cityam--2020-05-08--Coronavirus: We must future-proof our vital supply chains

UK Government orders for social distancing and the closure of many businesses meant an extra 500 million meals and snacks—30 % of all calories—were being eaten in UK homes every week in late March .
And yet , according to Nielsen , consumers were adding just a single additional item to their average shopping basket on each trip .
So , why did we witness empty shelves ?
The fundamental issue is one of logistics .
The UK ’ s food supply chain is finely calibrated so that even additional items per trip—on a nation-wide scale—threw the equilibrium into chaos @ @ @ @ @ @ @ the challenges of replenishing stocks after millions of people suddenly began eating more at home , and a reminder to us all of our reliance on a food supply chain that is not built for unexpected shocks like COVID-19 .
Read more : City A.M. speaks to Michael Spencer about the pandemic and the economic recovery As a nation we rely heavily on food imports to satisfy our food needs and desires—just half of what we consume is produced in the UK .
COVID-19 not only threatens production of food we import , @ @ @ @ @ @ @ in the UK , meaning we could struggle to harvest the food we have grown here , too .
While it is statistically unlikely that we will face another pandemic in the near future , other shocks will come—whether health emergencies , political crises , or perhaps most inevitably , climate volatility .
Just one extreme weather event affecting a major food production area in the UK or globally could topple over our already stretched food production ecosystem .
So how can we be better prepared for the cascade risk climate presents ?
@ @ @ @ @ @ @ our supply chains Climate-induced changes to food production is an increasing problem globally .
The UK generally enjoys easy access to an extensive range of food .
However , this is built upon an extremely complex , globalised system of production , distribution and retail .
In the UK , we import 42 % of our vegetables and 89 % of our fruit predominately from water stressed countries , for example .
Global climate issues , therefore , have a local impact on our food supply .
As COVID-19 has demonstrated , unexpected @ @ @ @ @ @ @ .
A lack of labour to harvest crops as seasonal workers are unable to travel , and potentially food protectionism with “ breadbasket ” nations cutting exports , are just two ways the pandemic will likely impact the supply chain .
This places it in an even weaker state , diminishing its ( already limited ) resilience to climate events .
More threatening than both the pandemic or a single climate event is the risk of a climate event cascade , in which catastrophic droughts , floods or fires trigger further volatility across @ @ @ @ @ @ @ havoc on international food production .
One of these cascading events is already taking place .
The worst locust crisis in decades is unfolding in east Africa , threatening the food security of 25 million people , and its ability to export to countries like the UK .
The locust crisis illustrates both the interconnectedness of our supply chains and the exponential potential of climate cascade events .
Meanwhile , the risk is growing—particularly when considering food production needs not only to remain stable but rise by 60 % by 2050—due to population @ @ @ @ @ @ @ whose responsibility is it to take action ?
And what actions do we need to take ?
In times of crisis individuals will look to governments and businesses for guidance .
Together the two wield enormous power to affect rapid change .
When it comes to the risk of climate-based food shortages , however , organisations and governments can ’ t afford to be reactive .
By the time a shortage strikes , it will be too late .
Unlike the current pandemic , food shortages caused by climate volatility will be longer @ @ @ @ @ @ @ last months or even years , not the days or weeks it takes to restock a supermarket .
The onus then is on preparation .
By being proactive and forecasting climate risk , national and international organisations and governments can plan for climate shocks to the supply chain .
Advances in technology , greater access to data and scientific models today can yield powerful insights for leaders in business and government to take action and prepare .
As the battle against COVID-19 has shown , rapid and decisive national and international action by @ @ @ @ @ @ @ , but transformative .
A vast array of satellites , sensors and scientists worldwide are collecting and interrogating extensive data on the shifting climate .
Recent advances in artificial intelligence , data engineering , machine learning and Earth Sciences can now translate this context into usable , accurate insight for businesses and governments to understand risks presented to them .
The UK ’ s supermarket shelves have been filling up again in recent days ; demand and our supply has readjusted .
But businesses and governments have to recognise these shocks will come @ @ @ @ @ @ @ weakened food production and supply short-term but climate volatility poses an even greater threat .
Learning from the international response to COVID-19 , embracing the potential of AI and big data to tackle the largest existential crises we face must become a priority for businesses and governments , now .

Coronavirus: We must future-proof our vital supply chains
UK Government orders for social distancing and the closure of many businesses meant an extra 500 million meals and snacks—30% of all calories—were being eaten in UK homes every week in late March. And yet, according to Nielsen, consumers were adding just a single additional item to their average shopping basket on each trip.
So, why did we witness empty shelves? The fundamental issue is one of logistics. The UK’s food supply chain is finely calibrated so that even additional items per trip—on a nation-wide scale—threw the equilibrium into chaos. The empty shelves were caused by the challenges of replenishing stocks after millions of people suddenly began eating more at home, and a reminder to us all of our reliance on a food supply chain that is not built for unexpected shocks like COVID-19.
Read more: City A.M. speaks to Michael Spencer about the pandemic and the economic recovery
As a nation we rely heavily on food imports to satisfy our food needs and desires—just half of what we consume is produced in the UK. COVID-19 not only threatens production of food we import, but a shortfall of 80,000 seasonal workers in the UK, meaning we could struggle to harvest the food we have grown here, too.
While it is statistically unlikely that we will face another pandemic in the near future, other shocks will come—whether health emergencies, political crises, or perhaps most inevitably, climate volatility.
Just one extreme weather event affecting a major food production area in the UK or globally could topple over our already stretched food production ecosystem. So how can we be better prepared for the cascade risk climate presents?
Recognising the risk cascade climate poses to our supply chains
Climate-induced changes to food production is an increasing problem globally. The UK generally enjoys easy access to an extensive range of food. However, this is built upon an extremely complex, globalised system of production, distribution and retail. In the UK, we import 42% of our vegetables and 89% of our fruit predominately from water stressed countries, for example. Global climate issues, therefore, have a local impact on our food supply.
As COVID-19 has demonstrated, unexpected events can throw this system into uncertainty.
A lack of labour to harvest crops as seasonal workers are unable to travel, and potentially food protectionism with “breadbasket” nations cutting exports, are just two ways the pandemic will likely impact the supply chain. This places it in an even weaker state, diminishing its (already limited) resilience to climate events.
More threatening than both the pandemic or a single climate event is the risk of a climate event cascade, in which catastrophic droughts, floods or fires trigger further volatility across vast stretches of the globe, wreaking havoc on international food production.
One of these cascading events is already taking place. The worst locust crisis in decades is unfolding in east Africa, threatening the food security of 25 million people, and its ability to export to countries like the UK. The locust crisis illustrates both the interconnectedness of our supply chains and the exponential potential of climate cascade events. Meanwhile, the risk is growing—particularly when considering food production needs not only to remain stable but rise by 60% by 2050—due to population rises and increasing global wealth.
But whose responsibility is it to take action? And what actions do we need to take?
Taking responsibility for resilience
In times of crisis individuals will look to governments and businesses for guidance. Together the two wield enormous power to affect rapid change.
When it comes to the risk of climate-based food shortages, however, organisations and governments can’t afford to be reactive. By the time a shortage strikes, it will be too late. Unlike the current pandemic, food shortages caused by climate volatility will be longer term. For example, crop cycles last months or even years, not the days or weeks it takes to restock a supermarket.
The onus then is on preparation. By being proactive and forecasting climate risk, national and international organisations and governments can plan for climate shocks to the supply chain.
Increasing foresight and understanding risk
Advances in technology, greater access to data and scientific models today can yield powerful insights for leaders in business and government to take action and prepare. As the battle against COVID-19 has shown, rapid and decisive national and international action by businesses and governments is not only possible, but transformative.
A vast array of satellites, sensors and scientists worldwide are collecting and interrogating extensive data on the shifting climate. Recent advances in artificial intelligence, data engineering, machine learning and Earth Sciences can now translate this context into usable, accurate insight for businesses and governments to understand risks presented to them.
The UK’s supermarket shelves have been filling up again in recent days; demand and our supply has readjusted. But businesses and governments have to recognise these shocks will come again, and soon.
COVID-19 has weakened food production and supply short-term but climate volatility poses an even greater threat. Learning from the international response to COVID-19, embracing the potential of AI and big data to tackle the largest existential crises we face must become a priority for businesses and governments, now.


cityam--2020-05-08--Adverts in adversity: Johnny Hornby on the case for advertising through Covid-19

There ’ s no doubt the advertising industry has taken a battering in recent weeks , with the coronavirus crisis sparking the biggest fall in ad spend on record .
In fact , with TV production on hold , it seems brands may have to turn to Zoom to keep their campaigns going .
The downturn comes as little surprise .
Marketing budgets are often the first to be cut during an economic downturn , and unruffled industry figures have lined up to express their hopes of a rapid recovery .
But Johnny Hornby , founder , chief executive and @ @ @ @ @ @ @ further .
For him , the Covid-19 crisis could be a chance for businesses to buy customer attention at a fraction of the normal price — and boost their brand in the process .
The dangers of going dark As companies across the UK — and around the world — pull the shutters down on discretionary spend during the pandemic , advertising is usually one of the first victims .
But while putting campaigns on hold may shore up cash in the short term , Hornby argues that the longer term impact can @ @ @ @ @ @ @ of the dotcom bubble in 2000 , when businesses that cut their marketing spend completely took five years to return to sales levels of those that sustained spend .
Similarly , in 2008 , brands that were strong going into the recession and stayed strong during it , recovered nine times faster than competitors in the years that followed .
Then there ’ s Kellogg ’ s — the poster child for battling through a crisis .
During the Great Depression the cereal maker doubled its ad budget and defied the wider downturn @ @ @ @ @ @ @ Of course , some firms have been so badly hit by the pandemic that advertising is out of the question , and Hornby acknowledges that some , such as airlines and travel businesses , may be forced to “ go dark ” as they battle to stay afloat .
But for others , disappearing from the public eye for the duration of the crisis could do more harm than good .
For those companies that stick their necks above the parapet , there are bargains to be had , as the lack of @ @ @ @ @ @ @ says a primetime TV spot — such as during Britain ’ s Got Talent on a Saturday night — is now selling at a discount of roughly 40 per cent on the normal market rate .
This is even while media consumption has surged .
TV viewing has risen 24 per cent since lockdown began , according to industry body Thinkbox .
Radio listening and visits to news websites are also through the roof , while social media firms have reported increased usage as people are stuck at home .
“ The opportunity @ @ @ @ @ @ @ having spent the last decade bemoaning the fact that you can never get anybody ’ s attention because everybody ’ s so busy — is huge , ” says Hornby .
“ You can get lots of people ’ s attention .
In fact , they ’ re desperate for things to look at , consume , and listen to — whether those things are profound or not.
” Crucially , this also includes 16-34 year-olds — a demographic that is notoriously hard to reach for advertisers .
Moreover , if competitors are @ @ @ @ @ @ @ that do invest in ads will have an outsized share of voice .
“ If you miss out on spending , now you ’ re missing out on incredibly good value to speak to people when their attention is high , ” Hornby says .
“ I think you ’ re also talking to people in a really acute moment where — if you get it right — people will remember you better than they might have done in normal times.
” For those companies that opt to advertise during the crisis , @ @ @ @ @ @ @ to strike the right tone , both on existing and upcoming campaigns .
Hornby cites the example of a campaign his agency launched for the Wall Street Journal urging people to “ read yourself better ” — an innocuous line that took on an inappropriate tone due to the pandemic .
Freshly-launched adverts also run the risk of exposing brands to criticism for making light of the crisis or , worse , profiteering from it .
McDonald ’ s was last month forced to remove a campaign in Brazil in which it separated @ @ @ @ @ @ @ The ad , designed to reflect social distancing , was lambasted on social media by users who pointed out the failings in the fast food chain ’ s own sick pay policy .
However , if done right , the crisis does offer the opportunity to do something either “ heroic ” or “ helpful ” , says Hornby .
On the heroic end are brands such as luxury retailers LVMH and Burberry , which have turned over their factories to manufacture key safety equipment such as hand sanitiser and gowns .
A @ @ @ @ @ @ @ resources to producing ventilators .
But even businesses without these facilities can be helpful , says Hornby .
British Gas — one of The & Partnership ’ s clients — has started producing “ how to ” videos for customers amid a huge surge in demand .
Persil is publishing daily activity guides on its websites to help parents keep their children entertained during school closures .
Even where this isn ’ t possible , providing entertainment and escapism through sponsorship deals is also valid , Hornby says .
“ Clearly being generous @ @ @ @ @ @ @ is the first port of call .
I think it ’ s just about thinking hard about your brand and what role it can play.
” Much has been said about how the Covid-19 crisis will affect how companies operate in the future , especially when it comes to digital transformation .
As live events have been cancelled and social media has picked up the slack , brands have been forced to ramp up their digital strategies .
A rush to capture consumer attention on channels such as Instagram Live and Tiktok during @ @ @ @ @ @ @ from traditional media has picked up pace , Hornby says .
Moreover , he argues companies that do not jump on the trend will be left behind once the pandemic has passed .
“ I think there will be more and more content marketing in more and more digital environments , ” he says .
“ That ’ s why I think it ’ s so important that brands don ’ t go dark because I think if you ’ re not experimenting with these new channels , when you come out you @ @ @ @ @ @ @ where consumers have gone.
” In fact , taking a long-term outlook is central to Hornby ’ s argument for maintaining advertising throughout the pandemic .
As consumer habits change during lockdown — whether it ’ s an increased reliance on technology or renewed interest in environmental concerns — brands can lay the groundwork today to win over customers once the crisis has passed .
“ This isn ’ t about sales today ; it ’ s about sales tomorrow , ” he says .

Adverts in adversity: Johnny Hornby on the case for advertising through Covid-19
There’s no doubt the advertising industry has taken a battering in recent weeks, with the coronavirus crisis sparking the biggest fall in ad spend on record.
In fact, with TV production on hold, it seems brands may have to turn to Zoom to keep their campaigns going.
The downturn comes as little surprise. Marketing budgets are often the first to be cut during an economic downturn, and unruffled industry figures have lined up to express their hopes of a rapid recovery.
But Johnny Hornby, founder, chief executive and chairman of The&Partnership, goes further. For him, the Covid-19 crisis could be a chance for businesses to buy customer attention at a fraction of the normal price — and boost their brand in the process.
The dangers of going dark
As companies across the UK — and around the world — pull the shutters down on discretionary spend during the pandemic, advertising is usually one of the first victims. But while putting campaigns on hold may shore up cash in the short term, Hornby argues that the longer term impact can be damaging.
He cites the bursting of the dotcom bubble in 2000, when businesses that cut their marketing spend completely took five years to return to sales levels of those that sustained spend.
Similarly, in 2008, brands that were strong going into the recession and stayed strong during it, recovered nine times faster than competitors in the years that followed.
Then there’s Kellogg’s — the poster child for battling through a crisis. During the Great Depression the cereal maker doubled its ad budget and defied the wider downturn, emerging as the market leader.
Of course, some firms have been so badly hit by the pandemic that advertising is out of the question, and Hornby acknowledges that some, such as airlines and travel businesses, may be forced to “go dark” as they battle to stay afloat.
But for others, disappearing from the public eye for the duration of the crisis could do more harm than good.
Bargain hunters
For those companies that stick their necks above the parapet, there are bargains to be had, as the lack of demand has driven down prices.
Hornby says a primetime TV spot — such as during Britain’s Got Talent on a Saturday night — is now selling at a discount of roughly 40 per cent on the normal market rate.
This is even while media consumption has surged. TV viewing has risen 24 per cent since lockdown began, according to industry body Thinkbox. Radio listening and visits to news websites are also through the roof, while social media firms have reported increased usage as people are stuck at home.
Ad slots on hit shows such as Britain’s Got Talent are going at cut-price rates (Image: ITV)
“The opportunity for brands to talk to people — having spent the last decade bemoaning the fact that you can never get anybody’s attention because everybody’s so busy — is huge,” says Hornby.
“You can get lots of people’s attention. In fact, they’re desperate for things to look at, consume, and listen to — whether those things are profound or not.”
Crucially, this also includes 16-34 year-olds — a demographic that is notoriously hard to reach for advertisers.
Moreover, if competitors are pulling back on spend, those businesses that do invest in ads will have an outsized share of voice.
“If you miss out on spending, now you’re missing out on incredibly good value to speak to people when their attention is high,” Hornby says.
“I think you’re also talking to people in a really acute moment where — if you get it right — people will remember you better than they might have done in normal times.”
Striking the right tone
For those companies that opt to advertise during the crisis, there is the added conundrum of how to strike the right tone, both on existing and upcoming campaigns.
Hornby cites the example of a campaign his agency launched for the Wall Street Journal urging people to “read yourself better” — an innocuous line that took on an inappropriate tone due to the pandemic.
Freshly-launched adverts also run the risk of exposing brands to criticism for making light of the crisis or, worse, profiteering from it.
McDonald’s was last month forced to remove a campaign in Brazil in which it separated the golden arches in its logo. The ad, designed to reflect social distancing, was lambasted on social media by users who pointed out the failings in the fast food chain’s own sick pay policy.
However, if done right, the crisis does offer the opportunity to do something either “heroic” or “helpful”, says Hornby.
On the heroic end are brands such as luxury retailers LVMH and Burberry, which have turned over their factories to manufacture key safety equipment such as hand sanitiser and gowns. A host of car makers have also committed resources to producing ventilators.
Luxury brands such as Burberry and LVMH have been “heroic” during the crisis, says Hornby
But even businesses without these facilities can be helpful, says Hornby. British Gas — one of The&Partnership’s clients — has started producing “how to” videos for customers amid a huge surge in demand. Persil is publishing daily activity guides on its websites to help parents keep their children entertained during school closures.
Even where this isn’t possible, providing entertainment and escapism through sponsorship deals is also valid, Hornby says.
“Clearly being generous, being authentic, being genuinely helpful is the first port of call. I think it’s just about thinking hard about your brand and what role it can play.”
Driving the digital shift
Much has been said about how the Covid-19 crisis will affect how companies operate in the future, especially when it comes to digital transformation.
As live events have been cancelled and social media has picked up the slack, brands have been forced to ramp up their digital strategies.
A rush to capture consumer attention on channels such as Instagram Live and Tiktok during the crisis means the existing shift away from traditional media has picked up pace, Hornby says.
Moreover, he argues companies that do not jump on the trend will be left behind once the pandemic has passed.
“I think there will be more and more content marketing in more and more digital environments,” he says.
“That’s why I think it’s so important that brands don’t go dark because I think if you’re not experimenting with these new channels, when you come out you’ll have missed a trick on where consumers have gone.”
In fact, taking a long-term outlook is central to Hornby’s argument for maintaining advertising throughout the pandemic.
As consumer habits change during lockdown — whether it’s an increased reliance on technology or renewed interest in environmental concerns — brands can lay the groundwork today to win over customers once the crisis has passed.
“This isn’t about sales today; it’s about sales tomorrow,” he says.


cityam--2020-05-08--Coronavirus: Job hunting amid a pandemic

A common experience of the COVID-19 pandemic is the tantalising glimpses of people ’ s personal space .
Colleagues , politicians and television presenters are all – typically for the first time – speaking to us from their homes .
It is a daily reminder of what a topsy turvy time this is .
This is especially true of those who were either planning a career move or who are currently between roles .
For these people , a shift in approach is needed for the new economic environment .
My executive search business speaks with leaders of large and @ @ @ @ @ @ @ regular basis about their response to the crisis and what it means for their hiring needs .
So what have we learnt ?
Read more : City A.M. launches The City View podcast Accept that everything is going slower Whilst government policy has never changed more frequently or more quickly , businesses are taking longer to make decisions .
This is in large part because the scale of the challenge changes by the day ( often at the 5pm daily government briefing ) makes certainty a scarce commodity .
It is also true @ @ @ @ @ @ @ vital channel for communication , conversations take longer than in-person exchanges would as we decode the disembodied faces in front of us without the face-to-face cues of real eye contact , body language and nuances .
Decision making reflects this .
Where you were hoping for news or a decision , do not push too hard for it – enthusiasm can easily tip over into irritation ; allow space and time and give yourself some slack .
Almost all of us have been given this back ; do something you were too busy @ @ @ @ @ @ @ have rocketed during lockdown , a more professionally constructive use of time might be to volunteer either on a temporary basis or to contact organisations ( schools , charities or community centres ) for longer term support .
Not only will these be good things to do – they could give future job applications an added dimension .
Be aware of your social media usage In this remote age , recruiters and would-be employers will rely more than ever on professional platforms such as LinkedIn and job sites .
Make sure you have @ @ @ @ @ @ @ these .
Pictures should be business-appropriate and so probably not include your pet , a loved one , your wedding day , your hobbies , pulling a face or be a cropped section of a photo of you on a night out .
Experience should be clearly laid out in bullet points which make it accessible to anyone interested .
Make sure it is grammatically correct .
Many profiles still have experience that finished five years ago written in the present tense and even more profiles proudly declare “ …20 years experience… ” @ @ @ @ @ @ @ quality of the 20 years ’ experience… Have a fresh look at your CV If your CV is longer than two pages then please consider trimming it down .
Too often , CVs are built in compound fashion – simply adding a new experience to what went before – and the result of this is that experience at the start of your career is given disproportionate space .
Give the most detail to the experience most likely to qualify you for your next role – not the work experience you did after university @ @ @ @ @ @ @ too much editing by the writer .
Ask a friend to have a read through with fresh eyes to ensure it makes sense and to avoid any glaring errors – since lockdown I have had messages which have included assurances of a “ career in pubic relations ” and a note of thanks for my “ tiresome support ” from a client .
Maybe the latter was trying to tell me something .
Take opportunities when they come This is a hirer ’ s market and decisions to make an offer have been @ @ @ @ @ @ @ If you are the recipient of an offer , you should take it – it is very likely to be the real deal .
This presumes you applied for good reason ( even if that was in a pre-pandemic world ) and you are not now persuaded to remain where you are .
We are all learning on the fly and it is far from perfect .
Everyone is sleeping in the office and none of us has had a professional haircut in several weeks !
These are not normal times and you @ @ @ @ @ @ @ the normal way .

Coronavirus: Job hunting amid a pandemic
A common experience of the COVID-19 pandemic is the tantalising glimpses of people’s personal space. Colleagues, politicians and television presenters are all – typically for the first time – speaking to us from their homes.
It is a daily reminder of what a topsy turvy time this is. This is especially true of those who were either planning a career move or who are currently between roles. For these people, a shift in approach is needed for the new economic environment. My executive search business speaks with leaders of large and medium sized businesses and NGOs on a regular basis about their response to the crisis and what it means for their hiring needs. So what have we learnt?
Read more: City A.M. launches The City View podcast
Accept that everything is going slower
Whilst government policy has never changed more frequently or more quickly, businesses are taking longer to make decisions. This is in large part because the scale of the challenge changes by the day (often at the 5pm daily government briefing) makes certainty a scarce commodity. It is also true that whilst Video Conferencing has been a vital channel for communication, conversations take longer than in-person exchanges would as we decode the disembodied faces in front of us without the face-to-face cues of real eye contact, body language and nuances. Decision making reflects this. Where you were hoping for news or a decision, do not push too hard for it – enthusiasm can easily tip over into irritation; allow space and time and give yourself some slack.
Use your commuting time
Almost all of us have been given this back; do something you were too busy to do pre-pandemic. Whilst Netflix subscriptions have rocketed during lockdown, a more professionally constructive use of time might be to volunteer either on a temporary basis or to contact organisations (schools, charities or community centres) for longer term support. Not only will these be good things to do – they could give future job applications an added dimension.
Be aware of your social media usage
In this remote age, recruiters and would-be employers will rely more than ever on professional platforms such as LinkedIn and job sites. Make sure you have a clear and professionally suitable profile for these. Pictures should be business-appropriate and so probably not include your pet, a loved one, your wedding day, your hobbies, pulling a face or be a cropped section of a photo of you on a night out. Experience should be clearly laid out in bullet points which make it accessible to anyone interested. Make sure it is grammatically correct. Many profiles still have experience that finished five years ago written in the present tense and even more profiles proudly declare “…20 years experience…” with no apostrophe… which somewhat undermines the quality of the 20 years’ experience…
Have a fresh look at your CV
If your CV is longer than two pages then please consider trimming it down. Too often, CVs are built in compound fashion – simply adding a new experience to what went before – and the result of this is that experience at the start of your career is given disproportionate space. Give the most detail to the experience most likely to qualify you for your next role – not the work experience you did after university. These documents can easily suffer from too much editing by the writer. Ask a friend to have a read through with fresh eyes to ensure it makes sense and to avoid any glaring errors – since lockdown I have had messages which have included assurances of a “career in pubic relations” and a note of thanks for my “tiresome support” from a client. Maybe the latter was trying to tell me something.
Take opportunities when they come
This is a hirer’s market and decisions to make an offer have been subjected to internal pressure and scrutiny. If you are the recipient of an offer, you should take it – it is very likely to be the real deal. This presumes you applied for good reason (even if that was in a pre-pandemic world) and you are not now persuaded to remain where you are.
We are all learning on the fly and it is far from perfect. Everyone is sleeping in the office and none of us has had a professional haircut in several weeks! These are not normal times and you should not approach the jobs market in the normal way.


cityam--2020-05-08--The City View podcast, from City A.M., with Stephen Jones - CEO of UK Finance

Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
In this episode , Christian is joined by Stephen Jones , CEO of banking industry group UK Finance , which is at the heart of the Coronavirus Business Interruption Loan Scheme ( CBILS ) .
In a wide-ranging and candid conversation , Stephen talks about how the CBILS came into being ; the problems it faced in its first few weeks ; the difficulties still dogging the application process ; and the wider measures put in place by lenders @ @ @ @ @ @ @ his concerns about the difficulties that will come to the fore once government support mechanisms , such as the job retention scheme , start to be withdrawn .
Also in this episode , Christian looks at the latest grim forecast from the Bank of England ; Sir Martin Sorrell ’ s assessment of the business landscape ; and the possible O2-Virgin mega-merger .
Read more : The City View podcast , from City A.M. , with Andy Clarke , former CEO of Asda Read more : The City View podcast , from City @ @ @ @ @ @ @ Eamonn Butler Read more : The City View podcast , from City A.M. , with Michael Spencer Read more : The City View podcast , from City A.M. , with Priya Lakhani OBE Read more : The City View podcast , from City A.M. , with Vivienne Artz Read more : The City View podcast , from City A.M. , with Hetan Shah , chief executive of the British Academy Read more : The City View podcast , from City A.M. , with Martin Gilbert Read more : The City View podcast from @ @ @ @ @ @ @ Read more : The City View podcast , from City A.M. , with Miles Celic Read more : The City View podcast from City A.M. , with Dr Gerard Lyons Read more : The City View podcast from City A.M. , with David Buik Read more : The City View , from City A.M. , with Robert Colvile Read more : The City View from City A.M. with Dame Helena Morrissey Read more : The City View from City A.M. , with Jimmy McLoughlin ETX Capital is one of the UK ’ s @ @ @ @ @ @ @ , offering services to retail , institutional , professional and high net worth customers via an award-winning trading platform .
With over 50 years of experience in the financial markets , customers and service are always put first at ETX , and the company prides itself in offering a tailor-made trading experience to every customer .
The multi-device TraderPro platform delivers a fully customisable , award-winning trading technology with customisable charts , instant execution and over 5,000 markets to trade .
Disclaimer : Spread bets and CFDs are complex instruments and come with @ @ @ @ @ @ @ due to leverage .
76 % of retail investor accounts lose money when spread betting or trading CFDs with ETX .
You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money .
Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721 .
ETX Capital provides an execution-only service and therefore any market analysis , opinion , commentary or other information provided during this webinar is for educational purposes only and is not @ @ @ @ @ @ @ construed as advice .
ETX Capital and the presenter are not financial or investment advisors and do not recommend any instrument of any kind .
Any instruments that are mentioned throughout are cited only for illustrative and educational purposes .

The City View podcast, from City A.M., with Stephen Jones – CEO of UK Finance
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
In this episode, Christian is joined by Stephen Jones, CEO of banking industry group UK Finance, which is at the heart of the Coronavirus Business Interruption Loan Scheme (CBILS).
Subscribe to The City View Podcast: Apple / Google / Spotify / RSS
In a wide-ranging and candid conversation, Stephen talks about how the CBILS came into being; the problems it faced in its first few weeks; the difficulties still dogging the application process; and the wider measures put in place by lenders to support businesses.
Stephen also shares his concerns about the difficulties that will come to the fore once government support mechanisms, such as the job retention scheme, start to be withdrawn.
Also in this episode, Christian looks at the latest grim forecast from the Bank of England; Sir Martin Sorrell’s assessment of the business landscape; and the possible O2-Virgin mega-merger.
In association with ETX Capital
ETX Capital is one of the UK’s leading spread betting and CFD trading providers, offering services to retail, institutional, professional and high net worth customers via an award-winning trading platform. With over 50 years of experience in the financial markets, customers and service are always put first at ETX, and the company prides itself in offering a tailor-made trading experience to every customer. The multi-device TraderPro platform delivers a fully customisable, award-winning trading technology with customisable charts, instant execution and over 5,000 markets to trade.
Disclaimer: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting or trading CFDs with ETX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money. Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721. ETX Capital provides an execution-only service and therefore any market analysis, opinion, commentary or other information provided during this webinar is for educational purposes only and is not intended to be a personal recommendation or construed as advice. ETX Capital and the presenter are not financial or investment advisors and do not recommend any instrument of any kind. Any instruments that are mentioned throughout are cited only for illustrative and educational purposes.


cityam--2020-05-08--Extend job retention scheme to stop unemployment spike, says think tank

The UK ’ s coronavirus job retention scheme must be extended for three months in order to prevent joblessness from spiking , an employment think tank has said .
Under the job retention scheme ( JRS ) the government pays 80 per cent of “ furloughed ” workers ’ wages , up to a limit of £2,500 a month .
Read more : Rishi Sunak : No ‘ cliff edge ’ to job retention scheme In a report out today , UK think tank the Learning and Work Institute ( LWI ) said it had been very successful in limiting @ @ @ @ @ @ @ 6m people are now furloughed via the JRS .
However , the LWI said that the scheme needs to be extended past the current June date for at least another three months .
Chancellor Rishi Sunak on Tuesday signalled that this is a possibility .
He said that “ there will be no cliff edge ” to the government ’ s job retention scheme .
The LWI ’ s report came after the Bank of England on Thursday said the UK economy is likely to crash by 14 per cent this year .
@ @ @ @ @ @ @ sharp rebound , however , with growth of 15 per cent in 2021 .
The Bank ’ s predictions were based on an easing of coronavirus support measures from June .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
The Learning and Work Institute said that although some coronavirus lockdown measures may soon be eased , social distancing is likely to remain in place .
This will damage businesses , the think tank said .
“ In this context , @ @ @ @ @ @ @ to a ‘ second wave ’ of unemployment if support is withdrawn rapidly , ” the think tank said .
The LWI ’ s report called on the government to make a number of proposals that it called on chancellor Rishi Sunak to adopt .
They included : • Extending the job retention scheme until the end of September • Reforming the JRS to allow for ‘ short-time working ’ so employers can phase staff back in • Working with businesses and unions on a gradual withdrawal of the JRS from September on @ @ @ @ @ @ @ September conditional on commitments to minimum standards on pay and job quality or on the state taking an equity share in order to recoup some of the cost .
Short-time working is used in Germany , where the government subsidises wages for workers that are not needed for their usual hours .
The JRS is extremely costly at roughly £14bn a month .
Some have argued it can not continue much longer , but the LWI said its economic effects are worth the high price .
LWI chief executive Stephen Evans said : @ @ @ @ @ @ @ indefinitely , a sudden withdrawal in support risks leading to a second wave of unemployment.
” Read more : Furlough : When will the job retention scheme end and will it be extended ?
“ The post-crisis economy will be very different , and we need to recognise that hundreds of thousands of furloughed workers may never be able to return to their jobs , ” he added .
“ We need to be ready to support these workers through investment in skills , a jobs guarantee and a more generous safety net @ @

Extend job retention scheme to stop unemployment spike, says think tank
Huge numbers of businesses have closed during the coronavirus pandemic, with many workers support by the government’s job retention scheme
The UK’s coronavirus job retention scheme must be extended for three months in order to prevent joblessness from spiking, an employment think tank has said.
Under the job retention scheme (JRS) the government pays 80 per cent of “furloughed” workers’ wages, up to a limit of £2,500 a month.
In a report out today, UK think tank the Learning and Work Institute (LWI) said it had been very successful in limiting job losses. Reports estimate that around 6m people are now furloughed via the JRS.
However, the LWI said that the scheme needs to be extended past the current June date for at least another three months.
Chancellor Rishi Sunak on Tuesday signalled that this is a possibility. He said that “there will be no cliff edge” to the government’s job retention scheme.
The LWI’s report came after the Bank of England on Thursday said the UK economy is likely to crash by 14 per cent this year.
The Bank said there will be a sharp rebound, however, with growth of 15 per cent in 2021. The Bank’s predictions were based on an easing of coronavirus support measures from June.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
The Learning and Work Institute said that although some coronavirus lockdown measures may soon be eased, social distancing is likely to remain in place. This will damage businesses, the think tank said.
“In this context, a rapid withdrawal of support risks leading to a ‘second wave’ of unemployment if support is withdrawn rapidly,” the think tank said.
Government should adopt ‘short-time working’
The LWI’s report called on the government to make a number of proposals that it called on chancellor Rishi Sunak to adopt. They included:
Extending the job retention scheme until the end of September
Reforming the JRS to allow for ‘short-time working’ so employers can phase staff back in
Working with businesses and unions on a gradual withdrawal of the JRS from September on a sector-by-sector basis
Making support beyond September conditional on commitments to minimum standards on pay and job quality or on the state taking an equity share in order to recoup some of the cost.
Short-time working is used in Germany, where the government subsidises wages for workers that are not needed for their usual hours.
The JRS is extremely costly at roughly £14bn a month. Some have argued it cannot continue much longer, but the LWI said its economic effects are worth the high price.
LWI chief executive Stephen Evans said: “While it can’t continue indefinitely, a sudden withdrawal in support risks leading to a second wave of unemployment.”
“The post-crisis economy will be very different, and we need to recognise that hundreds of thousands of furloughed workers may never be able to return to their jobs,” he added.
“We need to be ready to support these workers through investment in skills, a jobs guarantee and a more generous safety net.”


cityam--2020-05-08--UK coronavirus death toll rises by 626 to 31,241 ahead of lockdown easing

The UK government has announced that 626 more people have died from coronavirus since yesterday , taking the total death toll to 31,241 .
Environment secretary George Eustice said that 4,649 more people had tested positive for Covid-19 since yesterday .
That took the total to 211,364 .
Read more : Exit strategy : How and when Boris Johnson will end the UK lockdown Eustice said that 97,000 people were tested yesterday .
That is short of the government ’ s 100,000 daily target which it has missed for the last six days .
Prime Minister Boris Johnson will on @ @ @ @ @ @ @ of Britain ’ s exit from the coronavirus lockdown .
However , the government has been criticised for poor messaging over the PM ’ s announcement .
Fears have been raised that the public will preempt the PM and surge into public areas over this bank holiday weekend .
Eustice today said : “ The Prime Minister will outline any changes to the guidance on Sunday .
But in the meantime , in spite of the sunny bank holiday , it is vitally important that we continue to abide by the current restrictions.
@ @ @ @ @ @ @ to be any dramatic overnight change , ” Eustice said .
He said Britain is not “ out of the woods ” and needs to avoid a second peak of infections that could “ overwhelm our NHS ” .
Britain ’ s death toll of 31,241 is the highest in Europe .
Just under 30,000 people have died in Italy , and Spain and France have both suffered 26,000 deaths .
However , it is difficult to make useful international comparisons as countries have different sized populations and methods of recording deaths .
@ @ @ @ @ @ @ but has itself made them .
On Wednesday , Labour leader Keir Starmer challenged the Prime Minister on the death toll , asking “ how on earth ” it had “ come to this ” .
Johnson is set to announce some easing of the coronavirus lockdown on Sunday .
Many Conservative backbenchers have called on the government to “ reopen ” the economy so as to boost growth .
Read more : Sajid Javid : UK should run the economy ‘ hot ’ and support lenders Former chancellor Sajid Javid today said @ @ @ @ @ @ @ “ running the economy quite hot ” .
However , Eustice today said any changes “ will be done with the utmost of caution ” .

UK coronavirus death toll rises by 626 to 31,241 ahead of lockdown easing
George Eustic
The UK government has announced that 626 more people have died from coronavirus since yesterday, taking the total death toll to 31,241.
Environment secretary George Eustice said that 4,649 more people had tested positive for Covid-19 since yesterday. That took the total to 211,364.
Eustice said that 97,000 people were tested yesterday. That is short of the government’s 100,000 daily target which it has missed for the last six days.
Prime Minister Boris Johnson will on Sunday lay out a “roadmap” of Britain’s exit from the coronavirus lockdown.
However, the government has been criticised for poor messaging over the PM’s announcement. Fears have been raised that the public will preempt the PM and surge into public areas over this bank holiday weekend.
Eustice today said: “The Prime Minister will outline any changes to the guidance on Sunday. But in the meantime, in spite of the sunny bank holiday, it is vitally important that we continue to abide by the current restrictions.”
“There isn’t going to be any dramatic overnight change,” Eustice said. He said Britain is not “out of the woods” and needs to avoid a second peak of infections that could “overwhelm our NHS”.
Britain’s death toll of 31,241 is the highest in Europe. Just under 30,000 people have died in Italy, and Spain and France have both suffered 26,000 deaths.
However, it is difficult to make useful international comparisons as countries have different sized populations and methods of recording deaths.
The government has warned against such comparisons but has itself made them. On Wednesday, Labour leader Keir Starmer challenged the Prime Minister on the death toll, asking “how on earth” it had “come to this”.
Johnson is set to announce some easing of the coronavirus lockdown on Sunday. Many Conservative backbenchers have called on the government to “reopen” the economy so as to boost growth.
Former chancellor Sajid Javid today said lockdowns should be eased quickly and consider “running the economy quite hot”.
However, Eustice today said any changes “will be done with the utmost of caution”.


cityam--2020-05-08--US stocks rise on China trade hopes despite dire jobs report

US stocks have risen in early trading despite the worst unemployment report in modern history , as investors take cheer in the US and China ’ s agreement to work together on the smooth implementation of their trade deal .
The Dow Jones index was 1.5 per cent higher .
The S & P 500 rose 1.3 per cent while the Nasdaq climbed 1.2 per cent .
European stocks have risen after China yesterday said its vice premier Liu He had talked by phone to US trade representative Robert Lighthizer and treasury secretary Steven Mnuchin .
Read more : Nonfarm @ @ @ @ @ @ @ Americans lose jobs With London trading closed for VE Day , the pan-European Stoxx 600 rose 0.8 per cent .
Germany ’ s Dax was 1.2 per cent higher and France ’ s CAC was up 0.9 per cent .
US stocks also climbed as investors brushed off “ nonfarm payrolls ” data that showed 21m Americans lost their jobs in April .
Unemployment surged to 15 per cent , its highest level since the Great Depression .
Investors were expecting an even worse figure , however .
Weekly jobless claims data means @ @ @ @ @ @ @ markets .
“ Wall Street did not learn anything new regarding the US labor situation , ” said Edward Moya , senior market analyst at currency firm Oanda .
“ But one thing seems certain , price action is signaling that the majority of these job losses are expected to be short-lived.
” “ Today ’ s stock market rally is mostly attributed to US-China trade negotiators pledging support for the phase-one trade deal , ” Moya said .
The “ phase one ” US-China trade deal was struck this year before coronavirus @ @ @ @ @ @ @ agreed to ramp up purchases of US agricultural products in return for the lifting of tariffs .
However , coronavirus has thrown the deal into doubt .
It has deeply damaged global trade and China ’ s ability to purchase US goods , but it has also increased tensions between the two countries .
Investors were spooked last week when US President Donald Trump raised the possibility of more tariffs against China .
Yet they were cheered yesterday and today by news of some progress over the deal .
Liu and Lighthizer and @ @ @ @ @ @ @ achieving the goals of the trade deal this year .
Read more : Oil prices slip on fears of renewed US-China trade war The office of the US trade representative said both sides “ agreed that in spite of the current global health emergency , both countries fully expect to meet their obligations under the agreement in a timely manner ” .
The dollar fell as investors bought equities today , slipping 0.2 per cent on an index against other currencies .
The euro rose 0.1 per cent to $ 1.084 .

US stocks rise on China trade hopes despite dire jobs report
US treasury secretary Steven Mnuchin spoke with Chinese vice premier Liu He about the two sides’ trade deal
US stocks have risen in early trading despite the worst unemployment report in modern history, as investors take cheer in the US and China’s agreement to work together on the smooth implementation of their trade deal.
The Dow Jones index was 1.5 per cent higher. The S&P 500 rose 1.3 per cent while the Nasdaq climbed 1.2 per cent.
European stocks have risen after China yesterday said its vice premier Liu He had talked by phone to US trade representative Robert Lighthizer and treasury secretary Steven Mnuchin.
With London trading closed for VE Day, the pan-European Stoxx 600 rose 0.8 per cent. Germany’s Dax was 1.2 per cent higher and France’s CAC was up 0.9 per cent.
US stocks also climbed as investors brushed off “nonfarm payrolls” data that showed 21m Americans lost their jobs in April. Unemployment surged to 15 per cent, its highest level since the Great Depression.
Investors were expecting an even worse figure, however. Weekly jobless claims data means the dire unemployment situation was well-known to markets.
“Wall Street did not learn anything new regarding the US labor situation,” said Edward Moya, senior market analyst at currency firm Oanda. “But one thing seems certain, price action is signaling that the majority of these job losses are expected to be short-lived.”
“Today’s stock market rally is mostly attributed to US-China trade negotiators pledging support for the phase-one trade deal,” Moya said.
US-China deal cooperation lifts US stocks
The “phase one” US-China trade deal was struck this year before coronavirus spread rapidly around the world. China agreed to ramp up purchases of US agricultural products in return for the lifting of tariffs.
However, coronavirus has thrown the deal into doubt. It has deeply damaged global trade and China’s ability to purchase US goods, but it has also increased tensions between the two countries.
Investors were spooked last week when US President Donald Trump raised the possibility of more tariffs against China.
Yet they were cheered yesterday and today by news of some progress over the deal. Liu and Lighthizer and Mnuchin agreed they would work together on achieving the goals of the trade deal this year.
The office of the US trade representative said both sides “agreed that in spite of the current global health emergency, both countries fully expect to meet their obligations under the agreement in a timely manner”.
The dollar fell as investors bought equities today, slipping 0.2 per cent on an index against other currencies. The euro rose 0.1 per cent to $1.084.


cityam--2020-05-08--Nonfarm payrolls: US unemployment soars as 21m Americans lose jobs

More than 20m Americans lost their jobs in April , official “ nonfarm payrolls ” data has shown , as the world ’ s largest economy was battered by coronavirus and the lockdowns put in place to stop it spreading .
The 20.5m job losses sent the unemployment rate soaring to 14.7 per cent , the US Bureau of Labor Statistics ( BLS ) said , by far the worst number seen since the Great Depression .
Unemployment stood at a 50-year low of 3.5 per cent just two months ago .
Read more : US jobless claims hit 33m @ @ @ @ @ @ @ changes in these measures reflect the effects of the coronavirus pandemic and efforts to contain it , ” the BLS said .
“ Employment fell sharply in all major industry sectors , with particularly heavy job losses in leisure and hospitality.
” The services sector bore the brunt of the pain .
In April , employment in leisure and hospitality plummeted by 7.7m or 47 per cent .
Almost three-quarters of the decrease occurred in food services and drinking places , the BLS said .
More than 1m jobs were shed in the @ @ @ @ @ @ @ and more than 800,000 were axed from the accommodation sector .
More job losses are set to come .
Week-by-week data has shown the number of new jobless claims soaring .
Figures yesterday indicated that roughly 33m Americans have claimed unemployment insurance in the last seven weeks .
Today ’ s BLS data , which covers the month of April , showed by far the steepest job losses since the Second World War .
In the worst month of the financial crisis , around 800,000 Americans lost their jobs .
The worst monthly @ @ @ @ @ @ @ in 1945 as World War II ended .
The nonfarm payrolls report is the clearest picture yet of the devastating impact of the coronavirus pandemic on the US economy .
The data is based on surveys of households and businesses and provides the most complete estimate of job losses so far .
Richard Flynn , UK managing director at Charles Schwab , said today ’ s figures show “ jaw-dropping levels of unemployment ” .
“ While the US Federal Reserve has used its full range of tools to support the US economy @ @ @ @ @ @ @ economic repercussions of this downturn are far greater than anticipated and will be felt long after employees have returned to work .
”

Nonfarm payrolls: US unemployment soars as 21m Americans lose jobs
More than 20m Americans lost their jobs in April, official “nonfarm payrolls” data has shown, as the world’s largest economy was battered by coronavirus and the lockdowns put in place to stop it spreading.
The 20.5m job losses sent the unemployment rate soaring to 14.7 per cent, the US Bureau of Labor Statistics (BLS) said, by far the worst number seen since the Great Depression. Unemployment stood at a 50-year low of 3.5 per cent just two months ago.
“The changes in these measures reflect the effects of the coronavirus pandemic and efforts to contain it,” the BLS said.
“Employment fell sharply in all major industry sectors, with particularly heavy job losses in leisure and hospitality.”
The services sector bore the brunt of the pain. In April, employment in leisure and hospitality plummeted by 7.7m or 47 per cent. Almost three-quarters of the decrease occurred in food services and drinking places, the BLS said.
More than 1m jobs were shed in the arts, entertainment, and recreation industry and more than 800,000 were axed from the accommodation sector.
More job losses are set to come. Week-by-week data has shown the number of new jobless claims soaring. Figures yesterday indicated that roughly 33m Americans have claimed unemployment insurance in the last seven weeks.
Today’s BLS data, which covers the month of April, showed by far the steepest job losses since the Second World War.
In the worst month of the financial crisis, around 800,000 Americans lost their jobs. The worst monthly loss on record was close to 2m in 1945 as World War II ended.
The nonfarm payrolls report is the clearest picture yet of the devastating impact of the coronavirus pandemic on the US economy. The data is based on surveys of households and businesses and provides the most complete estimate of job losses so far.
Richard Flynn, UK managing director at Charles Schwab, said today’s figures show “jaw-dropping levels of unemployment”.
“While the US Federal Reserve has used its full range of tools to support the US economy, it is clear now that the economic repercussions of this downturn are far greater than anticipated and will be felt long after employees have returned to work.”


cityam--2020-05-09--Coronavirus: Digital is at the heart of SME recovery

Behind the sobering statistics around businesses in financial distress , thousands of SMEs are making radical changes to their working models through digitisation .
Businesses that have been traditional at the core are now discovering that digital processes offer far greater scalability and resilience , and as a result of Covid-19 I believe we ’ ll see a rapid and profound shift .
To survive , businesses will adapt to become increasingly digital at the core rather than at the edge , and traditional elements like people and place will move to exist as layers on top of the core @ @ @ @ @ @ @ ’ t lose their relevance , they just won ’ t be as central to the essential , everyday operations of a business .
Things change .
Businesses change .
Nintendo started out making playing cards , and Netflix rented out DVDs once upon a time .
But now we are seeing that businesses have been forced to adapt to survive , and in the shortest time possible .
Local shopkeepers who preferred cash are now accepting contactless payment .
Garage mechanics are moving online and going mobile .
Food manufacturers who only @ @ @ @ @ @ @ media to seek new customers .
These are the businesses who have been forced to think differently , and fast .
There are over 2 million small businesses around the world that use the Xero platform , and we ’ ve seen first-hand how they ’ ve adapted .
Take Toast Ale , a company that makes craft beer from surplus fresh bread and donates all profits to charity .
The team was quick to overhaul its website so they could sell online .
Previously , around 70 % of their sales were @ @ @ @ @ @ @ However , taking their offering online has meant they are able to continue selling , directly to consumers .
In doing so , they can still support those in need by funding meals .
Jules at Home , a village shop near Northampton , has moved all trading online since the pandemic – even expanding product ranges to meet demand for the increasing need for garden products .
They are using e-commerce platform Shopify in its full capacity to support sales .
They have been able to grow their business , finding new @ @ @ @ @ @ @ range on the new web shop .
Going online has improved their cash flow , raised their profile locally and even made them question the need for a physical store at all .
Hotpod Yoga is another business that has shown its resilience .
With franchises across the country , they had to close every single branch .
Within just three days , they were offering virtual classes .
This was no mean feat .
All instructors had to be equipped with the right tools so they could stream from home .
They @ @ @ @ @ @ @ – Hotpod Home , to support customer demand .
It ’ s proved to be so popular that they ’ ve decided to keep it as a permanent fixture .
These are incredibly difficult times we find ourselves in , that will continue to impact the business community in the years ahead .
But , it ’ s been great to hear how some small businesses have shown their resilience .
Digital tools like e-commerce apps , social media platforms and video streaming technologies have had a huge role to play in enabling @ @ @ @ @ @ @ the switch .
For many , this period is uncovering a radical new approach to work and to the running of your business , proving that faced with any situation , we can always find ways to adapt .

Coronavirus: Digital is at the heart of SME recovery
Gary Turner is co-founder of Xero
Behind the sobering statistics around businesses in financial distress, thousands of SMEs are making radical changes to their working models through digitisation.
Businesses that have been traditional at the core are now discovering that digital processes offer far greater scalability and resilience, and as a result of Covid-19 I believe we’ll see a rapid and profound shift.
To survive, businesses will adapt to become increasingly digital at the core rather than at the edge, and traditional elements like people and place will move to exist as layers on top of the core. In this flip, people won’t lose their relevance, they just won’t be as central to the essential, everyday operations of a business.
Things change. Businesses change. Nintendo started out making playing cards, and Netflix rented out DVDs once upon a time. But now we are seeing that businesses have been forced to adapt to survive, and in the shortest time possible.
Local shopkeepers who preferred cash are now accepting contactless payment. Garage mechanics are moving online and going mobile. Food manufacturers who only sold goods to restaurants are using social media to seek new customers. These are the businesses who have been forced to think differently, and fast.
There are over 2 million small businesses around the world that use the Xero platform, and we’ve seen first-hand how they’ve adapted.
Take Toast Ale, a company that makes craft beer from surplus fresh bread and donates all profits to charity. The team was quick to overhaul its website so they could sell online. Previously, around 70% of their sales were from pubs, restaurants and events. However, taking their offering online has meant they are able to continue selling, directly to consumers. In doing so, they can still support those in need by funding meals.
Jules at Home, a village shop near Northampton, has moved all trading online since the pandemic – even expanding product ranges to meet demand for the increasing need for garden products. They are using e-commerce platform Shopify in its full capacity to support sales. They have been able to grow their business, finding new customers who have welcomed the broader product range on the new web shop. Going online has improved their cash flow, raised their profile locally and even made them question the need for a physical store at all.
Hotpod Yoga is another business that has shown its resilience. With franchises across the country, they had to close every single branch. Within just three days, they were offering virtual classes. This was no mean feat. All instructors had to be equipped with the right tools so they could stream from home. They developed a new brand in the process – Hotpod Home, to support customer demand. It’s proved to be so popular that they’ve decided to keep it as a permanent fixture.
These are incredibly difficult times we find ourselves in, that will continue to impact the business community in the years ahead. But, it’s been great to hear how some small businesses have shown their resilience. Digital tools like e-commerce apps, social media platforms and video streaming technologies have had a huge role to play in enabling them to act fast, and make the switch.
For many, this period is uncovering a radical new approach to work and to the running of your business, proving that faced with any situation, we can always find ways to adapt.


cityam--2020-05-10--TfL seeking a £2bn bailout from central government

Transport for London ( TfL ) is seeking a £2bn bailout from the government after its finances have been plunged into dire territory by the coronavirus crisis .
TfL bosses , including London mayor Sadiq Khan , are in talks with Whitehall to secure the emergency funding after the crisis has left the body with just £1bn in the bank , according to the Sunday Times .
The transport body is reportedly spends £21m per day , leaving it just two months until its coffers run dry .
The state of TfL ’ s finances may put planned upgrades , @ @ @ @ @ @ @ , in doubt .
TfL ’ s other planned projects – signalling upgrades , Crossrail 2 and DLR extensions – may also be under threat .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
London ’ s public transport system has been battered by the coronavirus outbreak , with Tube numbers down 95 per cent and bus numbers down 85 per cent .
A TfL spokesperson said : “ We are working closely with the government and are in constructive @ @ @ @ @ @ @ made available .
“ A successful conclusion to these discussions is now urgent.
” It comes as TfL were already loaded with an estimated £11bn of debt and a projected 2019-20 deficit of around £220m , which was a vast improvement on initial estimates .
TfL ’ s finances have been affected by the government reducing its annual contribution to the body by £700m , Crossrail ’ s budget blowouts and Khan ’ s fares freeze for single journeys implemented in 2016 .
Writing in City A.M. on Wednesday , Khan said there @ @ @ @ @ @ @ to how [ TfL ] was before the crisis ” .
“ It ’ s an inescapable fact that no mass transport system of the scale we have in London can operate at full capacity while maintaining social distancing at all times , ” he said .
Read more : Sadiq Khan : There will be no swift return to normality for TfL “ Even with Tube ridership standing at just five per cent at the moment , there are times when passengers struggle to keep their distance .
“ This means that @ @ @ @ @ @ @ place , the total carrying capacity of the Tube will have to be reduced to between 13 to 20 per cent of pre-crisis levels – even with close to 100 per cent of trains running .
”

TfL seeking a £2bn bailout from central government
A man wearing a face mask as a precautionary measure against COVID-19, waits for a TfL tube train to arrive, on the platform at Finsbury Park underground station in north London on March 31, 2020, as life in Britain continues during the nationwide lockdown to combat the novel coronavirus pandemic. – The novel coronavirus pandemic has so far claimed nearly 38,000 lives worldwide in a health crisis that is rapidly reorganising political power, hammering the global economy and the daily existence of some 3.6 billion people. (Photo by Isabel INFANTES / AFP) (Photo by ISABEL INFANTES/AFP via Getty Images)
Transport for London (TfL) is seeking a £2bn bailout from the government after its finances have been plunged into dire territory by the coronavirus crisis.
TfL bosses, including London mayor Sadiq Khan, are in talks with Whitehall to secure the emergency funding after the crisis has left the body with just £1bn in the bank, according to the Sunday Times.
The transport body is reportedly spends £21m per day, leaving it just two months until its coffers run dry.
The state of TfL’s finances may put planned upgrades, such as the long-touted Bakerloo line extension, in doubt.
TfL’s other planned projects – signalling upgrades, Crossrail 2 and DLR extensions – may also be under threat.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
London’s public transport system has been battered by the coronavirus outbreak, with Tube numbers down 95 per cent and bus numbers down 85 per cent.
A TfL spokesperson said: “We are working closely with the government and are in constructive discussions over the support that can be made available.
“A successful conclusion to these discussions is now urgent.”
It comes as TfL were already loaded with an estimated £11bn of debt and a projected 2019-20 deficit of around £220m, which was a vast improvement on initial estimates.
TfL’s finances have been affected by the government reducing its annual contribution to the body by £700m, Crossrail’s budget blowouts and Khan’s fares freeze for single journeys implemented in 2016.
Writing in City A.M. on Wednesday, Khan said there would not be “a swift return to how [TfL] was before the crisis”.
“It’s an inescapable fact that no mass transport system of the scale we have in London can operate at full capacity while maintaining social distancing at all times,” he said.
“Even with Tube ridership standing at just five per cent at the moment, there are times when passengers struggle to keep their distance.
“This means that if the social distancing requirements remain in place, the total carrying capacity of the Tube will have to be reduced to between 13 to 20 per cent of pre-crisis levels – even with close to 100 per cent of trains running.”


cityam--2020-05-10--Virgin Atlantic launches desperate plea for government support as buyout firms circle

The chief executive of Virgin Atlantic has issued a last-ditch plea for a government bailout as a string of buyout firms circle the troubled carrier .
Sir Richard Branson ’ s airline has failed to impress the Treasury with its request for a £500m taxpayer-funded rescue package , with chancellor Rishi Sunak stating support would be given only as a “ last resort ” .
Read more : Virgin Atlantic to cut 3,150 jobs and quit Gatwick base But boss Shai Weiss has insisted he can steer the company , which faces collapse if it does not secure additional cash @ @ @ @ @ @ @ debt .
“ These facilities may not actually be drawn down — they ’ re there to ensure that the airline can operate , ” he told the Sunday Times .
“ But I would say that within two to five years , we would pay it back , and probably even sooner .
This is not a handout .
We will repay it with interest.
” Weiss said the company had held “ constructive ” talks with ministers , adding that while he could not rule out the state taking an equity @ @ @ @ @ @ @ believe the government was interested in taking a boardroom role .
In addition , the aviation chief said not all of Virgin ’ s rescue cash would come from the government , suggesting instead a “ public-private partnership ” that could involve loan guarantees to help encourage investors .
“ Private investors may want to know the government is there to provide some kind of assurance on the back end of that through the form of guarantees or direct funding , ” Weiss said .
Houlihan Lokey , the airline ’ s banking @ @ @ @ @ @ @ around a dozen buyout funds including Apollo Global Management and Greybull Capital about securing fresh funding .
The aviation sector has been ravaged by a collapse in demand during the Covid-19 crisis , and Virgin has been forced to cut more than 3,000 jobs and shut down its operations at Gatwick in a desperate bid to stay afloat .
The company has put advisers at restructuring specialist Alvarez & Marsal on standby as it prepares contingency plans for a potential insolvency process , Sky News reported yesterday .
The advisers will be focused @ @ @ @ @ @ @ that would enable a restructured and financially-viable airline to emerge from the crisis , according to the report .
Meanwhile the British Airline Pilots Association ( Balpa ) has ramped up its pressure on the government to do more to help the aviation sector , warning it was now in a “ death spiral ” .
Read more : Airline body says face masks should be worn on flights to prevent the spread of coronavirus Brian Strutton , Balpa general secretary , took aim at plans to introduce a 14-day quarantine period for @ @ @ @ @ @ @ well as a £2bn package for walking and cycling .
“ My concern is that once again the government has not considered the impacts on pilots and other crew facing job losses and pay cuts — there has to be a moratorium on these threats and a viable plan to support aviation , ” he said .

Virgin Atlantic launches desperate plea for government support as buyout firms circle
The chief executive of Virgin Atlantic has issued a last-ditch plea for a government bailout as a string of buyout firms circle the troubled carrier.
Sir Richard Branson’s airline has failed to impress the Treasury with its request for a £500m taxpayer-funded rescue package, with chancellor Rishi Sunak stating support would be given only as a “last resort”.
But boss Shai Weiss has insisted he can steer the company, which faces collapse if it does not secure additional cash, back into profitability to repay the debt.
“These facilities may not actually be drawn down — they’re there to ensure that the airline can operate,” he told the Sunday Times.
“But I would say that within two to five years, we would pay it back, and probably even sooner. This is not a handout. We will repay it with interest.”
Weiss said the company had held “constructive” talks with ministers, adding that while he could not rule out the state taking an equity stake in Virgin, he did not believe the government was interested in taking a boardroom role.
In addition, the aviation chief said not all of Virgin’s rescue cash would come from the government, suggesting instead a “public-private partnership” that could involve loan guarantees to help encourage investors.
“Private investors may want to know the government is there to provide some kind of assurance on the back end of that through the form of guarantees or direct funding,” Weiss said.
Houlihan Lokey, the airline’s banking adviser, is reportedly in talks with around a dozen buyout funds including Apollo Global Management and Greybull Capital about securing fresh funding.
The aviation sector has been ravaged by a collapse in demand during the Covid-19 crisis, and Virgin has been forced to cut more than 3,000 jobs and shut down its operations at Gatwick in a desperate bid to stay afloat.
The company has put advisers at restructuring specialist Alvarez & Marsal on standby as it prepares contingency plans for a potential insolvency process, Sky News reported yesterday.
The advisers will be focused on exploring options for a pre-pack administration that would enable a restructured and financially-viable airline to emerge from the crisis, according to the report.
Meanwhile the British Airline Pilots Association (Balpa) has ramped up its pressure on the government to do more to help the aviation sector, warning it was now in a “death spiral”.
Brian Strutton, Balpa general secretary, took aim at plans to introduce a 14-day quarantine period for anyone arriving in the country, as well as a £2bn package for walking and cycling.
“My concern is that once again the government has not considered the impacts on pilots and other crew facing job losses and pay cuts — there has to be a moratorium on these threats and a viable plan to support aviation,” he said.


cityam--2020-05-10--Minister: Government wants to 'encourage people to go back to work'

The government wants to encourage people to go back to work as it unveils its new coronavirus slogan , according to housing secretary Robert Jenrick .
Boris Johnson will unveil a new slogan to replace the government ’ s “ stay home , protect the NHS , save lives ” mantra it has repeated throughout the Covid-19 lockdown .
The Sunday Telegraph reported it would be changed to “ stay alert , control the virus , save lives ” from tonight .
Speaking to Sky News today , Jenrick said the new message reflected that the government now wants “ @ @ @ @ @ @ @ to go to work ” .
It comes after Tory backbenchers , donors and supporters have pressured the government for weeks to re-open the economy .
Universal Credit claims have risen by 1.8m since the start of the crisis and a further 6.3m are being paid by the state through the job retention scheme .
“ They will be able to understand this message which is that you should be staying at home as much as possible , but when we do go to work and go about our business , we need @ @ @ @ @ @ @ stay alert , ” Jenrick said .
“ That means things like respecting others , remaining two metres apart , washing your hands , following the social distancing guidelines because the virus continues to be prevalent.
” Johnson is expected to slightly ease the coronavirus lockdown in a 7pm address tonight , just a day after the official UK Covid-19 death toll rose to 31,587 .
The Prime Minister is expected to tell people they can now exercise more than once a day and are allowed to sunbathe in public spaces as long @ @ @ @ @ @ @ others .
Garden centres and some workplaces are also expected to re-open as the government seeks to get the economy moving again .
However , the government ’ s new slogan has already come under fire today for being too vague .
Read more : UK coronavirus death toll rises by 626 to 31,241 ahead of lockdown easing When asked if the new slogan was “ too woolly ” by Sky News today , Jenrick said : “ Well , I hope not .
The message that the public have adhered to very @ @ @ @ @ @ @ staying at home , now does need to be updated .
“ We need to have a broader message because we want to slowly and cautiously restart the economy and the country… we want now to have a message which encourages people to go to work , as we begin to ease some of the lockdown measures to take advantage of those but always to be cautious .
”

Minister: Government wants to ‘encourage people to go back to work’
Housing, Communities and Local Government Secretary Robert Jenrick speaking at a news conference
The government wants to encourage people to go back to work as it unveils its new coronavirus slogan, according to housing secretary Robert Jenrick.
Boris Johnson will unveil a new slogan to replace the government’s “stay home, protect the NHS, save lives” mantra it has repeated throughout the Covid-19 lockdown.
The Sunday Telegraph reported it would be changed to “stay alert, control the virus, save lives” from tonight.
Speaking to Sky News today, Jenrick said the new message reflected that the government now wants “to have a message which encourages people to go to work”.
It comes after Tory backbenchers, donors and supporters have pressured the government for weeks to re-open the economy.
Universal Credit claims have risen by 1.8m since the start of the crisis and a further 6.3m are being paid by the state through the job retention scheme.
“They will be able to understand this message which is that you should be staying at home as much as possible, but when we do go to work and go about our business, we need to remain vigilant, we need to stay alert,” Jenrick said.
“That means things like respecting others, remaining two metres apart, washing your hands, following the social distancing guidelines because the virus continues to be prevalent.”
Johnson is expected to slightly ease the coronavirus lockdown in a 7pm address tonight, just a day after the official UK Covid-19 death toll rose to 31,587.
The Prime Minister is expected to tell people they can now exercise more than once a day and are allowed to sunbathe in public spaces as long as they keep a safe distance from others.
Garden centres and some workplaces are also expected to re-open as the government seeks to get the economy moving again.
However, the government’s new slogan has already come under fire today for being too vague.
When asked if the new slogan was “too woolly” by Sky News today, Jenrick said: “Well, I hope not. The message that the public have adhered to very well for the last few weeks of staying at home, now does need to be updated.
“We need to have a broader message because we want to slowly and cautiously restart the economy and the country… we want now to have a message which encourages people to go to work, as we begin to ease some of the lockdown measures to take advantage of those but always to be cautious.”


cityam--2020-05-10--Retailers call for shop reopenings based on safety standards

The reopening of shops after the coronavirus lockdown should be based on safety standards rather than size or business type , a top retail chief has said .
Helen Dickinson , chief executive of the British Retail Consortium ( BRC ) , said she expected a “ gradual lifting ” of the restrictions , with schools and transport the first to reopen .
Read more : Ocado retail sales surge 40 per cent in second quarter on stockpiling But she said retailers should be allowed to open their doors again based on the safety and social distancing measures they have @ @ @ @ @ @ @ staggering shift times , restricting the number of people allowed in the store at one time and installing plastic screens at tills .
Dickinson said it was “ incumbent ” on shops to ensure the proper precautions were taken , adding that supermarkets have “ shown us the way ” in recent months .
As well as protecting store staff , these actions would “ give us confidence as shoppers , members of the public , that we can go out to shop , ” she told the BBC .
Prime Minister Boris @ @ @ @ @ @ @ steps in the UK ’ s response to coronavirus in an address to the nation this evening .
The government has adapted its slogan from “ stay at home ” to “ stay alert ” as the country moves into a new phase of the lockdown .
However , Johnson is not expected to announce significant changes to the restrictions , with only garden centres slated to reopen from next week .
Dickinson said the reopening of schools was also important for retailers , with many retail staff unable to return to work @ @ @ @ @ @ @ .
Read more : London retail rents to drop as occupier demand falls She said a phased lifting of restrictions across different industries , with school and transport reopened early on , would help retail workers with children .
The retail chief also called for a “ tapering down ” of the government ’ s furlough scheme , which is due to run until the end of June , to ensure businesses were not hit by a “ cliff edge of support falling away ” .

Retailers call for shop reopenings based on safety standards
The reopening of shops after the coronavirus lockdown should be based on safety standards rather than size or business type, a top retail chief has said.
Helen Dickinson, chief executive of the British Retail Consortium (BRC), said she expected a “gradual lifting” of the restrictions, with schools and transport the first to reopen.
But she said retailers should be allowed to open their doors again based on the safety and social distancing measures they have put in place.
These measures include staggering shift times, restricting the number of people allowed in the store at one time and installing plastic screens at tills.
Dickinson said it was “incumbent” on shops to ensure the proper precautions were taken, adding that supermarkets have “shown us the way” in recent months.
As well as protecting store staff, these actions would “give us confidence as shoppers, members of the public, that we can go out to shop,” she told the BBC.
Prime Minister Boris Johnson is set to outline the next steps in the UK’s response to coronavirus in an address to the nation this evening.
The government has adapted its slogan from “stay at home” to “stay alert” as the country moves into a new phase of the lockdown.
However, Johnson is not expected to announce significant changes to the restrictions, with only garden centres slated to reopen from next week.
Dickinson said the reopening of schools was also important for retailers, with many retail staff unable to return to work while their children are still at home.
She said a phased lifting of restrictions across different industries, with school and transport reopened early on, would help retail workers with children.
The retail chief also called for a “tapering down” of the government’s furlough scheme, which is due to run until the end of June, to ensure businesses were not hit by a “cliff edge of support falling away”.


cityam--2020-05-10--Boris Johnson set to ease coronavirus lockdown restrictions tonight

Boris Johnson is expected to announce an easing of the UK ’ s coronavirus lockdown tonight as the government implements a new five-tier warning rating .
It is expected that the Prime Minister will announce that , from next week , people will be allowed to exercise more than once a day and sunbathe as long as two metres distance is kept between people .
Read more : UK coronavirus death toll rises by 626 to 31,241 ahead of lockdown easing Garden centres and some workplaces are also set to re-open as part of the gradual easing of the lockdown @ @ @ @ @ @ @ to replace the “ stay at home , protect the NHS , save lives ” mantra the government has pushed since the start of the lockdown .
The government will now tell people to “ stay alert , control the virus and save lives ” , according to the Sunday Telegraph .
There will also be a new five-tier warning system , similar to the terror alert level , with one a green-level warning and five a red-level warning .
Listen to our daily City View podcast as we chart the economic fallout @ @ @ @ @ @ @ .
Johnson will tell the nation during his address tonight that the nation is at level four , but approaching level three .
Housing secretary Robert Jenrick was asked this morning on Sky News if the new slogan was “ too woolly ” and vague for people to follow .
“ The message that the public have adhered to very well for the last few weeks of staying at home , now does need to be updated , ” he said .
“ We need to have a broader message because we want @ @ @ @ @ @ @ and the country…we want now to have a message which encourages people to go to work , as we begin to ease some of the lockdown measures to take advantage of those but always to be cautious.
” Johnson is also expected to announce tonight two new added restrictions , according to the Sunday Times .
People will be told to wear face masks or face coverings on public transport and in shops , but they will not be compulsory .
A minister told the Times : “ We do not want people @ @ @ @ @ @ @ They are for clinical settings .
A face covering can be a scarf , a bandana , handkerchief .
You could even make your own.
” Read more : Banking boss raises prospect of further changes to Coronavirus Business Loan Scheme The second new restriction is that people entering the UK from overseas will be forced to self-isolate for 14 days .
People not able to do this will be put up in a hotel near the airport by the government .

Boris Johnson set to ease coronavirus lockdown restrictions tonight
A man has his hair cut by a housemate outside their flat as the sun sets in Finsbury Park
Boris Johnson is expected to announce an easing of the UK’s coronavirus lockdown tonight as the government implements a new five-tier warning rating.
It is expected that the Prime Minister will announce that, from next week, people will be allowed to exercise more than once a day and sunbathe as long as two metres distance is kept between people.
Garden centres and some workplaces are also set to re-open as part of the gradual easing of the lockdown.
Johnson will unveil a new slogan to replace the “stay at home, protect the NHS, save lives” mantra the government has pushed since the start of the lockdown.
The government will now tell people to “stay alert, control the virus and save lives”, according to the Sunday Telegraph.
There will also be a new five-tier warning system, similar to the terror alert level, with one a green-level warning and five a red-level warning.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Johnson will tell the nation during his address tonight that the nation is at level four, but approaching level three.
Housing secretary Robert Jenrick was asked this morning on Sky News if the new slogan was “too woolly” and vague for people to follow.
“The message that the public have adhered to very well for the last few weeks of staying at home, now does need to be updated,” he said.
“We need to have a broader message because we want to slowly and cautiously restart the economy and the country…we want now to have a message which encourages people to go to work, as we begin to ease some of the lockdown measures to take advantage of those but always to be cautious.”
Johnson is also expected to announce tonight two new added restrictions, according to the Sunday Times.
People will be told to wear face masks or face coverings on public transport and in shops, but they will not be compulsory.
A minister told the Times: “We do not want people going out and buying surgical masks. They are for clinical settings. A face covering can be a scarf, a bandana, handkerchief. You could even make your own.”
The second new restriction is that people entering the UK from overseas will be forced to self-isolate for 14 days.
People not able to do this will be put up in a hotel near the airport by the government.