cityam--2020-08-27--Sir Graham Brady calls on ministers to get workers back to the office

An influential senior Tory MP has urged the government to give workers a “ clear and consistent message ” that it is safe to return to the office .
Sir Graham Brady , the chair of the 1922 committee of backbench Conservatives , said that if ministers did not do so there would be “ devastating consequences ” for the country ’ s towns and cities .
Read more : UK firms must return to the office to revive the economy , says CBI boss Speaking to the Times , Brady said : “ Of course there are some businesses @ @ @ @ @ @ @ productive working from home .
“ What is essential is that the government gives a clear and consistent message that is perfectly safe for people to return to town .
“ They should not be worried about infections as a result of travelling on trains and buses .
“ We can all see the devastating consequences for many businesses when a huge proportion of the customers on whom they depend simply aren ’ t coming into our towns and cities ” , he finished .
Earlier this week , Boris Johnson ’ s @ @ @ @ @ @ @ individual employers to decide whether to bring back employees , refusing to say if the PM supports growing calls for people to return to work .
The comments came in stark contrast with the Johnson ’ s own words earlier this month when he called for people to have “ confidence ” to return to the workplace .
Before the Open newsletter : Start your day with the City View podcast and key market data Brady ’ s is the latest voice to join a rising crowd of those calling for the Prime @ @ @ @ @ @ @ back to their places of work .
This morning , Dame Carolyn Fairburn , the head of the CBI , warned that the country ’ s centres of commerce could become permanent “ ghost towns ” if the issue was not addressed imminently .
Writing in the Daily Mail , Fairburn said that the return of office workers was as important as the return of school pupils .
“ The costs of office closure are becoming clearer by the day .
Some of our busiest city centres resemble ghost towns , missing the @ @ @ @ @ @ @ comes at a high price for local businesses , jobs and communities ” , she wrote .
London ’ s mayor Sadiq Khan has also called for a return to work , saying recently that empty offices were “ a big problem ” for the economy .
Read more : Eight out of 10 UK workers expect to return to the office this year Fears over the future of city centres are growing as recent analysis shows just 17 per cent of people had returned to work in the UK ’ s 63 @ @ @ @ @ @ @ lockdown started to lift .
Yesterday online trader IG became the latest in a raft of firms to tell workers that there was no requirement to return to the office if they did not wish to do so .

Sir Graham Brady calls on ministers to get workers back to the office
An influential senior Tory MP has urged the government to give workers a “clear and consistent message” that it is safe to return to the office.
Sir Graham Brady, the chair of the 1922 committee of backbench Conservatives, said that if ministers did not do so there would be “devastating consequences” for the country’s towns and cities.
Speaking to the Times, Brady said: “Of course there are some businesses which find their staff are just as productive working from home.
“What is essential is that the government gives a clear and consistent message that is perfectly safe for people to return to town.
“They should not be worried about infections as a result of travelling on trains and buses.
“We can all see the devastating consequences for many businesses when a huge proportion of the customers on whom they depend simply aren’t coming into our towns and cities”, he finished.
Earlier this week, Boris Johnson’s spokesperson said that it was up to individual employers to decide whether to bring back employees, refusing to say if the PM supports growing calls for people to return to work.
The comments came in stark contrast with the Johnson’s own words earlier this month when he called for people to have “confidence” to return to the workplace.
Before the Open newsletter: Start your day with the City View podcast and key market data
Brady’s is the latest voice to join a rising crowd of those calling for the Prime Minister to take steps to urge employees back to their places of work.
This morning, Dame Carolyn Fairburn, the head of the CBI, warned that the country’s centres of commerce could become permanent “ghost towns” if the issue was not addressed imminently.
Writing in the Daily Mail, Fairburn said that the return of office workers was as important as the return of school pupils.
“The costs of office closure are becoming clearer by the day. Some of our busiest city centres resemble ghost towns, missing the usual bustle of passing trade. This comes at a high price for local businesses, jobs and communities”, she wrote.
London’s mayor Sadiq Khan has also called for a return to work, saying recently that empty offices were “a big problem” for the economy.
Fears over the future of city centres are growing as recent analysis shows just 17 per cent of people had returned to work in the UK’s 63 biggest cities, unchanged from June when lockdown started to lift.
Yesterday online trader IG became the latest in a raft of firms to tell workers that there was no requirement to return to the office if they did not wish to do so.


cityam--2020-08-27--Four more years? Trump's campaign begins at the Republican convention

Most casual observers will have noticed little from the Republican National Convention beyond the odd social media clip of a screeching Kimberly Guilfoyle or teary-eyed Donald Trump Jr .
While many will laugh off the bizarre and sometimes frightening rhetoric – Guilfoyle ’ s speech in particular would not be out of place at a Pyongyang military parade – of the first three days , the narrative being crafted by the Republicans may have some Democrats quietly worried .
Much like their opposite numbers at the Democratic convention last week , the speakers at the four-day Trump rally were consistently @ @ @ @ @ @ @ saw the Trump team exploit the culture war exploding around the United States to paint Biden as an appeaser of woke leftists .
Vice President Mike Pence best summarised that message in a 35-minute speech , where he said electing Joe Biden would lead to “ radical leftists ” entering the White House through the backdoor .
Time and again Pence painted the moderate Biden as a “ trojan horse for the radical left ” and a pawn of the left-wing of the Democratic Party .
The often repeated mantra “ Defund the @ @ @ @ @ @ @ some sections of the left of the Democratic Party through the George Floyd protests , will continue to be used by Trump and his cronies to illustrate this assertion .
Read more : Are the Democrats sleepwalking into the US election ?
The suggestion that Biden , if elected , would capitulate to fringe Black Lives Matter organisers is patently absurd , but it sets the tone for a broader message that the metropolitan Democrats despise middle America and its culture .
Republican speakers have hammered home the message that Biden and his @ @ @ @ @ @ @ place in the world and its citizens who are not from trendy coastal areas .
These blue collar Americans , who catapulted Trump to the Presidency in 2016 , will likely have also been shocked and appalled by some of the violent scenes seen on their television screens this summer .
Even though violent rioters only made up a tiny minority of Black Lives Matters protesters , polling shows the effect they have had on white voters is material .
Thirty-three per cent of white respondents to a YouGov/Economist survey last week said @ @ @ @ @ @ @ – down from 45 per cent in June .
Trump and co have been all too happy to exploit this by claiming that only the President can restore law and order to the country , and that Biden on the other hand would stuff his cabinet with militant Marxists ready to start a countrywide intifada against the middle class .
Some commentators have said the conspicuous lack of establishment party figures at the convention is a sign Trump has lost the party and that mainstream Republicans have deserted him .
While the Democrats @ @ @ @ @ @ @ Presidents and big-name political figures , speakers at the Republican convention have been Trump family members , fringe congressmen and a couple that went viral for brandishing automatic weapons when faced with Black Lives Matter protesters .
But to say this clown car of participants was chosen out of necessity is wide of the mark .
Trump ’ s message since 2015 has been that he is an anti-establishment wrecker who will “ drain the swamp ” of the faceless Washington elite .
Having party grandees at his convention would be the complete @ @ @ @ @ @ @ , and would tarnish his brand .
Read more : Trump backs Oracle bid for Tiktok ’ s US business It is a persona that Democrats still do not understand or appreciate .
Much of the Democratic convention focussed on personal attacks on the President as they rolled out the self-evident facts that Trump is un-Presidential , volatile , a misogynist etc .
It ’ s truly bizarre that the Democrats have not twigged that people who voted for Trump in 2016 do not care about his character being offensive and crass .
@ @ @ @ @ @ @ for in 2016 and they are unlikely to be swayed by the argument that Trump does not deserve a second term based on his alleged misogyny , racism or philistinism .
The President ’ s message that he will maintain law and order , preserve America ’ s working class and bring the economy back to pre-Covid levels – GDP soared over Trump ’ s first three years in office – should not be underestimated .
While he will doubtlessly find it hard to defend his record on Covid-19 , deaths have now @ @ @ @ @ @ @ is quite possible this will slip from voters minds if the disease is under control by the time polling day comes around .
In any case , he will also be able to continually shift the blame for the virus onto his favourite scapegoat – China .

Four more years? Trump’s campaign begins at the Republican convention
US First Lady Melania Trump and US President Donald Trump gestures to attendees during the third night of the Republican National Convention at Fort McHenry National Monument in Baltimore, Maryland
Most casual observers will have noticed little from the Republican National Convention beyond the odd social media clip of a screeching Kimberly Guilfoyle or teary-eyed Donald Trump Jr. While many will laugh off the bizarre and sometimes frightening rhetoric – Guilfoyle’s speech in particular would not be out of place at a Pyongyang military parade – of the first three days, the narrative being crafted by the Republicans may have some Democrats quietly worried.
Much like their opposite numbers at the Democratic convention last week, the speakers at the four-day Trump rally were consistently on message. The first three days saw the Trump team exploit the culture war exploding around the United States to paint Biden as an appeaser of woke leftists. Vice President Mike Pence best summarised that message in a 35-minute speech, where he said electing Joe Biden would lead to “radical leftists” entering the White House through the backdoor.
Time and again Pence painted the moderate Biden as a “trojan horse for the radical left” and a pawn of the left-wing of the Democratic Party. The often repeated mantra “Defund the Police”, which became popular among some sections of the left of the Democratic Party through the George Floyd protests, will continue to be used by Trump and his cronies to illustrate this assertion.
The suggestion that Biden, if elected, would capitulate to fringe Black Lives Matter organisers is patently absurd, but it sets the tone for a broader message that the metropolitan Democrats despise middle America and its culture. Republican speakers have hammered home the message that Biden and his party are embarrassed of America, its place in the world and its citizens who are not from trendy coastal areas.
These blue collar Americans, who catapulted Trump to the Presidency in 2016, will likely have also been shocked and appalled by some of the violent scenes seen on their television screens this summer. Even though violent rioters only made up a tiny minority of Black Lives Matters protesters, polling shows the effect they have had on white voters is material. Thirty-three per cent of white respondents to a YouGov/Economist survey last week said racism is a big problem in America – down from 45 per cent in June. Trump and co have been all too happy to exploit this by claiming that only the President can restore law and order to the country, and that Biden on the other hand would stuff his cabinet with militant Marxists ready to start a countrywide intifada against the middle class.
Some commentators have said the conspicuous lack of establishment party figures at the convention is a sign Trump has lost the party and that mainstream Republicans have deserted him. While the Democrats’ convention featured a host of former Presidents and big-name political figures, speakers at the Republican convention have been Trump family members, fringe congressmen and a couple that went viral for brandishing automatic weapons when faced with Black Lives Matter protesters.
But to say this clown car of participants was chosen out of necessity is wide of the mark. Trump’s message since 2015 has been that he is an anti-establishment wrecker who will “drain the swamp” of the faceless Washington elite. Having party grandees at his convention would be the complete antithesis of this persona he has crafted, and would tarnish his brand.
It is a persona that Democrats still do not understand or appreciate. Much of the Democratic convention focussed on personal attacks on the President as they rolled out the self-evident facts that Trump is un-Presidential, volatile, a misogynist etc. It’s truly bizarre that the Democrats have not twigged that people who voted for Trump in 2016 do not care about his character being offensive and crass. They knew exactly who they were voting for in 2016 and they are unlikely to be swayed by the argument that Trump does not deserve a second term based on his alleged misogyny, racism or philistinism.
The President’s message that he will maintain law and order, preserve America’s working class and bring the economy back to pre-Covid levels – GDP soared over Trump’s first three years in office – should not be underestimated. While he will doubtlessly find it hard to defend his record on Covid-19, deaths have now reached 175,000 in the US, it is quite possible this will slip from voters minds if the disease is under control by the time polling day comes around. In any case, he will also be able to continually shift the blame for the virus onto his favourite scapegoat – China.


cityam--2020-08-27--EDF to shut Hunterston nuclear plant in January 2022

EDF today announced that the Hunterston B nuclear power station in Scotland would begin decommissioning in January 2022 at the latest .
The plant , which began generating electricity in 1976 , provides enough power to run 1.7m homes .
Read more : An open letter to the PM : Britain must build Sizewell C — nuclear sits at the heart of a green recovery It had been expected that the plant would continue to operate until March 2023 , but EDF said it had taken the decision due to the age of the power station .
“ Given the @ @ @ @ @ @ @ to provide clarity for our staff , the community and business partners , EDF has decided that Hunterston B will move into the defuelling phase no later than 7 January 2022 ” , the French energy giant said in a statement .
“ This is subject to a further inspection in spring 2021 and then regulatory approval for a final six months of operation.
” EDF employs 500 staff at the plant , along with 200 contractors .
The firm said it was already in discussions with workers about their future .
Today @ @ @ @ @ @ @ firm said that the plant would begin generating power again after a two-year inspection .
A number of cracks had appeared in the plant ’ s reactors , as is common with age .
The Hunterston plant , which is in Ayrshire in the south-west of Scotland , is one of just eight nuclear power plants in the UK .
Between them , they currently supply 20 per cent of the country ’ s power , but four of them are due to shut by 2024 .
Before the Open newsletter : Start @ @ @ @ @ @ @ and key market data The decision is likely to increase the focus on EDF ’ s new developments at Sizewell C and Bradwell B in Suffolk and Essex respectively .
Both projects are likely to prove controversial due to the involvement of state-owned China General Nuclear , which owns a stakes in both projects .
Bradwell B especially could present a challenge to the government , as the project will see CGN design and build its own nuclear reactor model , unlike at Sizewell C , which will use EDF ’ s technology @ @ @ @ @ @ @ to ban fellow Chinese firm Huawei from involvement in the UK ’ s 5G networks , many have suggested that the country ’ s role in the UK ’ s nuclear industry could be the next to fall under scrutiny .
MPs including Iain Duncan Smith and Bernard Jenkin have already raised concerns about the scope of CGN ’ s role in Bradwell B .
However , with nuclear power seen by many as key to achieving the UK ’ s net zero ambitions , sector body the Nuclear Industry Association warned that @ @ @ @ @ @ @ .
Read more : Sizewell C : Nuclear plant under scrutiny over Chinese role “ With Hunterston ’ s move to decommissioned confirmed for January 2022 , the urgency of the need to invest in new capacity to provide secure , reliable and always available low carbon power is clear .
“ Without new nuclear power , the UK can not meet its net zero target ” , it said .

EDF to shut Hunterston nuclear plant in January 2022
EDF today announced that the Hunterston B nuclear power station in Scotland would begin decommissioning in January 2022 at the latest.
The plant, which began generating electricity in 1976, provides enough power to run 1.7m homes.
It had been expected that the plant would continue to operate until March 2023, but EDF said it had taken the decision due to the age of the power station.
“Given the age of the station and the desire to provide clarity for our staff, the community and business partners, EDF has decided that Hunterston B will move into the defuelling phase no later than 7 January 2022”, the French energy giant said in a statement.
“This is subject to a further inspection in spring 2021 and then regulatory approval for a final six months of operation.”
EDF employs 500 staff at the plant, along with 200 contractors. The firm said it was already in discussions with workers about their future.
Today’s announcement came as the French firm said that the plant would begin generating power again after a two-year inspection.
A number of cracks had appeared in the plant’s reactors, as is common with age.
Another closure knocks UK nuclear power
The Hunterston plant, which is in Ayrshire in the south-west of Scotland, is one of just eight nuclear power plants in the UK.
Between them, they currently supply 20 per cent of the country’s power, but four of them are due to shut by 2024.
Before the Open newsletter: Start your day with the City View podcast and key market data
The decision is likely to increase the focus on EDF’s new developments at Sizewell C and Bradwell B in Suffolk and Essex respectively.
Both projects are likely to prove controversial due to the involvement of state-owned China General Nuclear, which owns a stakes in both projects.
Bradwell B especially could present a challenge to the government, as the project will see CGN design and build its own nuclear reactor model, unlike at Sizewell C, which will use EDF’s technology.
After the government’s decision to ban fellow Chinese firm Huawei from involvement in the UK’s 5G networks, many have suggested that the country’s role in the UK’s nuclear industry could be the next to fall under scrutiny.
MPs including Iain Duncan Smith and Bernard Jenkin have already raised concerns about the scope of CGN’s role in Bradwell B.
However, with nuclear power seen by many as key to achieving the UK’s net zero ambitions, sector body the Nuclear Industry Association warned that more investment into the technology was crucial.
“With Hunterston’s move to decommissioned confirmed for January 2022, the urgency of the need to invest in new capacity to provide secure, reliable and always available low carbon power is clear.
“Without new nuclear power, the UK cannot meet its net zero target”, it said.


cityam--2020-08-27--Pret a Manger to axe 2,800 jobs as sales fall to lowest level in a decade

High street stalwart Pret a Manger said today that it would cut 2,800 jobs as a result of the coronavirus pandemic , which has seen sales drop to levels last seen a decade ago .
The announcement comes after Pret earlier this year revealed that it would not reopen 30 of its restaurants after the lockdown ended .
Read more : Retail employment falls at sharpest rate in more than a decade Sales at the eatery , a common site in city centres around the country , remain around 60 per cent down this year .
The chain is especially @ @ @ @ @ @ @ of whom are yet to return to their offices on a full time basis .
Around 1,000 other jobs at the firm were preserved , Pret said , as a result of staff moving to minimum hours contracts .
By the time the restructuring is finished , Pret ’ s headcount will have shrunk to 6,000 across 367 stores .
Chief executive Pano Christou said that he was “ gutted ” by the redundancies .
Before the Open newsletter : Start your day with the City View podcast and key market data “ @ @ @ @ @ @ @ ve had to lose so many colleagues .
Although we ’ re now starting to see a steady but slow recovery , the pandemic has taken away almost a decade of growth at Pret ” , he said .
“ We ’ ve managed to protect many jobs by making changes to the way we run our shops and the hours we ask Team Members to work .
“ I ’ m hopeful we ’ ll be able to review all these changes now that trade is improving again , and I ’ @ @ @ @ @ @ @ re seeing every week.
” Although weekly sales at Pret rose seven per cent in July , they currently stand at £5.2m , the same level as in August 2010 .
Pret ’ s cuts come just days after the CBI revealed that employment in the retail sector fell 45 per cent in August , the sharpest drop since February 2009 .
According to the CBI , that figure will only grow as the government winds down its job retention scheme over the next two months .
Read more : Marks & Spencer @ @ @ @ @ @ @ amid pandemic As a result , many have called for an extension to the furlough scheme , warning that if the government does not take action the UK could be hit by a massive wave of redundancies over the winter .
Pret ’ s Christou thanked the government for its support , saying he hoped that it continued “ for as long as possible ” .

Pret a Manger to axe 2,800 jobs as sales fall to lowest level in a decade
High street stalwart Pret a Manger said today that it would cut 2,800 jobs as a result of the coronavirus pandemic, which has seen sales drop to levels last seen a decade ago.
The announcement comes after Pret earlier this year revealed that it would not reopen 30 of its restaurants after the lockdown ended.
Sales at the eatery, a common site in city centres around the country, remain around 60 per cent down this year.
The chain is especially popular with office workers, the majority of whom are yet to return to their offices on a full time basis.
Around 1,000 other jobs at the firm were preserved, Pret said, as a result of staff moving to minimum hours contracts.
By the time the restructuring is finished, Pret’s headcount will have shrunk to 6,000 across 367 stores.
Chief executive Pano Christou said that he was “gutted” by the redundancies.
Before the Open newsletter: Start your day with the City View podcast and key market data
“I’m gutted that we’ve had to lose so many colleagues. Although we’re now starting to see a steady but slow recovery, the pandemic has taken away almost a decade of growth at Pret”, he said.
“We’ve managed to protect many jobs by making changes to the way we run our shops and the hours we ask Team Members to work.
“I’m hopeful we’ll be able to review all these changes now that trade is improving again, and I’m encouraged by the improvements we’re seeing every week.”
Although weekly sales at Pret rose seven per cent in July, they currently stand at £5.2m, the same level as in August 2010.
Pret’s cuts come just days after the CBI revealed that employment in the retail sector fell 45 per cent in August, the sharpest drop since February 2009.
According to the CBI, that figure will only grow as the government winds down its job retention scheme over the next two months.
As a result, many have called for an extension to the furlough scheme, warning that if the government does not take action the UK could be hit by a massive wave of redundancies over the winter.
Pret’s Christou thanked the government for its support, saying he hoped that it continued “for as long as possible”.


cityam--2020-08-27--Tiktok 'nears deal' for sale of US operations after chief exec quits

Short-form video app Tiktok is nearing a deal for its US operations , CNBC reported today , ahead of a potential ban in the country .
The reports come just hours after chief executive Kevin Mayer quit his role at the firm , citing political pressure from the White House .
According to the report , Mayer was initially going to announced that he was stepping down at the same time that the sale was confirmed .
A sale could be announced in the coming days , it added .
Tiktok declined to comment on the report .
The hit @ @ @ @ @ @ @ with Oracle and Microsoft over a deal .
CNBC said that retail giant Walmart had confirmed that it was joining the latter ’ s bid for the social media firm .
In a statement , Walmart said : “ The way Tiktok has integrated e-commerce and advertising capabilities in other markets is a clear benefit to creators and users in those markets .
“ We believe a potential relationship with Tiktok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and @ @ @ @ @ @ @ our third-party marketplace and advertising businesses .
“ We are confident that a Walmart and Microsoft partnership would meet both the expectations of US Tiktok users while satisfying the concerns of US government regulators.
” Earlier this week , Tiktok launched legal action against the Trump administration over an executive order banning US companies from doing business with the social media platform .
Before the Open newsletter : Start your day with the City View podcast and key market data Trump gave Tiktok ’ s Chinese owner Bytedance 90 days to sell up @ @ @ @ @ @ @ ban .
Any such deal is expected to be worth up to $ 30bn , similar to the market capitalisation of fellow tech giant Twitter .
On Monday , Bytedance said that it had been left with “ no choice ” but to sue Trump over the potential ban .
It said that it strongly disagreed with the White House ’ s position that Tiktok presented a national security threat .
It also accused Trump of using the executive order as a campaigning ploy to ramp up a “ broader campaign of anti-China @ @ @ @ @ @ @ US presidential election .
In a statement earlier today , Mayer , who joined from Disney just three months ago , said he was departing with a “ heavy heart ” .
“ In recent weeks , as the political environment has sharply changed , I have done significant reflection on what the corporate structural changes will require , and what it means for the global role I signed up for , ” he wrote .
“ Against this backdrop , and as we expect to reach a resolution very soon , it @ @ @ @ @ @ @ wanted to let you all know that I have decided to leave the company .
”

Tiktok ‘nears deal’ for sale of US operations after chief exec quits
Short-form video app Tiktok is nearing a deal for its US operations, CNBC reported today, ahead of a potential ban in the country.
The reports come just hours after chief executive Kevin Mayer quit his role at the firm, citing political pressure from the White House.
According to the report, Mayer was initially going to announced that he was stepping down at the same time that the sale was confirmed.
A sale could be announced in the coming days, it added. Tiktok declined to comment on the report.
The hit app is understood to be in talks with Oracle and Microsoft over a deal. CNBC said that retail giant Walmart had confirmed that it was joining the latter’s bid for the social media firm.
In a statement, Walmart said: “The way Tiktok has integrated e-commerce and advertising capabilities in other markets is a clear benefit to creators and users in those markets.
“We believe a potential relationship with Tiktok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses.
“We are confident that a Walmart and Microsoft partnership would meet both the expectations of US Tiktok users while satisfying the concerns of US government regulators.”
Earlier this week, Tiktok launched legal action against the Trump administration over an executive order banning US companies from doing business with the social media platform.
Before the Open newsletter: Start your day with the City View podcast and key market data
Trump gave Tiktok’s Chinese owner Bytedance 90 days to sell up to an American buyer or face the ban.
Any such deal is expected to be worth up to $30bn, similar to the market capitalisation of fellow tech giant Twitter.
On Monday, Bytedance said that it had been left with “no choice” but to sue Trump over the potential ban.
It said that it strongly disagreed with the White House’s position that Tiktok presented a national security threat.
It also accused Trump of using the executive order as a campaigning ploy to ramp up a “broader campaign of anti-China rhetoric” ahead of November’s US presidential election.
In a statement earlier today, Mayer, who joined from Disney just three months ago, said he was departing with a “heavy heart”.
“In recent weeks, as the political environment has sharply changed, I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for,” he wrote.
“Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company.”


cityam--2020-08-27--Switzerland and the Czech Republic added to UK quarantine list

Switzerland , the Czech Republic , and Jamaica have been added to the UK ’ s quarantine list from Saturday , transport secretary Grant Shapps has confirmed .
From four o ’ clock on Saturday morning , all travellers returning to the UK from these countries will have to self-isolate for 14 days .
Read more : Ministers in talks over London to New York air bridge In a tweet , Shapps said : “ Data shows we need to remove the Czech Republic , Jamaica and Switzerland from our list of travel corridors to keep infection rates down.
” @ @ @ @ @ @ @ be added to the list of countries that people can travel to without restrictions .
Switzerland had been widely touted to be added to the list after a recent surge in cases of coronavirus .
Shapps has said countries risk being added to the list when their rate of infection exceeds 20 cases per 100,000 people over seven days .
At the moment Switzerland has a seven-day rate of 21.2 , while the rate in the Czech Republic is currently at 19.4 , up from 16 a week ago .
Before the Open @ @ @ @ @ @ @ City View podcast and key market data The three countries join a number of other nations , including France , Spain , Croatia and the Netherlands , on the red list , as well as Alpine neighbour Austria .
Earlier today it was reported that officials were in talks with counterparts in the US over potential air bridges to regions with low rates of transmission .
According to the Times , a route linking London and New York , which boasts just 7.2 cases per 100,000 , could be in place by Christmas @ @ @ @ @ @ @ Transport said : “ Conversations between governments in other countries on a whole range of issues take place regularly .
Read more : UK quarantine list : Which European countries have the worst infection rates ?
“ Public health remains the UK ’ s top priority and we are committed to tackling this virus while enabling a sustainable and responsible return to international travel .
“ We keep the data for all countries and territories under constant review , and will not add a country to our travel corridor list unless safe to @ @ @ @

Switzerland and the Czech Republic added to UK quarantine list
The UK will be exempt from Swiss-EU free movement laws when Britain formally leaves the bloc on 31 December
Switzerland, the Czech Republic, and Jamaica have been added to the UK’s quarantine list from Saturday, transport secretary Grant Shapps has confirmed.
From four o’clock on Saturday morning, all travellers returning to the UK from these countries will have to self-isolate for 14 days.
In a tweet, Shapps said: “Data shows we need to remove the Czech Republic, Jamaica and Switzerland from our list of travel corridors to keep infection rates down.”
However, he added that Cuba would be added to the list of countries that people can travel to without restrictions.
Switzerland had been widely touted to be added to the list after a recent surge in cases of coronavirus.
Shapps has said countries risk being added to the list when their rate of infection exceeds 20 cases per 100,000 people over seven days.
At the moment Switzerland has a seven-day rate of 21.2, while the rate in the Czech Republic is currently at 19.4, up from 16 a week ago.
Before the Open newsletter: Start your day with the City View podcast and key market data
The three countries join a number of other nations, including France, Spain, Croatia and the Netherlands, on the red list, as well as Alpine neighbour Austria.
Earlier today it was reported that officials were in talks with counterparts in the US over potential air bridges to regions with low rates of transmission.
According to the Times, a route linking London and New York, which boasts just 7.2 cases per 100,000, could be in place by Christmas.
A spokesperson for the Department for Transport said: “Conversations between governments in other countries on a whole range of issues take place regularly.
“Public health remains the UK’s top priority and we are committed to tackling this virus while enabling a sustainable and responsible return to international travel.
“We keep the data for all countries and territories under constant review, and will not add a country to our travel corridor list unless safe to do so.”


cityam--2020-08-27--UK records highest number of new coronavirus cases since June

There were more than 1,500 new cases of coronavirus confirmed in the UK today , the highest daily figure in more than two months .
According to new data from the Department of Health and Social Care , 1,522 more people were confirmed to have contracted the disease in the last 24 hours .
The new figure represents a 50 per cent increase on the day before , when there were 1,048 new cases .
It is also the highest daily number of new cases recorded since 12 June , just as the UK was beginning to emerge from lockdown @ @ @ @ @ @ @ your day with the City View podcast and key market data An additional 12 people have died of the disease , government statistics confirmed , taking the total number of fatalities to 41,477 .
The jump in cases comes amid fears of a potential second wave of infections around the world .
According to the data , the seven day average for new cases in the UK now stands at 1,155 .
On 5 July , this figure was 546 .
However , the increase in cases may be down to an increase @ @ @ @ @ @ @ processed yesterday , slightly ahead of the weekly average of 180,326 .
By contrast , at the beginning of July , the average number of tests per day stood around 135,000 .

UK records highest number of new coronavirus cases since June
There were more than 1,500 new cases of coronavirus confirmed in the UK today, the highest daily figure in more than two months.
According to new data from the Department of Health and Social Care, 1,522 more people were confirmed to have contracted the disease in the last 24 hours.
The new figure represents a 50 per cent increase on the day before, when there were 1,048 new cases.
It is also the highest daily number of new cases recorded since 12 June, just as the UK was beginning to emerge from lockdown.
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An additional 12 people have died of the disease, government statistics confirmed, taking the total number of fatalities to 41,477.
The jump in cases comes amid fears of a potential second wave of infections around the world.
According to the data, the seven day average for new cases in the UK now stands at 1,155. On 5 July, this figure was 546.
However, the increase in cases may be down to an increase in testing capacity. 186,500 tests were processed yesterday, slightly ahead of the weekly average of 180,326.
By contrast, at the beginning of July, the average number of tests per day stood around 135,000.


cityam--2020-08-27--Fox Chairman looks a Dream of a bet at Windsor

AFTER the razzmatazz of York ’ s Ebor Festival last week , it ’ s unsurprising the action this weekend is of a slightly lesser note .
There ’ s still a decent card at Goodwood , though , with the Group Two Celebration Mile ( 3:35pm ) the standout contest .
All eyes will be on Benbatl who makes an eagerly-anticipated return having been off the track for over 180 days since last running in the Saudi Cup .
The multiple Group-winning six-year-old has been a fantastic servant for connections and if he ’ s anywhere near top-form on @ @ @ @ @ @ @ tough to beat at 9/4 .
However , there is plenty of rain forecast and I can see this turning into a real slog which might not play to the son of Dubawi ’ s strengths .
If he does put in a below-par performance it ’ s usually when the ground is soft , as shown when he finished last in the Queen Elizabeth II Stakes on Champions Day last season .
His main rival , as far as the betting is concerned , is Regal Reality who was last seen when @ @ @ @ @ @ @ much more like it from the Sir Michael Stoute representative , but he ’ s another who will surely prefer better ground .
With doubts about the front two in the market , CENTURY DREAM looks a real player at 6/1 .
Simon and Ed Crisford ’ s inmate is known to be effective when the mud flies , so he ’ ll have no issues if it gets really testing .
He ran a fine race in the aforementioned QEII at Ascot last season and he looked very much the force of @ @ @ @ @ @ @ a second time on his seasonal reappearance .
Things didn ’ t go right in the Prix d ’ Ispahan at Chantilly last time , but with the ground in his favour he looks a value alternative to the top two in the betting .
Over at Windsor , FOX CHAIRMAN looks to have found an ideal opportunity to get back to winning ways in the Winter Hill Stakes ( 3.15pm ) .
The son of Kingman was a good second to Aspetar in the Group Two York Stakes when last seen and @ @ @ @ @ @ @ looks to hold leading claims of notching a first win of the season .
He was a Listed winner on soft ground at the back-end of the last campaign , so he shouldn ’ t have any problems if the rain comes and he can take this on the road to bigger and better things at 6/4 .

Fox Chairman looks a Dream of a bet at Windsor
Fox Chairman looks to have found a good opportunity to get back to winning ways at Windsor
AFTER the razzmatazz of York’s Ebor Festival last week, it’s unsurprising the action this weekend is of a slightly lesser note.
There’s still a decent card at Goodwood, though, with the Group Two Celebration Mile (3:35pm) the standout contest.
All eyes will be on Benbatl who makes an eagerly-anticipated return having been off the track for over 180 days since last running in the Saudi Cup.
The multiple Group-winning six-year-old has been a fantastic servant for connections and if he’s anywhere near top-form on his comeback, he’ll prove tough to beat at 9/4.
However, there is plenty of rain forecast and I can see this turning into a real slog which might not play to the son of Dubawi’s strengths.
If he does put in a below-par performance it’s usually when the ground is soft, as shown when he finished last in the Queen Elizabeth II Stakes on Champions Day last season.
His main rival, as far as the betting is concerned, is Regal Reality who was last seen when bolting up at Salisbury.
That was much more like it from the Sir Michael Stoute representative, but he’s another who will surely prefer better ground.
With doubts about the front two in the market, CENTURY DREAM looks a real player at 6/1.
Simon and Ed Crisford’s inmate is known to be effective when the mud flies, so he’ll have no issues if it gets really testing.
He ran a fine race in the aforementioned QEII at Ascot last season and he looked very much the force of old when taking the Diomed Stakes for a second time on his seasonal reappearance.
Things didn’t go right in the Prix d’Ispahan at Chantilly last time, but with the ground in his favour he looks a value alternative to the top two in the betting.
Over at Windsor, FOX CHAIRMAN looks to have found an ideal opportunity to get back to winning ways in the Winter Hill Stakes (3.15pm).
The son of Kingman was a good second to Aspetar in the Group Two York Stakes when last seen and, back down in class, he looks to hold leading claims of notching a first win of the season.
He was a Listed winner on soft ground at the back-end of the last campaign, so he shouldn’t have any problems if the rain comes and he can take this on the road to bigger and better things at 6/4.
POINTERS
Fox Chairman 6/4 3.15pm Windsor
Century Dream 6/1 3.35pm Goodwood


cityam--2020-08-28--UK funds three Covid-19 immune responses studies

The UK today said it will back three nationwide Covid-19 studies with £8.4m to fund research into understanding human immune responses to the pandemic coronavirus .
Read more : UK records highest number of new coronavirus cases since June The funds , from UK Research and Innovation and the National Institute for Health Research , will help scientists develop better immunity tests , study the body ’ s immune response to SARS-CoV-2 and understand why some people suffer life-threatening Covid-19 while others have mild or asymptomatic infections .
“ Together , it is hoped these studies will improve the treatment @ @ @ @ @ @ @ vaccines and therapies , ” the funding bodies said in a joint statement .
“ Importantly , these studies will determine when and how immunity persists or whether people can become re-infected ( with Covid-19 ) .
” The funding will be split between the UK Coronavirus Immunology Consortium , which will get £6.5m to study how effective immunity is developed and why people respond differently to the disease , and another research collaboration which will get £1.5m to study the humoral immune response – molecules produced by the immune system to fight @ @ @ @ @ @ @ pay Astrazeneca £300m for Oxford coronavirus vaccine Just under £400,000 will fund a third project looking at key features of fatal Covid-19 and the impact the virus has upon the lungs and other vital organs .
Yesterday there were more than 1,500 new cases of coronavirus confirmed in the UK , the highest daily figure in more than two months .
According to data from the Department of Health and Social Care , 1,522 more people were confirmed to have contracted the disease in the last 24 hours .
The figure represents a @ @ @ @ @ @ @ before , when there were 1,048 new cases .

UK funds three Covid-19 immune responses studies
UK funds three Covid-19 studies
The UK today said it will back three nationwide Covid-19 studies with £8.4m to fund research into understanding human immune responses to the pandemic coronavirus.
The funds, from UK Research and Innovation and the National Institute for Health Research, will help scientists develop better immunity tests, study the body’s immune response to SARS-CoV-2 and understand why some people suffer life-threatening Covid-19 while others have mild or asymptomatic infections.
“Together, it is hoped these studies will improve the treatment of patients and inform the development of vaccines and therapies,” the funding bodies said in a joint statement.
“Importantly, these studies will determine when and how immunity persists or whether people can become re-infected (with Covid-19).”
The funding will be split between the UK Coronavirus Immunology Consortium, which will get £6.5m to study how effective immunity is developed and why people respond differently to the disease, and another research collaboration which will get £1.5m to study the humoral immune response – molecules produced by the immune system to fight infection.
Just under £400,000 will fund a third project looking at key features of fatal Covid-19 and the impact the virus has upon the lungs and other vital organs.
Yesterday there were more than 1,500 new cases of coronavirus confirmed in the UK, the highest daily figure in more than two months.
According to data from the Department of Health and Social Care, 1,522 more people were confirmed to have contracted the disease in the last 24 hours.
The figure represents a 50 per cent increase on the day before, when there were 1,048 new cases.


cityam--2020-08-28--Piccadilly palance: Notting Hill carnival dancers appear in West End before virtual celebration

A troupe of soca dancers appeared in Piccadilly Circus today ahead of a virtual celebration of the Notting Hill carnival this weekend .
The Caribbean party normally takes place on the streets of Notting Hill over August bank holiday weekend .
Read more : Notting Hill Carnival ’ s ‘ Dancing Granny ’ signs underwear deal with Sloggi after video goes viral This year performances will be streamed online due to the coronavirus pandemic which has put an end to mass gatherings .
Today a troupe of Caribbean soca dancers dressed head to toe in Carnival costume started the live @ @ @ @ @ @ @ Circus ahead of the Bank Holiday weekend .
Notting Hill Carnival performers Fiona Compton , Andrea Wallace and Donna Cupid-Thuesday paraded across London ’ s most famous landmark in full carnival dress and regalia .
Read more : Which London restaurants are extending Eat Out to Help Out ?
The weekend ’ s entertainment will be spread over four channels from Saturday to Monday and will be presented by a selection of hosts .
Matthew Phillip , executive director of Notting Hill Carnival Ltd , said : “ Not having Notting Hill Carnival @ @ @ @ @ @ @ incredibly sad but vital decision that was unavoidable for the safety of millions that attend .
With Notting Hill Carnival 2020 : Access All Areas we wanted to ensure that the vibrancy , sounds and culture was still given an opportunity to flourish in 2020.
” Notting Hill Carnival is an annual celebration of London ’ s Caribbean communities and culture .
It normally features a parade , live music , floats and steel bands , as well as a lot of Caribbean cuisine .
Last year around 2m people attended the annual @ @ @ @ @ @ @ , which showcases London ’ s multicultural past and present .
The event first took place in 1966 , when it was led by resident and social worker Rhaune Laslett – a community activist who had worked to ease inter-cultural tensions in the area .

Piccadilly palance: Notting Hill carnival dancers appear in West End before virtual celebration
Soca dancers appear today in Piccadilly Circus ahead of the virtual Notting Hill carnival this weekend (picture credit Samsung)
A troupe of soca dancers appeared in Piccadilly Circus today ahead of a virtual celebration of the Notting Hill carnival this weekend.
The Caribbean party normally takes place on the streets of Notting Hill over August bank holiday weekend.
This year performances will be streamed online due to the coronavirus pandemic which has put an end to mass gatherings.
Today a troupe of Caribbean soca dancers dressed head to toe in Carnival costume started the live countdown on the big screen in Piccadilly Circus ahead of the Bank Holiday weekend.
Notting Hill Carnival performers Fiona Compton, Andrea Wallace and Donna Cupid-Thuesday paraded across London’s most famous landmark in full carnival dress and regalia.
The weekend’s entertainment will be spread over four channels from Saturday to Monday and will be presented by a selection of hosts.
Matthew Phillip, executive director of Notting Hill Carnival Ltd, said: “Not having Notting Hill Carnival on the street this year was an incredibly sad but vital decision that was unavoidable for the safety of millions that attend. With Notting Hill Carnival 2020: Access All Areas we wanted to ensure that the vibrancy, sounds and culture was still given an opportunity to flourish in 2020.”
Notting Hill Carnival is an annual celebration of London’s Caribbean communities and culture. It normally features a parade, live music, floats and steel bands, as well as a lot of Caribbean cuisine.
Last year around 2m people attended the annual event over the course of the weekend, which showcases London’s multicultural past and present.
The event first took place in 1966, when it was led by resident and social worker Rhaune Laslett – a community activist who had worked to ease inter-cultural tensions in the area.


cityam--2020-08-28--Employers must reassure staff that offices are not only safe, but the same buzzy environment they le

Yesterday , Dame Carolyn Fairbairn , the boss of the CBI , issued a rallying cry to the Prime Minister to do something about Britain ’ s “ ghost towns ” .
The message was simple — give people confidence to return to the workplace , or the once thriving businesses in the commercial centres of our cities will be doomed .
She is absolutely right — and the government has already responded , with a campaign set to launch next week to get cities moving again , to soothe our ailing economy .
But while we need these proactive @ @ @ @ @ @ @ s also up to employers themselves .
Companies need to show that they are militant when it comes to eliminating Covid danger zones , and they need to communicate this to staff before they call them back to the office , offering training for all employees to boost confidence , not only in the new system , but in each other ’ s ability to adhere to it .
Tackling this first point is not complicated but certainly crucial .
The traditional office set-up needs to be re-examined .
Rooms must be well @ @ @ @ @ @ @ supplied with sanitising materials .
Hot desking is out the window , as is sharing of anything from IT equipment to pens , mugs and certainly finger food like crisps .
Read more : UK firms must return to the office to revive the economy , says CBI boss Communal areas must be limited to a small number of people at a time , and appliances must be routinely wiped down with anti-bacterial solution .
A recent study found 108,000 types of bacteria per square inch on an office kettle , while pens @ @ @ @ @ @ @ it comes to office bacteria .
These potential Covid threats must be identified and addressed , and any action plan must be communicated to staff ahead of any office return .
Employers also need to demonstrate how professional cleanliness standards can be effectively maintained in a busy environment .
This not only means daily cleaning visits but regular viral deep cleans to give staff peace of mind .
For smaller businesses , this may sound too expensive , but neighbouring employers could share cleaning visits and cut costs in the process .
Read @ @ @ @ @ @ @ will allow staff to work from home Finally , employers also need to reassure staff that the office is not only safe , but still the lively hub they left six months ago .
In recent weeks , big organisations have been quick to consign staff to working from home for months , years and even indefinitely .
I believe this will come with its own problems , and that we should not underestimate the value of human interaction — after all , the workplace is the third most likely place you will @ @ @ @ @ @ @ may be facing a steep decline , there is an important point here for employers about letting workers know , ahead of any return , that these precautionary steps , while stringent , will not threaten some of the great benefits of the office .
The burden of new cleanliness routines must be carried by the employer and the professional agencies they use , while staff should be reassured that the office will remain a safe , vibrant and stimulating place where workers , especially juniors , can learn , develop and grow @

Employers must reassure staff that offices are not only safe, but the same buzzy environment they left six months ago
(Photo by Hagen Hopkins/Getty Images)
Yesterday, Dame Carolyn Fairbairn, the boss of the CBI, issued a rallying cry to the Prime Minister to do something about Britain’s “ghost towns”. The message was simple — give people confidence to return to the workplace, or the once thriving businesses in the commercial centres of our cities will be doomed.
She is absolutely right — and the government has already responded, with a campaign set to launch next week to get cities moving again, to soothe our ailing economy. But while we need these proactive steps from the government, it’s also up to employers themselves.
Companies need to show that they are militant when it comes to eliminating Covid danger zones, and they need to communicate this to staff before they call them back to the office, offering training for all employees to boost confidence, not only in the new system, but in each other’s ability to adhere to it.
Tackling this first point is not complicated but certainly crucial. The traditional office set-up needs to be re-examined. Rooms must be well ventilated, and each member of staff supplied with sanitising materials. Hot desking is out the window, as is sharing of anything from IT equipment to pens, mugs and certainly finger food like crisps.
Read more: UK firms must return to the office to revive the economy, says CBI boss
Communal areas must be limited to a small number of people at a time, and appliances must be routinely wiped down with anti-bacterial solution. A recent study found 108,000 types of bacteria per square inch on an office kettle, while pens are one of the worst offenders when it comes to office bacteria. These potential Covid threats must be identified and addressed, and any action plan must be communicated to staff ahead of any office return.
Employers also need to demonstrate how professional cleanliness standards can be effectively maintained in a busy environment. This not only means daily cleaning visits but regular viral deep cleans to give staff peace of mind. For smaller businesses, this may sound too expensive, but neighbouring employers could share cleaning visits and cut costs in the process.
Read more: Exclusive: Majority of companies will allow staff to work from home
Finally, employers also need to reassure staff that the office is not only safe, but still the lively hub they left six months ago. In recent weeks, big organisations have been quick to consign staff to working from home for months, years and even indefinitely. I believe this will come with its own problems, and that we should not underestimate the value of human interaction — after all, the workplace is the third most likely place you will meet your partner.
While office romances may be facing a steep decline, there is an important point here for employers about letting workers know, ahead of any return, that these precautionary steps, while stringent, will not threaten some of the great benefits of the office.
The burden of new cleanliness routines must be carried by the employer and the professional agencies they use, while staff should be reassured that the office will remain a safe, vibrant and stimulating place where workers, especially juniors, can learn, develop and grow.
Main image credit: Getty


cityam--2020-08-28--Extinction Rebellion to block London streets in climate change protest

Climate change activist group Extinction Rebellion will block the streets in London next week as they demand that the government addresses the crisis .
Protestors are planning to block roads around parliament on 1 September as they call on MPs to back a climate emergency bill .
Read more : A message from a former Extinction Rebellion activist : Fellow environmentalists , join me in embracing nuclear power Demonstrations will also take place in Manchester and Cardiff .
“ The focus will , I think , more than it has been before , be on those institutions of power , @ @ @ @ @ @ @ Rebellion action coordinator told the Guardian .
“ We ’ re really hoping to have a big show of solidarity , especially on that first day around parliament , and then over the course of a couple of weeks we ’ re hoping to build pressure with our actions.
” Protest plans for the bank holiday weekend and the following weeks include sit-ins , marches and roadblocks around the country .
Activists will hold a “ mad hatter ’ s tea party ” at Gatwick airport to protest against the aviation industry .
@ @ @ @ @ @ @ September the UK Parliament starts re-sitting after the summer : so we ’ re going to make sure they start anew with justice , care and life at the heart of it .
“ From the 1st we will peacefully disrupt the UK Parliament in London , carrying out pressure building actions over two weeks , until they back the Climate and Ecological Emergency Bill and prepare for crisis with a National Citizens ’ Assembly.
” Extinction Rebellion cancelled action that was due to take place in May due to the coronavirus pandemic @

Extinction Rebellion to block London streets in climate change protest
Climate change activist group Extinction Rebellion will block the streets in London next week as they demand that the government addresses the crisis.
Protestors are planning to block roads around parliament on 1 September as they call on MPs to back a climate emergency bill.
Demonstrations will also take place in Manchester and Cardiff.
“The focus will, I think, more than it has been before, be on those institutions of power,” said Anneka Sutcliffe, an Extinction Rebellion action coordinator told the Guardian.
“We’re really hoping to have a big show of solidarity, especially on that first day around parliament, and then over the course of a couple of weeks we’re hoping to build pressure with our actions.”
Protest plans for the bank holiday weekend and the following weeks include sit-ins, marches and roadblocks around the country.
Activists will hold a “mad hatter’s tea party” at Gatwick airport to protest against the aviation industry.
The group said: “On 1 September the UK Parliament starts re-sitting after the summer: so we’re going to make sure they start anew with justice, care and life at the heart of it.
“From the 1st we will peacefully disrupt the UK Parliament in London, carrying out pressure building actions over two weeks, until they back the Climate and Ecological Emergency Bill and prepare for crisis with a National Citizens’ Assembly.”
Extinction Rebellion cancelled action that was due to take place in May due to the coronavirus pandemic.


cityam--2020-08-28--A third of customers overpay for mobile phone contracts, watchdog says

A third of customers are overpaying for mobile phone contracts , with some people paying an extra £400 each year , according to the latest research .
One in three customers are still being charged the full price of their contract even after paying off the cost of their handset .
According to the research by Which , customers of Three were the worst affected as the phone network did not apply any discount to bundled customers when the contracts ended .
Around four in 10 Three customers whose contracts ended in the last six months said they had not @ @ @ @ @ @ @ of the term .
City A.M. has contacted Three for comment .
Which said the mobile phone overpayments were costing UK customers £182m .
In February , regulator Ofcom said providers had 10 to 40 days to start sending end-of-contract notifications for customers coming to the end of their contract .
The mobile networks told Which that they had sent the notifications but some may have been missed .
A quarter of customers said they had not got round to changing providers , a fifth said they were happy with the deal and @ @ @ @ @ @ @ a good deal .
A further one in five said they trusted their provider .
Natalie Hitchins , head of home products and services at Which , said : “ While some mobile firms have taken action to end overpayments , our research suggests that others could do a lot more to ensure that customers are not being exposed to rip-off charges .
“ Ofcom should ensure that all providers are treating their customers fairly and have taken enough steps to stop people overpaying .
“ In the meantime , it is really @ @ @ @ @ @ @ .
If you think you might be out of contract or overpaying , check your phone bills to see if you can save money with a SIM-only deal or with an upgrade to a new phone .
”

A third of customers overpay for mobile phone contracts, watchdog says
A third of customers are overpaying for mobile phone contracts, with some people paying an extra £400 each year, according to the latest research.
One in three customers are still being charged the full price of their contract even after paying off the cost of their handset.
According to the research by Which, customers of Three were the worst affected as the phone network did not apply any discount to bundled customers when the contracts ended.
Around four in 10 Three customers whose contracts ended in the last six months said they had not seen a price drop at the end of the term. City A.M. has contacted Three for comment.
Which said the mobile phone overpayments were costing UK customers £182m.
In February, regulator Ofcom said providers had 10 to 40 days to start sending end-of-contract notifications for customers coming to the end of their contract.
The mobile networks told Which that they had sent the notifications but some may have been missed.
A quarter of customers said they had not got round to changing providers, a fifth said they were happy with the deal and one in five thought they were getting a good deal. A further one in five said they trusted their provider.
Natalie Hitchins, head of home products and services at Which, said: “While some mobile firms have taken action to end overpayments, our research suggests that others could do a lot more to ensure that customers are not being exposed to rip-off charges.
“Ofcom should ensure that all providers are treating their customers fairly and have taken enough steps to stop people overpaying.
“In the meantime, it is really important that customers don’t wait. If you think you might be out of contract or overpaying, check your phone bills to see if you can save money with a SIM-only deal or with an upgrade to a new phone.”


cityam--2020-08-28--Eurozone business confidence picks up as bloc stages recovery

Eurozone businesses became more confident about the economy in August as the bloc gradually recovered from the fallout of the coronavirus pandemic , according to new survey data .
The closely watched Eurozone economic sentiment indicator rose 5.3 points to 87.7 in August , the European Commission said today .
However , sentiment remained well below its long term average , which equals 100 .
In the all-important services sector , companies became markedly more optimistic .
The Commission said this was driven by higher demand .
Yet consumer confidence was virtually unchanged this month .
People said their intentions @ @ @ @ @ @ @ their current financial situation were roughly the same as in July .
It comes as the Eurozone economy gradually reopens after some of the strictest lockdowns in the world .
Coronavirus has battered the bloc , with GDP dropping a record 9.7 per cent in Germany in the second quarter and 13.8 per cent in France .
Overall , the Eurozone economy shrank by 12.1 per cent in the second quarter .
Melanie Debono , Europe economist at consultancy Capital Economics , pointed out that the rise in the headline sentiment index was @ @ @ @ @ @ @ .
“ This adds to the evidence that while the economy was probably still expanding , it has slowed sharply compared to June and July , ” she said .
There were other signs that the recovery is slowing down .
Services firms ’ expectations of future demand slipped for the first time in four months and confidence in the construction sector fell slightly .
However , confidence among firms in the retail sector grew relatively rapidly , boding well for the bloc ’ s consumer-driven economies .
Debono said Capital Economics does @ @ @ @ @ @ @ second-quarter drop in the third quarter .
“ We remain happy with our forecast that Eurozone GDP will contract by around 7.5 per cent over 2020 as a whole .
”

Eurozone business confidence picks up as bloc stages recovery
European capitals such as Paris have reopened after the strict lockdowns of the spring
Eurozone businesses became more confident about the economy in August as the bloc gradually recovered from the fallout of the coronavirus pandemic, according to new survey data.
The closely watched Eurozone economic sentiment indicator rose 5.3 points to 87.7 in August, the European Commission said today. However, sentiment remained well below its long term average, which equals 100.
In the all-important services sector, companies became markedly more optimistic. The Commission said this was driven by higher demand.
Yet consumer confidence was virtually unchanged this month. People said their intentions to make big purchases and perception of their current financial situation were roughly the same as in July.
It comes as the Eurozone economy gradually reopens after some of the strictest lockdowns in the world.
Coronavirus has battered the bloc, with GDP dropping a record 9.7 per cent in Germany in the second quarter and 13.8 per cent in France. Overall, the Eurozone economy shrank by 12.1 per cent in the second quarter.
Signs that Eurozone recovery is slowing
Melanie Debono, Europe economist at consultancy Capital Economics, pointed out that the rise in the headline sentiment index was smaller than in the previous two months.
“This adds to the evidence that while the economy was probably still expanding, it has slowed sharply compared to June and July,” she said.
There were other signs that the recovery is slowing down. Services firms’ expectations of future demand slipped for the first time in four months and confidence in the construction sector fell slightly.
However, confidence among firms in the retail sector grew relatively rapidly, boding well for the bloc’s consumer-driven economies.
Debono said Capital Economics does not think the Eurozone will reverse its second-quarter drop in the third quarter.
“We remain happy with our forecast that Eurozone GDP will contract by around 7.5 per cent over 2020 as a whole.”


cityam--2020-08-28--Campaigners call for £270m emergency help for renters amid pandemic

Campaigners are urging the government to provide emergency financial help to renters in England who have fallen into arrears as a result of the pandemic .
Housing charities and groups representing landlords and letting agents are calling for £270m worth of loans and grants for tenants struggling to pay rent , to prevent homelessness .
Six organisations , including Shelter , Crisis and Citizens Advice , have joined forces to call for a short-term package of emergency grants and loans to help renters who have lost out on income or been furloughed .
A YouGov survey commissioned by Shelter shows @ @ @ @ @ @ @ England have now fallen behind in their payments .
And despite the evictions ban , which ends in just over three weeks , existing research shows more than 170,000 private tenants have already been threatened with eviction by their landlord or letting agent .
The groups are urging the government to provide ring-fenced grants for renters already in receipt of government benefits , or those who would be eligible but have no recourse to public funds , to be distributed by local councils .
They are also campaigning for government-backed interest free loans @ @ @ @ @ @ @ pay them back , such as those who have been furloughed or are struggling to currently pay rent but will be able to in the future .
Polly Neate , chief executive of Shelter said : “ Our services have been deluged with calls from worried families and workers plunged unexpectedly into debt .
When the ban lifts , their ability to clear Covid-arrears will be critical if they are to stay safe in their homes.
” “ We simply can not afford to lurch into another devastating homelessness crisis now that will @ @ @ @ @ @ @ ’ s economic recovery .
This one-off opportunity to provide emergency relief to those renters most in need must not be missed.
” Read more : London commercial rents set to slump amid ‘ drastic ’ change to market Her calls were echoed by others , including the National Residential Landlords Association and campaign group Generation Rent .
Alicia Kennedy , director at the campaign group , said : “ Generation Rent hears daily from renters who have lost income due to the pandemic and are terrified of losing their homes .
Grants @ @ @ @ @ @ @ will be able to stay safely in their homes this winter , while the country recovers from the economic shock of Covid-19 .
”

Campaigners call for £270m emergency help for renters amid pandemic
Working from home
Campaigners are urging the government to provide emergency financial help to renters in England who have fallen into arrears as a result of the pandemic.
Housing charities and groups representing landlords and letting agents are calling for £270m worth of loans and grants for tenants struggling to pay rent, to prevent homelessness.
Six organisations, including Shelter, Crisis and Citizens Advice, have joined forces to call for a short-term package of emergency grants and loans to help renters who have lost out on income or been furloughed.
A YouGov survey commissioned by Shelter shows nearly four per cent of renters in England have now fallen behind in their payments.
And despite the evictions ban, which ends in just over three weeks, existing research shows more than 170,000 private tenants have already been threatened with eviction by their landlord or letting agent.
The groups are urging the government to provide ring-fenced grants for renters already in receipt of government benefits, or those who would be eligible but have no recourse to public funds, to be distributed by local councils.
They are also campaigning for government-backed interest free loans for other renters who can afford to pay them back, such as those who have been furloughed or are struggling to currently pay rent but will be able to in the future.
Polly Neate, chief executive of Shelter said: “Our services have been deluged with calls from worried families and workers plunged unexpectedly into debt. When the ban lifts, their ability to clear Covid-arrears will be critical if they are to stay safe in their homes.”
“We simply cannot afford to lurch into another devastating homelessness crisis now that will ruin countless lives and undermine the country’s economic recovery. This one-off opportunity to provide emergency relief to those renters most in need must not be missed.”
Her calls were echoed by others, including the National Residential Landlords Association and campaign group Generation Rent.
Alicia Kennedy, director at the campaign group, said: “Generation Rent hears daily from renters who have lost income due to the pandemic and are terrified of losing their homes. Grants would ensure renters struggling with rent debt will be able to stay safely in their homes this winter, while the country recovers from the economic shock of Covid-19.”


cityam--2020-08-28--Norwegian Air says it needs more cash as losses mount

Norwegian Air was battered by the coronavirus pandemic in the first half , with its pre-tax loss amounting to $ 544m ( 4.79bn Norwegian krone or £409m ) .
The airline said it faced “ challenging times ahead ” as it released its results , and said it needs more cash to see it through Covid-19 .
Read more : Norwegian Air loss deepens after carrier clings on Norwegian Air ’ s fell to a pre-tax loss of $ 544m in the first half of the year .
That was down from a loss of $ 160m krone in the @ @ @ @ @ @ @ the airline ’ s total loss to $ 617m in the first half .
Its operating revenue slumped to $ 811m in the first half from $ 2.29bn a year earlier .
Norway ’ s biggest airline has , like the rest of the aviation industry , been hit hard by the coronavirus pandemic .
As governments moved to lock down in March and April , global travel almost ground to a halt .
Norwegian ’ s results come after Virgin Atlantic Airways filed for bankruptcy protection in the US earlier this month @ @ @ @ @ @ @ thousands of staff while the US ’ s American , United and Delta airlines have also announced big job cuts .
Creditors took control of Norwegian in May .
The move allowed the embattled carrier to access state funds .
Yet the airline today said that the government loan guarantee “ is not enough to get through this prolonged crisis ” .
Read more : Donald Trump ready to take executive action to save airline jobs , says White House Norwegian said it would put five more planes back in action in September @ @ @ @ @ @ @ “ The situation is evolving rapidly , and it is unclear how the virus will continue to develop or when the airline industry , and thus the company , will see a recovery to baseline levels , ” it said .

Norwegian Air says it needs more cash as losses mount
Creditors took control of Norwegian Air in May
Norwegian Air was battered by the coronavirus pandemic in the first half, with its pre-tax loss amounting to $544m (4.79bn Norwegian krone or £409m).
The airline said it faced “challenging times ahead” as it released its results, and said it needs more cash to see it through Covid-19.
The figures
Norwegian Air’s fell to a pre-tax loss of $544m in the first half of the year. That was down from a loss of $160m krone in the same period in 2019.
It took the airline’s total loss to $617m in the first half.
Its operating revenue slumped to $811m in the first half from $2.29bn a year earlier.
Why it’s interesting
Norway’s biggest airline has, like the rest of the aviation industry, been hit hard by the coronavirus pandemic. As governments moved to lock down in March and April, global travel almost ground to a halt.
Norwegian’s results come after Virgin Atlantic Airways filed for bankruptcy protection in the US earlier this month.
British Airways is planning to sack thousands of staff while the US’s American, United and Delta airlines have also announced big job cuts.
Creditors took control of Norwegian in May. The move allowed the embattled carrier to access state funds.
What Norwegian Air said
Yet the airline today said that the government loan guarantee “is not enough to get through this prolonged crisis”.
Norwegian said it would put five more planes back in action in September, bringing the total to 25.
“The situation is evolving rapidly, and it is unclear how the virus will continue to develop or when the airline industry, and thus the company, will see a recovery to baseline levels,” it said.


cityam--2020-08-28--Amigo shares rise as founder pushes for takeover

Shares in subprime loan business Amigo Holdings rose 14 per cent this morning after founder James Benamor last night called for investors to back his return to the company .
Benamor said he had made an irrevocable bid for 29 per cent of the company at 20 pence per share , to be executed if he is appointed as chief executive .
Read more : Amigo Loans chief exec threatens to resign if former boss rejoins company Benamor , who stepped away from the company after it listed in 2018 , has been publicly arguing with the company ’ s @ @ @ @ @ @ @ .
The lender , which provides loans to borrowers who struggle to obtain credit from mainstream lenders if a friend or family member can act as a guarantor for them , today reported a more than 80 per cent drop in profit in the first quarter .
Amigo is being investigated by the Financial Conduct Authority ( FCA ) over how it assesses the creditworthiness of customers , and has stopped almost all lending amid the coronavirus pandemic and the probe .
Benamor called for a shareholder vote to oust finance director Nayan @ @ @ @ @ @ @ as well as to reinstate himself as chief executive .
Read more : Amigo Loans swings to a loss after huge complaints bill The firm said it could not provide guidance on its expected performance this year , and reiterated that the impact of the pandemic and the FCA investigation meant there is uncertainty over its ability to continue as a going concern .
Analysts said Benamor ’ s commitment to buy at 20 pence per share was behind the rise in the embattled lender ’ s stock , which rose to near @ @ @ @ @ @ @ It was at 13.5p at the time of writing .

Amigo shares rise as founder pushes for takeover
Shares in subprime loan business Amigo Holdings rose 14 per cent this morning after founder James Benamor last night called for investors to back his return to the company.
Benamor said he had made an irrevocable bid for 29 per cent of the company at 20 pence per share, to be executed if he is appointed as chief executive.
Benamor, who stepped away from the company after it listed in 2018, has been publicly arguing with the company’s management over strategy since late last year.
The lender, which provides loans to borrowers who struggle to obtain credit from mainstream lenders if a friend or family member can act as a guarantor for them, today reported a more than 80 per cent drop in profit in the first quarter.
Amigo is being investigated by the Financial Conduct Authority (FCA) over how it assesses the creditworthiness of customers, and has stopped almost all lending amid the coronavirus pandemic and the probe.
Benamor called for a shareholder vote to oust finance director Nayan Kisnadwala and board member Roger Lovering, as well as to reinstate himself as chief executive.
The firm said it could not provide guidance on its expected performance this year, and reiterated that the impact of the pandemic and the FCA investigation meant there is uncertainty over its ability to continue as a going concern.
Analysts said Benamor’s commitment to buy at 20 pence per share was behind the rise in the embattled lender’s stock, which rose to near 16p from its 12p close yesterday. It was at 13.5p at the time of writing.


cityam--2020-08-28--Japanese PM Shinzo Abe resigns for health reasons

Japanese Prime Minister Shinzo Abe has confirmed his resignation due to his deteriorating health , sparking a fall in Tokyo stock prices and a rise in the yen .
“ I can not be prime minister if I can not make the best decisions for the people .
I have decided to step down from my post , ” Abe told reporters .
Read more : Exclusive : UK-Japan trade deal in doubt for Monday ’ s deadline The 65-year-old told citizens he apologised “ from the bottom of his heart ” for not being able to fulfil his duties @ @ @ @ @ @ @ s longest serving prime minister , has suffered from the disease ulcerative colitis for a number of years .
But two recent hospital visits in one week sparked questions about whether he could stay in the job until the end of his term , which had been due to end in September 2021 .
Japan ’ s benchmark Nikkei fell 1.4 per cent after the departure was confirmed .
Abe ’ s resignation will trigger a leadership race in the Liberal Democratic Party , the winner of which must be formally elected in @ @ @ @ @ @ @ elected to a second term in December 2012 , promising a mix of his trademark easy monetary policy , fiscal spending and reforms .
Read more : Japan ’ s economy shrinks at record pace as coronavirus wipes out ‘ Abenomics ’ gains On Monday Abe surpassed the record for the country ’ s longest serving prime minister , which was set by his great uncle Eisaku Sato 50 years ago .
But he has come under fire for his handling of the coronavirus pandemic and has seen his support fall to one @ @ @ @ @ @ @ .

Japanese PM Shinzo Abe resigns for health reasons
Japanese Prime Minister Shinzo Abe has confirmed his resignation due to his deteriorating health, sparking a fall in Tokyo stock prices and a rise in the yen.
“I cannot be prime minister if I cannot make the best decisions for the people. I have decided to step down from my post,” Abe told reporters.
The 65-year-old told citizens he apologised “from the bottom of his heart” for not being able to fulfil his duties.
Abe, who is Japan’s longest serving prime minister, has suffered from the disease ulcerative colitis for a number of years.
But two recent hospital visits in one week sparked questions about whether he could stay in the job until the end of his term, which had been due to end in September 2021.
Japan’s benchmark Nikkei fell 1.4 per cent after the departure was confirmed.
Abe’s resignation will trigger a leadership race in the Liberal Democratic Party, the winner of which must be formally elected in parliament.
The conservative prime minister was elected to a second term in December 2012, promising a mix of his trademark easy monetary policy, fiscal spending and reforms.
On Monday Abe surpassed the record for the country’s longest serving prime minister, which was set by his great uncle Eisaku Sato 50 years ago.
But he has come under fire for his handling of the coronavirus pandemic and has seen his support fall to one of the lowest levels of his tenure.


cityam--2020-08-28--The nation's health is priority number one, but we must continue the great work we've done to reduce

The nation's health is priority number one, but we must continue the great work we've done to reduce plastics use

Recent government figures revealed that since the introduction of the 5p carrier bag charge , new carrier bag sales have fallen by 59 per cent in the past year in England ’ s major supermarkets .
This translates to shoppers buying , on average , just four new bags per year compared to 10 the previous year .
This is a significant drop , but it ’ s only when comparing to figures from 2014 that our progress is really shown , with shoppers back then taking an average of 140 bags per year .
This is a monumental stepchange @ @ @ @ @ @ @ since the introduction of the 5p charge in 2015 .
And although many may still feel aggrieved they have to pay for the privilege of accessing a service that used to be complementary , it clearly has proven a successful motivator in changing people ’ s behaviour , if not everyone ’ s mindset .
Read more : Waitrose hires ex-Sainsbury ’ s director as new boss At the start of 2020 , we saw this behavioural shift in full flow in our stores — with record numbers entering with their reusable bags @ @ @ @ @ @ @ of our Waitrose Unpacked trial in July last year and our broad reduction of single-use plastics , the future looked truly bright .
But then Covid-19 took hold of the world .
It not only consumed millions of us , it understandably shifted our priorities to the safety of ourselves and our loved ones .
And in that shift in priorities , almost overnight , plastic went from social pariah to guardian — protective equipment such as masks , gloves and bottles of sanitiser are now a necessary barrier to shield ourselves and @ @ @ @ @ @ @ .
Although this is a necessary use , sadly , it ’ s not taken long to see examples of protective gear discarded in our natural environment , with cases reported of masks and plastic gloves being left in our parks and on our beaches .
Read more : Are we heading back towards single-use plastic because of coronavirus ?
These are unprecedented times , and there has been an understandable increase in the use of single-use plastics throughout Covid-19 .
However , we must all be accountable for our own actions and @ @ @ @ @ @ @ far as to compromise the great steps we have taken in the last few years .
The health of our society will always be paramount .
This is why we took measures prior to the peak of the pandemic to protect our partners and customers — from postponing our bagless delivery trial , to introducing social distancing measures and a fixed time for elderly and vulnerable shoppers to enter our stores early on in the pandemic .
We simply don ’ t know how long this pandemic will last , and while our @ @ @ @ @ @ @ wellbeing , because of this fact , they have also told us that they want us to continue , where possible , to reduce our use of unnecessary plastics .
Indeed , in recent research , despite some members of the public claiming their view on plastics had changed as a result of Covid-19 , over half said they wanted supermarkets to continue to prioritise the reduction of unnecessary plastics use .
This is why we have taken the decision to reintroduce our recycling collection service of carrier bags for all Waitrose.com deliveries @ @ @ @ @ @ @ carrier bags to their delivery driver from 17 August — something we strongly believe is the right thing to do .
Read more : A CEO ’ s guide to reaching net zero carbon emissions The safety of our customers and partners will always be our first priority .
This means that we will without hesitation take any safety measures we need to in order to protect them .
But long term , our ambition remains the same .
We have already made significant milestones .
We have halved our packaging by almost @ @ @ @ @ @ @ reduced plastic packaging made from hard-to-recycle black materials ; we introduced the world ’ s first compostable ready-meal tray , and we ’ ve invested heavily in helping organisations like the Marine Conservation Society clean up litter from discarded bottles and cans on our beaches .
These are significant achievements , but they represent just the start .
We stand firm by our pledge that by 2023 , all our own-brand packaging is reusable , widely recyclable or home compostable , and the recommencement of our recycling collection service is a signal of @ @ @ @ @ @ @ and as a nation , we ’ ve made historic progress to reduce our reliance on single-use plastics , and we must do all we can to ensure we keep on the right path .

The nation’s health is priority number one, but we must continue the great work we’ve done to reduce plastics use
Recent government figures revealed that since the introduction of the 5p carrier bag charge, new carrier bag sales have fallen by 59 per cent in the past year in England’s major supermarkets. This translates to shoppers buying, on average, just four new bags per year compared to 10 the previous year.
This is a significant drop, but it’s only when comparing to figures from 2014 that our progress is really shown, with shoppers back then taking an average of 140 bags per year.
This is a monumental stepchange revealing that significant progress has been made since the introduction of the 5p charge in 2015. And although many may still feel aggrieved they have to pay for the privilege of accessing a service that used to be complementary, it clearly has proven a successful motivator in changing people’s behaviour, if not everyone’s mindset.
Read more: Waitrose hires ex-Sainsbury’s director as new boss
At the start of 2020, we saw this behavioural shift in full flow in our stores — with record numbers entering with their reusable bags and cups. And with the launch of our Waitrose Unpacked trial in July last year and our broad reduction of single-use plastics, the future looked truly bright.
But then Covid-19 took hold of the world.
It not only consumed millions of us, it understandably shifted our priorities to the safety of ourselves and our loved ones. And in that shift in priorities, almost overnight, plastic went from social pariah to guardian — protective equipment such as masks, gloves and bottles of sanitiser are now a necessary barrier to shield ourselves and others from the potential spread of coronavirus.
Although this is a necessary use, sadly, it’s not taken long to see examples of protective gear discarded in our natural environment, with cases reported of masks and plastic gloves being left in our parks and on our beaches.
Read more: Are we heading back towards single-use plastic because of coronavirus?
These are unprecedented times, and there has been an understandable increase in the use of single-use plastics throughout Covid-19. However, we must all be accountable for our own actions and ensure that we do not regress so far as to compromise the great steps we have taken in the last few years.
The health of our society will always be paramount. This is why we took measures prior to the peak of the pandemic to protect our partners and customers — from postponing our bagless delivery trial, to introducing social distancing measures and a fixed time for elderly and vulnerable shoppers to enter our stores early on in the pandemic.
We simply don’t know how long this pandemic will last, and while our customers continue to be concerned about their wellbeing, because of this fact, they have also told us that they want us to continue, where possible, to reduce our use of unnecessary plastics.
Indeed, in recent research, despite some members of the public claiming their view on plastics had changed as a result of Covid-19, over half said they wanted supermarkets to continue to prioritise the reduction of unnecessary plastics use.
This is why we have taken the decision to reintroduce our recycling collection service of carrier bags for all Waitrose.com deliveries, with customers able to return old carrier bags to their delivery driver from 17 August — something we strongly believe is the right thing to do.
Read more: A CEO’s guide to reaching net zero carbon emissions
The safety of our customers and partners will always be our first priority. This means that we will without hesitation take any safety measures we need to in order to protect them.
But long term, our ambition remains the same. We have already made significant milestones. We have halved our packaging by almost 50 per cent; we have substantially reduced plastic packaging made from hard-to-recycle black materials; we introduced the world’s first compostable ready-meal tray, and we’ve invested heavily in helping organisations like the Marine Conservation Society clean up litter from discarded bottles and cans on our beaches.
These are significant achievements, but they represent just the start.
We stand firm by our pledge that by 2023, all our own-brand packaging is reusable, widely recyclable or home compostable, and the recommencement of our recycling collection service is a signal of that intent.
Both as a business and as a nation, we’ve made historic progress to reduce our reliance on single-use plastics, and we must do all we can to ensure we keep on the right path.
Main image credit: Getty


cityam--2020-08-28--FTSE 100 falls but US stocks rise as markets weigh up Fed changes

The FTSE 100 dropped in afternoon trading but US stocks rose as investors digested the US Federal Reserve ’ s decision to take a more relaxed approach to inflation , a step that supported Wall Street stocks last night .
London ’ s main stock index fell 0.4 per cent to 5,977 points .
The FTSE 250 of mid-sized firms climbed 0.1 per cent , however .
Read more : Fed to tolerate higher inflation in major policy shift In the US , the S & P 500 rose 0.2 per cent .
The tech-heavy Nasdaq climbed 0.6 per cent @ @ @ @ @ @ @ .
The dollar hit a new two-year low as the Japanese yen jumped .
Germany ’ s Dax slipped 0.5 per cent .
Meanwhile , the Europe-wide Stoxx 600 also dropped 0.5 per cent .
The US Federal Reserve yesterday unveiled a new approach to inflation , under which it will tolerate periods when inflation runs above two per cent , so as to counterbalance those times when it runs below two per cent .
The Fed also announced a more relaxed approach to employment .
It said it would be more tolerant @ @ @ @ @ @ @ it may once have feared it would drive up inflation .
Analysts said the shifts showed the Fed was planning to keep rates at close to record lows for the foreseeable future .
Investors were also taking in Japanese Prime Minister Shinzo Abe ’ s announcement that he will resign due to health concerns .
Japan ’ s Nikkei 225 dropped 1.4 per cent after officials trailed the news overnight .
The FTSE 100 was weighed down by advertising firm WPP , packaging company DS Smith and jet engine-maker Rolls Royce .
They @ @ @ @ @ @ @ as investors went off London stocks .
“ The hangover from Powell ’ s speech yesterday has seen European markets give up initial gains , ” said Chris Beauchamp , chief market analyst at trading platform IG .
He said the FTSE 100 continued to be a “ serial underperformer ” , struggling “ desperately to hold 6,000 , having closed below it yesterday ” .
Read more : UK records highest number of new coronavirus cases since June “ Still , the Fed ’ s shift to a different policy offers the @ @ @ @ @ @ @ equities in general , even if the policy is rather light on detail at present.
” The FTSE 100 is just days away from its quarterly reshuffle that is likely to see telly stalwart ITV booted out of the index .
Analysts said bargain retailer B & M is likely to replace it , having benefited from a squeeze in incomes .
The Fed ’ s steps , announced by chair Jay Powell at the virtual Jackson Hole economic policy symposium , broadly supported US stocks last night and that continued today .
@ @ @ @ @ @ @ enough to boost appetite in US stocks , ” said Ipek Ozkardeskaya , senior analyst at Swissquote Bank .
However , the dollar slipped to its lowest price in almost two-and-a-half years , dropping 0.6 per cent on an index of other currencies .
The announcement that Japanese PM Shinzo Abe will resign due to health concers pushed up the yen dramatically , sending the dollar lower .
The yen is considered a safe-haven at times of market stress .
Read more : UK records highest number of new coronavirus cases since June @ @ @ @ @ @ @ pound jump 0.8 per cent to climb above $ 1.33 for the first time in 2020 .
The pound ’ s climb has weighed on the FTSE 100 .
“ A bear steepening in the US bond market has done nothing to support the dollar which is set to end the week down against everything except the Argentine peso , ” said Kit Juckes of Societe Generale .

FTSE 100 falls but US stocks rise as markets weigh up Fed changes
The FTSE 100 dropped in afternoon trading but US stocks rose as investors digested the US Federal Reserve’s decision to take a more relaxed approach to inflation, a step that supported Wall Street stocks last night.
London’s main stock index fell 0.4 per cent to 5,977 points. The FTSE 250 of mid-sized firms climbed 0.1 per cent, however.
Read more: Fed to tolerate higher inflation in major policy shift
In the US, the S&P 500 rose 0.2 per cent. The tech-heavy Nasdaq climbed 0.6 per cent and the Dow gained 0.1 per cent. The dollar hit a new two-year low as the Japanese yen jumped.
Germany’s Dax slipped 0.5 per cent. Meanwhile, the Europe-wide Stoxx 600 also dropped 0.5 per cent.
The US Federal Reserve yesterday unveiled a new approach to inflation, under which it will tolerate periods when inflation runs above two per cent, so as to counterbalance those times when it runs below two per cent.
The Fed also announced a more relaxed approach to employment. It said it would be more tolerant of a booming jobs market, when it may once have feared it would drive up inflation.
Analysts said the shifts showed the Fed was planning to keep rates at close to record lows for the foreseeable future.
Investors were also taking in Japanese Prime Minister Shinzo Abe’s announcement that he will resign due to health concerns. Japan’s Nikkei 225 dropped 1.4 per cent after officials trailed the news overnight.
FTSE 100 a ‘serial underperformer’
The FTSE 100 was weighed down by advertising firm WPP, packaging company DS Smith and jet engine-maker Rolls Royce. They each shed more than two per cent as investors went off London stocks.
“The hangover from Powell’s speech yesterday has seen European markets give up initial gains,” said Chris Beauchamp, chief market analyst at trading platform IG.
He said the FTSE 100 continued to be a “serial underperformer”, struggling “desperately to hold 6,000, having closed below it yesterday”.
“Still, the Fed’s shift to a different policy offers the hope of a continued congenial outlook for equities in general, even if the policy is rather light on detail at present.”
The FTSE 100 is just days away from its quarterly reshuffle that is likely to see telly stalwart ITV booted out of the index. Analysts said bargain retailer B&M is likely to replace it, having benefited from a squeeze in incomes.
US stocks outstrip FTSE 100
The Fed’s steps, announced by chair Jay Powell at the virtual Jackson Hole economic policy symposium, broadly supported US stocks last night and that continued today.
“Powell’s speech was dovish enough to boost appetite in US stocks,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
However, the dollar slipped to its lowest price in almost two-and-a-half years, dropping 0.6 per cent on an index of other currencies.
The announcement that Japanese PM Shinzo Abe will resign due to health concers pushed up the yen dramatically, sending the dollar lower. The yen is considered a safe-haven at times of market stress.
Read more: UK records highest number of new coronavirus cases since June
The greenback’s fall helped the pound jump 0.8 per cent to climb above $1.33 for the first time in 2020. The pound’s climb has weighed on the FTSE 100.
“A bear steepening in the US bond market has done nothing to support the dollar which is set to end the week down against everything except the Argentine peso,” said Kit Juckes of Societe Generale.