small restaurants are the ones which are really going to struggle throughout this whole process.
“If 50 per cent of their workforce is taken out after being exposed to coronavirus, it’s going to be a real issue for them and they may have to close.”
Moreover, he added, when rent payments which have been deferred through the lockdown are finally due to landlords, it could spell trouble for many.
“Unless government intervenes to support on rents [that have been deferred over lockdown] then small businesses will collapse come September if not before.
“There will be a honeymoon period. But once you get past that, how many people are going to be unemployed? It is a fairly bleak outlook for the next few months.
“We’re very fortunate that we have good cashflow and we’re in a position where we can ride this out, but there will be a lot of restaurants who don’t have the cashflow to do that.”
Green King chief urges greater clarity
Nick Mackenzie, Greene King chief executive said: “It is great that we finally have the news we’ve all been waiting for; a confirmed opening date for pubs and a change to social distancing from two metres to one.
“It is a welcome relief for pub operators, our team members who want to get back to work and of course our customers who have been missing their local pub.
“We now urgently need the detailed government guidelines so that we can check we have the correct measures in place to reopen safely for our team members and customers.”
Hotel chief demands lifting of quarantine rules
Hotelier Sir Rocco Forte was not so keen on the decision to keep the rule which requires visitors from other countries or people returning to the UK from abroad to quarantine for 14 days at home.
“Some of these moves go in the right direction, but the Government needs to lift the quarantine rules which everybody agrees are completely unnecessary and ridiculous,” he said.
“It’s no good just reducing the social distancing rule from two metres to one metre – that won’t help businesses which rely on international travellers because they simply won’t be coming here. It leaves me unable to open my UK hotels because it is just not economically viable.
“We are stopping people from coming to this country and saying that the UK is closed for business. These rules need to be lifted straight away.
“I also cannot see the sense in creating bureaucracy for pubs and restaurants by requiring them to take the names and addresses of people coming onto their premises.
“That is completely and utterly unnecessary and is going to make it difficult for them to operate efficiently if at all.”
Hundreds of brewers and pubs ‘on the precipice’
The Society of Independent Brewers, meanwhile, said its industry needed much more government support.
Chief executive James Calder said: “The Prime Minister’s announcement today is what the nation has been waiting for. But hundreds of brewers and thousands of pubs are still on the precipice. Many will struggle with table service only when ordering from a bar can be done safely.
“Beer sales will not return to normal levels anytime soon, so the UK’s brewers need a continued support package and a clear roadmap for how they will be financially supported.
“Government has failed to meet its own timetable, and failed to support brewers in the same way the rest of hospitality has been. Whilst today’s news is a positive step, we have a lot more work to do yet.”
‘A huge relief’ for wine and spirit trade
Miles Beale, chief executive of the Wine and Spirit Trade Association, said it was a “huge relief”.
“It is right that opening up comes with some caution in order to protect the public and ensure that we don’t end up with a second spike putting us back to square one,” he said.
“This welcome news does not mean that the hospitality sector and their suppliers are no longer in need of government support.
“Recovery from the loss of trade over the last few months will mean that some businesses will not be able to open immediately or fully and others will take years to get themselves back on an even keel.”
More to follow.


cityam--2020-06-23--Shell announces major restructuring to accelerate net zero push

Oil supermajor Shell will undergo a large-scale restructuring by the end of the year as the firm seeks to shift its focus to zero-carbon activities .
Reuters reported that chief executive Ben van Beurden revealed the plan in a video interview released on Shell ’ s internal website .
Read more : Shell chief : Economic recovery from Covid-19 could speed up energy transition In the video , van Beurden said that the restructuring would involve job cuts in an attempt to drive down costs , although the firm has not put a figure on the number to be made @ @ @ @ @ @ @ firm said : “ Over the coming months we will go through a comprehensive review of the company .
“ Where appropriate we will redesign our organisation to adapt to a different future and emerge stronger.
” The announcement comes after the oil giant cut its dividend for the first time since the second world war and set an aim to be carbon neutral by 2050 .
Before the Open newsletter : Start your day with the City View podcast and key market data Shell is following in the footsteps of fellow behemoth @ @ @ @ @ @ @ it would cut 10,000 jobs as part of its own major restructure .
Italian giant Eni is also planning an overhaul of its operations .
The coronavirus crisis has battered the world ’ s oil firms , with a near total collapse in demand sending prices down and prompting companies to accelerate their plans for the so-called energy transition .
Earlier this year van Beurden said that the pandemic could accelerate the shift to net zero emission fuels .
Read more : BP set to axe 10,000 jobs due to coronavirus Speaking as @ @ @ @ @ @ @ , he said that Shell had tried to protect its new energies business from spending cuts , saying it wanted to be “ well positioned ” for the coming transition .
As a result of collapsed demand for fuel , the firm has elected to cut its capital spending from $ 25bn to $ 20bn and to cut its dividend by two-thirds to 16 cents .

Shell announces major restructuring to accelerate net zero push
Ben van Beurden today announced that Shell would bump up its dividend after a successful quarter.
Oil supermajor Shell will undergo a large-scale restructuring by the end of the year as the firm seeks to shift its focus to zero-carbon activities.
Reuters reported that chief executive Ben van Beurden revealed the plan in a video interview released on Shell’s internal website.
In the video, van Beurden said that the restructuring would involve job cuts in an attempt to drive down costs, although the firm has not put a figure on the number to be made redundant.
In a statement, the firm said: “Over the coming months we will go through a comprehensive review of the company.
“Where appropriate we will redesign our organisation to adapt to a different future and emerge stronger.”
The announcement comes after the oil giant cut its dividend for the first time since the second world war and set an aim to be carbon neutral by 2050.
Before the Open newsletter: Start your day with the City View podcast and key market data
Shell is following in the footsteps of fellow behemoth BP, which earlier this month announced it would cut 10,000 jobs as part of its own major restructure.
Italian giant Eni is also planning an overhaul of its operations.
The coronavirus crisis has battered the world’s oil firms, with a near total collapse in demand sending prices down and prompting companies to accelerate their plans for the so-called energy transition.
Earlier this year van Beurden said that the pandemic could accelerate the shift to net zero emission fuels.
Speaking as the firm announced its first quarter results, he said that Shell had tried to protect its new energies business from spending cuts, saying it wanted to be “well positioned” for the coming transition.
As a result of collapsed demand for fuel, the firm has elected to cut its capital spending from $25bn to $20bn and to cut its dividend by two-thirds to 16 cents.


cityam--2020-06-23--UK coronavirus deaths leap to 171 as lockdown nears end

A further 171 people have died in the UK after contracting coronavirus , taking the total number of deaths to 42,927 .
The figure represents a disappointing return to levels seen last week , following yesterday ’ s announcement of 15 fatalities , marking the lowest daily death toll since lockdown began Read more : Number 10 will no longer hold daily coronavirus briefings More than 237,000 tests were distributed in the UK yesterday , with 874 coming back positive , the Department for Health said .
The latest update from the Department of Health and Social Care includes coronavirus-related @ @ @ @ @ @ @ homes , and the wider community .
The government figures do not include all deaths involving coronavirus across the UK – which is thought to have passed 54,000 according to data from the Office for National Statistics .
Of the latest reported deaths in the UK , 46 occurred in hospitals in England .
The south West of the UK was the only region to report no deaths in the latest figures , while London hospitals reported two fatalities .
Scotland reported a further four deaths from coronavirus , bringing the total death @ @ @ @ @ @ @ five more people had died from coronavirus in the last 24 hours , bringing the Welsh death toll to 1,483 .
It comes as the Prime Minister today set out his roadmap to reopening the bulk of British businesses on 4 July .
Boris Johnson said a dramatic fall in the rate of infection means “ we can now safely ease the lockdown in England ” .
However , he warned that the government will not hesitate to put the apply the brakes if the the number of infections start to rise .
@ @ @ @ @ @ @ relief as their lockdown ends Parts of Germany reentered lockdown today , weeks after nationwide restrictions were lifted , after more than 1,000 abattoir workers tested positive for the virus .
Meanwhile authorities in South Korea yesterday said the country is experiencing a second wave of the coronavirus in and around the capital city of Seoul , sparking fears of resurgence around cities beginning to emerge from lockdown .
Before the Open : Get the jump on the markets with our early morning newsletter

UK coronavirus deaths leap to 171 as lockdown nears end
A further 171 people have died in the UK after contracting coronavirus, taking the total number of deaths to 42,927.
The figure represents a disappointing return to levels seen last week, following yesterday’s announcement of 15 fatalities, marking the lowest daily death toll since lockdown began
More than 237,000 tests were distributed in the UK yesterday, with 874 coming back positive, the Department for Health said.
The latest update from the Department of Health and Social Care includes coronavirus-related deaths that occurred in hospitals, care homes, and the wider community.
The government figures do not include all deaths involving coronavirus across the UK – which is thought to have passed 54,000 according to data from the Office for National Statistics.
Of the latest reported deaths in the UK, 46 occurred in hospitals in England.
The south West of the UK was the only region to report no deaths in the latest figures, while London hospitals reported two fatalities.
Scotland reported a further four deaths from coronavirus, bringing the total death toll to 2,476, while Wales confirmed five more people had died from coronavirus in the last 24 hours, bringing the Welsh death toll to 1,483.
It comes as the Prime Minister today set out his roadmap to reopening the bulk of British businesses on 4 July.
Boris Johnson said a dramatic fall in the rate of infection means “we can now safely ease the lockdown in England”. However, he warned that the government will not hesitate to put the apply the brakes if the the number of infections start to rise.
Parts of Germany reentered lockdown today, weeks after nationwide restrictions were lifted, after more than 1,000 abattoir workers tested positive for the virus.
Meanwhile authorities in South Korea yesterday said the country is experiencing a second wave of the coronavirus in and around the capital city of Seoul, sparking fears of resurgence around cities beginning to emerge from lockdown.
Before the Open: Get the jump on the markets with our early morning newsletter