cityam--2020-09-30--Government gives parliament say over future Covid restrictions

The government has agreed to give parliament a level of oversight over future Covid restrictions that affect the whole country in a bid to quell a rebellion from backbench Tories .
Health secretary Matt Hancock said the government would “ consult parliament ” before announcing future England or UK-wide Covid restrictions and would “ wherever possible…hold votes before such regulations come into force ” .
Read more : Tory rebellion amendment will not be voted on by MPs He added : “ But of course responding to the virus means the government must act with speed when required and we @ @ @ @ @ @ @ are needed to control the virus and save lives.
” The proposed changes to the coronavirus legislation come after up to 80 Tory MPs were prepared to vote for an amendment to the bill that would have likely resulted in an embarassing defeat for Boris Johnson .
The amendment – which was drawn up by head of the 1922 committee of Tory backbenchers Sir Graham Brady – would have seen parliament have a final vote on every new coronavirus measure taken by the government .
Before the Open newsletter : Start your day @ @ @ @ @ @ @ market data The amendment was not chosen by Speaker Sir Lindsay Hoyle to be voted on by MPs today , however Downing Street still moved to quell the rising rebellion in the Conservative ranks .
“ I believe in the sovereignty of parliament and I believe scrutinised decisions are better decisions and I believe in this house as the cockpit of this nation , ” Hanock said .
Brady told MPs that he “ thanked ” the government for giving the House of Commons greater oversight over the country ’ s coronavirus response @ @ @ @ @ @ @ both sides of the House understand the importance of ministers to have freedom to act where necessary , but we are grateful that he and other members of the government understand the importance of proper scrutiny in this place and the benefits it can bring to government as well.
” Many of the Conservative parliamentary party ’ s libertarian and right-wing MPs have been disgruntled at the government ’ s willingness to swiftly apply new coronavirus restrictions , the amount the Treasury has spent during the pandemic and speculation that Rishi Sunak is @ @ @ @ @ @ @ Budget deficit .
A growing number of Tory MPs also believe the government ’ s latest Covid restrictions are too strict , with one telling City A.M. today that another national lockdown would lead to “ open rebellion ” on the Conservative benches .
“ This is becoming an economic crisis instead of a health crisis , ” they said .
Read more : One-third of London Tory MPs ready to rebel against PM on Covid powers Some of the new restrictions include a decree that all pubs in England have to keep @ @ @ @ @ @ @ hospitality venues have to “ take all reasonable measures ” to stop singing ” .
Inter-household mixing has also been banned in large parts of the North East , with much speculation that similar measures will be imposed on London .

Government gives parliament say over future Covid restrictions
LONDON, ENGLAND – SEPTEMBER 30: Prime Minister, Boris Johnson and Secretary of State for Health and Social Care, Matt Hancock walk from Downing Street for the weekly cabinet meeting to be held in the Foreign and Commonwealth Office on September 30, 2020 in London, England. (Photo by Leon Neal/Getty Images)
The government has agreed to give parliament a level of oversight over future Covid restrictions that affect the whole country in a bid to quell a rebellion from backbench Tories.
Health secretary Matt Hancock said the government would “consult parliament” before announcing future England or UK-wide Covid restrictions and would “wherever possible…hold votes before such regulations come into force”.
He added: “But of course responding to the virus means the government must act with speed when required and we cannot hold up urgent regulations which are needed to control the virus and save lives.”
The proposed changes to the coronavirus legislation come after up to 80 Tory MPs were prepared to vote for an amendment to the bill that would have likely resulted in an embarassing defeat for Boris Johnson.
The amendment – which was drawn up by head of the 1922 committee of Tory backbenchers Sir Graham Brady – would have seen parliament have a final vote on every new coronavirus measure taken by the government.
Before the Open newsletter: Start your day with the City View podcast and key market data
The amendment was not chosen by Speaker Sir Lindsay Hoyle to be voted on by MPs today, however Downing Street still moved to quell the rising rebellion in the Conservative ranks.
“I believe in the sovereignty of parliament and I believe scrutinised decisions are better decisions and I believe in this house as the cockpit of this nation,” Hanock said.
Brady told MPs that he “thanked” the government for giving the House of Commons greater oversight over the country’s coronavirus response.
He said: “Members on both sides of the House understand the importance of ministers to have freedom to act where necessary, but we are grateful that he and other members of the government understand the importance of proper scrutiny in this place and the benefits it can bring to government as well.”
Many of the Conservative parliamentary party’s libertarian and right-wing MPs have been disgruntled at the government’s willingness to swiftly apply new coronavirus restrictions, the amount the Treasury has spent during the pandemic and speculation that Rishi Sunak is considering tax rises to pay for the Budget deficit.
A growing number of Tory MPs also believe the government’s latest Covid restrictions are too strict, with one telling City A.M. today that another national lockdown would lead to “open rebellion” on the Conservative benches.
“This is becoming an economic crisis instead of a health crisis,” they said.
Some of the new restrictions include a decree that all pubs in England have to keep music under a certain level and that hospitality venues have to “take all reasonable measures” to stop singing”.
Inter-household mixing has also been banned in large parts of the North East, with much speculation that similar measures will be imposed on London.


cityam--2020-09-30--Creating a healthy City with The Lord Mayor's Appeal

The Lord Mayor ’ s Appeal ’ s This is Me initiative is focused on creating a City that is healthy .
It is committed to changing attitudes around mental health and strives to create healthier and more inclusive workplaces by reducing stigma , dispelling myths , and improving employee wellbeing for good .
This year we are marking World Mental Health Day on Saturday 10 October by asking people to share their stories and wear green ribbons to turn social media green – creating a visible movement of support across the globe for ending the stigma around mental health @ @ @ @ @ @ @ World Mental Health Day is ‘ Greater Investment – Greater Access .
Everyone , everywhere.
’ It demonstrates how important it is to widen access and participation to mental health for all people , no matter who they The overall objective of the day is to raise awareness of mental health issues around the world and mobilise efforts in support of mental health .
So , for this year ’ s event , we have created materials and assets to support you to develop your activity internally and show your commitment to ending @ @ @ @ @ @ @ global campaign , enabling your employees to come together wherever they are .
We want to help you to ; • Share stories to # endthestigma for everyone , everywhere .
• Wear a Green Ribbon to # endthestigma for everyone , everywhere .
• Give a Green Ribbon to # endthestigma for everyone , everywhere .
We have developed a range of resources to support you in your celebrations of World Mental Health Day , available here , and below we have explained some of the activities that you can take part @ @ @ @ @ @ @ to join us to # endthestigma around mental health for everyone , everywhere .
Our research shows that sharing stories from employees who have experienced mental health challenges is one of the most powerful ways to open up the conversation , reduce the stigma and create a culture within an organisation that is supportive of mental health .
Sharing employee stories may feel harder when we are working remotely but there are some great ways to ask your employees to share digitally .
You can ask employees to share their experiences via blogs @ @ @ @ @ @ @ such as a tea and talk .
Why not join us for our next webinar in our 2020 series , How to get senior management buy-in , being held on Wednesday 30 September at 12.00pm – 12.45pm ?
This webinar will provide practical advice and tips on how to get senior management buy-in .
Hear from our This is Me businesses on the approach they took , what their journey looked like , and the impact having senior management buy-in has had on their This is Me campaign .
Sign up here .
@ @ @ @ @ @ @ receive our How to Guide on creating a This is Me storytelling campaign in your workplace .
Green Ribbons are back !
For colleagues that have already returned to the office , Green Ribbons and Green Ribbon pin badges are available to order , taking around one week to arrive .
Get your Green Ribbons here and wear it with pride .
Use our Profile Picture Frame to add the Green Ribbon to your social media profile picture .
Update your social media cover photo to demonstrate your support to The Green Ribbon @ @ @ @ @ @ @ followers talking .
Get your LinkedIn Green Ribbon cover photos here and your Twitter cover photo here .
Show your support online with the Green Ribbon email signature by adding the Green Ribbon email signature to your emails to # endthestigma in every mailing in the run up to World Mental Health Day .
Connect with others using the Give a Green Ribbon image and messaging .
Share this image with five of your colleagues , or people in your network to let them know you ’ re thinking about them .
This @ @ @ @ @ @ @ spoken to in a long time , or someone you speak to all the time but miss !
Don ’ t forget to use # endthestigma + # [ your city ] so that we can see how far the Green Ribbon travels across the UK and globally !
Create a film of your organization passing a Green Ribbon through your global offices For Mental Health Awareness Week , Acuris created a video virtually passing their origami Green Ribbons around their offices globally .
You can watch it here .
For World Mental @ @ @ @ @ @ @ , we ’ d like your organisation to do the same to capitalise on the worldwide focus .
First , use our Origami Green Ribbon template to create a Green Ribbon .
Then ask your team to film a short clip on a laptop webcam or phone camera , of themselves receiving the Green Ribbon on one side of the screen , and passing it to the other .
Next , stitch them all together and you ’ ll have a video giving the Green Ribbon to # endthestigma for everyone , everywhere @ @ @ @ @ @ @ it to social media and tag us on LinkedIn , Twitter , Instagram and Facebook , with # endthestigma + the cities that your colleagues are in ( e.g .
# endthestigma # Edinburgh # London # Manchester ) , so that we can see it how far the Green Ribbon has travelled !

Sponsored Ad Feature is produced by an advertiser with the specific intent to promote a product and is not produced by the City A.M. team.
Creating a healthy City with The Lord Mayor’s Appeal
The Lord Mayor’s Appeal’s This is Me initiative is focused on creating a City that is healthy. It is committed to changing attitudes around mental health and strives to create healthier and more inclusive workplaces by reducing stigma, dispelling myths, and improving employee wellbeing for good.
This year we are marking World Mental Health Day on Saturday 10 October by asking people to share their stories and wear green ribbons to turn social media green – creating a visible movement of support across the globe for ending the stigma around mental health.
The theme for 2020’s World Mental Health Day is ‘Greater Investment – Greater Access. Everyone, everywhere.’ It demonstrates how important it is to widen access and participation to mental health for all people, no matter who they The overall objective of the day is to raise awareness of mental health issues around the world and mobilise efforts in support of mental health.
So, for this year’s event, we have created materials and assets to support you to develop your activity internally and show your commitment to ending the stigma by being part of a global campaign, enabling your employees to come together wherever they are.
We want to help you to;
Share stories to #endthestigma for everyone, everywhere. Wear a Green Ribbon to #endthestigma for everyone, everywhere. Give a Green Ribbon to #endthestigma for everyone, everywhere.
We have developed a range of resources to support you in your celebrations of World Mental Health Day, available here, and below we have explained some of the activities that you can take part in.
We hope you are able to join us to #endthestigma around mental health for everyone, everywhere.
Share your story
Our research shows that sharing stories from employees who have experienced mental health challenges is one of the most powerful ways to open up the conversation, reduce the stigma and create a culture within an organisation that is supportive of mental health. Sharing employee stories may feel harder when we are working remotely but there are some great ways to ask your employees to share digitally. You can ask employees to share their experiences via blogs, or through holding virtual events, such as a tea and talk.
Why not join us for our next webinar in our 2020 series, How to get senior management buy-in, being held on Wednesday 30 September at 12.00pm – 12.45pm? This webinar will provide practical advice and tips on how to get senior management buy-in. Hear from our This is Me businesses on the approach they took, what their journey looked like, and the impact having senior management buy-in has had on their This is Me campaign.
Sign up here.
Register for This is Me here to receive our How to Guide on creating a This is Me storytelling campaign in your workplace.
Wear a physical Green Ribbon
Green Ribbons are back! For colleagues that have already returned to the office, Green Ribbons and Green Ribbon pin badges are available to order, taking around one week to arrive. Get your Green Ribbons here and wear it with pride.
Wear a Green Ribbon on your profile picture
Use our Profile Picture Frame to add the Green Ribbon to your social media profile picture.
Change your cover photo
Update your social media cover photo to demonstrate your support to The Green Ribbon campaign visibly and get your contacts and followers talking. Get your LinkedIn Green Ribbon cover photos here and your Twitter cover photo here.
Special signature
Show your support online with the Green Ribbon email signature by adding the Green Ribbon email signature to your emails to #endthestigma in every mailing in the run up to World Mental Health Day.
Give a Green Ribbon
Connect with others using the Give a Green Ribbon image and messaging. Share this image with five of your colleagues, or people in your network to let them know you’re thinking about them. This can be someone you haven’t spoken to in a long time, or someone you speak to all the time but miss! Don’t forget to use #endthestigma + #[your city] so that we can see how far the Green Ribbon travels across the UK and globally!
Create a film of your organization passing a Green Ribbon through your global offices
For Mental Health Awareness Week, Acuris created a video virtually passing their origami Green Ribbons around their offices globally. You can watch it here.
For World Mental Health Day, on 10 October 2020, we’d like your organisation to do the same to capitalise on the worldwide focus. First, use our Origami Green Ribbon template to create a Green Ribbon. Then ask your team to film a short clip on a laptop webcam or phone camera, of themselves receiving the Green Ribbon on one side of the screen, and passing it to the other. Next, stitch them all together and you’ll have a video giving the Green Ribbon to #endthestigma for everyone, everywhere!
Don’t forget to upload it to social media and tag us on LinkedIn, Twitter, Instagram and Facebook, with #endthestigma + the cities that your colleagues are in (e.g. #endthestigma #Edinburgh #London #Manchester), so that we can see it how far the Green Ribbon has travelled!


cityam--2020-09-30--G4S rejects clone Gardaworld bid as takeover pursuit goes on

G4S has rejected another takeover bid from Gardaworld , once again saying that the £3bn offered “ significantly undervalues ” the company .
This morning , the Canadian firm submitted a fourth bid for the outsourcer at an offer price of 190p per share , the same price that was tabled at the end of August .
In a statement , G4S chairman John Connolly said that the board had unanimously rejected the bid .
“ The unsolicited 190p offer launched today by Gardaworld is unchanged from the proposal that has already been carefully considered and unanimously rejected by the @ @ @ @ @ @ @ and its prospects ” , he said .
“ Since rejecting Gardaworld ’ s last proposal , G4S has announced continuing resilience in its trading with underlying earnings ahead of the prior year for the first eight months of 2020.
” The board added that the bid was “ highly opportunistic ” and was not in the best interests of its shareholders .
Before the Open newsletter : Start your day with the City View podcast and key market data Shares in the firm jumped 5.8 per cent in the immediate aftermath of @ @ @ @ @ @ @ to 200p .
Gardaworld ’ s relentless pursuit of G4S has seen it have two offers rejected already .
In June , it first bid at 145p per share and then followed up with an improved 153p per share offer .
Gardaworld is the largest privately owned security services firm in the world , and employs more than 102,000 people globally .
The firm , which is 51 per cent owned by private equity fund BC Partners , has repeatedly urged G4S shareholders to ask the board to enter into negotiations over a @ @ @ @ @ @ @ was rejected , chief exec Stephen Cretier said : “ needs an owner not a manager .
GardaWorld has 25 years of experience in the sector and we know how to improve and repurpose this business.
” “ As owner-operators , we believe that the combined business ’ s operations will offer a better future for all those who depend on G4S .
We will turn G4S around , ensuring it delivers for its customers , its people and the public .
”

G4S rejects clone Gardaworld bid as takeover pursuit goes on
G4S has rejected another takeover bid from Gardaworld, once again saying that the £3bn offered “significantly undervalues” the company.
This morning, the Canadian firm submitted a fourth bid for the outsourcer at an offer price of 190p per share, the same price that was tabled at the end of August.
In a statement, G4S chairman John Connolly said that the board had unanimously rejected the bid.
“The unsolicited 190p offer launched today by Gardaworld is unchanged from the proposal that has already been carefully considered and unanimously rejected by the G4S board as significantly undervaluing the company and its prospects”, he said.
“Since rejecting Gardaworld’s last proposal, G4S has announced continuing resilience in its trading with underlying earnings ahead of the prior year for the first eight months of 2020.”
The board added that the bid was “highly opportunistic” and was not in the best interests of its shareholders.
Before the Open newsletter: Start your day with the City View podcast and key market data
Shares in the firm jumped 5.8 per cent in the immediate aftermath of the announcement, taking its stock price to 200p.
Gardaworld’s relentless pursuit of G4S has seen it have two offers rejected already. In June, it first bid at 145p per share and then followed up with an improved 153p per share offer.
Gardaworld is the largest privately owned security services firm in the world, and employs more than 102,000 people globally.
The firm, which is 51 per cent owned by private equity fund BC Partners, has repeatedly urged G4S shareholders to ask the board to enter into negotiations over a potential deal.
When the last bid was rejected, chief exec Stephen Cretier said: “needs an owner not a manager. GardaWorld has 25 years of experience in the sector and we know how to improve and repurpose this business.”
“As owner-operators, we believe that the combined business’s operations will offer a better future for all those who depend on G4S. We will turn G4S around, ensuring it delivers for its customers, its people and the public.”


cityam--2020-10-01--Exclusive: Unilever's Kingston campus plans unveiled

Plans have been unveiled for a new Unilever headquarters in Kingston-upon-Thames , which will consolidate the conglomerate ’ s offices across London and Surrey .
The developer , Cube Real Estate , has submitted a planning application for a mixed-use redevelopment , including two office buildings , a car park for electric vehicles and new homes .
If the scheme is given the green light the consumer goods giant , which owns Persil , Dove and Marmite , will move in at the end of 2023 or beginning of 2024 .
The move will consolidate 2,000 members of staff from @ @ @ @ @ @ @ , including many from its Victoria Embankment headquarters .
Unilever will keep some space at its central London HQ for meeting rooms and for its “ prestige ” premium beauty brands .
Sebastian Munden , executive vice president of Unilever UK and Ireland , said , “ Following consultation with our employees , we are excited to work with Cube on a Unilever Campus in Kingston .
“ For Unilever , this represents a rare opportunity to bring together teams in a highly sustainable , accessible and inspiring office designed for future ways @ @ @ @ @ @ @ hive of collaboration for our employees , and for retailers , suppliers , consumers and other organisations.
” In June the firm announced plans to end its joint Anglo-Dutch structure to unify under its UK listing , after failing to persuade British investors to approve a shift to its Amsterdam HQ in 2018 .
Read more : Unilever to remove all fossil fuels from cleaning products by 2030 The consumer goods giant will swap Dutch shares for its London-listed Unilever PLC stock , with Unilever PLC becoming the single parent company it will @ @ @ @ @ @ @ consumer goods behemoth failed to abolish its London headquarters and move its primary listing to the Netherlands amid huge investor opposition .

Exclusive: Unilever’s Kingston campus plans unveiled
Plans have been unveiled for a new Unilever headquarters in Kingston-upon-Thames, which will consolidate the conglomerate’s offices across London and Surrey.
The developer, Cube Real Estate, has submitted a planning application for a mixed-use redevelopment, including two office buildings, a car park for electric vehicles and new homes.
If the scheme is given the green light the consumer goods giant, which owns Persil, Dove and Marmite, will move in at the end of 2023 or beginning of 2024.
The move will consolidate 2,000 members of staff from five existing sites in London and Surrey, including many from its Victoria Embankment headquarters.
Unilever will keep some space at its central London HQ for meeting rooms and for its “prestige” premium beauty brands.
Sebastian Munden, executive vice president of Unilever UK and Ireland, said, “Following consultation with our employees, we are excited to work with Cube on a Unilever Campus in Kingston.
Farewell Rotterdam: Unilever previously announced plans to end its joint Anglo-Dutch structure to unify under its UK listing
“For Unilever, this represents a rare opportunity to bring together teams in a highly sustainable, accessible and inspiring office designed for future ways of working, which will be a hive of collaboration for our employees, and for retailers, suppliers, consumers and other organisations.”
In June the firm announced plans to end its joint Anglo-Dutch structure to unify under its UK listing, after failing to persuade British investors to approve a shift to its Rotterdam HQ in 2018.
The consumer goods giant will swap Dutch shares for its London-listed Unilever PLC stock, with Unilever PLC becoming the single parent company it will unify under.
It comes after the consumer goods behemoth failed to abolish its London headquarters and move its primary listing to the Netherlands amid huge investor opposition.


cityam--2020-10-01--Give e-scooters the green light, lawmakers urge

MPs have called on the government to legalise e-scooters in the UK , saying that they could offer a low-cost and environmentally friendly alternative to cars .
In July , transport secretary Grant Shapps brought forward 12-month long trials of the vehicles in light of the coronavirus pandemic .
Read more : Voi to roll out first UK e-scooter trial in Cambridge Trials have been already announced in four parts of the country – Tees Valley , Milton Keynes Borough , Northamptonshire , and the West Midlands – with more expected to be confirmed .
In a new report released @ @ @ @ @ @ @ lawmakers said that e-scooters should be added to the country ’ s future transport mix .
However , the report said that robust enforcement measures should be put in place to eliminate pavement use of e-scooters , which is “ dangerous and anti-social ” .
“ If the government supports the committee ’ s recommendation and decides to legalise privately owned e-scooters , the law should clearly prohibit their use on pavements and ensure that such enforcement measures are effective in eliminating this behaviour ” , it said .
Before the Open newsletter @ @ @ @ @ @ @ View podcast and key market data It also said that the introduction of the vehicles should be complemented by a sensible and proportionate regulatory framework based on the results of the current trial .
Committee chair Huw Merriman said : “ The UK remains the last major European economy where e-scooters are still banned to use anywhere except on private land and their use on UK roads is currently illegal .
“ That is still a matter of surprise to many , as we see the numbers grow on our streets alongside the @ @ @ @ @ @ @ “ E-scooters have the potential to become an exciting and ingenious way to navigate our streets and get from place to place .
If this gets people out of the car , reducing congestion and exercising in the open air , then even better.
” Read more : The City View podcast : Why coronavirus is making the case for e-scooters He added that the current trials should be opened up to as many people as possible and in as wide a variety of settings as possible .
Although those taking part in @ @ @ @ @ @ @ licenses , the committee said that if e-scooters were legalised this should not be necessary .

Give e-scooters the green light, lawmakers urge
Private e-scooters are set to be legalised
MPs have called on the government to legalise e-scooters in the UK, saying that they could offer a low-cost and environmentally friendly alternative to cars.
In July, transport secretary Grant Shapps brought forward 12-month long trials of the vehicles in light of the coronavirus pandemic.
Trials have been already announced in four parts of the country – Tees Valley, Milton Keynes Borough, Northamptonshire, and the West Midlands – with more expected to be confirmed.
In a new report released today by the Transport Select Committee, lawmakers said that e-scooters should be added to the country’s future transport mix.
However, the report said that robust enforcement measures should be put in place to eliminate pavement use of e-scooters, which is “dangerous and anti-social”.
“If the government supports the committee’s recommendation and decides to legalise privately owned e-scooters, the law should clearly prohibit their use on pavements and ensure that such enforcement measures are effective in eliminating this behaviour”, it said.
Before the Open newsletter: Start your day with the City View podcast and key market data
It also said that the introduction of the vehicles should be complemented by a sensible and proportionate regulatory framework based on the results of the current trial.
Committee chair Huw Merriman said: “The UK remains the last major European economy where e-scooters are still banned to use anywhere except on private land and their use on UK roads is currently illegal.
“That is still a matter of surprise to many, as we see the numbers grow on our streets alongside the Department’s permitted rental trials.
“E-scooters have the potential to become an exciting and ingenious way to navigate our streets and get from place to place. If this gets people out of the car, reducing congestion and exercising in the open air, then even better.”
He added that the current trials should be opened up to as many people as possible and in as wide a variety of settings as possible.
Although those taking part in the trials were required to have driving licenses, the committee said that if e-scooters were legalised this should not be necessary.


cityam--2020-10-01--Quarantine: Turkey and Poland added to self-isolation list

People arriving in England from Turkey and Poland will have to self-isolate for 14 days from the early hours of Saturday morning after the countries were added to the UK quarantine list .
Transport secretary Grant Shapps said that those coming back from the countries , as well Bonaire , St Eustatius and Saba , would have to quarantine .
Read more : Wizz Air cuts capacity to 50 per cent as quarantine hits demand He warned that the government was increasing the fines for those people who did not obey the rules to self-isolate .
The maximum fine for @ @ @ @ @ @ @ , he said .
As a result of the new additions , almost all of mainland Europe has been added to the Government ’ s “ red list ” .
Two notable exceptions , Italy and Mainland Greece , were thought to be at risk of being added to the list because their infection rates had equalled or surpassed the 20 per 100,000 mark the Government considers dangerous .
However , their travel corridors to the UK remain open .
The new rules had an almost-instant effect on airfares back from Turkey .
@ @ @ @ @ @ @ airports before the quarantine rules come into effect are reported to be more than £500 .
Manchester Airports Group , which also owns London Stanstead and East Midlands airports , said the new addition is a “ further blow to the already struggling aviation sector “ .
“ Poland and Turkey are hugely popular destinations , and their removal from the safe travel list means that a large proportion of the markets our passengers usually travel to are now effectively closed-off , despite many of them having much lower infection rates than the @ @ @ @ @ @ @ .
In a statement this afternoon the Department for Transport said the Turkish Health Ministry has been defining the number of new Covid-19 cases in a different way to international organisations such as the WHO .
The risk assessment for Turkey was “ updated to reflect the likely impact of this on the data for incidence and test positivity rates ” .
Read more : IATA calls for worldwide airport testing to replace quarantine Meanwhile , Poland has recorded a 66 per cent increase in weekly cases per 100,000 people .
An Ipsos-Mori @ @ @ @ @ @ @ that a large majority of Britons were “ very likely or certain ” that they will follow government guidelines .
71 per cent said they would quarantine if they returned from a country without a “ travel corridor ” .

Quarantine: Turkey and Poland added to self-isolation list
Arrivals from Turkey and Poland will be forced to self-isolate from Saturday, Transport Secretary Grant Shapps said.
People arriving in England from Turkey and Poland will have to self-isolate for 14 days from the early hours of Saturday morning after the countries were added to the UK quarantine list.
Transport secretary Grant Shapps said that those coming back from the countries, as well Bonaire, St Eustatius and Saba, would have to quarantine.
He warned that the government was increasing the fines for those people who did not obey the rules to self-isolate.
The maximum fine for repeat offenders has been set at £10,000, he said.
As a result of the new additions, almost all of mainland Europe has been added to the Government’s “red list”.
English tourists can travel to just seven European countries without incurring quarantines or mandatory testing at either end.
Two notable exceptions, Italy and Mainland Greece, were thought to be at risk of being added to the list because their infection rates had equalled or surpassed the 20 per 100,000 mark the Government considers dangerous.
However, their travel corridors to the UK remain open.
Easyjet and Ryanair shares dropped as markets opened this morning on the news.
The new rules had an almost-instant effect on airfares back from Turkey.
The cheapest seats back from major Turkish airports before the quarantine rules come into effect are reported to be more than £500.
Tourists view the ruins of the Library of Celsus in the ancient city of Ephesus
A further blow
Manchester Airports Group, which also owns London Stanstead and East Midlands airports, said the new addition is a “further blow to the already struggling aviation sector“.
“Poland and Turkey are hugely popular destinations, and their removal from the safe travel list means that a large proportion of the markets our passengers usually travel to are now effectively closed-off, despite many of them having much lower infection rates than the UK,” the airport operator said.
In a statement this afternoon the Department for Transport said the Turkish Health Ministry has been defining the number of new Covid-19 cases in a different way to international organisations such as the WHO.
The risk assessment for Turkey was “updated to reflect the likely impact of this on the data for incidence and test positivity rates”.
Meanwhile, Poland has recorded a 66 per cent increase in weekly cases per 100,000 people.
An Ipsos-Mori survey published yesterday by the BBC showed that a large majority of Britons were “very likely or certain” that they will follow government guidelines. 71 per cent said they would quarantine if they returned from a country without a “travel corridor”.


cityam--2020-10-01--Tory MP paid £25,000 to speak about convicted sex offender ex-husband

Tory MP Natalie Elphicke was paid £25,000 for a tabloid article on her convicted sex offender ex-husband Charlie Elphicke , it has been revealed .
Natalie was paid the fee by The Sun in August .
to speak about her marriage with Charlie , who is serving a two-year prison sentence .
Read more : Tory rebellion amendment will not be voted on by MPs Charlie – who was a Tory MP for Dover for nine years – was found guilty of sexual assault , after repeatedly groping one of his accusers and chasing her around the house while singing @ @ @ @ @ @ @ , I ’ m a naughty Tory ” .
Natalie , who left her ex-husband minutes after he was found guilty , details in the article that “ the case has been really unpleasant , horrible , upsetting and humiliating ” .
Before the Open newsletter : Start your day with the City View podcast and key market data “ It was just awful , ” she said .
The Spectator revealed yesterday that the latest register of MPs ’ interests showed that Natalie was paid £25,000 by The Sun ’ s owner @ @ @ @ @ @ @ two newspaper articles ” and 12 hours ’ work .
Natalie said today : “ These payments have been promptly and transparently declared on the Members Register of Interests , as is rightly required of all MPs.
” Read more : London prepares for further lockdown restrictions as coronavirus cases escalate Charlie Elphicke was MP for Dover between 2010 and 2019 .
He stood down at the last election , after being charged with sexual assault , with Natalie replacing him as the party ’ s candidate at the December election .

Tory MP paid £25,000 to speak about convicted sex offender ex-husband
Natalie Elphicke is the MP for Dover
Tory MP Natalie Elphicke was paid £25,000 for a tabloid article on her convicted sex offender ex-husband Charlie Elphicke, it has been revealed.
Natalie was paid the fee by The Sun in August. to speak about her marriage with Charlie, who is serving a two-year prison sentence.
Charlie – who was a Tory MP for Dover for nine years – was found guilty of sexual assault, after repeatedly groping one of his accusers and chasing her around the house while singing “I’m a naughty Tory, I’m a naughty Tory”.
Natalie, who left her ex-husband minutes after he was found guilty, details in the article that “the case has been really unpleasant, horrible, upsetting and humiliating”.
Before the Open newsletter: Start your day with the City View podcast and key market data
“It was just awful,” she said.
The Spectator revealed yesterday that the latest register of MPs’ interests showed that Natalie was paid £25,000 by The Sun’s owner News UK on 26 August for “two newspaper articles” and 12 hours’ work.
Natalie said today: “These payments have been promptly and transparently declared on the Members Register of Interests, as is rightly required of all MPs.”
Charlie Elphicke was MP for Dover between 2010 and 2019.
He stood down at the last election, after being charged with sexual assault, with Natalie replacing him as the party’s candidate at the December election.


cityam--2020-10-01--US airlines put 32,000 staff on unpaid leave

The US ’ biggest airlines have begun to put their employees on unpaid leave as the wait for a new economic stimulus package goes on .
American Airlines and United Airlines said that they would place 32,000 workers on such arrangements amid gridlock at the US Capitol on a new deal .
Read more : Bring in airport testing by end of the month or risk ‘ ruin ’ , airline bosses warn American will furlough 19,000 employees , including some 1,600 pilots .
More than 13,000 United employees will be on furlough , but not any pilots following an @ @ @ @ @ @ @ said that they stood ready to reverse the decision if a deal could be agreed .
U.S. airlines are operating about half their 2019 flying schedules and suffering a 68 per cent decline in passenger numbers .
Before the Open newsletter : Start your day with the City View podcast and key market data Hopes were briefly raised last night when US President Donald Trump unveiled a new proposal worth $ 1.5 trillion .
Included in this is a $ 20bn extension of support for US airlines , which have already been given @ @ @ @ @ @ @ original sum , which was designed to protect jobs , ran out at midnight last night .
Under the conditions of the package , airlines were required to keep staff on to receive money .
Read more : American Airlines to cut 19,000 jobs unless extra aid released However , negotiations between the White House and the Democrats in Congress remain stuck .
The latter are demanding a larger package , worth up to $ 2.2bn , while the Trump administration is sticking to its guns .

US airlines put 32,000 staff on unpaid leave
The US’ biggest airlines have begun to put their employees on unpaid leave as the wait for a new economic stimulus package goes on.
American Airlines and United Airlines said that they would place 32,000 workers on such arrangements amid gridlock at the US Capitol on a new deal.
American will furlough 19,000 employees, including some 1,600 pilots. More than 13,000 United employees will be on furlough, but not any pilots following an agreement reached this week.
Both carriers said that they stood ready to reverse the decision if a deal could be agreed.
U.S. airlines are operating about half their 2019 flying schedules and suffering a 68 per cent decline in passenger numbers.
Before the Open newsletter: Start your day with the City View podcast and key market data
Hopes were briefly raised last night when US President Donald Trump unveiled a new proposal worth $1.5 trillion.
Included in this is a $20bn extension of support for US airlines, which have already been given $25bn in state support.
The original sum, which was designed to protect jobs, ran out at midnight last night. Under the conditions of the package, airlines were required to keep staff on to receive money.
However, negotiations between the White House and the Democrats in Congress remain stuck.
The latter are demanding a larger package, worth up to $2.2bn, while the Trump administration is sticking to its guns.


cityam--2020-10-01--US senate votes to subpoena tech bosses to testify

US tech bosses will be hauled in front of congress after a senate committee voted to compel them to testify .
Facebook chief executive Mark Zuckerberg , Google chief executive Sundar Pichai and Twitter chief executive Jack Dorsey will be questioned on reforming Section 230 of the Communications Decency Act .
Read more : Tax system gives tech giants ‘ unfair advantage ’ , says Publicis boss The act shields social media firms from liability over content posted by users .
The will also be quizzed on privacy and competition concerns after the US Senate Commerce Committee unanimously voted to @ @ @ @ @ @ @ , chaired by Republican senator Roger Wicker , had originally asked the executives to come today on a voluntary basis and was ready to issue subpoenas last week .
On Thursday , he said Section 230 ’ s “ sweeping liability protections ” are stifling diversity of political discourse on the internet .
“ After extending an invite to these executives , I regret that they have again declined to participate and answer questions about issues that are so visible and urgent to the American people , ” Wicker said .
Read more @ @ @ @ @ @ @ over alleged patent infringement The chief executives of Google , Facebook , Apple and Amazon recently testified before the House of Representatives Judiciary Committee ’ s antitrust panel .
The panel , which is investigating how the companies ’ practices hurt rivals , is expected to release its report as early as next Monday .

US senate votes to subpoena tech bosses to testify
US tech bosses will be hauled in front of congress after a senate committee voted to compel them to testify.
Facebook chief executive Mark Zuckerberg, Google chief executive Sundar Pichai and Twitter chief executive Jack Dorsey will be questioned on reforming Section 230 of the Communications Decency Act.
The act shields social media firms from liability over content posted by users.
The will also be quizzed on privacy and competition concerns after the US Senate Commerce Committee unanimously voted to subpoena the tech bosses.
The committee, chaired by Republican senator Roger Wicker, had originally asked the executives to come today on a voluntary basis and was ready to issue subpoenas last week.
On Thursday, he said Section 230’s “sweeping liability protections” are stifling diversity of political discourse on the internet.
“After extending an invite to these executives, I regret that they have again declined to participate and answer questions about issues that are so visible and urgent to the American people,” Wicker said.
The chief executives of Google, Facebook, Apple and Amazon recently testified before the House of Representatives Judiciary Committee’s antitrust panel.
The panel, which is investigating how the companies’ practices hurt rivals, is expected to release its report as early as next Monday.


cityam--2020-10-01--Global oil prices plunge over fresh demand fears

Global oil prices dropped sharply this afternoon amid fears that the continuing rise in coronavirus cases would drive demand down again .
Worldwide standard Brent crude lost 5.2 per cent to trade at $ 40.05 , while US benchmark West Texas Intermediate dropped six per cent to stand at $ 37.75 .
Read more : Premier Oil seeks to lower price of BP purchases for a second time Earlier this week , the number of people who have died from the disease around the world passed 1m , with infections continuing to climb .
As a result , governments are @ @ @ @ @ @ @ a fresh threat to the nascent economic recovery .
In addition oil producer cartel Opec said that output had increased by 160,000 barrels a day in September , further heaping downward pressure on the market .
The rise was largely on the back of higher supplies from Libya and Iran , both exempt from an oil supply pact between OPEC and allies led by Russia , a grouping known as OPEC+ .
Before the Open newsletter : Start your day with the City View podcast and key market data Rystad Energy ’ s @ @ @ @ @ @ @ that the recovery in the first half of the year had now been “ muted ” .
“ Amid the rise of infections and Covid-19 ’ s second wave , thinking of the restrictions that are being put in place again and of the ones that are coming , traders see oil demand as fragile .
“ Indeed , the recovery that started in the first half is now muted and we may see some production needing to be sent to inventories in 2020 ’ s last quarter .
“ While demand struggles @ @ @ @ @ @ @ .
OPEC+ has not decided to amend its cuts to address the worsening market situation , even though it is surely monitoring it.
” Read more : Oil prices reverse losses as Opec cracks down on over production Today ’ s sharp price fall raises the spectre of April ’ s historic price volatility , in which prices flipped into the negative for the first time in history .
Since then prices have trended upwards to stand at roughly two-thirds of pre-pandemic levels .

Global oil prices plunge over fresh demand fears
Global oil prices dropped sharply this afternoon amid fears that the continuing rise in coronavirus cases would drive demand down again.
Worldwide standard Brent crude lost 5.2 per cent to trade at $40.05, while US benchmark West Texas Intermediate dropped six per cent to stand at $37.75.
Earlier this week, the number of people who have died from the disease around the world passed 1m, with infections continuing to climb.
As a result, governments are bringing back more extreme lockdown restrictions in a fresh threat to the nascent economic recovery.
In addition oil producer cartel Opec said that output had increased by 160,000 barrels a day in September, further heaping downward pressure on the market.
The rise was largely on the back of higher supplies from Libya and Iran, both exempt from an oil supply pact between OPEC and allies led by Russia, a grouping known as OPEC+.
Before the Open newsletter: Start your day with the City View podcast and key market data
Rystad Energy’s senior oil markets analyst Paola Rodriguez-Masiu said that the recovery in the first half of the year had now been “muted”.
“Amid the rise of infections and Covid-19’s second wave, thinking of the restrictions that are being put in place again and of the ones that are coming, traders see oil demand as fragile.
“Indeed, the recovery that started in the first half is now muted and we may see some production needing to be sent to inventories in 2020’s last quarter.
“While demand struggles to keep up, supply is rising. OPEC+ has not decided to amend its cuts to address the worsening market situation, even though it is surely monitoring it.”
Today’s sharp price fall raises the spectre of April’s historic price volatility, in which prices flipped into the negative for the first time in history.
Since then prices have trended upwards to stand at roughly two-thirds of pre-pandemic levels.


cityam--2020-10-01--London can't survive widespread home working, says Tory mayoral candidate

Londoners must get back to their workplaces to save the economic future of the city , according to Tory mayoral candidate Shaun Bailey .
Bailey wrote for City A.M. today that the capital needs to ditch advice from the government and Sadiq Khan that people should work from home where possible , adding that he does not “ believe coronavirus is a good reason to put hundreds of thousands of jobs at risk ” .
Read more : Tory mayoral candidate calls for TfL to sell Tube station naming rights Sixty-nine per cent of Londoners are still working from home @ @ @ @ @ @ @ in Paris and 25 per cent in Berlin .
Tube numbers in the capital are also still down by around 65 per cent and footfall on central London ’ s High Streets is a fraction of normal times , which has in turn imperiled thousands of businesses .
These numbers are unlikely to rise after the government encouraged everyone in England two weeks ago to work from home where possible as the country ’ s second coronavirus wave began to hit .
Before the Open newsletter : Start your day with the City @ @ @ @ @ @ @ new recommendation came as people were beginning to slowly repopulate central London offices , after months of working from home .
Bailey said “ the more restrictions people face , the more our city is unable to function ” .
He added : “ If we keep introducing new restrictions on businesses and workers , we ’ re putting livelihoods at risk — from small businesses to people who were struggling long before coronavirus hit.
” He also took aim at Khan for not doing more to get people back into their workplaces @ @ @ @ @ @ @ last month that the capital would not look anything like normal this year , and that offices could not fill up with the government ’ s current social distancing guidelines .
Khan also said it would be “ reckless ” to have 100 per cent of people back to their workplaces , without a coronavirus vaccine .
Bailey , on the other hand , said it would be economically reckless for offices to remain empty .
“ Businesses are doing whatever it takes to keep Londoners safe and get them back into offices @ @ @ @ @ @ @ : ‘ No time for a show of virility ’ : Sadiq Khan on getting London moving again “ But their efforts have not been matched by the mayor of London .
“ If I were mayor , I would launch a big campaign to get London moving again .
”

London can’t survive widespread home working, says Tory mayoral candidate
A commuter wearing a bowler hat exits Westminster underground station in London on September 30, 2020. (Photo by Tolga Akmen / AFP) (Photo by TOLGA AKMEN/AFP via Getty Images)
Londoners must get back to their workplaces to save the economic future of the city, according to Tory mayoral candidate Shaun Bailey.
Bailey wrote for City A.M. today that the capital needs to ditch advice from the government and Sadiq Khan that people should work from home where possible, adding that he does not “believe coronavirus is a good reason to put hundreds of thousands of jobs at risk”.
Sixty-nine per cent of Londoners are still working from home, compared to just 18 per cent in Paris and 25 per cent in Berlin.
Tube numbers in the capital are also still down by around 65 per cent and footfall on central London’s High Streets is a fraction of normal times, which has in turn imperiled thousands of businesses.
These numbers are unlikely to rise after the government encouraged everyone in England two weeks ago to work from home where possible as the country’s second coronavirus wave began to hit.
Before the Open newsletter: Start your day with the City View podcast and key market data
The new recommendation came as people were beginning to slowly repopulate central London offices, after months of working from home.
Bailey said “the more restrictions people face, the more our city is unable to function”.
He added: “If we keep introducing new restrictions on businesses and workers, we’re putting livelihoods at risk — from small businesses to people who were struggling long before coronavirus hit.”
He also took aim at Khan for not doing more to get people back into their workplaces.
The London mayor told City A.M. last month that the capital would not look anything like normal this year, and that offices could not fill up with the government’s current social distancing guidelines.
Khan also said it would be “reckless” to have 100 per cent of people back to their workplaces, without a coronavirus vaccine.
Bailey, on the other hand, said it would be economically reckless for offices to remain empty.
“Businesses are doing whatever it takes to keep Londoners safe and get them back into offices,” he said.
“But their efforts have not been matched by the mayor of London.
“If I were mayor, I would launch a big campaign to get London moving again.”


cityam--2020-10-01--Bailey: Khan is failing to get London moving again

Over the last few months , coronavirus has forced our elected representatives to make some tough choices .
And the overwhelming majority of Londoners have supported them .
We stopped going into offices .
We stopped making unnecessary trips to the shops .
We shut down pubs , restaurants and hospitality businesses for months on end .
We followed the rules , played our part and slowed the spread of the virus .
Read more : Khan asks Treasury for almost £30bn of new spending It was the right thing to do .
But it ’ s now clear that @ @ @ @ @ @ @ of coronavirus till we have a vaccine .
So as elected representatives , it ’ s our job to start thinking about the broader cost of our decisions .
Look around London and you see a city that has stalled .
Tube use is down 70 % .
High streets are empty .
69 % of Londoners are still working from home .
We can talk about the cost to the economy — but we should also think about the cost to Londoners themselves .
Because the truth is that I don ’ @ @ @ @ @ @ @ to put hundreds of thousands of jobs at risk .
Our city is built on people .
And the more restrictions people face , the more our city is unable to function .
If we keep introducing new restrictions on businesses and workers , we ’ re putting livelihoods at risk — from small businesses to people who were struggling long before coronavirus hit .
This hasn ’ t gone unnoticed among the business community .
Businesses have taken huge steps to make their offices safe .
Temperature checks , hygiene facilities , @ @ @ @ @ @ @ common .
Businesses are doing whatever it takes to keep Londoners safe and get them back into offices .
But their efforts have not been matched by the Mayor of London .
Instead of being innovative , like the Chancellor , and working with government and businesses on incentives to get people into central London , Sadiq Khan has told people worried about their livelihoods to get used to it .
He agrees that countless businesses need to operate at near-full capacity to survive .
But his message to those businesses is grim @ @ @ @ @ @ @ be busy any time soon .
It ’ s easy for the Mayor to constantly call for more restrictions .
He doesn ’ t have a minimum-wage job , or run a small business , or work in a shop that depends on customers .
He ’ s got a salary covered by taxpayers — a salary that he ’ ll continue to receive , regardless of how bad the economy gets .
But most Londoners don ’ t have the luxury of a guaranteed salary .
Instead , they have to live @ @ @ @ @ @ @ that one person ’ s spending is another person ’ s income .
And if people aren ’ t spending , then people aren ’ t getting income .
It ’ s not just the hospitality , leisure and retail industries that depend on customers .
Think about all the businesses that exist only to serve other businesses .
IT companies , office-supply companies , printers , caterers , cleaners , even newspapers — the list goes on .
You might not feel much sympathy for the high-powered PR exec who loses their @ @ @ @ @ @ @ sympathy for the minimum-wage cleaner who can no longer find work .
So if Sadiq Khan thinks that people like this should find other jobs , then he needs to level with us .
If he thinks that it ’ s time to give up on London , then we need to know .
Because it ’ s certainly not what other countries and cities believe .
Look at Germany , where more than three quarters of people are back in offices .
Look at France , where 82 % of workers are @ @ @ @ @ @ @ London , where workers are much more likely to be at home compared to workers in Europe ’ s biggest cities , including Berlin and Paris .
Our Mayor ’ s actions suggest that he doesn ’ t care all that much about a recovery .
He increased the congestion charge and extended it to seven days a week .
He refused to reopen the Waterloo and City Line .
He let Hammersmith Bridge close yet again , leaving residents and emergency services without a reliable river crossing .
He spent the crisis @ @ @ @ @ @ @ has no control over , rather than doing something about rising crime and struggling businesses , which he has full control over .
Most worryingly of all , he ’ s got no plan to get London moving again .
Londoners deserve better .
If I were Mayor , I would launch a big campaign to get London moving again .
This campaign would be aimed to reach everyone — from top CEOs to workers on the frontlines .
And it wouldn ’ t be led by City Hall alone .
I would @ @ @ @ @ @ @ bring businesses and the public sector together , working on incentives and coordinating messages .
And I ’ d fix the mistakes that Sadiq Khan made during this crisis .
Reversing his congestion charge hike .
Reopening the Waterloo and City line .
Binning his plans to defund the police by £110 million .
And focusing relentlessly on the welfare of every resident in every community , not worrying about issues outside of my control .
This is what we need .
Mass working from home just isn ’ t a permanent option @ @ @ @ @ @ @ , for the sake of Londoners , let ’ s get London moving again .

Bailey: Khan is failing to get London moving again
Over the last few months, coronavirus has forced our elected representatives to make some tough choices. And the overwhelming majority of Londoners have supported them.
We stopped going into offices. We stopped making unnecessary trips to the shops. We shut down pubs, restaurants and hospitality businesses for months on end. We followed the rules, played our part and slowed the spread of the virus.
Read more: Khan asks Treasury for almost £30bn of new spending
It was the right thing to do. But it’s now clear that we can’t completely get rid of coronavirus till we have a vaccine. So as elected representatives, it’s our job to start thinking about the broader cost of our decisions.
Look around London and you see a city that has stalled. Tube use is down 70%. High streets are empty. 69% of Londoners are still working from home.
We can talk about the cost to the economy — but we should also think about the cost to Londoners themselves. Because the truth is that I don’t believe coronavirus is a good reason to put hundreds of thousands of jobs at risk.
Our city is built on people. And the more restrictions people face, the more our city is unable to function. If we keep introducing new restrictions on businesses and workers, we’re putting livelihoods at risk — from small businesses to people who were struggling long before coronavirus hit.
This hasn’t gone unnoticed among the business community. Businesses have taken huge steps to make their offices safe. Temperature checks, hygiene facilities, socially distanced workplaces — these are now common. Businesses are doing whatever it takes to keep Londoners safe and get them back into offices.
But their efforts have not been matched by the Mayor of London.
Instead of being innovative, like the Chancellor, and working with government and businesses on incentives to get people into central London, Sadiq Khan has told people worried about their livelihoods to get used to it. He agrees that countless businesses need to operate at near-full capacity to survive. But his message to those businesses is grim: don’t expect London to be busy any time soon.
Read more: Business leaders join call for Waterloo & City reopening
It’s easy for the Mayor to constantly call for more restrictions. He doesn’t have a minimum-wage job, or run a small business, or work in a shop that depends on customers. He’s got a salary covered by taxpayers — a salary that he’ll continue to receive, regardless of how bad the economy gets.
But most Londoners don’t have the luxury of a guaranteed salary. Instead, they have to live by the central truth of economics: that one person’s spending is another person’s income. And if people aren’t spending, then people aren’t getting income.
It’s not just the hospitality, leisure and retail industries that depend on customers. Think about all the businesses that exist only to serve other businesses. IT companies, office-supply companies, printers, caterers, cleaners, even newspapers — the list goes on.
You might not feel much sympathy for the high-powered PR exec who loses their job. But you might feel some sympathy for the minimum-wage cleaner who can no longer find work.
So if Sadiq Khan thinks that people like this should find other jobs, then he needs to level with us. If he thinks that it’s time to give up on London, then we need to know. Because it’s certainly not what other countries and cities believe.
Look at Germany, where more than three quarters of people are back in offices. Look at France, where 82% of workers are back in offices. Then look at London, where workers are much more likely to be at home compared to workers in Europe’s biggest cities, including Berlin and Paris.
Our Mayor’s actions suggest that he doesn’t care all that much about a recovery. He increased the congestion charge and extended it to seven days a week. He refused to reopen the Waterloo and City Line. He let Hammersmith Bridge close yet again, leaving residents and emergency services without a reliable river crossing.
He spent the crisis talking about the EU, which he has no control over, rather than doing something about rising crime and struggling businesses, which he has full control over. Most worryingly of all, he’s got no plan to get London moving again.
Londoners deserve better. If I were Mayor, I would launch a big campaign to get London moving again. This campaign would be aimed to reach everyone — from top CEOs to workers on the frontlines. And it wouldn’t be led by City Hall alone. I would use the Mayor’s powers to bring businesses and the public sector together, working on incentives and coordinating messages.
And I’d fix the mistakes that Sadiq Khan made during this crisis. Reversing his congestion charge hike. Reopening the Waterloo and City line. Binning his plans to defund the police by £110 million. And focusing relentlessly on the welfare of every resident in every community, not worrying about issues outside of my control.
This is what we need. Mass working from home just isn’t a permanent option. So for the sake of jobs, for the sake of Londoners, let’s get London moving again.
Read more: Mayor calls for curfew rethink


cityam--2020-10-01--FRC delays appointment of Keith Skeoch as interim chair

The appointment of City veteran Keith Skeoch as chair of the audit watchdog has reportedly been delayed despite having been signed off by the business secretary .
The plan to name Skeoch as interim chair of the Financial Reporting Council has been delayed due to a failure in Whitehall to rubber-stamp the appointment , according to Sky News .
Reports emerged last month that the former Standard Life Aberdeen boss would become the stopgap chairman of the regulator .
The decision was reportedly signed off by the business secretary Alok Sharma , but he has now been forced to leave @ @ @ @ @ @ @ deadlock has been resolved .
A spokesperson for the Department of Business , Energy said : “ The day-to-day running of the Financial Reporting Council remains the responsibility of its CEO Sir Jon Thompson .
We will announce next steps on recruitment of a new Chair in due course.
” “ Jon Thompson is a very good CEO , and he is doing a very good job , but that doesn ’ t mean the FRC board should be without an effective chairman , ” one source told Sky News .
“ This @ @ @ @ @ @ @ for setting standards for good governance.
” Simon Dingemans stepped down from his role as chair of the FRC in May , less than nine months after taking the role .
The former Glaxosmithkline finance boss was appointed last July to oversee the FRC ’ s transformation to the Audit , Reporting and Governance Authority ( ARGA ) , following a series of failings .
The watchdog recently confirmed plans to press ahead with plans to break up the Big Four accounting firms by forcing them to separate their audit and consulting divisions @ @ @ @ @ @ @ collapse of German payments firm Wirecard following an accounting scandal .
EY is facing mounting backlash after the Financial Times revealed an EY employee had flagged potential fraud at the company four years period .
The FRC has said auditors must submit plans this autumn , with “ operational separation ” coming into effect in 2024 .
Read more : Chair of audit watchdog the FRC Simon Dingemans resigns after less than nine months Skeoch could not be reached for comment .

FRC delays appointment of Keith Skeoch as interim chair
The new boss will not be in place before interim chair Keith Skeoch departs in October, according to a timetable published by the Cabinet Office on Thursday.
The appointment of City veteran Keith Skeoch as chair of the audit watchdog has reportedly been delayed despite having been signed off by the business secretary.
The plan to name Skeoch as interim chair of the Financial Reporting Council has been delayed due to a failure in Whitehall to rubber-stamp the appointment, according to Sky News.
Reports emerged last month that the former Standard Life Aberdeen boss would become the stopgap chairman of the regulator.
The decision was reportedly signed off by the business secretary Alok Sharma, but he has now been forced to leave the FRC’s board until the deadlock has been resolved.
A spokesperson for the Department of Business, Energy said: “The day-to-day running of the Financial Reporting Council remains the responsibility of its CEO Sir Jon Thompson. We will announce next steps on recruitment of a new Chair in due course.”
“Jon Thompson is a very good CEO, and he is doing a very good job, but that doesn’t mean the FRC board should be without an effective chairman,” one source told Sky News.
“This is supposed to be the organisation responsible for setting standards for good governance.”
Simon Dingemans stepped down from his role as chair of the FRC in May, less than nine months after taking the role.
The former Glaxosmithkline finance boss was appointed last July to oversee the FRC’s transformation to the Audit, Reporting and Governance Authority (ARGA), following a series of failings.
The watchdog recently confirmed plans to press ahead with plans to break up the Big Four accounting firms by forcing them to separate their audit and consulting divisions.
Pressure has only grown since the collapse of German payments firm Wirecard following an accounting scandal.
EY is facing mounting backlash after the Financial Times revealed an EY employee had flagged potential fraud at the company four years period.
The FRC has said auditors must submit plans this autumn, with “operational separation” coming into effect in 2024.
Skeoch could not be reached for comment.


cityam--2020-10-02--PM to hold last-minute Brexit talks with EU’s von der Leyen

Prime Minister Boris Johnson will hold discussions with European Commission president Ursula von der Leyen by phone tomorrow as the UK and EU try to strike a last-minute Brexit trade agreement .
The latest and last round of scheduled talks between the two sides are set to end today .
A deal remains a way off , with tensions still running high over the UK ’ s decision to go back on parts of the Brexit deal struck last year .
Read more : EU says the City can expect ‘ less fluid ’ trading from January The UK left @ @ @ @ @ @ @ in a transition period that ends in December .
Both sides have until the end of this year to strike a free-trade agreement that will avoid the UK crashing out on to World Trade Organization terms .
Coronavirus and the short-time frame had already made negotiations difficult .
But tensions have risen dramatically in recent weeks after the UK announced it would renege on parts of the previously agreed Brexit deal that related to Northern Ireland .
The EU has launched legal proceedings against the UK , it confirmed yesterday .
Officials from @ @ @ @ @ @ @ move makes a no-deal outcome more likely .
However , the planned conversation between Johnson and von der Leyen indicates that both sides remain keen to reach a deal .
It would be their first conversation since June .
The PM will “ take stock of negotiations and discuss next steps ” with Von der Leyen , a Downing Street spokesperson said .
There have been some signs of progress , with the UK giving some ground on fishing rights , for example .
However , talks remain deadlocked in some areas such @ @ @ @ @ @ @ expected to continue over the next two weeks , according to reports , although they are yet to be officially scheduled .
EU leaders meet for a key summit on 15-16 October .
Yet the UK ’ s internal markets bill which overrides parts of the withdrawal agreement remains a major area of concern .
Read more : 7,500 UK finance jobs shifted to EU since historic vote , as hard Brexit edges closer Irish Prime Minister Michael Martin said he was “ looking forward to giving my assessment on the Brexit situation @ @ @ @ @ @ @ leaders summit today .
He said he would stress “ adherence to the withdrawal agreement and the Ireland protocol ” .

PM to hold last-minute Brexit talks with EU’s von der Leyen
UK Prime Minister Boris Johnson and EU Commission president Ursula von der Leyen spoke over the weekend to try and progress UK-EU trade talks
Prime Minister Boris Johnson will hold discussions with European Commission president Ursula von der Leyen by phone tomorrow as the UK and EU try to strike a last-minute Brexit trade agreement.
The latest and last round of scheduled talks between the two sides ended today. A deal remains a way off, with tensions still running high over the UK’s decision to go back on parts of the Brexit deal struck last year.
The UK left the EU in January but is currently in a transition period that ends in December. Both sides have until the end of this year to strike a free-trade agreement that will avoid the UK crashing out on to World Trade Organization terms.
Coronavirus and the short-time frame had already made negotiations difficult. But tensions have risen dramatically in recent weeks after the UK announced it would renege on parts of the previously agreed Brexit deal that related to Northern Ireland.
The EU only yesterday launched legal proceedings against the UK, Officials from both sides have expressed concerns that the move makes a no-deal outcome more likely.
However, the planned conversation between Johnson and von der Leyen indicates that both sides remain keen to reach a deal. It would be their first conversation since June.
The PM will “take stock of negotiations and discuss next steps” with Von der Leyen, a Downing Street spokesperson said.
Withdrawal agreement row continues
There have been some signs of progress, with the UK giving some ground on fishing rights, for example. However, talks remain deadlocked in some areas such as over state aid.
Talks are expected to continue over the next two weeks, according to reports, although they are yet to be officially scheduled. EU leaders meet for a key summit on 15-16 October.
Yet the UK’s internal markets bill which overrides parts of the withdrawal agreement remains a major area of concern.
However, following the talks concluding this evening , chief UK negotiator Lord David Frost said the two sides still had a way to go on fishing rules post-Brexit, although progress had been made on a law enforcement agreement.
Despite some positive signs, Frost said: “In other areas familiar differences remain. On the level playing field, including subsidy policy, we continue to seek an agreement that ensures our ability to set our own laws in the UK without constraints that go beyond those appropriate to a free trade agreement.
“There has been some limited progress here but the EU need to move further before an understanding can be reached. On fisheries the gap between us is unfortunately very large and, without further realism and flexibility from the EU, risks being impossible to bridge.
Frost added: “These issues are fundamental to our future status as an independent country.
“I am concerned that there is very little time now to resolve these issues ahead of the European Council on 15 October. For our part, we continue to be fully committed to working hard to find solutions, if they are there to be found.”


cityam--2020-10-02--Activist investor Trian takes stakes in Invesco and Janus Henderson

Activist investor Trian Fund Management has reportedly taken stakes in Invesco and Janus Henderson with plans to pursue further deals .
Trian has built stakes in both Invesco and Janus enderson of 9.9 per cent , with the positions accounting for a combined $ 900m ( £700m ) , according to the Wall Street Journal .
The money reportedly comes from a Trian fund set up with the aim of consolidating asset managers , which has money remaining to spend on further deals .
The existence of this fund has not previously been reported .
Trian , which is led @ @ @ @ @ @ @ the potential to grow by acquiring rivals such as Janus Henderson , according to the WSJ .
Invesco and Janus Henderson have both been involved in high-profile mergers and acquisitions with rivals in recent years .
In 2018 Invesco bought Oppenheimer Funds while Janus Capital merged with Henderson Global Investors .
Peltz has a track record of investing in asset managers .
He recently took a second stake in Legg Mason before the firm was bought by investment management firm Franklin Templeton in a $ 4.5bn deal .
In a statement today Invesco @ @ @ @ @ @ @ in Invesco.
” “ We value shareholder input and regularly engage with our major shareholders in a constructive dialogue aimed at further strengthening our business and driving long-term , sustainable growth.
” Read more : Janus Henderson struggles to shake client jitters as outflows pass $ 17bn A spokesperson for Janus Henderson told City A.M. : “ We regularly engage with and consider input from our shareholders , and , while it is the Company ’ s policy not to comment on the specifics of discussions with individual shareholders , the Company notes @ @ @ @ @ @ @ Thursday regarding its investment.
” “ We continue to make significant progress to increase profitability , drive organic growth , and identify and deliver cost savings , and are committed to delivering meaningful value for shareholders .
”

Activist investor Trian takes stakes in Invesco and Janus Henderson
Nelson Peltz, who leads Trian Fund Management, has taken significant stakes in Invesco and Janus Henderson.
Activist investor Trian Fund Management has reportedly taken stakes in Invesco and Janus Henderson with plans to pursue further deals.
Trian has built stakes in both Invesco and Janus enderson of 9.9 per cent, with the positions accounting for a combined $900m (£700m), according to the Wall Street Journal.
The money reportedly comes from a Trian fund set up with the aim of consolidating asset managers, which has money remaining to spend on further deals.
The existence of this fund has not previously been reported.
Trian, which is led by Nelson Peltz, believes Invesco has the potential to grow by acquiring rivals such as Janus Henderson, according to the WSJ.
Executives have reportedly held conversations with Invesco leadership.
Invesco and Janus Henderson have both been involved in high-profile mergers and acquisitions with rivals in recent years.
In 2018 Invesco bought Oppenheimer Funds while Janus Capital merged with Henderson Global Investors.
Peltz has a track record of investing in asset managers. He recently took a second stake in Legg Mason before the firm was bought by investment management firm Franklin Templeton in a $4.5bn deal.
In a statement today Invesco said: “We welcome high-quality investors in Invesco.”
“We value shareholder input and regularly engage with our major shareholders in a constructive dialogue aimed at further strengthening our business and driving long-term, sustainable growth.”
A spokesperson for Janus Henderson told City A.M.: “We regularly engage with and consider input from our shareholders, and, while it is the Company’s policy not to comment on the specifics of discussions with individual shareholders, the Company notes that it only heard from Trian on Thursday regarding its investment.”
“We continue to make significant progress to increase profitability, drive organic growth, and identify and deliver cost savings, and are committed to delivering meaningful value for shareholders.”


cityam--2020-10-02--Tired of working from home? Antigua offers 'digital nomad' visa

As the weather draws in – and working from home means hiding from the rain as much as it does enjoying the summer sunshine in the garden – plenty of Brits may be desperate for a change of scenery .
For many , that will involve going back to the office , and the camaraderie and creativity of being around colleagues .
Read more : London can ’ t survive working from home forever , says Tory mayoral candidate But if you ’ re after something a little further afield – how about Antigua ?
The Caribbean island has launched @ @ @ @ @ @ @ allowing individuals the world over to move to the Commonwealth paradise for two years .
So if the idea of zoom calls only interrupting an afternoon of beach cricket and tropical cocktails appeals , this might be for you .
Read more : Londoners defying calls to ‘ work from home ’ as the office begins to appeal again The visa allows anybody with a job paying more than $ 50,000 to live on , and travel from , Antigua and Barbuda .
The only other qualification is that you can ’ t @ @ @ @ @ @ @ that those taking advantage aren ’ t seen as taking any jobs from local residents .
With the tourism industry still struggling amid the Covid-19 pandemic , Antiguan politicians see the visa as a chance to give the islands a welcome boost .
Prime Minister Gaston Browne said : “ These persons will rent accommodation , lease motor vehicles , shop in supermarkets , eat in restaurants , visit places of entertainment and help to put money in the pockets of Antigua and Barbudans , and aid the economy.
” Read more : @ @ @ @ @ @ @ back to work

Tired of working from home? Antigua offers ‘digital nomad’ visa
As the weather draws in – and working from home means hiding from the rain as much as it does enjoying the summer sunshine in the garden – plenty of Brits may be desperate for a change of scenery.
For many, that will involve going back to the office, and the camaraderie and creativity of being around colleagues.
Read more: London can’t survive working from home forever, says Tory mayoral candidate
But if you’re after something a little further afield – how about Antigua?
The Caribbean island has launched the “Nomad Residence Visa,” allowing individuals the world over to move to the Commonwealth paradise for two years.
So if the idea of zoom calls only interrupting an afternoon of beach cricket and tropical cocktails appeals, this might be for you.
Read more: Londoners defying calls to ‘work from home’ as the office begins to appeal again
The visa allows anybody with a job paying more than $50,000 to live on, and travel from, Antigua and Barbuda.
The only other qualification is that you can’t work for an Antiguan company, ensuring that those taking advantage aren’t seen as taking any jobs from local residents.
With the tourism industry still struggling amid the Covid-19 pandemic, Antiguan politicians see the visa as a chance to give the islands a welcome boost.
Prime Minister Gaston Browne said: “These persons will rent accommodation, lease motor vehicles, shop in supermarkets, eat in restaurants, visit places of entertainment and help to put money in the pockets of Antigua and Barbudans, and aid the economy.”
Read more: Londoners more likely to want to go back to work


cityam--2020-10-02--Walmart confirms Asda sale to billionaire UK brothers in £6.8bn deal

Asda is back in British ownership after Walmart today agreed a sale to the Blackburn-based Issa brothers in a £6.8bn deal .
Under the new ownership structure , the billionaire petrol station tycoons Mohsin and Zuber Issa , backed by private equity firm TDR Capital , will acquire a majority ownership stake in Asda .
Read more : Walmart selects billionaire brothers as preferred bidders for Asda Walmart will retain an equity investment in the supermarket giant .
The US retail giant was forced to put Asda up for sale after merger talks with Sainbsury ’ s were blocked by @ @ @ @ @ @ @ Competition and Markets Authority warned that the merger , which would have created Britain ’ s largest supermarket by market share , would be expected to result in a “ substantial lessening of competition ” .
Walmart had been expected to select buyout firm Apollo Global Management , which had been working on an offer with former Debenhams boss Rob Templeman .
Earlier this week the Walmart selected the consortium led by the Blackburn brothers as the preferred bidder for Asda .
Private equity firm Lone Star Funds , which had been working @ @ @ @ @ @ @ out of the race last week .
Asda will continue to be led by chief executive Roger Burnley who will form part of the board alongside representatives appointed by the Issa brothers , TDR Capital and Walmart .
“ This new ownership opens an exciting new chapter in Asda ’ s long heritage of delivering great value for UK shoppers ” , Burnley said .
“ With our combined investment , expertise and ambition ; Asda , Walmart , the Issa brothers and TDR have an incredible opportunity to accelerate our existing strategy @ @ @ @ @ @ @ for our customers as well as strengthen our business for our colleagues.
” The grocer ’ s new owners have committed to an investment of £1bn over the next three years “ to further strengthen the business and its supply chain ” .
The Issa Brothers said : “ We are very proud to be investing in Asda , an iconic British business that we have admired for many years .
Asda ’ s customer-centric philosophy , focus on operational excellence and commitment to the communities in which it operates are the same @ @ @ @ @ @ @ on.
” The transaction is subject to regulatory approvals and is expected to be complete in the first half of next year .

Walmart confirms Asda sale to billionaire UK brothers in £6.8bn deal
Asda will return to UK ownership after US retail giant Walmart sold off the supermarket for £6.9bn
Asda is back in British ownership after Walmart today agreed a sale to the Blackburn-based Issa brothers in a £6.8bn deal.
Under the new ownership structure, the billionaire petrol station tycoons Mohsin and Zuber Issa, backed by private equity firm TDR Capital, will acquire a majority ownership stake in Asda.
Walmart will retain an equity investment in the supermarket giant.
The US retail giant was forced to put Asda up for sale after merger talks with Sainbsury’s were blocked by the competition regulator last year.
The Competition and Markets Authority warned that the merger, which would have created Britain’s largest supermarket by market share, would be expected to result in a “substantial lessening of competition”.
Moody’s vice president and senior credit officer Charlie O’Shea viewed the the deal favourably.
“It will allow Walmart to continue to refocus its international efforts on markets with more long-term upside, such as India and China,” O’Shea said.
Race for ownership
Walmart had been expected to select buyout firm Apollo Global Management, which had been working on an offer with former Debenhams boss Rob Templeman.
Earlier this week Walmart selected the consortium led by the Blackburn brothers as the preferred bidder for Asda.
Private equity firm Lone Star Funds, which had been working with ex-Asda executive Paul Mason, pulled out of the race last week.
Asda will continue to be led by chief executive Roger Burnley who will form part of the board alongside representatives appointed by the Issa brothers, TDR Capital and Walmart.
“This new ownership opens an exciting new chapter in Asda’s long heritage of delivering great value for UK shoppers”, Burnley said.
“With our combined investment, expertise and ambition; Asda, Walmart, the Issa brothers and TDR have an incredible opportunity to accelerate our existing strategy and develop an even more exciting offer for our customers as well as strengthen our business for our colleagues.”
Fresh investment
The grocer’s new owners have committed to an investment of £1bn over the next three years “to further strengthen the business and its supply chain”.
The Issa Brothers said: “We are very proud to be investing in Asda, an iconic British business that we have admired for many years. Asda’s customer-centric philosophy, focus on operational excellence and commitment to the communities in which it operates are the same values that we have built EG Group on.”
The transaction is subject to regulatory approvals and is expected to be complete in the first half of next year.


cityam--2020-10-02--LV= in exclusive sale talks with Bain Capital

Financial services provider LV= has announced it is in exclusive discussions over a potential tie-up with private equity firm Bain Capital .
In a statement today LV= said discussions with Bain Capital are ongoing .
Read more : Royal London in talks with LV= over £500m tie-up It added : “ There can be no certainty that any transaction will be agreed , nor any certainty as to the terms on which any such transaction might proceed ” .
Any tie-up would be subject to regulatory approval .
The insurer confirmed earlier this week that it was talking to a @ @ @ @ @ @ @ giant Royal London was reported to be in negotiations with the provider , in a deal that would see the groups merge their pensions , life insurance and asset management businesses .
The precise valuation of LV= remains unclear but it is believed to be in excess of £500m .
Last year LV= planned to ditch its society status in favour of being a company by limited guarantee , which went ahead at the start of the year .
It followed its decision to sell its general insurance operations to Allianz at the @ @ @ @ @ @ @ is a US-based private equity firm and is well-known for high-profile acquisitions .
It has previously snapped up Domino ’ s Pizza , Burger King and Toys R Us .
This year Bain stuck a deal with embattled Vigin Australia to take it out of administration for an undisclosed sum .
LV= reiterated that its boards focus is on “ maximising long-term value for its members and ensuring the business continues to be operated in their best interests ” .

LV= in exclusive sale talks with Bain Capital
Financial services provider LV= has announced it is in exclusive discussions over a potential tie-up with private equity firm Bain Capital.
In a statement today LV= said discussions with Bain Capital are ongoing.
It added: “There can be no certainty that any transaction will be agreed, nor any certainty as to the terms on which any such transaction might proceed”.
Any tie-up would be subject to regulatory approval.
The insurer confirmed earlier this week that it was talking to a “number of parties”.
Pensions giant Royal London was reported to be in negotiations with the provider, in a deal that would see the groups merge their pensions, life insurance and asset management businesses.
The precise valuation of LV= remains unclear but it is believed to be in excess of £500m.
Last year LV= planned to ditch its society status in favour of being a company by limited guarantee, which went ahead at the start of the year.
It followed its decision to sell its general insurance operations to Allianz at the end of last year.
Bain Capital is a US-based private equity firm and is well-known for high-profile acquisitions. It has previously snapped up Domino’s Pizza, Burger King and Toys R Us.
This year Bain stuck a deal with embattled Vigin Australia to take it out of administration for an undisclosed sum.
LV= reiterated that its boards focus is on “maximising long-term value for its members and ensuring the business continues to be operated in their best interests”.


cityam--2020-10-02--Honda: Red Bull engine supplier to leave F1 in 2021

Honda has announced it will part ways with Formula One team Red Bull at the end of 2021 after three seasons of supplying the team ’ s engines .
The Japanese manufacturer said the decision was a result of it wanting to move away from internal combustion engines .
It leaves both Red Bull and its junior team Alpha Tauri without an engine supplier for 2022 and beyond .
Read more : Honda and BMW see profits slump in second quarter as lockdown hit sales Honda said it was pursuing “ carbon neutrality by 2050 ” through “ future power-unit @ @ @ @ @ @ @ and battery technologies ” .
Honda president Takahiro Hachigo said it would continue with its plans for a new power-unit design for 2021 with the aim of challenging for the world championship .
It returned to Formula One in 2015 but had a difficult three years with McLaren before joining Toro Rosso , now Alpha Tauri , in 2018 and then Red Bull in 2019 .
Its partnership with Red Bull has yielded 5 Grand Prix victories , but they have so far been unable to seriously compete with Mercedes and Lewis Hamilton @ @ @ @ @ @ @ team principal Christian Horner said : “ The shifting focus within the automotive industry has led to Honda ’ s decision to re-deploy their resources and we understand and respect the reasoning behind this .
“ Their decision presents obvious challenges for us as a team but we have been here before and with our strength in depth we are well prepared and equipped to respond effectively , as we have proven in the past .
“ Our joint focus for the remainder of the 2020 and 2021 seasons are unchanged , to @ @ @ @ @ @ @ championship.
” It leaves Formula One with just three engine suppliers at present : Renault , Ferrari and Mercedes .
All of which will be difficult for Red Bull to agree a deal with .
Honda said the technological advancements being made in the road-car industry were “ a once-in-100-years period of great transformation ” as the shift toward electric vehicles quickens .
Electric-powered engines are not yet be able to provide the speed and longevity required by a Formula One car .
Read more : Honda forced to suspend factory activity in @ @ @ @ @ @ @ looking at other ways of reducing carbon consumption while continuing to use the hybrid engines that combine fuel and electric power .
One option being looked at is synthetic fuels – capturing carbon from the atmosphere and therefore remaining neutral .
However , Mercedes , who have won the world championship for six consecutive seasons , have insisted that hybrid engines will be a major part of their road-car range for years to come .

Honda: Red Bull engine supplier to leave F1 in 2021
Red Bull engine supplier Honda to leave F1 in 2021
Honda has announced it will part ways with Formula One team Red Bull at the end of 2021 after three seasons of supplying the team’s engines.
The Japanese manufacturer said the decision was a result of it wanting to move away from internal combustion engines.
It leaves both Red Bull and its junior team Alpha Tauri without an engine supplier for 2022 and beyond.
Honda said it was pursuing “carbon neutrality by 2050” through “future power-unit and energy technologies, including fuel-cell vehicle and battery technologies”.
Honda president Takahiro Hachigo said it would continue with its plans for a new power-unit design for 2021 with the aim of challenging for the world championship.
It returned to Formula One in 2015 but had a difficult three years with McLaren before joining Toro Rosso, now Alpha Tauri, in 2018 and then Red Bull in 2019.
Its partnership with Red Bull has yielded 5 Grand Prix victories, but they have so far been unable to seriously compete with Mercedes and Lewis Hamilton for a world title.
Red Bull team principal Christian Horner said: “The shifting focus within the automotive industry has led to Honda’s decision to re-deploy their resources and we understand and respect the reasoning behind this.
“Their decision presents obvious challenges for us as a team but we have been here before and with our strength in depth we are well prepared and equipped to respond effectively, as we have proven in the past.
“Our joint focus for the remainder of the 2020 and 2021 seasons are unchanged, to fight for victories and challenge for the championship.”
It leaves Formula One with just three engine suppliers at present: Renault, Ferrari and Mercedes. All of which will be difficult for Red Bull to agree a deal with.
Honda said the technological advancements being made in the road-car industry were “a once-in-100-years period of great transformation” as the shift toward electric vehicles quickens.
Electric-powered engines are not yet be able to provide the speed and longevity required by a Formula One car.
F1 bosses are looking at other ways of reducing carbon consumption while continuing to use the hybrid engines that combine fuel and electric power.
One option being looked at is synthetic fuels – capturing carbon from the atmosphere and therefore remaining neutral.
However, Mercedes, who have won the world championship for six consecutive seasons, have insisted that hybrid engines will be a major part of their road-car range for years to come.