cityam--2020-05-18--Coronavirus crisis set to wipe $17bn off sports sponsorship market

Global sports sponsorship revenue will fall by $ 17.2bn ( £14.1bn ) this year as a result of the coronavirus pandemic , new forecasts have revealed .
Total spend is expected to reach just $ 28.9bn in 2020 — a 37 per cent fall year on year — as scores of live sporting events have been scrapped and businesses look to conserve cash .
Read more : BeIN Sports urges Premier League to block Saudi bid for Newcastle The decline in revenue is set to be particularly marked for financial services firms , whose contribution is forecast to plummet 45 @ @ @ @ @ @ @ sector was the biggest investor in sports sponsorship last year , contributing $ 12.6bn — or more than a quarter of total spend , according to sports marketing firm Two Circles .
The Covid-19 crisis has led to most new sponsorship agreements being put on hold , while many existing deals have been scrapped as firms try to save cash or go out of business .
Sponsors have also been offered so-called makegood collateral and cash rebates to compensate for the postponement or cancellation of live sport .
The figures do not include @ @ @ @ @ @ @ often non-contractual expenditure and will also be significantly impacted by cost-cutting measures .
“ As a marketing platform to reach passionate and emotionally-engaged audiences at-scale in brand-safe environments , sports sponsorship is unrivalled , ” said Gareth Balch , chief executive of Two Circles .
“ However , with live sport halted globally since March , the value that sports properties have been able to deliver brand partners has been limited , with cost-cutting in sectors that invest heavily in sponsorship also presenting a significant challenge in signing new deals.
” Aside from @ @ @ @ @ @ @ such as the automotive , energy and airline sectors are also set to cut their spend drastically .
Automotive — the second biggest spender in 2019 — is expected to decline 55 per cent year on year to contribute $ 2.7bn in 2020 .

Coronavirus crisis set to wipe $17bn off sports sponsorship market
Global sports sponsorship revenue will fall by $17.2bn (£14.1bn) this year as a result of the coronavirus pandemic, new forecasts have revealed.
Total spend is expected to reach just $28.9bn in 2020 — a 37 per cent fall year on year — as scores of live sporting events have been scrapped and businesses look to conserve cash.
The decline in revenue is set to be particularly marked for financial services firms, whose contribution is forecast to plummet 45 per cent to $6.9bn.
The sector was the biggest investor in sports sponsorship last year, contributing $12.6bn — or more than a quarter of total spend, according to sports marketing firm Two Circles.
The Covid-19 crisis has led to most new sponsorship agreements being put on hold, while many existing deals have been scrapped as firms try to save cash or go out of business.
Sponsors have also been offered so-called makegood collateral and cash rebates to compensate for the postponement or cancellation of live sport.
The figures do not include spend on partnership activation, which is often non-contractual expenditure and will also be significantly impacted by cost-cutting measures.
“As a marketing platform to reach passionate and emotionally-engaged audiences at-scale in brand-safe environments, sports sponsorship is unrivalled,” said Gareth Balch, chief executive of Two Circles.
“However, with live sport halted globally since March, the value that sports properties have been able to deliver brand partners has been limited, with cost-cutting in sectors that invest heavily in sponsorship also presenting a significant challenge in signing new deals.”
Aside from financial services, other major sports sponsors such as the automotive, energy and airline sectors are also set to cut their spend drastically.
Automotive — the second biggest spender in 2019 — is expected to decline 55 per cent year on year to contribute $2.7bn in 2020.


cityam--2020-05-18--Uber to cut nearly 7,000 employees as firm seeks to consolidate core activities

Ride-hailing firm Uber will cut nearly 7,000 employees , its chief executive Dara Khosrowshahi said in an email to employees , in a bid to remain profitable during the coronavirus crisis .
In total , Uber will cut 6,700 staff – 23 per cent of its workforce – up from the 3,700 redundancies announced earlier this month .
Read more : Uber installing in-car partitions to help stop coronavirus spread The firm will also reduce its investments in “ non-core activities ” and focus on its ride-hailing and food delivery services , the email said .
According to a regulatory @ @ @ @ @ @ @ in one-off charges of up to $ 260m in the second quarter .
However , the measures are expected to save up to $ 1bn in costs compared with pre-coronavirus budgeting .
The cuts will fall across the business , with customer support and recruiting expected to bear the brunt .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Before the crisis began , Uber was expected to become profitable on an earnings basis , but the collapse in ride-hailing @ @ @ @ @ @ @ the height of lockdown measures in April , ride-hailing demand dropped 80 per cent , according to the company .
On 7 May , the firm said it would instead aim to become profitable at some point in 2021 , pointing to the growth in food delivery service Uber Eats as a major growth opportunity .
Read more : Uber to spend $ 50m on safety kit as it tells drivers and passengers to wear masks In his email to staff , Khosrowshahi said the service had been the firm ’ s silver @ @ @ @ @ @ @ increasing 50 per cent in the first quarter .
In order to expand its share of the food delivery market , Uber is in talks over the acquisition of rival Grubhub .

Uber to cut nearly 7,000 employees as firm seeks to consolidate core activities
Ride-hailing firm Uber will cut nearly 7,000 employees, its chief executive Dara Khosrowshahi said in an email to employees, in a bid to remain profitable during the coronavirus crisis.
In total, Uber will cut 6,700 staff – 23 per cent of its workforce – up from the 3,700 redundancies announced earlier this month.
The firm will also reduce its investments in “non-core activities” and focus on its ride-hailing and food delivery services, the email said.
According to a regulatory filings, the job cuts will result in one-off charges of up to $260m in the second quarter.
However, the measures are expected to save up to $1bn in costs compared with pre-coronavirus budgeting.
The cuts will fall across the business, with customer support and recruiting expected to bear the brunt.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Before the crisis began, Uber was expected to become profitable on an earnings basis, but the collapse in ride-hailing demand has stalled the forecasts.
At the height of lockdown measures in April, ride-hailing demand dropped 80 per cent, according to the company.
On 7 May, the firm said it would instead aim to become profitable at some point in 2021, pointing to the growth in food delivery service Uber Eats as a major growth opportunity.
In his email to staff, Khosrowshahi said the service had been the firm’s silver lining during the crisis, with demand increasing 50 per cent in the first quarter.
In order to expand its share of the food delivery market, Uber is in talks over the acquisition of rival Grubhub.


cityam--2020-05-18--Coronavirus: 6,000 jobs at risk as Cafe Rouge and Bella Italia owner faces collapse

The owner of restaurant chains including Cafe Rouge and Bella Italia has filed notice of intent to appoint administrators , putting 6,000 jobs at risk .
Casual Dining Group , which also runs the Las Iguanas chain , said the move will give it 10 working days ’ respite as it weighs up potential restructuring options .
Read more : Restaurants hit out at delivery platform fees during lockdown Earlier today the company said it was working with advisers at consultancy firm Alix Partners over a potential restructuring to shore up its finances .
Casual Dining Group has said that @ @ @ @ @ @ @ including a company voluntary arrangement ( CVA ) that would allow it to shut some restaurants and renegotiate rents .
It could also mean placing some of its brands into administration to save others , though it is not clear exactly how the group would be divided up .
“ As is widely acknowledged , this is an unprecedented situation for our industry and , like many other companies across the UK , the directors of Casual Dining Group are working closely with our advisers as we consider our next steps , ” @ @ @ @ @ @ @ are a prudent measure in light of the company ’ s position and the wider situation.
” The move means the company will be protected from potential winding up orders brought by landlords .
Casual Dining Group had previously attempted to mitigate wider difficulties in the sector by reducing its restaurant count from 300 to 250 and selling off Spanish tapas chain La Tasca .
But alongside other restaurants the company has been plunged into crisis after UK eateries were forced to close their doors in March as part of the coronavirus lockdown @ @ @ @ @ @ @ No pubs or restaurants to reopen until July ‘ at very earliest ’ It came amid reports that the owner of the Giraffe restaurant chain was close to striking a deal to buy Carluccio ’ s in a rescue plan that will save roughly 900 jobs .
Boparan Restaurants , owned by so-called chicken king tycoon Ranjit Boparan , is set to take control of Carluccio ’ s brand , head office and roughly 30 restaurants in the coming days , Sky News reported .

Coronavirus: 6,000 jobs at risk as Cafe Rouge and Bella Italia owner faces collapse
The owner of restaurant chains including Cafe Rouge and Bella Italia has filed notice of intent to appoint administrators, putting 6,000 jobs at risk.
Casual Dining Group, which also runs the Las Iguanas chain, said the move will give it 10 working days’ respite as it weighs up potential restructuring options.
Earlier today the company said it was working with advisers at consultancy firm Alix Partners over a potential restructuring to shore up its finances.
Casual Dining Group has said that all options are on the table, including a company voluntary arrangement (CVA) that would allow it to shut some restaurants and renegotiate rents.
It could also mean placing some of its brands into administration to save others, though it is not clear exactly how the group would be divided up.
“As is widely acknowledged, this is an unprecedented situation for our industry and, like many other companies across the UK, the directors of Casual Dining Group are working closely with our advisers as we consider our next steps,” a spokesperson said.
“These notifications are a prudent measure in light of the company’s position and the wider situation.”
The move means the company will be protected from potential winding up orders brought by landlords.
Casual Dining Group had previously attempted to mitigate wider difficulties in the sector by reducing its restaurant count from 300 to 250 and selling off Spanish tapas chain La Tasca.
But alongside other restaurants the company has been plunged into crisis after UK eateries were forced to close their doors in March as part of the coronavirus lockdown.
It came amid reports that the owner of the Giraffe restaurant chain was close to striking a deal to buy Carluccio’s in a rescue plan that will save roughly 900 jobs.
Boparan Restaurants, owned by so-called chicken king tycoon Ranjit Boparan, is set to take control of Carluccio’s brand, head office and roughly 30 restaurants in the coming days, Sky News reported.


cityam--2020-05-18--Government considering 'air bridges' to countries with similar Covid-19 infection rate

Transport secretary Grant Shapps has confirmed that the government is considering “ air bridges ” between the UK and other countries with a low coronavirus infection rate , potentially cutting out the need to quarantine all arrivals .
Last weekend Prime Minister Boris Johnson announced that all incoming travellers to the UK would have to be quarantined for 14 days on arrival .
Read more : Government to review 14-day quarantine plan every three weeks The plan met with dismay from many in the aviation industry , who said the measures would damage the UK ’ s ability to recover @ @ @ @ @ @ @ was among those to suggest that to get round the stringent plans the UK should seek to establish “ travel bubbles ” with countries with similar low rates of infection .
Speaking to MPs in parliament today , Shapps said : “ It is the case that we should consider further improvements , for example things like air bridges enabling people from other countries who have themselves achieved lower levels of coronavirus infection to come to the country .
Listen to our daily City View podcast as we chart the economic fallout and @ @ @ @ @ @ @ “ So those are active discussions but will go beyond what will initially be a blanket situation ” , he added .
He also confirmed that the quarantine measures would come into place in June , not at the end of May as Johnson had said .
Earlier today the Prime Minister ’ s spokesman said that the measures would be reviewed every three weeks after their introduction .
Uncertainty remains over whether travellers from France will be exempt from the measures , a move that the government had initially touted , but @ @ @ @ @ @ @ : Virgin Atlantic won ’ t fly until August under proposed quarantine measures – report Airline bosses have been among the most outspoken critics of the schemes , with Ryanair ’ s Michael O ’ Leary labelling the move as “ nonsense ” .
British Airways and Virgin Atlantic have both said they would be unlikely to begin to increase service levels in July if the quarantine plan was implemented .

Government considering ‘air bridges’ to countries with similar Covid-19 infection rate
Shapps has defended the government’s approach to oil and gas, but also clarified it will not row back on net zero
Transport secretary Grant Shapps has confirmed that the government is considering “air bridges” between the UK and other countries with a low coronavirus infection rate, potentially cutting out the need to quarantine all arrivals.
Last weekend Prime Minister Boris Johnson announced that all incoming travellers to the UK would have to be quarantined for 14 days on arrival.
The plan met with dismay from many in the aviation industry, who said the measures would damage the UK’s ability to recover economically from the crisis.
Heathrow Airport was among those to suggest that to get round the stringent plans the UK should seek to establish “travel bubbles” with countries with similar low rates of infection.
Speaking to MPs in parliament today, Shapps said: “It is the case that we should consider further improvements, for example things like air bridges enabling people from other countries who have themselves achieved lower levels of coronavirus infection to come to the country.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
“So those are active discussions but will go beyond what will initially be a blanket situation”, he added.
He also confirmed that the quarantine measures would come into place in June, not at the end of May as Johnson had said.
Earlier today the Prime Minister’s spokesman said that the measures would be reviewed every three weeks after their introduction.
Uncertainty remains over whether travellers from France will be exempt from the measures, a move that the government had initially touted, but later pulled back on.
Airline bosses have been among the most outspoken critics of the schemes, with Ryanair’s Michael O’Leary labelling the move as “nonsense”.
British Airways and Virgin Atlantic have both said they would be unlikely to begin to increase service levels in July if the quarantine plan was implemented.


cityam--2020-05-18--Oil prices soar as world begins to emerge from lockdown

Oil prices continued their upwards trajectory this afternoon , dispelling fears of a repeat of last month ’ s price implosion as the countries around the world continued to move out of lockdown restrictions .
Worldwide standard Brent crude broke through the $ 35 mark , rising nine per cent to stand at its highest levels since March .
Read more : Oil prices surge past $ 30 for first time in two months West Texas Intermediate , the US benchmark , turned in an even more impressive effort , climbing 11.4 per cent to $ 32.78 .
With WTI @ @ @ @ @ @ @ expire tomorrow , anxiety that the market would see prices turn negative again appears to be misplaced , with the oil market showing increasing signs of balance after April ’ s historic volatility .
The rises are down to a number of factors , with strengthening oil demand due to countries beginning to restart economic activity corroborated by record production cuts from oil producing nations .
According to data from Kpler , a firm which tracks oil flows , Opec+ countries are thus far complying with record 9.7m barrel a day cuts , @ @ @ @ @ @ @ our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
In the UK , fuel demand has begun to pick up as more people have started to return to work .
According to the Petrol Retailers Association , Britain ’ s fuel demand was down 40-45 per cent year-on-year in the past couple weeks , compared with a 65-70 per cent decline earlier in the country ’ s lockdown to limit the spread of coronavirus .
Speaking to Reuters , PRA chief Brian Madderson @ @ @ @ @ @ @ recovering quickly over the last couple of weeks ” .
Analysts however warned that downward pressure on oil prices would continue , with demand unlikely to return to pre-coronavirus levels for some time .
ING analyst Warren Patterson said : “ Clearly the fundamentals in the market are improving , but we continue to believe that the market is rallying too much too soon , with the risk that further strength will only prolong the supply and demand imbalance ” .

Oil prices soar as world begins to emerge from lockdown
Oil prices continued their upwards trajectory this afternoon, dispelling fears of a repeat of last month’s price implosion as the countries around the world continued to move out of lockdown restrictions.
Worldwide standard Brent crude broke through the $35 mark, rising nine per cent to stand at its highest levels since March.
West Texas Intermediate, the US benchmark, turned in an even more impressive effort, climbing 11.4 per cent to $32.78.
With WTI’s June delivery contract due to expire tomorrow, anxiety that the market would see prices turn negative again appears to be misplaced, with the oil market showing increasing signs of balance after April’s historic volatility.
The rises are down to a number of factors, with strengthening oil demand due to countries beginning to restart economic activity corroborated by record production cuts from oil producing nations.
According to data from Kpler, a firm which tracks oil flows, Opec+ countries are thus far complying with record 9.7m barrel a day cuts, helping stabilise the market.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
In the UK, fuel demand has begun to pick up as more people have started to return to work.
According to the Petrol Retailers Association, Britain’s fuel demand was down 40-45 per cent year-on-year in the past couple weeks, compared with a 65-70 per cent decline earlier in the country’s lockdown to limit the spread of coronavirus.
Speaking to Reuters, PRA chief Brian Madderson said: “The market has been recovering quickly over the last couple of weeks”.
Analysts however warned that downward pressure on oil prices would continue, with demand unlikely to return to pre-coronavirus levels for some time.
ING analyst Warren Patterson said: “Clearly the fundamentals in the market are improving, but we continue to believe that the market is rallying too much too soon, with the risk that further strength will only prolong the supply and demand imbalance”.


cityam--2020-05-18--Huawei says ‘pernicious’ new US sanctions puts its survival at stake

Huawei has slammed “ pernicious ” new sanctions rolled out by the US last week , warning they could put the Chinese tech giant ’ s survival at stake .
“ We expect that our business will inevitably be affected .
We will try all we can to seek a solution , ” Huawei ’ s rotating chairman Guo Ping said in a speech this morning .
“ Survival is the key word for us at present , ” he added .
Read more : Donald Trump extends US Huawei ban by another year The US added Huawei to a @ @ @ @ @ @ @ concerns , essentially blocking US companies from doing business with the Chinese telecoms group .
But the commerce department last week said it would extend the sanctions to require licences for sales to Huawei of semiconductors made abroad with American technology .
US authorities said the move was designed to “ narrowly and strategically target Huawei ’ s acquisition of semiconductors ” .
But the group today hit back at the beefed up sanctions , saying the decision was “ arbitrary and pernicious , and threatens to undermine the entire industry worldwide ” @ @ @ @ @ @ @ made by the US Department of Commerce to its foreign direct product rule that target Huawei specifically , ” the company said in a statement , adding that previous sanctions were also unjustified .
“ The US is leveraging its own technological strengths to crush companies outside its own borders .
This will only serve to undermine the trust international companies place in US technology and supply chains.
” US President Donald Trump has spearheaded a campaign against Huawei , urging allies to block the Chinese firm amid concerns its technology could be @ @ @ @ @ @ @ — allegations it has always denied .
Despite the warnings the UK has allowed Huawei to build non-sensitive parts of the country ’ s 5G networks , though it will implement a 35 per cent market share cap .
The sanctions have taken their toll on Huawei , which has been forced to develop its own operating software after being banned from using Google ’ s Android .
The company missed its revenue target by $ 12bn in 2019 and has warned of an additional financial strain this year caused by the coronavirus @ @

Huawei says ‘pernicious’ new US sanctions puts its survival at stake
Huawei has slammed “pernicious” new sanctions rolled out by the US last week, warning they could put the Chinese tech giant’s survival at stake.
“We expect that our business will inevitably be affected. We will try all we can to seek a solution,” Huawei’s rotating chairman Guo Ping said in a speech this morning.
“Survival is the key word for us at present,” he added.
The US added Huawei to a trade blacklist last year over national security concerns, essentially blocking US companies from doing business with the Chinese telecoms group.
But the commerce department last week said it would extend the sanctions to require licences for sales to Huawei of semiconductors made abroad with American technology.
US authorities said the move was designed to “narrowly and strategically target Huawei’s acquisition of semiconductors”.
But the group today hit back at the beefed up sanctions, saying the decision was “arbitrary and pernicious, and threatens to undermine the entire industry worldwide”.
“Huawei categorically opposes the amendments made by the US Department of Commerce to its foreign direct product rule that target Huawei specifically,” the company said in a statement, adding that previous sanctions were also unjustified.
“The US is leveraging its own technological strengths to crush companies outside its own borders. This will only serve to undermine the trust international companies place in US technology and supply chains.”
US President Donald Trump has spearheaded a campaign against Huawei, urging allies to block the Chinese firm amid concerns its technology could be used for spying by authorities in Beijing — allegations it has always denied.
Despite the warnings the UK has allowed Huawei to build non-sensitive parts of the country’s 5G networks, though it will implement a 35 per cent market share cap.
The sanctions have taken their toll on Huawei, which has been forced to develop its own operating software after being banned from using Google’s Android.
The company missed its revenue target by $12bn in 2019 and has warned of an additional financial strain this year caused by the coronavirus crisis.


cityam--2020-05-18--UK coronavirus death toll up 160 to 34,796

A further 160 people in the UK died from coronavirus yesterday , bringing the total to 34,796 .
Yesterday ’ s amount of deaths was one of the lowest one-day total since the coronavirus lockdown began in March , however numbers on the weekend tend to be lower than on weekdays .
Read more : Coronavirus testing expanded to everyone over five with symptoms The UK ’ s official Covid-19 death toll is the highest in Europe .
Deputy chief medical officer Jonathan Van-Tam said at today ’ s press briefing that there was “ a definite and sustained decrease @ @ @ @ @ @ @ ” .
The new figures come as health secretary Matt Hancock announced that everyone over the age of five with Covid-like symptoms was eligible for a test from today .
It was also announced today that loss of smell and taste had been made an official symptom of coronavirus .
Anyone who experiences loss of taste – independent of the other two symptoms of a new continuous cough or a fever – must self-isolate for seven days and their household must self-isolate for 14 days .
Listen to our daily City View podcast @ @ @ @ @ @ @ business impact of the coronavirus pandemic .
Speaking to MPs today , Hancock said : “ Anyone [ over the age of five ] with a new continuous cough or a high temperature or the loss or change of sense of taste or smell can book a test by visiting nhs.uk/coronavirus .
“ We will continue to prioritise access to tests for nhs and social care patients , residents and staff.
” Hancock also announced that 21,000 people had been recruited as “ contact tracers ” to administer the government ’ s “ @ @ @ @ @ @ @ programme is thought to be a key tool for the UK to prevent a second peak of coronavirus infections as the lockdown is eased .
The health secretary said the 21,000 tracers provided “ capacity for the current level of new cases demonstrated by the ONS surveys ” .
However , the NHSX app that will be a part of the programme will not be ready until next month , despite Hancock earlier setting a target of mid-May .
“ Today , I can confirm we have recruited over 21,000 contact tracers – @ @ @ @ @ @ @ provide our core handlers with expert clinical advice , ” he said .
“ They will help manually trace the contacts of anyone who has had a positive test and advise them on whether they need to isolate.
” Read more : Loss of smell officially added to UK ’ s list of coronavirus symptoms The UK now has capacity to administer more than 100,000 Covid-19 tests a day .

UK coronavirus death toll up 160 to 34,796
A further 160 people in the UK died from coronavirus yesterday, bringing the total to 34,796.
Yesterday’s amount of deaths was one of the lowest one-day total since the coronavirus lockdown began in March, however numbers on the weekend tend to be lower than on weekdays.
The UK’s official Covid-19 death toll is the highest in Europe.
Deputy chief medical officer Jonathan Van-Tam said at today’s press briefing that there was “a definite and sustained decrease in new cases, which is encouraging”.
The new figures come as health secretary Matt Hancock announced that everyone over the age of five with Covid-like symptoms was eligible for a test from today.
It was also announced today that loss of smell and taste had been made an official symptom of coronavirus.
Anyone who experiences loss of taste – independent of the other two symptoms of a new continuous cough or a fever – must self-isolate for seven days and their household must self-isolate for 14 days.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Speaking to MPs today, Hancock said: “Anyone [over the age of five] with a new continuous cough or a high temperature or the loss or change of sense of taste or smell can book a test by visiting nhs.uk/coronavirus.
“We will continue to prioritise access to tests for nhs and social care patients, residents and staff.”
Hancock also announced that 21,000 people had been recruited as “contact tracers” to administer the government’s “test and trace” programme.
The programme is thought to be a key tool for the UK to prevent a second peak of coronavirus infections as the lockdown is eased.
The health secretary said the 21,000 tracers provided “capacity for the current level of new cases demonstrated by the ONS surveys”.
However, the NHSX app that will be a part of the programme will not be ready until next month, despite Hancock earlier setting a target of mid-May.
“Today, I can confirm we have recruited over 21,000 contact tracers – this includes 7,500 healthcare professionals who will provide our core handlers with expert clinical advice,” he said.
“They will help manually trace the contacts of anyone who has had a positive test and advise them on whether they need to isolate.”
The UK now has capacity to administer more than 100,000 Covid-19 tests a day.
Yesterday, 100,678 tests were administered.


cityam--2020-05-18--UK pubs call for social distancing to be reduced to one metre

The UK pub industry has called on the government to allow venues to reopen with one metre social distancing measures in place , rather than the two metres currently required .
The government said that some hospitality venues , including pubs , could reopen from 4 July at the earliest , with social distancing measures .
The current government advice is to maintain a two metre distance from other people to prevent the spread of coronavirus .
However , the British Beer & Pub Association said that it will be “ impossible ” for some UK pubs to enforce two @ @ @ @ @ @ @ stay closed for much longer .
The World Health Organisation currently recommends that individuals keep a distance of at least one metre .
More UK pubs could reopen from July if this measure is used , the BBPA said .
BBPA chief executive Emma McClarkin said : “ Re-opening in July will be great for those pubs who can meet the social-distancing measures required by then .
“ However , it must be recognised that no two pubs are the same and for many , ensuring a distance of two metres will be @ @ @ @ @ @ @ longer .
“ Actioning advice from the WHO for example to use one metre for social distancing from July would enable many more pubs to viably re-open and serve their communities again .
“ We stand ready to work with the Government to help pubs re-open in a safe and financially viable way as soon as possible.
” Read more : Marston ’ s secures £70m liquidity as brewer prepares for sustained pub closures The BBPA has previously warned that thousands of pubs could struggle to survive the UK lockdown without extra financial @ @ @ @ @ @ @ to be the last to re-open , then it ’ s only right the government gives extra support to them to help ensure their survival , ” McClarkin said earlier this month .

UK pubs call for social distancing to be reduced to one metre
The UK pub industry has called on the government to allow venues to reopen with one metre social distancing measures in place, rather than the two metres currently required.
The government said that some hospitality venues, including pubs, could reopen from 4 July at the earliest, with social distancing measures. The current government advice is to maintain a two metre distance from other people to prevent the spread of coronavirus.
However, the British Beer & Pub Association said that it will be “impossible” for some UK pubs to enforce two metre social distancing, meaning they will stay closed for much longer.
The World Health Organisation currently recommends that individuals keep a distance of at least one metre.
More UK pubs could reopen from July if this measure is used, the BBPA said.
BBPA chief executive Emma McClarkin said: “Re-opening in July will be great for those pubs who can meet the social-distancing measures required by then.
“However, it must be recognised that no two pubs are the same and for many, ensuring a distance of two metres will be impossible, keeping them closed for much longer.
“Actioning advice from the WHO for example to use one metre for social distancing from July would enable many more pubs to viably re-open and serve their communities again.
“We stand ready to work with the Government to help pubs re-open in a safe and financially viable way as soon as possible.”
The BBPA has previously warned that thousands of pubs could struggle to survive the UK lockdown without extra financial assistance.
“If pubs are going to be the last to re-open, then it’s only right the government gives extra support to them to help ensure their survival,” McClarkin said earlier this month.


cityam--2020-05-19--Downing Street confirms 'air bridges' quarantine exemption is under review

Downing Street has confirmed the government is considering “ air bridges ” between the UK and other countries to allow Britons to travel to some locations without quarantine .
Transport secretary Grant Shapps floated the idea in the House of Commons yesterday , suggesting deals could be struck with some countries to exempt travellers from quarantining on arrival or when they return to the UK .
Read more : Government to review 14-day quarantine plan every three weeks The UK will soon make it mandatory for everyone entering the country from abroad to self-isolate for 14 days , with some @ @ @ @ @ @ @ non-compliance .
The Prime Minister ’ s Official spokesman today said : “ It ’ s an option under consideration , but it ’ s not an agreed government policy.
” “ When we ’ re in a position to publish full details we will do so.
” Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Greek tourism minister Haris Theoharis told the BBC last night that an air bridge between his country and the UK would be welcomed .
@ @ @ @ @ @ @ the UK to Greece in 2018 alone .
“ If we don ’ t impose quarantine for people coming to Greece from the U.K. from someday onward , we would welcome it if the U.K. extended the same thing , ” he said .
The potential quarantine exemption plan comes after the UK appeared to u-turn on a two-way quarantine exemption with France .
Read more : Virgin Atlantic won ’ t fly until August under proposed quarantine measures – report On 10 May , a statement from Number 10 said : “ @ @ @ @ @ @ @ coming from France at this stage ; any measures on either side would be taken in a concerted and reciprocal manner.
” It has since been made clear by the government that there is no deal for a France exemption for travellers , but lorry drivers may be able to cross the channel without needing to self-isolate when they return .

Downing Street confirms ‘air bridges’ quarantine exemption is under review
The UK will soon make it mandatory for everyone entering the country from abroad to self-isolate for 14 days
Downing Street has confirmed the government is considering “air bridges” between the UK and other countries to allow Britons to travel to some locations without quarantine.
Transport secretary Grant Shapps floated the idea in the House of Commons yesterday, suggesting deals could be struck with some countries to exempt travellers from quarantining on arrival or when they return to the UK.
The UK will soon make it mandatory for everyone entering the country from abroad to self-isolate for 14 days, with some reports that fines could reach £10,000 for non-compliance.
The Prime Minister’s Official spokesman today said: “It’s an option under consideration, but it’s not an agreed government policy.”
“When we’re in a position to publish full details we will do so.”
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Greek tourism minister Haris Theoharis told the BBC last night that an air bridge between his country and the UK would be welcomed.
There was an estimated 2.5m trips from the UK to Greece in 2018 alone.
“If we don’t impose quarantine for people coming to Greece from the U.K. from someday onward, we would welcome it if the U.K. extended the same thing,” he said.
The potential quarantine exemption plan comes after the UK appeared to u-turn on a two-way quarantine exemption with France.
On 10 May, a statement from Number 10 said: “No quarantine measures would apply to travellers coming from France at this stage; any measures on either side would be taken in a concerted and reciprocal manner.”
It has since been made clear by the government that there is no deal for a France exemption for travellers, but lorry drivers may be able to cross the channel without needing to self-isolate when they return.


cityam--2020-05-19--Tiktok poaches Disney streaming boss as new chief executive

The veteran Disney executive behind the launch of its new streaming service is leaving the media empire to become the new chief executive of Tiktok .
Kevin Mayer masterminded the rollout of Disney Plus last year but was overlooked for the role of Disney ’ s new chief executive .
Read more : Analysis : Can Disney Plus rescue the House of Mouse ?
Mayer will take over at Tiktok from 1 June , when he will also become chief operating officer at Chinese parent company Bytedance .
The high-profile appointment is a coup for the hit video app , @ @ @ @ @ @ @ has enjoyed a surge in usage during the coronavirus lockdown .
Bytedance , which was valued at $ 78bn ( £62bn ) in its latest funding round is also plotting the launch of a new music streaming service to rival Spotify .
Mayer ’ s future at Disney had been in doubt since February , when the media group named Bob Chapek as its new chief executive .
Mayer had been tipped as a potential successor to outgoing boss Bob Iger after leading the successful launch of Disney Plus , which now has @ @ @ @ @ @ @ named Rebecca Campbell as Mayer ’ s replacement at the helm of its direct-to-consumer and international division .
The appointment comes after Bytedance set out plans to hire 10,000 new employees to help it cope with increased demand during the Covid-19 pandemic .
The recruitment drive would see the Beijing-based company hit 40,000 new jobs this year — bringing it in line with headcount at fellow Chinese tech giant Alibaba .
Read more : Tiktok owner Bytedance to hire 10,000 new staff amid lockdown boom Tiktok has racked up roughly 1.5bn monthly users @ @ @ @ @ @ @ app for entertainment during the lockdown .
However , the Beijing-based firm has come under scrutiny from global regulators amid concerns over harmful material posted to its platform , its use of data and its alleged links to the Chinese government .

Tiktok poaches Disney streaming boss as new chief executive
The veteran Disney executive behind the launch of its new streaming service is leaving the media empire to become the new chief executive of Tiktok.
Kevin Mayer masterminded the rollout of Disney Plus last year but was overlooked for the role of Disney’s new chief executive.
Mayer will take over at Tiktok from 1 June, when he will also become chief operating officer at Chinese parent company Bytedance.
The high-profile appointment is a coup for the hit video app, which is wildly popular among teenagers and has enjoyed a surge in usage during the coronavirus lockdown.
Bytedance, which was valued at $78bn (£62bn) in its latest funding round is also plotting the launch of a new music streaming service to rival Spotify.
Mayer’s future at Disney had been in doubt since February, when the media group named Bob Chapek as its new chief executive.
Mayer had been tipped as a potential successor to outgoing boss Bob Iger after leading the successful launch of Disney Plus, which now has more than 50m subscribers.
Disney has named Rebecca Campbell as Mayer’s replacement at the helm of its direct-to-consumer and international division.
The appointment comes after Bytedance set out plans to hire 10,000 new employees to help it cope with increased demand during the Covid-19 pandemic.
The recruitment drive would see the Beijing-based company hit 40,000 new jobs this year — bringing it in line with headcount at fellow Chinese tech giant Alibaba.
Tiktok has racked up roughly 1.5bn monthly users as people turn to the social media app for entertainment during the lockdown.
However, the Beijing-based firm has come under scrutiny from global regulators amid concerns over harmful material posted to its platform, its use of data and its alleged links to the Chinese government.


cityam--2020-05-19--UK lockdown: Pedestrian activity soars 25 per cent as Londoners get back to work

Pedestrian activity in the capital soared 25 per cent yesterday as more Londoners got back to work following the government ’ s updated UK lockdown rules .
Yesterday ’ s surge was the first big jump in weekday numbers since the government changed its message from “ stay at home ” to “ stay alert ” earlier this month .
Read more : Visitor numbers at UK shopping destinations dive in coronavirus lockdown The lag in pedestrian activity suggests employers and staff needed time to ensure safe working conditions and commutes were in place .
In the seven days to @ @ @ @ @ @ @ per cent to 11.24 points , according to Hoxton Analytics .
A reading of 100 represents normal pedestrian levels .
Last week the government announced the easing of some lockdown restrictions in England .
People have been told to return to work if they can not work from home and individuals that do not live together are able to meet up outdoors at a distance of two metres .
Non-essential shops could reopen from 1 June at the earliest , while pubs and other hospitality venues will be waiting until at least 4 @ @ @ @ @ @ @ public .
Read more : Life after lockdown : What are the new UK social distancing rules ?
A report published yesterday showed that footfall at the UK ’ s retail destinations increased by a modest 3.3 per cent in the first week since lockdown measures were lifted .
According to retail intelligence analysts Springboard , last week ’ s increase was the fourth in six weeks , although it was considerably smaller than that recorded on the week of the previous bank holiday , when footfall rose 11.7 per cent .

UK lockdown: Pedestrian activity soars 25 per cent as Londoners get back to work
Pedestrian activity in the capital soared 25 per cent yesterday as more Londoners got back to work following the government’s updated UK lockdown rules.
Yesterday’s surge was the first big jump in weekday numbers since the government changed its message from “stay at home” to “stay alert” earlier this month.
The lag in pedestrian activity suggests employers and staff needed time to ensure safe working conditions and commutes were in place.
In the seven days to 18 May pedestrian traffic was up 7.6 per cent to 11.24 points, according to Hoxton Analytics. A reading of 100 represents normal pedestrian levels.
Last week the government announced the easing of some lockdown restrictions in England.
People have been told to return to work if they cannot work from home and individuals that do not live together are able to meet up outdoors at a distance of two metres.
Non-essential shops could reopen from 1 June at the earliest, while pubs and other hospitality venues will be waiting until at least 4 July before opening their doors to the public.
A report published yesterday showed that footfall at the UK’s retail destinations increased by a modest 3.3 per cent in the first week since lockdown measures were lifted.
According to retail intelligence analysts Springboard, last week’s increase was the fourth in six weeks, although it was considerably smaller than that recorded on the week of the previous bank holiday, when footfall rose 11.7 per cent.


cityam--2020-05-19--Women in Banking & Finance are recruiting a new President

Women in Banking & Finance are now recruiting for a new President .
Women in Banking and Finance Limited ( “ WIBF ” ) is a not for profit company ( registered with company number 10982879 ) whose registered office is 80-83 Long Lane , London EC1A 9ET .
WIBF was founded in 1980 in the UK and Ireland and is staffed primarily by voluntary Executive and Management Committees , with branches in Birmingham , Bristol , Edinburgh , Glasgow , London , and Manchester .
WIBF institutional members include global financial services companies , major banks and firms servicing @ @ @ @ @ @ @ , which offers women equal opportunities as employees , customers and entrepreneurs to reach their full potential and to contribute to building better businesses and places to work for all .
Our mission is to bring a gender lens to UK financial services by connecting , challenging and inspiring our network to unlock the full potential of financial services for all .
We connect our members to a wide network of thought-leaders , business leaders and women at all stages of their careers .
We challenge the industry to adopt new ideas and @ @ @ @ @ @ @ wider community to believe in change .
Through our five core initiatives : Communities & Networking , Mentoring & Development , Thought Leadership , WIBF Jobs and Awards for Achievement CORE VALUES Our core values have remained key to our success for nearly 40 years .
We are volunteer-led , independent , inspiring and action-oriented .
This role is for a member of Women in Banking & Finance Limited as part of the Executive Board , Management Board and Advisory Board .
For key responsibilities , please refer to the relevant section below @ @ @ @ @ @ @ Board and Advisory Board Member , the main duties as President are to Chair the Boards as well as the AGM , engage with the Patrons , and to lead the WIBF organization in accordance with its Mission Statement .
You will demonstrate fairness , honesty and respect by conducting WIBF ’ s business to high ethical standards with integrity and in good faith .
To lead the WIBF network as President , to be the face and voice of WIBF and its individual and institutional members , connecting , challenging and inspiring @ @ @ @ @ @ @ models and champions for gender equality of opportunity in the financial services sector .
We believe that gender is a business issue , not a women ’ s issue .
• CEO of Women in Banking & Finance Limited ( company limited by guarantee ) – statutory obligations as part of the Executive Board ( which includes CFO and Head of Governance ) • Attract , retain and manage members of the Management Board • Attract and engage with the Patrons and the Advisory Board • Set and lead the strategic direction of @ @ @ @ @ @ @ responsibility for financial accountability • Host and speak at the Annual Awards for Achievement and Shortlist dinner • Speaking on behalf of WIBF and as a SME at conferences and events and with the press .
• Overall responsibility for the effective functioning of the five strategic areas of focus ( 1 .
WIBF Jobs 2 .
Awards for Achievement 3 .
Mentoring & Development 4 .
Communities & Networking and 5 .
Thought Leadership ) together with Membership , Marketing , Operations , Finance , Governance , Branches and Strategy • Must @ @ @ @ @ @ @ to develop a broad and effective network across government , academia , consultancy , public and private sector to advance the aims of WIBF • Actively develop , communicate , support and advocate for the WIBF network and brand • Collaborative and inclusive leadership essential for an organisation which operates by volunteers , with a handful of contractors to assist with the day to day operational aspects • Strategic and innovative thinker – there are an increasing number of gender focussed networks and organisations out there and it is essential that WIBF is @ @ @ @ @ @ @ needs of members • Enthusiasm is not enough – must be up to speed on the latest D & I thinking and initiatives and lead from the head as well as the heart to be an effective and credible leader for equality of gender opportunity • Must be able to develop a strategy , devise an action plan and execute while working with multiple volunteers of varying degrees of ability and enthusiasm • A people person who is able to engage with individual and institutional members from entry level members to CEO ’ @ @ @ @ @ @ @ leaders • As a volunteer led organisation , it is essential that the President is able to “ bring everyone with ” on the same journey – to inspire and lead with confidence and credibility • Able to manage “ in ” and “ out ” both volunteers and members where necessary • This is a role for a “ doer ” rather than a “ thinker ” or “ talker ” • Must be adaptable and flexible to be able to assess opportunities and challenges as they arise , and to address @ @ @ @ @ @ @ • Must be able to host and attend meetings both during the day and evenings • The time commitment is 5-12 hours on average per week of calls , meetings and events .
In addition , 2-5 hours per week for preparation and administration i.e .
monthly newsletter message , recruitment , admin .
This time commitment is higher in the lead up to significant events like conferences , Awards , Strategy Day , AGM , etc • Must be able to be flexible to respond to urgent issues such as press interviews @ @ @ @ @ @ @ work for one of the member firms of WIBF , and should be a current member familiar with what WIBF is about The directors must hold at least four meetings each year ( usually on the same day as Executive Board meetings ) , at least one of which must be in person .
You will be a statutory director of WIBF and must comply at all times with the obligations set out under the Companies Act 2006 .
Please refer to the attached note on Director Duties .
The President will be @ @ @ @ @ @ @ in accordance with the Terms of Reference ( as adopted by WIBF from time to time ) .
Advisory Board meetings are held four times per year and Management Board meetings are held monthly .
There is an expectation on directors to attend all Management Board and Advisory Board meetings to fulfil the requirements of the role .
This is a voluntary role and service on the Management and Advisory Boards is without remuneration except for administrative support , travel and accommodation costs in relation to director duties ( refer to expenses policy @ @ @ @ @ @ @ no set number of hours that directors will contribute to WIBF , there is , however , an expectation that individual directors will commit sufficient time to ensure they meet any commitments they have agreed to as part of their agreed role .
Director will hold the position for three years in the first instance , with the opportunity to be re-elected by the Management Board for a further term thereafter .
Majority of the meetings and events for President role are based in London .
There will also be an expectation to @ @ @ @ @ @ @ The WIBF Executive Board will annually review the job description and any recommended changes will be presented to the relevant Board for approval .
For more information download our President candidate information pack Visit www.wibf.org.uk to find out more about us !

Women in Banking & Finance are recruiting a new President
Women in Banking & Finance are now recruiting for a new President.
BACKGROUND
Women in Banking and Finance Limited (“WIBF”) is a not for profit company (registered with company number 10982879) whose registered office is 80-83 Long Lane, London EC1A 9ET. WIBF was founded in 1980 in the UK and Ireland and is staffed primarily by voluntary Executive and Management Committees, with branches in Birmingham, Bristol, Edinburgh, Glasgow, London, and Manchester. WIBF institutional members include global financial services companies, major banks and firms servicing the industry.
VISION
A financial services sector, which offers women equal opportunities as employees, customers and entrepreneurs to reach their full potential and to contribute to building better businesses and places to work for all.
MISSION
Our mission is to bring a gender lens to UK financial services by connecting, challenging and inspiring our network to unlock the full potential of financial services for all.
WHAT WIBF DOES
We connect our members to a wide network of thought-leaders, business leaders and women at all stages of their careers.
We challenge the industry to adopt new ideas and address structural barriers.
We inspire our wider community to believe in change.
Through our five core initiatives: Communities & Networking, Mentoring & Development, Thought Leadership, WIBF Jobs and Awards for Achievement
CORE VALUES
Our core values have remained key to our success for nearly 40 years. We are volunteer-led, independent, inspiring and action-oriented.
ROLE OVERVIEW
This role is for a member of Women in Banking & Finance Limited as part of the Executive Board, Management Board and Advisory Board. For key responsibilities, please refer to the relevant section below. As an Executive Board, Management Board and Advisory Board Member, the main duties as President are to Chair the Boards as well as the AGM, engage with the Patrons, and to lead the WIBF organization in accordance with its Mission Statement. You will demonstrate fairness, honesty and respect by conducting WIBF’s business to high ethical standards with integrity and in good faith.
PRESIDENT PROFILE
To lead the WIBF network as President, to be the face and voice of WIBF and its individual and institutional members, connecting, challenging and inspiring each of them to be gender role models and champions for gender equality of opportunity in the financial services sector. We believe that gender is a business issue, not a women’s issue.
FUNCTION & RESPONSIBILITIES
CEO of Women in Banking & Finance Limited (company limited by guarantee) – statutory obligations as part of the Executive Board (which includes CFO and Head of Governance)
Attract, retain and manage members of the Management Board
Attract and engage with the Patrons and the Advisory Board
Set and lead the strategic direction of WIBF
Agree the budget and overall responsibility for financial accountability
Host and speak at the Annual Awards for Achievement and Shortlist dinner
Speaking on behalf of WIBF and as a SME at conferences and events and with the press.
Overall responsibility for the effective functioning of the five strategic areas of focus (1. WIBF Jobs 2. Awards for Achievement 3. Mentoring & Development 4. Communities & Networking and 5. Thought Leadership) together with Membership, Marketing, Operations, Finance, Governance, Branches and Strategy
Must be well connected and willing and able to develop a broad and effective network across government, academia, consultancy, public and private sector to advance the aims of WIBF
Actively develop, communicate, support and advocate for the WIBF network and brand
KEY SKILLS, EXPERIENCE AND COMPETENCIES
Collaborative and inclusive leadership essential for an organisation which operates by volunteers, with a handful of contractors to assist with the day to day operational aspects
Strategic and innovative thinker – there are an increasing number of gender focussed networks and organisations out there and it is essential that WIBF is able to differentiate itself and meet the needs of members
Enthusiasm is not enough – must be up to speed on the latest D&I thinking and initiatives and lead from the head as well as the heart to be an effective and credible leader for equality of gender opportunity
Excellent communication and management skills
Capable and effective public speaker
Must be able to develop a strategy, devise an action plan and execute while working with multiple volunteers of varying degrees of ability and enthusiasm
A people person who is able to engage with individual and institutional members from entry level members to CEO’s, government officials and other senior leaders
As a volunteer led organisation, it is essential that the President is able to “bring everyone with” on the same journey – to inspire and lead with confidence and credibility
Able to manage “in” and “out” both volunteers and members where necessary
This is a role for a “doer” rather than a “thinker” or “talker”
Must be adaptable and flexible to be able to assess opportunities and challenges as they arise, and to address them in a timely and effective way
TIME COMMITMENT
Must be able to host and attend meetings both during the day and evenings
The time commitment is 5-12 hours on average per week of calls, meetings and events. In addition, 2-5 hours per week for preparation and administration i.e. monthly newsletter message, recruitment, admin. This time commitment is higher in the lead up to significant events like conferences, Awards, Strategy Day, AGM, etc
Must be able to be flexible to respond to urgent issues such as press interviews and quotes
Ideally the candidate would work for one of the member firms of WIBF, and should be a current member familiar with what WIBF is about
DIRECTOR RESPONSIBILITIES
The directors must hold at least four meetings each year (usually on the same day as Executive Board meetings), at least one of which must be in person. You will be a statutory director of WIBF and must comply at all times with the obligations set out under the Companies Act 2006. Please refer to the attached note on Director Duties.
PRESIDENT TERM/PARTICIPATION
The President will be an individual member of WIBF and operate in accordance with the Terms of Reference (as adopted by WIBF from time to time). Advisory Board meetings are held four times per year and Management Board meetings are held monthly. There is an expectation on directors to attend all Management Board and Advisory Board meetings to fulfil the requirements of the role. This is a voluntary role and service on the Management and Advisory Boards is without remuneration except for administrative support, travel and accommodation costs in relation to director duties (refer to expenses policy for further guidelines). There is no set number of hours that directors will contribute to WIBF, there is, however, an expectation that individual directors will commit sufficient time to ensure they meet any commitments they have agreed to as part of their agreed role. Director will hold the position for three years in the first instance, with the opportunity to be re-elected by the Management Board for a further term thereafter.
LOCATION
Majority of the meetings and events for President role are based in London. There will also be an expectation to travel to branches around the UK.
REVIEW/APPROVAL DATE
The WIBF Executive Board will annually review the job description and any recommended changes will be presented to the relevant Board for approval.
For more information download our President candidate information pack
Visit jobs.wibf.org.uk to find out more about the role!
Email us at: operations@wibf.org.uk


cityam--2020-05-19--Homeserve sees revenue rise by double digit margin

Home repairs firm Homeserve saw its revenue increase by a double digit margin in the last financial year , saying its prospects remained strong despite the coronavirus crisis .
The FTSE 250 firm added that it had not seen a big increase in cancellations due to the disease , but had stopped its large marketing campaigns as a precaution .
Read more : Homeserve posts higher revenue as it eyes US expansion Shares in the company rose 2.4 per cent this morning .
Revenue at Homeserve increased 13 per cent to £1.1bn , up from £1bn the year before .
@ @ @ @ @ @ @ from £140m to £138m .
Net debt rose by over two-thirds to £509m , up from £304.7m in the previous year .
Customer numbers crept up one per cent to 8.3m , driven by the firm ’ s North American customer base expanding to 4.4m .
The firm boosted its dividend 10 per cent across the year , rising from 21.4p to 23.6p .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
In a statement , Homeserve said that it @ @ @ @ @ @ @ the new financial year , despite the impact of the coronavirus crisis .
The firm has been resolute throughout the lockdown period , continuing to complete emergency repairs for customers in all of its operating territories .
Unlike many companies , it has also not furloughed any of its staff and will not make redundancies due to the crisis .
It is currently offering free repairs for NHS staff and other key social care workers , and has carried out over 2,000 such repairs so far .
Read more : Shareholders rebel at @ @ @ @ @ @ @ s founder and chief executive Richard Harpin said : “ I am really pleased with our performance in the last 12 months , in which we continued to provide excellent service to our customers , deliver on our financial objectives and invest for future growth .
“ I am especially proud of how everyone at HomeServe responded to the unprecedented challenges of Covid-19 , adapting quickly and efficiently to new ways of working and going beyond the call of duty to help our customers .

Homeserve sees revenue rise by double digit margin
Home repairs firm Homeserve saw its revenue increase by a double digit margin in the last financial year, saying its prospects remained strong despite the coronavirus crisis.
The FTSE 250 firm added that it had not seen a big increase in cancellations due to the disease, but had stopped its large marketing campaigns as a precaution.
Shares in the company rose 2.4 per cent this morning.
The figures
Revenue at Homeserve increased 13 per cent to £1.1bn, up from £1bn the year before.
Pre-tax profit slipped by a tiny margin from £140m to £138m.
Net debt rose by over two-thirds to £509m, up from £304.7m in the previous year.
Customer numbers crept up one per cent to 8.3m, driven by the firm’s North American customer base expanding to 4.4m.
The firm boosted its dividend 10 per cent across the year, rising from 21.4p to 23.6p.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
Why it’s interesting
In a statement, Homeserve said that it expected a “solid” performance in the new financial year, despite the impact of the coronavirus crisis.
The firm has been resolute throughout the lockdown period, continuing to complete emergency repairs for customers in all of its operating territories.
Unlike many companies, it has also not furloughed any of its staff and will not make redundancies due to the crisis.
It is currently offering free repairs for NHS staff and other key social care workers, and has carried out over 2,000 such repairs so far.
What Homeserve said
The firm’s founder and chief executive Richard Harpin said: “I am really pleased with our performance in the last 12 months, in which we continued to provide excellent service to our customers, deliver on our financial objectives and invest for future growth.
“I am especially proud of how everyone at HomeServe responded to the unprecedented challenges of Covid-19, adapting quickly and efficiently to new ways of working and going beyond the call of duty to help our customers.


cityam--2020-05-19--Hackers steal 9m Easyjet customers' data in cyber attack

Low-cost airline Easyjet said this morning that hackers had obtained the email and travel details of 9m customers , and the credit card details of a further 2,000 .
In a statement , the firm said : “ There is no evidence that any personal information of any nature has been misused .
“ However , we are communicating with the approximately 9m customers whose travel details were accessed to advise them of protective steps to minimise any risk of potential phishing ” .
In total , the credit card details of 2,208 customers were accessed , the group revealed @ @ @ @ @ @ @ : “ We ’ re sorry that this has happened , and we would like to reassure customers that we take the safety and security of their information very seriously ” .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Easyjet said that those customers who had been affected by the hack would be notified by 26 May at the latest .
It added that customers should be wary of any emails coming from Easyjet or Easyjet Holidays .
The @ @ @ @ @ @ @ ’ s Office ( ICO ) and National Cyber Security Centre .
Read more : Easyjet calls on government to use quarantine rules for only a short period The hack comes a few days before Easyjet ’ s board will go head-to-head with founder Stelios Haji-Ioannou over the carrier ’ s new aircraft contract with Airbus .
An extraordinary general meeting is set for Friday , at which shareholders will vote on Haji-Ioannou ’ s resolutions to dismiss the chairman , chief executive , and finance head over the deal .

Hackers steal 9m Easyjet customers’ data in cyber attack
Low-cost airline Easyjet said this morning that hackers had obtained the email and travel details of 9m customers, and the credit card details of a further 2,000.
In a statement, the firm said: “There is no evidence that any personal information of any nature has been misused.
“However, we are communicating with the approximately 9m customers whose travel details were accessed to advise them of protective steps to minimise any risk of potential phishing”.
In total, the credit card details of 2,208 customers were accessed, the group revealed in a regulatory filing.
It added: “We’re sorry that this has happened, and we would like to reassure customers that we take the safety and security of their information very seriously”.
Easyjet said that those customers who had been affected by the hack would be notified by 26 May at the latest.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
It added that customers should be wary of any emails coming from Easyjet or Easyjet Holidays.
The carrier is working with the Information Commissioner’s Office (ICO) and National Cyber Security Centre.
Last year, British Airways was fined £183m by the ICO after hackers harvested the details of 500,000 customers.
Andrew Tsonchev, director of technology at cyber defence firm Darktrace, said:
“18 months after British Airways suffered a major data breach, it is not surprising that airline companies continue to be a target for cyber attackers, particularly at a time when the industry is suffering from financial woes and reduced workforce due to furloughing.
“This is another wake-up call to businesses that they need to step up to the challenge, and invest in innovations such as AI that are suited to monitoring and protecting very distributed digital systems.
“Security teams alone cannot keep up with the speed and stealth of today’s attackers”.
The hack comes a few days before Easyjet’s board will go head-to-head with founder Stelios Haji-Ioannou over the carrier’s new aircraft contract with Airbus.
An extraordinary general meeting is set for Friday, at which shareholders will vote on Haji-Ioannou’s resolutions to dismiss the chairman, chief executive, and finance head over the deal.


cityam--2020-05-19--UK's new tariff regime creates path for EU trade deal, says trade experts

The government ’ s newly announced tariff regime has helped lay the path for a UK-EU free trade deal , according to trade experts .
The Department of International Trade announced its new “ global tariff ” today for when the UK leaves the post-Brexit transition period with the EU on 31 December .
It includes scrapping £30bn of taxes on imports , while maintaining the same tariffs on the agricultural and automotive sectors as under EU rules .
UK director of the European Centre For International Political Economy , a trade think tank , David Henig said the announcement @ @ @ @ @ @ @ it showed the UK was looking to complete deals with the EU and US by the end of the year .
“ I think it ’ s broadly in line with the situation currently , with some trade liberalisation , but it looks like where we were already heading toward – going down the trade agreement path , ” he said .
“ They ’ re trying to do trade deals with the EU and US which will remove all trade barriers , so the tariffs that were maintained were not surprising.
” @ @ @ @ @ @ @ with the EU and the US at the same time .
Read more : Brexit : ‘ Tetchier ’ trade talks offer little progress , says UK British negotiators have until 31 December to ratify a deal , or immediate barriers to trade will be implemented between the UK and EU .
Meanwhile , the second round of talks with the US will take place next month , with agricultural trade set to be one of the biggest policy issues .
Dr Rebecca Harding , trade expert from Coriolis Technologies , told Sky @ @ @ @ @ @ @ the UK showed the government was prioritising the EU trade deal over the US trade deal .
“ It ’ s keeping tariffs as they are , which serves to keep the EU happy on agriculture and automotives , ” she said .
“ What the structure is trying to do is create a system whereby we can use agriculture as a bargaining chip , but we ’ re stating that these are our relationships with Europe and we ’ re almost prioritising those relationships first .
“ We ’ re saying we @ @ @ @ @ @ @ as they are in these two very important sectors and then we can talk to the United States.
” However , Harding also warned that the removal of all tariffs on products such as dishwashers , freezers and cooking products could make the UK “ a dumping ground for cheap products ” .
“ That ’ s something that ’ s going to have to be watched , ” she said .
“ There are some serious reservations about how effective that would be and if UK farmers and UK producers can actually @ @ @ @ @ @ @ said the new global tariff scheme would give businesses “ much needed clarity on post-Brexit trade ” .
Read more : UK-US trade negotiations set for advanced talks in June “ However , businesses will need time to assess the detail and ensuring there ’ s a system in place to address issues as they arise will be critical , ” he said .
“ Crucially , firms ’ number one priority is for the government to strike a deal with the EU and ensuring continuity of existing trade deals .
”

UK’s new tariff regime creates path for EU trade deal, says trade experts
International Trade Secretary Liz Truss announced the UK’s post-Brexit tariff regime today
The government’s newly announced tariff regime has helped lay the path for a UK-EU free trade deal, according to trade experts.
The Department of International Trade announced its new “global tariff” today for when the UK leaves the post-Brexit transition period with the EU on 31 December.
It includes scrapping £30bn of taxes on imports, while maintaining the same tariffs on the agricultural and automotive sectors as under EU rules.
UK director of the European Centre For International Political Economy, a trade think tank, David Henig said the announcement was in line with expectations and that it showed the UK was looking to complete deals with the EU and US by the end of the year.
“I think it’s broadly in line with the situation currently, with some trade liberalisation, but it looks like where we were already heading toward – going down the trade agreement path,” he said.
“They’re trying to do trade deals with the EU and US which will remove all trade barriers, so the tariffs that were maintained were not surprising.”
The UK is currently negotiating trade deals with the EU and the US at the same time.
British negotiators have until 31 December to ratify a deal, or immediate barriers to trade will be implemented between the UK and EU.
Meanwhile, the second round of talks with the US will take place next month, with agricultural trade set to be one of the biggest policy issues.
Dr Rebecca Harding, trade expert from Coriolis Technologies, told Sky News that the new tariff guidelines from the UK showed the government was prioritising the EU trade deal over the US trade deal.
“It’s keeping tariffs as they are, which serves to keep the EU happy on agriculture and automotives,” she said.
“What the structure is trying to do is create a system whereby we can use agriculture as a bargaining chip, but we’re stating that these are our relationships with Europe and we’re almost prioritising those relationships first.
“We’re saying we want to make sure we keep things as they are in these two very important sectors and then we can talk to the United States.”
However, Harding also warned that the removal of all tariffs on products such as dishwashers, freezers and cooking products could make the UK “a dumping ground for cheap products”.
“That’s something that’s going to have to be watched,” she said.
“There are some serious reservations about how effective that would be and if UK farmers and UK producers can actually compete.”
CBI deputy director Josh Hardie said the new global tariff scheme would give businesses “much needed clarity on post-Brexit trade”.
“However, businesses will need time to assess the detail and ensuring there’s a system in place to address issues as they arise will be critical,” he said.
“Crucially, firms’ number one priority is for the government to strike a deal with the EU and ensuring continuity of existing trade deals.”


cityam--2020-05-19--Oh FCUK: French Connection scrambles to secure funding as cash reserves dwindle

Embattled retailer French Connection warned this morning that it could run out of cash within months due to the coronavirus crisis if it fails to secure extra funds .
French Connection , which abandoned hopes of a sale in January and instead announced a turnaround plan , said it is in talks with “ a number of potential funding partners ” .
Read more : French Connection in the red after ‘ worse than expected ’ trading The high street chain said without additional funding , and if trading continues to be impacted by the coronavirus pandemic , its cash @ @ @ @ @ @ @ the coming months ” .
Talks are “ proceeding well ” and it has made “ good progress ” on agreeing terms and due diligence , the fashion retailer , which was once known for its provocative FCUK branding , said .
French Connection , which has not posted a pre-tax profit since the year ended 31 January 2012 , reportedly turned down an offer from All Saints chief executive Stephen Craig and two private equity firms at the beginning of the year .
The company said today it had struggled to access @ @ @ @ @ @ @ employees through the job retention scheme and was granted business rates relief .
Accessing other government support had been “ challenging ” due to “ tight qualification constraints ” , the firm said .
“ To date we have been unable to access any further funding from these schemes , ” French Connection said in a statement this morning .
“ In the light of the Company ’ s current cash position and the continued expected weak trading environment , we have been in active discussions with a number of potential funding partners @ @ @ @ @ @ @ The board is confident of raising sufficient funds to support the business until the return of trading levels that are able to support the ongoing operations.
” Online sales were up 44 per cent over the last six weeks , and French Connection said it was beginning to see an increase in activity in Europe as lockdown restrictions have been eased .
The retailer is in talks with suppliers to secure extended payment terms and discounts , and with landlords to agree rent holidays or deferrals .

Oh FCUK: French Connection scrambles to secure funding as cash reserves dwindle
French Connection abandoned a sales process last year – but the Covid-19 pandemic has forced it to reconsider
Embattled retailer French Connection warned this morning that it could run out of cash within months due to the coronavirus crisis if it fails to secure extra funds.
French Connection, which abandoned hopes of a sale in January and instead announced a turnaround plan, said it is in talks with “a number of potential funding partners”.
The high street chain said without additional funding, and if trading continues to be impacted by the coronavirus pandemic, its cash resources will “eventually be eroded in the coming months”.
Talks are “proceeding well” and it has made “good progress” on agreeing terms and due diligence, the fashion retailer, which was once known for its provocative FCUK branding, said.
French Connection, which has not posted a pre-tax profit since the year ended 31 January 2012, reportedly turned down an offer from All Saints chief executive Stephen Craig and two private equity firms at the beginning of the year.
The company said today it had struggled to access government support, although it had furloughed employees through the job retention scheme and was granted business rates relief.
Accessing other government support had been “challenging” due to “tight qualification constraints”, the firm said.
“To date we have been unable to access any further funding from these schemes,” French Connection said in a statement this morning.
“In the light of the Company’s current cash position and the continued expected weak trading environment, we have been in active discussions with a number of potential funding partners,” French Connection said.
“The board is confident of raising sufficient funds to support the business until the return of trading levels that are able to support the ongoing operations.”
Online sales were up 44 per cent over the last six weeks, and French Connection said it was beginning to see an increase in activity in Europe as lockdown restrictions have been eased.
The retailer is in talks with suppliers to secure extended payment terms and discounts, and with landlords to agree rent holidays or deferrals.


cityam--2020-05-19--Donald Trump says he is taking hydroxychloroquine as anti-coronavirus measure

US president Donald Trump has revealed that he has been taking malaria treatment hydroxychloroquine as a preventative medicine against coronavirus despite medical warnings against the drug .
Speaking to reporters yesterday , the president revealed that he has been taking the treatment for the past week and a half .
Read more : Trump says Chinese companies could be forced to follow US accounting standards Trump was an early advocate of using the drug as a treatment for coronavirus , but studies showed that it was not helpful .
The US Food and Drug Administration subsequently issued a warning about @ @ @ @ @ @ @ said that it was aware that some patients who had been treated with the drug had suffered “ serious heart rhythm problems ” as a result .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
The septuagenarian said that he had asked the White House doctor whether he could take hydroxychloroquine as prophylactic against Covid-19 .
In a memo , the physician in question , Sean Conley , said : “ After numerous discussions he and I had regarding the @ @ @ @ @ @ @ hydroxychloroquine , we concluded the potential benefit from treatment outweighed the relative risks ” .
The Democratic speaker of the House of Representatives , Nancy Pelosi , said that she would “ rather ” the president did not take a treatment that had not been approved by scientists .
Read more : White House to shelve coronavirus task force as Trump targets reopening She said : “ He ’ s our president .
I would rather he not be taking something that has not been approved by the scientists , especially in his @ @ @ @ @ @ @ say weight group what is morbidly obese , they say.
” Democrat majority leader Chuck Schumer said that Trump ’ s move was “ reckless ” and would give people “ false hope ” .

Donald Trump says he is taking hydroxychloroquine as anti-coronavirus measure
US president Donald Trump has revealed that he has been taking malaria treatment hydroxychloroquine as a preventative medicine against coronavirus despite medical warnings against the drug.
Speaking to reporters yesterday, the president revealed that he has been taking the treatment for the past week and a half.
Trump was an early advocate of using the drug as a treatment for coronavirus, but studies showed that it was not helpful.
The US Food and Drug Administration subsequently issued a warning about the use of the treatment.
It said that it was aware that some patients who had been treated with the drug had suffered “serious heart rhythm problems” as a result.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
The septuagenarian said that he had asked the White House doctor whether he could take hydroxychloroquine as prophylactic against Covid-19.
In a memo, the physician in question, Sean Conley, said: “After numerous discussions he and I had regarding the evidence for and against the use of hydroxychloroquine, we concluded the potential benefit from treatment outweighed the relative risks”.
The Democratic speaker of the House of Representatives, Nancy Pelosi, said that she would “rather” the president did not take a treatment that had not been approved by scientists.
She said: “He’s our president. I would rather he not be taking something that has not been approved by the scientists, especially in his age group and his, shall we say weight group what is morbidly obese, they say.”
Democrat majority leader Chuck Schumer said that Trump’s move was “reckless” and would give people “false hope”.


cityam--2020-05-19--German finance minister: €500bn Recovery fund will help Europe exit crisis

Germany ’ s finance minister has said the proposed €500bn ( £450bn ) European recovery fund will help EU member states “ grow out of the crisis together ” .
Olaf Scholz ’ s statement came after German Chancellor Angela Merkel and French Prime Minister Emannuel Macron yesterday jointly suggested a €500bn fund in what was seen as a potential breakthrough for the bloc .
Read more : Coronavirus sends Eurozone economy to worst quarter on record Under Merkel and Macron ’ s radical plan , the European Commission would borrow the money by issuing bonds .
The sums would @ @ @ @ @ @ @ issuance .
The money would then be distributed as grants – rather than loans – to the countries that need it most .
It would then be paid back through the EU budget over a long time period .
Merkel said Berlin would bare roughly 27 per cent of the cost , as it does for the regular EU budget .
Germany and France were previously at an impasse over the recovery plan .
But Merkel and Macron ’ s showing of unity could be a breakthrough for the EU , which has @ @ @ @ @ @ @ Scholz today said : “ It ’ s good for the necessary consensus in Europe that Germany and France are making a joint proposal on this issue.
” He added : “ This new €500bn fund will make it possible for Europe to grow out of the crisis together and become stronger .
“ I think that ’ s a very good message not only for the economy and jobs but also for the future of the European Union.
” However , Merkel and Macron ’ s plan – announced at a joint @ @ @ @ @ @ @ some opposition .
Many traditionally fiscally conservative northern European states such as the Netherlands and Austria do not want money to be handed out as grants .
Austria ’ s chancellor Sebastian Kurz said Austria , the Netherlands , Denmark and Sweden would only accept a rescue fund that handed out loans .
It follows weeks of disagreements over whether a recovery fund should use “ coronabonds ” , jointly issued debt .
Many southern European states such as Italy , Spain and Portugal have pushed for them .
But Northern states such @ @ @ @ @ @ @ more : German economy shrinks at fastest pace since financial crisis The Merkel-Macron proposal is radical and likely to please southern European nations that have long called for direct transfers to help the EU economy .
Macron said : “ I believe this is a very deep transformation and that ’ s what the European Union and the single market needed to remain coherent .
It ’ s what the Eurozone needs to remain united .
”

German finance minister: €500bn Recovery fund will help Europe exit crisis
Finance minister Olaf Scholz has backed the Merkel-Macron plan
Germany’s finance minister has said the proposed €500bn (£450bn) European recovery fund will help EU member states “grow out of the crisis together”.
Olaf Scholz’s statement came after German Chancellor Angela Merkel and French Prime Minister Emannuel Macron yesterday jointly suggested a €500bn fund in what was seen as a potential breakthrough for the bloc.
Under Merkel and Macron’s radical plan, the European Commission would borrow the money by issuing bonds. The sums would dwarf the Commission’s previous debt issuance.
The money would then be distributed as grants – rather than loans – to the countries that need it most. It would then be paid back through the EU budget over a long time period. Merkel said Berlin would bare roughly 27 per cent of the cost, as it does for the regular EU budget.
Germany and France were previously at an impasse over the recovery plan. But Merkel and Macron’s showing of unity could be a breakthrough for the EU, which has been riven with disagreements over coronavirus.
Scholz today said: “It’s good for the necessary consensus in Europe that Germany and France are making a joint proposal on this issue.”
He added: “This new €500bn fund will make it possible for Europe to grow out of the crisis together and become stronger.
“I think that’s a very good message not only for the economy and jobs but also for the future of the European Union.”
However, Merkel and Macron’s plan – announced at a joint video conference yesterday – is already facing some opposition.
Many traditionally fiscally conservative northern European states such as the Netherlands and Austria do not want money to be handed out as grants.
Austria’s chancellor Sebastian Kurz said Austria, the Netherlands, Denmark and Sweden would only accept a rescue fund that handed out loans.
It follows weeks of disagreements over whether a recovery fund should use “coronabonds”, jointly issued debt. Many southern European states such as Italy, Spain and Portugal have pushed for them. But Northern states such as the Netherlands have objected.
The Merkel-Macron proposal is radical and likely to please southern European nations that have long called for direct transfers to help the EU economy.
Macron said: “I believe this is a very deep transformation and that’s what the European Union and the single market needed to remain coherent. It’s what the Eurozone needs to remain united.”


cityam--2020-05-19--Coronavirus: Over half of UK firms cannot reopen fully, survey shows

Almost 50 per cent of UK firms are only ready to partially reopen their businesses as the government lifts the coronavirus lockdown , a survey has shown , with one in 10 saying they can not restart at all due to Covid guidelines .
The survey , from the British Chambers of Commerce ( BCC ) , also showed that 85 per cent of UK firms have received money from the job retention scheme , laying bare the extent to which firms are relying on the government for their survival .
Read more : UK lockdown : Pedestrian activity soars @ @ @ @ @ @ @ to work It comes as politicians and think tanks battle it out over how best to achieve a speedy economic recovery once coronavirus is under control .
Free-market think tank the Adam Smith Institute today warned that government support measures must be “ phased out ” as soon as possible .
The BCC survey outlined how UK firms will struggle to reopen fully and follow government coronavirus safety guidelines .
Just 37 per cent of firms said they can fully restart operations by implementing government guidance , which encourages social distancing and extra @ @ @ @ @ @ @ contrast , 45 per cent of firms said they will only partially be able to reopen , with social distancing guidelines set to cause problems .
Meanwhile , 10 per cent of firms said they are not able to follow guidelines and restart at all .
Some companies in construction and manufacturing restarted work last week , after Prime Minister Boris Johnson eased some of the coronavirus restrictions and laid out a “ roadmap ” for further easing of the lockdown .
Schools and non-essential shops may be allowed to reopen from 1 @ @ @ @ @ @ @ is safe enough .
Hospitality businesses such as restaurants and pubs will not open until at least 1 July .
The government has produced guidelines for many different types of workplace on how to reopen safely .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
But the BCC survey highlights firms ’ misgivings about reopening .
Many say they will struggle to implement safety guidelines or simply will not be viable if capacity is reduced due to social distancing .
@ @ @ @ @ @ @ “ Some sectors still require greater clarity from the government on when and how they will be allowed to do so .
This is particularly the case for hospitality and leisure companies.
” The survey also showed how reliant UK companies are on the government amid the Covid-19 pandemic .
The BCC said 85 per cent of UK firms have now applied to and received money from the job retention scheme .
It pays 80 per cent of “ furloughed ” workers ’ wages up to £2,500 , and was recently extended until @ @ @ @ @ @ @ increasingly expressing their ideas about how to ensure a swift economic recovery .
The free-market Adam Smith Institute ( ASI ) last night said the “ extraordinary ” economic measures “ must not be allowed to become permanent ” .
In a report , the ASI said the job retention scheme should be adapted so that people are allowed to return to work .
It said the government could continue to top up the wages of people who are returning to work for firms that have suffered a big drop in revenue .
@ @ @ @ @ @ @ , but just 50 per cent of CBILS lending approved In the longer run , the ASI said the adapted job retention scheme that tops up salaries of people working reduced hours could be rolled into the Universal Credit benefits system .
The report also said “ microbusinesses ” with nine or fewer employees should be exempt from producing Covid-19 risk assessments before they reopen .

Coronavirus: Over half of UK firms cannot reopen fully, survey shows
The British Chambers of Commerce said hospitality businesses will find it particularly hard to reopen as coronavirus lockdown measures are lifted
Almost 50 per cent of UK firms are only ready to partially reopen their businesses as the government lifts the coronavirus lockdown, a survey has shown, with one in 10 saying they cannot restart at all due to Covid guidelines.
The survey, from the British Chambers of Commerce (BCC), also showed that 85 per cent of UK firms have received money from the job retention scheme, laying bare the extent to which firms are relying on the government for their survival.
It comes as politicians and think tanks battle it out over how best to achieve a speedy economic recovery once coronavirus is under control. Free-market think tank the Adam Smith Institute today warned that government support measures must be “phased out” as soon as possible.
The BCC survey outlined how UK firms will struggle to reopen fully and follow government coronavirus safety guidelines.
Just 37 per cent of firms said they can fully restart operations by implementing government guidance, which encourages social distancing and extra cleaning among numerous other measures.
By contrast, 45 per cent of firms said they will only partially be able to reopen, with social distancing guidelines set to cause problems. Meanwhile, 10 per cent of firms said they are not able to follow guidelines and restart at all.
Some companies in construction and manufacturing restarted work last week, after Prime Minister Boris Johnson eased some of the coronavirus restrictions and laid out a “roadmap” for further easing of the lockdown.
Schools and non-essential shops may be allowed to reopen from 1 June, if the government deems it is safe enough. Hospitality businesses such as restaurants and pubs will not open until at least 1 July.
The government has produced guidelines for many different types of workplace on how to reopen safely.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
But the BCC survey highlights firms’ misgivings about reopening. Many say they will struggle to implement safety guidelines or simply will not be viable if capacity is reduced due to social distancing.
BCC director general Adam Marshall said: “Some sectors still require greater clarity from the government on when and how they will be allowed to do so. This is particularly the case for hospitality and leisure companies.”
The survey also showed how reliant UK companies are on the government amid the Covid-19 pandemic. The BCC said 85 per cent of UK firms have now applied to and received money from the job retention scheme. It pays 80 per cent of “furloughed” workers’ wages up to £2,500, and was recently extended until October.
Politicians and think tanks are increasingly expressing their ideas about how to ensure a swift economic recovery. The free-market Adam Smith Institute (ASI) last night said the “extraordinary” economic measures “must not be allowed to become permanent”.
In a report, the ASI said the job retention scheme should be adapted so that people are allowed to return to work. It said the government could continue to top up the wages of people who are returning to work for firms that have suffered a big drop in revenue.
In the longer run, the ASI said the adapted job retention scheme that tops up salaries of people working reduced hours could be rolled into the Universal Credit benefits system.
The report also said “microbusinesses” with nine or fewer employees should be exempt from producing Covid-19 risk assessments before they reopen.