cityam--2020-11-25--Chernobyl effect drives British TV exports to record high

The value of UK TV exports hit a record high last year as blockbuster dramas such as Chernobyl sparked a boom in international demand .
Hit TV shows generated £1.48bn in the year to March , a six per cent increase year on year , according to figures from industry body Pact .
Read more : Selling like hot cakes : Bake Off final smashes Channel 4 ratings record Scripted drama was the key driver for UK companies , accounting for just under half of all revenue .
This includes Sky ’ s blockbuster miniseries Chernobyl and hit BBC show @ @ @ @ @ @ @ The War of the Worlds , The Feed and Doctor Who .
Factual programming also had a bumper year , increasing its share from 23 per cent to 28 per cent of total revenue thanks to series such as David Attenborough ’ s Seven Worlds , One Planet .
The figures showed the US remains the most important market for British telly exports , accounting for almost a third of all revenue .
This is followed by France and Australia , while the report highlighted China as a potential growth area as revenue @ @ @ @ @ @ @ “ British TV content — and in particular drama — continues to be attractive to a global audience , ” said Pact chief executive John McVay .
“ The quality of UK production is admired around the world and this is evident from these record figures.
” While the figures offer an upbeat view of Britain ’ s booming production sector prior to the pandemic , the outbreak of Covid-19 is likely to take its toll on this year ’ s exports .
Major broadcasters including the BBC and ITV have suffered sharp @ @ @ @ @ @ @ as a result of the pandemic .
While filming has since resumed , producers have warned their output will be limited by continued social distancing measures .

Chernobyl effect drives British TV exports to record high
The growth was driven by the success of blockbuster British dramas such as Chernobyl (Image: Sky)
The value of UK TV exports hit a record high last year as blockbuster dramas such as Chernobyl sparked a boom in international demand.
Hit TV shows generated £1.48bn in the year to March, a six per cent increase year on year, according to figures from industry body Pact.
Scripted drama was the key driver for UK companies, accounting for just under half of all revenue.
This includes Sky’s blockbuster miniseries Chernobyl and hit BBC show His Dark Materials, as well as The War of the Worlds, The Feed and Doctor Who.
Factual programming also had a bumper year, increasing its share from 23 per cent to 28 per cent of total revenue thanks to series such as David Attenborough’s Seven Worlds, One Planet.
The figures showed the US remains the most important market for British telly exports, accounting for almost a third of all revenue.
This is followed by France and Australia, while the report highlighted China as a potential growth area as revenue increased by a quarter to £40m.
“British TV content — and in particular drama — continues to be attractive to a global audience,” said Pact chief executive John McVay.
“The quality of UK production is admired around the world and this is evident from these record figures.”
While the figures offer an upbeat view of Britain’s booming production sector prior to the pandemic, the outbreak of Covid-19 is likely to take its toll on this year’s exports.
Major broadcasters including the BBC and ITV have suffered sharp drops in revenue in their production divisions as a result of the pandemic.
While filming has since resumed, producers have warned their output will be limited by continued social distancing measures.


cityam--2020-11-25--Fulham residents hit with matchday parking fees - even with no fans at Craven Cottage

Tory MP Greg Hands has hit out at Fulham and Hammersmith Council for implementing matchday parking restrictions around Fulham FC ’ s Craven Cottage , despite there being no fans at games .
The council is charging people £2.50 an hour to park in some areas around the Premier League club ’ s ground , with £80 fines given to cars parked in this zone for more than one hour .
Read more : Championship favourites Fulham ‘ cautiously optimistic ’ of bouncing back to Premier League This is despite the fact that no fans are allowed to attend Premier @ @ @ @ @ @ @ Fulham and Hammersmith Council told City A.M. that the football club had asked the local authority to maintain the parking restrictions for the “ health and safety of players ” .
Hands , who is a trade minister and MP for Fulham and Hammersmith , said keeping the mathcday measures was “ absurd ” and that the council “ went our ticketing everyone ” last weekend .
“ It is absurd and just a sign of greed from the Labour Hammersmith and Fulham Council – which claims not to have enough money to @ @ @ @ @ @ @ Hammersmith Bridge , ” he said .
Before the Open newsletter : Start your day with the City View podcast and key market data Fulham resident Nick Ingram also tweeted his anger at the rule , saying : “ In what universe do ‘ match day restrictions ’ apply when there are zero fans at the game ?
“ Made even worse when a trip to the park is one of the only activities allowed.
” Chelsea ’ s stadium Stamford Bridge is also within the same borough , however no matchday parking @ @ @ @ @ @ @ council also lifted parking restrictions around Arsenal ’ s Emirates Stadium when fans were banned from attending games earlier this year .
A Fulham and Hammersmith councillor told City A.M. they had complained about the continuance of matchday parking restrictions with the club and the council , but was told it could not change .
A Hammersmith and Fulham Council spokesperson said : “ The council has been asked by Fulham FC [ to keep the restrictions ] so that players and staff are safe in case of an emergency .
“ A @ @ @ @ @ @ @ clog up the area around the ground on match days and the club wants to keep the area clear for health and safety reasons .
Read more : Khan : Nothing to help London in any meaningful way in spending review “ The zone is also in a smaller portion of Stevenage Road than in normal times .
”

Fulham residents hit with matchday parking fees – even with no fans at Craven Cottage
Fulham and Hammersmith council told City A.M. that the football club had asked the local authority to maintain the parking restrictions for the “health and safety of players”.
Tory MP Greg Hands has hit out at Fulham and Hammersmith Council for implementing matchday parking restrictions around Fulham FC’s Craven Cottage, despite there being no fans at games.
The council is charging people £2.50 an hour to park in some areas around the Premier League club’s ground, with £80 fines given to cars parked in this zone for more than one hour.
This is despite the fact that no fans are allowed to attend Premier League games due to Covid restrictions.
Fulham and Hammersmith Council told City A.M. that the football club had asked the local authority to maintain the parking restrictions for the “health and safety of players”.
Hands, who is a trade minister and MP for Fulham and Hammersmith, said keeping the mathcday measures was “absurd” and that the council “went our ticketing everyone” last weekend.
“It is absurd and just a sign of greed from the Labour Hammersmith and Fulham Council – which claims not to have enough money to even put a single penny towards repairing Hammersmith Bridge,” he said.
Before the Open newsletter: Start your day with the City View podcast and key market data
Fulham resident Nick Ingram also tweeted his anger at the rule, saying: “In what universe do ‘match day restrictions’ apply when there are zero fans at the game?
“Made even worse when a trip to the park is one of the only activities allowed.”
Chelsea’s stadium Stamford Bridge is also within the same borough, however no matchday parking restrictions apply around the ground.
Islington council also lifted parking restrictions around Arsenal’s Emirates Stadium when fans were banned from attending games earlier this year.
A Fulham and Hammersmith councillor told City A.M. they had complained about the continuance of matchday parking restrictions with the club and the council, but was told it could not change.
A Hammersmith and Fulham Council spokesperson said: “The council has been asked by Fulham FC [to keep the restrictions] so that players and staff are safe in case of an emergency.
“A lot of vehicles and equipment from broadcasters clog up the area around the ground on match days and the club wants to keep the area clear for health and safety reasons.
“The zone is also in a smaller portion of Stevenage Road than in normal times.”
Fulham FC was contacted for comment.


cityam--2020-11-25--RMT joins calls for emergency Eurostar funding as passenger numbers collapse

Rail union the RMT has called on the government to provide emergency funding for the Eurostar , saying that a failure to do so threatens the future of the rail link .
As a result of the coronavirus pandemic , the Eurostar is currently battling a 95 per cent decline in passenger numbers .
Read more : Eurostar launches direct Amsterdam to London service – but was anybody onboard it ?
If the service were to fail due to running out of cash , it would also threaten the future of the HS1 rail route , which is funded by @ @ @ @ @ @ @ call for emergency funding comes just days after the government unveiled extra support for the UK ’ s airports , in the form of £8m in business rates relief per airport .
RMT general secretary Mick Cash said : “ RMT is calling on the government to step in immediately to give lifeline financial support for the important international infra-structure role fulfilled by Eurostar and the thousands of jobs supported both directly and indirectly by the service .
“ It is wholly wrong that Eurostar , an eco-friendly service that is a beacon @ @ @ @ @ @ @ is being denied the kind of financial support being offered to the airports .
“ The current inaction leaves the service hanging by a thread and all we are asking for is the support needed to maintain viability and stability as we move out of this phase of lockdown and look forward to the future.
” A spokesperson for Eurostar said that the business rates waiver should be extended to the high speed rail sector .
Before the Open newsletter : Start your day with the City View podcast and key market data @ @ @ @ @ @ @ for airports puts Eurostar at a direct disadvantage against its airline competitors ” , they said .
“ Eurostar has been left fighting for its survival against a 95 per cent drop in demand , whilst aviation has received over £1.8bn in support through loans , tax deferrals and financing .
“ We would ask this scheme to be extended to include international rail services , and more generally for the Government to incorporate high-speed rail in its support for the travel sector , and in doing so help protect the green gateway @ @ @ @ @ @ @ spokesperson said : “ We recognise the significant financial challenges facing Eurostar as a result of Covid-19 and the unprecedented circumstances currently faced by the international travel industry .
“ The Government has been engaging extensively with Eurostar on a regular basis since the beginning of the outbreak , including through the Global Travel Taskforce .
We will continue to work closely with them as we support the safe recovery of international travel.
” Read more : Eurostar may need state support as passenger numbers collapse Other transport sectors , such as the @ @ @ @ @ @ @ received generous handouts from the state in order to keep essential services running .
Prior to the pandemic , Eurostar was carrying a record number of passengers , but widespread travel bans and health concerns have decimated international travel .

RMT joins calls for emergency Eurostar funding as passenger numbers collapse
Eurostar
Rail union the RMT has called on the government to provide emergency funding for the Eurostar, saying that a failure to do so threatens the future of the rail link.
As a result of the coronavirus pandemic,the Eurostar is currently battling a 95 per cent decline in passenger numbers.
If the service were to fail due to running out of cash, it would also threaten the future of the HS1 rail route, which is funded by access charges paid by Eurostar.
The call for emergency funding comes just days after the government unveiled extra support for the UK’s airports, in the form of £8m in business rates relief per airport.
RMT general secretary Mick Cash said: “RMT is calling on the government to step in immediately to give lifeline financial support for the important international infra-structure role fulfilled by Eurostar and the thousands of jobs supported both directly and indirectly by the service.
“It is wholly wrong that Eurostar, an eco-friendly service that is a beacon for the future of our railways, is being denied the kind of financial support being offered to the airports.
“The current inaction leaves the service hanging by a thread and all we are asking for is the support needed to maintain viability and stability as we move out of this phase of lockdown and look forward to the future.”
A spokesperson for Eurostar said that the business rates waiver should be extended to the high speed rail sector.
Before the Open newsletter: Start your day with the City View podcast and key market data
“The new scheme of rates relief for airports puts Eurostar at a direct disadvantage against its airline competitors”, they said.
“Eurostar has been left fighting for its survival against a 95 per cent drop in demand, whilst aviation has received over £1.8bn in support through loans, tax deferrals and financing.
“We would ask this scheme to be extended to include international rail services, and more generally for the Government to incorporate high-speed rail in its support for the travel sector, and in doing so help protect the green gateway to Europe.”
A Department for Transport spokesperson said: “We recognise the significant financial challenges facing Eurostar as a result of Covid-19 and the unprecedented circumstances currently faced by the international travel industry.
“The Government has been engaging extensively with Eurostar on a regular basis since the beginning of the outbreak, including through the Global Travel Taskforce. We will continue to work closely with them as we support the safe recovery of international travel.”
Other transport sectors, such as the rail and bus industries, have also received generous handouts from the state in order to keep essential services running.
Prior to the pandemic, Eurostar was carrying a record number of passengers, but widespread travel bans and health concerns have decimated international travel.


cityam--2020-11-26--Tier 2 restrictions for London confirmed post-lockdown

The capital will be placed in tier 2 restrictions when England ’ s national lockdown comes to an end next Wednesday .
London will enter tier 2 along with most parts of England .
Only a handful of areas will be placed in tier 1 , and a significant number will be placed in tier 3 , with the toughest restrictions .
Read more : Covid-19 : London in tier 2 restrictions , so what are the new rules to follow ?
Under tier 2 rules Londoners will be able to frequent pubs – so long as they order a @ @ @ @ @ @ @ , though last orders will be at 10pm , and doors will be shut at 11pm .
Under tier 2 household mixing indoors will still not be allowed , and the ‘ rule of six ’ – whereby six individuals from different households can meet – will apply outside .
Read more : Breaking : London to enter Tier 2 next Wednesday Personal care businesses like hairdressers will be allowed to re-open , and gyms and non-essential shops will open cross-country , regardless of the area tier .
In tier 2 spectators will @ @ @ @ @ @ @ at live performances , but in a limited capacity .
Read more : Fuller ’ s loses £22m in six months following coronavirus restrictions The news will come as a relief to many London businesses .
Earlier this week restaurant owners told City A.M. that placing the capital in tier 3 would be the “ nail in the coffin ” .
Read more : Sadiq Khan : ‘ Right and sensible ’ to put London in Tier 2 after lockdown The latest tier system will be reviewed on 16 December .
Later today @ @ @ @ @ @ @ are in which tiers .
England has been in a national lockdown since early November following a rise in coronavirus cases and deaths .
Eighteen out of London ’ s 32 boroughs saw the number of new infections decline in the week to 19 November , according to the latest official figures .

Tier 2 restrictions for London confirmed post-lockdown
The tier restrictions will come into effect next Wednesday and will remain in place until at least 16 December
The capital will be placed in tier 2 restrictions when England’s national lockdown comes to an end next Wednesday.
London will enter tier 2 along with most parts of England. Only a handful of areas will be placed in tier 1, and a significant number will be placed in tier 3, with the toughest restrictions.
Under tier 2 rules Londoners will be able to frequent pubs – so long as they order a “substantial meal” – and restaurants, though last orders will be at 10pm, and doors will be shut at 11pm.
Under tier 2 household mixing indoors will still not be allowed, and the ‘rule of six’ – whereby six individuals from different households can meet – will apply outside.
Personal care businesses like hairdressers will be allowed to re-open, and gyms and non-essential shops will open cross-country, regardless of the area tier.
In tier 2 spectators will also be allowed at sports events and at live performances, but in a limited capacity.
The news will come as a relief to many London businesses. Earlier this week restaurant owners told City A.M. that placing the capital in tier 3 would be the “nail in the coffin”.
The latest tier system will be reviewed on 16 December. Later today the government will officially confirm which areas are in which tiers.
England has been in a national lockdown since early November following a rise in coronavirus cases and deaths.
Eighteen out of London’s 32 boroughs saw the number of new infections decline in the week to 19 November, according to the latest official figures.


cityam--2020-11-26--Covid-19: London in tier 2 restrictions, so what are the new rules to follow?

London will be placed into tier 2 of the regionalised covid-19 restrictions when the current lockdown ends .
The covid-19 restrictions have been strengthened since before the lockdown , so what are the new rules now that London ’ s in tier 2 .
Read more : Breaking : London to enter Tier 2 next Wednesday Meeting up with friends and family With London in tier 2 up to six people can meet up outdoors .
However , different households can not mix indoors ( unless you have formed a support bubble ) , hence the rise in sales of @ @ @ @ @ @ @ outside your household or bubble , therefore , are still not allowed .
Eats and drinking at pubs and restaurants To follow tier 2 rules , pubs and restaurants must only serve alcohol if part of a “ substantial meal ” although what consitutues “ substantial ” has not yet been defined .
As with before lockdown , it ’ ll be table service only , but there has been a change to cloing time : instead of the 10pm curfew , it will be 10pm for last orders and everybody out by @ @ @ @ @ @ @ will still be available .
Read more : Beers in tiers : The new rules to stick to when pubs reopen after the Covid lockdown Nightclubs , cinemas and bowling alleys remain closed .
Pubs that do not serve food will also stay shut .
The rule of six applies for dining ( and drinking ) outside , there is no household mixing allowed indoors .
Non-essential retail , so the bulk of the high street , malls and retail parks , will reopen after lockdown ends of 2 December .
This is @ @ @ @ @ @ @ can do their Christmas shopping in person ( mask and social distincing measures do apply ) .
Read more : Retailers ‘ relieved ’ as shops get green light to open before Christmas Boris Johnson this week said under all tier retriction levels “ people who can work from home , should continue to do so ” .
However it ’ s expected that as Londoners get out and socialise and shop more under the tier 2 restrictions , many more will travel into the office as well .
Leaving your tier area @ @ @ @ @ @ @ London being placed in tier 2 means capital city dwellers are free to travel out of the city and the country , but hould avoid travelling to a tier 3 area .
It means Londoners can begin to travel out of the area ahead of Christmas , reducing the risk of commuter bottlenecks spreading the infection .
It also means we may be some of the first to use Grant Shapps ’ new airport testing scheme for holiday makers and business travellers returning from abroad .
London hotels and accommodation can welcome a @ @ @ @ @ @ @ restrictions .
As with non-essential retail , the Prime Minister earlier this week said Brits will still be able to head to the gym , book a haircut and get their nails done , no matter which tier restrictions their region must abide by .
You must wear a face mask to your appointment , unless already exempt .

Covid-19: London in Tier 2 restrictions – what are the new rules to follow?
The Christmas lights on Oxford Street could soon have more people shopping beneath them after London enters tier 2 restriction status from next week. (Photo by Dan Kitwood/Getty Images)
London will be placed into Tier 2 of the regionalised covid-19 restrictions when the current lockdown ends.
The covid-19 restrictions have been strengthened since before the lockdown, so what are the new rules now that London’s in Tier 2.
The tier ranking for each region will be reviewed weekly, however restrictions will relax for five days across the entire UK at Christmas which will allow three households to come together indoors. That is not allowed under Tier 2.
Meeting up with friends and family
With London in Tier 2 up to six people can meet up outdoors. However, different households cannot mix indoors (unless you have formed a support bubble), hence the rise in sales of outdoor heaters. Overnight stays with people outside your household or bubble, therefore, are still not allowed.
It’ll be the return of face shields and table service at pubs when they re-open (Photo by Jeff J Mitchell/Getty Images)
Eating and drinking at pubs and restaurants
London pubs and restaurants can once again welcome customers, with restrictions.
To follow Tier 2 rules, pubs and restaurants must only serve alcohol if part of a “substantial meal” although what consitutues “substantial” has not yet been defined.
As with before lockdown, it’ll be table service only, but there has been a change to cloing time: instead of the 10pm curfew, it will be 10pm for last orders and everybody out by 11pm. As with lockdown, takeaway will still be available.
Nightclubs, casinos and bowling alleys remain closed. Pubs that do not serve food will also stay shut.
The rule of six applies for dining (and drinking) outside, there is no household mixing allowed indoors.
How to shop
Non-essential retail, so the bulk of the high street, malls and retail parks, will reopen after lockdown ends of 2 December.
This is regardless of Tier restrictions, so Londoners can do their Christmas shopping in person (mask and social distincing measures do apply).
Britain’s Health Secretary Matt Hancock set out the rules in the House of Commons today, saying he was guided “by the best scientific advice”
Where to work
Boris Johnson this week said under all tier retriction levels “people who can work from home, should continue to do so”. However it’s expected that as Londoners get out and socialise and shop more under the Tier 2 restrictions, many more will travel into the office as well.
Business meetings are allowed in Tier 2, up to 30 members of staff, so long as social distancing is maintained.
The Government also urged Londoner to walk or cycle into work if you can, and travel outside of peak times if using public transport.
Watching sport and live entertainment
London’s Premier League clubs will be allowed to have up to 2,000 people attend matches, under capacity restrictions for live entertainment in Tier 2.
Theatres will also be able to welcome guests back outdoors at 50 per cent capacity or 2,000 people. Indoor performances (that would be most of them in winter) will have attendance capped at 1,000.
Theatres can stay open beyond 11pm, so long as their performances began before 10pm.
Leaving London
Leaving your tier area is only restricted in tier 3. London being placed in Tier 2 means capital city dwellers are free to travel out of the city and the country, but hould avoid travelling to a tier 3 area.
It means Londoners can begin to travel out of the area ahead of Christmas, reducing the risk of commuter bottlenecks spreading the infection.
It also means we may be some of the first to use Grant Shapps’ new airport testing scheme for holiday makers and business travellers returning from abroad. London hotels and accommodation can welcome a wider range of guests under Tier 2 restrictions.
Londoners in tier 2 will be urged to travel only if necessary, but it won’t be illegal
Gyms, barbers and beauty salons
As with non-essential retail, the Prime Minister earlier this week said Brits will still be able to head to the gym, book a haircut and get their nails done, no matter which tier restrictions their region must abide by.
You must wear a face mask to your appointment, unless already exempt.
Education
Schools, nurseries, colleges and universities remain open for study in tier 2, as they were in the nationwide lockdown.
Weddings and funerals
As per pre-lockdown, funerals will be capped at 30 people attending. Wedding celebrations will also be a muted affair, with a maximum limit of 15 attendees.


cityam--2020-11-26--Beers in tiers: The new rules to stick to when pubs reopen after the Covid lockdown

Pub-goers have been waiting to hear when their local will reopen since the second coronavirus lockdown was imposed earlier this month , and they might not have much longer to wait .
Boris Johnson announced on Monday that the current England-wide lockdown will end on 2 December , to be replaced by a new tier system with stricter rules than the previous restrictions .
Read more : Curfew to be pushed back to 11pm but pubs warn restrictions will ‘ destroy ’ sector Whether pubs will be able to reopen will depend on which tier their local area is placed @ @ @ @ @ @ @ subject to some restrictions .
It is not clear yet which tier London will be placed in when the government makes its announcement on Thursday .
Here are the rules customers will have to follow when pubs reopen in England after the coronavirus lockdown Tier 1 – Curfew and rule of six Pubs and bars in Tier 1 areas , where the coronavirus risk is “ medium ” , will be allowed to reopen with social distancing measures in place .
The curfew has been extended to 11pm , although last orders will @ @ @ @ @ @ @ an extra hour to finish up drinks and meals .
Venues that serve alcohol will also have to provide table service .
Groups of six will be allowed to sit together inside or outside , with different households permitted to mix as long as social distancing and other measures such as hand washing are followed .
Hospitality firms that find themselves in Tier 2 on Thursday will face much tougher restrictions than the previous second tier .
As well as the rule of six , table service and the 11pm curfew , customers @ @ @ @ @ @ @ to socialise together indoors under the “ high alert ” restrictions .
Customers will also only be able to consume alcoholic drinks when purchased with a “ substantial meal ” – although what constitutes “ substantial ” has not been confirmed .
Pubs that do not serve food will close .
Pubs in Tier 3 – or “ very high alert ” – areas will remain closed , and will only be able to offer delivery and collection services as many have been doing throughout lockdown .

Beers in tiers: The new tier rules to stick to when pubs reopen next week
Some venues are set to see their energy bills triple, industry bodies have warned
Pub-goers have been waiting to hear when their local will reopen since the second coronavirus lockdown was imposed earlier this month, and they might not have much longer to wait.
Boris Johnson announced on Monday that the current England-wide lockdown will end on 2 December, to be replaced by a new tier system with stricter rules than the previous restrictions.
Whether pubs will be able to reopen will depend on which tier their local area is placed in, and all venues will be subject to some restrictions.
It is not clear yet which tier London will be placed in when the government makes its announcement on Thursday.
Here are the rules customers will have to follow when pubs reopen in England after the coronavirus lockdown
Tier 1 – Curfew and rule of six
Pubs and bars in Tier 1 areas, where the coronavirus risk is “medium”, will be allowed to reopen with social distancing measures in place.
The curfew has been extended to 11pm, although last orders will be called at 10pm, giving punters an extra hour to finish up drinks and meals.
Venues that serve alcohol will also have to provide table service.
Groups of six will be allowed to sit together inside or outside, with different households permitted to mix as long as social distancing and other measures such as hand washing are followed.
Tier 2 – Pubs must serve meals with drinks
Hospitality firms that find themselves in Tier 2 on Thursday will face much tougher restrictions than the previous second tier.
As well as the rule of six, table service and the 11pm curfew, customers from different households will not be allowed to socialise together indoors under the “high alert” restrictions.
Customers will also only be able to consume alcoholic drinks when purchased with a “substantial meal” – although what constitutes “substantial” has not been confirmed.
Pubs that do not serve food will close.
Tier 3 – Pubs close
Pubs in Tier 3 – or “very high alert” – areas will remain closed, and will only be able to offer delivery and collection services as many have been doing throughout lockdown.


cityam--2020-11-26--FCA: Financial services must reflect the diverse industry it serves

Action needs to be taken quickly for financial services to become an industry that is representative of the diverse people it serves , according to city regulator the Financial Conduct Authority ( FCA ) .
“ There is a growing consensus that healthy cultures are purposeful , diverse and inclusive… [ and ] a healthy culture is one where diversity is the fertile soil in which innovation and improvement flourish , ” said the FCA ’ s Jonathan Davison , speaking today at the annual Culture and Conduct Forum for financial services .
Read more : City of London to @ @ @ @ @ @ @ diversity in finance The executive director of supervision said the tragic of George Floyd and the Black Lives Matter movement have increased the public consciousness about inequalities and injustices “ that have no place in modern society ” .
“ Tackling these challenges to the way we work is going to require purposeful leadership , ” Davidson continued , adding that diversity in the workplace also lends benefits to shareholders .
Read more : ‘ Break ’ London banks and give us access to data : fintech firms tell FCA He added : @ @ @ @ @ @ @ view , be skilled in leading both strategic and cultural change – informed by purpose .
”

FCA: Financial services must reflect the diverse industry it serves
FCA’s Jonathan Davidson
Action needs to be taken quickly for financial services to become an industry that is representative of the diverse people it serves, according to city regulator the Financial Conduct Authority (FCA).
“There is a growing consensus that healthy cultures are purposeful, diverse and inclusive… [and] a healthy culture is one where diversity is the fertile soil in which innovation and improvement flourish,” said the FCA’s Jonathan Davison, speaking today at the annual Culture and Conduct Forum for financial services.
The executive director of supervision said the tragic of George Floyd and the Black Lives Matter movement have increased the public consciousness about inequalities and injustices “that have no place in modern society”.
“Tackling these challenges to the way we work is going to require purposeful leadership,” Davidson continued, adding that diversity in the workplace also lends benefits to shareholders.
He added: “Successful leaders will, in my view, be skilled in leading both strategic and cultural change – informed by purpose.”


cityam--2020-11-26--Disney increases layoffs to 32,000 as pandemic hits theme parks

Disney has increased the number of workers it plans to lay off to roughly 32,000 as the coronavirus pandemic continues to batter its theme park business .
The US media giant plans to make the job cuts — which equate to roughly 15 per cent of its total workforce — in the first half of 2021 , according to a filing with the Securities and Exchange Commission .
Read more : Disney doubles down on streaming as it keeps a lid on losses The layoffs , which mark an increase on the 28,000 job losses Disney announced in September , @ @ @ @ @ @ @ division .
Disney this year swung to its first loss in four decades after closures and social distancing measures sparked a sharp downturn in revenue from its parks .
In addition to the layoffs , the House of Mouse said it had roughly 37,000 employees on furlough as of 3 October as a result of the crisis .
These workers are not expected to be laid off .
As of October Disney employed roughly 203,000 people , 80 per cent of whom were full-time workers and 20 per cent were part-time employees .
@ @ @ @ @ @ @ — work in the company ’ s parks , experiences and products segment .
Read more : Pearson appoints Disney veteran Andy Bird as new chief executive Disney ’ s two theme parks in California remain closed amid rising coronavirus cases in the area .
Its venues in Hong Kong , Shanghai and Tokyo have all reopened , albeit with social distancing measures in place .
Disneyland Paris was last month forced to close again after France imposed a fresh lockdown to halt a second wave of infections .

Disney increases layoffs to 32,000 as pandemic hits theme parks
Disneyland said the majority of the cuts will come from its theme park division
Disney has increased the number of workers it plans to lay off to roughly 32,000 as the coronavirus pandemic continues to batter its theme park business.
The US media giant plans to make the job cuts — which equate to roughly 15 per cent of its total workforce — in the first half of 2021, according to a filing with the Securities and Exchange Commission.
The layoffs, which mark an increase on the 28,000 job losses Disney announced in September, will primarily come from its theme park division.
Disney this year swung to its first loss in four decades after closures and social distancing measures sparked a sharp downturn in revenue from its parks.
In addition to the layoffs, the House of Mouse said it had roughly 37,000 employees on furlough as of 3 October as a result of the crisis. These workers are not expected to be laid off.
As of October Disney employed roughly 203,000 people, 80 per cent of whom were full-time workers and 20 per cent were part-time employees.
The bulk of these — roughly 155,000 — work in the company’s parks, experiences and products segment.
Disney’s two theme parks in California remain closed amid rising coronavirus cases in the area.
Its venues in Hong Kong, Shanghai and Tokyo have all reopened, albeit with social distancing measures in place. Disneyland Paris was last month forced to close again after France imposed a fresh lockdown to halt a second wave of infections.


Down, down, down

The price action turned choppy in the closing hours of trade on Wednesday , in part due to the upcoming Thanksgiving holiday in the US which will likely dry some of the liquidity from the market , but also due to expiries this coming Friday .
Still , the resilience showed up until then has been truly impressive and peak FOMO has been such that any dips were almost immediately absorbed .
The tail risk is crowded market and it usually doesn ’ t take much to create a cascade effect .
Overnight , the price action south accelerated further @ @ @ @ @ @ @ saw Bitcoin crash into the low $ 17,000 zone .
At the same time , Ethereum fell from $ 600 all the way down to $ 504 .
As alluded to in the recent commentary , the steep contango structure that prevailed up until now finally narrowed .
Only time will tell whether this is the beginning of a longer and more extensive correction but the overall market structure is very different to the last time Bitcoin traded near these levels .
As such , the base scenario remains intact for now .
@ @ @ @ @ @ @ with Ziglu Crypto AM : Technically Speaking in association with with Zumo Crypto AM : Talking Legal in association with INX Crypto AM shines its Spotlight on OneCycle

Crypto AM Daily in association with BEQUANT

Down, down, down
Choppy Times
The price action turned choppy in the closing hours of trade on Wednesday, in part due to the upcoming Thanksgiving holiday in the US which will likely dry some of the liquidity from the market, but also due to expiries this coming Friday.
Still, the resilience showed up until then has been truly impressive and peak FOMO has been such that any dips were almost immediately absorbed. The tail risk is crowded market and it usually doesn’t take much to create a cascade effect.
In the Markets
Back to Average
Overnight, the price action south accelerated further and the severity of the aforementioned cascade saw Bitcoin crash into the low $17,000 zone.
At the same time, Ethereum fell from $600 all the way down to $504. As alluded to in the recent commentary, the steep contango structure that prevailed up until now finally narrowed.
Only time will tell whether this is the beginning of a longer and more extensive correction but the overall market structure is very different to the last time Bitcoin traded near these levels. As such, the base scenario remains intact for now.
Crypto AM: Longer Reads
Crypto AM: Market View in association with Ziglu
Crypto AM: Technically Speaking in association with with Zumo
Crypto AM: Talking Legal in association with INX
Crypto AM: Inside Blockchain with Troy Norcross
Crypto AM: Definitively DeFi
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM shines its Spotlight on OneCycle


cityam--2020-11-26--Labour hits out at £2bn 'bombshell' council tax rise

Labour has hit out at Rishi Sunak for hiking council tax in yesterday ’ s spending review , claiming it was hidden in the text .
The chancellor ’ s spending review yesterday gave all local authorities the power to increase council tax bills by two per cent without holding a referendum .
Read more : IFS says Sunak likely to end up spending more than planned Local authorities that manage social care institutions are able to hike council tax by a further three per cent .
This means the average council tax will rise by more than £100 and @ @ @ @ @ @ @ as £2bn for the Treasury .
The spending review read : “ Local authorities will be able to increase their council tax bills by two per cent without needing to hold a referendum , and social care authorities will be able to charge an additional three per cent precept to help fund pressures in social care .
“ [ The spending review ] also provides £254 million of additional funding to help end rough sleeping – a 60 per cent cash increase compared to [ the 2019 spending review ] .
” Before @ @ @ @ @ @ @ with the City View podcast and key market data Labour ’ s shadow chief secretary to the Treasury Bridget Phillipson hit out at Sunak for including the measure and not mentioning it in his speech to MPs yesterday .
“ It appears that there ’ s a £1bn council tax bombshell lurking in those documents – that ’ s the kind of trick that George Osborne used to pull , ” she said .
The measure will help claw back a tiny amount of the government ’ s spending this year on the @ @ @ @ @ @ @ .
Read more : Khan : Nothing to help London in any meaningful way in spending review Sunak said yesterday that this year ’ s deficit will be a record £394bn – the highest ever in peace time .
Sunak cut the foreign aid budget to save money , while also signalling that tax increases are on the horizon once the economy has begun to recover .

Labour hits out at £2bn ‘bombshell’ council tax rise
Chancellor Rishi Sunak visits the Imperial Clinic Research Facility at Hammersmith Hospital yesterday
Labour has hit out at Rishi Sunak for hiking council tax in yesterday’s spending review, claiming it was hidden in the text.
The chancellor’s spending review yesterday gave all local authorities the power to increase council tax bills by two per cent without holding a referendum.
Local authorities that manage social care institutions are able to hike council tax by a further three per cent.
This means the average council tax will rise by more than £100 and the measure could bring in as much as £2bn for the Treasury.
The spending review read: “Local authorities will be able to increase their council tax bills by two per cent without needing to hold a referendum, and social care authorities will be able to charge an additional three per cent precept to help fund pressures in social care.
“[The spending review] also provides £254 million of additional funding to help end rough sleeping – a 60 per cent cash increase compared to [the 2019 spending review].”
Before the Open newsletter: Start your day with the City View podcast and key market data
Labour’s shadow chief secretary to the Treasury Bridget Phillipson hit out at Sunak for including the measure and not mentioning it in his speech to MPs yesterday.
“It appears that there’s a £1bn council tax bombshell lurking in those documents – that’s the kind of trick that George Osborne used to pull,” she said.
The measure will help claw back a tiny amount of the government’s spending this year on the Covid crisis, which will exceed £280bn.
Sunak said yesterday that this year’s deficit will be a record £394bn – the highest ever in peace time.
Sunak cut the foreign aid budget to save money, while also signalling that tax increases are on the horizon once the economy has begun to recover.


cityam--2020-11-26--Breaking: London to enter Tier 2 next Wednesday

London will return to Tier 2 when England ’ s national lockdown lifts next Wednesday , the government has announced .
Liverpool will join the capital in the middle tier on 2 December , while Manchester , Lancashire , Blackpool , Kent and Birmingham will enter Tier 3 .
Just three regions — the Isle of Wight , Cornwall and the Isles of Scilly — will enter Tier 1 .
Tier 2 will mean up to six people can meet outdoors , though a ban on household mixing will remain in place indoors .
The government published the changes through @ @ @ @ @ @ @ a few minutes after going live .
Health secretary Matt Hancock is due to formally announce the changes this morning , with Boris Johnson confirming them to the public this afternoon .
Read more : MPs amp up pressure to avoid placing London in Tier 3 when lockdown lifts Hancock said : “ I know for those of you faced with Tier 3 restrictions this will be a particularly difficult time but I want to reassure you that we ’ ll be supporting your areas with mass community testing and extra funding.
” @ @ @ @ @ @ @ on 2 December in place of a revised system of restrictions that will allow shops , gyms and hairdressers to reopen across the country .
Collective worship and outdoor sports will also be able to resume across all three tiers .
Pubs and restaurants will be allowed to reopen in Tier 1 and Tier 2 , but must remain as takeaway-only services in Tier 3 .
The 10pm curfew for pubs and bars will be replaced with a 10pm bell for last orders , with venues allowed to stay open until 11pm .
@ @ @ @ @ @ @ ’ s first lockdown in March , sports fans will be allowed back into outdoor stadiums in areas with the lowest cases of coronavirus .
Tier 3 will see a ban on household mixing both indoors and outdoors , with the rule of six in outdoor spaces such as parks and sports courts .
Tier allocations are based on five criteria , including case numbers across all age groups ; cases in those aged over 60 ; the rate of rise or fall in infections ; the percentage of those tested who have @ @ @ @ @ @ @ pressures on the NHS locally .
Unlike the previous system , there will be no negotiation with local leaders over the classification , with financial support allocated on a uniform per-capita basis .
Regional tier positions will be reviewed every 14 days , with the restrictions likely to be in place until March .
The first review for the current tier allocations will take place by Wednesday 16 December .
Announcing the new system in a virtual address to the Commons on Monday , Johnson cautioned that “ the incidence of the disease @ @ @ @ @ @ @ so we ’ re not going to replace national measures with a free for all status quo ” .
Read more : Beers in tiers : The new rules to stick to when pubs reopen after the Covid lockdown “ I ’ m sorry to say we expect that more regions will fall , at least temporarily , into higher levels than before , ” Johnson told MPs .
“ But by using these tougher tiers , and by using rapid turnaround tests on an ever greater scale to drive R below 1 @ @ @ @ @ @ @ should be possible for areas to move down the tiering scale to lower levels of restrictions , ” he added .
Cities of London and Westminster MP Nickie Aiken MP said : “ Whilst I ’ m relieved London hasn ’ t gone into Tier 3 , I remain concerned about the economic affects tier 2 will have – particularly on the hospitality sector .
“ Restaurants , cafes and pubs have worked incredibly hard to be Covid secure .
I will continue to push the government to publish a clear pathway for @ @ @ @ @ @ @ ” MPs representing areas in the North hit out at the new Tier 3 restrictions , warning they would “ cripple ” businesses in the run-up to Christmas .
Tory MP Steve Baker , chair of the lockdown-sceptic Covid Recovery Group , urged the government to publish its methodology for allocating the tier system .
Read more : Sadiq Khan : ‘ Right and sensible ’ to put London in Tier 2 after lockdown “ The authoritarianism at work today is truly appalling .
But is it necessary and proportionate to the threat @ @ @ @ @ @ @ .
“ On the economy and on coronavirus , I fear we are now so far down the rabbit hole that we have forgotten we even entered it .
”

London to enter Tier 2 next Wednesday
The tier restrictions will come into effect next Wednesday and will remain in place until at least 16 December
London will return to Tier 2 when England’s national lockdown lifts next Wednesday, the government has announced.
Liverpool will join the capital on “high alert” on 2 December, while Manchester, Lancashire, Blackpool, Kent and Birmingham will enter Tier 3.
Just three regions — the Isle of Wight, Cornwall and the Isles of Scilly — will enter Tier 1.
That means almost 99 per cent of the English population will come under the higher Tier 2 and Tier 3 levels when they come into effect next week.
Tier 2 will mean up to six people can meet outdoors, though a ban on household mixing will remain in place indoors.
The government published the changes through a postcode checker website which crashed just a few minutes after going live.
Announcing the changes this morning, health secretary Matt Hancock said: “I know for those of you faced with Tier 3 restrictions this will be a particularly difficult time but I want to reassure you that we’ll be supporting your areas with mass community testing and extra funding.”
Shops, gyms and hairdressers will be allowed to reopen under all three tiers from next week, while collective worship and outdoor sports will also be able to resume.
Pubs and restaurants will be allowed to reopen in Tier 1 and Tier 2, but must remain as takeaway-only services in Tier 3.
The 10pm curfew for pubs and bars will be replaced with a 10pm bell for last orders, with venues allowed to stay open until 11pm.
For the first time since the country’s first lockdown in March, sports fans will be allowed back into outdoor stadiums in areas with the lowest cases of coronavirus.
Tier 3 will see a ban on household mixing both indoors and outdoors, with the rule of six in outdoor spaces such as parks and sports courts.
Tier allocations are based on five criteria, including case numbers across all age groups; cases in those aged over 60; the rate of rise or fall in infections; the percentage of those tested who have the virus; and current and projected pressures on the NHS locally.
Unlike the previous system, there will be no negotiation with local leaders over the classification, with financial support allocated on a uniform per-capita basis.
Regional tier positions will be reviewed every 14 days, with the restrictions likely to be in place until March. The first review for the current tier allocations will take place by Wednesday 16 December.
Announcing the new system in a virtual address to the Commons on Monday, Johnson cautioned that “the incidence of the disease is still widespread in many areas, so we’re not going to replace national measures with a free for all status quo”.
“I’m sorry to say we expect that more regions will fall, at least temporarily, into higher levels than before,” Johnson told MPs.
“But by using these tougher tiers, and by using rapid turnaround tests on an ever greater scale to drive R below 1 and keep it at that, it should be possible for areas to move down the tiering scale to lower levels of restrictions,” he added.
Cities of London and Westminster MP Nickie Aiken MP said: “Whilst I’m relieved London hasn’t gone into Tier 3, I remain concerned about the economic affects tier 2 will have – particularly on the hospitality sector.
“Restaurants, cafes and pubs have worked incredibly hard to be Covid secure. I will continue to push the government to publish a clear pathway for how we can move into Tier 1.”
MPs representing areas in the North hit out at the new Tier 3 restrictions, warning they would “cripple” businesses in the run-up to Christmas.
Tory MP Steve Baker, chair of the lockdown-sceptic Covid Recovery Group, urged the government to publish its methodology for allocating the tier system.
“The authoritarianism at work today is truly appalling. But is it necessary and proportionate to the threat from this disease?” he tweeted.
“On the economy and on coronavirus, I fear we are now so far down the rabbit hole that we have forgotten we even entered it.”


cityam--2020-11-27--Tiered lockdowns spread gloom over UK services sector

Firms in the UK services sector became much more gloomy in the third quarter of the year as the Covid “ second wave crashed ” , after optimism picked up in the summer when cases were falling , the latest CBI survey has shown .
The consumer services sector was particularly downbeat , with the pandemic hitting business harder than in the business and professional services sector .
Despite the recent positive news about coronavirus vaccines , the UK ’ s services-dominated economy faces a tough winter with restrictions in place to try to curb infections .
Consumer service businesses @ @ @ @ @ @ @ disappointed by the government ’ s announcement yesterday that most of the country will go into strict tier two or tier three restrictions when the England-wide lockdown ends on 2 December .
The CBI ’ s quarterly services survey today showed that businesses were hit hard by the tiered restrictions in the three months to November .
Sentiment among consumer service firms about the general business situation dropped to a score of minus 34 in the quarter , compared to minus 20 in the previous 12 months .
The figure headed back in @ @ @ @ @ @ @ of minus 86 recorded in the first quarter .
“ The impact has been more pronounced in consumer services , ” said Ben Jones , principal economist at the business lobby group the CBI .
He said they “ have been hit the hardest by shifts in consumer behaviour , social distancing rules and the Autumn lockdowns ” .
“ But many business-facing services are also struggling from weaker demand , from recruiters and building managers to advertising firms , accountants and lawyers.
” In the business and professional services sector , sentiment @ @ @ @ @ @ @ quarter from plus nine in the three months to August .
Read more : UK borrowing to hit record £394bn as economy shrinks 11.3 per cent The survey showed that employment dropped at a slower pace across the service sector as a whole .
Yet headcount is still tipped to continue falling over the next three months , albeit at a slower pace .
Companies reported that they did not intend to invest in the coming months due to invest uncertainty about future demand .

Tiered lockdowns spread gloom over UK services sector
Pubs and restaurants in the capital are struggling to find enough staff to keep the show on the road
Firms in the UK services sector became much more gloomy in the third quarter of the year as the Covid “second wave crashed”, after optimism picked up in the summer when cases were falling, the latest CBI survey has shown.
The consumer services sector was particularly downbeat, with the pandemic hitting business harder than in the business and professional services sector.
Despite the recent positive news about coronavirus vaccines, the UK’s services-dominated economy faces a tough winter with restrictions in place to try to curb infections.
Consumer service businesses such as restaurants and hotels were left disappointed by the government’s announcement yesterday that most of the country will go into strict tier two or tier three restrictions when the England-wide lockdown ends on 2 December.
The CBI’s quarterly services survey today showed that businesses were hit hard by the tiered restrictions in the three months to November.
Consumer services firms highly pessimistic
Sentiment among consumer service firms about the general business situation dropped to a score of minus 34 in the quarter, compared to minus 20 in the previous 12 months.
The figure headed back in the direction of the record low score of minus 86 recorded in the first quarter.
“The impact has been more pronounced in consumer services,” said Ben Jones, principal economist at the business lobby group the CBI.
He said they “have been hit the hardest by shifts in consumer behaviour, social distancing rules and the Autumn lockdowns”.
“But many business-facing services are also struggling from weaker demand, from recruiters and building managers to advertising firms, accountants and lawyers.”
In the business and professional services sector, sentiment dropped to minus 21 in the third quarter from plus nine in the three months to August.
The survey showed that employment dropped at a slower pace across the service sector as a whole. Yet headcount is still tipped to continue falling over the next three months, albeit at a slower pace.
Companies reported that they did not intend to invest in the coming months due to invest uncertainty about future demand.


cityam--2020-11-27--Government ask regulator to approve Astrazeneca/Oxford vaccine for emergency supply

The government has formally asked the UK ’ s medicines regulator to authorise Astrazeneca and Oxford University ’ s coronavirus vaccine for emergency supply .
If the vaccine is approved , it could speed up the rollout of the treatment across the UK .
Read more : Astrazeneca mulling extra vaccine trial to ‘ validate ’ efficacy after results confusion Regulators will begin to assess the vaccine when they receive full data from ongoing trials being carried out by Astrazeneca .
The decision to seek emergency approval of the vaccine comes a few days after the company revealed that it @ @ @ @ @ @ @ against the disease .
This rose to 90 per cent in a trial which saw participants receive a half dose and then a full dose , but there have been questions over the results .
In order to validate the figures , Astrazeneca ’ s chief exec today said that the company was mulling a further trial of the half-dose regime .
Before the Open newsletter : Start your day with the City View podcast and key market data Health officials have written to the Medicines and Healthcare products Regulatory Agency ( MHRA @ @ @ @ @ @ @ under Regulation 174 of the Human Medicines Regulations , which enables the temporary supply of medicines to be authorised in response to a public health need .
The MHRA has already started a rolling review to determine whether the Oxford/AstraZeneca vaccine meets its strict standards of safety , efficacy and quality .
Health secretary Matt Hancock said : “ We are working tirelessly to be in the best possible position to deploy a vaccine as soon as one is approved by the independent regulator the MHRA .
“ We have formally asked the @ @ @ @ @ @ @ to understand the data and determine whether it meets rigorous safety standards .
This letter is an important step towards deploying a vaccine as quickly as safely possible.
” Read more : Hancock says vaccine roll-out could mean a return to normality by Easter If the vaccine is authorised , the company is expected to provide 4m doses to the UK before the end of the year .
By the end of March , the number of shots delivered is expected to rise to 40m .
In total , the UK has bought @ @ @ @ @ @

Government urges regulator to approve Astrazeneca-Oxford vaccine for emergency supply
The government has formally asked the UK’s medicines regulator to authorise Astrazeneca and Oxford University’s coronavirus vaccine for emergency supply.
If the vaccine is approved, it could speed up the rollout of the treatment across the UK.
Regulators will begin to assess the vaccine when they receive full data from ongoing trials being carried out by Astrazeneca.
The decision to seek emergency approval of the vaccine comes a few days after the company revealed that it had a 70 per cent efficacy rate against the disease.
This rose to 90 per cent in a trial which saw participants receive a half dose and then a full dose, but there have been questions over the results.
In order to validate the figures, Astrazeneca’s chief exec today said that the company was mulling a further trial of the half-dose regime.
Before the Open newsletter: Start your day with the City View podcast and key market data
Health officials have written to the Medicines and Healthcare products Regulatory Agency (MHRA) to assess the vaccine for authorisation under Regulation 174 of the Human Medicines Regulations, which enables the temporary supply of medicines to be authorised in response to a public health need.
The MHRA has already started a rolling review to determine whether the Oxford/AstraZeneca vaccine meets its strict standards of safety, efficacy and quality.
Health secretary Matt Hancock said: “We are working tirelessly to be in the best possible position to deploy a vaccine as soon as one is approved by the independent regulator the MHRA.
“We have formally asked the regulator to assess the Oxford/AstraZeneca vaccine, to understand the data and determine whether it meets rigorous safety standards. This letter is an important step towards deploying a vaccine as quickly as safely possible.”
If the vaccine is authorised, the company is expected to provide 4m doses to the UK before the end of the year.
By the end of March, the number of shots delivered is expected to rise to 40m. In total, the UK has bought 100m doses of the vaccine.


cityam--2020-11-27--Tech giants hit with new rules amid calls to fix ‘dysfunctional’ ad market

Facebook and Google will be subjected to tighter scrutiny over how they use consumer data as ministers face calls to fix the “ dysfunctional ” online advertising market .
The government today announced the launch of a new digital markets unit aimed at curbing the dominance of tech giants and giving consumers greater control over their personal data .
Read more : New : Watchdog mulls Google probe over ‘ anti-competitive ’ advertising tech Under a new code of conduct , platforms such as Facebook and Google will be required to show greater transparency about the services they provide and @ @ @ @ @ @ @ will also be made to give users a choice over whether to receive personalised advertising and will be blocked from making it harder for their users to switch to rival platforms .
The new unit , which will come into force in April , will be granted powers to suspend , block and reverse the decisions of tech giants , order them to take actions to comply with the code and issue fines for any breaches .
It comes as a House of Lords committee ramped up pressure on the government to “ @ @ @ @ @ @ @ tech regulation .
In a report published today , peers blasted the “ dysfunctional ” online ad market , highlighting in particular the “ fundamental imbalance of power ” between platforms and news publishers .
“ Online advertising is crucial to news publishers ’ success , but there ’ s a fundamental imbalance of power between them and platforms such as Facebook and Google whose overwhelming market dominance means they dictate the terms on which they use publishers ’ content , including whether and how much they pay for it , ” said @ @ @ @ @ @ @ the Lords Communications and Digital Committee .
The government said its digital markets unit was designed to level the playing field for small businesses , ensuring they are given fair terms for services such as digital advertising .
In particular , it said the new code will address the power of tech giants to limit the amount of revenue publishers can generate from their content .
But the peers called for ministers to go further and force online platforms to pay publishers for the right to use their content .
They also called @ @ @ @ @ @ @ data to rival search engines and social media companies to let their users see posts on other platforms .
Read more : European tech industry calls for delay to new regulation The new unit , which will be set up within the Competition and Markets Authority ( CMA ) , comes in response to the watchdog ’ s study into the digital advertising market .
In its findings published in July , the CMA found that tech giants such as Google and Facebook had built up an “ unassailable market position ” , @ @ @ @ @ @ @ digital advertising spend in the UK .
It also concluded that a lack of competition in the market pushed up prices for consumers and acted as a “ brake on innovation ” .
CMA boss Andrea Coscelli today welcomed the formation of the new digital markets unit , adding : “ Only through a new pro-competition regulatory regime can we tackle the market power of tech giants like Facebook and Google and ensure that businesses and consumers are protected.
” The new measures form part of a wider crackdown on tech giants amid @ @ @ @ @ @ @ to stamp out misinformation and harmful content .
The government is currently consulting with the newly-created digital markets taskforce over a new regulatory regime , which will be consulted on in 2021 .
Culture secretary Oliver Dowden said that while he was “ unashamedly pro-tech ” , the new measures were required to tackle anti-competitive practices in the market .
“ There is growing consensus in the UK and abroad that the concentration of power among a small number of tech companies is curtailing growth of the sector , reducing innovation and having @ @ @ @ @ @ @ that rely on them , ” he said .
Ronan Harris , vice president of Google UK and Ireland , said : “ Online tools have proved to be a lifeline during the pandemic and they can help create a digital , sustainable and inclusive recovery .
“ We support an approach that benefits people , businesses and society and we look forward to working constructively with the Digital Markets Unit so that everyone can make the most of the internet.
” Read more : EU to ban tech firms from promoting their @ @ @ @ @ @ @ report , entitled Breaking News ?
The Future of UK Journalism , said digital platforms were “ part of a bigger problem ” for news publishers .
Laying out its damning findings , the committee concluded that British journalism was facing an “ existential threat ” , and urged ministers to fast track new regulation to help ensure the industry ’ s survival .
Aside from addressing the digital ad market , peers said the government should also grant Ofcom powers to regulate public service broadcasters ’ online news .
They also called @ @ @ @ @ @ @ assume the role of internet regulator — to ensure that public service broadcasters monitor the accuracy and impartiality of their journalists ’ social media posts .
It comes after new BBC director general Tim Davie outlined strict new rules banning the organisation ’ s stars from expressing personal opinions online .

Tech giants hit with new rules amid calls to fix ‘dysfunctional’ ad market
Facebook and Google will be subjected to tighter scrutiny over how they use consumer data as ministers face calls to fix the “dysfunctional” online advertising market.
The government today announced the launch of a new digital markets unit aimed at curbing the dominance of tech giants and giving consumers greater control over their personal data.
Under a new code of conduct, platforms such as Facebook and Google will be required to show greater transparency about the services they provide and how they use consumer data.
They will also be made to give users a choice over whether to receive personalised advertising and will be blocked from making it harder for their users to switch to rival platforms.
The new unit, which will come into force in April, will be granted powers to suspend, block and reverse the decisions of tech giants, order them to take actions to comply with the code and issue fines for any breaches.
It comes as a House of Lords committee ramped up pressure on the government to “stop dragging its feet” over new tech regulation.
In a report published today, peers blasted the “dysfunctional” online ad market, highlighting in particular the “fundamental imbalance of power” between platforms and news publishers.
“Online advertising is crucial to news publishers’ success, but there’s a fundamental imbalance of power between them and platforms such as Facebook and Google whose overwhelming market dominance means they dictate the terms on which they use publishers’ content, including whether and how much they pay for it,” said Lord Gilbert of Panteg, chair of the Lords Communications and Digital Committee.
The government said its digital markets unit was designed to level the playing field for small businesses, ensuring they are given fair terms for services such as digital advertising.
In particular, it said the new code will address the power of tech giants to limit the amount of revenue publishers can generate from their content.
But the peers called for ministers to go further and force online platforms to pay publishers for the right to use their content. They also called for new rules requiring Google to give data to rival search engines and social media companies to let their users see posts on other platforms.
Tackling the tech titans
The new unit, which will be set up within the Competition and Markets Authority (CMA), comes in response to the watchdog’s study into the digital advertising market.
In its findings published in July, the CMA found that tech giants such as Google and Facebook had built up an “unassailable market position”, taking roughly 80 per cent of all digital advertising spend in the UK.
It also concluded that a lack of competition in the market pushed up prices for consumers and acted as a “brake on innovation”.
CMA boss Andrea Coscelli today welcomed the formation of the new digital markets unit, adding: “Only through a new pro-competition regulatory regime can we tackle the market power of tech giants like Facebook and Google and ensure that businesses and consumers are protected.”
The new measures form part of a wider crackdown on tech giants amid concerns about monopolistic behaviour and a failure to stamp out misinformation and harmful content.
The government is currently consulting with the newly-created digital markets taskforce over a new regulatory regime, which will be consulted on in 2021.
Culture secretary Oliver Dowden said that while he was “unashamedly pro-tech”, the new measures were required to tackle anti-competitive practices in the market.
“There is growing consensus in the UK and abroad that the concentration of power among a small number of tech companies is curtailing growth of the sector, reducing innovation and having negative impacts on the people and businesses that rely on them,” he said.
Ronan Harris, vice president of Google UK and Ireland, said: “Online tools have proved to be a lifeline during the pandemic and they can help create a digital, sustainable and inclusive recovery.
“We support an approach that benefits people, businesses and society and we look forward to working constructively with the Digital Markets Unit so that everyone can make the most of the internet.”
The future of journalism
The Lords report, entitled Breaking News? The Future of UK Journalism, said digital platforms were “part of a bigger problem” for news publishers.
Laying out its damning findings, the committee concluded that British journalism was facing an “existential threat”, and urged ministers to fast track new regulation to help ensure the industry’s survival.
Aside from addressing the digital ad market, peers said the government should also grant Ofcom powers to regulate public service broadcasters’ online news.
They also called for Ofcom — which is set to assume the role of internet regulator — to ensure that public service broadcasters monitor the accuracy and impartiality of their journalists’ social media posts.
It comes after new BBC director general Tim Davie outlined strict new rules banning the organisation’s stars from expressing personal opinions online.


cityam--2020-11-26--Amazon to give frontline staff $500m in bonuses amid safety concerns

Amazon will give its frontline staff working over the holiday period combined bonuses worth $ 500m , the firm confirmed today .
The bonus comes at the end of a year in which the e-commerce giant has come under intense scrutiny over working practices for employees amid the coronavirus pandemic .
Read more : Amazon ‘ sacks dozens of staff ’ on drone delivery programme Sales at the tech firm have soared this year as housebound people increasingly resorted to Amazon to get items delivered .
Frontline staff working between 1 December and 31 December will each receive $ 300 @ @ @ @ @ @ @ 150 .
In a blog post , Dave Clark , senior vice president of Amazon Worldwide Operations , said : “ As we head into the peak of the holiday season , we want to share our appreciation through another special recognition bonus , totaling more than $ 500m for our front-line employees .
“ Our teams are doing amazing work serving customers ’ essential needs , while also helping to bring some much-needed holiday cheer for socially-distanced families around the world .
Before the Open newsletter : Start your day with the @ @ @ @ @ @ @ “ I ’ ve never been more grateful for—or proud of—our teams.
” The bonuses come on top on another $ 500m “ thank you ” pay out made earlier this year .
The announcement comes just after labour activists in the US called on the retailer to do more to protect workers over the Christmas period among a surge in coronavirus cases .
They called for hazard pay , paid sick leave and better communication about outbreaks , among other things .
Read more : EU accuses Amazon of ‘ distorting ’ @ @ @ @ @ @ @ of the closure of bricks and mortar retail due to the pandemic , sales at Amazon rose 37 per cent to $ 96.1bn in the three months to 30 September .
And profits hit a record $ 6.3bn , nearly three times last year ’ s total .

Amazon to give frontline staff $500m in bonuses amid safety concerns
Amazon will give its frontline staff working over the holiday period combined bonuses worth $500m, the firm confirmed today.
The bonus comes at the end of a year in which the e-commerce giant has come under intense scrutiny over working practices for employees amid the coronavirus pandemic.
Sales at the tech firm have soared this year as housebound people increasingly resorted to Amazon to get items delivered.
Frontline staff working between 1 December and 31 December will each receive $300, while part-time staff will get $150.
In a blog post, Dave Clark, senior vice president of Amazon Worldwide Operations, said: “As we head into the peak of the holiday season, we want to share our appreciation through another special recognition bonus, totaling more than $500m for our front-line employees.
“Our teams are doing amazing work serving customers’ essential needs, while also helping to bring some much-needed holiday cheer for socially-distanced families around the world.
Before the Open newsletter: Start your day with the City View podcast and key market data
“I’ve never been more grateful for—or proud of—our teams.”
The bonuses come on top on another $500m “thank you” pay out made earlier this year.
The announcement comes just after labour activists in the US called on the retailer to do more to protect workers over the Christmas period among a surge in coronavirus cases.
They called for hazard pay, paid sick leave and better communication about outbreaks, among other things.
As a result of the closure of bricks and mortar retail due to the pandemic, sales at Amazon rose 37 per cent to $96.1bn in the three months to 30 September.
And profits hit a record $6.3bn, nearly three times last year’s total.


cityam--2020-11-26--Astrazeneca mulling extra vaccine trial to 'validate' efficacy after results confusion

Astrazeneca ’ s chief executive today said that the firm was likely to carry out another trial of its potential coronavirus vaccine after doubts were raised as to its efficacy .
The admission , which was reported by Bloomberg , came after reports that a number of participants had received the wrong dosage during the trials .
Read more : Analysis : Why dismay over the Astrazeneca vaccine is misplaced When the FTSE 100 group reported the results of its trial on Monday , the vaccine , which is being developed in partnership with Oxford University , was found to @ @ @ @ @ @ @ in one of its data sets .
But celebrations were replaced by confusion when it transpired that the 90 per cent rate referred to a trial in which participants received one half dose and then a full dose of the virus .
The efficacy rate for those who received two full doses , on the other hand , was 62 per cent , for an average of 70 per cent overall .
Concerns grew later when it transpired that the lower doses had been given in error , and to a group of @ @ @ @ @ @ @ : Start your day with the City View podcast and key market data “ Now that we ’ ve found what looks like a better efficacy we have to validate this , so we need to do an additional study , ” chief executive Pascal Soriot told Bloomberg .
Instead of adding to the ongoing trial in the US , the new study will instead evaluate the effectiveness of a lower dose of the vaccine that performed better than the full dose in the earlier trial .
Soriot added that he did not @ @ @ @ @ @ @ the process of getting the Astrazeneca vaccine approved by regulators in the UK and EU .
A spokesman for Astrazeneca said the firm would work with regulators to investigate the results : “ As we communicated earlier this week , there is strong merit in continuing to further investigate the half-dose/full dose regimen.
” “ We are further evaluating the data and will work with regulators on the best approach for further evaluation .
“ This would add to data from existing trials which are currently being prepared for regulatory submission , ” @ @ @ @ @ @ @ and University of Oxford vaccine 70 per cent effective Soriot ’ s comments , which came just before markets closed today , sent the blue-chip ’ s shares down 0.7 per cent .
Over the course of the week the group ’ s stock has fallen seven per cent as questions over the trial multiplied .

Astrazeneca mulling extra vaccine trial to ‘validate’ efficacy after results confusion
Astrazeneca’s chief executive today said that the firm was likely to carry out another trial of its potential coronavirus vaccine after doubts were raised as to its efficacy.
The admission, which was reported by Bloomberg, came after reports that a number of participants had received the wrong dosage during the trials.
When the FTSE 100 group reported the results of its trial on Monday, the vaccine, which is being developed in partnership with Oxford University, was found to have a 90 per cent efficacy rate in one of its data sets.
But celebrations were replaced by confusion when it transpired that the 90 per cent rate referred to a trial in which participants received one half dose and then a full dose of the virus.
The efficacy rate for those who received two full doses, on the other hand, was 62 per cent, for an average of 70 per cent overall.
Concerns grew later when it transpired that the lower doses had been given in error, and to a group of younger participants.
Before the Open newsletter: Start your day with the City View podcast and key market data
“Now that we’ve found what looks like a better efficacy we have to validate this, so we need to do an additional study,” chief executive Pascal Soriot told Bloomberg.
Instead of adding to the ongoing trial in the US, the new study will instead evaluate the effectiveness of a lower dose of the vaccine that performed better than the full dose in the earlier trial.
Soriot added that he did not think the extra trial would hold up the process of getting the Astrazeneca vaccine approved by regulators in the UK and EU.
A spokesman for Astrazeneca said the firm would work with regulators to investigate the results: “As we communicated earlier this week, there is strong merit in continuing to further investigate the half-dose/full dose regimen.”
“We are further evaluating the data and will work with regulators on the best approach for further evaluation.
“This would add to data from existing trials which are currently being prepared for regulatory submission,” he said.
Soriot’s comments, which came just before markets closed today, sent the blue-chip’s shares down 0.7 per cent.
Over the course of the week the group’s stock has fallen seven per cent as questions over the trial multiplied.


cityam--2020-11-26--Aviation groups push for airport slot waiver extension

Leading aviation organisations have pushed for airport slot rules to be waived into the summer as airlines continue to battle the coronavirus downturn .
Under the existing rules , which have been suspended since March , airlines which do not use 80 per cent of their take-off and landing slots have to cede them to rival carriers .
Read more : Wizz Air slams slot suspension as it seeks to grow presence at Gatwick The current waiver is due to expire on 31 March , but led by the International Air Travel Association ( IATA ) , a push to @ @ @ @ @ @ @ some carriers are unhappy with the proposal , which could see them lose out on the chance to take over some lucrative slots from failing carriers .
In a statement , IATA and airports body Airports Council International ( ACI World ) called on regulators to extend the suspension “ as quickly as possible in order to preserve essential air transport connectivity ” .
“ As a result of the collapse in demand from the COVID-19 crisis , some 65 per cent of direct city pair connections vanished in the first quarter of @ @ @ @ @ @ @ Slot-regulated airports serve almost half of all passengers and are the backbone of the global scheduled airline network .
But recovery is impossible while there is no certainty on the rules governing the use and retention of airport slots .
Before the Open newsletter : Start your day with the City View podcast and key market data “ The existing slot rules were never designed to cope with a prolonged industry collapse .
Regulators temporarily suspended the rules for Summer and Winter 2020 to give the industry vital breathing space .
“ International @ @ @ @ @ @ @ expected to return to about 25 per cent of 2019 levels by summer 2021 .
In order to preserve connectivity while air traffic recovers , a more flexible system of slot regulation is essential.
” Low-cost carriers Wizz Air and Ryanair have both voiced their opposition to the proposal , saying that they could damage competitiveness in the sector .
Both airlines have frequently criticised governments for handing out whopping chunks of state aid to keep their flag carriers airborne through the crisis .
Wizz is known to be targeting a slots at @ @ @ @ @ @ @ carriers cut services due to the pandemic .
Read more : Global airlines will need $ 80bn more to stay airborne , IATA warns A spokesperson for Ryanair said : “ We oppose the extension of slot waivers into summer 2021 because this will lead to fewer flights and higher fares for consumers .
“ Legacy airlines at hub airports will have no incentives to operate flights , ” she added .
“ Slot waivers distort competition by preventing low-fare airlines from expanding while legacy carriers are able to reduce capacity and raise @ @ @

Aviation groups push for airport slot waiver extension
Leading aviation organisations have pushed for airport slot rules to be waived into the summer as airlines continue to battle the coronavirus downturn.
Under the existing rules, which have been suspended since March, airlines which do not use 80 per cent of their take-off and landing slots have to cede them to rival carriers.
The current waiver is due to expire on 31 March, but led by the International Air Travel Association (IATA), a push to renew the suspension is underway.
But some carriers are unhappy with the proposal, which could see them lose out on the chance to take over some lucrative slots from failing carriers.
In a statement, IATA and airports body Airports Council International (ACI World) called on regulators to extend the suspension “as quickly as possible in order to preserve essential air transport connectivity”.
“As a result of the collapse in demand from the COVID-19 crisis, some 65 per cent of direct city pair connections vanished in the first quarter of 2020”, it read.
“Slot-regulated airports serve almost half of all passengers and are the backbone of the global scheduled airline network. But recovery is impossible while there is no certainty on the rules governing the use and retention of airport slots.
Before the Open newsletter: Start your day with the City View podcast and key market data
“The existing slot rules were never designed to cope with a prolonged industry collapse. Regulators temporarily suspended the rules for Summer and Winter 2020 to give the industry vital breathing space.
“International air traffic, though, is only expected to return to about 25 per cent of 2019 levels by summer 2021. In order to preserve connectivity while air traffic recovers, a more flexible system of slot regulation is essential.”
Low-cost carriers Wizz Air and Ryanair have both voiced their opposition to the proposal, saying that they could damage competitiveness in the sector.
Both airlines have frequently criticised governments for handing out whopping chunks of state aid to keep their flag carriers airborne through the crisis.
Wizz is known to be targeting a slots at Gatwick Airport, which has seen many carriers cut services due to the pandemic.
A spokesperson for Ryanair said: “We oppose the extension of slot waivers into summer 2021 because this will lead to fewer flights and higher fares for consumers.
“Legacy airlines at hub airports will have no incentives to operate flights,” she added. “Slot waivers distort competition by preventing low-fare airlines from expanding while legacy carriers are able to reduce capacity and raise prices.”


cityam--2020-11-26--Toast the end of lockdown with a cocktail literally fit for a queen

Next week , you ’ ll be able to walk down to the Connaught Bar yourself and sample a drink from officially the best bar in the world .
Until then , here ’ s how to throw one together yourself – perfect for celebrating the end of a miserable second lockdown .
Earlier this week we spoke to The Connaught Bar ’ s director of mixology Agostino Perrone .
Today we caught up with head mixologist Giorgio Bargiani to get his insight into what makes a top barman – and his very own recipe for The Fleurissimo .
What @ @ @ @ @ @ @ world-class barkeep ?
“ Every bartender and bar professional has different skills , strengths and weaknesses but there are some key elements that bring us all together .
The passion for what we do is the key driver .
Every day , we step into the Connaught Bar and feel grateful for having such a strong and motivated team , both in the bar and in the hotel .
We all share the same values and that is essential .
We genuinely believe that we are not just serving cocktails , but we @ @ @ @ @ @ @ ’ day better .
Another crucial trait is curiosity and the will to learn about ingredients , techniques , people and cultures .
In a world where we ’ re hyper-connected and distance can be overcome with a click , it is paramount to be in the know in order to be ahead of the game .
Mixology is about chemistry but hospitality is about feelings .
Blending science with humanity is what our profession entails .
How does the Connaught influence your menu ?
Giorgio Bargiani : The Connaught Bar is our @ @ @ @ @ @ @ more than just a venue , it is an icon .
Ago has built a legacy for bartenders but also a remarkable and consistent identity for the bar that continues to be reflected in our service style , our attitude and our cocktails .
Storytelling is an essential element in our mixology process , with every cocktail carrying the signature of our venue , be this in an ingredient , the balance of flavours , the inspiration or the presentation .
What ’ s trendy now and what ’ s the next big @ @ @ @ @ @ @ of craft spirits , the renaissance of some traditional ingredients with outstanding heritage , the need to cater for ever-more discerning drinkers who seek quality over quantity and , more importantly , an experience over just a cocktail .
All of these have given mixology and the bar industry more visibility and relevance in both the hospitality and the cultural scene .
This combination of factors will continue to push the bar industry to focus on the guest experience not as secondary to the cocktail offering but as an inseparable element .
How @ @ @ @ @ @ @ a decadent coupe glass worthy of Marie Antoinette , then pour Rémy Martin VSOP over a bitter-soaked sugar cube of crème de violet liqueur and then top with champagne .
Float a rose petal on the surface to channel the flower-loving queen even more .

Toast the end of lockdown with a cocktail literally fit for a queen
Next week, you’ll be able to walk down to the Connaught Bar yourself and sample a drink from officially the best bar in the world. Until then, here’s how to throw one together yourself – perfect for celebrating the end of a miserable second lockdown.
Earlier this week we spoke to The Connaught Bar’s director of mixology Agostino Perrone. Today we caught up with head mixologist Giorgio Bargiani to get his insight into what makes a top barman – and his very own recipe for The Fleurissimo.
What skills do you need to be a world-class barkeep?
“Every bartender and bar professional has different skills, strengths and weaknesses but there are some key elements that bring us all together. The passion for what we do is the key driver.
Every day, we step into the Connaught Bar and feel grateful for having such a strong and motivated team, both in the bar and in the hotel. We all share the same values and that is essential. We genuinely believe that we are not just serving cocktails, but we’re there to make our guests’ day better.
Another crucial trait is curiosity and the will to learn about ingredients, techniques, people and cultures. In a world where we’re hyper-connected and distance can be overcome with a click, it is paramount to be in the know in order to be ahead of the game. Mixology is about chemistry but hospitality is about feelings. Blending science with humanity is what our profession entails.
How does the Connaught influence your menu?
Giorgio Bargiani: The Connaught Bar is our main source of inspiration. It is more than just a venue, it is an icon. Ago has built a legacy for bartenders but also a remarkable and consistent identity for the bar that continues to be reflected in our service style, our attitude and our cocktails.
Storytelling is an essential element in our mixology process, with every cocktail carrying the signature of our venue, be this in an ingredient, the balance of flavours, the inspiration or the presentation.
What’s trendy now and what’s the next big thing?
We have seen the boom of craft spirits, the renaissance of some traditional ingredients with outstanding heritage, the need to cater for ever-more discerning drinkers who seek quality over quantity and, more importantly, an experience over just a cocktail.
All of these have given mixology and the bar industry more visibility and relevance in both the hospitality and the cultural scene. This combination of factors will continue to push the bar industry to focus on the guest experience not as secondary to the cocktail offering but as an inseparable element.
Agostino Perrone & Drinks at the Connaught Bar
How to mix: The Fleurissimo
15ml Rémy Martin VSOP
1 barspoon Crème de violet liqueur
1 Sugar cube soaked with Peycheaud bitters
Champagne
INSTRUCTIONS
Find a decadent coupe glass worthy of Marie Antoinette, then pour Rémy Martin VSOP over a bitter-soaked sugar cube of crème de violet liqueur and then top with champagne. Float a rose petal on the surface to channel the flower-loving queen even more.


cityam--2020-11-26--Brexit: 'Urgent' EU meeting called on fisheries may signal breakthrough in talks

Brussels ’ chief negotiator Michel Barnier is preparing to summon fisheries ministers from EU nations , indicating that a major breakthrough in Brexit talks could be about to happen .
Irish broadcaster RTE is reporting that the “ urgent ” meeting will take place tomorrow .
Read more : Exclusive : Siemens UK chief says pandemic brought ‘ helpful ’ distraction from Brexit Future fisheries arrangements between the UK and EU has been one of the largest barriers to a post-Brexit trade deal .
Time is running short for a deal to be struck , with the UK set to @ @ @ @ @ @ @ and customs union on 31 December .
The fact Barnier has set up a meeting with other EU nations about fisheries this late in talks may indicate that the basis of an agreement has been struck with the UK .
It comes after Irish Prime Minister Micheal Martin said on Monday that he was “ hopeful ” the outline of a deal could be agreed by the end of this week .
Before the Open newsletter : Start your day with the City View podcast and key market data Barnier ’ s starting @ @ @ @ @ @ @ that Brussels wanted EU countries to retain the same rights to fish in British waters as they had prior to Brexit .
This was turned down by UK chief negotiator David Frost , who said on many occasions that the UK will be a “ independent coastal state ” from next year .
Frost has pushed for a “ zonal ” arrangement , which would see EU countries allowed only a certain amount of fish from UK waters every year .
The UK also wants this arrangement to be re-negotiated on a regular @ @ @ @ @ @ @ earlier this month : “ We ’ ll only be able to make progress if the EU accepts the reality that the UK will have the right to control access to its waters at the end of this year.
” Read more : Brexit : UK business groups ‘ crying out for certainty ’ as talks drag on UK-EU negotiations have continued on Zoom this week , after a member of the Brussels team tested positive for Covid last Thursday .
Downing Street today said it would like to resume talks in person @ @ @ @ @ @ @ the EU to decide .

Today: ‘Urgent’ EU meeting on fisheries may signal breakthrough in Brexit talks
Britain will no longer be subject to the Common Fisheries Policy after 31 December
Brussels’ chief negotiator Michel Barnier has summoned fisheries ministers from EU nations, indicating that a major breakthrough in Brexit talks could be about to happen.
The “urgent” meeting is reportedly taking place today.
Find all our Brexit coverage in one place – simply click here
Future fisheries arrangements between the UK and EU have been one of the largest barriers to a post-Brexit trade deal.
Time is running short for a deal to be struck, with the UK set to leave the EU’s single market and customs union on 31 December.
The fact Barnier has set up a meeting with other EU nations about fisheries this late in talks may indicate that the basis of an agreement has been struck with the UK.
It comes after Irish Prime Minister Micheal Martin said on Monday that he was “hopeful” the outline of a deal could be agreed by the end of this week.
Barnier’s starting position in talks with the UK was that Brussels wanted EU countries to retain the same rights to fish in British waters as they had prior to Brexit.
This was turned down by UK chief negotiator David Frost, who said on many occasions that the UK will be a “independent coastal state” from next year.
Frost has pushed for a “zonal” arrangement, which would see EU countries allowed only a certain amount of fish from UK waters every year.
The UK also wants this arrangement to be re-negotiated on a regular basis.
A Number 10 spokesperson said earlier this month: “We’ll only be able to make progress if the EU accepts the reality that the UK will have the right to control access to its waters at the end of this year.”
UK-EU negotiations have continued on Zoom this week, after a member of the Brussels team tested positive for Covid last Thursday.
Downing Street today said it would like to resume talks in person, but that this was up to the EU to decide.
Before the Open newsletter: Start your day with the City View podcast and key market data