cityam--2020-11-21--In pictures: Westminster gets festive as parliament unveils Christmas tree

Westminster is gearing up for the start of the festive period after parliament ’ s mammoth Christmas tree was unveiled .
The 43-feet tall Sitka spruce took up its traditional place in the grounds of the historic House of Commons .
Read more : Brits to be granted ‘ week of Christmas freedom ’ in lockdown easing plan The prodigious plant began its life in Northumberland ’ s Kielder Forest , before being transferred to SW1 by Forestry England .
“ I am so pleased we are able to keep at least one of our annual traditions , so it @ @ @ @ @ @ @ this year ’ s Christmas tree , which I hope will raise spirits in these troubled times , ” said Sir Lindsay Hoyle , Speaker of the House of Commons .
“ We really appreciate the gift from Forestry England , which comes at a time when we all need to support each other , and none more so than at Christmas .
“ I hope the tree , when it ’ s decorated , will act as a beacon of hope that life will one day return to normal.
” Read more @ @ @ @ @ @ @ risk ‘ allowing Covid to steal Christmas ’ The main tree is located in New Palace Yard beneath Big Ben in the Palace of Westminster .
Two other smaller trees stand in Westminster Hall and Speaker ’ s House .
It continues a long tradition of parliament ’ s mammoth Christmas trees , which have been sourced from the Kielder Forest for the last 19 years .

In pictures: Westminster gets festive as parliament unveils Christmas tree
The 43-feet spruce has taken up its traditional position outside parliament (Credit: UK Parliament/Roger Harris)
Westminster is gearing up for the start of the festive period after parliament’s mammoth Christmas tree was unveiled.
The 43-feet tall Sitka spruce took up its traditional place in the grounds of the historic House of Commons.
The prodigious plant began its life in Northumberland’s Kielder Forest, before being transferred to SW1 by Forestry England.
“I am so pleased we are able to keep at least one of our annual traditions, so it is wonderful to see the arrival of this year’s Christmas tree, which I hope will raise spirits in these troubled times,” said Sir Lindsay Hoyle, Speaker of the House of Commons.
The parliament tree has been sourced from the Kielder Forest for the last 19 years (Credit: UK Parliament/Roger Harris)
“We really appreciate the gift from Forestry England, which comes at a time when we all need to support each other, and none more so than at Christmas.
“I hope the tree, when it’s decorated, will act as a beacon of hope that life will one day return to normal.”
The main tree is located in New Palace Yard beneath Big Ben in the Palace of Westminster. Two other smaller trees stand in Westminster Hall and Speaker’s House.
It continues a long tradition of parliament’s mammoth Christmas trees, which have been sourced from the Kielder Forest for the last 19 years.


cityam--2020-11-21--Twitter to hand over @Potus account to Joe Biden on 20 January

Twitter will hand over the official account of the US president to the Joe Biden administration on 20 January , the company said today .
The @ Potus account is the president ’ s official account , and is separate from the personal account used to tweet by Donald Trump to tweet .
Read more : Mudge : Why has Twitter just hired a world-famous hacker ?
“ Twitter is actively preparing to support the transition of White House institutional Twitter accounts on January 20th , 2021 , ” Twitter said in a statement .
“ As we did for @ @ @ @ @ @ @ process is being done in close consultation with the National Archives and Records.
” The social media platform will also hand over other institutional White House accounts , including @ Flotus — First Lady of the United States — @ VP and @ whitehouse on inauguration day .
It follows reports that Twitter will meet members of Biden and vice president-elect Kamala Harris ’ team in the coming months to discuss how the new administration will use Twitter .
Biden is preparing to take office in January after securing victory in a drawn-out @ @ @ @ @ @ @ , Trump is still refusing to concede and is attempting to overturn the result of the election by making baseless claims of voter fraud .
Read more : Facebook and Twitter start removing violent rhetoric as US election tensions rise Twitter has previously attracted the ire of Trump after flagging a number of the president ’ s posts that made false or misleading claims or contained harmful material .
Facebook also took steps to remove misinformation spread by the president as social media took centre stage during a hugely divisive election .

Twitter to hand over @Potus account to Joe Biden on 20 January
Twitter said it will hand over the official presidential account to Joe Biden in January
Twitter will hand over the official account of the US president to the Joe Biden administration on 20 January, the company said today.
The @Potus account is the president’s official account, and is separate from the personal account used to tweet by Donald Trump to tweet.
“Twitter is actively preparing to support the transition of White House institutional Twitter accounts on January 20th, 2021,” Twitter said in a statement.
“As we did for the presidential transition in 2017, this process is being done in close consultation with the National Archives and Records.”
The social media platform will also hand over other institutional White House accounts, including @Flotus — First Lady of the United States — @VP and @whitehouse on inauguration day.
It follows reports that Twitter will meet members of Biden and vice president-elect Kamala Harris’ team in the coming months to discuss how the new administration will use Twitter.
Biden is preparing to take office in January after securing victory in a drawn-out election process earlier this month.
However, Trump is still refusing to concede and is attempting to overturn the result of the election by making baseless claims of voter fraud.
Twitter has previously attracted the ire of Trump after flagging a number of the president’s posts that made false or misleading claims or contained harmful material.
Facebook also took steps to remove misinformation spread by the president as social media took centre stage during a hugely divisive election.


cityam--2020-11-21--UK signs rollover trade deal with Canada ahead of post-Brexit talks

Britain today secured a continuity trade deal with Canada , ensuring the two countries ’ £20bn trading relationship will be maintained after Brexit .
The government said it has secured an “ agreement in principle ” to roll over current EU-Canada trading arrangements when the transition period ends on 31 December .
Read more : UK signs rollover trade deal with Canada ahead of post-Brexit talks This will pave the way for negotiations on a new trade deal , which will kick off next year .
“ This is a fantastic agreement for Britain which secures transatlantic trade with one @ @ @ @ @ @ @ said in a statement .
“ British businesses export everything from electric cars to sparkling wine to Canada , and today ’ s deal will ensure that trade goes from strength to strength .
“ Our negotiators have been working flat out to secure trade deals for the UK , and from as early next year we have agreed to start work on a new , bespoke trade deal with Canada that will go even further in meeting the needs of our economy.
” The agreement will give certainty to UK businesses exporting @ @ @ @ @ @ @ .
Johnson has promised to deliver improved trade deals to help establish a “ global Britain ” following Brexit .
While today ’ s rollover agreement only maintains current trading conditions , the trade department vowed to secure a “ more ambitious ” deal next year , which could include areas like digital trade , the environment and women ’ s economic empowerment .
The government said it has now agreed trade deals with 53 countries , accounting for £164bn of bilateral UK trade .
“ Securing continued access to one of our @ @ @ @ @ @ @ welcomed by our business communities , ” said Adam Marshall , director general of the British Chambers of Commerce .
“ However , the single most critical trade agreement our business communities need is one with the European Union .
“ Firms expect the two sides to agree a deal .
We urge government to redouble their efforts to secure this as soon as possible to give businesses the clarity they need.
” Read more : Ex-Australia PM Tony Abbott pushes for UK-Australia trade deal to be closed this year Mike Cherry , @ @ @ @ @ @ @ , said : “ There was always a danger that the end of the transition period would mean losing wider international market access that we enjoyed as part of EU membership .
“ So it ’ s really encouraging to see new trade deals secured with trading partners like Canada , long since seen as a crucial market by small firms .
”

UK signs rollover trade deal with Canada ahead of post-Brexit talks
Britain and Canada have agreed to roll over their current trading relationship after the transition period ends
Britain today secured a continuity trade deal with Canada, ensuring the two countries’ £20bn trading relationship will be maintained after Brexit.
The government said it has secured an “agreement in principle” to roll over current EU-Canada trading arrangements when the transition period ends on 31 December.
This will pave the way for negotiations on a new trade deal, which will kick off next year.
“This is a fantastic agreement for Britain which secures transatlantic trade with one of our closest allies,” Johnson said in a statement.
“British businesses export everything from electric cars to sparkling wine to Canada, and today’s deal will ensure that trade goes from strength to strength.
“Our negotiators have been working flat out to secure trade deals for the UK, and from as early next year we have agreed to start work on a new, bespoke trade deal with Canada that will go even further in meeting the needs of our economy.”
The agreement will give certainty to UK businesses exporting goods and services to Canada worth £11.4bn.
Johnson has promised to deliver improved trade deals to help establish a “global Britain” following Brexit.
While today’s rollover agreement only maintains current trading conditions, the trade department vowed to secure a “more ambitious” deal next year, which could include areas like digital trade, the environment and women’s economic empowerment.
The government said it has now agreed trade deals with 53 countries, accounting for £164bn of bilateral UK trade.
“Securing continued access to one of our top trading partners, will be warmly welcomed by our business communities,” said Adam Marshall, director general of the British Chambers of Commerce.
“However, the single most critical trade agreement our business communities need is one with the European Union.
“Firms expect the two sides to agree a deal. We urge government to redouble their efforts to secure this as soon as possible to give businesses the clarity they need.”
Mike Cherry, chairman of the Federation of Small Businesses, said: “There was always a danger that the end of the transition period would mean losing wider international market access that we enjoyed as part of EU membership.
“So it’s really encouraging to see new trade deals secured with trading partners like Canada, long since seen as a crucial market by small firms.”


cityam--2020-11-21--Crossrail will be ‘mothballed’ without extra funding, TfL chief warns

The troubled £19bn Crossrail project is at risk of being “ mothballed ’ unless it receives urgent additional funding , London ’ s transport chief has warned .
Transport for London ( TfL ) commissioner Andy Byford this week urged the Department for Transport to provide £80m of immediate support to keep the rail link on track , Sky News reported .
Read more : Crossrail 2 ‘ still needed in the future ’ despite cash drought In a letter to permanent secretary Bernadette Kelly , Byford reportedly said he would relinquish responsibility for the mammoth infrastructure project if further @ @ @ @ @ @ @ agreement is not reached this week , we will have no option but to mothball the project and to seek alternative governance for its eventual completion , ” the letter said , according to a Whitehall source .
“ I sincerely hope that we can avoid such a Doomsday scenario.
” Crossrail — formally known as the Elizabeth Line — has been plagued by a series of delays and escalating costs .
The line , which will connect Reading and Heathrow in the west to Shenfield and Abbey Wood in the east , @ @ @ @ @ @ @ 2018 at a cost of £14.9bn .
But Crossrail in August warned it was likely to cost £18.7bn — £450m more than the upper end of its revised budget announced in November 2019 — with the central section of the line not opening until 2022 .
In his letter , Byford is understood to have told Kelly that Crossrail was “ no longer able to make any further financial commitments ” .
Byford , who oversaw New York ’ s subway system before taking over as the capital ’ s transport commissioner in @ @ @ @ @ @ @ for Crossrail ’ s completion on the condition that the government provided sufficient funding .
TfL , which is co-sponsoring the project alongside the government , has seen its funding heavily hit by a decline in revenue during the coronavirus pandemic .
“ We therefore do not have the financial headroom to provide additional funding unless the government provides funding certainty now by agreeing to the heads of terms we have submitted to you , ” Mr Byford wrote , according to the report .
The project has been further impacted by a @ @ @ @ @ @ @ The organisation this month secured a £1.8bn bailout from the government following a bitter public dispute between mayor Sadiq Khan and Prime Minister Boris Johnson over its management .
A mayoral source said : “ TfL has stepped forward and taken on full responsibility for delivery of the Crossrail project and , at the government ’ s insistence that ‘ London pays ’ , the current funding proposal will see the vast majority of these costs covered by Greater London Authority borrowing .
“ This offer was made to ministers months ago and @ @ @ @ @ @ @ its fair share of a project whose financial benefits will overwhelmingly go to the Treasury .
It is inconceivable that a deal can not be done on terms so generous for the government.
” Read more : TfL boss that oversaw Crossrail and Garden Bridge fiascos set for an honour A government spokesperson said : “ The government remains committed to the efficient completion of the project , in a way that is fair to UK taxpayers , and that ensures London – as the primary beneficiary of Crossrail – bears the additional @ @ @ @ @ @ @ the Greater London Authority and Transport for London to develop a funding solution to see Crossrail ’ s completion.
” “ It is unfortunate , in contrast to other construction projects , the Mayor chose to unnecessarily halt work on Crossrail during the pandemic.
” A TfL spokesperson said : “ TfL , the GLA and government all continue to have discussions around the additional funding needed to complete the Crossrail project .
”

Crossrail will be ‘mothballed’ without extra funding, TfL chief warns
Crossrail has been plagued by a series of delays and escalating costs
The troubled £19bn Crossrail project is at risk of being “mothballed’ unless it receives urgent additional funding, London’s transport chief has warned.
Transport for London (TfL) commissioner Andy Byford this week urged the Department for Transport to provide £80m of immediate support to keep the rail link on track, Sky News reported.
In a letter to permanent secretary Bernadette Kelly, Byford reportedly said he would relinquish responsibility for the mammoth infrastructure project if further funding did not materialise.
“If agreement is not reached this week, we will have no option but to mothball the project and to seek alternative governance for its eventual completion,” the letter said, according to a Whitehall source.
“I sincerely hope that we can avoid such a Doomsday scenario.”
Crossrail — formally known as the Elizabeth Line — has been plagued by a series of delays and escalating costs.
The line, which will connect Reading and Heathrow in the west to Shenfield and Abbey Wood in the east, was supposed to be open in December 2018 at a cost of £14.9bn.
But Crossrail in August warned it was likely to cost £18.7bn — £450m more than the upper end of its revised budget announced in November 2019 — with the central section of the line not opening until 2022.
In his letter, Byford is understood to have told Kelly that Crossrail was “no longer able to make any further financial commitments”.
Byford, who oversaw New York’s subway system before taking over as the capital’s transport commissioner in May, has pledged to take responsibility for Crossrail’s completion on the condition that the government provided sufficient funding.
TfL, which is co-sponsoring the project alongside the government, has seen its funding heavily hit by a decline in revenue during the coronavirus pandemic.
“We therefore do not have the financial headroom to provide additional funding unless the government provides funding certainty now by agreeing to the heads of terms we have submitted to you,” Mr Byford wrote, according to the report.
The project has been further impacted by a row over TfL’s funding. The organisation this month secured a £1.8bn bailout from the government following a bitter public dispute between mayor Sadiq Khan and Prime Minister Boris Johnson over its management.
A mayoral source said: “TfL has stepped forward and taken on full responsibility for delivery of the Crossrail project and, at the government’s insistence that ‘London pays’, the current funding proposal will see the vast majority of these costs covered by Greater London Authority borrowing.
“This offer was made to ministers months ago and would mean London would cover more than its fair share of a project whose financial benefits will overwhelmingly go to the Treasury. It is inconceivable that a deal cannot be done on terms so generous for the government.”
A government spokesperson said: “The government remains committed to the efficient completion of the project, in a way that is fair to UK taxpayers, and that ensures London – as the primary beneficiary of Crossrail – bears the additional costs.
“We are working with the Greater London Authority and Transport for London to develop a funding solution to see Crossrail’s completion.”
“It is unfortunate, in contrast to other construction projects, the Mayor chose to unnecessarily halt work on Crossrail during the pandemic.”
A TfL spokesperson said: “TfL, the GLA and government all continue to have discussions around the additional funding needed to complete the Crossrail project.”


cityam--2020-11-22--China lobby tells UK: Embrace Beijing or 'suffer' business backlash

The UK will lose billions of pounds in private sector investment if it does not reverse its growing hostility toward China , according to a pro-Beijing business lobby .
The China Chamber of Commerce in the UK – which counts Huawei , ZTE and Air China as members – warned that its members may rethink their future UK strategies unless there is a thawing of the Beijing-London relationship .
Read more : China warns West on Hong Kong : ‘ Their eyes will be plucked out ’ Its chair also warned that there could be backlash against UK companies that @ @ @ @ @ @ @ Jaguar Land Rover and Burberry .
The UK ’ s relationship with China has become frosty this year , after it banned Huawei from helping build the country ’ s 5G infrastructure and accused Beijing of breaching the Sino-British treaty on Hong Kong .
Boris Johnson also just introduced security legislation that could stop Chinese companies from building infrastructure in Britain .
Before the Open newsletter : Start your day with the City View podcast and key market data In addition , many UK MPs have derided the Chinese government for its treatment @ @ @ @ @ @ @ s north , with an estimated 1m of the ethnic minority currently in internment camps .
China Chamber of Commerce in the UK chair Wenjian Fang told the Sunday Times that the actions of the UK government were “ not rational ” .
Fang is also the general manager of the Bank of China ’ s London branch .
“ If you continue to bar Chinese companies , the UK itself will suffer from lack of support or co-operation from China .
Chinese investor confidence will be heavily impacted…when the UK needs investment @ @ @ @ @ @ @ he said .
Read more : China urges US to stop ‘ arbitrary suppression of investments ’ “ They are prepared to make further big , substantial investment in the UK , but they are now waiting to see what decision the UK government is going to make .
“ Why do you close the door and send them away ?
”

China lobby tells UK: Embrace Beijing or ‘suffer’ business backlash
Many UK MPs have derided the Chinese government for its treatment of Uyghur Muslims in the country’s north, with an estimated 1m of the ethnic minority currently in internment camps.
The UK will lose billions of pounds in private sector investment if it does not reverse its growing hostility toward China, according to a pro-Beijing business lobby.
The China Chamber of Commerce in the UK – which counts Huawei, ZTE and Air China as members – warned that its members may rethink their future UK strategies unless there is a thawing of the Beijing-London relationship.
Its chair also warned that there could be backlash against UK companies that are popular in China, such as Jaguar Land Rover and Burberry.
The UK’s relationship with China has become frosty this year, after it banned Huawei from helping build the country’s 5G infrastructure and accused Beijing of breaching the Sino-British treaty on Hong Kong.
Boris Johnson also just introduced security legislation that could stop Chinese companies from building infrastructure in Britain.
Before the Open newsletter: Start your day with the City View podcast and key market data
In addition, many UK MPs have derided the Chinese government for its treatment of Uyghur Muslims in the country’s north, with an estimated 1m of the ethnic minority currently in internment camps.
China Chamber of Commerce in the UK chair Wenjian Fang told the Sunday Times that the actions of the UK government were “not rational”.
Fang is also the general manager of the Bank of China’s London branch.
“If you continue to bar Chinese companies, the UK itself will suffer from lack of support or co-operation from China. Chinese investor confidence will be heavily impacted…when the UK needs investment so much at this time,” he said.
“They are prepared to make further big, substantial investment in the UK, but they are now waiting to see what decision the UK government is going to make.
“Why do you close the door and send them away?”


cityam--2020-11-22--Rishi Sunak set to raise taxes in spring to pay off Covid debt bill

Rishi Sunak has signalled that he will raise taxes in the spring of next year to pay off the country ’ s Covid spending bill .
The chancellor told the Sunday Times today that by spring the conutry must start “ returning to sustainable public finances ” , after spending more than £200bn on the Covid crisis .
Read more : London business groups urge Sunak to give capital its fair share in spending review This year ’ s deficit is set to hit at least £350bn – 12-times higher than pre-Covid estimates .
Sunak has reportedly been at a @ @ @ @ @ @ @ , with the Prime Minister opposing future tax rises .
Johnson does not want to break “ the triple tax lock ” – an election promise to not to raise income tax , national insurance or VAT – with Sunak looking at instead hiking capital gains tax and reducing higher-rate pensions tax relief .
Before the Open newsletter : Start your day with the City View podcast and key market data Sunak joked with the Sunday Times that he should “ take [ Johnson ’ s ] credit card away ” .
When @ @ @ @ @ @ @ said : “ Once we get through [ the crisis ] , we ’ ll have to figure out what the best way of returning to sustainable public finances is .
“ I ’ m hopeful that by the spring , with positive news on both mass testing and vaccines , we can start to look forward.
” It comes as Sunak prepares to deliver the findings of the Treasury ’ s comprehensive spending review on Wednesday .
This will include £3bn of extra NHS spending for hospitals to address a backlog of @ @ @ @ @ @ @ reported that Sunak will announce the creation of a government-backed infrastructure bank to be set up in the north of England .
Read more : Rishi Sunak to unveil multi-billion pound spending boost in bid to woo regions The entity will fund infrastructure projects in the Midlands and the North as a part of the Tories ’ pledge to “ level up ” economically deprived parts of the country .
The spending review is expected to include billions of pounds of infrastructure spending as a part of this agenda .

Rishi Sunak set to raise taxes in spring to pay off Covid debt bill
Rishi Sunak has signalled that he will raise taxes in the spring of next year to pay off the country’s Covid spending bill.
The chancellor told the Sunday Times today that by spring the conutry must start “returning to sustainable public finances”, after spending more than £200bn on the Covid crisis.
This year’s deficit is set to hit at least £350bn – 12-times higher than pre-Covid estimates.
Sunak has reportedly been at a loggerheads with Boris Johnson about fiscal policy, with the Prime Minister opposing future tax rises.
Johnson does not want to break “the triple tax lock” – an election promise to not to raise income tax, national insurance or VAT – with Sunak looking at instead hiking capital gains tax and reducing higher-rate pensions tax relief.
Before the Open newsletter: Start your day with the City View podcast and key market data
Sunak joked with the Sunday Times that he should “take [Johnson’s] credit card away”.
When asked about potential tax rises, Sunak said: “Once we get through [the crisis], we’ll have to figure out what the best way of returning to sustainable public finances is.
“I’m hopeful that by the spring, with positive news on both mass testing and vaccines, we can start to look forward.”
It comes as Sunak prepares to deliver the findings of the Treasury’s comprehensive spending review on Wednesday.
This will include £3bn of extra NHS spending for hospitals to address a backlog of operations delayed by coronavirus.
Bloomberg also reported that Sunak will announce the creation of a government-backed infrastructure bank to be set up in the north of England.
The entity will fund infrastructure projects in the Midlands and the North as a part of the Tories’ pledge to “level up” economically deprived parts of the country.
The spending review is expected to include billions of pounds of infrastructure spending as a part of this agenda.


cityam--2020-11-22--City watchdog probes Airbnb ahead of New York float

The UK ’ s financial watchdog is investigating Airbnb over concerns about the tech firm ’ s anti-money laundering and counter-terrorist financing systems .
The Financial Conduct Authority last year called on UK electronic money institutions to review their compliance on safeguarding customer funds .
Airbnb Payments UK ( APUK ) told the City watchdog that it had identified gaps in its compliance and was undertaking action to fix the problems .
The FCA subsequently appointed a “ third-party skilled person ” to review APUK ’ s safeguarding controls , which “ identified certain issues with APUK ’ s anti-money @ @ @ @ @ @ @ .
Details of the probe came to light in the prospectus for Airbnb ’ s £22.6bn New York float , which is expected early next month .
The holiday rental company posted a loss of $ 697m ( £527m ) on revenue of $ 2.5bn in the nine months to the end of September , a widening of the $ 323m loss recorded in the same period last year .
The outbreak of coronavirus sparked a sharp downturn in Airbnb ’ s business in the first half of the year , with the @ @ @ @ @ @ @ the height of the crisis in the second quarter .
Airbnb was forced to cut a quarter of its workforce in May , suspend marketing activities for the year and seek $ 2bn in emergency funding from investors .
Read more : Airbnb suspends 800 party houses in crackdown on antisocial behaviour In the third quarter revenue was down 18 per cent at $ 1.3bn , but the company swung to a net profit of $ 219m after taking steps to slash costs .
“ The recovery in the second and third quarters @ @ @ @ @ @ @ ability and willingness for guests to travel , the resilience of our hosts , and relative strength of our business model , ” Airbnb said .

City watchdog probes Airbnb ahead of New York float
The UK’s financial watchdog is investigating Airbnb over concerns about the tech firm’s anti-money laundering and counter-terrorist financing systems.
The Financial Conduct Authority last year called on UK electronic money institutions to review their compliance on safeguarding customer funds.
Airbnb Payments UK (APUK) told the City watchdog that it had identified gaps in its compliance and was undertaking action to fix the problems.
The FCA subsequently appointed a “third-party skilled person” to review APUK’s safeguarding controls, which “identified certain issues with APUK’s anti-money laundering and counter terrorist financing systems”.
Details of the probe came to light in the prospectus for Airbnb’s £22.6bn New York float, which is expected early next month.
The holiday rental company posted a loss of $697m (£527m) on revenue of $2.5bn in the nine months to the end of September, a widening of the $323m loss recorded in the same period last year.
The outbreak of coronavirus sparked a sharp downturn in Airbnb’s business in the first half of the year, with the firm posting a $576m loss at the height of the crisis in the second quarter.
Airbnb was forced to cut a quarter of its workforce in May, suspend marketing activities for the year and seek $2bn in emergency funding from investors.
In the third quarter revenue was down 18 per cent at $1.3bn, but the company swung to a net profit of $219m after taking steps to slash costs.
“The recovery in the second and third quarters of 2020 is attributable to the renewed ability and willingness for guests to travel, the resilience of our hosts, and relative strength of our business model,” Airbnb said.


cityam--2020-11-22--Rishi Sunak confirms end of England Covid lockdown on 2 December

Rishi Sunak has confirmed England ’ s national Covid lockdown will end on 2 December and that the country will instead move into regionalised restrictions .
The chancellor said this morning that Boris Johnson will make an announcement tomorrow setting out the details of the post-lockdown Covid plan .
Read more : Government to set out post-lockdown plan next week A statement from Downing Street this morning said that the country will return to a three-tiered system , but that it will be stricter than previous iterations .
The statement said the three-tier system would be “ strengthened ” to @ @ @ @ @ @ @ period of national restrictions ” .
The Mail on Sunday reports that the 10pm hospitality curfew will be axed as a part of the new regime .
Speaking to the BBC , Sunak said : “ We will be going into a more localised approach , a tiered system , which I think is enormously welcomed .
“ We learn more as we go though this crisis and as we get more data , more information , we learn what works well and what doesn ’ t .
Before the Open newsletter : @ @ @ @ @ @ @ podcast and key market data “ A localised response is something that is entirely preferable and it ’ s something we ’ ll go back to after [ 2 December ] .
” The total number of Covid cases has started to flatten nationally , with deaths and hospitalisations expected to follow .
The seven-day average of daily cases was 21,290 yesterday , after previously hitting a high of 25,000 .
Case numbers have continued to rise in London , however there is an expectation by City Hall that this will soon turn @ @ @ @ @ @ @ calls from City banks for help chasing bad debts from Covid loans Figures released by City Hall showed there was 1,394 people hospitalised in London for Covid on Wednesday , which was up by 282 people from a week earlier .
Parts of the North West and North East continue to be the worst affected regions in England .

Rishi Sunak confirms end of England Covid lockdown on 2 December
A statement from Downing Street this morning said that the country will return to a three-tiered system, but that it will be stricter than previous iterations.
Rishi Sunak has confirmed England’s national Covid lockdown will end on 2 December and that the country will instead move into regionalised restrictions.
The chancellor said this morning that Boris Johnson will make an announcement tomorrow setting out the details of the post-lockdown Covid plan.
A statement from Downing Street this morning said that the country will return to a three-tiered system, but that it will be stricter than previous iterations.
The statement said the three-tier system would be “strengthened” to “safeguard the gains made during the period of national restrictions”.
The Mail on Sunday reports that the 10pm hospitality curfew will be axed as a part of the new regime.
Speaking to the BBC, Sunak said: “We will be going into a more localised approach, a tiered system, which I think is enormously welcomed.
“We learn more as we go though this crisis and as we get more data, more information, we learn what works well and what doesn’t.
Before the Open newsletter: Start your day with the City View podcast and key market data
“A localised response is something that is entirely preferable and it’s something we’ll go back to after [2 December].”
The total number of Covid cases has started to flatten nationally, with deaths and hospitalisations expected to follow.
The seven-day average of daily cases was 21,290 yesterday, after previously hitting a high of 25,000.
Case numbers have continued to rise in London, however there is an expectation by City Hall that this will soon turn around.
Figures released by City Hall showed there was 1,394 people hospitalised in London for Covid on Wednesday, which was up by 282 people from a week earlier.
Parts of the North West and North East continue to be the worst affected regions in England.


cityam--2020-11-22--Could anti-vaxxers be barred from offices, pubs and gyms?

Banning Covid vaccine refusers from offices , restaurants and other venues may lead to expensive discrimination claims , a leading lawyer has warned , even though it is not unlikely that care operators and the NHS may ultimately bar vaccine refusing staff for safety reasons .
With the UK moving closer to the rollout of a Coronavirus vaccine , to the delight of financial markets and the wider community , questions are being raised about those people who refuse to take the vaccine , the so-called anti-vaxxers .
A senior Tory MP , Tom Tugendhat , said last week he @ @ @ @ @ @ @ when people are refused entry into pubs and restaurants , and they may not be allowed to return to their work place until they have had the vaccine .
“ I can certainly see the day when businesses say : ‘ Look , you ’ ve got to return to the office and if you ’ re not vaccinated you ’ re not coming in ’ , ” the MP for Tonbridge , Edenbridge and Malling and current chair of the Foreign Affairs Committee , said .
Read more : Anti-vaxxers may be @ @ @ @ @ @ @ Tory MP However , a leading employment lawyer has hit back at Tugendhat ’ s suggestion , saying such actions could result in expensive discrimination claims .
Andrew Willis , head of legal at HR and employment law consultancy Croner , said whether employers would ultimately be able to ban people from coming into work who refuse to have the vaccine would ultimately be very case-specific .
“ There may be some industry sectors that may implement a requirement for its staff to have the vaccine for safety reasons.
” “ For example @ @ @ @ @ @ @ NHS , will likely want to reduce the chances of a further Covid outbreak in their workplaces and see the vaccine as a critical method for doing this , ” Willis said .
However , in workplaces that do not involve caring for vulnerable people , such as offices , hospitality or retail , it may be considerably more difficult to try and put in place such a restriction , he added .
Read more : Hospitality : 96,000 firms to close next year without reform to tier system Health secretary Matt Hancock @ @ @ @ @ @ @ be optional and children will not be forced to get a vaccination .
“ There could be several reasons why employees do not want to take the vaccine ; they may have been advised not to due to a pre-existing disability , or the prospect of taking it may be having a negative effect on their mental health , ” Birmingham-based Willis added .
“ If they are subjected to a detriment as a result of this , such as being told not to come into work or even dismissed , the company @ @ @ @ @ @ @ ” he added .
The debate around anti-vaxxers has intensified since the UK government has asked the NHS to be ready to deploy any Covid-19 vaccine from early next month .
This becomes increasingly a likely scenario following reports that vaccines from both Pfizer and Moderna are more than 95 % effective .
The UK government said earlier this month it is actively fighting anti-vaxxers .
Prime minister Boris Johnson revealed that money splurged by vaccine taskforce chief Kate Bingham on private PR companies was necessary to combat anti-vaccine conspiracy theories .
Johnson @ @ @ @ @ @ @ “ nuts “ , told the House of Commons that the spending was necessary to reassure people vaccines were safe and to encourage participation in trials .
“ The expenditure [ helps to ] raise awareness of vaccines , to fight the anti-vaxxers and to persuade the people of this country – 300,000 – to take part in trials without which we can ’ t have vaccines , ” Johnson told MPs .

Could anti-vaxxers be barred from offices, pubs and gyms?
The UK has formally kicked off its vaccination program, with thousands to receive the Pfizer vaccine today
Banning Covid vaccine refusers from offices, restaurants and other venues may lead to expensive discrimination claims, a leading lawyer has warned, even though it is not unlikely that care operators and the NHS may ultimately bar vaccine refusing staff for safety reasons.
With the UK moving closer to the rollout of a Coronavirus vaccine, to the delight of financial markets and the wider community, questions are being raised about those people who refuse to take the vaccine, the so-called anti-vaxxers.
A senior Tory MP, Tom Tugendhat, said last week he could “certainly see the day” when people are refused entry into pubs and restaurants, and they may not be allowed to return to their work place until they have had the vaccine.
“I can certainly see the day when businesses say: ‘Look, you’ve got to return to the office and if you’re not vaccinated you’re not coming in’,” the MP for Tonbridge, Edenbridge and Malling and current chair of the Foreign Affairs Committee, said.
Office ban
However, a leading employment lawyer has hit back at Tugendhat’s suggestion, saying such actions could result in expensive discrimination claims.
Andrew Willis, head of legal at HR and employment law consultancy Croner, said whether employers would ultimately be able to ban people from coming into work who refuse to have the vaccine would ultimately be very case-specific.
“There may be some industry sectors that may implement a requirement for its staff to have the vaccine for safety reasons.”
“For example, operators in care, or the NHS, will likely want to reduce the chances of a further Covid outbreak in their workplaces and see the vaccine as a critical method for doing this,” Willis said.
However, in workplaces that do not involve caring for vulnerable people, such as offices, hospitality or retail, it may be considerably more difficult to try and put in place such a restriction, he added.
Expensive claims
Health secretary Matt Hancock said last week that any vaccine will be optional and children will not be forced to get a vaccination.
“There could be several reasons why employees do not want to take the vaccine; they may have been advised not to due to a pre-existing disability, or the prospect of taking it may be having a negative effect on their mental health,” Birmingham-based Willis added.
“If they are subjected to a detriment as a result of this, such as being told not to come into work or even dismissed, the company may face a costly discrimination claim,” he added.
Vaccine debate
The debate around anti-vaxxers has intensified since the UK government has asked the NHS to be ready to deploy any Covid-19 vaccine from early next month. This becomes increasingly a likely scenario following reports that vaccines from both Pfizer and Moderna are more than 95% effective.
The UK government said earlier this month it is actively fighting anti-vaxxers. Prime minister Boris Johnson revealed that money splurged by vaccine taskforce chief Kate Bingham on private PR companies was necessary to combat anti-vaccine conspiracy theories.
Johnson, who has labelled vaccine refusers as “nuts“, told the House of Commons that the spending was necessary to reassure people vaccines were safe and to encourage participation in trials.
“The expenditure [helps to] raise awareness of vaccines, to fight the anti-vaxxers and to persuade the people of this country – 300,000 – to take part in trials without which we can’t have vaccines,” Johnson told MPs.


cityam--2020-11-23--Second national lockdown to drive Black Friday sales down 20 per cent

The introduction of a second national lockdown will push Black Friday sales down 20 per cent as consumers wait for shops to reopen to bag a bargain .
Nationwide Building Society predicted a drop off in spending on 27 November , compared to a previous forecast of a 12 per cent increase , due to the month-long lockdown .
Read more : Black Friday : Click and collect to boost retail park footfall as high streets suffer It would mark the first time the company has seen a year-on-year spending drop on what has become one of the biggest shopping @ @ @ @ @ @ @ Nationwide customers are still expected to make more than 6.5m transactions on Black Friday , with a value of around £224m , equalling nearly £155,000 a minute .
Research revealed that Brits will spend an average of £172m on Black Friday and £160m on Cyber Monday as they seek to make a saving in the run up to Christmas .
Nearly two thirds of consumers said they have delayed purchasing items in order to snap up a bargain on the discount day , with half using it as a chance to secure cut-price @ @ @ @ @ @ @ of physical stores 62 per cent of shoppers will buy online , citing ease , flexibility , discount codes and greater choice , alongside Covid-19 , as drivers behind the shift .
Additionally , 16 per cent of consumers said the requirement to wear a make had put them off shopping in store .
Mark Nalder , head of payments at Nationwide , said : “ Spending had begun to return back to normal levels in the weeks preceding the second lockdown .
“ As a result , we were expecting Black Friday @ @ @ @ @ @ @ margin of around 12 per cent .
Read more : Majority of Brits sceptical of Black Friday offers , survey shows “ However , tighter restrictions mean people are being understandably cautious and many , particularly those who enjoy getting to the shops and stores , will likely wait until stores are back open again before making their big pre-Christmas purchases meaning we expect the number of transactions to drop by up to 20 per cent on what we had previously forecast for this year .
”

Second national lockdown to drive Black Friday sales down 20 per cent
The introduction of a second national lockdown will push Black Friday sales down 20 per cent as consumers wait for shops to reopen to bag a bargain.
Nationwide Building Society predicted a drop off in spending on 27 November, compared to a previous forecast of a 12 per cent increase, due to the month-long lockdown.
It would mark the first time the company has seen a year-on-year spending drop on what has become one of the biggest shopping days of the year.
However, Nationwide customers are still expected to make more than 6.5m transactions on Black Friday, with a value of around £224m, equalling nearly £155,000 a minute.
Research revealed that Brits will spend an average of £172m on Black Friday and £160m on Cyber Monday as they seek to make a saving in the run up to Christmas.
Nearly two thirds of consumers said they have delayed purchasing items in order to snap up a bargain on the discount day, with half using it as a chance to secure cut-price Christmas gifts.
Due to the closure of physical stores 62 per cent of shoppers will buy online, citing ease, flexibility, discount codes and greater choice, alongside Covid-19, as drivers behind the shift.
Additionally, 16 per cent of consumers said the requirement to wear a make had put them off shopping in store.
Mark Nalder, head of payments at Nationwide, said: “Spending had begun to return back to normal levels in the weeks preceding the second lockdown.
“As a result, we were expecting Black Friday transactions to exceed last year by a margin of around 12 per cent.
“However, tighter restrictions mean people are being understandably cautious and many, particularly those who enjoy getting to the shops and stores, will likely wait until stores are back open again before making their big pre-Christmas purchases meaning we expect the number of transactions to drop by up to 20 per cent on what we had previously forecast for this year.”


cityam--2020-11-23--New office construction in central London plunges 50 per cent

New office construction in central London has plummeted by half over a six month period , according to the latest research , driven by a drop off in demand in the Square Mile .
Weak tenant demand was the biggest obstacle to kickstarting new projects during the period , as developers wait to assess employers ’ plans to return to the office after the coronavirus pandemic .
Read more : Vaccine could accelerate the return to the office , survey finds In the six months to 30 September , new office construction in the City of London was down 60 @ @ @ @ @ @ @ falling to 1.2m sq ft across 10 schemes .
In comparison , in the previous study there was 2.8m sq ft across 16 schemes underway in the capital ’ s financial district .
Just under half of the City ’ s new constriction starts are available to let , suggesting a lower appetite for speculative development , according to a survey by professional services firm Deloitte .
The total office space being developed in central London is now 15.1m sq ft , similar to the level recorded in the previous survey as developments @ @ @ @ @ @ @ However , experts said that recent positive vaccine results could spark a comeback for the office sector .
Mike Cracknell , director at Deloitte Real Estate , said : “ Our data reveals that 3.3m sq ft of office construction was not completed as scheduled between April and September and remains under construction .
“ Had these projects completed on time , the total volume under construction would be almost a quarter lower.
” Read more : Vaccine could accelerate the return to the office , survey finds Cracknell added : “ Of @ @ @ @ @ @ @ majority – 85 per cent – pointed to weak tenant demand as the major obstacle to starting any new development .
Until there is more clarity about occupiers ’ office plans , developers will hesitate to embark on new projects , particularly speculative ones .
“ Nonetheless , the news about vaccines has already resulted in a re-rating of real estate stocks , and may see both a bigger shift back to the office in the short term , and a strengthening of investor demand in London offices over the medium term .
@

New office construction in central London plunges 50 per cent
Capita has also bagged hefty contracts this year with the Royal Navy Training, worth £925m, the extension of a European telecoms client valued at £528m and another £58m contract for Tesco Mobile.
New office construction in central London has plummeted by half over a six month period, according to the latest research, driven by a drop off in demand in the Square Mile.
Weak tenant demand was the biggest obstacle to kickstarting new projects during the period, as developers wait to assess employers’ plans to return to the office after the coronavirus pandemic.
In the six months to 30 September, new office construction in the City of London was down 60 per cent compared to last year, falling to 1.2m sq ft across 10 schemes.
In comparison, in the previous study there was 2.8m sq ft across 16 schemes underway in the capital’s financial district.
Just under half of the City’s new constriction starts are available to let, suggesting a lower appetite for speculative development, according to a survey by professional services firm Deloitte.
The total office space being developed in central London is now 15.1m sq ft, similar to the level recorded in the previous survey as developments are now taking longer to complete.
However, experts said that recent positive vaccine results could spark a comeback for the office sector.
Mike Cracknell, director at Deloitte Real Estate, said: “Our data reveals that 3.3m sq ft of office construction was not completed as scheduled between April and September and remains under construction.
“Had these projects completed on time, the total volume under construction would be almost a quarter lower.”
Cracknell added: “Of the developers we surveyed, a clear majority – 85 per cent – pointed to weak tenant demand as the major obstacle to starting any new development. Until there is more clarity about occupiers’ office plans, developers will hesitate to embark on new projects, particularly speculative ones.
“Nonetheless, the news about vaccines has already resulted in a re-rating of real estate stocks, and may see both a bigger shift back to the office in the short term, and a strengthening of investor demand in London offices over the medium term.”


cityam--2020-11-23--Global dividends start to make a tentative recovery

With the impact of the pandemic still lingering , global dividends have dipped again this quarter although there are encouraging signs the worst is now over for investors .
Payouts in the third quarter dipped fell by $ 55bn to $ 329.8bn , the lowest since 2016 , according to Janus Henderson ’ s latest dividend tracker .
Read more : Bank of England considering to permit banks to restart dividend payments next year The 11 per cent decline was less severe than in the previous quarter in part due to seasonal patterns emphasising parts of the world where payouts @ @ @ @ @ @ @ shows that , with more than two thirds of companies increasing dividends , the worst has passed .
Jane Shoemake , Investment Director for Global Equity Income at Janus Henderson said : “ The loss of $ 224bn in dividend income from around the world in 2020 is nothing to celebrate , but we have been encouraged by how resilient payouts have been in many parts of the world ” .
China , Hong Kong and Canada were among the few countries with higher dividends .
The third quarter is China ’ s @ @ @ @ @ @ @ per cent with three quarters of firms raising payouts or holding them steady .
The weakest results came from the UK , Australia and the Netherlands .
Australian dividends have been among the hardest hit , falling 40.3 per cent with cuts from the banks having the biggest impact , while UK dividends plunged 41.6 per cent .
The worst declines across the quarter unsurprisingly came from consumer discretionary terms , down 43 per cent , and car manufacturers making some of the deepest cuts .
Read more : Global dividends plunge to @ @ @ @ @ @ @ the market fallout in April , Hanus Henderson could fall as much as 35 per cent this year .
It has now revised its forecast with a best case scenario of a 17.5 per cent drop for the year .
The worst case scenario would see a 20.2 per cent fall in payouts to $ 1.16 trillion .
“ In 2021 Q1 will still be affected by reductions , but then things should pick up ” , Shoemake said .
“ The big question mark is over the decisions the regulators in the @ @ @ @ @ @ @ around banking payouts .
And of course , so much depends on the pandemic and the severity and duration of any further lockdowns .
”

Global dividends start to make a tentative recovery
With the impact of the pandemic still lingering, global dividends have dipped again this quarter although there are encouraging signs the worst is now over for investors.
Payouts in the third quarter dipped fell by $55bn to $329.8bn, the lowest since 2016, according to Janus Henderson’s latest dividend tracker.
The 11 per cent decline was less severe than in the previous quarter in part due to seasonal patterns emphasising parts of the world where payouts have held up. But it also shows that, with more than two thirds of companies increasing dividends, the worst has passed.
Jane Shoemake, Investment Director for Global Equity Income at Janus Henderson said: “The loss of $224bn in dividend income from around the world in 2020 is nothing to celebrate, but we have been encouraged by how resilient payouts have been in many parts of the world”.
China, Hong Kong and Canada were among the few countries with higher dividends. The third quarter is China’s big dividend season — payouts increased 3.3 per cent with three quarters of firms raising payouts or holding them steady.
The weakest results came from the UK, Australia and the Netherlands. Australian dividends have been among the hardest hit, falling 40.3 per cent with cuts from the banks having the biggest impact, while UK dividends plunged 41.6 per cent.
The worst declines across the quarter unsurprisingly came from consumer discretionary terms, down 43 per cent, and car manufacturers making some of the deepest cuts.
In the midst of the market fallout in April, Hanus Henderson could fall as much as 35 per cent this year. It has now revised its forecast with a best case scenario of a 17.5 per cent drop for the year. The worst case scenario would see a 20.2 per cent fall in payouts to $1.16 trillion.
“In 2021 Q1 will still be affected by reductions, but then things should pick up”, Shoemake said. “The big question mark is over the decisions the regulators in the UK, Europe and Australia will make around banking payouts. And of course, so much depends on the pandemic and the severity and duration of any further lockdowns.”


cityam--2020-11-23--Boom or bust: Radio veterans take on BBC with new baby boomer station

Two radio industry heavyweights are launching a new station aimed at baby boomers as they look to tap into a generation of older listeners “ left behind ” by the BBC .
Boom Radio will launch across the UK early next year , bringing a mix of music and conversation to the country ’ s roughly 14m boomers aged 55 and older .
Read more : Radio listening surges in second lockdown as Brits work from home The station promises a playlist of boomer classics from across the decades including the Beatles , Tom Jones and Abba , as well @ @ @ @ @ @ @ Adele and George Ezra .
In addition to music , Boom Radio will offer a range of speech programming such as gardening shows and book reviews , though it is expected to steer clear of overly political subjects .
The venture is being launched by industry veterans Phil Riley and David Lloyd .
As chief executive of Chrysalis Radio , Riley masterminded the launch of Heart FM before overseeing the group ’ s sale to Global in 2007 .
Lloyd has four decades ’ experience as a presenter and executive at stations including @ @ @ @ @ @ @ amid growing discontent among older Brits that the BBC — and its commercial rivals — are trying to target younger audiences at the expense of the boomer generation .
“ We want to step on the toes of Radio 2 , ” Riley told City A.M. “ Our view is that Radio 2 is almost relentlessly being dragged younger , so that they can appeal to people over the age of 30.
” As a result , the radio boss said there was a gap in the market .
“ We think there @ @ @ @ @ @ @ a radio station that just targets them , ” he said .
Riley added that the new station will also look to capitalise on the relative affluence of boomers — a demographic previously considered unattractive for advertisers .
Read more : News UK set to cut jobs in radio and newspaper Boom Radio is the latest new venture aimed at challenging the dominance of the BBC and cashing in on surging listener numbers .
Earlier this year Rupert Murdoch ’ s News UK launched Times Radio , a new talk station that has @ @ @ @ @ @ @ BBC ’ s flagship Radio 4 .
A string of top presenters have moved to the new station , while Virgin Radio this week poached Graham Norton from Radio 2 .
Boom Radio is not set to announce its full line-up of presenters until January , but it is expected to call up a string of high-profile radio DJs who rose to prominence in the 70s and 80s , but have since taken a step back from the spotlight .
Bosses will also look to harness social media to distribute clips from its @ @ @ @ @ @ @ such as LBC and Talk Radio .
However , it is likely to focus on social media sites favoured by boomers , such as Facebook .
Boss Riley said the station would not invest in costly studios , but would operate largely on a remote basis .
“ We ’ re taking advantage of what ’ s been happening in lockdown to completely rethink how you run a radio station , ” he said .
“ For us , the fact that the industry has proved that presenters can work from home… we @ @ @ @ @ @ @ we said to ourselves ‘ that ’ s probably a fantastic model ’ .
” The station is set to operate with a roster of around 12 presenters , with a similar number of staff employed in sales and production .
Boom Radio will initially launch on DAB in London , Bristol , Birmingham and Glasgow , with rollout to additional cities expected later in 2021 .
The station will also be available online and through smart speakers and apps .

Boom or bust: Radio veterans take on BBC with new baby boomer station
Radio industry veteran Phil Riley is leading the launch of Boom Radio
Two radio industry heavyweights are launching a new station aimed at baby boomers as they look to tap into a generation of older listeners “left behind” by the BBC.
Boom Radio will launch across the UK early next year, bringing a mix of music and conversation to the country’s roughly 14m boomers aged 55 and older.
The station promises a playlist of boomer classics from across the decades including the Beatles, Tom Jones and Abba, as well as favourites from contemporary artists such as Adele and George Ezra.
In addition to music, Boom Radio will offer a range of speech programming such as gardening shows and book reviews, though it is expected to steer clear of overly political subjects.
The venture is being launched by industry veterans Phil Riley and David Lloyd. As chief executive of Chrysalis Radio, Riley masterminded the launch of Heart FM before overseeing the group’s sale to Global in 2007. Lloyd has four decades’ experience as a presenter and executive at stations including LBC and Virgin.
The launch comes amid growing discontent among older Brits that the BBC — and its commercial rivals — are trying to target younger audiences at the expense of the boomer generation.
“We want to step on the toes of Radio 2,” Riley told City A.M. “Our view is that Radio 2 is almost relentlessly being dragged younger, so that they can appeal to people over the age of 30.”
As a result, the radio boss said there was a gap in the market. “We think there’s an appetite among over-60s for a radio station that just targets them,” he said.
Riley added that the new station will also look to capitalise on the relative affluence of boomers — a demographic previously considered unattractive for advertisers.
‘Left behind’ by the BBC
Boom Radio is the latest new venture aimed at challenging the dominance of the BBC and cashing in on surging listener numbers.
Earlier this year Rupert Murdoch’s News UK launched Times Radio, a new talk station that has been positioned as a rival to the BBC’s flagship Radio 4.
A string of top presenters have moved to the new station, while Virgin Radio this week poached Graham Norton from Radio 2.
Boom Radio is not set to announce its full line-up of presenters until January, but it is expected to call up a string of high-profile radio DJs who rose to prominence in the 70s and 80s, but have since taken a step back from the spotlight.
Bosses will also look to harness social media to distribute clips from its shows — a growing trend among stations such as LBC and Talk Radio. However, it is likely to focus on social media sites favoured by boomers, such as Facebook.
Boss Riley said the station would not invest in costly studios, but would operate largely on a remote basis.
“We’re taking advantage of what’s been happening in lockdown to completely rethink how you run a radio station,” he said.
“For us, the fact that the industry has proved that presenters can work from home… we took that as a great sign and we said to ourselves ‘that’s probably a fantastic model’.”
The station is set to operate with a roster of around 12 presenters, with a similar number of staff employed in sales and production.
Boom Radio will initially launch on DAB in London, Bristol, Birmingham and Glasgow, with rollout to additional cities expected later in 2021. The station will also be available online and through smart speakers and apps.


cityam--2020-11-22--Tory mayoral candidate pledges to build 100,000 homes for young Londoners

Young Londoners will be able to buy new homes for £100,000 in the capital with a deposit of just £5,000 if Tory mayor candidate Shaun Bailey is elected next year .
Bailey will announce tomorrow that if victorious in the May poll that he will build 100,000 “ Millennial homes ” that can only be bought by young Londoners .
Read more : Shaun Bailey accuses Sadiq Khan of wasting nearly £10bn of TfL cash They will all be “ shared ownership ” properties , where up to 10 people can buy a share in the newly built homes .
@ @ @ @ @ @ @ announcement in Erith , South East London .
He is expected to say : “ The overwhelming majority of Londoners want to own a home and the mayor of London ’ s job is to help make that happen .
Before the Open newsletter : Start your day with the City View podcast and key market data “ But over the last four years , Sadiq Khan mostly built homes for renting , not buying — locking a generation of Londoners into rented accommodation , unable to save for a deposit .
“ @ @ @ @ @ @ @ , I ’ ll fund the construction of 100,000 millennial homes to be sold at £100,000 each.
” Bailey is expected to say that the policy is “ personal ” for him .
Read more : Exclusive : Sadiq Khan ’ s PR budget soars by 33 per cent in four years “ I spent parts of my twenties homeless , wondering whether I ’ d ever get on the housing ladder , ” he will say .
“ Shared Ownership was the first step on the housing ladder for me and my @ @ @ @ @ @ @ the same opportunity too .
”

Tory mayoral candidate pledges to build 100,000 homes for young Londoners
Shaun Bailey will announce tomorrow that if victorious in the May poll that he will build 100,000 “Millennial homes” that can only be bought by young Londoners.
Young Londoners will be able to buy new homes for £100,000 in the capital with a deposit of just £5,000 if Tory mayor candidate Shaun Bailey is elected next year.
Bailey will announce tomorrow that if victorious in the May poll that he will build 100,000 “Millennial homes” that can only be bought by young Londoners.
They will all be “shared ownership” properties, where up to 10 people can buy a share in the newly built homes.
The Tory mayoral candidate will make the announcement in Erith, South East London.
He is expected to say: “The overwhelming majority of Londoners want to own a home and the mayor of London’s job is to help make that happen.
Before the Open newsletter: Start your day with the City View podcast and key market data
“But over the last four years, Sadiq Khan mostly built homes for renting, not buying — locking a generation of Londoners into rented accommodation, unable to save for a deposit.
“So during my first term as Mayor, I’ll fund the construction of 100,000 millennial homes to be sold at £100,000 each.”
Bailey is expected to say that the policy is “personal” for him.
“I spent parts of my twenties homeless, wondering whether I’d ever get on the housing ladder,” he will say.
“Shared Ownership was the first step on the housing ladder for me and my priority is to give more young people the same opportunity too.”


cityam--2020-11-22--Bubbles and baubles: UK Covid restrictions set to be lifted for Chistmas

The government is set to lift Covid restrictions on Christmas eve to allow for up to four households to form holiday bubbles .
People in the four-household bubble will be able to interact indoors anywhere , including in pubs and restaurants .
Read more : In pictures : Westminster gets festive as parliament unveils Christmas tree Downing Street has reportedly been in touch with the devolved governments of Wales , Northern Ireland and Scotland about the plan to ensure it is UK-wide .
The Sun reports that the Christmas changes will last until 28 December and that regions will then @ @ @ @ @ @ @ of the year .
The plan reportedly includes the caveat that social distancing restrictions must continue , meaning that Christmas hugs across households are banned .
Before the Open newsletter : Start your day with the City View podcast and key market data A statement from the Cabinet Office said : “ Ministers reiterated the importance of allowing families and friends to meet in a careful and limited way , while recognising that this will not be a normal festive period and the risks of transmission remain very real .
“ As such @ @ @ @ @ @ @ facilitating some limited additional household bubbling for a small number of days , but also emphasised that the public will be advised to remain cautious , and that wherever possible people should avoid travelling and minimise social contact.
” They added : “ In respect of Northern Ireland , Ministers also recognised that people will want to see family and friends across the island of Ireland , and this is the subject of discussions with the Irish Government.
” It comes as Boris Johnson prepares to make an announcement tomorrow setting out the @ @ @ @ @ @ @ Read more : Rishi Sunak confirms end of England Covid lockdown on 2 December Lockdown will end on 2 December and England will move back into a regionalised approach .
A statement from Downing Street this morning said that the country will return to a three-tiered system , but that it will be stricter than previous iterations .
The statement said the three-tier system would be “ strengthened ” to “ safeguard the gains made during the period of national restrictions ” .

Bubbles and baubles: UK Covid restrictions set to be lifted for Chistmas
Christmas lights hang on a side street of Oxford Street on November 19
The government is set to lift Covid restrictions on Christmas eve to allow for up to four households to form holiday bubbles.
People in the four-household bubble will be able to interact indoors anywhere, including in pubs and restaurants.
Downing Street has reportedly been in touch with the devolved governments of Wales, Northern Ireland and Scotland about the plan to ensure it is UK-wide.
The Sun reports that the Christmas changes will last until 28 December and that regions will then re-enter tiered Covid restrictions for the rest of the year.
The plan reportedly includes the caveat that social distancing restrictions must continue, meaning that Christmas hugs across households are banned.
Before the Open newsletter: Start your day with the City View podcast and key market data
A statement from the Cabinet Office said: “Ministers reiterated the importance of allowing families and friends to meet in a careful and limited way, while recognising that this will not be a normal festive period and the risks of transmission remain very real.
“As such, ministers endorsed a shared objective of facilitating some limited additional household bubbling for a small number of days, but also emphasised that the public will be advised to remain cautious, and that wherever possible people should avoid travelling and minimise social contact.”
They added: “In respect of Northern Ireland, Ministers also recognised that people will want to see family and friends across the island of Ireland, and this is the subject of discussions with the Irish Government.”
It comes as Boris Johnson prepares to make an announcement tomorrow setting out the details of the post-lockdown Covid plan.
Lockdown will end on 2 December and England will move back into a regionalised approach.
A statement from Downing Street this morning said that the country will return to a three-tiered system, but that it will be stricter than previous iterations.
The statement said the three-tier system would be “strengthened” to “safeguard the gains made during the period of national restrictions”.


cityam--2020-11-22--JP Morgan pushes ahead with UK digital bank plans

US investment bank JP Morgan has reportedly promoted one of its top London employees to spearhead the launch of its digital consumer platform in the UK .
It has appointed Sanoke Viswavathan , previously chief administrative officer of technology and operations in its corporate and investment division , as the chief executive of its challenger bank .
Read more : Deliveroo taps JP Morgan as it steps up London float preparations The company secured regulatory approval to launch its UK digital banking venue in the UK .
It currently operates in the US consumer banking market as Chase , and @ @ @ @ @ @ @ early next year , according to the Telegraph .
In August it was reported that JP Morgan had appointed suppliers to provide cloud and digital banking infrastructure , including Amazon Web Services and 10x Future Technologies .
The investment bank declined to comment at the time , and has not yet officially confirmed the existence of the UK personal banking project .
A move into digital banking would allow the US giant to capture some of the millions of customers that have transferred from high street branches to online services during the coronavirus @ @ @ @ @ @ @ launch under the Chase brand , is expected to be chaired by former Financial Conduct Authority executive Clive Adamson .
Read more : Top English clubs and JP Morgan ‘ in talks ’ over $ 6bn European super league Adamson left the FCA in 2015 , and has since held various non-executive roles at JP Morgan , including chair of its international business and non-executive director of JP Morgan Securities .
In 2018 the firm launched digital bank Finn in an attempt to enter the consumer banking market , however it was shuttered @ @ @ @ @ @ @ customers .
City A.M. has contacted JP Morgan for comment .

JP Morgan pushes ahead with UK digital bank plans
US investment bank JP Morgan has reportedly promoted one of its top London employees to spearhead the launch of its digital consumer platform in the UK.
It has appointed Sanoke Viswavathan, previously chief administrative officer of technology and operations in its corporate and investment division, as the chief executive of its challenger bank.
The company secured regulatory approval to launch its UK digital banking venue in the UK.
It currently operates in the US consumer banking market as Chase, and is preparing to launch in the UK early next year, according to the Telegraph.
In August it was reported that JP Morgan had appointed suppliers to provide cloud and digital banking infrastructure, including Amazon Web Services and 10x Future Technologies.
The investment bank declined to comment at the time, and has not yet officially confirmed the existence of the UK personal banking project.
A move into digital banking would allow the US giant to capture some of the millions of customers that have transferred from high street branches to online services during the coronavirus pandemic.
The bank, which will launch under the Chase brand, is expected to be chaired by former Financial Conduct Authority executive Clive Adamson.
Adamson left the FCA in 2015, and has since held various non-executive roles at JP Morgan, including chair of its international business and non-executive director of JP Morgan Securities.
In 2018 the firm launched digital bank Finn in an attempt to enter the consumer banking market, however it was shuttered a year later after struggling to recruit customers.
City A.M. has contacted JP Morgan for comment.


cityam--2020-11-22--Matt Hancock hired close friend as Health Department adviser

Health secretary Matt Hancock appointed a close friend , who works as a high profile lobbyist , to a £15,000-a-year government role , it has been revealed .
Hancock failed to declare that he had given university pal Gina Coladangelo , 42 , an unpaid paid advisory role and then later appointed her to the board of the Department of Health and Social Care – a paid position .
Read more : Lobbyists given access to confidential government Covid briefings Coladangelo is a director at lobbying firm Luther Pendragon and also as communications director at fashion company Oliver Bonas .
@ @ @ @ @ @ @ of Oxford and have remained close in the years since .
The Sunday Times revealed Coladangelo ’ s appointments today , with one source close to Hancock saying that Coldangelo is one of the health secretary ’ s closest allies .
“ Before Matt does anything big , he ’ ll speak to Gina .
She knows everything , ” they said .
Another added : “ She has access to lots of confidential information.
” Before the Open newsletter : Start your day with the City View podcast and key market data @ @ @ @ @ @ @ rocked by a number of stories recently about a so-called Tory “ chumocracy ” , with friends of ministers advised to public sector roles .
Last week the Sunday Times revealed that former Sun political editor and influential lobbyist George Pascoe-Watson had been given access to high-level Department of Health Covid briefings .
Pascoe-Watson sent emails to his clients twice detailing changes to government coronavirus restrictions .
Read more : Cronyism and incompetence : The government is undermining trust in the private sector Deputy Labour leader Angela Rayner has called for an inquiry @ @ @ @ @ @ @ serve as government advisers .
“ The public need answers now , ” she said .

Matt Hancock hired close friend as Health Department adviser
Matt Hancock failed to declare that he had given university pal Gina Coladangelo, 42, an unpaid paid advisory role and then later appointed her to the board of the Department of Health – a paid position.
Health secretary Matt Hancock appointed a close friend, who works as a high profile lobbyist, to a £15,000-a-year government role, it has been revealed.
Hancock failed to declare that he had given university pal Gina Coladangelo, 42, an unpaid paid advisory role and then later appointed her to the board of the Department of Health and Social Care – a paid position.
Coladangelo is a director at lobbying firm Luther Pendragon and also as communications director at fashion company Oliver Bonas.
The pair met while at the University of Oxford and have remained close in the years since.
The Sunday Times revealed Coladangelo’s appointments today, with one source close to Hancock saying that Coldangelo is one of the health secretary’s closest allies.
“Before Matt does anything big, he’ll speak to Gina. She knows everything,” they said.
Another added: “She has access to lots of confidential information.”
Before the Open newsletter: Start your day with the City View podcast and key market data
It comes as the government has been rocked by a number of stories recently about a so-called Tory “chumocracy”, with friends of ministers advised to public sector roles.
Last week the Sunday Times revealed that former Sun political editor and influential lobbyist George Pascoe-Watson had been given access to high-level Department of Health Covid briefings.
Pascoe-Watson sent emails to his clients twice detailing changes to government coronavirus restrictions.
Deputy Labour leader Angela Rayner has called for an inquiry into how professional lobbyists are allowed to serve as government advisers.
“The public need answers now,” she said.


cityam--2020-11-22--Brexit: London Lord Mayor says government ignored City of London in negotiations

The government has neglected the City of London in Brexit negotiations , according to the Lord Mayor of London .
Lord Mayor William Russel , a former investment banker , said he had been disappointed by the government ’ s approach and that it had “ missed the point ” of the City of London .
Read more : Brexit negotiations to continue remotely following positive Covid case Russell is the 692nd Lord Mayor and acts as ceremonial head of the powerful City of London Corporation – an historic local authority .
It was revealed by City A.M. weeks ago @ @ @ @ @ @ @ lose their current EU access on 1 January , with Brussels not planning on extending their “ equivalence ” arrangements with European markets .
This means UK financial services firms will have to rely on a patchwork of regulations that are mandated by individual EU countries , making it very difficult for major firms to operate throughout the bloc .
Many firms have already prepared for this possibility , with major banks setting up bases in EU cities such as Frankfurt .
Before the Open newsletter : Start your day with the City @ @ @ @ @ @ @ EU ’ s decision to not grant equivalence will be a serious blow for the City of London , which wanted a fresh EU-wide deal since the UK exports around £26bn of financial services to the EU annually .
Russell told the Sunday Telegraph that he was disappointed that industries such as fishing , which accounts for a tiny percentage of annual GDP , were the most discussed in negotiations .
The financial services sector makes up around 7 per cent of UK ’ s GDP annually .
“ They probably look at @ @ @ @ @ @ @ going to be all right ’ , but I think that they ’ re missing the point because we ’ re such a critical part of what we have in the UK , ” Russell said .
Shadow chancellor Anneliese Dodds this week hit out at the government for being unable to secure a long-term deal for the UK ’ s financial services sector post-Brexit .
Read more : Labour ’ s Anneliese Dodds extends public olive branch to City of London Dodds said the government should have sorted out this issue long @ @ @ @ @ @ @ been a part of negotiations in UK-EU trade talks .
A Treasury spokesperson said : “ By bolstering the dynamism , openness and competitiveness of the sector , we will ensure the UK moves forward as an attractive and well-regulated market , leading the world in pioneering new technologies and shifting finance towards a net zero future .
”

Brexit: London Lord Mayor says government ignored City of London in negotiations
William Russell is the 692nd Lord Mayor and acts as ceremonial head of the powerful City of London Corporation – an historic local authority.
The government has neglected the City of London in Brexit negotiations, according to the Lord Mayor of London.
Lord Mayor William Russel, a former investment banker, said he had been disappointed by the government’s approach and that it had “missed the point” of the City of London.
Russell is the 692nd Lord Mayor and acts as ceremonial head of the powerful City of London Corporation – an historic local authority.
It was revealed by City A.M. weeks ago that Square Mile firms were set to lose their current EU access on 1 January, with Brussels not planning on extending their “equivalence” arrangements with European markets.
This means UK financial services firms will have to rely on a patchwork of regulations that are mandated by individual EU countries, making it very difficult for major firms to operate throughout the bloc.
Many firms have already prepared for this possibility, with major banks setting up bases in EU cities such as Frankfurt.
Before the Open newsletter: Start your day with the City View podcast and key market data
The EU’s decision to not grant equivalence will be a serious blow for the City of London, which wanted a fresh EU-wide deal since the UK exports around £26bn of financial services to the EU annually.
Russell told the Sunday Telegraph that he was disappointed that industries such as fishing, which accounts for a tiny percentage of annual GDP, were the most discussed in negotiations.
The financial services sector makes up around 7 per cent of UK’s GDP annually.
“They probably look at us and say ‘they’re going to be all right’, but I think that they’re missing the point because we’re such a critical part of what we have in the UK,” Russell said.
Shadow chancellor Anneliese Dodds this week hit out at the government for being unable to secure a long-term deal for the UK’s financial services sector post-Brexit.
Dodds said the government should have sorted out this issue long ago and that financial services should have been a part of negotiations in UK-EU trade talks.
A Treasury spokesperson said: “By bolstering the dynamism, openness and competitiveness of the sector, we will ensure the UK moves forward as an attractive and well-regulated market, leading the world in pioneering new technologies and shifting finance towards a net zero future.”


cityam--2020-11-22--Government to scrap 10pm hospitality curfew

The government is expected to scrap the 10pm curfew for hospitality businesses when the current UK-wide lockdown ends .
The Prime Minister is reportedly planning to extend pub and restaurant opening hours until 11pm when restrictions are eased on 2 December .
Read more : Keir Starmer backs call to end 10pm pub and restaurant curfew Last orders will still be called at 10pm but customers will be given an extra hour to finish drinks and food , in an attempt to prevent post-closing time crowds , according to the Mail on Sunday .
The hospitality industry has repeatedly called @ @ @ @ @ @ @ arguing that the sector has been unfairly targeted .
There were also concerns that the 10pm curfew led to crowds on streets and public transport , which could have caused coronavirus to spread .
Reacting to reports that the curfew will be extended , a spokesperson for the mayor of London said “ shifting the curfew back an hour fails to address the issue of people crowding in the streets and onto public transport and risks undoing the good work done over lockdown.
” “ Sadiq has repeatedly urged the government to scrap @ @ @ @ @ @ @ ends to support our bars and restaurants , ” they said .
“ The leaked proposal of 10pm last orders once again shows the government lacks knowledge of how to run a hospitality business according to best practice .
“ Staggered closing times are essential to keep Londoners – and our economy – healthy.
” Industry bodies had previously warned that 96,000 hospitality firms could become unviable and close next year without changes to the coronavirus tier system .
A survey of British Beer & Pub Association , British Institute of Innkeeping and @ @ @ @ @ @ @ cent of firms expect to become unviable and close in 2021 .
Read more : Revolution Bars to close six sites as sales plunge due to coronavirus 10pm curfew Firms said the tiering system that was in place before the latest England-wide lockdown was particularly damaging for the sector , and demanded more support , including larger grants , from the government .
They called on the government to adapt the restrictions when the full lockdown is lifted , which is expected to happen on 2 December , by relaxing the ban on @ @ @ @ @ @ @ .

Government to scrap 10pm hospitality curfew
The government is expected to scrap the 10pm curfew for hospitality businesses when the current UK-wide lockdown ends.
The Prime Minister is reportedly planning to extend pub and restaurant opening hours until 11pm when restrictions are eased on 2 December.
Last orders will still be called at 10pm but customers will be given an extra hour to finish drinks and food, in an attempt to prevent post-closing time crowds, according to the Mail on Sunday.
The hospitality industry has repeatedly called for the curfew to be axed, arguing that the sector has been unfairly targeted.
There were also concerns that the 10pm curfew led to crowds on streets and public transport, which could have caused coronavirus to spread.
Reacting to reports that the curfew will be extended, a spokesperson for the mayor of London said “shifting the curfew back an hour fails to address the issue of people crowding in the streets and onto public transport and risks undoing the good work done over lockdown.”
“Sadiq has repeatedly urged the government to scrap the curfew altogether when the national lockdown ends to support our bars and restaurants,” they said.
“The leaked proposal of 10pm last orders once again shows the government lacks knowledge of how to run a hospitality business according to best practice.
“Staggered closing times are essential to keep Londoners – and our economy – healthy.”
Industry bodies had previously warned that 96,000 hospitality firms could become unviable and close next year without changes to the coronavirus tier system.
A survey of British Beer & Pub Association, British Institute of Innkeeping and UK Hospitality members found that 72 per cent of firms expect to become unviable and close in 2021.
Firms said the tiering system that was in place before the latest England-wide lockdown was particularly damaging for the sector, and demanded more support, including larger grants, from the government.
They called on the government to adapt the restrictions when the full lockdown is lifted, which is expected to happen on 2 December, by relaxing the ban on households mixing and extending the 10pm curfew.


cityam--2020-11-23--Boris Johnson tells officials there is 'no place for bullying' in government

Boris Johnson has told officials today that there is “ no place for bullying ” in government in a bid to calm tensions after a report found Priti Patel had bullied civil servants .
Johnson wrote to cabinet ministers and top civil servants today to say ministers had a “ duty ” to stop bullying , while also stressing the importance of keeping “ internal conversations private ” .
Read more : Bullying inquiry head quits as Johnson sides with Patel Sir Alex Allan , the man who led the inquiry into Patel ’ s behaviour , quit his role @ @ @ @ @ @ @ adviser last week when Johnson did not sack the home secretary .
The Prime Minister also reportedly tried to tone down the independent report .
Allan found Patel had “ not consistently met the high standards required by the Ministerial Code ” and that her “ approach on occasions has amounted to behaviour that can be described as bullying ” .
This is a breach of the Ministerial Code .
The home secretary gave an apology of sorts for her actions , saying she was sorry if civil servants were offended by her @ @ @ @ @ @ @ .
Johnson reportedly told MPs last week that they needed to protect the home secretary by forming “ a square around the Prittster ” .
Reuters reports that Johnson today told ministers : “ Given the unprecedented challenges we currently face as a nation , relationships of mutual trust and respect between politicians and their officials are paramount .
This includes keeping internal conversations private , ” he wrote in the letter .
“ There is a particular duty on ministers and permanent secretaries to create jointly across government a culture which is @ @ @ @ @ @ @ for change in which there is no place for bullying.
” The Patel report was launched after Philip Rutnam , then permanent secretary of the Home Office , was forced from his job in February and annnounced he was suing the government for unfair dismissal .
Read more : Boris Johnson set to only warn Priti Patel over bullying claims Rutnam said Patel had helped wage a “ vicious and orchestrated campaign ” against him through a series of Fleet Street leaks .
The inquiry was held up by Downing Street for months @ @ @ @ @ @ @ Mark Sedwill .

Boris Johnson tells officials there is ‘no place for bullying’ in government
Priti Patelhas been known to take a spin on the Border Force boat
Boris Johnson has told officials today that there is “no place for bullying” in government in a bid to calm tensions after a report found Priti Patel had bullied civil servants.
Johnson wrote to cabinet ministers and top civil servants today to say ministers had a “duty” to stop bullying, while also stressing the importance of keeping “internal conversations private”.
Sir Alex Allan, the man who led the inquiry into Patel’s behaviour, quit his role as the Prime Minister’s standards adviser last week when Johnson did not sack the home secretary.
The Prime Minister also reportedly tried to tone down the independent report.
Allan found Patel had “not consistently met the high standards required by the Ministerial Code” and that her “approach on occasions has amounted to behaviour that can be described as bullying”.
This is a breach of the Ministerial Code.
The home secretary gave an apology of sorts for her actions, saying she was sorry if civil servants were offended by her actions and that any bullying was unintentional.
Johnson reportedly told MPs last week that they needed to protect the home secretary by forming “a square around the Prittster”.
Reuters reports that Johnson today told ministers: “Given the unprecedented challenges we currently face as a nation, relationships of mutual trust and respect between politicians and their officials are paramount. This includes keeping internal conversations private,” he wrote in the letter.
“There is a particular duty on ministers and permanent secretaries to create jointly across government a culture which is professional, respectful, focused and ambitious for change in which there is no place for bullying.”
The Patel report was launched after Philip Rutnam, then permanent secretary of the Home Office, was forced from his job in February and annnounced he was suing the government for unfair dismissal.
Rutnam said Patel had helped wage a “vicious and orchestrated campaign” against him through a series of Fleet Street leaks.
The inquiry was held up by Downing Street for months, according to former cabinet secretary Sir Mark Sedwill.


cityam--2020-11-23--MPs pile pressure on government to shed light on 'dodgy' PPE deals

Around a dozen MPs have ramped up pressure on the government to offer clarity on its procurement of personal protective equipment ( PPE ) during the pandemic , as further details of opaque contracts continue to emerge .
Stephen Timms MP has written to the government on behalf of the the Work and Pensions Committee following a damning report from the spending watchdog into the government ’ s PPE spending last week .
Read more : MPs demand answers from Rishi Sunak on PPE procurement The National Audit Office ( NAO ) slammed the government for its “ lack of @ @ @ @ @ @ @ and accused ministers of giving priority access to companies with political ties .
It also found that £10.5bn — round 58 per cent — of all Covid-19 contracts were awarded without a competitive tender process .
In a letter to the Health and Safety Executive ( HSE ) , the Work and Pensions Committee chair urged the workplace regulator to shed light on its handling of emergency agreements during the coronavirus crisis .
“ NHS workers are putting themselves at risk on the frontline during this pandemic .
They deserve to feel safe @ @ @ @ @ @ @ rigorous process is being followed to approve [ PPE ] that enables them to carry out their vital work , ” said Timms .
“ While it doesn ’ t appear that any outside pressure influenced HSE officials making assessments in this case , reports that give an impression of political interference risk harming faith in the safety of PPE .
“ He added that the PPE scandal acted ” as a crucial reminder of the importance of the independence of the regulator , and of allowing expert officials to get on with @ @ @ @ @ @ @ government ” .
It comes after Treasury committee chair Mel Stride on Friday led a caucus of MPs expressing their concern over ministers ’ handling of PPE contracts during the pandemic .
Stride urged chancellor Rishi Sunak “ to provide us with information on whether the Treasury has followed the correct procedures when considering spending requests , whether any procedures have been curtailed as a result of the pandemic , and whether going forward any changes to these procedures are needed in light of the NAO report.
” Details of further questionable PPE @ @ @ @ @ @ @ the government to shed light on its procurement process .
On Tuesday , it emerged the government is facing legal action after awarding a £250m contract for PPE to an American jewellery company with no experience producing healthcare equipment .
The Good Law Project has filed legal proceedings against the Department of Health and Social Care ( DHSC ) after it awarded Florida-based firm Saiger LLC £70.5m in June to procure 10.2m gowns to the NHS — approximately the entire number of gowns used by NHS England for the duration of the coronavirus @ @ @ @ @ @ @ that a former Conservative councillor swapped his modest home for a £1.5m , 17th-century Cotswolds mansion after landing £276m in government contracts for PPE .
Steve Dechan , owner of medical device firm Platform-14 , paid himself a salary of around £400,000 from the taxpayer cash , while paying his wife £150,000 .
The government on Wednesday shrugged off accusations that its procurement process had been overly opaque , and argued it had needed to respond urgently to the coronavirus crisis .
“ We shifted heaven and earth to get 32bn items of @ @ @ @ @ @ @ told Parliament .
“ I ’ m very proud of what has been achieved.
” Read more : Deloitte handed PPE contract 4 months after it started work Jacob Rees-Mogg , Conservative MP and leader of the House of Commons , yesterday compared the government ’ s scramble for equipment during the Covid-19 pandemic to calling out an emergency plumber .
He said the UK was in the situation of “ having a leak at two in the morning ” and therefore it was “ inevitably expensive ” to procure PPE .

MPs pile pressure on government to shed light on ‘dodgy’ PPE deals
The government has faced mounting criticism over its “lack of transparency” in handing out PPE contracts
Around a dozen MPs have ramped up pressure on the government to offer clarity on its procurement of personal protective equipment (PPE) during the pandemic, as further details of opaque contracts continue to emerge.
Stephen Timms MP has written to the government on behalf of the the Work and Pensions Committee following a damning report from the spending watchdog into the government’s PPE spending last week.
The National Audit Office (NAO) slammed the government for its “lack of transparency” in handing out PPE contracts and accused ministers of giving priority access to companies with political ties.
It also found that £10.5bn — round 58 per cent — of all Covid-19 contracts were awarded without a competitive tender process.
In a letter to the Health and Safety Executive (HSE), the Work and Pensions Committee chair urged the workplace regulator to shed light on its handling of emergency agreements during the coronavirus crisis.
“NHS workers are putting themselves at risk on the frontline during this pandemic. They deserve to feel safe and have confidence that a proper and rigorous process is being followed to approve [PPE] that enables them to carry out their vital work,” said Timms.
“While it doesn’t appear that any outside pressure influenced HSE officials making assessments in this case, reports that give an impression of political interference risk harming faith in the safety of PPE. “
He added that the PPE scandal acted ”as a crucial reminder of the importance of the independence of the regulator, and of allowing expert officials to get on with their job without any perceived meddling from government”.
It comes after Treasury committee chair Mel Stride on Friday led a caucus of MPs expressing their concern over ministers’ handling of PPE contracts during the pandemic.
Stride urged chancellor Rishi Sunak “to provide us with information on whether the Treasury has followed the correct procedures when considering spending requests, whether any procedures have been curtailed as a result of the pandemic, and whether going forward any changes to these procedures are needed in light of the NAO report.”
Details of further questionable PPE contracts last week ramped up pressure for the government to shed light on its procurement process.
On Tuesday, it emerged the government is facing legal action after awarding a £250m contract for PPE to an American jewellery company with no experience producing healthcare equipment.
The Good Law Project has filed legal proceedings against the Department of Health and Social Care (DHSC) after it awarded Florida-based firm Saiger LLC £70.5m in June to procure 10.2m gowns to the NHS — approximately the entire number of gowns used by NHS England for the duration of the coronavirus pandemic.
The Sunday Times reported yesterday that a former Conservative councillor swapped his modest home for a £1.5m, 17th-century Cotswolds mansion after landing £276m in government contracts for PPE.
Steve Dechan, owner of medical device firm Platform-14, paid himself a salary of around £400,000 from the taxpayer cash, while paying his wife £150,000.
The government on Wednesday shrugged off accusations that its procurement process had been overly opaque, and argued it had needed to respond urgently to the coronavirus crisis.
“We shifted heaven and earth to get 32bn items of PPE into this country,” Johnson told Parliament. “I’m very proud of what has been achieved.”
Jacob Rees-Mogg, Conservative MP and leader of the House of Commons, yesterday compared the government’s scramble for equipment during the Covid-19 pandemic to calling out an emergency plumber.
He said the UK was in the situation of “having a leak at two in the morning” and therefore it was “inevitably expensive” to procure PPE.