cityam--2020-07-30--Facebook smashes revenue expectations as more people login in lockdown

Social media behemoth Facebook has smashed analyst expectations in the second quarter , beating predictions for advertising revenue , earnings per share and user numbers .
Shares in the social network shot up 7.8 per cent in after hours trading .
Read more : Amazon blows past estimates in revenue and profit beat In total , revenue rose from $ 16.9bn last year to $ 18.7bn in the past three months , ahead of analyst forecasts of $ 17.4bn .
The firm said that it expected ad revenue growth in the third quarter to be in line with this performance @ @ @ @ @ @ @ .
Monthly active users grew to 2.7bn in the quarter , ahead of estimates of 2.6bn , and a 12 per cent increase year-on-year .
Before the Open newsletter : Start your day with the City View podcast and key market data Facebook said that the increase in users was due to the coronavirus lockdowns , which saw people use more of their products to keep connected to people and organisations while remaining at home .
“ We ’ re glad to be able to provide small businesses the tools they need to @ @ @ @ @ @ @ challenging times , ” said founder and chief executive Mark Zuckerberg .
“ And we ’ re proud that people can rely on our services to stay connected when they can ’ t always be together in person.
” Read more : Big Tech vs Congress live : Facebook , Google , Apple and Amazon face Washington grilling Earnings per share rose to $ 1.80 , beating forecasts of $ 1.40 .
Facebook ’ s results came a day after Zuckerberg appeared before Congress alongside the bosses of fellow tech titans Google , @ @ @ @ @ @ @ over their domination of the market .

Facebook smashes revenue expectations as more people login in lockdown
Social media behemoth Facebook has smashed analyst expectations in the second quarter, beating predictions for advertising revenue, earnings per share and user numbers.
Shares in the social network shot up 7.8 per cent in after hours trading.
In total, revenue rose from $16.9bn last year to $18.7bn in the past three months, ahead of analyst forecasts of $17.4bn.
The firm said that it expected ad revenue growth in the third quarter to be in line with this performance, based on July’s performance.
Monthly active users grew to 2.7bn in the quarter, ahead of estimates of 2.6bn, and a 12 per cent increase year-on-year.
Before the Open newsletter: Start your day with the City View podcast and key market data
Facebook said that the increase in users was due to the coronavirus lockdowns, which saw people use more of their products to keep connected to people and organisations while remaining at home.
“We’re glad to be able to provide small businesses the tools they need to grow and be successful online during these challenging times,” said founder and chief executive Mark Zuckerberg.
“And we’re proud that people can rely on our services to stay connected when they can’t always be together in person.”
Earnings per share rose to $1.80, beating forecasts of $1.40.
Facebook’s results came a day after Zuckerberg appeared before Congress alongside the bosses of fellow tech titans Google, Amazon and Apple to face a grilling over their domination of the market.
More to follow.


cityam--2020-07-30--Amazon blows past estimates in revenue and profit beat

Amazon surprised investors as it beat analyst estimates for second-quarter revenue and profit by a long shot , sealing off a strong quarter for the e-commerce retailer .
Amazon reported a net income of $ 5.2bn in the second quarter , or $ 10.30 per diluted share , doubling its profit from a year earlier of $ 2.6bn .
Analysts had been expecting earnings per share of just $ 1.46 , marking a major surprise on Wall Street .
Meanwhile net sales came in at $ 88.9bn , compared to consensus projections of $ 81.24bn and rising 40 per cent @ @ @ @ @ @ @ Read more : Amazon rolls out free grocery deliveries for Prime customers Three months earlier , Amazon boss Jeff Bezos had said he wasn ’ t sure if the e-commerce giant would make it through the coronavirus pandemic without reporting a loss .
Its shares jumped more than six per cent in after-hours trading .
The company forecast net sales of $ 87bn to $ 93bn for the third quarter .
Analysts on average were expecting revenue of $ 86.34bn , according to IBES data from Refinitiv .
Amazon ’ s cloud services @ @ @ @ @ @ @ to virtual offices due to the spread of the pandemic .
Revenue from Amazon Web Services ( AWS ) , which sells data storage and computing power in the cloud , surged nearly 29 per cent to $ 10.81bn .
The results follow the testimony of Bezos yesterday in front of Congress yesterday , at which he was probed by politicians on Amazon ’ s seller policies and treatment of third parties on its marketplace platform .
Read more : Big Tech vs Congress live : Facebook , Google , Apple and Amazon @ @ @ @ @ @ @ not deny the statements made in an April newspaper report , which said Amazon uses data it gains from third-party sellers on its marketplace to inform its own product strategy .
One US representative said the committee ’ s own investigation had found Amazon uses aggregate data to gain access to highly detailed information on smaller product categories so it can exploit it for its own competing products .
Bezos said he was looking into the report “ carefully ” , but that it had “ not yet gotten to the bottom of @ @ @

Amazon blows past estimates in revenue and profit beat
Amazon surprised investors as it beat analyst estimates for second-quarter revenue and profit by a long shot, sealing off a strong quarter for the e-commerce retailer.
Amazon reported a net income of $5.2bn in the second quarter, or $10.30 per diluted share, doubling its profit from a year earlier of $2.6bn.
Analysts had been expecting earnings per share of just $1.46, marking a major surprise on Wall Street.
Meanwhile net sales came in at $88.9bn, compared to consensus projections of $81.24bn and rising 40 per cent from $63.4bn a year earlier.
Three months earlier, Amazon boss Jeff Bezos had said he wasn’t sure if the e-commerce giant would make it through the coronavirus pandemic without reporting a loss.
Its shares jumped more than six per cent in after-hours trading.
The company forecast net sales of $87bn to $93bn for the third quarter. Analysts on average were expecting revenue of $86.34bn, according to IBES data from Refinitiv.
Amazon’s cloud services also saw strong demand as companies switched to virtual offices due to the spread of the pandemic.
Revenue from Amazon Web Services (AWS), which sells data storage and computing power in the cloud, surged nearly 29 per cent to $10.81bn.
The results follow the testimony of Bezos yesterday in front of Congress yesterday, at which he was probed by politicians on Amazon’s seller policies and treatment of third parties on its marketplace platform.
Under questioning he did not deny the statements made in an April newspaper report, which said Amazon uses data it gains from third-party sellers on its marketplace to inform its own product strategy.
One US representative said the committee’s own investigation had found Amazon uses aggregate data to gain access to highly detailed information on smaller product categories so it can exploit it for its own competing products.
Bezos said he was looking into the report “carefully”, but that it had “not yet gotten to the bottom of it”.


cityam--2020-07-30--Government imposes quarantine on travellers from Luxembourg

The government has imposed a 14-day quarantine on people returning from Luxembourg after an increase in the number of coronavirus cases in the country .
In a statement this evening , ministers said that from midnight tonight those arriving from the country would have to self-isolate for 14 days .
Read more : Belgium and Croatia may be next on UK ’ s quarantine list It said that there had been “ a consistent increase in Covid-19 cases per 100,000 of the population in Luxembourg since the end of June , with over a tenfold increase in total cases over @ @ @ @ @ @ @ same time , The Foreign & Commonwealth Office ( FCO ) has also updated its travel advice for Luxembourg to advise against all but essential travel to the country .
Earlier today Scottish authorities imposed the same restrictions , which are due to come into effect at midnight tonight .
Luxembourg was previously on the list of countries exempt from the requirement for travellers to self-isolate .
The UK has already said that all those returning from Spain must quarantine for 14 days after a spike in infections in the country .
It @ @ @ @ @ @ @ to impose further restrictions on other countries if it feels it is necessary to do so .
Before the Open newsletter : Start your day with the City View podcast and key market data Prime Minister Boris Johnson has warned people that the recent surge in cases in Europe had shown that the pandemic was not over yet .
“ It is absolutely vital as a country that we continue to keep our focus and our discipline , and that we don ’ t delude ourselves that somehow we are out of the @ @ @ @ @ @ @ , because it isn ’ t all over ” , he said .
Speaking to Sky News earlier today , health secretary Matt Hancock warned that Brits should expect further restrictions to be implemented in the coming days .
Read more : Matt Hancock : Quarantine could return as second wave hits Europe He named France as one country where infections had increased in the past few days .
Yesterday there were nearly 1,400 new confirmed cases in France , while there were 846 in the UK today , the highest total since @ @ @ @ @ @ @ looking at applying similar quarantine restrictions to people coming from Belgium and Croatia .

Government imposes quarantine on travellers from Luxembourg
The government has imposed a 14-day quarantine on people returning from Luxembourg after an increase in the number of coronavirus cases in the country.
In a statement this evening, ministers said that from midnight tonight those arriving from the country would have to self-isolate for 14 days.
It said that there had been “a consistent increase in Covid-19 cases per 100,000 of the population in Luxembourg since the end of June, with over a tenfold increase in total cases over this time period”.
At the same time, The Foreign & Commonwealth Office (FCO) has also updated its travel advice for Luxembourg to advise against all but essential travel to the country.
Earlier today Scottish authorities imposed the same restrictions, which are due to come into effect at midnight tonight.
Luxembourg was previously on the list of countries exempt from the requirement for travellers to self-isolate.
The UK has already said that all those returning from Spain must quarantine for 14 days after a spike in infections in the country.
It has said that it will not hesitate to impose further restrictions on other countries if it feels it is necessary to do so.
Before the Open newsletter: Start your day with the City View podcast and key market data
Prime Minister Boris Johnson has warned people that the recent surge in cases in Europe had shown that the pandemic was not over yet.
“It is absolutely vital as a country that we continue to keep our focus and our discipline, and that we don’t delude ourselves that somehow we are out of the woods or that that is all over, because it isn’t all over”, he said.
Speaking to Sky News earlier today, health secretary Matt Hancock warned that Brits should expect further restrictions to be implemented in the coming days.
He named France as one country where infections had increased in the past few days. Yesterday there were nearly 1,400 new confirmed cases in France, while there were 846 in the UK today, the highest total since 28 June.
Downing Street is reportedly looking at applying similar quarantine restrictions to people coming from Belgium and Croatia.


cityam--2020-07-30--UK reports highest number of new coronavirus cases since June

The UK this evening reported its highest number of new coronavirus cases in over a month amid rising concerns over a potential second wave of the virus .
There were 846 new confirmed infections recorded today , the largest amount since 28 June .
Read more : Government set to impose quarantine on travellers from Luxembourg Over the last month , the government has slowly eased a number of restrictions , with people now permitted to use public transport , use a wide variety of leisure facilities , and meet in larger groups .
It has however already reimposed quarantine @ @ @ @ @ @ @ a surge in cases there .
The Mediterranean country today recorded its second consecutive day of more than 1,000 new cases , with 1,229 in total .
Over the last seven days , a total of 13,319 cases have been diagnosed , Spain ’ s health ministry said .
Before the Open newsletter : Start your day with the City View podcast and key market data There has also been a surge in cases in France , which has recorded more than 1,400 new infections for the past two days .
Earlier , @ @ @ @ @ @ @ discussing the surge in cases across Europe .
He said that the UK should be prepared for further restrictions to be implemented , saying that the figures from Europe had justified the government ’ s swift action on Spain .
“ The number of cases have gone up sharply in some countries in Europe … France now has more cases than we do , per day , and in Spain we saw the numbers shoot up which is why we had to take the rapid action that we did , ” Hancock told @ @ @ @ @ @ @ that the government was set to announce quarantine restrictions on all travellers from Luxembourg , but no statement has yet been forthcoming .
Croatia and Belgium are also reportedly under consideration for similar restrictions .
In all , 11 countries across Europe have seen an uptick in cases .

UK reports highest number of new coronavirus cases since June
The UK this evening reported its highest number of new coronavirus cases in over a month amid rising concerns over a potential second wave of the virus.
There were 846 new confirmed infections recorded today, the largest amount since 28 June.
Over the last month, the government has slowly eased a number of restrictions, with people now permitted to use public transport, use a wide variety of leisure facilities, and meet in larger groups.
It has however already reimposed quarantine restrictions on incoming travellers from Spain after a surge in cases there.
The Mediterranean country today recorded its second consecutive day of more than 1,000 new cases, with 1,229 in total.
Over the last seven days, a total of 13,319 cases have been diagnosed, Spain’s health ministry said.
Before the Open newsletter: Start your day with the City View podcast and key market data
There has also been a surge in cases in France, which has recorded more than 1,400 new infections for the past two days.
Earlier, health secretary Matt Hancock name-checked France when discussing the surge in cases across Europe.
He said that the UK should be prepared for further restrictions to be implemented, saying that the figures from Europe had justified the government’s swift action on Spain.
“The number of cases have gone up sharply in some countries in Europe … France now has more cases than we do, per day, and in Spain we saw the numbers shoot up which is why we had to take the rapid action that we did,” Hancock told Talk Radio.
Earlier the BBC reported that the government was set to announce quarantine restrictions on all travellers from Luxembourg, but no statement has yet been forthcoming.
Croatia and Belgium are also reportedly under consideration for similar restrictions. In all, 11 countries across Europe have seen an uptick in cases.


cityam--2020-07-30--Republicans reject Trump's call for US election delay

Leading Republican politicians have rejected US President Donald Trump ’ s calls to delay the US 2020 presidential election , saying the ballot should be held as planned on 3 November .
Senate majority leader Mitch McConnell told reporters from his home state of Kentucky that the election would go ahead as scheduled .
House Republican leader Kevin McCarthy also flatly rejected the suggested delay , saying : “ Never in the history of the federal elections have we ever not held an election , and we should go forward with our election.
” Read more : Trump calls to @ @ @ @ @ @ @ and fraudulent ’ voting systems McConnell noted the US had always held its elections on time , through wars and economic downturns , and today is no exception .
Trump earlier today called for delaying the US presidential election , which he does not legally have the power to do .
Without evidence , he repeated his claims of mail-in voter fraud and raised the question of a delay , writing on Twitter : “ Delay the election until people can properly , securely and safely vote ?
?
?
” Democrats condemned @ @ @ @ @ @ @ an attempt to distract from devastating US economic data and his handling of the coronavirus crisis .
Many fellow Republicans made clear they did not agree with the president , either .
Read more : US economy shrinks by record 33 per cent amid coronavirus pandemic “ I think his concerns about mail-in voting are valid , but delaying the election is not the right answer , ” senator Lindsey Graham , a Trump ally , told reporters .
“ I think we can be able to safely vote in person in November @ @ @ @ @ @ @ chairs the Judiciary Committee .
“ I think delaying the election probably wouldn ’ t be a good idea.
” Notable Republican senators Ted Cruz , Marco Rubio and Mitt Romney also all rejected the idea of a US election delay .

Republicans reject Trump’s call for US election delay
Leading Republican politicians have rejected US President Donald Trump’s calls to delay the US 2020 presidential election, saying the ballot should be held as planned on 3 November.
Senate majority leader Mitch McConnell told reporters from his home state of Kentucky that the election would go ahead as scheduled.
House Republican leader Kevin McCarthy also flatly rejected the suggested delay, saying: “Never in the history of the federal elections have we ever not held an election, and we should go forward with our election.”
McConnell noted the US had always held its elections on time, through wars and economic downturns, and today is no exception.
Trump earlier today called for delaying the US presidential election, which he does not legally have the power to do.
Without evidence, he repeated his claims of mail-in voter fraud and raised the question of a delay, writing on Twitter: “Delay the election until people can properly, securely and safely vote???”
Democrats condemned his words immediately, saying they were an attempt to distract from devastating US economic data and his handling of the coronavirus crisis.
Many fellow Republicans made clear they did not agree with the president, either.
“I think his concerns about mail-in voting are valid, but delaying the election is not the right answer,” senator Lindsey Graham, a Trump ally, told reporters.
“I think we can be able to safely vote in person in November,” said Graham, who also chairs the Judiciary Committee. “I think delaying the election probably wouldn’t be a good idea.”
Notable Republican senators Ted Cruz, Marco Rubio and Mitt Romney also all rejected the idea of a US election delay.


cityam--2020-07-31--Scotland warns against all travel to north of England after lockdown reimposed

The Scottish government has warned against all non-essential travel to Greater Manchester and other parts of northern England after ministers imposed lockdown restrictions on the area .
First minister Nicola Sturgeon said : “ I strongly advise anyone planning to travel to areas affected in the north of England , or anyone planning to travel to Scotland from those same areas , to cancel their plans.
” Read more : PM postpones Saturday lockdown easing for two weeks as coronavirus cases rise Overnight over 4m people in the north of England were ordered not to mix with people outside of @ @ @ @ @ @ @ .
However , they will still be able to go to the pub and to work .
The new measures were announced by tweet with just two hours notice at 9pm last night , after a meeting between health secretary Matt Hancock and local leaders .
They will be reviewed on a weekly basis .
The last-minute announcement was met with stiff criticism from across the political spectrum for its timing .
Before the Open newsletter : Start your day with the City View podcast and key market data Greater Manchester , east @ @ @ @ @ @ @ covered by the new restrictions , which the government said it would write into law .
Today Prime Minister Boris Johnson announced that the easing of restrictions at “ higher risk ” settings including sports venues , casinos , leisure centres and weddings will be paused following a sharp spike in coronavirus cases .
In a press conference , he said that plans to reopen leisure centres , casinos , skating rinks and bowling alleys will now be pushed back until at least 15 August .
Read more : Lockdown in north-west England @ @ @ @ @ @ @ “ We should now squeeze that brake pedal , ” said Johnson .
“ I ’ m really sorry about that but we simply can not take the risk.
” The move marks a sharp U-turn in plans to ease lockdown measures , amid mounting fears of a second wave of coronavirus across the globe .

Scotland warns against all travel to north of England after lockdown reimposed
The Scottish government has warned against all non-essential travel to Greater Manchester and other parts of northern England after ministers imposed lockdown restrictions on the area.
First minister Nicola Sturgeon said: “I strongly advise anyone planning to travel to areas affected in the north of England, or anyone planning to travel to Scotland from those same areas, to cancel their plans.”
Overnight over 4m people in the north of England were ordered not to mix with people outside of their household after a surge in infections.
However, they will still be able to go to the pub and to work.
The new measures were announced by tweet with just two hours notice at 9pm last night, after a meeting between health secretary Matt Hancock and local leaders. They will be reviewed on a weekly basis.
The last-minute announcement was met with stiff criticism from across the political spectrum for its timing.
Before the Open newsletter: Start your day with the City View podcast and key market data
Greater Manchester, east Lancashire and parts of West Yorkshire are covered by the new restrictions, which the government said it would write into law.
Today Prime Minister Boris Johnson announced that the easing of restrictions at “higher risk” settings including sports venues, casinos, leisure centres and weddings will be paused following a sharp spike in coronavirus cases.
In a press conference, he said that plans to reopen leisure centres, casinos, skating rinks and bowling alleys will now be pushed back until at least 15 August.
“We should now squeeze that brake pedal,” said Johnson. “I’m really sorry about that but we simply cannot take the risk.”
The move marks a sharp U-turn in plans to ease lockdown measures, amid mounting fears of a second wave of coronavirus across the globe.


cityam--2020-07-31--'A Day in the Life' of Jimmy Nguyen- Founding President, Bitcoin Association

Jimmy Nguyen is Founding President at Bitcoin Association .
Jimmy is also part of the leading blockchain research & development firm , nChain after a 21-year career as an intellectual property and digital technology lawyer .
Jimmy spoke exclusively to BEQUANT Talks about the work of Bitcoin Association and why he believes cryptocurrency is here to stay .
What is usually the first thought that goes through your mind each morning ?
What can I do today to help businesses thrive within the Bitcoin SV ecosystem ?
Although first , where ’ s the coffee ?
How much have things @ @ @ @ @ @ @ a result of the COVID-19 pandemic ?
At Bitcoin Association , we had several major conferences and in-person events in the works prior to the pandemic , each designed to work with and educate different segments of the Bitcoin community : businesses , developers , investors , and end-users .
As a result , we ’ ve pivoted towards moving as much of our programme online as possible , which has produced great results .
Take Bitcoin SV DevCon for example .
We had intended to run our first two Bitcoin SV Developer @ @ @ @ @ @ @ Francisco and another in Shanghai – and although we lost some of the interaction that comes along with a big in-person event , we attracted a much wider audience ; we had over 3,400 unique attendees for our first virtual BSV DevCon , compared to the several hundred we were targeting for an in-person event in San Francisco .
The focus on online content has also led us to form partnerships with big online developer communities – including WeAreDevelopers in Europe and China ’ s largest software development community , CSDN , who @ @ @ @ @ @ @ us , it ’ s been about adapting to find new ways to deliver our programme , but as a result – we ’ ve managed to deliver it to an even wider audience , which is fantastic to see .
As for me personally , the COVID-19 situation gave me the opportunity to take the first extended period of rest I ’ ve had in the past few years .
Normally , I spend 80 % of my life traveling across the globe on Bitcoin business .
Now , there ’ s @ @ @ @ @ @ @ ve had time to rest , get full nights of sleep , and cook for myself regularly – just like I did back in my university and law school years .
But like most everyone else , I ’ m now itching for life to get back to normal and for me , that means getting back on the road to grow Bitcoin SV globally .
We know how busy you are , but what duties take up the bulk of your workday ?
And which one do you think is most important @ @ @ @ @ @ @ calls upon many different skill sets – be it immersing myself in Bitcoin technology , working with our media and communications teams , getting involved with event planning or team management , even dabbling in legal and policy work like in my previous life as a lawyer – there ’ s always something different !
But I would say that more than anything , I view myself as an advocate for Bitcoin SV and a relationship builder .
Since the start of the pandemic , my workdays have looked very different .
Instead @ @ @ @ @ @ @ and hotel lobbies traveling the world on Bitcoin business , for better or worse , I ’ ve been settled in place .
That ’ s meant for me personally , figuring out how best to be effective communicating and working with all of our global stakeholders and partners , wherever they may be .
A part of my role that I deeply care about is connecting people to the right businesses and resources who can help them build with Bitcoin SV , which has been something I ’ ve had more time @ @ @ @ @ @ @ over the last few months .
A positive that I ’ ve taken from the past few months , however , has been the opportunity to spend more time focused on the operational aspects of my job and long-term planning for the Association – something which I am confident will pay dividends down the line !
We often hear you talk about Bitcoin SV being an opportunity for investors and developers , where are you seeing the biggest opportunity at present ?
The biggest opportunity begins with understanding just what Bitcoin is capable @ @ @ @ @ @ @ massively scale – as we are doing with Bitcoin SV .
A massively scaled Bitcoin network enables greater data capacity with new functionalities and applications , as well as high volumes of fast transactions with super low fees , for the first-time truly facilitating micropayments .
It means developers and enterprises can build applications and develop services that intertwine data with payments – even those as small as a fraction of a cent .
Imagine a world where all of your daily digital activity – be it making a social media post that @ @ @ @ @ @ @ your identity information – can be monetized .
What if instead of major online entities capturing the billions of dollars of revenue generated , we flipped that paradigm entirely ?
With Bitcoin SV , this is possible now .
Understanding the scope of that potential and what it represents is the biggest opportunity at present .
What excites you most about cryptocurrencies and digital assets ?
I am not excited about cryptocurrencies in general ; the world has far too many unnecessary cryptocurrencies .
Just like the world operates on a single global @ @ @ @ @ @ @ with one digital currency and one blockchain that can power everything .
All other assets can be tokenized on that single blockchain , which would be much more efficient for the world .
The only digital currency and blockchain that is scaling to realize that vision is Bitcoin SV .
The reason I am so excited about Bitcoin SV is that it ’ s not just a digital currency or a blockchain ; it ’ s Bitcoin as a network protocol , just like the Internet protocol is a foundational rule set for @ @ @ @ @ @ @ a young lawyer in the 1990s when the Internet boom was beginning ; now , more than two decades later , I ’ m seeing a similar opportunity for those who understand that Bitcoin is a protocol for an entire world-changing data network .
Bitcoin should be like plumbing ; its data network should operate underneath global payments , data transactions , digital activity and business services – without people even knowing about it .
You ’ ve talked in the past about how digital assets are the future of society .
What @ @ @ @ @ @ @ ?
I foresee a future where all assets can be digitally tokenized on a blockchain – stock in public companies ; shares of interest in fine art , collectibles , real estate ; rewards points ; even your personal data .
Once represented as digital assets , they can be easily traded via online exchanges .
This will open new ways for consumers and businesses to earn value from asset classes ( such as your personal data ) which were previously difficult , if not impossible , to monetize .
We are advancing @ @ @ @ @ @ @ that can massively scale to enable this – Bitcoin SV .
In addition , our Bitcoin Association advocates for a regulation-friendly ecosystem – that means ensuring that securities and other laws are followed when tokenizing assets .
In recent months , institutional adoption of digital assets has been discussed as one of most important factors for long term growth of digital assets .
Where do you think the progress is being made to solve this problem ?
Institutional investors and enterprises have been wary about digital assets because Bitcoin and cryptocurrencies generated a @ @ @ @ @ @ @ – something which can primarily be attributed to its illicit use on dark marketplaces like the Silk Road , together with a perceived culture of “ crypto anarchists ” who resist legal compliance surrounding it .
In contrast today , we at Bitcoin Association and across the wider Bitcoin SV ecosystem are steadfast in our support to build a regulation-friendly ecosystem for digital currencies and assets – precisely so big institutions and governments feel comfortable working with it .
This is absolutely a required step on the path to achieving global adoption .
@ @ @ @ @ @ @ blockchain analytics services , law enforcement against illegal activity with digital currencies , and recognizing that laws do in fact apply to the blockchain world .
At the Bitcoin Association , we support all such efforts to normalize and bring digital assets to big institutional usage and to the masses .
Our vision is a world of 5 billion+ people using Bitcoin SV and assets tokenized on its blockchain .
That requires winning the confidence of and ensuring adoption by enterprises , governments and consumers around the world – a predicate of which @ @ @ @ @ @ @ assets .
What does the future hold for the Bitcoin Association and yourself ?
For Bitcoin Association , our future will continue to revolve around establishing a solid foundation that will ensure that the Bitcoin SV ecosystem can deliver real utility , which will in turn drive use and value .
That means enhancing Bitcoin technical infrastructure ; global developer training ; support for enterprises to build blockchain use cases ; encouraging user-friendly applications for consumers ; and educating the investor community ; and engaging with government leaders on sound policy .
There @ @ @ @ @ @ @ do , but the opportunity is to guide the biggest leap in technology the world has seen since the advent of the Internet .
For me personally , once the world gets back to something again resembling normality , my future means once again packing my suitcase and getting on the road ( or really , in the air ) to work with people around the world for the betterment of Bitcoin SV .
But more than that , for me , this is the chance to be a part of something special @ @ @ @ @ @ @ a legacy in technology .
That is ultimately the big WIN .

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‘A Day in the Life’ of Jimmy Nguyen- Founding President, Bitcoin Association
Jimmy Nguyen is the Founding President of Bitcoin Association, the Switzerland-based global industry organization that supports Bitcoin SV. One of the main competing chains of Bitcoin, Bitcoin SV uses the original Bitcoin protocol and is massively scaling to be the global enterprise blockchain. Following a distinguished legal career, Jimmy shifted tracks professionally in 2017 to focus on blockchain technologies, most recently serving as CEO of leading blockchain research & development firm, nChain. Now with Bitcoin Association, Jimmy spoke exclusively to BEQUANT about the work of the Association and the future he envisions for digital assets.
What is usually the first thought that goes through your mind each morning?
What can I do today to help businesses thrive within the Bitcoin SV ecosystem? Although first, where’s the coffee?
How much have things changed Bitcoin Association and you personally as a result of the COVID-19 pandemic?
At Bitcoin Association, we had several major conferences and in-person events in the works prior to the pandemic, each designed to work with and educate different segments of the Bitcoin community: businesses, developers, investors, and end-users. As a result, we’ve pivoted towards moving as much of our programme online as possible, which has produced great results.
Take Bitcoin SV DevCon for example. We had intended to run our first two Bitcoin SV Developer Conferences this year – one in San Francisco and another in Shanghai – and although we lost some of the interaction that comes along with a big in-person event, we attracted a much wider audience; we had over 3,400 unique attendees for our first virtual BSV DevCon, compared to the several hundred we were targeting for an in-person event in San Francisco.
The focus on online content has also led us to form partnerships with big online developer communities – including WeAreDevelopers in Europe and China’s largest software development community, CSDN, who boast over 31 million users. For us, it’s been about adapting to find new ways to deliver our programme, but as a result – we’ve managed to deliver it to an even wider audience, which is fantastic to see.
As for me personally, the COVID-19 situation gave me the opportunity to take the first extended period of rest I’ve had in the past few years. Normally, I spend 80% of my life traveling across the globe on Bitcoin business. Now, there’s no more jet lag! I’ve had time to rest, get full nights of sleep, and cook for myself regularly – just like I did back in my university and law school years. But like most everyone else, I’m now itching for life to get back to normal and for me, that means getting back on the road to grow Bitcoin SV globally.
We know how busy you are, but what duties take up the bulk of your workday? And which one do you think is most important?
I have a unique role that calls upon many different skill sets – be it immersing myself in Bitcoin technology, working with our media and communications teams, getting involved with event planning or team management, even dabbling in legal and policy work like in my previous life as a lawyer – there’s always something different! But I would say that more than anything, I view myself as an advocate for Bitcoin SV and a relationship builder.
Since the start of the pandemic, my workdays have looked very different. Instead of a constant blur of airport lounges and hotel lobbies traveling the world on Bitcoin business, for better or worse, I’ve been settled in place. That’s meant for me personally, figuring out how best to be effective communicating and working with all of our global stakeholders and partners, wherever they may be. A part of my role that I deeply care about is connecting people to the right businesses and resources who can help them build with Bitcoin SV, which has been something I’ve had more time to do but had to approach differently over the last few months. A positive that I’ve taken from the past few months, however, has been the opportunity to spend more time focused on the operational aspects of my job and long-term planning for the Association – something which I am confident will pay dividends down the line!
We often hear you talk about Bitcoin SV being an opportunity for investors and developers, where are you seeing the biggest opportunity at present?
The biggest opportunity begins with understanding just what Bitcoin is capable of when its blockchain is allowed to massively scale – as we are doing with Bitcoin SV. A massively scaled Bitcoin network enables greater data capacity with new functionalities and applications, as well as high volumes of fast transactions with super low fees, for the first-time truly facilitating micropayments. It means developers and enterprises can build applications and develop services that intertwine data with payments – even those as small as a fraction of a cent.
Imagine a world where all of your daily digital activity – be it making a social media post that attracts engagement or giving companies access to your identity information – can be monetized. What if instead of major online entities capturing the billions of dollars of revenue generated, we flipped that paradigm entirely? With Bitcoin SV, this is possible now. Understanding the scope of that potential and what it represents is the biggest opportunity at present.
What excites you most about cryptocurrencies and digital assets?
I am not excited about cryptocurrencies in general; the world has far too many unnecessary cryptocurrencies. Just like the world operates on a single global Internet, the world will work better with one digital currency and one blockchain that can power everything. All other assets can be tokenized on that single blockchain, which would be much more efficient for the world. The only digital currency and blockchain that is scaling to realize that vision is Bitcoin SV.
The reason I am so excited about Bitcoin SV is that it’s not just a digital currency or a blockchain; it’s Bitcoin as a network protocol, just like the Internet protocol is a foundational rule set for an entire data network. I was a young lawyer in the 1990s when the Internet boom was beginning; now, more than two decades later, I’m seeing a similar opportunity for those who understand that Bitcoin is a protocol for an entire world-changing data network. Bitcoin should be like plumbing; its data network should operate underneath global payments, data transactions, digital activity and business services – without people even knowing about it.
You’ve talked in the past about how digital assets are the future of society. What activity are you conducting to support this?
I foresee a future where all assets can be digitally tokenized on a blockchain – stock in public companies; shares of interest in fine art, collectibles, real estate; rewards points; even your personal data. Once represented as digital assets, they can be easily traded via online exchanges. This will open new ways for consumers and businesses to earn value from asset classes (such as your personal data) which were previously difficult, if not impossible, to monetize.
We are advancing that future by supporting the only blockchain that can massively scale to enable this – Bitcoin SV. In addition, our Bitcoin Association advocates for a regulation-friendly ecosystem – that means ensuring that securities and other laws are followed when tokenizing assets.
In recent months, institutional adoption of digital assets has been discussed as one of most important factors for long term growth of digital assets. Where do you think the progress is being made to solve this problem?
Institutional investors and enterprises have been wary about digital assets because Bitcoin and cryptocurrencies generated a poor early reputation in their early days – something which can primarily be attributed to its illicit use on dark marketplaces like the Silk Road, together with a perceived culture of “crypto anarchists” who resist legal compliance surrounding it.
In contrast today, we at Bitcoin Association and across the wider Bitcoin SV ecosystem are steadfast in our support to build a regulation-friendly ecosystem for digital currencies and assets – precisely so big institutions and governments feel comfortable working with it. This is absolutely a required step on the path to achieving global adoption.
Progress means having KYC/AML compliance tools, blockchain analytics services, law enforcement against illegal activity with digital currencies, and recognizing that laws do in fact apply to the blockchain world. At the Bitcoin Association, we support all such efforts to normalize and bring digital assets to big institutional usage and to the masses. Our vision is a world of 5 billion+ people using Bitcoin SV and assets tokenized on its blockchain. That requires winning the confidence of and ensuring adoption by enterprises, governments and consumers around the world – a predicate of which is creating a lawful environment for digital assets.
What does the future hold for the Bitcoin Association and yourself?
For Bitcoin Association, our future will continue to revolve around establishing a solid foundation that will ensure that the Bitcoin SV ecosystem can deliver real utility, which will in turn drive use and value. That means enhancing Bitcoin technical infrastructure; global developer training; support for enterprises to build blockchain use cases; encouraging user-friendly applications for consumers; and educating the investor community; and engaging with government leaders on sound policy. There’s a lot of work to do, but the opportunity is to guide the biggest leap in technology the world has seen since the advent of the Internet.
For me personally, once the world gets back to something again resembling normality, my future means once again packing my suitcase and getting on the road (or really, in the air) to work with people around the world for the betterment of Bitcoin SV. But more than that, for me, this is the chance to be a part of something special – something which I hope will leave a legacy in technology. That is ultimately the big WIN.


cityam--2020-07-31--PM postpones Saturday lockdown easing for two weeks as coronavirus cases rise

The Prime Minister has hit the brakes on easing the coronavirus lockdown for “ higher risk ” settings including sports venues , casinos , leisure centres and weddings , following a sharp spike in coronavirus cases .
In a press conference to the nation , Boris Johnson today announced that plans to reopen leisure centres , casinos , skating rinks and bowling alleys tomorrow will now be pushed back until at least 15 August .
Read more : Lockdown in north-west England : What are the new rules ?
Socially-distanced theatres and music venues will also remain shuttered despite initial @ @ @ @ @ @ @ of up to 15 people will be prohibited , although ceremonies can still take place alongside Covid-secure guidelines .
“ We should now squeeze that brake pedal in order to keep virus under control , ” said Johnson .
“ I ’ m really sorry about that but we simply can not take the risk.
” “ We ’ re now seeing a warning light on the dash board and it ’ s right to react , ” the PM added .
The move marks a sharp U-turn in plans to ease lockdown @ @ @ @ @ @ @ global second wave .
“ As we see rises around the world , we can ’ t fool ourselves that we are exempt .
We must be willing to react to the first signs of trouble , ” said Johnson .
Chief medical officer Professor Chris Whitty said : “ What we ’ ve got to try and do is get to the absolute edge… in terms of reopening society and the economy without getting to the point where the virus takes off again .
“ Because if you do too much in @ @ @ @ @ @ @ will come back.
” Whitty added that the government had to strike a fine balance to avoid “ increasing unemployment.
” In a stark warning that stricter measures may be on the horizon , Whitty said the UK “ has probably reached near the limit… of what we can do in terms of opening up society .
“ We have to be realistic about this — the idea we can open up everything and keep the virus under control is clearly wrong.
” It comes as official figures released today showed a spike @ @ @ @ @ @ @ across England for the first time since April .
Data from the Office for National Statistics ( ONS ) showed there were around 4,200 new infections in the community per day between 20 July and 26 July .
“ We just can ’ t afford to avoid this evidence , ” the PM said today .
The UK saw its highest daily total of Covid-19 cases for more than a month yesterday .
A total of 846 new cases were reported — the most since 901 cases were announced on 28 June .
@ @ @ @ @ @ @ restrictions in the north of England following a sharp spike in infections .
More than 4.5m people in Greater Manchester , East Lancashire and parts of West Yorkshire were last night banned from meeting other households indoors .
Health secretary Matt Hancock described the move as “ absolutely necessary ” .
Read more : Scotland warns against all travel to north of England after lockdown reimposed Earlier in the day , the UK ’ s four chief medical officers increased the self-isolation period from seven days to 10 days in England .
The @ @ @ @ @ @ @ real possibility ” people may continue to be infectious with coronavirus for longer than seven days .
Before the Open : Get the jump on the markets with our early morning newsletter

PM postpones Saturday lockdown easing for two weeks as coronavirus cases rise
The Prime Minister has hit the brakes on easing the lockdown for “higher risk” settings including sports venues, casinos, leisure centres and weddings, following a sharp spike in coronavirus cases.
In a press conference, Boris Johnson said plans to reopen venues tomorrow will now pause until at least 15 August.
Socially-distanced theatres and music venues will also remain shuttered despite initial plans to reopen tomorrow.
Wedding receptions of up to 15 people will be prohibited, although ceremonies can still take place alongside Covid-secure guidelines.
“We should now squeeze that brake pedal in order to keep the virus under control,” said Johnson. “I’m really sorry about that but we simply cannot take the risk.”
“We’re now seeing a warning light on the dash board and it’s right to react,” the PM added.
Working from home and compulsory masks
Face masks will become mandatory by law in all public indoor settings on 8 August, the PM said.
The new measures will require mandatory face coverings in museums, galleries, cinemas and places of worship.
“I don’t want to tell people to spend less time with their friends,” Johnson said.
“But unless people follow the rules and behave safely, we may need to go further.”
The Prime Minister urged people to discuss with their employers whether they can work from home.
“That is a very important consideration,” he added.
If people don’t feel it is secure “that is a matter that can be enforced in law, and we will come down hard on people who don’t do the right thing,” said the PM.
Second wave fears
The move marks a sharp U-turn in plans to ease lockdown measures, amid mounting fears of a global second wave.
“As we see rises around the world, we can’t fool ourselves that we are exempt. We must be willing to react to the first signs of trouble,” said Johnson.
Chief medical officer Professor Chris Whitty said: “What we’ve got to try and do is get to the absolute edge… in terms of reopening society and the economy without getting to the point where the virus takes off again.
“Because if you do too much in terms of opening up, the virus will come back.”
Whitty added that the government had to strike a fine balance to avoid “increasing unemployment.”
In a stark warning that stricter measures may be on the horizon, Whitty said the UK “has probably reached near the limit… of what we can do in terms of opening up society.
“We have to be realistic about this — the idea we can open up everything and keep the virus under control is clearly wrong.”
Rise in Covid cases
It comes as official figures released today showed a spike in the number of new coronavirus cases across England for the first time since April.
Data from the Office for National Statistics (ONS) showed there were around 4,200 new infections in the community per day between 20 July and 26 July.
“We just can’t afford to avoid this evidence,” the PM said today.
The UK saw its highest daily total of Covid-19 cases for more than a month yesterday. A total of 846 new cases were reported — the most since 901 cases were announced on 28 June.
Fresh lockdowns
The government last night introduced fresh lockdown restrictions in the north of England following the sharp spike in infections.
More than 4.5m people in Greater Manchester, East Lancashire and parts of West Yorkshire were last night banned from meeting other households indoors.
Health secretary Matt Hancock described the move as “absolutely necessary”.
Earlier in the day, the UK’s four chief medical officers increased the self-isolation period from seven days to 10 days in England.
The top scientists said there was a “real possibility” people may continue to be infectious with coronavirus for longer than seven days.
Before the Open: Get the jump on the markets with our early morning newsletter


cityam--2020-07-31--Hong Kong leader Carrie Lam delays local elections by a year

Hong Kong ’ s chief executive Carrie Lam has postponed September ’ s local elections due to the rising number of coronavirus cases in the region .
Lam has said the election will be held on 5 September 2021 , which will be a blow to the pro-democracy opposition looking to make gains .
The opposition was hoping to win a majority in the Legislative Council , where only half of the seats are directly elected .
The other half is filled mostly by pro-Beijing candidates .
It comes after 12 pro-democracy candidates were disqualified from running in the election @ @ @ @ @ @ @ intentions and opposition to the new security law .
The legislation punishes crimes of secession , subversion , terorrism and collusion with foreign forces .
Lam told reporters the decision was the most difficult she had made in seven months , but was aimed at safeguarding people ’ s health .
She said she was invoking the Emergency Regulations Ordinance to push the elections back and that her decision was supported by central government .
It is the second time in a year Lam has invoked the law , which was first introduced @ @ @ @ @ @ @ it last October to ban protestors in masks hiding their identities during anti-government demonstrations .
She pointed to the decision to postpone an election in Britain in May by one year , and one in Australia .
“ If we continue with our election , millions of voters will be visiting polling stations on the same day .
The risk of infection would be very high.
” Hong Kong has reported more than 3,000 coronavirus cases since January , lower than most major cities .
But over the past 10 days the territory @ @ @ @ @ @ @ rise to triple-digits .
In response to the spike in infections , the government limited gatherings to two people .
Get the news as it happens by following City A.M. on Twitter .

Hong Kong leader Carrie Lam delays local elections by a year
(Photo by ISAAC LAWRENCE/AFP via Getty Images)
Hong Kong’s chief executive Carrie Lam has postponed September’s local elections due to the rising number of coronavirus cases in the region.
Lam has said the election will be held on 5 September 2021, which will be a blow to the pro-democracy opposition looking to make gains.
The opposition was hoping to win a majority in the Legislative Council, where only half of the seats are directly elected. The other half is filled mostly by pro-Beijing candidates.
It comes after 12 pro-democracy candidates were disqualified from running in the election. This was due to perceived subversive intentions and opposition to the new security law.
The legislation punishes crimes of secession, subversion, terorrism and collusion with foreign forces.
Lam told reporters the decision was the most difficult she had made in seven months, but was aimed at safeguarding people’s health. She said she was invoking the Emergency Regulations Ordinance to push the elections back and that her decision was supported by central government.
It is the second time in a year Lam has invoked the law, which was first introduced under British colonial rule. She used it last October to ban protestors in masks hiding their identities during anti-government demonstrations.
She pointed to the decision to postpone an election in Britain in May by one year, and one in Australia.
“If we continue with our election, millions of voters will be visiting polling stations on the same day. The risk of infection would be very high.”
Hong Kong has reported more than 3,000 coronavirus cases since January, lower than most major cities. But over the past 10 days the territory has seen the number of new cases rise to triple-digits.
In response to the spike in infections, the government limited gatherings to two people.
Get the news as it happens by following City A.M. on Twitter.


cityam--2020-07-31--Ardbeg team up with DJ BBQ to add smoke to the fire

Oh boy , it ’ s a hot one this weekend .
Temperatures are set to soar – and Brits are no doubt set to gather around barbecues up and down the country .
Read more : Four unique tequilas to spice up your weekend But before you default to burgers and sausages , world-renowned Islay Distillery Ardbeg and chef DJ BBQ have teamed up to produce a series of Smoke Sessions to guide you on your journey to charred perfection .
Beef plaited ?
Salmon cooked over a fire pit – whilst it ’ s nailed on wood ?
@ @ @ @ @ @ @ ve all got to become a bit more adventurous this year , after all .
And , being generous sorts that they are , Ardbeg and their culinary companion created cocktails to go alongside – not least mixing up an Old Fashioned with a rasher of bacon .
The famously smoky Ardbeg 10 also makes up the base for the Maple and Bacon Old Fashioned , available pre-mixed and delivered by Edinburgh retailer Mothership Drinks .
This recipe and video is courtesy of DJ BBQ ’ s ‘ The Smoke Sessions ’ , @ @ @ @ @ @ @ ’ s YouTube channel .

Ardbeg team up with DJ BBQ to add smoke to the fire
Oh boy, it’s a hot one this weekend.
Temperatures are set to soar – and Brits are no doubt set to gather around barbecues up and down the country.
Read more: Four unique tequilas to spice up your weekend
But before you default to burgers and sausages, world-renowned Islay Distillery Ardbeg and chef DJ BBQ have teamed up to produce a series of Smoke Sessions to guide you on your journey to charred perfection.
Beef plaited? Salmon cooked over a fire pit – whilst it’s nailed on wood? Sure, why not. We’ve all got to become a bit more adventurous this year, after all.
And, being generous sorts that they are, Ardbeg and their culinary companion created cocktails to go alongside – not least mixing up an Old Fashioned with a rasher of bacon.
The famously smoky Ardbeg 10 also makes up the base for the Maple and Bacon Old Fashioned, available pre-mixed and delivered by Edinburgh retailer Mothership Drinks.
This recipe and video is courtesy of DJ BBQ’s ‘The Smoke Sessions’, a guide to BBQing available on Ardbeg’s YouTube channel.


cityam--2020-07-31--UK house prices rebound sharply after stamp duty cut

UK house prices unexpectedly bounced back in July after tumbling in June , as pent-up lockdown demand was released and the stamp duty cut cheered buyers and sellers .
Building society nationwide said British prices jumped 1.7 per cent in July compared to a month earlier , when they fell 1.6 per cent .
Analysts had been expecting a drop of 0.1 per cent .
In the UK year on year , house prices returned to solid growth of 1.5 per cent in July .
That compared to a fall of 0.1 per cent in June .
The average non-seasonally @ @ @ @ @ @ @ “ The bounce back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions , ” said Nationwide ’ s chief economist Robert Gardner .
Property prices in the Britain have stood up remarkably well considering the country is going through its worst economic slowdown in recent history .
The entire housing market was put on ice at the end of March and for the whole of April .
But the government allowed it to reopen in the middle of May .
Economists and estate agents @ @ @ @ @ @ @ and keeping prices buoyant .
However , they warn that a wave of unemployment in the winter could lead to prices falling .
UK house prices to be supported by stamp duty cut Gardner said : “ Pent up demand is coming through , where decisions taken to move before lockdown are progressing.
” “ Moreover , social distancing does not appear to be having as much of a chilling effect as we might have feared , at least at this stage.
’ He added that activity would be “ further boosted by @ @ @ @ @ @ @ .
Read more : How badly will coronavirus hit UK house prices in 2020 ?
Chancellor Rishi Sunak announced a stamp duty “ holiday ” in his summer statement earlier in July .
It instantly raised the threshold at which people pay the stamp duty property tax to £500,000 from £125,000 .
And it will run until the end of March 2021 .
Data from property website Zoopla this week showed that the stamp duty holiday has significantly boosted London ’ s housing market .
New sales rocketed by over a quarter in @ @ @ @ @ @ @ chief economist Howard Archer said : “ Housing market activity may well see a pick-up in the near term providing some support to prices , as a result of the raising of the Stamp Duty threshold , along with the release of some pent-up activity following the easing of lockdown restrictions .
“ The easing of lockdown restrictions affecting the housing market has occurred later in Wales , Scotland and Northern Ireland than in England , so there may be some catching up there .
This could result in house prices firming modestly @ @ @ @ @ @ @ back in recent months.
” Experts have warned that the bounce back in UK house price growth could be short-lived as unemployment is expected to spike once government support ends .
“ Many people have already lost their jobs , despite the supportive Government measures , while others will be concerned that they may very well still end up losing their job once the furlough scheme ends , ” Archer added .
“ Additionally , many incomes have been affected .
Consumer confidence is currently still low compared to long-term norms and many @ @ @ @ @ @ @ some time to come when making major spending decisions such as buying or moving house.
” Guy Harrington , chief executive of property lender Glenhawk , said the UK housing market is in a post-lockdown honeymoon phase .
“ The reality is very different , ” he said .
“ The UK is staring down the barrel of a period of unprecedented pain , underpinned by mass unemployment as the furlough scheme ends and a likely second spike , which will hit consumer confidence in unimaginable ways and undo all the gains seen @ @ @ @ @ @ @ we ’ ve seen the worst , 2021 may just top it .
”

UK house prices rebound sharply after stamp duty cut
UK house prices unexpectedly bounced back in July after tumbling in June, as pent-up lockdown demand was released and the stamp duty cut cheered buyers and sellers.
Building society nationwide said British prices jumped 1.7 per cent in July compared to a month earlier, when they fell 1.6 per cent. Analysts had been expecting a drop of 0.1 per cent.
In the UK year on year, house prices returned to solid growth of 1.5 per cent in July. That compared to a fall of 0.1 per cent in June. The average non-seasonally adjusted price was £220,936 this month.
“The bounce back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions,” said Nationwide’s chief economist Robert Gardner.
Property prices in the Britain have stood up remarkably well considering the country is going through its worst economic slowdown in recent history.
The entire housing market was put on ice at the end of March and for the whole of April. But the government allowed it to reopen in the middle of May.
Economists and estate agents say that pent-up demand is outstripping supply and keeping prices buoyant. However, they warn that a wave of unemployment in the winter could lead to prices falling.
UK house prices to be supported by stamp duty cut
Gardner said: “Pent up demand is coming through, where decisions taken to move before lockdown are progressing.”
“Moreover, social distancing does not appear to be having as much of a chilling effect as we might have feared, at least at this stage.’
He added that activity would be “further boosted by the recently announced stamp duty holiday”.
Chancellor Rishi Sunak announced a stamp duty “holiday” in his summer statement earlier in July. It instantly raised the threshold at which people pay the stamp duty property tax to £500,000 from £125,000. And it will run until the end of March 2021.
Data from property website Zoopla this week showed that the stamp duty holiday has significantly boosted London’s housing market. New sales rocketed by over a quarter in just two weeks.
EY Item Club chief economist Howard Archer said: “Housing market activity may well see a pick-up in the near term providing some support to prices, as a result of the raising of the Stamp Duty threshold, along with the release of some pent-up activity following the easing of lockdown restrictions.
“The easing of lockdown restrictions affecting the housing market has occurred later in Wales, Scotland and Northern Ireland than in England, so there may be some catching up there. This could result in house prices firming modestly over the next few months after falling back in recent months.”
Short-lived bounce back?
Experts have warned that the bounce back in UK house price growth could be short-lived as unemployment is expected to spike once government support ends.
“Many people have already lost their jobs, despite the supportive Government measures, while others will be concerned that they may very well still end up losing their job once the furlough scheme ends,” Archer added.
“Additionally, many incomes have been affected. Consumer confidence is currently still low compared to long-term norms and many people are likely to remain cautious for some time to come when making major spending decisions such as buying or moving house.”
Guy Harrington, chief executive of property lender Glenhawk, said the UK housing market is in a post-lockdown honeymoon phase.
“The reality is very different,” he said.
“The UK is staring down the barrel of a period of unprecedented pain, underpinned by mass unemployment as the furlough scheme ends and a likely second spike, which will hit consumer confidence in unimaginable ways and undo all the gains seen in recent months. If you think we’ve seen the worst, 2021 may just top it.”


cityam--2020-07-31--Bank customers may need longer-term crisis support, says FCA

The City watchdog has said Britain ’ s lenders may need to consider introducing “ sustainable forbearance ” for customers who will struggle with loan repayments after coronavirus relief measures end in the autumn .
The Financial Conduct Authority ( FCA ) has launched a “ call for input ” to determine what measures may be needed once repayment holidays introduced during the pandemic come to an end on 31 October .
Read more : Natwest sinks to a loss as it sets aside £2.9bn for bad loans Firms have provided over 1.8m payment deferrals and over 1.6m personal loan @ @ @ @ @ @ @ said that while the majority of borrowers can be expected to resume repayments , a “ significant minority will need further support ” .
It added that consumers who applied for a deferral were more likely to have borrowed on one credit line to make payments on another , borrowed from family or friends , or reduced their day to day expenditure .
The FCA said that a recent survey showed the groups most vulnerable were those who had been made redundant or seen a decrease in household income , and those who @ @ @ @ @ @ @ lockdown .
“ We consider that the appropriate time for firms to move beyond blanket deferrals is at the end of the customer ’ s second deferral , ” the regulator said .
Among measures being mooted are the deferral of payments of capital , interest , fees and charges .
The deadline for responses is 7 August .
The FCA said if responses show that further measures are needed it would publish a draft paper on mortgages in late August , followed by draft guidance in mid-September .
Read more : Lloyds @ @ @ @ @ @ @ extra £2.4bn for bad loans Results from Britain ’ s biggest banks this week show they are anticipating a huge number of loans turning sour due to the pandemic .
Natwest today announced a hit of £2.86bn in the first half of the year to cover expected loan losses .
Lloyds and Barclays have also said they would set aside hefty sums for loan losses this week .
Get the news as it happens by following City A.M. on Twitter .

Bank customers may need longer-term crisis support, says FCA
The City watchdog has said Britain’s lenders may need to consider introducing “sustainable forbearance” for customers who will struggle with loan repayments after coronavirus relief measures end in the autumn.
The Financial Conduct Authority (FCA) has launched a “call for input” to determine what measures may be needed once repayment holidays introduced during the pandemic come to an end on 31 October.
Firms have provided over 1.8m payment deferrals and over 1.6m personal loan and credit payment deferrals. The FCA said that while the majority of borrowers can be expected to resume repayments, a “significant minority will need further support”.
It added that consumers who applied for a deferral were more likely to have borrowed on one credit line to make payments on another, borrowed from family or friends, or reduced their day to day expenditure.
The FCA said that a recent survey showed the groups most vulnerable were those who had been made redundant or seen a decrease in household income, and those who had “low financial release” before lockdown.
“We consider that the appropriate time for firms to move beyond blanket deferrals is at the end of the customer’s second deferral,” the regulator said.
Among measures being mooted are the deferral of payments of capital, interest, fees and charges.
The deadline for responses is 7 August. The FCA said if responses show that further measures are needed it would publish a draft paper on mortgages in late August, followed by draft guidance in mid-September.
Results from Britain’s biggest banks this week show they are anticipating a huge number of loans turning sour due to the pandemic.
Natwest today announced a hit of £2.86bn in the first half of the year to cover expected loan losses. Lloyds and Barclays have also said they would set aside hefty sums for loan losses this week.
Get the news as it happens by following City A.M. on Twitter.


cityam--2020-07-31--Coronavirus cases rise across England amid second wave fears

Official figures released today by the Office for National Statistics ( ONS ) showed a “ slight increase ” in the number of new coronavirus cases across England for the first time since April , as the infection rate across the UK continues to rise .
ONS figures showed that there were around 4,200 new infections in the community per day in England between 20 July and 26 July .
Read more : Lockdown in north-west England : What are the new rules ?
“ There is now evidence to suggest a slight increase in the number of people in @ @ @ @ @ @ @ throat swab in recent weeks , ” the ONS said : “ There is not enough evidence to say with confidence whether Covid-19 infection rates differ by region in England , nor whether infection rates have increased in different regions over the past six weeks.
” However , the data estimated that the rate of infection in London now stands at around 1.3 — the highest in the country .
If the R value rises above 1 it means that every person who contracts coronavirus passes it on to at least one other @ @ @ @ @ @ @ .
If the R number remains below 1 , the virus is in retreat .
Estimated percentage of the population testing positive for the coronavirus across regions in England The results came as part of the ONS ’ s Infection Survey Pilot , which showed a statistically significant rise in new cases for the first time since records began in April .
The UK saw its highest daily total of Covid-19 cases for more than a month yesterday .
A total of 846 new cases were reported — the most since 901 cases @ @ @ @ @ @ @ UK has now reported more than 302,000 confirmed cases of coronavirus and 45,999 fatalities .
England has seen the bulk of Covid-related casualties , recording 41,082 deaths since the pandemic hit .
It comes as the government last night introduced fresh lockdown restrictions in virus hotspots in the north of England following a sharp spike in infections .
People in Greater Manchester , East Lancashire and parts of West Yorkshire were last night banned from meeting other households indoors , in a move described by health secretary Matt Hancock as “ absolutely necessary @ @ @ @ @ @ @ be reviewed on a weekly basis .
Earlier in the day , the UK ’ s four chief medical officers increased the self-isolation period from seven days to 10 days in England , citing the “ real possibility ” people may continue to be infectious with coronavirus for longer than seven days .
In a statement , the medical officers said patients with Covid-19 “ have a low but real possibility of infectiousness between seven and nine days after illness onset.
” It comes as the health secretary yesterday said he was “ @ @ @ @ @ @ @ coronavirus “ rolling across Europe ” .
He said the government will “ do everything to prevent it reaching these shores ” , warning that it may reintroduce quarantine measures if the virus continues to spread .
Read more : London coronavirus cases : How many infections are in your London borough ?
Earlier this week , Boris Johnson said “ clearly we now face the threat of a second wave in other parts of Europe.
” He added : “ We must remain vigilant and continue to follow the official guidance to @ @ @ @ @ @ @ any second wave.
” Before the Open : Get the jump on the markets with our early morning newsletter

Coronavirus cases rise across England amid second wave fears
Official figures released today by the Office for National Statistics (ONS) showed a “slight increase” in the number of new coronavirus cases across England for the first time since April, as the infection rate across the UK continues to rise.
ONS figures showed that there were around 4,200 new infections in the community per day in England between 20 July and 26 July.
“There is now evidence to suggest a slight increase in the number of people in England testing positive on a nose and throat swab in recent weeks,” the ONS said.
“There is not enough evidence to say with confidence whether Covid-19 infection rates differ by region in England, nor whether infection rates have increased in different regions over the past six weeks.”
However, the data estimated that the rate of infection in London now stands at around 1.3 — the highest in the country.
If the R value rises above 1 it means that every person who contracts coronavirus passes it on to at least one other person, meaning an escalation in cases. If the R number remains below 1, the virus is in retreat.
Estimated percentage of the population testing positive for the coronavirus across regions in England
Source: Office for National Statistics – Covid-19 Infection Survey
The results came as part of the ONS’s Infection Survey Pilot, which showed a statistically significant rise in new cases for the first time since records began in April.
The UK saw its highest daily total of Covid-19 cases for more than a month yesterday. A total of 846 new cases were reported — the most since 901 cases were announced on 28 June.
The UK has now reported more than 302,000 confirmed cases of coronavirus and 45,999 fatalities. England has seen the bulk of Covid-related casualties, recording 41,082 deaths since the pandemic hit.
Fresh lockdowns
It comes as the government last night introduced fresh lockdown restrictions in virus hotspots in the north of England following a sharp spike in infections.
People in Greater Manchester, East Lancashire and parts of West Yorkshire were last night banned from meeting other households indoors, in a move described by health secretary Matt Hancock as “absolutely necessary”.
Hancock said the measures will be reviewed on a weekly basis.
Earlier in the day, the UK’s four chief medical officers increased the self-isolation period from seven days to 10 days in England, citing the “real possibility” people may continue to be infectious with coronavirus for longer than seven days.
In a statement, the medical officers said patients with Covid-19 “have a low but real possibility of infectiousness between seven and nine days after illness onset.”
Second wave fears
It comes as the health secretary yesterday said he was “worried” about a second wave of coronavirus “rolling across Europe”.
He said the government will “do everything to prevent it reaching these shores”, warning that it may reintroduce quarantine measures if the virus continues to spread.
Earlier this week, Boris Johnson said “clearly we now face the threat of a second wave in other parts of Europe.”
He added: “We must remain vigilant and continue to follow the official guidance to keep the virus under control and prevent any second wave.”
Before the Open: Get the jump on the markets with our early morning newsletter


cityam--2020-07-31--Lockdown in north-west England: What are the new rules?

Last night health secretary Matt Hancock announced via Twitter that millions of people in northern England would be subject to new restrictions after an increase in coronavirus cases .
The new rules , which met with criticism over how they were announced , apply to people in Greater Manchester , east Lancashire and parts of West Yorkshire .
The measures were announced with just two hours notice at 9pm last night , after a meeting between Hancock and local leaders .
They will be reviewed on a weekly basis .
Chiefly , the new rules mean that as of midnight @ @ @ @ @ @ @ not be allowed to meet in homes or private gardens .
Here ’ s a breakdown of the new government guidance .
Under the new restrictions , you will not be able to meet people you do not live with inside a private home or garden , except where you have formed a support bubble .
In addition , you can not visit someone else ’ s home or garden even if they live outside of the affected areas .
Nor can people outside the affected area visit you in your home .
@ @ @ @ @ @ @ people you do not live with in other indoor public venues – such as pubs , restaurants , cafes , shops , places of worship , community centres , leisure and entertainment venues , or visitor attractions .
However , you may attend these venues with people you live with ( or are in a support bubble with ) , as long as you avoid interaction with others .
The government has said that it will pass new laws to enforce the changes to the rules .
The police will also be able @ @ @ @ @ @ @ these rules , including asking people to disperse and issuing fixed penalty notices starting at £100 .
Can I go to work or to the pub ?
People who live inside and outside of this area can continue to travel in and out for work , as along as workplaces are implementing Covid-19 Secure guidance .
Likewise , you can go to cafes , shops , pubs and restaurants , as well as other leisure facilities like gyms , but only with members of your household .
That is unless you live in @ @ @ @ @ @ @ indoor gyms , indoor dance studios , sports facilities and indoor swimming pools must remain closed by law .
Weddings and funerals can still take place following the national guidance , with a limit of 30 attendees for both types of events .
Read more : Matt Hancock : Quarantine could return as second wave hits Europe You can travel in and out of the affected area in order to attend one of the above .
Do I have to shield ?
No – clinically extremely vulnerable people will no longer have to @ @ @ @ @ @ @ , unless they live in Blackburn with Darwen in the North West .
However , You should not visit friends or family in care homes , other than in exceptional circumstances .
Care homes should restrict visits to these circumstances .
Can I celebrate Eid with family and friends ?
The restrictions have been put in place as many Muslims prepare to celebrate Eid this weekend .
Due to higher rates of infection , if you live in this area you should not host or visit friends and family in each other ’ @ @ @ @ @ @ @ said .
It will shortly be illegal to do so , unless specific exemptions apply .
You also should not meet friends and family in other venues – including restaurants or cafes .
Read more : Government imposes quarantine on travellers from Luxembourg Up to two households , or six people from any number of households may meet outdoors , but not in a private garden .
You may attend a mosque or other place or worship , where Covid-19 secure guidance applies , but you must socially distance from people outside of @ @ @

Lockdown in north-west England: What are the new rules?
Last night health secretary Matt Hancock announced via Twitter that millions of people in northern England would be subject to new restrictions after an increase in coronavirus cases.
The new rules, which met with criticism over how they were announced, apply to people in Greater Manchester, east Lancashire and parts of West Yorkshire.
The measures were announced with just two hours notice at 9pm last night, after a meeting between Hancock and local leaders. They will be reviewed on a weekly basis.
Chiefly, the new rules mean that as of midnight last night people from different households will not be allowed to meet in homes or private gardens.
Here’s a breakdown of the new government guidance.
Who can I meet?
Under the new restrictions, you will not be able to meet people you do not live with inside a private home or garden, except where you have formed a support bubble.
In addition, you cannot visit someone else’s home or garden even if they live outside of the affected areas.
Nor can people outside the affected area visit you in your home.
Furthermore, you cannot socialise with people you do not live with in other indoor public venues – such as pubs, restaurants, cafes, shops, places of worship, community centres, leisure and entertainment venues, or visitor attractions.
However, you may attend these venues with people you live with (or are in a support bubble with), as long as you avoid interaction with others.
The government has said that it will pass new laws to enforce the changes to the rules. The police will also be able to take action against those that break these rules, including asking people to disperse and issuing fixed penalty notices starting at £100.
Can I go to work or to the pub?
People who live inside and outside of this area can continue to travel in and out for work, as along as workplaces are implementing Covid-19 Secure guidance.
Likewise, you can go to cafes, shops, pubs and restaurants, as well as other leisure facilities like gyms, but only with members of your household.
That is unless you live in Blackburn, Bradford or Darwen, where indoor gyms, indoor dance studios, sports facilities and indoor swimming pools must remain closed by law.
Weddings and funerals can still take place following the national guidance, with a limit of 30 attendees for both types of events.
You can travel in and out of the affected area in order to attend one of the above.
Do I have to shield?
No – clinically extremely vulnerable people will no longer have to follow the shielding guidance from 1 August, unless they live in Blackburn with Darwen in the North West.
However, You should not visit friends or family in care homes, other than in exceptional circumstances. Care homes should restrict visits to these circumstances.
Can I celebrate Eid with family and friends?
The restrictions have been put in place as many Muslims prepare to celebrate Eid this weekend.
Due to higher rates of infection, if you live in this area you should not host or visit friends and family in each other’s homes or gardens, the government said.
It will shortly be illegal to do so, unless specific exemptions apply. You also should not meet friends and family in other venues – including restaurants or cafes.
Up to two households, or six people from any number of households may meet outdoors, but not in a private garden.
You may attend a mosque or other place or worship, where Covid-19 secure guidance applies, but you must socially distance from people outside of your household.


cityam--2020-07-31--Markets live: FTSE 100 slips as investors mull dire earnings

The FTSE 100 fell on a choppy morning of trading as investors weighed blockbuster earnings from the giant tech companies against dire economic data .
London ’ s premier stock index was down 0.1 per cent at 5,985 points .
The FTSE 250 of mid-cap stocks rose 0.7 per cent , however .
Read more : Big Tech cashes in on worst day for US economy since Great Depression In Europe , Germany ’ s Dax rose 0.3 per cent .
France ’ s CAC 40 was 0.1 per cent higher and the continent-wide Stoxx 600 rose 0.4 per cent @ @ @ @ @ @ @ uncertainty .
It was up one per cent in morning trading at $ 1,976 , pushing towards a fresh all-time high .
The dollar continued to trade at roughly two-year lows against a basket of other currencies .
“ European stocks [ are ] managing to catch some of the Nasdaq ’ s tail winds following a host of strong earnings releases overnight , ” said Joshua Mahony , senior market analyst at IG .
Apple , Amazon , Google and Facebook all released stellar earnings reports yesterday .
They have profited massively @ @ @ @ @ @ @ technology during lockdown even as economies have cratered .
Dire banking earnings failed to put the FTSE 100 .
Natwest – formerly RBS – sunk to a £770m loss in the first half of the year but its shares rose 0.1 per cent as its capital buffers increased .
It put aside £2.9bn to cover loan losses associated with coronavirus .
It was higher than analysts had been expecting .
TSB similarly swung to a loss after setting aside billions of pounds to cover loan losses .
But its shares also rose .
@ @ @ @ @ @ @ Bell , pointed out that even a 0.5 per cent gain for the FTSE 100 today would put it down 2.4 per cent on the month .
Read more : Natwest sinks to a loss as it sets aside £2.9bn for bad loans “ July has been a second bad month in a row for investors in UK stocks with the FTSE 100 index now trading at lows last seen in late-May.
” “ Tobacco , banks and media have been the worst performing FTSE 350 sectors in July , ” he said @ @ @ @ @ @ @ economic data .
The Eurozone economy contracted by a record 12.1 per cent in the second quarter , figures showed today .
Spain ’ s second-quarter performance was worse than expected with a record 18.5 per cent quarter-on-quarter contraction .
Italy suffered a fall in GDP of 17.3 per cent .
The French economy contracted by a record 13.8 per cent in the second quarter .
That was better than analysts had feared , however .
FTSE 100 and other stock market investors chose to shrug off the terrible data , however .
@ @ @ @ @ @ @ and possible stimulus from the US .
Read more : Eurozone economy shrinks by record 12 per cent as pandemic bites “ Traders have adopted a risk-on strategy this morning , even though the risks in relation to the pandemic are higher , ” said David Madden , market analyst at CMC Markets .
“ US politics will remain in play as Republicans and Democrats are still arguing over the finer details of the proposed $ 1 trillion [ £760bn ] stimulus package .
”

Markets live: FTSE 100 slips and dollar suffers worst month in a decade
The FTSE 100 fell in early afternoon trading as investors weighed up weak company earnings and the dollar was set for its worst month in a decade as US coronavirus cases continued to rise.
London’s premier stock index was down 0.3 per cent at 5,969 points. The FTSE 250 of mid-cap stocks rose 0.4 per cent, however.
Read more: Big Tech cashes in on worst day for US economy since Great Depression
In Europe, Germany’s Dax rose 0.7 per cent. France’s CAC 40 was 0.1 per cent higher and the continent-wide Stoxx 600 rose 0.4 per cent.
Gold continued its stellar rise amid economic uncertainty. It was last up 0.9 per cent at $1,974, pushing towards a fresh all-time high.
The dollar dipped, putting it on track for its worst month in a decade as coronavirus cases surge.
US stocks were set to higher after blockbuster earnings from Apple, Amazon, Google and Facebook yesterday.
“European stocks [are] managing to catch some of the Nasdaq’s tail winds following a host of strong earnings releases overnight,” said Joshua Mahony, senior market analyst at IG.
FTSE 100 rises cautiously after weak bank earnings
Dire banking earnings failed to put the FTSE 100. Natwest – formerly RBS – sunk to a £770m loss in the first half of the year but its shares rose 1.3 per cent as its capital buffers increased.
It put aside £2.9bn to cover loan losses associated with coronavirus. It was higher than analysts had been expecting.
TSB similarly swung to a loss after setting aside billions of pounds to cover loan losses. But its shares also rose.
Russ Mould, investment director at AJ Bell, pointed out that even a 0.5 per cent gain for the FTSE 100 today would put it down 2.4 per cent on the month.
Read more: Natwest sinks to a loss as it sets aside £2.9bn for bad loans
“July has been a second bad month in a row for investors in UK stocks with the FTSE 100 index now trading at lows last seen in late-May.”
“Tobacco, banks and media have been the worst performing FTSE 350 sectors in July,” he said.
It was not all bad, however. British Land Company was the biggest riser, climbing 4.6 per cent after Nationwide said house prices rebounded in July.
Land Securities Group jumped 3.6 per cent. Private equity firm 3I climbed 3.2 per cent.
European stocks unfazed by dire GDP figures
Investors were also confronted with dire economic data. The Eurozone economy contracted by a record 12.1 per cent in the second quarter, figures showed today.
Spain’s second-quarter performance was worse than expected with a record 18.5 per cent quarter-on-quarter contraction. Italy suffered a fall in GDP of 17.3 per cent.
The French economy contracted by a record 13.8 per cent in the second quarter. That was better than analysts had feared, however.
Read more: Eurozone economy shrinks by record 12 per cent as pandemic bites
FTSE 100 and other stock market investors chose to shrug off the terrible data, however. They instead looked towards a second-half rebound and possible stimulus from the US.
“Traders have adopted a risk-on strategy this morning, even though the risks in relation to the pandemic are higher,” said David Madden, market analyst at CMC Markets.
Dollar suffers worst month in a decade
The US dollar fell 0.1 per cent on its index against other currencies. That put it on track for a fall of almost five per cent over the month, its worst drop in a decade.
The greenback has lost favour with investors as coronavirus cases have surged in the US. They rose by 65,900 yesterday, taking the total number of cases to 4.4m. The US has now suffered 150,300 deaths.
Investors fear that states could be forced to reimpose strict lockdowns, having already brought back some rules. Federal Reserve chairman Jay Powell warned on Wednesday that data was “pointing to a slowing in the pace of the recovery”.
Stuart Rumble, multi-asset investment director at Fidelity International, said: “The relentless spread of Covid-19 across the US and improving risk sentiment elsewhere is crimping demand for the safe-haven reserve currency.”
The slump in the dollar has led to the best month for the euro in a decade. And the pound is heading for its best July in 30 years, which is weighing on the FTSE 100.
Edward Moya, senior market analyst at currency firm Oanda, said the dollar is likely to “remain a punching bag”.
“Real yields continue to fall deeper into negative territory, Europe seems like they will have a better second half, and the Fed is likely going to telegraph more moves in September.”


Placepoint Pointers

The final day of the Qatar Goodwood Festival presents one of it ’ s trickiest Tote Placepot opportunities – highlighted so ably by the £809 dividend 12 months ago .
Nevertheless , we ’ re prepared to go through the six races on Saturday to pick out your Placepot banker , a couple of outsiders to consider as well as pointers towards the potential ‘ Torpedo leg ’ , where we could see those market leaders unplaced .
Remember , you just need to find a horse to place in the first six races of the day , with the @ @ @ @ @ @ @ it all available to stream by logging into your Tote account .
New at Tote ?
Sign up today for a £10 Risk Free bet .
It ’ s Good to Firm at Goodwood after the scorching temperatures on Friday , and with no rain forecast it ’ s unlikely to slow up .
Expect things to be fast and furious on the Sussex Downs .
While the feature of the day the Stewards ’ Cup has a reasonable record for favourites , the consolation race ( Leg 1 – 1:50 ) that @ @ @ @ @ @ @ winning favourite in the last 15 years , with 55 % of those making the frame sent off at 14/1 or bigger .
With that in mind , including a couple of bigger priced chances in your perm could pay dividends .
SPIRITED GUEST enjoyed a fast pace when going down a head in a Windsor handicap over today ’ s trip off a mark 2lbs higher in June .
He was slightly disappointing at Yarmouth last time out , but was largely consistent prior to that run and can bounce back .
@ @ @ @ @ @ @ campaign well , scoring at Newmarket under Lewis Edmunds .
His run at York may have been slightly disappointing at face value , but he wasn ’ t beaten all that far and with four subsequent winners coming out of the race , it looks like he was pitched in a pretty hot race .
The penultimate leg of the Placepot takes in a 7f handicap where nine go to post , with a handful looking like real improvers .
The stand-out of those looks to be SOCIETY LION ( 4:10 ) who @ @ @ @ @ @ @ in handicaps , may just be ahead of his rating .
A winner on his final start as a juvenile , Sir Michael Stoute ’ s colt has been well backed on two handicap runs this term , but has bumped into some smart ones .
The horse that got the better of him last time by just a neck was then placed off 6lb higher , while the fourth and sixth in that race have won since .
The selection still looks to be improving and is hard to knock out of @ @ @ @ @ @ @ the Placepot ( 2:25 ) , QULOOB looks like he could be a dark horse to hit the frame .
He was twice a winner over 10f for Owen Burrows in 2017 , but has been competing at further than today ’ s 1m6f trip since switching to Gary Moore , largely to little effect .
He was beaten just half a length off a mark 2lb higher on his only run at this trip for his current yard last September , and looks likely to appreciate a drop in trip for a @ @ @ @ @ @ @ winners .
DINGLE ( 4:40 ) showed enough pace early on debut to suggest he has a future ahead of him .
He tied up late that day at Newmarket , so if it was inexperience , rather than lack of stamina , he ’ s worth siding with .
Two in that race have come out to be placed at Listed and Group 2 level , so it looks like it was a decent race .
This has the prospect to be the same , but he ’ s interesting .
The @ @ @ @ @ @ @ to knock out a huge chunk of the units that manage to make their way into the fourth leg .
In 2018 , 85 % of those that had made it to the race , got no further .
For that reason , having three representatives could be worthwhile .
NAHAAR has the hallmarks of a very fine sprinter and could be the cliched ‘ Group horse in a handicap ’ here .
Having started the campaign off at 7f , a drop to six saw him go close in the Silver Wokingham @ @ @ @ @ @ @ uncertain terms at Newbury last time out .
Up 7lbs here , he ’ s unlikely to be far away .
While he ’ s likely to find two or three better handicapped , the grand old campaigner DANZENO remains as consistent as ever .
He ’ s only been out of the places twice in 10 starts since the beginning of 2019 , and after an excellent second over 5f last time , the return to this trip will surely see him deliver a big run again .
Another that is likely @ @ @ @ @ @ @ ’ s WEDDING DATE .
He caught the eye running on strongly over 5f last time , and looks a lurker in the market .

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Placepoint Pointers
CHICHESTER, ENGLAND – JULY 31: Oisin Murphy riding Ventura Diamond (light blue/orange) win The British E.B.F. EBF Maiden Fillies’ Stakes at Goodwood Racecourse on July 31, 2020 in Chichester, England. Owners are allowed to attend if they have a runner at the meeting otherwise racing remains behind closed doors to the public due to the Coronavirus pandemic. (Photo by Alan Crowhurst/Getty Images)
The final day of the Qatar Goodwood Festival presents one of it’s trickiest Tote Placepot opportunities – highlighted so ably by the £809 dividend 12 months ago.
Nevertheless, we’re prepared to go through the six races on Saturday to pick out your Placepot banker, a couple of outsiders to consider as well as pointers towards the potential ‘Torpedo leg’, where we could see those market leaders unplaced.
Remember, you just need to find a horse to place in the first six races of the day, with the action kicking off at 1:50, with it all available to stream by logging into your Tote account.
New at Tote? Sign up today for a £10 Risk Free bet.
How’s the Going?
It’s Good to Firm at Goodwood after the scorching temperatures on Friday, and with no rain forecast it’s unlikely to slow up. Expect things to be fast and furious on the Sussex Downs.
The Big Trend
While the feature of the day the Stewards’ Cup has a reasonable record for favourites, the consolation race (Leg 1 – 1:50) that kicks us off has seen just one winning favourite in the last 15 years, with 55% of those making the frame sent off at 14/1 or bigger. With that in mind, including a couple of bigger priced chances in your perm could pay dividends.
SPIRITED GUEST enjoyed a fast pace when going down a head in a Windsor handicap over today’s trip off a mark 2lbs higher in June. He was slightly disappointing at Yarmouth last time out, but was largely consistent prior to that run and can bounce back.
HIGHLY SPRUNG was another that started his campaign well, scoring at Newmarket under Lewis Edmunds. His run at York may have been slightly disappointing at face value, but he wasn’t beaten all that far and with four subsequent winners coming out of the race, it looks like he was pitched in a pretty hot race.
Placepot Banker
The penultimate leg of the Placepot takes in a 7f handicap where nine go to post, with a handful looking like real improvers. The stand-out of those looks to be SOCIETY LION (4:10) who although yet to get off the mark in handicaps, may just be ahead of his rating.
A winner on his final start as a juvenile, Sir Michael Stoute’s colt has been well backed on two handicap runs this term, but has bumped into some smart ones. The horse that got the better of him last time by just a neck was then placed off 6lb higher, while the fourth and sixth in that race have won since. The selection still looks to be improving and is hard to knock out of the frame.
Outsiders to Consider
In Leg 2 of the Placepot (2:25), QULOOB looks like he could be a dark horse to hit the frame. He was twice a winner over 10f for Owen Burrows in 2017, but has been competing at further than today’s 1m6f trip since switching to Gary Moore, largely to little effect. He was beaten just half a length off a mark 2lb higher on his only run at this trip for his current yard last September, and looks likely to appreciate a drop in trip for a yard no strangers to big priced Goodwood winners.
DINGLE (4:40) showed enough pace early on debut to suggest he has a future ahead of him. He tied up late that day at Newmarket, so if it was inexperience, rather than lack of stamina, he’s worth siding with. Two in that race have come out to be placed at Listed and Group 2 level, so it looks like it was a decent race. This has the prospect to be the same, but he’s interesting.
Torpedo leg
The feature of the day has the potential to knock out a huge chunk of the units that manage to make their way into the fourth leg. In 2018, 85% of those that had made it to the race, got no further. For that reason, having three representatives could be worthwhile.
NAHAAR has the hallmarks of a very fine sprinter and could be the cliched ‘Group horse in a handicap’ here. Having started the campaign off at 7f, a drop to six saw him go close in the Silver Wokingham before he landed a gamble in no uncertain terms at Newbury last time out. Up 7lbs here, he’s unlikely to be far away.
While he’s likely to find two or three better handicapped, the grand old campaigner DANZENO remains as consistent as ever. He’s only been out of the places twice in 10 starts since the beginning of 2019, and after an excellent second over 5f last time, the return to this trip will surely see him deliver a big run again.
Another that is likely to appreciate this trip is Richard Hannon’s WEDDING DATE. He caught the eye running on strongly over 5f last time, and looks a lurker in the market.
Our Placepot Perm
Leg 1: 6,12,17
Leg 2: 6,9
Leg 3: 2,4
Leg 4: 4,8,25
Leg 5: 1
Leg 6: 2,7
3 x 2 x 2 x 3 x 1 x 2 = 72 lines