cityam--2020-10-26--Marks & Spencer ramps up online capacity ahead of 'most digital Christmas yet'

Marks & Spencer is ramping up its online delivery capacity in the run up to what it said will be “ the most digital Christmas yet ” .
M & S , which said festive-related searches are up 80 per cent on last year , will add more than 500 Christmas temporary employees .
Read more : Marks & Spencer to axe 7,000 jobs within three months amid pandemic The new seasonal workers will be employed in addition to the extra 400 permanent members of staff M & S has hired since July .
This means that the firm ’ @ @ @ @ @ @ @ run by a team of around 4,000 this Christmas , compared to the 3,000 employed there last year .
M & S also said it has invested in new bagging machines and additional logistics space ahead of the festive season , which will be busier than usual due to the acceleration of online shopping .
The investment comes after supermarket online delivery slots were in high demand over the UK coronavirus lockdown , with new restrictions likely to encourage consumers to continue digital shopping .
Paul Burns , M & S clothing and @ @ @ @ @ @ @ We ’ re set up to ensure our colleagues can safely help our customers shop online with confidence this Christmas – from great new team members to investing in our tech.
” The retailer has also bumped up the number of click and collect stores it offers from 86 to 140 , with a further 100 on standby to respond to local demand .
M & S announced this morning that it will extend its new contactless click and collect service to a further 12 stores during November , following a successful trial @ @ @ @

Marks & Spencer ramps up online capacity ahead of ‘most digital Christmas yet’
Marks & Spencer is ramping up its online delivery capacity in the run up to what it said will be “the most digital Christmas yet”.
M&S, which said festive-related searches are up 80 per cent on last year, will add more than 500 Christmas temporary employees.
The new seasonal workers will be employed in addition to the extra 400 permanent members of staff M&S has hired since July.
This means that the firm’s distribution centre in Leicestershire will be run by a team of around 4,000 this Christmas, compared to the 3,000 employed there last year.
M&S also said it has invested in new bagging machines and additional logistics space ahead of the festive season, which will be busier than usual due to the acceleration of online shopping.
The investment comes after supermarket online delivery slots were in high demand over the UK coronavirus lockdown, with new restrictions likely to encourage consumers to continue digital shopping.
Paul Burns, M&S clothing and home head of logistics said, “We’re set up to ensure our colleagues can safely help our customers shop online with confidence this Christmas – from great new team members to investing in our tech.”
The retailer has also bumped up the number of click and collect stores it offers from 86 to 140, with a further 100 on standby to respond to local demand.
M&S announced this morning that it will extend its new contactless click and collect service to a further 12 stores during November, following a successful trial at four branches.


cityam--2020-10-26--Drop in drama comes at bad time for Premier League's pay-per-view push

Who remembers the good old days of a few weeks ago , when the Premier League was all goals and madcap scorelines ?
Leicester smashing five at Manchester City was soon eclipsed by Tottenham ’ s six-goal romp at Manchester United and then , giddily , Aston Villa putting seven past champions Liverpool .
Gameweek Two had set the tone , ushering in the new season with 44 goals across 10 games – a record for a round of Premier League fixtures in the 20-team era .
Read more : FC Nordsjaelland : How a Danish club ’ s global @ @ @ @ @ @ @ Covid crisis This was English top-flight football in caricature , and we lapped it up .
Suddenly , though , the goals and excitement seem to have dried up dramatically .
From an average of 3.79 goals per game in the first four rounds , Gameweek Five saw that figure drop to 2.80 .
So far in Gameweek Six it is just 2 .
The number of matches featuring three or more goals has also plunged .
For the first four rounds it was 68 per cent ; since then it has been @ @ @ @ @ @ @ drop in drama has come precisely as the Premier League has launched a new pay-per-view service is deeply unfortunate .
Clubs ’ support of a pay-per-view system — 19 of 20 clubs voted it through — is not entirely without merit .
Their income has been badly dented by the continued ban on fans attending matches during the pandemic , as Manchester United ’ s recent results illustrated .
Selling the rights to the 170 games that were not included in the various packages sold to Sky , BT and Amazon is a @ @ @ @ @ @ @ clubs , meanwhile , continue to face calls from government to bail out the lower leagues .
But the recent goal drought underlines the madness of setting a price point of £14.95 for each pay-per-view fixture .
Domestic Premier League viewers were already paying through the nose .
Subscribing to Sky Sports , BT Sport and Amazon Prime costs £858 a year .
Clubs have offered no discount on pay-per-view to season ticket holders or members of other fans schemes .
Many of these supporters are out of pocket , having already paid @ @ @ @ @ @ @ a time when households across the country are feeling the pinch .
Whatever clubs ’ own financial setbacks , pay-per-view was bound to be a tough sell given these extra games were given to broadcasters earlier in the pandemic .
This meant armchair fans got used to gorging on an all-you-can-eat buffet of football each Saturday and Sunday .
Now half of the dishes have been taken off the menu and the fare has started to look a little stale .
We don ’ t know how clubs arrived at the figure of @ @ @ @ @ @ @ announcement .
Nor do we know how many have been willing to pay for the service in its first two weeks .
Having been quick to trumpet record figures on Sunday 4 October , the day Spurs and Villa ran amok , Sky has been quiet on pay-per-view buys – as , too , has BT .
And we don ’ t know exactly why the action has slowed .
A degree of regressing to the mean ?
Certainly .
Perhaps , inspired by Marcus Rashford , his fellow Premier League stars have @ @ @ @ @ @ @ financially afflicted and sabotaged pay-per-view with dull games .
Maybe quality is suffering in this congested , compressed season because the footballers are being overplayed .
And maybe , by overcharging for extra games , Premier League clubs have overplayed their hand .

Drop in drama comes at bad time for Premier League’s pay-per-view push
Chelsea and Manchester United drew 0-0 in the Premier League on Saturday, the latest sign of a slowing rate of goals per game
Who remembers the good old days of a few weeks ago, when the Premier League was all goals and madcap scorelines?
Leicester smashing five at Manchester City was soon eclipsed by Tottenham’s six-goal romp at Manchester United and then, giddily, Aston Villa putting seven past champions Liverpool.
Gameweek Two had set the tone, ushering in the new season with 44 goals across 10 games – a record for a round of Premier League fixtures in the 20-team era.
This was English top-flight football in caricature, and we lapped it up.
Suddenly, though, the goals and excitement seem to have dried up dramatically.
From an average of 3.79 goals per game in the first four rounds, Gameweek Five saw that figure drop to 2.80. So far in Gameweek Six it is just 2.
The number of matches featuring three or more goals has also plunged. For the first four rounds it was 68 per cent; since then it has been just 39 per cent.
That this drop in drama has come precisely as the Premier League has launched a new pay-per-view service is deeply unfortunate.
Madness of pay-per-view price point
Clubs’ support of a pay-per-view system — 19 of 20 clubs voted it through — is not entirely without merit.
Their income has been badly dented by the continued ban on fans attending matches during the pandemic, as Manchester United’s recent results illustrated.
Selling the rights to the 170 games that were not included in the various packages sold to Sky, BT and Amazon is a legitimate means to recoup losses.
These clubs, meanwhile, continue to face calls from government to bail out the lower leagues.
But the recent goal drought underlines the madness of setting a price point of £14.95 for each pay-per-view fixture.
Domestic Premier League viewers were already paying through the nose. Subscribing to Sky Sports, BT Sport and Amazon Prime costs £858 a year.
Clubs have offered no discount on pay-per-view to season ticket holders or members of other fans schemes.
Many of these supporters are out of pocket, having already paid their annual fees. And all at a time when households across the country are feeling the pinch.
Have clubs overplayed their hand?
Whatever clubs’ own financial setbacks, pay-per-view was bound to be a tough sell given these extra games were given to broadcasters earlier in the pandemic.
This meant armchair fans got used to gorging on an all-you-can-eat buffet of football each Saturday and Sunday.
Now half of the dishes have been taken off the menu and the fare has started to look a little stale.
We don’t know how clubs arrived at the figure of £14.95, which was widely decried on announcement.
Nor do we know how many have been willing to pay for the service in its first two weeks.
Having been quick to trumpet record figures on Sunday 4 October, the day Spurs and Villa ran amok, Sky has been quiet on pay-per-view buys – as, too, has BT.
Early-season excitement in the Premier League peaked when Aston Villa beat Liverpool 7-2 earlier this month
And we don’t know exactly why the action has slowed. A degree of regressing to the mean? Certainly.
Perhaps, inspired by Marcus Rashford, his fellow Premier League stars have devised a new way to help the financially afflicted and sabotaged pay-per-view with dull games.
Maybe quality is suffering in this congested, compressed season because the footballers are being overplayed.
And maybe, by overcharging for extra games, Premier League clubs have overplayed their hand.


cityam--2020-10-26--Exclusive: tram risk audit at time of Croydon crash was never revealed to TfL safety panel

The Croydon tram network was undergoing a safety audit at the time of the fatal Sandilands crash in 2016 – a fact not revealed to the chair of TfL ’ s safety panel at the time .
The former board member , tasked with overseeing investigations into the disaster , described the failure to inform him as “ beyond shocking.
” Over the weekend it emerged that TfL had opened an investigation into operational risk at Trams Operations Limited ( TOL ) – a subsidiary of First Group – three weeks before the accident .
The incident killed seven passengers @ @ @ @ @ @ @ the decade .
Read more : TfL bailout talks continue with Mayor pushing back at Whitehall demands A draft copy of the audit , obtained by City A.M. , shows that fieldwork for the probe was completed on 15 November , six days after the crash occurred .
The initial findings were due to be released on 22 November , but never emerged .
At the time of the crash , Michael Liebreich was the chair of TfL ’ s Safety , Sustainability and HR Panel , and led the board ’ s @ @ @ @ @ @ @ .
He told City A.M. : “ At no point was the fact that TfL were safety-auditing First Group ’ s tram operation at the time of the crash brought to our attention .
The Audit and Assurance Committee of the board were never told about the part-completed audit .
“ I find it beyond shocking to discover , nearly four years later , that TfL was undertaking a safety audit of the Croydon Tram at the exact time of the Sandilands crash.
” The draft audit first came to light when it @ @ @ @ @ @ @ campaigner for transport safety , in documents released in response to a Mayoral question by Liberal Democrat Assembly Member Caroline Pidgeon .
Private Eye first reported the existence of the draft audit , which concluded that safety issues are “ adequately controlled ” , the second highest ranking .
The draft report makes no mention of the Sandilands crash , even though it took place while the investigation was ongoing .
Later emails between TfL staff , seen by City A.M. , confirmed that the audit had been “ cancelled ” in light @ @ @ @ @ @ @ the first time since 1959 that people had died in a tram accident in the UK .
62 people were also injured , 19 of whom seriously .
An inquest into the deaths was due to begin last week but has been postponed due to the change in coronavirus precautions .
A report from the Rail Accident Investigation Branch ( RAIB ) , released in December 2017 , found that driver error was the cause of the accident .
It found that the most likely scenario was that the driver had a “ @ @ @ @ @ @ @ A prior audit into TOL , conducted in 2014 , found that arrangements for the management of operator fitness for duty , fatigue , drug and alcohol testing and monitoring , were “ well controlled ” .
The scope of the suppressed audit showed that investigators were looking into the issue of fatigue management for safety critical workers , in line with the Railways and Other Guided Transport Systems ( Safety ) Regulations 2006 ( ROGS ) .
A subsequent audit into fatigue management across TOL ’ s operations was carried out in @ @ @ @ @ @ @ a number of suggestions for improvement .
Liebreich added : “ This is just the latest in a series of failures by First Group and TfL to release information about fatigue on the Croydon Tram before and after the crash : documents not being provided to the police , documents being released with pages missing , documents RAIB doesn ’ t seem to have obtained , and so on .
It is very troubling indeed.
” A TfL spokesperson said : “ We were carrying out an audit of ‘ Trams Management of @ @ @ @ @ @ @ not concluded because it was superseded by the urgent investigation into the Sandilands tragedy .
The RAIB was informed of the uncompleted audit.
” Read more : London Tories call for reopening of Waterloo and City line

Exclusive: Tram risk audit at time of Croydon crash was never revealed to TfL safety panel
(Photo by Carl Court/Getty Images)
The Croydon tram network was undergoing a safety audit at the time of the fatal Sandilands crash in 2016 – a fact not revealed to the chair of TfL’s safety panel at the time.
The former board member, tasked with overseeing investigations into the disaster, described the failure to inform him as “beyond shocking.”
Over the weekend it emerged that TfL had opened an investigation into operational risk at Trams Operations Limited (TOL) – a subsidiary of First Group – three weeks before the accident.
The incident killed seven passengers, the most deadly rail crash of the decade.
Read more: TfL bailout talks continue with Mayor pushing back at Whitehall demands
A draft copy of the audit, obtained by City A.M., shows that fieldwork for the probe was completed on 15 November, six days after the crash occurred.
The initial findings were due to be released on 22 November, but never emerged.
At the time of the crash, Michael Liebreich was the chair of TfL’s Safety, Sustainability and HR Panel, and led the board’s oversight of the crash until July 2018.
He told City A.M.: “At no point was the fact that TfL were safety-auditing First Group’s tram operation at the time of the crash brought to our attention. The Audit and Assurance Committee of the board were never told about the part-completed audit.
“I find it beyond shocking to discover, nearly four years later, that TfL was undertaking a safety audit of the Croydon Tram at the exact time of the Sandilands crash.”
The draft audit first came to light when it was spotted by Tom Kearney, a campaigner for transport safety, in documents released in response to a Mayoral question by Liberal Democrat Assembly Member Caroline Pidgeon.
Private Eye first reported the existence of the draft audit, which concluded that safety issues are “adequately controlled”, the second highest ranking.
The draft report makes no mention of the Sandilands crash, even though it took place while the investigation was ongoing.
Pidgeon told City A.M.: “It has taken consistent questioning and the use of freedom of information requests over the last four years by Assembly Members, campaigners and investigative journalists to simply ensure that we know what we do today.
“However questions still remain unanswered and I look forward to the Croydon tram inquest resuming as soon as possible to finally ensure that on such a vital issue as ensuring future passenger safety that no stone is left unturned.”
Audit ‘cancelled’ after incident
Later emails between TfL staff, seen by City A.M., confirmed that the audit had been “cancelled” in light of the incident.
The incident was the first time since 1959 that people had died in a tram accident in the UK. 62 people were also injured, 19 of whom seriously.
An inquest into the deaths was due to begin last week but has been postponed due to the change in coronavirus precautions.
A report from the Rail Accident Investigation Branch (RAIB), released in December 2017, found that driver error was the cause of the accident.
It found that the most likely scenario was that the driver had a “microsleep” episode approaching the bend.
A prior audit into TOL, conducted in 2014, found that arrangements for the management of operator fitness for duty, fatigue, drug and alcohol testing and monitoring, were “well controlled”.
The scope of the suppressed audit showed that investigators were looking into the issue of fatigue management for safety critical workers, in line with the Railways and Other Guided Transport Systems (Safety) Regulations 2006 (ROGS).
A subsequent audit into fatigue management across TOL’s operations was carried out in the aftermath of the crash and made a number of suggestions for improvement.
Liebreich added: “This is just the latest in a series of failures by First Group and TfL to release information about fatigue on the Croydon Tram before and after the crash: documents not being provided to the police, documents being released with pages missing, documents RAIB doesn’t seem to have obtained, and so on. It is very troubling indeed.”
A TfL spokesperson said: “We were carrying out an audit of ‘Trams Management of Operational Risk’ but this work was not concluded because it was superseded by the urgent investigation into the Sandilands tragedy. The RAIB was informed of the uncompleted audit.”
Read more: London Tories call for reopening of Waterloo and City line


cityam--2020-10-26--Oil prices fall on fears of production boost amid surge in Covid-19 cases

Global oil prices dropped sharply this morning amid fears of a ramp in production even as governments implement more stringent restrictions to cope with a surge in coronavirus cases .
Worldwide standard Brent crude shed 2.4 per cent to fall to $ 40.76 , while American benchmark West Texas Intermediate dropped 2.6 per cent to stand at $ 38.78 .
Read more : Has demand for oil already peaked ?
Over the weekend , a ceasefire between warring factions in Libya meant that the North Africa country ’ s oil board said that output would increase to 1m barrels a @ @ @ @ @ @ @ the ceasefire , Libya had been producing 500,000 barrels a day , but any increase could challenge production cartel Opec ’ s attempts to control output to keep prices stable .
At the same time , rising numbers of new coronavirus infections have seen some governments implement new restrictions on mobility , such as Italy and Spain .
Before the Open newsletter : Start your day with the City View podcast and key market data In the US , a new record number of cases were reported , while in France 50,000 new @ @ @ @ @ @ @ s head of oil markets Bjornar Tonhaugen said : “ It ’ s a dark Monday in the oil market .
Traders are finally pricing in Covid-19 ’ s second wave , as the pandemic ’ s infections break daily records in many countries across the globe .
“ Waiting for a potential vaccine sometime next year won ’ t save oil demand in the near term , and the market is increasingly scared.
” Stephen Innes , chief global market strategist at Axi , said that the combination of rising production and @ @ @ @ @ @ @ price stability .
“ At this stage of the oil demand recovery cycle , waning global demand due to Covid-19 ’ s 2nd and 3rd wave mobility restrictions and more barrel coming to market due to Libya lifting the force majeure is unequivocally the most toxic elixir for oil markets to kick off a new week ” , he said .
The increase in output will pour pressure onto Opec and allies such as Russia , who have agreed to lift production by 2m barrels a day in January .
Read more : @ @ @ @ @ @ @ health updates “ Opec+ ( as the wider grouping is known ) must not be careless and have to address the issue of the extra barrels appearing in the market , otherwise the days of relatively stable oil prices will be numbered , ” said oil broker PVM ’ s Tamas Varga .
Last week Russian President Vladimir Putin indicated that he might agree to extending production restrictions in order to protect the market .

Oil prices fall on fears of production boost amid surge in Covid-19 cases
Oil prices sunk this morning as a ceasefire between warring factions in Libya meant that production is now forecast to rise in the north African country.
Global oil prices dropped sharply this morning amid fears of a ramp in production even as governments implement more stringent restrictions to cope with a surge in coronavirus cases.
Worldwide standard Brent crude shed 2.4 per cent to fall to $40.76, while American benchmark West Texas Intermediate dropped 2.6 per cent to stand at $38.78.
Over the weekend, a ceasefire between warring factions in Libya meant that the North Africa country’s oil board said that output would increase to 1m barrels a day within a month.
Prior to the ceasefire, Libya had been producing 500,000 barrels a day, but any increase could challenge production cartel Opec’s attempts to control output to keep prices stable.
At the same time, rising numbers of new coronavirus infections have seen some governments implement new restrictions on mobility, such as Italy and Spain.
Before the Open newsletter: Start your day with the City View podcast and key market data
In the US, a new record number of cases were reported, while in France 50,000 new cases were recorded.
Rystad Energy’s head of oil markets Bjornar Tonhaugen said: “It’s a dark Monday in the oil market. Traders are finally pricing in Covid-19’s second wave, as the pandemic’s infections break daily records in many countries across the globe.
“Waiting for a potential vaccine sometime next year won’t save oil demand in the near term, and the market is increasingly scared.”
Stephen Innes, chief global market strategist at Axi, said that the combination of rising production and more cases posed a serious threat to price stability.
“At this stage of the oil demand recovery cycle, waning global demand due to Covid-19’s 2nd and 3rd wave mobility restrictions and more barrel coming to market due to Libya lifting the force majeure is unequivocally the most toxic elixir for oil markets to kick off a new week”, he said.
The increase in output will pour pressure onto Opec and allies such as Russia, who have agreed to lift production by 2m barrels a day in January.
“Opec+ (as the wider grouping is known) must not be careless and have to address the issue of the extra barrels appearing in the market, otherwise the days of relatively stable oil prices will be numbered,” said oil broker PVM’s Tamas Varga.
Last week Russian President Vladimir Putin indicated that he might agree to extending production restrictions in order to protect the market.


cityam--2020-10-26--It’s OUR Fault Enterprise Leaders Don’t Understand Blockchain

Business and enterprise leaders struggle with adopting blockchain for a wide variety of reasons .
Not the least of which is that the industry gets itself into trouble by refusing to use a consistent set of terms .
We are “ Scuppered by Language ” .
Even when books and articles are written in an easy and accessible way , they are often focused on the underlying technology – or how to access cheap capital by launching a token .
Too many articles are focused on either starting , continuing or accelerating ‘ The Hype.
’ None of this is @ @ @ @ @ @ @ .
What they need is multiple use cases showing precisely how blockchain can be used as part of larger initiatives to create real value .
News stories that have snappy catchy headlines are used to lure people into clicking , but sadly they have virtually no useful content .
Most of the stories are “ nothing burgers ” : They have zero substance of value to readers .
The ‘ meat ’ of these posts neither nourish nor deliver answers to these questions : • How does having a shared source of information @ @ @ @ @ @ @ resides on the blockchain ?
• How many stakeholders or counterparties are involved in the network ?
Obviously , I ’ m not saying that this is true about every blockchain article in circulation .
Not every blockchain journalist or corporate comms person ducks and dives around the hard questions .
Some of these hard-working individuals represent projects that are genuine and not trying to obfuscate and obscure the facts from the reader .
Another significant challenge is that there has been so much hype running over the past three years that people @ @ @ @ @ @ @ another blockchain story .
They feel like they don ’ t need to read any more about the topic , that there isn ’ t anything new as far as they are concerned .
Others believe that the topic and subject matter is too technical , so why bother ?
Enterprise leaders must now wait until the hype subsides , and we cross the trough of despair in the current curve before reengaging with relevant audiences .
This leads me to envisage a brighter future ahead .
A future where blockchain networks will @ @ @ @ @ @ @ ’ as electrical grids and motorway networks and satellite Internet routers , i.e .
They fade into the background .
Unless called for in a particular industry or engineering periodical , we never write about the infrastructure that makes initiatives possible .
The articles and stories about blockchain technology will be the same as fantastic products and services which are built on top of the electric grid , motorway network and satellite Internet routers – the ‘ hype ’ is the service or product , not the enabler of said product or service @ @ @ @ @ @ @ like Bitcoin or Ethereum or EOS ) .
Blockchain can refer to the network of computers that manage and maintain the data .
Or , Blockchain can be the data stored in the shared ledger .
Blockchain networks can be interconnected with services like PolkaDot and Cosmos .
Like everything from the fax machine to Tinder , the more people using the infrastructure , the better the network becomes .
The more people are adding content and accessing content from the network , the greater the value .
But unlike tinder and today @ @ @ @ @ @ @ networks have no primary beneficiary .
There is no CEO for these networks .
There are no opaque business practices which require intense scrutiny and government regulation .
The best networks have no corporate owner because critical ( valuable ) blockchain networks are managed by members working collaboratively under the structure of either a consortium , industry association or multi-member partnership .
With no CEO and no shareholders to contend with , the network can focus on the core business of creating a trusted source of data which can be securely shared—and creating @ @ @ @ @ @ @ data to be securely added to the network .
With the right leadership , the consortium will devise the Minimum Effective Blockchain to meet the privacy , security and transparency requirements of all participants .
Once a blockchain network is in place and adding value to the participants of the network , news and information will be generated naturally by the market talking about the value of the project – and it may or may not reference blockchain .
Articles will be written , and case studies created , that will make it @ @ @ @ @ @ @ to an enterprise or business .
Collaboration and sharing of data between enterprises will become the focus .
Ultimately , blockchain is infrastructure .
It is tedious and technical .
For the most part , there is no money in it because non-profit consortia run it .
Sure , some of the blockchain providers will make a bit of licensing cash and charge enterprise customers for what is nearly always a FREE and Open Source product .
One of the most exciting projects I have come across is Alastria .
Alastria is a @ @ @ @ @ @ @ association .
The Alastria network is a Spanish national asset that is already making connections to other enterprises and institutions across the EU and beyond .
Alastria perfectly illustrates the idea that blockchain is infrastructure – and the value in the network comes from the participants and the data they each contribute to the network .
I found a wide range of exciting blockchain projects in Madrid and am looking forward to returning there once we better understand the new ‘ post-COVID normal.
’ Business and enterprise leaders need all of us in @ @ @ @ @ @ @ better communicating the actual value of collaboration and cooperation through blockchain .
We need to demystify the technology and slowly back away from the ( well deserved ) carnival conman reputation of cryptocurrencies .
We need to focus on how these projects are delivering results which were unattainable before having blockchain technology to provide the right infrastructure for the secure , private and transparent sharing of information .
Crypto A.M. ’ s opinion pieces are a place for thought-provoking views and debate .
These views are not necessarily shared by CryptoAM.io or City @ @ @ @ @ @ @ @ blockchainrookies.com / Twitter @ igetblockchain .

Crypto AM: Inside Blockchain with Troy Norcross

It’s OUR Fault Enterprise Leaders Don’t Understand Blockchain
iStock Photos
Business and enterprise leaders struggle with adopting blockchain for a wide variety of reasons. Not the least of which is that the industry gets itself into trouble by refusing to use a consistent set of terms. We are “Scuppered by Language”.
Even when books and articles are written in an easy and accessible way, they are often focused on the underlying technology – or how to access cheap capital by launching a token. Too many articles are focused on either starting, continuing or accelerating ‘The Hype.’
None of this is what today’s business leaders need. What they need is multiple use cases showing precisely how blockchain can be used as part of larger initiatives to create real value.
News stories that have snappy catchy headlines are used to lure people into clicking, but sadly they have virtually no useful content. Most of the stories are “nothing burgers”: They have zero substance of value to readers. The ‘meat’ of these posts neither nourish nor deliver answers to these questions:
How does having a shared source of information drive value?
Precisely what information resides on the blockchain?
How many stakeholders or counterparties are involved in the network?
Business and enterprise leaders struggle with adopting blockchain.
Obviously, I’m not saying that this is true about every blockchain article in circulation. Not every blockchain journalist or corporate comms person ducks and dives around the hard questions. Some of these hard-working individuals represent projects that are genuine and not trying to obfuscate and obscure the facts from the reader.
Another significant challenge is that there has been so much hype running over the past three years that people are “numb” to reading yet another blockchain story. They feel like they don’t need to read any more about the topic, that there isn’t anything new as far as they are concerned. Others believe that the topic and subject matter is too technical, so why bother?
Enterprise leaders must now wait until the hype subsides, and we cross the trough of despair in the current curve before reengaging with relevant audiences. This leads me to envisage a brighter future ahead. A future where blockchain networks will assume the same ‘level of importance’ as electrical grids and motorway networks and satellite Internet routers, i.e. They fade into the background.
Unless called for in a particular industry or engineering periodical, we never write about the infrastructure that makes initiatives possible. The articles and stories about blockchain technology will be the same as fantastic products and services which are built on top of the electric grid, motorway network and satellite Internet routers – the ‘hype’ is the service or product, not the enabler of said product or service.
Blockchain can describe the protocol (like Bitcoin or Ethereum or EOS). Blockchain can refer to the network of computers that manage and maintain the data. Or, Blockchain can be the data stored in the shared ledger. Blockchain networks can be interconnected with services like PolkaDot and Cosmos.
Blockchain adds the most value when it is a shared, non-profit infrastructure.
Like everything from the fax machine to Tinder, the more people using the infrastructure, the better the network becomes. The more people are adding content and accessing content from the network, the greater the value.
But unlike tinder and today’s social media platforms, blockchain networks have no primary beneficiary. There is no CEO for these networks. There are no opaque business practices which require intense scrutiny and government regulation.
The best networks have no corporate owner because critical (valuable) blockchain networks are managed by members working collaboratively under the structure of either a consortium, industry association or multi-member partnership. With no CEO and no shareholders to contend with, the network can focus on the core business of creating a trusted source of data which can be securely shared—and creating the necessary infrastructure to allow for new data to be securely added to the network. With the right leadership, the consortium will devise the Minimum Effective Blockchain to meet the privacy, security and transparency requirements of all participants.
Once a blockchain network is in place and adding value to the participants of the network, news and information will be generated naturally by the market talking about the value of the project – and it may or may not reference blockchain. Articles will be written, and case studies created, that will make it clear exactly how a project adds value to an enterprise or business. Collaboration and sharing of data between enterprises will become the focus.
Ultimately, blockchain is infrastructure. It is tedious and technical. For the most part, there is no money in it because non-profit consortia run it. Sure, some of the blockchain providers will make a bit of licensing cash and charge enterprise customers for what is nearly always a FREE and Open Source product.
One of the most exciting projects I have come across is Alastria. Alastria is a regulated blockchain ecosystem run by a non-profit association. The Alastria network is a Spanish national asset that is already making connections to other enterprises and institutions across the EU and beyond. Alastria perfectly illustrates the idea that blockchain is infrastructure – and the value in the network comes from the participants and the data they each contribute to the network. I found a wide range of exciting blockchain projects in Madrid and am looking forward to returning there once we better understand the new ‘post-COVID normal.’
Business and enterprise leaders need all of us in the blockchain industry to work harder at better communicating the actual value of collaboration and cooperation through blockchain. We need to demystify the technology and slowly back away from the (well deserved) carnival conman reputation of cryptocurrencies. We need to focus on how these projects are delivering results which were unattainable before having blockchain technology to provide the right infrastructure for the secure, private and transparent sharing of information.
Crypto A.M.’s opinion pieces are a place for thought-provoking views and debate. These views are not necessarily shared by CryptoAM.io or City A.M.
Get in touch with us info@blockchainrookies.com / Twitter @igetblockchain.
Troy Norcross, Co-Founder Blockchain Rookies
Twitter: @troy_norcross


cityam--2020-10-26--Corona Impact Series: A vegan stop off Oxford Street

In this series , City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London .
Today : how evaporated demand and high rent obligations ultimately proved fatal for Ethos .
Ethos opened six years ago , catering for vegans by offering ‘ deliciously different ’ meat-free and plant-based dishes to eat in or take away .
Based just off Oxford Street and open all day , Ethos was feeding on average around 400 to 500 people a day before the pandemic .
“ Until lockdown we were @ @ @ @ @ @ @ Sundip Bhundia , director of Ethos Foods .
Like others in the sector , Ethos remained closed until they were ready and allowed to re-open safely .
As they offered a pay-by-weight buffet service , this meant pivoting their offer on top of the necessary Covid-19 measures .
“ But when we reopened last month , we were down to 30 customers a day .
With our high rents , lower central London footfalls and the current restrictions on trading , it was soon clear the business was no longer viable.
” As @ @ @ @ @ @ @ the site , Bundia said the business simply could not keep up with its rental obligations for the property on 48 Eastcastle Street in Fitzrovia , a few minutes walk from Oxford Street .
Ethos has now closed their site .
The closure has resulted in 22 staff redundancies and several independent suppliers losing their livelihoods .
“ We were never late with our rent [ before the pandemic ] , but we did not get much help from our landlord ” , he said .
“ The best they offered was moving @ @ @ @ @ @ @ which doesn ’ t help when you have not got money coming in.
” Three years ago , the rent doubled following a market-based rent review , increasing to over 15 % of turnover , excluding rates and service charges .
“ We negotiated but in hindsight we should have been firmer , ” Bhundia acknowledges .
He does think many landlords are currently too hands off and do not care enough about sustainability or the long term.
“ Hopefully there will be the necessary correction in the market going forward.
” Looking @ @ @ @ @ @ @ be back “ when the market conditions are right and in a new exciting location .
”

Corona Impact Series: A vegan stop off Oxford Street
Ethos in January of this year
In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. Today: how evaporated demand and high rent obligations ultimately proved fatal for Ethos.
Meat-free and plant-based
Ethos opened six years ago, catering for vegans by offering ‘deliciously different’ meat-free and plant-based dishes to eat in or take away.
Based just off Oxford Street and open all day, Ethos was feeding on average around 400 to 500 people a day before the pandemic.
“Until lockdown we were doing a reasonable trade,” tells Sundip Bhundia, director of Ethos Foods.
Like others in the sector, Ethos remained closed until they were ready and allowed to re-open safely. As they offered a pay-by-weight buffet service, this meant pivoting their offer on top of the necessary Covid-19 measures.
“But when we reopened last month, we were down to 30 customers a day. With our high rents, lower central London footfalls and the current restrictions on trading, it was soon clear the business was no longer viable.”
Rents in Fitzrovia
As demand did not sufficiently recover after re-opening the site, Bundia said the business simply could not keep up with its rental obligations for the property on 48 Eastcastle Street in Fitzrovia, a few minutes walk from Oxford Street.
Ethos has now closed their site. The closure has resulted in 22 staff redundancies and several independent suppliers losing their livelihoods.
“We were never late with our rent [before the pandemic], but we did not get much help from our landlord”, he said. “The best they offered was moving us from quarterly to monthly payments, which doesn’t help when you have not got money coming in.”
Three years ago, the rent doubled following a market-based rent review, increasing to over 15% of turnover, excluding rates and service charges.
“We negotiated but in hindsight we should have been firmer,” Bhundia acknowledges.
He does think many landlords are currently too hands off and do not care enough about sustainability or the long term.“Hopefully there will be the necessary correction in the market going forward.”
Looking ahead, Bhundia is confident Ethos will be back “when the market conditions are right and in a new exciting location.”


cityam--2020-10-26--UK consumer confidence drops following new coronavirus restrictions

The British public became less optimistic about the economy in October as new restrictions were put in place , with consumer confidence falling for the first time in six months .
Pessimism about household finances and home values dragged down the overall confidence index produced by polling firm Yougov and economics consultancy the Centre for Economics and Business Research ( Cebr ) .
The UK government brought in a new tiered system of restrictions earlier this month .
Manchester , Lancashire , Liverpool and South Yorkshire are currently under the strictest “ Tier 3 ” lockdown rules which have seen @ @ @ @ @ @ @ in Tier 2 , meaning different households are banned from mixing indoors .
Analysts have warned that the new restrictions , put in place in response to soaring Covid cases , will knock the UK ’ s economic recovery off course .
The new restrictions have also worried consumers , Yougov and Cebr ’ s poll showed .
Their headline consumer confidence gauge fell to 101.3 in October , only just in positive territory .
It was down 1.1 points from September and was the first recorded drop since April .
Nonetheless , @ @ @ @ @ @ @ are confident than not .
The gauge for people ’ s future household finances fell sharply to from 91.6 in September to 86 in October .
Respondents also became more gloomy about the direction of home values .
However , expectations for business activity and job security rose .
Additional research showed that only one in six people expect the economy to grow in the next year .
More than 80 per cent said it will contract , Yougov said .
Read more : UK investors most downbeat in world on own economy @ @ @ @ @ @ @ about their own finances as we see further restrictions imposed across the country , ” said Darren Yaxley , Director of Reputation Research at YouGov , said : “ As we enter the winter months , the picture will become clearer as to whether this was just a blip or the start of something more serious .
”

UK consumer confidence drops following new coronavirus restrictions
New coronavirus restrictions include a 10pm curfew for pubs, bars and restaurants
The British public became less optimistic about the economy in October as new restrictions were put in place, with consumer confidence falling for the first time in six months.
Pessimism about household finances and home values dragged down the overall confidence index produced by polling firm Yougov and economics consultancy the Centre for Economics and Business Research (Cebr).
The UK government brought in a new tiered system of restrictions earlier this month. Manchester, Lancashire, Liverpool and South Yorkshire are currently under the strictest “Tier 3” lockdown rules which have seen pubs and bars shut.
London is in Tier 2, meaning different households are banned from mixing indoors. Analysts have warned that the new restrictions, put in place in response to soaring Covid cases, will knock the UK’s economic recovery off course.
Financial worries weigh on consumer confidence
The new restrictions have also worried consumers, Yougov and Cebr’s poll showed. Their headline consumer confidence gauge fell to 101.3 in October, only just in positive territory.
It was down 1.1 points from September and was the first recorded drop since April. Nonetheless, any score above 100 means more consumers are confident than not.
The gauge for people’s future household finances fell sharply to from 91.6 in September to 86 in October. Respondents also became more gloomy about the direction of home values.
However, expectations for business activity and job security rose.
Additional research showed that only one in six people expect the economy to grow in the next year. More than 80 per cent said it will contract, Yougov said.
“Britons are becoming increasingly less certain about their own finances as we see further restrictions imposed across the country,” said Darren Yaxley, Director of Reputation Research at YouGov, said:
“As we enter the winter months, the picture will become clearer as to whether this was just a blip or the start of something more serious.”


cityam--2020-10-26--Customer generation platform MVF buys Appwiki amid online sales surge

Digital customer generation platform MVF has bought Dutch software comparison site Appwiki amid a surge in the number of firms attempting to boost their online capabilities due to the coronavirus crisis .
The acquisition , which will allow MVF to use Appwiki ’ s comparison technology , comes as demand for digital consumer generation has soared due to the acceleration of online shopping during the Covid-19 pandemic .
UK-based MVF , which has partnered with firms such as Salesforce , Samsara and Verizon , has added 121 new clients since the outbreak of coronavirus in March .
The deal is @ @ @ @ @ @ @ five years , following the purchase of Tech.co and Startups.co.uk .
MVF chief executive Michael Teixera said : “ We ’ re really excited about what Appwiki will bring to MVF .
“ The brand has had huge success in the Netherlands which opens up a new market for MVF , and they are a great team who have built some really powerful comparison engine technology and data analytics capabilities that we can utilise globally across our publishing sites and with our partners .
“ One really exciting aspect of the acquisition is @ @ @ @ @ @ @ tools that give customers the opportunity to get tailored software recommendations in real time .
“ Adding this unique functionality to our publishing tech stack will allow us to expand our growing software revenues as well as offering greater transparency to our users and really well matched and engaged customers to our clients .
”

Customer generation platform MVF buys Appwiki amid online sales surge
MVF founders and leadership team. Credit: MVF
Digital customer generation platform MVF has bought Dutch software comparison site Appwiki amid a surge in the number of firms attempting to boost their online capabilities due to the coronavirus crisis.
The acquisition, which will allow MVF to use Appwiki’s comparison technology, comes as demand for digital consumer generation has soared due to the acceleration of online shopping during the Covid-19 pandemic.
UK-based MVF, which has partnered with firms such as Salesforce, Samsara and Verizon, has added 121 new clients since the outbreak of coronavirus in March.
The deal is the 6th acquisition MVT has made in five years, following the purchase of Tech.co and Startups.co.uk.
MVF chief executive Michael Teixera said: “We’re really excited about what Appwiki will bring to MVF.
“The brand has had huge success in the Netherlands which opens up a new market for MVF, and they are a great team who have built some really powerful comparison engine technology and data analytics capabilities that we can utilise globally across our publishing sites and with our partners.
“One really exciting aspect of the acquisition is AppWiki’s cutting edge proprietary comparison tools that give customers the opportunity to get tailored software recommendations in real time.
“Adding this unique functionality to our publishing tech stack will allow us to expand our growing software revenues as well as offering greater transparency to our users and really well matched and engaged customers to our clients.”


cityam--2020-10-26--Aircraft orders flatline in September after worst ever quarter

No commercial aircraft were ordered last month as the global aviation industry recorded its worst ever quarter on record due to the coronavirus pandemic .
From July to September , there were just 13 orders placed for planes , a decline of 91.4 per cent on the same quarter last year .
Read more : British Airways owner IAG nosedives into €1.3bn pandemic loss and cuts flights over winter There were four orders in July , and nine in August , before September ’ s dearth , the figures from trade association ADS showed .
In addition , there were @ @ @ @ @ @ @ , making it again the worst three-month delivery period on record .
Commercial aviation has been devastated by the coronavirus crisis , with the collapse of international air travel sending the world ’ s airlines into a desperate spiral of cost-cutting .
Many carriers have taken the decision either to cancel orders or suspend deliveries of new aircraft for the duration of the pandemic in a bid to slow cash burn .
The continued travel quarantine regime in the UK has curtailed the industry ’ s nascent summer comeback , with the traditionally @ @ @ @ @ @ @ the Open newsletter : Start your day with the City View podcast and key market data ADS chief executive Paul Everitt added his voice to calls for a full airport testing system to be put in place in the UK , as has happened in Germany and Italy .
“ The quarantine period that passengers face when they return home is one of the main barriers to UK aviation ’ s recovery and testing can play a major role in reducing this ” , he said .
“ The Government should rapidly implement @ @ @ @ @ @ @ quarantine period can be shortened .
This will help improve confidence amongst travellers and in turn put the aviation and aerospace sectors on a path towards recovery.
” Thousands of aviation jobs in the UK have also been lost due to the crisis , with airlines cutting down on staff in preparation for a future of smaller entities .
Many cuts will come from manufacturing giants such as Airbus and Rolls-Royce , which have had to lay off thousands of workers amid the downtunrn in demand .
By June , union Unite estimated @ @ @ @ @ @ @ in a sector that supports around 110,000 .
More widely , the industry supports around 1.2m jobs directly and indirectly across the country .

Aircraft orders flatline in September after worst ever quarter
Aircraft orders dried up completely in September as the coronavirus pandemic continued to hammer travel demand.
No commercial aircraft were ordered last month as the global aviation industry recorded its worst ever quarter on record due to the coronavirus pandemic.
From July to September, there were just 13 orders placed for planes, a decline of 91.4 per cent on the same quarter last year.
There were four orders in July, and nine in August, before September’s dearth, the figures from trade association ADS showed.
In addition, there were just 173 aircraft delivered in the quarter, making it again the worst three-month delivery period on record.
Commercial aviation has been devastated by the coronavirus crisis, with the collapse of international air travel sending the world’s airlines into a desperate spiral of cost-cutting.
Many carriers have taken the decision either to cancel orders or suspend deliveries of new aircraft for the duration of the pandemic in a bid to slow cash burn.
The continued travel quarantine regime in the UK has curtailed the industry’s nascent summer comeback, with the traditionally loss-making winter months to come.
Before the Open newsletter: Start your day with the City View podcast and key market data
ADS chief executive Paul Everitt added his voice to calls for a full airport testing system to be put in place in the UK, as has happened in Germany and Italy.
“The quarantine period that passengers face when they return home is one of the main barriers to UK aviation’s recovery and testing can play a major role in reducing this”, he said.
“The Government should rapidly implement a testing regime so that the 14-day quarantine period can be shortened. This will help improve confidence amongst travellers and in turn put the aviation and aerospace sectors on a path towards recovery.”
Thousands of aviation jobs in the UK have also been lost due to the crisis, with airlines cutting down on staff in preparation for a future of smaller entities.
Many cuts will come from manufacturing giants such as Airbus and Rolls-Royce, which have had to lay off thousands of workers amid the downtunrn in demand.
By June, union Unite estimated that 12,000 jobs had already been lost in a sector that supports around 110,000.
More widely, the industry supports around 1.2m jobs directly and indirectly across the country.


cityam--2020-10-27--London loses crown as global green finance leader

London has lost its world crown for green finance quality , slipping behind Amsterdam and Zurich after more than two years at the helm , according to the latest Z/Yen index .
In its 2020 Global Green Finance Index ( GGFI ) released to City A.M. , the City of London think tank ranked 74 financial centres across the world for their public , private and nonprofit investment in sustainable development projects .
Read more : What is the EU Green Deal and how might it impact business ?
Both Amsterdam and Zurich ranked in the top two positions for @ @ @ @ @ @ @ the extent of their green finance markets and the quality of the products that can be traded there .
Meanwhile , London lost its footing as world leader in the quality index , while it climbed from sixth place to fourth position for green finance depth , behind Danish capital Copenhagen .
Z/Yen said the capital ’ s loss as the front-runner “ might indicate that more weight is being given to green finance in leading financial centres ” .
“ Places where sustainability is a hallmark of public life and discourse have @ @ @ @ @ @ @ , added Z/Yen executive chairman Michael Mainelli .
Western Europe ’ s financial sector continued to dominate the charts for its sustainability , infrastructure and human capital , taking nine of the top 10 places in depth and all top 10 places in quality in this year ’ s GGFI .
“ This reflects the continuing work being undertaken by European financial institutions , central banks , regulators , and the European Union to embed sustainability in their regulatory work , including their economic support in response to the Covid-19 pandemic , ” @ @ @ @ @ @ @ UK last year launched its Green Finance Strategy , as part of plans to strengthen Britain ’ s economic policy for balanced growth in line with climate change commitments .
The strategy has seen the government pour investment in Britain ’ s low carbon economy , as the UK seeks to reach net zero carbon emissions by 2050 .
Over the past three years , the amount raised in green bonds on the London Stock Exchange ( LSE ) has almost tripled , from £8bn in 2017 to £22.4bn this year .
There @ @ @ @ @ @ @ the LSE , and more than 100 green companies which generate at least 20 per cent of revenue from green economy industries .
Business secretary Alok Sharma last week called on allies to jump on the pandemic as an opportunity to reshape the global economy in line with sustainability goals .
“ By investing now , to reduce our emissions , build resilience , and adapt to climate change , we can create jobs and generate growth , ” Sharma said .
“ And at the same time , we can protect the @ @ @ @ @ @ @ international financial system is going to be integral to delivering a green recovery .
Countries , public financial institutions , business , and civil society , we must all work together towards building back greener.
” The UK and the UN secretary general are set to co-host a summit on the fifth anniversary of the Paris agreement on 12 December , alongside France , Chile and Italy .
Read more : Investing in a greener future : How do we make the sums add up ?
Sharma announced last week the UK is @ @ @ @ @ @ @ to around £11.6bn over a five year period .
“ We have an opportunity to unite the world to meet shared challenges , at this pivotal moment in our shared history , ” he said .

London loses crown as global green finance leader
London has lost its world crown for green finance quality, slipping behind Amsterdam and Zurich after more than two years at the helm, according to the latest Z/Yen index.
In its 2020 Global Green Finance Index (GGFI) released to City A.M., the City of London think tank ranked 74 financial centres across the world for their public, private and nonprofit investment in sustainable development projects.
Both Amsterdam and Zurich ranked in the top two positions for green finance depth and quality, indicating the extent of their green finance markets and the quality of the products that can be traded there.
Meanwhile, London lost its footing as world leader in the quality index, while it climbed from sixth place to fourth position for green finance depth, behind Danish capital Copenhagen.
Z/Yen said the capital’s loss as the front-runner “might indicate that more weight is being given to green finance in leading financial centres”.
“Places where sustainability is a hallmark of public life and discourse have a marked advantage in green finance”, added Z/Yen executive chairman Michael Mainelli.
Western Europe’s financial sector continued to dominate the charts for its sustainability, infrastructure and human capital, taking nine of the top 10 places in depth and all top 10 places in quality in this year’s GGFI.
“This reflects the continuing work being undertaken by European financial institutions, central banks, regulators, and the European Union to embed sustainability in their regulatory work, including their economic support in response to the Covid-19 pandemic,” Mainelli said.
It comes after the UK last year launched its Green Finance Strategy, as part of plans to strengthen Britain’s economic policy for balanced growth in line with climate change commitments.
The strategy has seen the government pour investment in Britain’s low carbon economy, as the UK seeks to reach net zero carbon emissions by 2050.
Over the past three years, the amount raised in green bonds on the London Stock Exchange (LSE) has almost tripled, from £8bn in 2017 to £22.4bn this year.
There are now 22 green funds listed on the LSE, and more than 100 green companies which generate at least 20 per cent of revenue from green economy industries.
Business secretary Alok Sharma last week called on allies to jump on the pandemic as an opportunity to reshape the global economy in line with sustainability goals.
“By investing now, to reduce our emissions, build resilience, and adapt to climate change, we can create jobs and generate growth,” Sharma said. “And at the same time, we can protect the planet for future generations.”
“The international financial system is going to be integral to delivering a green recovery. Countries, public financial institutions, business, and civil society, we must all work together towards building back greener.”
The UK and the UN secretary general are set to co-host a summit on the fifth anniversary of the Paris agreement on 12 December, alongside France, Chile and Italy.
Sharma announced last week the UK is set to double its international climate finance to around £11.6bn over a five year period.
“We have an opportunity to unite the world to meet shared challenges, at this pivotal moment in our shared history,” he said.


cityam--2020-10-27--Covid-19 sparks bleakest UK hotel sector outlook 'in 50 years'

UK hotel trading performance is expected to plummet next year due to the impact of the coronavirus pandemic on travel and tourism , the latest research showed in the bleakest outlook for the sector in 50 years .
Research by accountancy giant PwC showed that hotel occupancy rates are forecast to be 55 per cent across the UK and could take four years to recover to pre-pandemic levels .
In London , where occupancy levels have sunk to 28.8 per cent this year , visitor numbers are expected to reach 52.4 per cent in 2021 .
Regional hotels will fare @ @ @ @ @ @ @ 59.2 per cent , assuming there is a vaccine by next summer .
In comparison , London hotels recorded an occupancy rate of 83.4 per cent last year , while levels reached 75.4 per cent in the regions .
Meanwhile , in the capital , revenue per available room could drop by £100 to £28.72 this year .
It is expected to recover to £64.81 next year , but it is not forecast to return to pre-pandemic levels until at least 2023 .
London has been particularly impacted by a slow recovery in @ @ @ @ @ @ @ business trips , meetings and events .
Sam Ward , UK hotels leader at PwC , said : “ As the UK travel and tourism sector bears a considerable brunt of the impact of COVID-19 this is far from business as usual .
“ No previous event has had such a deep and long-lasting negative impact on hotels and there is no quick fix .
“ The silver lining is that UK regions should benefit from increased staycation demand in 2021 and coast and country properties offer potential .
“ Meanwhile the fall @ @ @ @ @ @ @ complete lack of sports and music events will see big city hotels suffer disproportionately .
”

Covid-19 sparks bleakest UK hotel sector outlook ‘in 50 years’
UK hotel trading performance is expected to plummet next year due to the impact of the coronavirus pandemic on travel and tourism, the latest research showed in the bleakest outlook for the sector in 50 years.
Research by accountancy giant PwC showed that hotel occupancy rates are forecast to be 55 per cent across the UK and could take four years to recover to pre-pandemic levels.
In London, where occupancy levels have sunk to 28.8 per cent this year, visitor numbers are expected to reach 52.4 per cent in 2021.
Regional hotels will fare slightly better with an occupancy rate of 59.2 per cent, assuming there is a vaccine by next summer.
In comparison, London hotels recorded an occupancy rate of 83.4 per cent last year, while levels reached 75.4 per cent in the regions.
Meanwhile, in the capital, revenue per available room could drop by £100 to £28.72 this year. It is expected to recover to £64.81 next year, but it is not forecast to return to pre-pandemic levels until at least 2023.
London has been particularly impacted by a slow recovery in corporate international travel and weak demand for business trips, meetings and events.
Sam Ward, UK hotels leader at PwC, said: “As the UK travel and tourism sector bears a considerable brunt of the impact of COVID-19 this is far from business as usual.
“No previous event has had such a deep and long-lasting negative impact on hotels and there is no quick fix.
“The silver lining is that UK regions should benefit from increased staycation demand in 2021 and coast and country properties offer potential.
“Meanwhile the fall in corporate demand, coupled with the complete lack of sports and music events will see big city hotels suffer disproportionately.”


cityam--2020-10-27--UK legal case launched against Fiat Chrysler over diesel emissions

Auto giant Fiat Chrysler ( FCA ) is facing a £5bn UK legal challenge over claims that the carmaker concealed the true levels of emissions that its vehicles produced from customers .
International law firm PGMBM has issued a case in the High Court alleging that up to half a million cars manufactured since 2008 were fitted with so-called “ defeat devices ” .
Read more : Fiat Chrysler and Peugeot owner ‘ set to win Brussels approval ’ for $ 38bn merger The firm says that UK drivers who bought or leased these vehicles could be entitled to compensation @ @ @ @ @ @ @ the class action .
The new case comes a year after the FCA agreed a $ 800m settlement in the US relating to the use of illegal software that produced false results on diesel emissions tests .
It is the latest in a string of cases brought against car firms for cheating such tests by covering up the true levels of nitrogen oxide their cars produce .
The scandal , which has been dubbed “ Dieselgate ” , has battered the auto industry since 2015 , when Volkswagen confessed to installing “ defeat @ @ @ @ @ @ @ US .
Before the Open newsletter : Start your day with the City View podcast and key market data PGMBM said that brands including Fiat , Alfa Romeo , Jeep , Suzuki and Iveco were all included in its case .
Managing partner Tom Goodhead said : “ Fiat Chrysler Automobiles have misled drivers about the true diesel emissions that many of their vehicles produce .
“ This is yet another instance of a huge automotive firm conning consumers – with a significant impact on the environment and our collective wellbeing .
Read @ @ @ @ @ @ @ ’ of nitrogen oxide problem , lawyers say “ FCA must be held to account for these practices , and this case will give consumers the opportunity to pursue some justice and be compensated for being misled by a company that they may have trusted.
” City A.M. has approached Fiat Chrysler for a response .

UK legal case launched against Fiat Chrysler over diesel emissions
Auto giant Fiat Chrysler (FCA) is facing a £5bn UK legal challenge over claims that the carmaker concealed the true levels of emissions that its vehicles produced from customers.
International law firm PGMBM has issued a case in the High Court alleging that up to half a million cars manufactured since 2008 were fitted with so-called “defeat devices”.
The firm says that UK drivers who bought or leased these vehicles could be entitled to compensation worth up to £10,000 as part of the class action.
The new case comes a year after the FCA agreed a $800m settlement in the US relating to the use of illegal software that produced false results on diesel emissions tests.
It is the latest in a string of cases brought against car firms for cheating such tests by covering up the true levels of nitrogen oxide their cars produce.
The scandal, which has been dubbed “Dieselgate”, has battered the auto industry since 2015, when Volkswagen confessed to installing “defeat devices” on vehicles sold in the US.
Before the Open newsletter: Start your day with the City View podcast and key market data
Earlier this year London law firm Fox Williams said they were building a similar class action against Mercedes.
PGMBM said that brands including Fiat, Alfa Romeo, Jeep, Suzuki and Iveco were all included in its case.
Managing partner Tom Goodhead said: “Fiat Chrysler Automobiles have misled drivers about the true diesel emissions that many of their vehicles produce.
“This is yet another instance of a huge automotive firm conning consumers – with a significant impact on the environment and our collective wellbeing.
“FCA must be held to account for these practices, and this case will give consumers the opportunity to pursue some justice and be compensated for being misled by a company that they may have trusted.”
An FCA spokesperson:”FCA believes this claim to be totally without merit and we will vigorously defend ourselves against it.”


cityam--2020-10-27--Coronavirus: Antibody levels drop by a quarter as second wave hits

The proportion of people in England with Covid-19 antibodies has dropped by more than a quarter since the first wave of the pandemic , official figures have revealed .
The findings of a major study into Covid-19 antibodies , published today , showed the number of people who tested positive for antibodies has fallen from six per cent to 4.4 per cent — a decline of 26.5 per cent .
Read more : GSK antibody treatment trial to move onto next phase The figures suggest antibody levels reduce in the weeks and months after a person is infected , raising @ @ @ @ @ @ @ for the virus could be reinfected at a later date .
However , it remains unclear whether antibodies provide any effective level of immunity or , if they do , how long the immunity lasts .
The study of more than 365,000 participants , carried out by Imperial College London and Ipsos Mori , analysed changes in antibody levels over the three-month period between 20 June and 28 September .
While the decline was recorded across all age groups , the data showed antibody levels declined at a far slower rate among younger @ @ @ @ @ @ @ per cent in 18 to 24-year-olds over the period , compared to 39 per cent among people aged 75 and older .
The results also suggested that people who did not show symptoms of Covid-19 are likely to lose antibodies sooner than those who did show symptoms .
“ Our study shows that over time there is a reduction in the proportion of people testing positive for antibodies against the virus that causes Covid-19 , ” said professor Paul Elliott , director of the React programme at Imperial .
“ It remains unclear @ @ @ @ @ @ @ or for how long this immunity lasts .
If someone tests positive for antibodies , they still need to follow national guidelines including social distancing measures , getting a swab test if they have symptoms and wearing face coverings where required.
” The results of the study come as fresh lockdown restrictions are rolled out across the UK in a bid to halt a second wave of coronavirus infections .
Read more : Astrazeneca shares up on Covid-19 vaccine hospital rollout reports But there were some positive signs yesterday after it emerged that @ @ @ @ @ @ @ of a new Covid-19 vaccine .
Pharmaceutical giant Astrazeneca , which is developing the vaccine with the University of Oxford , said its vaccine produced an immune response in both younger and older adults .

Coronavirus: Antibody levels drop by a quarter as second wave hits
The study showed the number of people with Covid-19 antibodies fell by more than a quarter
The proportion of people in England with Covid-19 antibodies has dropped by more than a quarter since the first wave of the pandemic, official figures have revealed.
The findings of a major study into Covid-19 antibodies, published today, showed the number of people who tested positive for antibodies has fallen from six per cent to 4.4 per cent — a decline of 26.5 per cent.
The figures suggest antibody levels reduce in the weeks and months after a person is infected, raising questions over whether people who test positive for the virus could be reinfected at a later date.
However, it remains unclear whether antibodies provide any effective level of immunity or, if they do, how long the immunity lasts.
The study of more than 365,000 participants, carried out by Imperial College London and Ipsos Mori, analysed changes in antibody levels over the three-month period between 20 June and 28 September.
While the decline was recorded across all age groups, the data showed antibody levels declined at a far slower rate among younger people.
Antibody levels fell just 15 per cent in 18 to 24-year-olds over the period, compared to 39 per cent among people aged 75 and older.
The results also suggested that people who did not show symptoms of Covid-19 are likely to lose antibodies sooner than those who did show symptoms.
“Our study shows that over time there is a reduction in the proportion of people testing positive for antibodies against the virus that causes Covid-19,” said professor Paul Elliott, director of the React programme at Imperial.
“It remains unclear what level of immunity antibodies provide, or for how long this immunity lasts. If someone tests positive for antibodies, they still need to follow national guidelines including social distancing measures, getting a swab test if they have symptoms and wearing face coverings where required.”
The results of the study come as fresh lockdown restrictions are rolled out across the UK in a bid to halt a second wave of coronavirus infections.
But there were some positive signs yesterday after it emerged that hospitals were preparing for the first doses of a new Covid-19 vaccine.
Pharmaceutical giant Astrazeneca, which is developing the vaccine with the University of Oxford, said its vaccine produced an immune response in both younger and older adults.


cityam--2020-10-26--Former prime minister David Cameron backs black internship initiative

Former Prime Minister David Cameron is among high-profile figures who have thrown their weight behind a new initiative aimed at increasing the number of internships available to black candidates .
The 10,000 Black Interns initiative , set to launch tomorrow , is designed to boost the number of paid work experience positions for young black people in major industries including finance and law .
Read more : Natwest vows to boost number of black employees in senior roles Organisers of the scheme , which is based on a smaller programme that provided internships in the fund management sector , said @ @ @ @ @ @ @ the accountancy , education , finance , legal , marketing and recruitment sectors , among others .
The programme has also secured backing from former Labour Party figures and the CBI .
“ This initiative will help build a more inclusive economy that works for everyone , ” Cameron said .
The scheme , which will be the first major internship scheme aimed at black applicants , comes amid growing scrutiny over the lack of diversity in top roles at British businesses .
Figures published by the Office for National Statistics showed that @ @ @ @ @ @ @ nine per cent less per hour than white British workers , while those of Chinese and Indian heritage earned 31 per cent and 12 per cent more respectively .
Black employees typically earned more than those with Pakistani or Bangladeshi heritage .
In August the UK ’ s fund management industry came together to launch 100 Black Interns , a project offering paid internships in the sector next summer .
The programme was spearheaded by Jonathan Sorrell , president of Capstone Investment Advisors , and secured backing from more than 70 City institutions @ @ @ @ @ @ @ Janus Henderson .
The launch of the expanded programme comes a week after the London Chamber of Commerce rolled out a new scheme to support black business ownership and black employees in the capital .

Former prime minister David Cameron backs black internship initiative
David Cameron has backed the new 10,000 Black Interns programme
Former Prime Minister David Cameron is among high-profile figures who have thrown their weight behind a new initiative aimed at increasing the number of internships available to black candidates.
The 10,000 Black Interns initiative, set to launch tomorrow, is designed to boost the number of paid work experience positions for young black people in major industries including finance and law.
Organisers of the scheme, which is based on a smaller programme that provided internships in the fund management sector, said they have received support from employers in the accountancy, education, finance, legal, marketing and recruitment sectors, among others.
The programme has also secured backing from former Labour Party figures and the CBI.
“This initiative will help build a more inclusive economy that works for everyone,” Cameron said.
The scheme, which will be the first major internship scheme aimed at black applicants, comes amid growing scrutiny over the lack of diversity in top roles at British businesses.
Figures published by the Office for National Statistics showed that in 2018 black employees earned on average nine per cent less per hour than white British workers, while those of Chinese and Indian heritage earned 31 per cent and 12 per cent more respectively.
Black employees typically earned more than those with Pakistani or Bangladeshi heritage.
In August the UK’s fund management industry came together to launch 100 Black Interns, a project offering paid internships in the sector next summer.
The programme was spearheaded by Jonathan Sorrell, president of Capstone Investment Advisors, and secured backing from more than 70 City institutions, including Man Group, Pimco and Janus Henderson.
The launch of the expanded programme comes a week after the London Chamber of Commerce rolled out a new scheme to support black business ownership and black employees in the capital.


cityam--2020-10-26--Wall Street leads global stocks slump as Covid-19 infections rise

Wall Street suffered its worst daily decline in weeks today as global stock markets posted losses amid a rise in new Covid-19 infections .
There was a sea of red across the major US indices as markets closed this evening , with the S & P 500 posting its sharpest daily fall in four weeks .
The downbeat sentiment across the pond followed on from a lacklustre day of trading in Europe , where a string of fresh lockdown restrictions have come into force .
The FTSE 100 closed 1.16 per cent lower this afternoon , while the more domestically-focused @ @ @ @ @ @ @ .
Coronavirus cases have risen sharply in Europe and the US in recent weeks .
Over the weekend , Italy brought in its strongest restrictions since the first wave of cases in May .
Spain also toughened up its rules , and countries have put in place new restrictions over the past few weeks .
Germany ’ s Dax plunged 3.7 per cent today , dragged down by software giant SAP which cut its sales outlook .
The Europe-wide Stoxx 600 fell 1.8 per cent .
On Wall Street , indices were down @ @ @ @ @ @ @ Investors sought the safety of the dollar and government bonds .
“ Ugly headlines are everywhere , ” said Edward Moya , senior market analyst at currency firm Oanda .
“ Wall Street is in for a rough session as virus anxiety runs wild .
Europe ’ s second wave is accelerating.
” The FTSE 100 was a relative outperformer , however , after The Times reported that the Bank of England and UK lenders are negotiating a deal to allow dividends to be paid again .
Barclays , Natwest and Lloyds all @ @ @ @ @ @ @ they slipped back in the afternoon .
Worries over the global economy saw stocks like Burberry , Intercontinental Hotels , and Rolls Royce drop .
Read more : Oil prices fall on fears of production boost amid surge in Covid-19 cases Oil prices fell on expectations of lower demand as new coronavirus restrictions are put in place .
The global benchmark Brent crude price was down 3.4 per cent to $ 40.30 .
That weighed on FTSE 100 oil firms BP and Shell .
On Wall Street , the benchmark S & P @ @ @ @ @ @ @ worst decline in the last four weeks .
The Dow Jones dropped 2.3 per cent and the Nasdaq fell 1.6 per cent .
Coronavirus cases have risen sharply in recent days .
The US reported an average of 69,814 cases a day over the last week , according to a New York Times tracker .
That was up 32 per cent from the average two weeks earlier .
US stocks were also dragged down by the continued failure by Republicans and Democrats to agree on a fresh funding deal .
Although there have @ @ @ @ @ @ @ looks increasingly unlikely that there will be another fiscal stimulus bill before the 3 November presidential election .
Expectations of a Democrat “ clean sweep ” – with the party taking both the presidency and Congress – have also fallen recently .
Investors think that makes a very large stimulus package less likely .
Moya said : “ Stimulus talks are ongoing , but no one should be pricing in a deal before the election.
” The dollar rose 0.4 per cent against a basket of other currencies .
Investors traditionally seek out @ @ @ @ @ @ @ stress .
US Treasury bonds also rose .
Once again it was travel firms that bore the brunt of the stocks sell-off today .
The S & P 1500 airlines index fell roughly 5.6 per cent , while cruise operators Carnival and Royal Caribbean fell 8.7 per cent and 9.7 per cent respectively .
British Airways owner IAG dropped 7.6 per cent , while budget rivals Easyjet and Ryanair both closed in the red .
“ Stock markets in Europe have been rocked by the jump in Covid-19 cases , and the stricter @ @ @ @ @ @ @ said David Madden at CMC Markets .
“ During the summer months , there was a sense of optimism in the markets as economies were being reopened and there was a view that governments had a handle on the crisis .
“ Now there is a feeling that countries are struggling to contain the health emergency , and the announcement of curfews and localised lockdowns adds to the view that things are going to get worse before they get better .
”

Wall Street leads global stocks slump as Covid-19 infections rise
US stocks suffered their worst daily decline in weeks
Wall Street suffered its worst daily decline in weeks today as global stock markets posted losses amid a rise in new Covid-19 infections.
There was a sea of red across the major US indices as markets closed this evening, with the S&P 500 posting its sharpest daily fall in four weeks.
The downbeat sentiment across the pond followed on from a lacklustre day of trading in Europe, where a string of fresh lockdown restrictions have come into force.
The FTSE 100 closed 1.16 per cent lower this afternoon, while the more domestically-focused FTSE 250 was down 1.42 per cent.
Read more: Coronavirus: UK economic recovery stumbles as business growth slips
Coronavirus cases have risen sharply in Europe and the US in recent weeks. Over the weekend, Italy brought in its strongest restrictions since the first wave of cases in May.
Spain also toughened up its rules, and countries have put in place new restrictions over the past few weeks.
Germany’s Dax plunged 3.7 per cent today, dragged down by software giant SAP which cut its sales outlook. The Europe-wide Stoxx 600 fell 1.8 per cent.
On Wall Street, indices were down between 1.8 and 2.3 per cent. Investors sought the safety of the dollar and government bonds.
“Ugly headlines are everywhere,” said Edward Moya, senior market analyst at currency firm Oanda. “Wall Street is in for a rough session as virus anxiety runs wild. Europe’s second wave is accelerating.”
Dividend hopes help FTSE 100 lenders
The FTSE 100 was a relative outperformer, however, after The Times reported that the Bank of England and UK lenders are negotiating a deal to allow dividends to be paid again.
Barclays, Natwest and Lloyds all rose earlier in the session. But they slipped back in the afternoon.
Worries over the global economy saw stocks like Burberry, Intercontinental Hotels, and Rolls Royce drop.
Read more: Oil prices fall on fears of production boost amid surge in Covid-19 cases
Oil prices fell on expectations of lower demand as new coronavirus restrictions are put in place.
The global benchmark Brent crude price was down 3.4 per cent to $40.30. That weighed on FTSE 100 oil firms BP and Shell.
US stocks tumble as stimulus hopes fade
On Wall Street, the benchmark S&P 500 dropped 1.86 per cent — its worst decline in the last four weeks.
The Dow Jones dropped 2.3 per cent and the Nasdaq fell 1.6 per cent.
Coronavirus cases have risen sharply in recent days. The US reported an average of 69,814 cases a day over the last week, according to a New York Times tracker. That was up 32 per cent from the average two weeks earlier.
US stocks were also dragged down by the continued failure by Republicans and Democrats to agree on a fresh funding deal.
Although there have been mixed signals from talks, it looks increasingly unlikely that there will be another fiscal stimulus bill before the 3 November presidential election.
Expectations of a Democrat “clean sweep” – with the party taking both the presidency and Congress – have also fallen recently. Investors think that makes a very large stimulus package less likely.
Moya said: “Stimulus talks are ongoing, but no one should be pricing in a deal before the election.”
The dollar rose 0.4 per cent against a basket of other currencies. Investors traditionally seek out the ultra-safe greenback at times of financial stress. US Treasury bonds also rose.
Read more: Number 10 extends Brexit talks until Wednesday
Travel trouble
Once again it was travel firms that bore the brunt of the stocks sell-off today.
The S&P 1500 airlines index fell roughly 5.6 per cent, while cruise operators Carnival and Royal Caribbean fell 8.7 per cent and 9.7 per cent respectively.
British Airways owner IAG dropped 7.6 per cent, while budget rivals Easyjet and Ryanair both closed in the red.
“Stock markets in Europe have been rocked by the jump in Covid-19 cases, and the stricter restrictions are a factor too,” said David Madden at CMC Markets.
“During the summer months, there was a sense of optimism in the markets as economies were being reopened and there was a view that governments had a handle on the crisis.
“Now there is a feeling that countries are struggling to contain the health emergency, and the announcement of curfews and localised lockdowns adds to the view that things are going to get worse before they get better.”


cityam--2020-10-26--Sunak spars with education secretary in free school meals row

Chancellor Rishi Sunak locked heads with the education secretary today as both ministers attempted to shirk the blame for the government ’ s decision not to extend free school meals throughout the October half-term .
Sunak rebutted claims made in the Sun on Sunday yesterday that the Treasury had “ parked the bus ” on providing free school meal vouchers for more than 1.3m disadvantaged children in England during the school holidays .
Read more : Boris Johnson promises ‘ no children will go hungry ’ as free school meals row escalates “ There has been no new proposal from @ @ @ @ @ @ @ for this half-term , ” a source close to the chancellor told the Financial Times .
“ It ’ s pathetic , really , ” the source said , adding that they believed education secretary Gavin Williamson to be behind the briefing .
An extension to the free school meal vouchers would mean an extra £20m in funding per week would need to be signed off by the chancellor .
The row has seen ministers scramble to answer demands made by Marcus Rashford , the Manchester United footballer who has campaigned for the @ @ @ @ @ @ @ by the England striker calling for provision to continue in the half-term holidays has gained more than 900,000 signatures so far .
Rashford ’ s appeal marks the latest plight in his free school meals campaign , after a similar request over the summer holidays proved successful .
Williamson , Sunak and the Prime Minister all agreed not to bow to future campaigns for free school meal vouchers over fears it might set a precedent for government spending , the FT reported .
But the chancellor will next month undertake a one-year review @ @ @ @ @ @ @ free up more cash to help disadvantaged families over the Christmas holidays .
It comes after Boris Johnson today promised that “ no children ” in England will “ go hungry this winter ” , as the Prime Minister faced mounting pressure to U-turn on his decision not to hand out meal vouchers for low-income children .
“ We certainly recognise that there is an issue .
We have been dealing with it continuously throughout the period of the pandemic , and we ’ re going to continue to deal with it , @ @ @ @ @ @ @ “ We ’ re going to make sure that we have no children , no kids , no pupils in our country who go hungry this winter , certainly not as a result of any government inattention.
” Scotland , Wales and Northern Ireland have already introduced food voucher schemes to cover the holiday period .
Last week , Conservative MPs voted against Labour ’ s attempt to extend free school meals in England by 322 votes to 261 , with five Tory MPs rebelling and voting for Labour ’ s motion .
@ @ @ @ @ @ @ ’ s vote had been “ partly stoked up ” by Williamson , who regarded free school meals as “ a leftwing issue ” .
The government ’ s own advisory committee on social mobility today backed Rashford ’ s campaign on free school meals , but said ministers must go “ much further ” in ending child poverty .
Read more : Nottingham to move into Tier 3 from Thursday night A spokesperson for the Social Mobility Commission said : “ We know that the current pandemic is having its greatest impact @ @ @ @ @ @ @ people are already struggling to afford food for their families .
“ Our earlier research this year showed that 600,000 more children are in poverty than in 2012 .
We believe the government should do all it can to start reversing that trend .
”

Sunak spars with education secretary in free school meals row
Chancellor Rishi Sunak locked heads with the education secretary today as both ministers attempted to shirk the blame for the government’s decision not to extend free school meals throughout the October half-term.
Sunak rebutted claims made in the Sun on Sunday yesterday that the Treasury had “parked the bus” on providing free school meal vouchers for more than 1.3m disadvantaged children in England during the school holidays.
“There has been no new proposal from the Department for Education about releasing cash for this half-term,” a source close to the chancellor told the Financial Times.
“It’s pathetic, really,” the source said, adding that they believed education secretary Gavin Williamson to be behind the briefing.
An extension to the free school meal vouchers would mean an extra £20m in funding per week would need to be signed off by the chancellor.
The row has seen ministers scramble to answer demands made by Marcus Rashford, the Manchester United footballer who has campaigned for the food voucher scheme.
A petition created by the England striker calling for provision to continue in the half-term holidays has gained more than 900,000 signatures so far.
Rashford’s appeal marks the latest plight in his free school meals campaign, after a similar request over the summer holidays proved successful.
Williamson, Sunak and the Prime Minister all agreed not to bow to future campaigns for free school meal vouchers over fears it might set a precedent for government spending, the FT reported.
But the chancellor will next month undertake a one-year review of government spending, which will likely free up more cash to help disadvantaged families over the Christmas holidays.
It comes after Boris Johnson today promised that “no children” in England will “go hungry this winter”, as the Prime Minister faced mounting pressure to U-turn on his decision not to hand out meal vouchers for low-income children.
“We certainly recognise that there is an issue. We have been dealing with it continuously throughout the period of the pandemic, and we’re going to continue to deal with it,” the PM told BBC News.
“We’re going to make sure that we have no children, no kids, no pupils in our country who go hungry this winter, certainly not as a result of any government inattention.”
Scotland, Wales and Northern Ireland have already introduced food voucher schemes to cover the holiday period.
Last week, Conservative MPs voted against Labour’s attempt to extend free school meals in England by 322 votes to 261, with five Tory MPs rebelling and voting for Labour’s motion.
A senior Tory MP said last week’s vote had been “partly stoked up” by Williamson, who regarded free school meals as “a leftwing issue”.
The government’s own advisory committee on social mobility today backed Rashford’s campaign on free school meals, but said ministers must go “much further” in ending child poverty.
A spokesperson for the Social Mobility Commission said: “We know that the current pandemic is having its greatest impact on the poorest regions in Britain where people are already struggling to afford food for their families.
“Our earlier research this year showed that 600,000 more children are in poverty than in 2012. We believe the government should do all it can to start reversing that trend.”


cityam--2020-10-26--Eurostar launches direct Amsterdam to London service – but was anybody onboard it?

Eurostar ’ s eagerly-awaited direct Amsterdam to London service launched today despite a sharp fall in passenger numbers due to the pandemic .
The rail operator today kicked off the route , which takes 3 hours and 52 minutes , with an initial service of just two trains per day .
Read more : Eurostar blames coronavirus for scrapping wi-fi on most seats Eurostar first launched services to Amsterdam and Rotterdam in 2018 , but passengers were previously required to go through passport and security controls in Brussels on the return leg .
The new direct route , priced from @ @ @ @ @ @ @ hour off the journey time .
The cross-Channel rail service originally planned to start the direct route at the end of April , but was forced to push back the launch due to the outbreak of coronavirus .
But Eurostar opted to plough ahead with today ’ s launch despite continued travel restrictions , with travellers returning to the UK from the Netherlands required to self-isolate for 14 days .
The train company , which is 60 per cent owned by French state rail firm SNCF , has suffered a sharp downturn in @ @ @ @ @ @ @ crisis .
It is currently operating just five services a day to Paris and Brussels , down from pre-pandemic levels of 30 per day .
It has also been forced to cancel all services from Ebbsfleet and Ashford International until 2022 .
Read more : Eurostar may need state support as passenger numbers collapse Eurostar has introduced a new flexible ticket model , allowing customers to change their booking as many times as they want up to 14 days before departure .
But the boss of the HS1 line , which runs between @ @ @ @ @ @ @ warned that the government may need to provide emergency funding to the train operator as a result of the crisis .

Eurostar launches direct Amsterdam to London service – but was anybody onboard it?
Eurostar was forced to delay the launch of its direct Amsterdam service due to coronavirus
Eurostar’s eagerly-awaited direct Amsterdam to London service launched today despite a sharp fall in passenger numbers due to the pandemic.
The rail operator today kicked off the route, which takes 3 hours and 52 minutes, with an initial service of just two trains per day.
Eurostar first launched services to Amsterdam and Rotterdam in 2018, but passengers were previously required to go through passport and security controls in Brussels on the return leg.
The new direct route, priced from £40 each way, takes roughly an hour off the journey time.
The cross-Channel rail service originally planned to start the direct route at the end of April, but was forced to push back the launch due to the outbreak of coronavirus.
But Eurostar opted to plough ahead with today’s launch despite continued travel restrictions, with travellers returning to the UK from the Netherlands required to self-isolate for 14 days.
The train company, which is 60 per cent owned by French state rail firm SNCF, has suffered a sharp downturn in passenger numbers since the start of the crisis.
It is currently operating just five services a day to Paris and Brussels, down from pre-pandemic levels of 30 per day.
It has also been forced to cancel all services from Ebbsfleet and Ashford International until 2022.
Eurostar has introduced a new flexible ticket model, allowing customers to change their booking as many times as they want up to 14 days before departure.
But the boss of the HS1 line, which runs between London and the Channel Tunnel, has warned that the government may need to provide emergency funding to the train operator as a result of the crisis.