cityam--2020-10-31--Sazka taps Olympics chief Keith Mills to lead National Lottery bid

European lottery group Sazka has appointed the man behind London ’ s successful bid for the 2012 Olympics to lead its tender for the UK ’ s National Lottery licence .
Earlier this month Sazka , which is Europe ’ s largest lottery owner , launched a surprise challenge to take the licence from current operator Camelot for the first time since the prize draw began in 1994 .
Read more : Sazka mounts challenge against Camelot to take UK National Lottery licence The company today said that Sir Keith Mills , who led the London 2012 campaign and served @ @ @ @ @ @ @ Committee , will act as bid chairman .
Mills said he believed the UK National Lottery needed to “ grow and be engaging if it is to continue to fund the thousands of good causes every year ” .
“ Our lottery is a national treasure with nearly 26 years of history ; however , the landscape has changed immeasurably since it was first launched back in 1994 , ” he said .
“ The challenge now is to ensure the lottery connects with people right across the country , making it fresh @ @ @ @ @ @ @ bringing new ways that are relevant for today and tomorrow ’ s generation.
” In addition to spearheading the London Olympics , Mills is also known for his track record as an entrepreneur , establishing the Air Miles and Nectar customer loyalty programmes .
In 2014 he set up the Invictus Games alongside Prince Harry , and he also chairs the Royal Foundation of The Duke and Duchess of Cambridge .
The appointment will come as a major boost to Sazka ’ s efforts to take control of the lottery when Camelot ’ @ @ @ @ @ @ @ group argues that its experience running lotteries in the Czech Republic , Austria , Italy , Greece and Cyprus will help it “ revitalise the UK National Lottery , increasing sales and money raised for good causes ” .
Read more : Camelot gets six month National Lottery extension Sazka is now assembling a UK team for its efforts and has appointed former London 2012 employee Alastair Ruxton as bid director .
The National Lottery licence contest is being run by the Gambling Commission , which will select the winning bid next year @

Sazka taps Olympics chief Keith Mills to lead National Lottery bid
Sir Keith Mills will lead Sazka’s bid for the UK National Lottery licence
European lottery group Sazka has appointed the man behind London’s successful bid for the 2012 Olympics to lead its tender for the UK’s National Lottery licence.
Earlier this month Sazka, which is Europe’s largest lottery owner, launched a surprise challenge to take the licence from current operator Camelot for the first time since the prize draw began in 1994.
The company today said that Sir Keith Mills, who led the London 2012 campaign and served as deputy chairman of the London Organising Committee, will act as bid chairman.
Mills said he believed the UK National Lottery needed to “grow and be engaging if it is to continue to fund the thousands of good causes every year”.
“Our lottery is a national treasure with nearly 26 years of history; however, the landscape has changed immeasurably since it was first launched back in 1994,” he said.
“The challenge now is to ensure the lottery connects with people right across the country, making it fresh and exciting as it once was, bringing new ways that are relevant for today and tomorrow’s generation.”
In addition to spearheading the London Olympics, Mills is also known for his track record as an entrepreneur, establishing the Air Miles and Nectar customer loyalty programmes.
In 2014 he set up the Invictus Games alongside Prince Harry, and he also chairs the Royal Foundation of The Duke and Duchess of Cambridge.
The appointment will come as a major boost to Sazka’s efforts to take control of the lottery when Camelot’s licence expires in 2023.
The group argues that its experience running lotteries in the Czech Republic, Austria, Italy, Greece and Cyprus will help it “revitalise the UK National Lottery, increasing sales and money raised for good causes”.
Sazka is now assembling a UK team for its efforts and has appointed former London 2012 employee Alastair Ruxton as bid director.
The National Lottery licence contest is being run by the Gambling Commission, which will select the winning bid next year.


cityam--2020-10-30--Covid-19 now spreading faster than worst case scenario, Sage warns

Covid-19 is now spreading “ significantly ” faster across England than the government ’ s worst-case scenario , top scientists have warned .
Newly published documents from the Scientific Advisory Group for Emergencies ( Sage ) warned the rapid spread of the virus meant the number of deaths this winter could surpass the 85,000 previously forecast .
Read more : Coronavirus : London R rate catapults to highest in the country The document , which is dated 14 October , estimates that there are between 43,000 and 74,000 new infections per day in England .
“ This is significantly above @ @ @ @ @ @ @ , where the number of daily infections in England remained between 12,000 – 13,000 throughout October , ” it said .
The document added that the number of infections and hospital admissions were breaching the worst-case scenario , while the number of daily deaths was “ almost certain ” to exceed this in the next two weeks .
A further 274 coronavirus deaths were recorded in the last 24 hours .
However , the scientists said their projections should not be interpreted as forecasts and predictions , but rather intended to project potential @ @ @ @ @ @ @ figures do not take into account the rollout of recent restrictions , including local lockdowns .
The document said that if the number of new infections falls in the “ very near future ” , the trends could fall back below the worst case scenario .
But it warned that if the R rate remained above 1 , the virus will “ further diverge from the planning scenario ” .
According to the document , the R rate in the UK is currently between 1.3 and 1.5 .
Read more : US breaks @ @ @ @ @ @ @ infections hit nine million It comes amid renewed calls for a national lockdown to help halt the spread of the virus as infections continue to rise .
The government has previously resisted calls for a so-called circuit breaker lockdown , opting instead to roll out tiered restrictions in different parts of the country .
Fears that London could move into Tier 3 — the highest lockdown level — have increased in recent days after it emerged the capital has the highest R rate in the country .
However , the prevalence of the @ @ @ @ @ @ @ in other regions , such as Lancashire , Manchester , Liverpool and West Yorkshire .

Covid-19 now spreading faster than worst case scenario, Sage warns
The warnings come amid growing calls for a national lockdown to halt the spread of Covid-19
Covid-19 is now spreading “significantly” faster across England than the government’s worst-case scenario, top scientists have warned.
Newly published documents from the Scientific Advisory Group for Emergencies (Sage) warned the rapid spread of the virus meant the number of deaths this winter could surpass the 85,000 previously forecast.
The document, which is dated 14 October, estimates that there are between 43,000 and 74,000 new infections per day in England.
“This is significantly above the profile of the reasonable worst-case scenario, where the number of daily infections in England remained between 12,000 – 13,000 throughout October,” it said.
The document added that the number of infections and hospital admissions were breaching the worst-case scenario, while the number of daily deaths was “almost certain” to exceed this in the next two weeks.
A further 274 coronavirus deaths were recorded in the last 24 hours.
However, the scientists said their projections should not be interpreted as forecasts and predictions, but rather intended to project potential outcomes based on current trends.
The figures do not take into account the rollout of recent restrictions, including local lockdowns.
The document said that if the number of new infections falls in the “very near future”, the trends could fall back below the worst case scenario.
But it warned that if the R rate remained above 1, the virus will “further diverge from the planning scenario”. According to the document, the R rate in the UK is currently between 1.3 and 1.5.
It comes amid renewed calls for a national lockdown to help halt the spread of the virus as infections continue to rise.
The government has previously resisted calls for a so-called circuit breaker lockdown, opting instead to roll out tiered restrictions in different parts of the country.
Fears that London could move into Tier 3 — the highest lockdown level — have increased in recent days after it emerged the capital has the highest R rate in the country.
However, the prevalence of the virus in London is still lower than in other regions, such as Lancashire, Manchester, Liverpool and West Yorkshire.


cityam--2020-10-30--Nightclub owner Deltic puts itself up for sale as cash dries up

The UK ’ s largest nightclub owner Deltic Group has put itself up for sale after months of closure due to the Covid-19 crisis has driven it to the brink of collapse .
Deltic , which owns brands including Pryzm and Atik , has begun a sale process while it considers other options , including a company voluntary arrangement , in a bid to survive .
Read more : Nightclub owner Deltic seeks buyer as Covid-19 dances up a storm Earlier this month it emerged the group had tapped accountancy firm BDO to explore potential options as the pandemic drained @ @ @ @ @ @ @ Marks today urged the government to do more to support the UK ’ s nightclub sector , which has been forced to remain shuttered since March .
“ We have to look at every option going and part of that is to see what other capital is out there to get the business through this , ” he told the Financial Times .
Deltic has already cut 1,000 staff — roughly half its workforce — though Marks said the recent extension to the government ’ s job support scheme had prevented further job @ @ @ @ @ @ @ had reopened around a tenth of its floorspace to operate as bars , but this was only bringing in £80,000 per month .
The company is currently burning through £1m per month .
More than 10 potential buyers , the majority of whom are private equity firms , are said to have expressed interest in Deltic , which owns 52 venues across the UK .
Read more : Bouncers to enforce mask-wearing in nightclubs under sector ’ s reopening proposals The UK ’ s nightclub sector is among the hardest hit by the @ @ @ @ @ @ @ the prospect of reopening remains out of sight .
A survey carried out earlier this month by the Save Nightclubs campaign warned that more than half of UK clubs would go out of business by the end of the month , while four in five are likely to shut by Christmas unless the government provided additional support .

Nightclub owner Deltic puts itself up for sale as cash dries up
Deltic Group, which runs 52 venues across the UK, has been forced to remain closed since March
The UK’s largest nightclub owner Deltic Group has put itself up for sale after months of closure due to the Covid-19 crisis has driven it to the brink of collapse.
Deltic, which owns brands including Pryzm and Atik, has begun a sale process while it considers other options, including a company voluntary arrangement, in a bid to survive.
Earlier this month it emerged the group had tapped accountancy firm BDO to explore potential options as the pandemic drained its cash reserves.
Chief executive Peter Marks today urged the government to do more to support the UK’s nightclub sector, which has been forced to remain shuttered since March.
“We have to look at every option going and part of that is to see what other capital is out there to get the business through this,” he told the Financial Times.
Deltic has already cut 1,000 staff — roughly half its workforce — though Marks said the recent extension to the government’s job support scheme had prevented further job losses.
He added that the company had reopened around a tenth of its floorspace to operate as bars, but this was only bringing in £80,000 per month. The company is currently burning through £1m per month.
More than 10 potential buyers, the majority of whom are private equity firms, are said to have expressed interest in Deltic, which owns 52 venues across the UK.
The UK’s nightclub sector is among the hardest hit by the pandemic, and further lockdown measures mean the prospect of reopening remains out of sight.
A survey carried out earlier this month by the Save Nightclubs campaign warned that more than half of UK clubs would go out of business by the end of the month, while four in five are likely to shut by Christmas unless the government provided additional support.


cityam--2020-10-30--Tech stocks drag down Wall Street as FTSE 100 suffers worst month since March

Sliding tech stocks dragged down Wall Street this afternoon , while the FTSE rounded off its worst monthly fall since March amid a wave of new coronavirus lockdowns .
The three main US indexes were on course for their worst week since March as ongoing pandemic-related uncertainty and the looming presidential election sparked market volatility .
Read more : US breaks daily record for coronavirus cases as total infections hit nine million It followed losses across European markets amid a resurgence in Covid-19 cases and a spate of new lockdown measures .
The FTSE 100 ended flat at 5,577 points @ @ @ @ @ @ @ But the mid-cap FTSE 250 , which is more domestically focused , closed up 0.21 per cent .
The lacklustre trading rounded off the FTSE ’ s worst month of trading since March , while European stocks also posted their worst weekly and monthly declines in seven months .
Stocks around the world have fallen this week as coronavirus cases rise and governments put in place new restrictions .
Cases in the US hit a new record yesterday , with more than 90,000 recorded .
The country is also in the middle of @ @ @ @ @ @ @ bill is likely to take months to materialise .
France and Germany have put in place strict new lockdown measures this week , in an effort to control Covid .
The UK has put more parts of the country under the strictest “ Tier 3 ” restrictions .
“ European shares once again fell and then tried to come off the flatline in early trade on Friday after another down day in the previous session , ” said Neil Wilson , chief market analyst at Markets.com .
“ But the mood is pessimistic.
@ @ @ @ @ @ @ was down 0.36 per cent , marking losses of more than six per cent this week .
France ’ s CAC 40 was trading slightly higher , while the continent-wide Stoxx 600 edged 0.30 per cent higher on strong GDP figures .
French stocks were supported by the data that showed a stronger-than-expected 18.2 per cent economic expansion in the third quarter .
It was the strongest growth in the Eurozone , which expanded by a record amount but still remained around four per cent smaller than before the pandemic .
Read more @ @ @ @ @ @ @ more than 10 per cent amid second wave There were mixed performers on the FTSE 100 , as overall negative sentiment was offset by more update company results .
Oil major Shell and banking giants Natwest and Lloyds were among the biggest risers on the blue-chip index after their quarterly results came in ahead of expectations .
Ocado led the fallers with a 3.2 per cent decline , while cyber firm Avast and Just Eat also ended in the red .
Downbeat sentiment in Europe carried over into US trading this afternoon , @ @ @ @ @ @ @ afternoon trading .
The Dow Jones was down 1.66 per cent , while the S & P 500 lost more than two per cent .
The tech-heavy Nasdaq shed almost three per cent .
In addition to Covid concerns , US stocks were also hit by a tech sell-off .
Amazon , Apple , Facebook and Google last night posted bumper results , showing that online advertising bounced back strongly after a tough second quarter .
But the positive figures failed to translate on the markets , as investors took a more cautious @ @ @ @ @ @ @ iPhone sales in the third quarter due to the delayed launch of the iPhone 12 , dropped more than six per cent .
Despite recording record quarterly sales , Amazon dropped 5.8 per cent , while Facebook was trading 6.7 per cent lower .
Twitter , which missed expectations for new users , slumped more than 20 per cent .
“ There is a big selloff in those big tech names because they didn ’ t live up to the hype and people are really worried about next week ’ s election , @ @ @ @ @ @ @ officer at Bokeh Capital Partners .
David Madden at CMC Markets said : “ The mood on Wall Street is bearish as traders are fearful for the health situation .
“ Uncertainty surrounding the presidential election is a factor as it is likely to have a big impact on the proposed stimulus package – when it might be delivered and what size of a programme could be revealed .
”

Tech stocks drag down Wall Street as FTSE 100 suffers worst month since March
Global stocks markets have suffered their worst month since March
Sliding tech stocks dragged down Wall Street this afternoon, while the FTSE rounded off its worst monthly fall since March amid a wave of new coronavirus lockdowns.
The three main US indexes were on course for their worst week since March as ongoing pandemic-related uncertainty and the looming presidential election sparked market volatility.
Read more: US breaks daily record for coronavirus cases as total infections hit nine million
It followed losses across European markets amid a resurgence in Covid-19 cases and a spate of new lockdown measures.
The FTSE 100 ended flat at 5,577 points after a choppy day of trading. But the mid-cap FTSE 250, which is more domestically focused, closed up 0.21 per cent.
The lacklustre trading rounded off the FTSE’s worst month of trading since March, while European stocks also posted their worst weekly and monthly declines in seven months.
Stocks around the world have fallen this week as coronavirus cases rise and governments put in place new restrictions.
Cases in the US hit a new record yesterday, with more than 90,000 recorded. The country is also in the middle of a messy election. And a stimulus bill is likely to take months to materialise.
France and Germany have put in place strict new lockdown measures this week, in an effort to control Covid. The UK has put more parts of the country under the strictest “Tier 3” restrictions.
“European shares once again fell and then tried to come off the flatline in early trade on Friday after another down day in the previous session,” said Neil Wilson, chief market analyst at Markets.com. “But the mood is pessimistic.”
European stocks track FTSE 100 downwards
In Germany, the Dax index was down 0.36 per cent, marking losses of more than six per cent this week.
France’s CAC 40 was trading slightly higher, while the continent-wide Stoxx 600 edged 0.30 per cent higher on strong GDP figures.
French stocks were supported by the data that showed a stronger-than-expected 18.2 per cent economic expansion in the third quarter.
It was the strongest growth in the Eurozone, which expanded by a record amount but still remained around four per cent smaller than before the pandemic.
Read more: IMF: UK economy to shrink more than 10 per cent amid second wave
FTSE risers and fallers
There were mixed performers on the FTSE 100, as overall negative sentiment was offset by more update company results.
Oil major Shell and banking giants Natwest and Lloyds were among the biggest risers on the blue-chip index after their quarterly results came in ahead of expectations.
Ocado led the fallers with a 3.2 per cent decline, while cyber firm Avast and Just Eat also ended in the red.
Wall Street slides
Downbeat sentiment in Europe carried over into US trading this afternoon, as the three main indexes slipped in afternoon trading.
The Dow Jones was down 1.66 per cent, while the S&P 500 lost more than two per cent. The tech-heavy Nasdaq shed almost three per cent.
In addition to Covid concerns, US stocks were also hit by a tech sell-off.
Amazon, Apple, Facebook and Google last night posted bumper results, showing that online advertising bounced back strongly after a tough second quarter.
But the positive figures failed to translate on the markets, as investors took a more cautious approach.
Apple, which posted disappointing iPhone sales in the third quarter due to the delayed launch of the iPhone 12, dropped more than six per cent.
Despite recording record quarterly sales, Amazon dropped 5.8 per cent, while Facebook was trading 6.7 per cent lower.
Twitter, which missed expectations for new users, slumped more than 20 per cent.
“There is a big selloff in those big tech names because they didn’t live up to the hype and people are really worried about next week’s election,” said Kim Forrest, chief investment officer at Bokeh Capital Partners.
David Madden at CMC Markets said: “The mood on Wall Street is bearish as traders are fearful for the health situation.
“Uncertainty surrounding the presidential election is a factor as it is likely to have a big impact on the proposed stimulus package – when it might be delivered and what size of a programme could be revealed.”


cityam--2020-10-30--Waterloo and City line closure set to continue indefinitely

No date has yet been set for the Waterloo and City tube line to be reopened , London Mayor Sadiq Khan has said .
The route – London ’ s second-most intensively used after the Victoria line – has been closed since lockdown began in March .
Read more : City of London demands answers on reopening of Waterloo and City Line In answer to a question from Assembly Member Caroline Pidgeon , Khan said that the Waterloo and City line would remain closed to concentrate resources on other routes .
“ The Waterloo & City line and Central line @ @ @ @ @ @ @ ” , he said .
“ The Central line is one of the busiest on the network , and throughout the pandemic , has seen a smaller decline in customer numbers than other lines , which has enabled TfL to support the journeys of many people who are less able to work from home .
“ As a result , TfL prioritised Waterloo & City line train operators to the Central line to ensure it can run a frequent and reliable service , enabling social distancing where demand remains comparatively high.
” Before @ @ @ @ @ @ @ with the City View podcast and key market data TfL said it was continuing to closely monitor customer demand to inform its decision about when to re-open the Waterloo & City line .
It is monitoring daily arrivals at Waterloo mainline station , which have remained low , and demand on alternative routes between Waterloo and Bank .
Earlier this week the City of London ’ s policy chair wrote to TfL commissioner Andy Byford to ask for clarity on when the route would be reopened .
The line , which connects the @ @ @ @ @ @ @ is a lifeline for City workers .
Read more : London Tories call for Waterloo and City Tube line to reopen In her letter , Catherine McGuinness asked for details of the criteria on which reopening the line would be based .
It is the only Tube Line which has not been reopened after lockdown .

Waterloo and City line closure set to continue indefinitely
The Waterloo and City line has been closed since lockdown was imposed in March.
No date has yet been set for the Waterloo and City tube line to be reopened, London Mayor Sadiq Khan has said.
The route – London’s second-most intensively used after the Victoria line – has been closed since lockdown began in March.
In answer to a question from Assembly Member Caroline Pidgeon, Khan said that the Waterloo and City line would remain closed to concentrate resources on other routes.
“The Waterloo & City line and Central line operate a shared pool of train operators”, he said.
“The Central line is one of the busiest on the network, and throughout the pandemic, has seen a smaller decline in customer numbers than other lines, which has enabled TfL to support the journeys of many people who are less able to work from home.
“As a result, TfL prioritised Waterloo & City line train operators to the Central line to ensure it can run a frequent and reliable service, enabling social distancing where demand remains comparatively high.”
Before the Open newsletter: Start your day with the City View podcast and key market data
TfL said it was continuing to closely monitor customer demand to inform its decision about when to re-open the Waterloo & City line.
It is monitoring daily arrivals at Waterloo mainline station, which have remained low, and demand on alternative routes between Waterloo and Bank.
Earlier this week the City of London’s policy chair wrote to TfL commissioner Andy Byford to ask for clarity on when the route would be reopened.
The line, which connects the Square Mile to commuter hub Waterloo, is a lifeline for City workers.
In her letter, Catherine McGuinness asked for details of the criteria on which reopening the line would be based.
It is the only Tube Line which has not been reopened after lockdown.


cityam--2020-10-30--Fun in the age of Covid: How to enjoy Halloween weekend

While coronavirus continues to scupper all but the most determined of fun-seekers , the London cultural scene is largely just getting on with things as best it can .
In this new regular column , we fill you in on the the ever-changing restrictions and give you a list of ways to spend a perfect , Covid-safe Halloween Weekend .
The advice : The hospitality sector continues to be hard hit by Tier 2 restrictions , with no mixed groups allowed to meet indoors ( although there is a grey area over business lunches , which it seems are allowed @ @ @ @ @ @ @ , we suggest you take advantage of this incredible , user-generated map of all the pubs in London with outdoor heaters .
With pins from Barnet to Surbiton , you ’ re sure to find a drinking hole where you can meet friends without having to pretend you ’ re having a weekend business meeting .
The map will be updated every two weeks , so if your favourite pub isn ’ t listed , it may be added soon .
Happy Halloween weekend !
Halloween weekend and the Day of the Dead @ @ @ @ @ @ @ restaurants cashing in on the double-whammy of Halloween and The Day of the Dead .
This year is different , of course , with restrictions making most social gatherings all but impossible .
Still , we have pulled together a guide for enjoying Halloween as best we can , from Bloody Mary doughnuts to beer and spooky decorations delivered to your door .
Day of the Dead , meanwhile , technically falls on Monday , but if you want to get into the Mexican spirit , here ’ s our guide , which @ @ @ @ @ @ @ popping up in London Bridge ’ s Santo Remedio on Sunday .
If you ’ re in the market for something a little more traditional , our Life & Style editor Steve Dinneen visited Pantechnicon , a vast new eating and drinking complex in Knightsbridge , where the minimalist styles of Scandinavia and Japan meet in wooden harmony .
Pick between Nordic and Japanese food and enjoy a frankly bonkers list of cocktails that provide theatre as well as merriment .
The advice : Going into the weekend , the government advice around @ @ @ @ @ @ @ means no mixing between households in indoor areas , but most galleries are open as usual .
It is strongly advised to book before you go , however , with timed tickets , cashless payments and social distancing mandatory .
The Tate Britain returns with one of the most beloved British painters , JMW Turner .
This blockbuster exhibition is an “ Imax-sized naval blockbuster ” , a collection of masterpieces so vast you could comfortably drown in those exquisitely-crafted waves for an entire afternoon .
Nobody captured the grandeur and turmoil of @ @ @ @ @ @ @ and from our standpoint in 2020 , it ’ s fascinating to get a glimpse of another age in the grip of vast and unknowable changes .
If you want to top up your dose of culture without having to ride public transport , the Barbican has launched a new audio-art project that you can tune into through its website .
Consisting of three “ rooms ” , Soundhouse : Intimacy and Distance invites artists Ariana Martinez , Axel Kacoutié and Arlie Adlington to curate a “ shared listening experience ” through which @ @ @ @ @ @ @ between them .
The pieces can not be skipped through and play on a loop , meaning each person is listening to the same thing .
Through multi-layered sound , including music and speech , the free virtual exhibition explores ideas from “ the political power of personal storytelling to the sculptural qualities of sound ” .
The advice : With major cinema chains either closing or offering screenings at weekends only , there are major disruptions to anything approaching a regular schedule over the weekend , with the silver lining being that @ @ @ @ @ @ @ few days on various streaming channels .
The Painter and the Thief Norwegian documentary filmmaker Benjamin Ree ( 2016 ’ s Magnus ) brings us The Painter and the Thief , an unusual real-life tale of crime and reconciliation .
It follows an artist who strikes up a friendship with the drug addict who stole her paintings .
It ’ s one of the most surprising , heartwarming documentaries of the year – who needs horror movies just because it ’ s Halloween weekend ?
Riz Ahmed lays down his credentials as one @ @ @ @ @ @ @ with a bravura performance in Mogul Mowgli .
Playing a rapper on the cusp of super-stardom returning to his London roots , it explores what it means to be an ethnic minority trapped between the desire to “ fit in ” and the need to express your true self , says James Luxford in our review .

Fun in the age of Covid: How to enjoy Halloween weekend
Riz Ahmed in Mogul Mowgli
While coronavirus continues to scupper all but the most determined of fun-seekers, the London cultural scene is largely just getting on with things as best it can. In this new regular column, we fill you in on the the ever-changing restrictions and give you a list of ways to spend a perfect, Covid-safe Halloween Weekend.
Food and drink
The advice: The hospitality sector continues to be hard hit by Tier 2 restrictions, with no mixed groups allowed to meet indoors (although there is a grey area over business lunches, which it seems are allowed).
Bars and restaurants in London with heated outdoor spaces
Taking those guidelines into account, we suggest you take advantage of this incredible, user-generated map of all the pubs in London with outdoor heaters.
With pins from Barnet to Surbiton, you’re sure to find a drinking hole where you can meet friends without having to pretend you’re having a weekend business meeting.
The map will be updated every two weeks, so if your favourite pub isn’t listed, it may be added soon. Happy Halloween weekend!
Day of the Dead festivities in Mexico occur over two days in an explosion of colour and joy. (Photo by Emma McIntyre/Getty Images)
Halloween weekend and the Day of the Dead
This weekend would usually be filled with restaurants cashing in on the double-whammy of Halloween and The Day of the Dead.
This year is different, of course, with restrictions making most social gatherings all but impossible. Still, we have pulled together a guide for enjoying Halloween as best we can, from Bloody Mary doughnuts to beer and spooky decorations delivered to your door.
Day of the Dead, meanwhile, technically falls on Monday, but if you want to get into the Mexican spirit, here’s our guide, which includes the down-low on a guest bartender popping up in London Bridge’s Santo Remedio on Sunday.
Pantechnicon, where Nordic and Japanese aesthetics meet in wooden harmony
Pantechnicon
If you’re in the market for something a little more traditional, our Life&Style editor Steve Dinneen visited Pantechnicon, a vast new eating and drinking complex in Knightsbridge, where the minimalist styles of Scandinavia and Japan meet in wooden harmony.
Pick between Nordic and Japanese food and enjoy a frankly bonkers list of cocktails that provide theatre as well as merriment.
Art
The advice: Going into the weekend, the government advice around galleries and museums remains unchanged. This means no mixing between households in indoor areas, but most galleries are open as usual. It is strongly advised to book before you go, however, with timed tickets, cashless payments and social distancing mandatory.
Marvel at vast seascapes at Turner’s Modern World at the Tate Britain
Turner’s Modern World at the Tate Britain
The Tate Britain returns with one of the most beloved British painters, JMW Turner. This blockbuster exhibition is an “Imax-sized naval blockbuster”, a collection of masterpieces so vast you could comfortably drown in those exquisitely-crafted waves for an entire afternoon.
Nobody captured the grandeur and turmoil of the industrial revolution quite like Turner, and from our standpoint in 2020, it’s fascinating to get a glimpse of another age in the grip of vast and unknowable changes.
Book tickets here.
A trio of audio “installations” are now live on the Barbican website
Soundhouse: Intimacy and Distance at Barbican
If you want to top up your dose of culture without having to ride public transport, the Barbican has launched a new audio-art project that you can tune into through its website.
Consisting of three “rooms”, Soundhouse: Intimacy and Distance invites artists Ariana Martinez, Axel Kacoutié and Arlie Adlington to curate a “shared listening experience” through which listeners can connect despite the physical distance between them.
The pieces cannot be skipped through and play on a loop, meaning each person is listening to the same thing. Through multi-layered sound, including music and speech, the free virtual exhibition explores ideas from “the political power of personal storytelling to the sculptural qualities of sound”.
Listen in here.
Film
The advice: With major cinema chains either closing or offering screenings at weekends only, there are major disruptions to anything approaching a regular schedule over the weekend, with the silver lining being that you can catch these releases in a few days on various streaming channels.
One of the best documentaries of the year: The Painter and the Thief
The Painter and the Thief
Norwegian documentary filmmaker Benjamin Ree (2016’s Magnus) brings us The Painter and the Thief, an unusual real-life tale of crime and reconciliation.
It follows an artist who strikes up a friendship with the drug addict who stole her paintings. It’s one of the most surprising, heartwarming documentaries of the year – who needs horror movies just because it’s Halloween weekend?
Read our full review here.
Riz Ahmed shines in Mogul Mowgli
Mogul Mowgli
Riz Ahmed lays down his credentials as one of the finest actors of his generation with a bravura performance in Mogul Mowgli. Playing a rapper on the cusp of super-stardom returning to his London roots, it explores what it means to be an ethnic minority trapped between the desire to “fit in” and the need to express your true self, says James Luxford in our review.


cityam--2020-10-30--Hold on tight – the GP3 is fastest production Mini ever

I clamp my legs tight together and cling on .
The bull lurches and spins as a frenzied rodeo stomp blares from the speakers .
After what seems like minutes – probably 20 seconds , in truth – I ’ m unceremoniously hurled to the floor .
“ Ready to go again ?
” grins the cowboy at the controls .
“ Er…maybe later.
” In hindsight , riding a plastic Bucking Bronco at a friend ’ s wedding felt oddly like driving the Mini John Cooper Works GP .
Both are fun in small doses .
Both left me @ @ @ @ @ @ @ only the former chafed my inner thighs .
Meet the fastest production Mini ever .
With a 2.0-litre turbocharged engine and eight-speed automatic gearbox ( more on that shortly ) , it serves up 306hp , 0-62mph in 5.2 seconds and 164mph .
It ’ s also 85kg lighter than a standard Mini JCW .
Three thousand will be made , including 575 cars for the UK – all painted Thunder Grey .
Joining this club costs £33,895 .
Like the mutant spawn of a Mini and Honda Civic Type R , the @ @ @ @ @ @ @ known ) looks outrageously OTT .
Its wheelarch extensions are unlike anything I ’ ve seen on a road car .
Unpainted blades of carbon fibre-reinforced plastic ( CFRP ) , they could be spare parts for a stealth fighter .
The front pair are tattooed with each car ’ s individual number , from 0001 to 3000 ( mine was 0085 ) .
Look closer and you ’ ll spot the GP3 ’ s 10mm lower suspension , 40mm wider track and 18-inch forged alloy wheels .
Nonetheless , the XXL hooped @ @ @ @ @ @ @ in go-faster Chili Red and jutting out either side of the roof , it ’ s part Touring Car , part Wacky Races .
Inside , there ’ s that ‘ 0085 ’ build number again , this time 3D-printed on the dashboard .
Other niceties include big-bolstered seats , a chunky steering wheel with a motorsport centre marker and a fully digital instrument display .
Like the GP Minis of the past , the rear seats are binned to save weight , their place taken by a chassis-stiffening strut brace .
Buyers @ @ @ @ @ @ @ infotainment , but only a few masochists will .
Prod the red engine-start toggle and click the chunky metal paddle ( also 3D-printed ) .
A belligerent growl from the shotgun-style tailpipes is amplified by the echo chamber behind your ears .
With peak torque of 332lb ft from 1,750rpm , the ‘ B48 ’ engine – shared with the BMW M135i – feels gutsy from the get-go .
Mini ’ s press pack talks of ‘ spontaneous power delivery and unbridled forward thrust ’ , which is a long-winded way of saying @ @ @ @ @ @ @ no drive modes : just aim and fire .
Unfortunately , apply the power in anything other than a dead-straight line and the GP3 flares into wild wheelspin and torque steer .
The front tyres seem overwhelmed by the job at hand .
On dry but cold roads , it scampered about like a puppy with a fresh roll of Andrex .
Even Mountune ’ s modified 385hp Golf GTI , which I drove earlier this earlier this year , managed its steering with more decorum .
The result is a paradox : @ @ @ @ @ @ @ grab by the scruff , yet one that rewards a smooth and steady approach .
The gearbox is an issue , too .
I ’ m not about to climb on my soapbox and demand three pedals and a stick ; a quick-fire twin-clutch ’ box would work equally well here .
Sadly , the GP3 makes do with an old-school torque converter automatic – fine for a lazy luxury saloon , but too slow-witted for a hyperactive hot hatch .
It feels like an ill-judged compromise .
I ’ m sure the @ @ @ @ @ @ @ track .
And despite my gripes , it also raises a smile on the road .
If you ’ re a Mini aficionado looking for a weekend toy , there ’ s much to like .
For me , though , it lacks the join-the-dots sense of flow that marks out a great driver ’ s car .
Too often , you feel it ’ s working against you , trying too hard , struggling to keep up .
Like the Bucking Bronco , it was fun while it lasted .
But I @ @ @ @ @ @ @

Hold on tight – the GP3 is fastest production Mini ever
I clamp my legs tight together and cling on. The bull lurches and spins as a frenzied rodeo stomp blares from the speakers. After what seems like minutes – probably 20 seconds, in truth – I’m unceremoniously hurled to the floor. “Ready to go again?” grins the cowboy at the controls. “Er…maybe later.”
In hindsight, riding a plastic Bucking Bronco at a friend’s wedding felt oddly like driving the Mini John Cooper Works GP. Both are fun in small doses. Both left me exhilarated and exhausted. But thankfully, only the former chafed my inner thighs.
Meet the fastest production Mini ever. With a 2.0-litre turbocharged engine and eight-speed automatic gearbox (more on that shortly), it serves up 306hp, 0-62mph in 5.2 seconds and 164mph. It’s also 85kg lighter than a standard Mini JCW.
Three thousand will be made, including 575 cars for the UK – all painted Thunder Grey. Joining this club costs £33,895.
Like the mutant spawn of a Mini and Honda Civic Type R, the GP3 (as it’s informally known) looks outrageously OTT. Its wheelarch extensions are unlike anything I’ve seen on a road car. Unpainted blades of carbon fibre-reinforced plastic (CFRP), they could be spare parts for a stealth fighter. The front pair are tattooed with each car’s individual number, from 0001 to 3000 (mine was 0085).
Look closer and you’ll spot the GP3’s 10mm lower suspension, 40mm wider track and 18-inch forged alloy wheels. Nonetheless, the XXL hooped rear spoiler steals the show. Lined in go-faster Chili Red and jutting out either side of the roof, it’s part Touring Car, part Wacky Races.
Inside, there’s that ‘0085’ build number again, this time 3D-printed on the dashboard. Other niceties include big-bolstered seats, a chunky steering wheel with a motorsport centre marker and a fully digital instrument display.
Like the GP Minis of the past, the rear seats are binned to save weight, their place taken by a chassis-stiffening strut brace. Buyers can also go without air conditioning or infotainment, but only a few masochists will.
Prod the red engine-start toggle and click the chunky metal paddle (also 3D-printed). A belligerent growl from the shotgun-style tailpipes is amplified by the echo chamber behind your ears. With peak torque of 332lb ft from 1,750rpm, the ‘B48’ engine – shared with the BMW M135i – feels gutsy from the get-go. Mini’s press pack talks of ‘spontaneous power delivery and unbridled forward thrust’, which is a long-winded way of saying it’s bonkers-quick. There are no drive modes: just aim and fire.
Unfortunately, apply the power in anything other than a dead-straight line and the GP3 flares into wild wheelspin and torque steer. The front tyres seem overwhelmed by the job at hand. On dry but cold roads, it scampered about like a puppy with a fresh roll of Andrex.
Even Mountune’s modified 385hp Golf GTI, which I drove earlier this earlier this year, managed its steering with more decorum. The result is a paradox: a car you’re inclined to grab by the scruff, yet one that rewards a smooth and steady approach.
The gearbox is an issue, too. I’m not about to climb on my soapbox and demand three pedals and a stick; a quick-fire twin-clutch ’box would work equally well here.
Sadly, the GP3 makes do with an old-school torque converter automatic – fine for a lazy luxury saloon, but too slow-witted for a hyperactive hot hatch. It feels like an ill-judged compromise.
I’m sure the GP3 would be a riot on a track. And despite my gripes, it also raises a smile on the road. If you’re a Mini aficionado looking for a weekend toy, there’s much to like.
For me, though, it lacks the join-the-dots sense of flow that marks out a great driver’s car. Too often, you feel it’s working against you, trying too hard, struggling to keep up. Like the Bucking Bronco, it was fun while it lasted. But I’ll pass on another go.
PRICE: £33,895
0-62MPH: 5.2sec
TOP SPEED: 164mph
CO2 G/KM: 167
MPG COMBINED: 38.7
Tim Pitt writes for Motoring Research


cityam--2020-10-30--EU tells banks to comply with sustainability disclosures despite lack of guidance

The EU has told banks and insurers they must comply with the bloc ’ s new laws on sustainability-related disclosures from March , even though detailed guidance on how the rules work in practice will not be ready in time .
Last year the bloc approved a law designed to increase transparency on how financial institutions consider sustainability risks in their investment decisions and investment advice .
It includes consideration for cutting carbon emissions , social and employee matters , and respect for human rights .
Firms will have to disclose publicly whether they see sustainability risks related to their @ @ @ @ @ @ @ banking , insurance and securities regulators had been aiming to publish guidelines on how the law ’ s principles would be implemented by December .
However in a letter to the regulators published today , the European Commission said the “ unprecedented economic and market stress ” caused by the coronavirus pandemic meant that the deadline for issuing guidance could not be met .
John Berrigan , head of the Commission ’ s financial services division , said that while the delay was “ unfortunate ” , it was “ justified by the @ @ @ @ @ @ @ the process given the current difficult circumstances ” .
While financial lawyers have said it is essential for the bloc to publish guidelines outlining what it means by sustainability risks , Berrigan said the law coming into force was not dependent on the guidance being ready .
“ In order to provide financial market participants and financial advisers adequate time for implementation , the regulatory technical standards will become applicable at a later stage , ” Berrigan said .

EU tells banks to comply with sustainability disclosures despite lack of guidance
The EU has told banks and insurers they must comply with the bloc’s new laws on sustainability-related disclosures from March, even though detailed guidance on how the rules work in practice will not be ready in time.
Last year the bloc approved a law designed to increase transparency on how financial institutions consider sustainability risks in their investment decisions and investment advice.
It includes consideration for cutting carbon emissions, social and employee matters, and respect for human rights. Firms will have to disclose publicly whether they see sustainability risks related to their investment decisions.
The EU’s banking, insurance and securities regulators had been aiming to publish guidelines on how the law’s principles would be implemented by December.
However in a letter to the regulators published today, the European Commission said the
“unprecedented economic and market stress” caused by the coronavirus pandemic meant that the deadline for issuing guidance could not be met.
John Berrigan, head of the Commission’s financial services division, said that while the delay was “unfortunate”, it was “justified by the need to guarantee sufficient stakeholder involvement in the process given the current difficult circumstances”.
While financial lawyers have said it is essential for the bloc to publish guidelines outlining what it means by sustainability risks, Berrigan said the law coming into force was not dependent on the guidance being ready.
“In order to provide financial market participants and financial advisers adequate time for implementation, the regulatory technical standards will become applicable at a later stage,” Berrigan said.


cityam--2020-10-31--The Hollywood of Europe: How the Canary Islands are being reinvented as a film hub

In the opening scenes of action-thriller Jason Bourne , the film ’ s forgetful hero , played by Matt Damon , strides through violent protests on the streets of Athens .
He meets his spy partner in the iconic Syntagma Square , before being chased through a sea of blue and white flags by a menacing CIA hit squad .
But for eagle-eyed viewers , the film ’ s dramatic opening betrays a secret : this is not Athens .
Nor , in fact , is it even Greece .
Damon and his fellow cast members are actually in Tenerife @ @ @ @ @ @ @ .
The islands may seem an unlikely choice as an ersatz Athens , but the producers of the 2016 blockbuster are not alone .
Over recent years the Spanish archipelago has attracted increasing interest from major industry figures , as authorities attempt to transform the sun-soaked holiday destination into a bona fide film hub .
Ever since Spanish dictator General Franco began to open his country up to visitors in the 1960s , the Canary Islands have grown in popularity as a holiday destination .
The islands now attract more than 15m holidaymakers @ @ @ @ @ @ @ whom are Brits — who are lured in by warm temperatures , more than 300 days of sun each year and a short flight time from mainland Europe .
But these qualities also prove enticing to producers on the lookout for locations for films , TV shows and advertising campaigns .
Aside from Jason Bourne , other recent blockbusters to be filmed on the islands include Star Wars spin-off Solo , Fast and Furious 6 and fantasy double bill Clash of the Titans and Wrath of the Titans , starring Rosamund Pike , @ @ @ @ @ @ @ Dupont , chief executive of Lanzarote-based Paraiso Productions , says filmmakers are attracted by both the weather and the landscape , which ranges from beaches and jungles to mountains and deserts .
“ We have a great diversity of locations , you can find absolutely everything in the Canary Islands , ” he says .
Dupont , who has been based in the islands for seven years , adds that both the infrastructure and workforce are in place to help film projects .
“ You can come with just with the idea and @ @ @ @ @ @ @ the materials , ” he says .
Read more : Licence to kill : Will the Bond debacle be fatal for the UK ’ s cinema sector ?
The biggest pull for the film industry , however , is a string of financial incentives offered by the islands ’ film board .
Foreign productions made in the Canary Islands are entitled to a 50 per cent tax rebate on the first €1m they spend , with a 45 per cent deduction thereafter .
Newly-incorporated companies also enjoy a reduced corporate tax rate of @ @ @ @ @ @ @ islands benefit from zero VAT .
The use of tax breaks for the film sector is not uncommon , but the islands ’ offerings exceed the deals available elsewhere in Europe .
The financial pull means that aside from filming , the Canary Islands are also becoming a hotspot for post-production and , in particular , animation .
One of the first companies to set up shop on the islands after the tax breaks were introduced in 2016 was the animation arm of Mondo TV , a Rome-based productions and distribution group .
@ @ @ @ @ @ @ ’ s animation studio in Tenerife , says the tax incentives are “ for sure the best in Europe ” .
Not only do they make the work more affordable than outsourcing to the traditional animation hub of Asia , he says , but the location also means his staff can be working on the same time zone .
Read more : See A Film Out To Help Out : Five ways to save the film industry For the Canarian government , developing the islands ’ reputation as a film hub has been @ @ @ @ @ @ @ The Canary Islands have had a long-term strategy of putting themselves on the map in the film industry , ” says Pamela Rolfe , who covers the Spanish film industry for The Hollywood Reporter .
“ They were very savvy about becoming the place for international buyers to see Spanish films back in the early and mid 2000s , so there ’ s been a policy of attracting international attention for a while.
” The motivation for authorities in the region is two-fold : to reduce the reliance on tourism and to stem @ @ @ @ @ @ @ to find jobs .
Alongside tax breaks , authorities are also focusing on fostering a new generation of talent to work in the islands ’ growing film industry .
Yet the shift has been given even greater urgency since the outbreak of Covid-19 , which has laid bare the area ’ s economic reliance on tourism .
The islands attracted just 13,500 visitors in June , compared to 1.1m in the same month last year .
The pandemic has also devastated the global film industry , with productions forced to shut down as @ @ @ @ @ @ @ the Canary Islands is taking solace in its animation sector , which has proved resilient to coronavirus .
“ Animation got a big boost thanks to Covid as we were maybe one of the only audio-visual products that could continue producing , ” says Martinis .
Mondo TV has had even more work than normal , he says , with the company aiming to double its workforce to 80 next year .
“ The arts are part of the culture here on the island and the government wants to make it a hub @ @ @ @ @ @ @ adding that animation projects have the added benefit of attracting longer-term projects .
Whether booming animation will be sufficient to offset the production slump remains to be seen .
But with huge demand for film and TV production to fuel the intensifying streaming wars , industry bosses on the islands remain optimistic about the sector ’ s future .
“ I think it could be the Hollywood of Europe , ” says Rolfe .
“ All of Spain has been hit because of Covid and the Canaries are no exception , particularly since @ @ @ @ @ @ @ .
But the Canaries have a lot more to offer beyond tourism and the film business is a clear example of that .
”

The Hollywood of Europe: How the Canary Islands are being reinvented as a film hub
The Canary Islands’ sunshine and scenery are proving popular with filmmakers as well as tourists
In the opening scenes of action-thriller Jason Bourne, the film’s forgetful hero, played by Matt Damon, strides through violent protests on the streets of Athens.
He meets his spy partner in the iconic Syntagma Square, before being chased through a sea of blue and white flags by a menacing CIA hit squad.
But for eagle-eyed viewers, the film’s dramatic opening betrays a secret: this is not Athens. Nor, in fact, is it even Greece. Damon and his fellow cast members are actually in Tenerife, the largest of the Canary Islands.
The islands may seem an unlikely choice as an ersatz Athens, but the producers of the 2016 blockbuster are not alone. Over recent years the Spanish archipelago has attracted increasing interest from major industry figures, as authorities attempt to transform the sun-soaked holiday destination into a bona fide film hub.
Sun, sea and sets
Ever since Spanish dictator General Franco began to open his country up to visitors in the 1960s, the Canary Islands have grown in popularity as a holiday destination.
The islands now attract more than 15m holidaymakers each year — roughly a third of whom are Brits — who are lured in by warm temperatures, more than 300 days of sun each year and a short flight time from mainland Europe.
But these qualities also prove enticing to producers on the lookout for locations for films, TV shows and advertising campaigns.
Aside from Jason Bourne, other recent blockbusters to be filmed on the islands include Star Wars spin-off Solo, Fast and Furious 6 and fantasy double bill Clash of the Titans and Wrath of the Titans, starring Rosamund Pike, Ralph Fiennes and Liam Neeson.
Fast and Furious 6 is among the recent blockbusters to be filmed on the islands
Christoph Dupont, chief executive of Lanzarote-based Paraiso Productions, says filmmakers are attracted by both the weather and the landscape, which ranges from beaches and jungles to mountains and deserts.
“We have a great diversity of locations, you can find absolutely everything in the Canary Islands,” he says.
Dupont, who has been based in the islands for seven years, adds that both the infrastructure and workforce are in place to help film projects.
“You can come with just with the idea and the creativity, we have absolutely all the materials,” he says.
Catching a tax break
The biggest pull for the film industry, however, is a string of financial incentives offered by the islands’ film board.
Foreign productions made in the Canary Islands are entitled to a 50 per cent tax rebate on the first €1m they spend, with a 45 per cent deduction thereafter. Newly-incorporated companies also enjoy a reduced corporate tax rate of just four per cent, while the islands benefit from zero VAT.
The use of tax breaks for the film sector is not uncommon, but the islands’ offerings exceed the deals available elsewhere in Europe.
The financial pull means that aside from filming, the Canary Islands are also becoming a hotspot for post-production and, in particular, animation.
One of the first companies to set up shop on the islands after the tax breaks were introduced in 2016 was the animation arm of Mondo TV, a Rome-based productions and distribution group.
Enrico Martinis, who leads the company’s animation studio in Tenerife, says the tax incentives are “for sure the best in Europe”.
Not only do they make the work more affordable than outsourcing to the traditional animation hub of Asia, he says, but the location also means his staff can be working on the same time zone.
The islands’ arid landscapes have provided backdrops to productions including Black Mirror and Solo: A Star Wars Story
Tourist troubles
For the Canarian government, developing the islands’ reputation as a film hub has been a priority in recent years.
“The Canary Islands have had a long-term strategy of putting themselves on the map in the film industry,” says Pamela Rolfe, who covers the Spanish film industry for The Hollywood Reporter.
“They were very savvy about becoming the place for international buyers to see Spanish films back in the early and mid 2000s, so there’s been a policy of attracting international attention for a while.”
The motivation for authorities in the region is two-fold: to reduce the reliance on tourism and to stem the tide of young people moving abroad to find jobs. Alongside tax breaks, authorities are also focusing on fostering a new generation of talent to work in the islands’ growing film industry.
Yet the shift has been given even greater urgency since the outbreak of Covid-19, which has laid bare the area’s economic reliance on tourism. The islands attracted just 13,500 visitors in June, compared to 1.1m in the same month last year.
Allied (2016), starring Brad Pitt and Marion Cotillard, was partly filmed in Gran Canaria
The pandemic has also devastated the global film industry, with productions forced to shut down as a result of the crisis. But the Canary Islands is taking solace in its animation sector, which has proved resilient to coronavirus.
“Animation got a big boost thanks to Covid as we were maybe one of the only audio-visual products that could continue producing,” says Martinis.
Mondo TV has had even more work than normal, he says, with the company aiming to double its workforce to 80 next year.
“The arts are part of the culture here on the island and the government wants to make it a hub for animation,” he says, adding that animation projects have the added benefit of attracting longer-term projects.
Whether booming animation will be sufficient to offset the production slump remains to be seen. But with huge demand for film and TV production to fuel the intensifying streaming wars, industry bosses on the islands remain optimistic about the sector’s future.
“I think it could be the Hollywood of Europe,” says Rolfe. “All of Spain has been hit because of Covid and the Canaries are no exception, particularly since it’s such a tourism-focused economy. But the Canaries have a lot more to offer beyond tourism and the film business is a clear example of that.”


cityam--2020-10-31--National lockdown expected in England from next week

Boris Johnson is reportedly considering a new national lockdown in England from next week after his scientific advisers warned coronavirus was spreading significantly faster than their worst-case scenario .
The Prime Minister is said to have spent Friday meeting with ministers and aides after government scientists warned deaths were tracking well above the “ worst-case scenario ” that suggested 85,000 deaths this winter .
Read more : Covid-19 now spreading faster than worst case scenario , Sage warns Johnson has called a meeting this afternoon where ministers will be briefed by the government ’ s advisers , followed by a @ @ @ @ @ @ @ by the BBC suggest the UK is on course for a much higher death toll than during the first wave unless restrictions are introduced .
Johnson is expected to make an announcement on a lockdown on Monday , under which everything could be forced to close except essential shops , nurseries , schools and universities .
The new measures could be introduced on Wednesday and remain in place until 1 December , according to The Times .
Ministers had previously turned down plans for a two-week “ circuit breaker ” over half-term in @ @ @ @ @ @ @ longer lockdown is now thought to be necessary to “ save Christmas.
” The government ’ s Scientific Advisory Group for Emergencies initially proposed the circuit breaker , which Wales has adopted , in mid-September in an attempt to reduce infection rates .
A senior government source quoted in The Times said no final decision had been made but added : “ The data is really bad .
We ’ re seeing Covid-19 rising all over the country and hospitals are struggling to cope .
There has been a shift in our position.
@ @ @ @ @ @ @ R rate catapults to highest in the country Cases have been surging across Europe , prompting new lockdown restrictions in Belgium , France and Germany .
Wales is currently under a “ firebreak ” lockdown with hospitality and tourism businesses closed , and in Scotland the majority of people will be under Level 3 of a new five-tier system from next week .

Coronavirus: England set for national lockdown, PM says
The government handed multi-million pound contracts to small businesses and made orders for the wrong sort of PPE.
Prime Minister Boris Johnson tonight ordered England back into a national lockdown after the United Kingdom passed the milestone of one million Covid-19 cases and a second wave of infections threatened to overwhelm the health service.
Johnson, at a news conference in Downing Street after news of a lockdown leaked to local media, said that the one-month lockdown across England would kick in after midnight on Thursday morning and last until 2 December.
The UK, which has the biggest official death toll in Europe from COVID-19, is grappling with more than 20,000 new coronavirus cases a day and scientists have warned the “worst case” scenario of 80,000 dead could be exceeded.
Just as in the first lockdown people will only be allowed to leave home for specific reasons such as education, work, exercise, shopping for essentials and medicines or caring for the vulnerable.
Wednesday vote
The measures are to be debated in the Commons this week and put to a vote on Wednesday, before coming into effect hours later.
“We must act now,” Johnson said, flanked by his chief medical officer, Chris Whitty, and his chief scientific adviser, Patrick Vallance. “Unless we act, we could see deaths in this country running at several thousand a day.”
The government also U-turned on the extension of the furlough scheme to ensure workers who are temporarily laid off during a new England-wide lockdown receive 80% of their pay, he said.
Essential shops, schools, and universities will remain open, Johnson said, and while elite sports will continue, amateur sports for adults and children will be asked to stop.
Pubs and restaurants will be shut apart from for takeaways, and outbound international travel will be discouraged except for work. All non-essential retail will close.
The Prime Minister is said to have spent Friday meeting with ministers and aides after government scientists warned deaths were tracking well above the “worst-case scenario” that suggested 85,000 deaths this winter.
Circuit-breaker
Ministers had previously turned down plans for a two-week “circuit breaker” over half-term in favour of local restrictions, but a longer lockdown is now thought to be necessary to “save Christmas.”
The government’s Scientific Advisory Group for Emergencies initially proposed the circuit breaker, which Wales has adopted, in mid-September in an attempt to reduce infection rates.
Labour leader Sir Kier Starmer echoed the calls for a circuit breaker national lockdown, but the Prime Minister said he preferred the regionalised schedule of tiered restrictions.
Cases have been surging across Europe, prompting new lockdown restrictions in Belgium, France and Germany.
Wales is currently under a “firebreak” lockdown with hospitality and tourism businesses closed, and in Scotland the majority of people will be under Level 3 of a new five-tier system from next week.


cityam--2020-10-31--What Nutshell's Mohammad Paknejad has learned from Covid

Who are you and what do you do ?
I am Mohammad Paknejad , director of Nutshell , a modern Iranian Restaurant in Covent Garden .
My wife , Marwa Alkhalaf and I have been operating the restaurant since we opened last July .
Read more : Pantechnicon : The perfect place to avoid Tier 2 restrictions The last six months have changed a lot at Nutshell .
It ’ s our first restaurant , so it ’ s been a steep learning curve to make sure our business survives .
When we reopened after lockdown we had to learn @ @ @ @ @ @ @ operating at half capacity and with fewer staff .
We had to come up with ways to drive in diners .
Our Taste of Nutshell menu is incredible value for the area at £25pp , and we have a Nutshell at Home offering we plan to launch in time for Christmas .
What are your biggest fears going into Christmas and beyond ?
With the Tier 2 restrictions imposed on London hospitality venues , my concern is what comes next .
At mid-September it was the rule of six , and by the @ @ @ @ @ @ @ a 10pm curfew ; neither had any visible effect on the rising number of cases .
I ’ m worried about what the government is going to do in a few weeks ’ time when the numbers are still high .
We are paying rent , utilities and wages with much lower revenue due to the distancing restrictions and now things are only getting worse .
Could your business survive a second lockdown ?
Frankly , I don ’ t know .
The furlough scheme was helpful and our landlord and creditors were @ @ @ @ @ @ @ the burden off our shoulders .
However , with furlough coming to an end , I don ’ t know how we would support our staff .
We would also be forced into a new round of negotiations with our creditors to see how we could stay afloat and pay our debt .
It remains to be seen .
If you were Prime Minister for a day , what would you do ?
It would have made sense to try a “ circuit breaker ” lockdown for a couple of weeks while the @ @ @ @ @ @ @ have had an effect on the infection rate and businesses may have survived it .
Now that ’ s out of the window , of course , so who knows what they will come up with next ?
Do you think things will go back to ‘ normal ’ ?
It will take a long time – longer than the 2008 financial crisis .
This whole affair has changed consumer behaviour and it will take time for everyone to adapt .
If I have learned anything over the last six months , it @ @ @ @ @ @ @ we just have to plan for the worst and hope for the best .
* • To book a table at Nutshell go to nutshelllondon.co.uk , call 020 3409 7926 or visit 30 St Martin ’ s Ln , Charing Cross , WC2N 4ER

What Nutshell’s Mohammad Paknejad has learned from Covid
Who are you and what do you do?
I am Mohammad Paknejad, director of Nutshell, a modern Iranian Restaurant in Covent Garden. My wife, Marwa Alkhalaf and I have been operating the restaurant since we opened last July.
How are things?
The last six months have changed a lot at Nutshell. It’s our first restaurant, so it’s been a steep learning curve to make sure our business survives. When we reopened after lockdown we had to learn how to run an 86 cover restaurant operating at half capacity and with fewer staff.
We had to come up with ways to drive in diners. Our Taste of Nutshell menu is incredible value for the area at £25pp, and we have a Nutshell at Home offering we plan to launch in time for Christmas.
The stylish interior of Nutshell
What are your biggest fears going into Christmas and beyond?
With the Tier 2 restrictions imposed on London hospitality venues, my concern is what comes next. At mid-September it was the rule of six, and by the end of the month there was also a 10pm curfew; neither had any visible effect on the rising number of cases.
I’m worried about what the government is going to do in a few weeks’ time when the numbers are still high. We are paying rent, utilities and wages with much lower revenue due to the distancing restrictions and now things are only getting worse.
Could your business survive a second lockdown?
Frankly, I don’t know. The furlough scheme was helpful and our landlord and creditors were also understanding, which took some of the burden off our shoulders. However, with furlough coming to an end, I don’t know how we would support our staff. We would also be forced into a new round of negotiations with our creditors to see how we could stay afloat and pay our debt. It remains to be seen.
Enjoy a tasting menu for just £25pp at Nutshell
If you were Prime Minister for a day, what would you do?
It would have made sense to try a “circuit breaker” lockdown for a couple of weeks while the furlough was still available. That might have had an effect on the infection rate and businesses may have survived it. Now that’s out of the window, of course, so who knows what they will come up with next?
Do you think things will go back to ‘normal’?
It will take a long time – longer than the 2008 financial crisis. This whole affair has changed consumer behaviour and it will take time for everyone to adapt. If I have learned anything over the last six months, it’s how unpredictable life is – we just have to plan for the worst and hope for the best.
*• To book a table at Nutshell go to nutshelllondon.co.uk, call 020 3409 7926 or visit 30 St Martin’s Ln, Charing Cross, WC2N 4ER


cityam--2020-10-31--Boris Johnson announces month-long lockdown for England

Boris Johnson has today announced a national lockdown for England which will begin from next Thursday and last for a month .
In a Downing Street briefing this evening , Johnson said new restrictions will last until 2 December due to the “ exponential growth ” in hospital admissions and concerns the NHS will be overrun .
Read more : National lockdown expected in England from next week The new restrictions will close all hospitality venues but takeaways and deliveries will be permitted , and essential shops will be able to stay open .
Unlike the first lockdown , courts @ @ @ @ @ @ @ exempt from the measures .
Mixing households will be strictly prohibited other than for childcare purposes .
MPs will vote on the new restrictions before they are introduced at midnight on Thursday .
After four weeks of the tougher measures England will move back to its three-tier system .
As a result of the new restrictions , Johnson has announced the extension of the furlough system for a further month , paying 80 per cent of employees ’ wages .
Chief medical officer Professor Chris Whitty said the prevalence of the disease had @ @ @ @ @ @ @ the last two weeks ” with around 50,000 new cases per day , and a rise in hospital admissions in those over the age of 45 .
“ If we do nothing… the numbers will exceed the peak we saw in the Spring ” , he warned .
He was echoed by the government ’ s chief scientific adviser Sir Patrick Vallance who said there is a “ potential for this to be twice as bad or more than the first wave ” .
It marks a significant shift in the PM ’ @ @ @ @ @ @ @ to introduce a national lockdown , opting instead for a localised tier system .
Two weeks ago he defended his strategy of local restrictions by saying he wanted to avoid the “ misery of a national lockdown.
” On Saturday evening he said the UK had to be “ humble in the face of nature ” and the scientific models suggest deaths could run at several thousand a day .
Read more : Covid-19 now spreading faster than worst case scenario , Sage warns Ministers had previously turned down plans for a two-week @ @ @ @ @ @ @ favour of local restrictions , but a longer lockdown is now thought to be necessary to “ save Christmas.
” The government ’ s Scientific Advisory Group for Emergencies initially proposed the circuit breaker , which Wales has adopted , in mid-September in an attempt to reduce infection rates .
The UK recorded a further 21,915 positive cases and 326 Covid-related deaths , up slightly from the 274 recorded on Friday .
Get the news as it happens by following City A.M. on Twitter .

Lockdown could last beyond 2 December, Michael Gove warns
Michael Gove has said that only an “unprecedented and remarkable” change in the progress of Covid-19 would see the 19 July “Freedom Day” deadline extended.
England’s new lockdown could last for more than a month, Michael Gove confirmed this morning.
Speaking to Sky News, the minister for the Cabinet Office confirmed that the restrictions could be extended beyond 2 December, when they are due to come to an end.
The decision will depend on whether the “R-rate” has been sufficiently reduced over the next month.
“We can definitively say that unless we take action now, the NHS is going to be overwhelmed in ways that none of us could countenance”, he added.
His warning came after Boris Johnson last night announced a national lockdown for England which will begin on Thursday and last for a month.
In a Downing Street briefing, Johnson said new restrictions will last until 2 December due to the “exponential growth” in hospital admissions and concerns the NHS will be overrun.
The new restrictions will close all hospitality venues but takeaways and deliveries will be permitted, and essential shops will be able to stay open. Unlike the first lockdown, courts, schools and universities will also be exempt from the measures.
Mixing households will be strictly prohibited other than for childcare purposes.
MPs will vote on the new restrictions before they are introduced at midnight on Thursday. After four weeks of the tougher measures England will move back to its three-tier system.
As a result of the new restrictions, Johnson has announced the extension of the furlough system for a further month, paying 80 per cent of employees’ wages.
Chief medical officer Professor Chris Whitty said the prevalence of the disease had been “going up extremely rapidly over the last two weeks” with around 50,000 new cases per day, and a rise in hospital admissions in those over the age of 45.
“If we do nothing… the numbers will exceed the peak we saw in the Spring”, he warned.
He was echoed by the government’s chief scientific adviser Sir Patrick Vallance who said there is a “potential for this to be twice as bad or more than the first wave”.
It marks a significant shift in the PM’s coronavirus response, having resisted pressure to introduce a national lockdown, opting instead for a localised tier system.
Two weeks ago he defended his strategy of local restrictions by saying he wanted to avoid the “misery of a national lockdown.”
On Saturday evening he said the UK had to be “humble in the face of nature” and the scientific models suggest deaths could run at several thousand a day.
Ministers had previously turned down plans for a two-week “circuit breaker” over half-term in favour of local restrictions, but a longer lockdown is now thought to be necessary to “save Christmas.”
The government’s Scientific Advisory Group for Emergencies initially proposed the circuit breaker, which Wales has adopted, in mid-September in an attempt to reduce infection rates.
The UK recorded a further 21,915 positive cases and 326 Covid-related deaths, up slightly from the 274 recorded on Friday.
Get the news as it happens by following City A.M. on Twitter.


cityam--2020-10-31--US election: Trumpism won the argument on US economic policy

Donald Trump swept to victory in the 2016 election promising an economic nationalist policy platform that would rejuvenate American industry and restore the country ’ s disenfranchised working class .
Some of this platform included trade protectionism – which he followed through with by starting a trade war with China and by slapping tariffs on EU countries – but much of it centred around large-scale infrastructure plans and high amounts of fiscal spending .
Read more : US election : Donald Trump and Joe Biden head south in crunch final days This plan , not withstanding the ad hoc tarrifs @ @ @ @ @ @ @ in favour of more traditional Republican economic policy .
While his former senior advisor Steve Bannon wanted Trump to invest hundreds of billions of dollars on capital spending and to raise taxes on the rich , he instead went in the other direction .
The President listened to establishment GOP figures and implemented sweeping tax cuts for the top income earners and lowered corporation tax .
He also slashed environmental and labour regulations , with eight federal regulations being cut for every new one added .
However , in any case Trump ’ @ @ @ @ @ @ @ more protectionist bent than previous presidents , with his “ America First ” rhetoric reigning supreme .
His electoral success and the rising influence of the Democrats ’ progressive wing has had a material impact on Joe Biden ’ s policy platform in the 2020 election , with many experts arguing Trumpism has won the economic argument .
Biden ’ s economic plan is based around policies to boost the American manufacturing sector , strengthen Made in America provisions and be more combative toward China .
Dan Alpert , US economic commentator and @ @ @ @ @ @ @ a Biden presidency would in some ways embody Trump ’ s 2016 promises .
“ Biden has gone and adopted much of what we would have hoped Trump would have done in his first term , ” Alpert said .
“ In particular , broad infrastructure initiatives and a more common sense to trade especially those industries that are most impacted by trade with mercantilist countries .
“ Not only is he advocating for infrastructure , but he understands that if we ’ re going to open the cheque book for large scale @ @ @ @ @ @ @ ’ t leak abroad.
” The former Vice President has promised tax credits for companies that invest in plant and equipment in the US , to close loopholes that allow companies to offshore labour , ensure all federal government procurement spending goes to American goods and to create a new “ Made in America ” office in the White House .
This will go alongside a large-scale infrastructure programme and significantly increased domestic research and development spending .
In recent discussions around policy , he has been speaking in trillions of dollars of @ @ @ @ @ @ @ of this will be paid for by raising the top rate of income tax to 39.6 per cent and by raising corporation tax from 21 per cent to 27 per cent .
Research fellow at the Levy Economics Institute of Bard College Marshall Auerback said Biden understands the need to respond to the electoral backlash against globalism that was embodied by Trump ’ s election and Bernie Sanders ’ unexpected rise to stardom .
“ [ Biden ’ s term ] is definitely going to be titled in the direction of economic protectionism @ @ @ @ @ @ @ that battle , ” Auerback said .
“ Biden ’ s very concerned about seeing about being seen as being soft or vulnerable on China and I think also that with Trump it ’ s the usual thing – there ’ s a kernel of truth masked behind a husk of lies or misrepresentations .
“ Too many people adopted the Apple model – they said we ’ ll outsource all the manufacturing to Asia and we ’ ll retain the software at home and that ’ s going to be a perfectly @ @ @ @ @ @ @ Trump train hits Pennsylvania : A day in the key US election swing state “ That ’ s turned out to be nonsense and it ’ s eviscerated the middle class.
” The President , meanwhile , has provided few details about what policies he would implement if re-elected .
He has maintained some of the rhetoric around keeping manufacturing jobs in America , but has not provided any route to this beyond maintaining tariffs on China .
This is a tactic that appears to not have backfired , with figures showing that @ @ @ @ @ @ @ loss in manufacturing jobs after a small rise in 2018 .
Trump has also talked vaguely about implementing more tax cuts .
Florida Senator , and former Florida Governor , Rick Scott is a Trump loyalist and is seen by some as a potential successor for the president at the top of GOP politics .
In an interview with City A.M. , he gave some details about what a Trump economic platform could look like as he called for lower taxes and for people to prioritise buying American goods .
“ I think @ @ @ @ @ @ @ goods from a democracy , ” he said .
“ As people learn more about the atrocities of these countries , especially China , they ’ ll stop buying their goods.
” On tax , Scott said : “ I don ’ t want any tax increases as a matter of fact I want taxes to go down , I want our government to be a government that solves problems so you don ’ t have to pay for things , ” he said .
“ What I would do is constantly reduce @ @ @ @ @ @ @ I would figure out how I could look at how do you drive down taxes.
” It ’ s clear that there are stark differences between Biden ’ s economic approach and Trump ’ s , but what is important to note is the direction of travel .
Read more : Can Boris Johnson forge a special relationship with Joe Biden ?
A squeezed middle class has seen the quality of jobs in the US declining since the 1990s , according to Cornell University ’ s Job Quality Index , and Biden has @ @ @ @ @ @ @ One sizable difference between Trump and Biden is that the Democratic candidate has linked this grassroots economic revival with planning for a carbon-free future .
Biden ’ s capital works spending will invest heavily in renewable energy , with his infrastructure programme also skewed toward projects that are carbon neutral .
Former Bernie Sanders adviser Robert Hockett said Biden ’ s plan was a sign that he had adopted many aspects of Alexandria Ocasio Cortez ’ s controversial Green New Deal .
Hockett , who has been tipped to be a potential appointee @ @ @ @ @ @ @ write the Green New Deal alongside Ocasio Cortez .
Read more : US election : Donald Trump and Joe Biden head south in crunch final days “ All of his ‘ building back better ’ talk which he ’ s been doing – which is a beautiful slogan – is basically the Green New Deal , ” he said .
“ If you look what he ’ s planning on doing , and the constant talk about the need of rescuing the planet and get down to net zero carbon emissions really quickly @ @ @ @ @ @ @ mind for that two trillion of spending is salutary , it ’ s quantified investment instead of buying potato chips – it ’ s not going to be a sugar high .
“ It ’ s very much focused on environmental rescue .
”

US election: Trumpism won the argument on US economic policy
A supporter of US President Donald Trump in a mask and boxing gloves waits for the start of a Make America Great Again campaign rally at the Rochester International Airport, Minnesota
Donald Trump swept to victory in the 2016 election promising an economic nationalist policy platform that would rejuvenate American industry and restore the country’s disenfranchised working class.
Some of this platform included trade protectionism – which he followed through with by starting a trade war with China and by slapping tariffs on EU countries – but much of it centred around large-scale infrastructure plans and high amounts of fiscal spending.
This plan, not withstanding the ad hoc tarrifs, was in many ways quickly spurned in favour of more traditional Republican economic policy.
While his former senior advisor Steve Bannon wanted Trump to invest hundreds of billions of dollars on capital spending and to raise taxes on the rich, he instead went in the other direction.
The President listened to establishment GOP figures and implemented sweeping tax cuts for the top income earners and lowered corporation tax.
He also slashed environmental and labour regulations, with eight federal regulations being cut for every new one added.
However, in any case Trump’s economics have still resembled a far more protectionist bent than previous presidents, with his “America First” rhetoric reigning supreme.
Trump says the wall will be built “very soon” as a chant of “build that wall” goes up pic.twitter.com/1jm9S3RIdB — Stefan Boscia (@Stefan_Boscia) October 26, 2020
His electoral success and the rising influence of the Democrats’ progressive wing has had a material impact on Joe Biden’s policy platform in the 2020 election, with many experts arguing Trumpism has won the economic argument.
Biden’s economic plan is based around policies to boost the American manufacturing sector, strengthen Made in America provisions and be more combative toward China.
Dan Alpert, US economic commentator and investment banker at Westwood Capital, said a Biden presidency would in some ways embody Trump’s 2016 promises.
“Biden has gone and adopted much of what we would have hoped Trump would have done in his first term,” Alpert said.
“In particular, broad infrastructure initiatives and a more common sense to trade especially those industries that are most impacted by trade with mercantilist countries.
“Not only is he advocating for infrastructure, but he understands that if we’re going to open the cheque book for large scale infrastructure spending he understands that spending can’t leak abroad.”
The former Vice President has promised tax credits for companies that invest in plant and equipment in the US, to close loopholes that allow companies to offshore labour, ensure all federal government procurement spending goes to American goods and to create a new “Made in America” office in the White House.
This will go alongside a large-scale infrastructure programme and significantly increased domestic research and development spending.
In recent discussions around policy, he has been speaking in trillions of dollars of spending and not billions.
The bulk of this will be paid for by raising the top rate of income tax to 39.6 per cent and by raising corporation tax from 21 per cent to 27 per cent.
Democratic presidential nominee Joe Biden departs after speaking at Milwaukee Mitchell International Airport on October 30, 2020
Research fellow at the Levy Economics Institute of Bard College Marshall Auerback said Biden understands the need to respond to the electoral backlash against globalism that was embodied by Trump’s election and Bernie Sanders’ unexpected rise to stardom.
“[Biden’s term] is definitely going to be titled in the direction of economic protectionism if he wins – Trump has won that battle,” Auerback said.
“Biden’s very concerned about seeing about being seen as being soft or vulnerable on China and I think also that with Trump it’s the usual thing – there’s a kernel of truth masked behind a husk of lies or misrepresentations.
“Too many people adopted the Apple model – they said we’ll outsource all the manufacturing to Asia and we’ll retain the software at home and that’s going to be a perfectly viable model.
“That’s turned out to be nonsense and it’s eviscerated the middle class.”
The President, meanwhile, has provided few details about what policies he would implement if re-elected.
He has maintained some of the rhetoric around keeping manufacturing jobs in America, but has not provided any route to this beyond maintaining tariffs on China.
This is a tactic that appears to not have backfired, with figures showing that tariffs on steel has led to a loss in manufacturing jobs after a small rise in 2018.
Trump has also talked vaguely about implementing more tax cuts.
Florida Senator, and former Florida Governor, Rick Scott is a Trump loyalist and is seen by some as a potential successor for the president at the top of GOP politics.
In an interview with City A.M., he gave some details about what a Trump economic platform could look like as he called for lower taxes and for people to prioritise buying American goods.
“I think Americans will buy American goods or buy goods from a democracy,” he said.
“As people learn more about the atrocities of these countries, especially China, they’ll stop buying their goods.”
On tax, Scott said: “I don’t want any tax increases as a matter of fact I want taxes to go down, I want our government to be a government that solves problems so you don’t have to pay for things,” he said.
“What I would do is constantly reduce [income tax], every year I would figure out how I could look at how do you drive down taxes.”
It’s clear that there are stark differences between Biden’s economic approach and Trump’s, but what is important to note is the direction of travel.
A squeezed middle class has seen the quality of jobs in the US declining since the 1990s, according to Cornell University’s Job Quality Index, and Biden has understood the need to correct this.
One sizable difference between Trump and Biden is that the Democratic candidate has linked this grassroots economic revival with planning for a carbon-free future.
Biden’s capital works spending will invest heavily in renewable energy, with his infrastructure programme also skewed toward projects that are carbon neutral.
Former Bernie Sanders adviser Robert Hockett said Biden’s plan was a sign that he had adopted many aspects of Alexandria Ocasio Cortez’s controversial Green New Deal.
Hockett, who has been tipped to be a potential appointee somewhere in a Biden government, helped write the Green New Deal alongside Ocasio Cortez.
“All of his ‘building back better’ talk which he’s been doing – which is a beautiful slogan – is basically the Green New Deal,” he said.
“If you look what he’s planning on doing, and the constant talk about the need of rescuing the planet and get down to net zero carbon emissions really quickly, this suggests what he has in mind for that two trillion of spending is salutary, it’s quantified investment instead of buying potato chips – it’s not going to be a sugar high.
“It’s very much focused on environmental rescue.”


cityam--2020-10-31--Sainsbury's mulls sale of banking division

The new Sainsbury ’ s boss is reportedly planning a sale of the supermarket ’ s banking arm as the impact of near-zero interest rates hit .
The supermarket launched the bank in 1997 and now boasts more than 2m customers across a range of products including mortgages , home insurance and credit cards .
But medium-sized banks are facing pressure as interest rates near zero and price competition casts doubt over many of their futures .
Sainsbury ’ s chief executive Simon Roberts , who took over earlier this year , has asked its corporate broker UBS and financial @ @ @ @ @ @ @ s Bank , according to Sky News .
The possibility of negative rates , which the Bank of England has not ruled out , has exacerbated concerns among bank directors according to the broadcaster .
The company is reportedly considering a sale of the banking division to a larger high street lender rather than an outright disposal .
A spokesperson for Sainsbury ’ s said : “ We do not comment on speculation .
We remain focused on delivering against the five year plan we set out at our Capital Markets Day last @ @ @ @ @ @ @ control of the banking arm in 2013 , when it paid £260m to buy a 50 per cent shareholding from joint venture partner Lloyds Banking Group .
The group paused plans to sell its £1.9bn mortgage book to Nationwide following the outbreak of Covid-19 , and said it would not inject further capital into the banking arm .
Sainsbury ’ s hired former RBS executive Jim Brown to run Sainsbury ’ s Bank last year and said it anticipated “ no need for further capital injections after £35m in H1 2019/20 ” .
@ @ @ @ @ @ @ Davis would step down after nearly seven years in the role , but has not yet named a successor .
The news came less than a month after Sainsbury ’ s group chief executive Mike Coupe tendered his resignation .

Sainsbury’s mulls sale of banking division
(Photo by TOLGA AKMEN/AFP via Getty Images)
The new Sainsbury’s boss is reportedly planning a sale of the supermarket’s banking arm as the impact of near-zero interest rates hit.
The supermarket launched the bank in 1997 and now boasts more than 2m customers across a range of products including mortgages, home insurance and credit cards.
But medium-sized banks are facing pressure as interest rates near zero and price competition casts doubt over many of their futures.
Sainsbury’s chief executive Simon Roberts, who took over earlier this year, has asked its corporate broker UBS and financial adviser to explore options for Sainsbury’s Bank, according to Sky News.
The possibility of negative rates, which the Bank of England has not ruled out, has exacerbated concerns among bank directors according to the broadcaster.
The company is reportedly considering a sale of the banking division to a larger high street lender rather than an outright disposal.
A spokesperson for Sainsbury’s said: “We do not comment on speculation. We remain focused on delivering against the five year plan we set out at our Capital Markets Day last September.”
Sainsbury’s took full control of the banking arm in 2013, when it paid £260m to buy a 50 per cent shareholding from joint venture partner Lloyds Banking Group.
The group paused plans to sell its £1.9bn mortgage book to Nationwide following the outbreak of Covid-19, and said it would not inject further capital into the banking arm.
Sainsbury’s hired former RBS executive Jim Brown to run Sainsbury’s Bank last year and said it anticipated “no need for further capital injections after £35m in H1 2019/20”.
In February the bank announced chairman Roger Davis would step down after nearly seven years in the role, but has not yet named a successor.
The news came less than a month after Sainsbury’s group chief executive Mike Coupe tendered his resignation.


cityam--2020-10-31--Coronavirus: England set for national lockdown, PM says

Prime Minister Boris Johnson tonight ordered England back into a national lockdown after the United Kingdom passed the milestone of one million Covid-19 cases and a second wave of infections threatened to overwhelm the health service .
Johnson , at a news conference in Downing Street after news of a lockdown leaked to local media , said that the one-month lockdown across England would kick in after midnight on Thursday morning and last until 2 December .
Read more : London pandemic update : How many Covid-19 infections are there in your local borough ?
The UK , which has @ @ @ @ @ @ @ from COVID-19 , is grappling with more than 20,000 new coronavirus cases a day and scientists have warned the “ worst case ” scenario of 80,000 dead could be exceeded .
Just as in the first lockdown people will only be allowed to leave home for specific reasons such as education , work , exercise , shopping for essentials and medicines or caring for the vulnerable .
The measures are to be debated in the Commons this week and put to a vote on Wednesday , before coming into effect hours later .
@ @ @ @ @ @ @ Johnson said , flanked by his chief medical officer , Chris Whitty , and his chief scientific adviser , Patrick Vallance .
“ Unless we act , we could see deaths in this country running at several thousand a day.
” The government also U-turned on the extension of the furlough scheme to ensure workers who are temporarily laid off during a new England-wide lockdown receive 80 % of their pay , he said .
Read more : Covid-19 now spreading faster than worst case scenario , Sage warns Essential shops , schools @ @ @ @ @ @ @ Johnson said , and while elite sports will continue , amateur sports for adults and children will be asked to stop .
Pubs and restaurants will be shut apart from for takeaways , and outbound international travel will be discouraged except for work .
All non-essential retail will close .
The Prime Minister is said to have spent Friday meeting with ministers and aides after government scientists warned deaths were tracking well above the “ worst-case scenario ” that suggested 85,000 deaths this winter .
Ministers had previously turned down plans for a @ @ @ @ @ @ @ in favour of local restrictions , but a longer lockdown is now thought to be necessary to “ save Christmas.
” The government ’ s Scientific Advisory Group for Emergencies initially proposed the circuit breaker , which Wales has adopted , in mid-September in an attempt to reduce infection rates .
Labour leader Sir Kier Starmer echoed the calls for a circuit breaker national lockdown , but the Prime Minister said he preferred the regionalised schedule of tiered restrictions .
Read more : Coronavirus : London R rate catapults to highest in the @ @ @ @ @ @ @ , prompting new lockdown restrictions in Belgium , France and Germany .
Wales is currently under a “ firebreak ” lockdown with hospitality and tourism businesses closed , and in Scotland the majority of people will be under Level 3 of a new five-tier system from next week .


cityam--2020-11-01--Gousto becomes lastest UK tech 'unicorn' after lockdown surge

Recipe box firm Gousto has become the UK ’ s latest tech “ unicorn ” after raising £25m in a new funding round .
The new investment , which came from existing partners Perwyn and BGF , means that the company is now achieved a valuation of over $ 1bn .
Read more : Recipe box firm Gousto expects to report first annual profit in 2020 It is the fourth tech firm to gain the mantle this year , following Synk , Gymshark and Cazoo .
Gousto , which was founded in 2012 , doubled its monthly meal deliveries from @ @ @ @ @ @ @ Joe Wicks-backed company said that sales in the first half alone had surpassed last year ’ s tally of £83m , the Sunday Times first reported .
Earlier this year it said it was on track for its first ever annual profit this year .
Before the Open newsletter : Start your day with the City View podcast and key market data Chief executive and founder Timo Boldt said : “ Achieving tech unicorn status and joining the ranks of those elite companies that have attained a billion dollar valuation is a proud @ @ @ @ @ @ @ all of our shareholders but we are still only just getting started .
“ The market opportunity ahead of us is vast , as changes in consumer behaviour drive permanent change through the entire grocery market.
” Gousto ’ s recipe boxes contain 55 different meal options at a price of £2.98 per portion .
The firm said that it would use the latest funding to double the size of its workforce to 2,000 over the next two years .
It will triple its capacity to provide its boxes over the same period @

Gousto becomes latest UK tech ‘unicorn’ after lockdown surge
Gousto boss Timo Boldt with celebrity chef and “body coach” Joe Wicks.
Recipe box firm Gousto has become the UK’s latest tech “unicorn” after raising £25m in a new funding round.
The new investment, which came from existing partners Perwyn and BGF, means that the company is now achieved a valuation of over $1bn.
It is the fourth tech firm to gain the mantle this year.
Gousto, which was founded in 2012, doubled its monthly meal deliveries from 2.5m to 5m over lockdown.
The Joe Wicks-backed company said that sales in the first half alone had surpassed last year’s tally of £83m, the Sunday Times first reported.
Earlier this year it said it was on track for its first ever annual profit this year.
Before the Open newsletter: Start your day with the City View podcast and key market data
Chief executive and founder Timo Boldt said: “Achieving tech unicorn status and joining the ranks of those elite companies that have attained a billion dollar valuation is a proud moment for the entire Gousto team and all of our shareholders but we are still only just getting started.
“The market opportunity ahead of us is vast, as changes in consumer behaviour drive permanent change through the entire grocery market.”
Gousto’s recipe boxes contain 55 different meal options at a price of £2.98 per portion.
The firm said that it would use the latest funding to double the size of its workforce to 2,000 over the next two years.
It will triple its capacity to provide its boxes over the same period.