BUSINESS WITH PERSONALITY
WILD CARD RORY THE WEEKEND SHALL COME HEATS UP THE OUR GUIDE ON WHAT TO SEE 2020 MAYORAL AND DO IN LONDON P28-29 ELECTION P18 FRIDAY 11 OCTOBER 2019 ISSUE 3,476 CITYAM.COM FREE
Ex-Freshfields man fined for DYSON PULLS PLUG misconduct JAMES BOOTH @Jamesdbooth1 AN EX-FRESHFIELDS partner escaped being struck off yesterday after a tribunal ON ELECTRIC CAR found he had engaged in sexual activity with a heavily intoxicated junior lawyer. JESS CLARK redeployed towards other new Ryan Beckwith tearfully @jclarkjourno technologies, the company said. hugged his wife after the Patents for the electric car, which the sanction was handed down. SIR JAMES Dyson has scrapped his high- company hoped would compete with the The Solicitors Disciplinary profile £1bn electric vehicle project, likes of Tesla, were unveiled earlier this Tribunal (SDT) fined Beckwith claiming the scheme is not commercially year, as Dyson aimed to sell the first £35,000 and ordered him to viable. vehicles by 2021. pay costs of £200,000. The billionaire inventor told employees At the time Dyson said the vehicle The panel dismissed another yesterday that the Dyson team had would “include fundamentally new allegation that Beckwith had developed a “fantastic” car but had been technologies and make some inventive kissed the unnamed junior unable to find a buyer for the project. leaps”. lawyer, known as Person A, on Members of the development team The project hit the headlines in October another occasion. could now be facing redundancy, last year after Dyson decided to produce Beckwith resigned from although the company said it is working the company’s first electric car in Freshfields yesterday. to find alternative roles and has sufficient Singapore, rather than in its British In a statement, his solicitor vacancies to redeploy most employees. factories, despite having invested around Nick Brett of Brett Wilson, “Though we have tried very hard £200m in a British research and said: “Mr Beckwith is throughout the development process, we development site. disappointed with the finding simply can no longer see a way to make it Critics questioned the inventor’s of the tribunal.” commercially viable,” Dyson said in a decision to manufacture the car outside Restructuring partner note to employees. of the UK, not least in light of the Beckwith, 41, was accused by a “We have been through a serious founder’s vocal support for Brexit. former junior lawyer of the process to find a buyer for the project However, chief executive Jim Rowan firm of taking advantage of which has, unfortunately, been said Singapore was selected as a her when she was too drunk to unsuccessful so far. production site “based on supply chains, consent. “I wanted you to hear directly from me access to markets, and the availability of Beckwith denied the that the Dyson board has therefore taken the expertise that will help us achieve our accusations, and characterised the very difficult decision to propose the ambitions”. the night the two spent at her closure of our automotive project.” Dyson told staff yesterday that the flat as “a consensual sexual The car project was unveiled as part of company’s “investment appetite is encounter”. a £2.5bn investment programme, with undiminished” and vowed to “deepen The SDT hearing was not £1bn allocated to the car, a further £1bn our roots in both the UK and Singapore”. focused on the issue of towards battery technology and £500m “This is not the first project which has consent, with Beckwith for other developments. changed direction and it will not be accused of conduct The investment pot will now be the last.” “unbecoming of a member of the profession”. Varadkar and Johnson toast to ‘very positive and very promising’ Brexit talks CATHERINE NEILAN The two leaders sparked hopes of enjoyed its biggest gains in six during a walk in the grounds of ahead of further talks. AND SEBASTIAN MCCARTHY an end to the Brexit deadlock by months after Varadkar said he Thornton Manor in north-west Brexit secretary Steve Barclay @CatNeilan @SebMcCarthy issuing a joint statement revealing thought an outline of a deal would England. will meet EU’s chief negotiator that “they could see a pathway to a be possible ahead of next week’s The upbeat statement comes Michel Barnier today. IRISH Taoiseach Leo Varadkar possible deal”. crunch summit of EU leaders. after a week of increasingly tense Brussels has said a compromise suggested yesterday that a Brexit Varadkar added: “I think it is However, the Irish leader added briefings from Number 10 and must be found by the end of this deal could be reached by the possible for us to come to an that “there was many a slip public statements from Dublin week if a deal is to be agreed at the October deadline, striking a agreement, to have a treaty... done between cup and lip”. that said a deal was “very difficult”. European Council next Thursday. cautiously optimistic tone after by the end of October.” Varadkar and Johnson said they Both sides will now consult with holding last-ditch talks with Prime The pound bounced 1.9 per cent held “detailed” and “constructive” their respective negotiating teams, £ CONTINUES ON P3 Minister Boris Johnson. to $1.244 last night, as sterling talks after a one-to-one discussion including the EU’s Taskforce 50, £ PM CALLS FOR FTSE SUPPORT: P5
FTSE 100▲ 7,186.36 +19.86 FTSE 250▲ 19,235.72 +64.12 DOW▲ 26,496.67 +150.66 NASDAQ▲ 7,950.78 +47.04 £/$▲ 1.244 +0.024 £/€▲ 1.130 +0.018 €/$▲ 1.101 +0.004 02 NEWS FRIDAY 11 OCTOBER 2019 CITYAM.COM
ACTIVISTS HIT CITY AIRPORT Extinction Rebellion forced just two flight cancellations despite promising a three-day shutdown THE CITY VIEW Boris rekindles hope of Brexit breakthrough
HIS is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning. Then again, it Tmight not be. In the days before Boris Johnson and Leo Varadkar’s meeting yesterday at a Liverpool wedding venue, talk on both sides of the Channel was of the near collapse of Brexit talks. Some punchy Downing Street briefings spoke of the “near impossibility” of finding a deal, while senior EU figures talked about “the blame game” that was upon us. And yet, last night, Johnson and Varadkar told reporters that their three-hour private talks were “very positive and very promising.” Crucially, the Irish Taoiseach said he was now “convinced” that Johnson wants a deal. This dampens the theory, popular among the PM’s critics, that he wants a no-deal exit or at the very least wants to fight an election on the PARTIALLY blind Paralympian James Brown helped cause two flight cancellations by lying on top of a British Airways plane in a day of protests at London City Airport yesterday. More than 100 Extinction Rebellion protesters turned out to create chaos at the promise of a hard Brexit to come. This morning, Brexit secretary airport, which included members forming road blocks. City Airport said last night all protesters had since left the premises. Stephen Barclay will meet the EU’s top negotiator Michel Barnier for formal talks. This is an encouraging sign, as the two sides wouldn’t sit down together if the legwork hadn’t already been done. UK negotiators are increasingly frustrated by Barnier’s intransigence, which is why the Johnson-Varadkar Fed finalises its breakthrough last night was so significant. If Ireland can “see a path towards a deal” then it will be difficult for Barnier to say UK on course to he doesn’t feel like walking. Reports last night suggested that post-crisis rules Johnson had floated the idea of hammering out a swift free trade agreement between the UK and EU, rather than a fully- for US banks fledged Withdrawal Agreement. Take care of trade first, the theory goes, then work on the details. Such an agreement could dodge recession SEBASTIAN MCCARTHY see the removal of all tariffs on goods but would still leave the ALEX DANIEL @SebMcCarthy issue of customs checks unresolved. When it comes to customs — “Barring a vertiginous plunge in @alexmdaniel September’s figures, Britain’s econ- THE FEDERAL Reserve last night and the spectre of infrastructure at the border on Ireland — omy now looks set to post some confirmed a new set of rules that Johnson has limited political room for manoeuvre. If he loses ECONOMISTS breathed a sigh of relief growth in the third quarter.” will ease capital and liquidity the support of the DUP and the more pro-Brexit Tories, he’ll yesterday as the risk of a Brexit-fuelled A weak performance from the man- requirements for US banks. recession in the immediate future ap- ufacturing industry was in part be- In one of the most significant need to win over Tory rebels as well as a good chunk of Labour peared to ease, despite Britain’s econ- hind the monthly drop, while the TV rollbacks since the financial crisis, MPs. There are still plenty of obstacles on the “pathway” that omy shrinking 0.1 per cent in August. and film industry helped boost the the Fed is set to reduce the Johnson and Varadkar spoke of last night, but they do at least Observers had worried the effect of services sector. Manufacturing con- compliance burden and free up seem determined to try and pick way their down it. As Barnier Brexit uncertainty would push the UK tracted 1.1 per cent in the three funds for US Bancorp, Capital One into recession after GDP contracted months to August. and PNC Financial among others. likes to say, the clock is ticking, with just one week until the EU 0.3 per cent in the three months to Fuller said services’ growth “can- The changes aim to tailor Council summit. We will know very soon indeed whether it’s June. However, estimated GDP grew celled out the fall in manufacturing regulations more closely to the deal or delay. If a plan is hammered out, it could be a case of 0.3 per cent in the last three months, output and the stagnation of the con- riskiness of firms’ businesses. according to monthly data from the struction sector.” Large US banks will be divided delay before deal — given how little time remains before the 31 Office for National Statistics. The UK’s trade deficit was cut by into four categories based on their October deadline. It marks a pick-up in growth from £13bn to £4.6bn in the three months sizes and other risk factors. the previous monthly figures, which to August as the country imported Domestic banks with under had the economy grow just 0.1 per fewer goods and services. This was $700bn (£562bn) in assets would cent in the three months to July. mainly because imports fell £8.8bn to enjoy a degree of relaxed rules. Samuel Fuller, director of Financial £168.5bn, while exports increased The rules stem from bipartisan Markets Online, said: “Against all ex- £4.2bn to £163.9bn. However, on an legislation passed by Congress last pectations, the UK is on course to annualised basis the deficit widened year that rewrote parts of the 2010 Follow us on Twitter @cityam dodge a recessionary bullet. by £18.6bn to £50.4bn. Dodd-Frank financial reform law.
FINANCIAL TIMES THE TIMES THE DAILY TELEGRAPH THE WALL STREET JOURNAL US IMPOSES SANCTIONS ON WHAT THE BRITISH STARTUP SET TO THOMAS COOK SITE FEARS BANKERS SET TO DELIVER GUPTA BUSINESS FAMILY OTHER SEND ROVER TO THE MOON FOR OUTLETS NEAR HAYS ARAMCO VALUATION SOON The US government has imposed A small robot could soon lift Britain into Almost a tenth of the Thomas Cook Saudi Arabian Oil’s investment bankers sanctions on South Africa’s Gupta PAPERS SAY an exclusive club by landing on the stores snapped up by Hays Travel this could deliver, as soon as today, their business family and an associate over moon. Spacebit, a London startup week are within 100 metres of the final recommendations on the their alleged role in a vast corruption THIS focused on the “lunar economy”, independent travel agent’s existing valuation of the state-owned energy scandal linked to the former president, revealed plans yesterday to send the shops, raising the prospect of mass giant in an initial public offering, with Jacob Zuma. The Guptas allegedly stole MORNING rover in 2021. closures by Hays. the headline number expected to fall “hundreds of millions of dollars through well short of the $2 trillion (£1.61 trillion) illegal deals with the South African DISTILLERS FACING RUIN DOZENS OF OLDER BOEING targeted by Saudi Arabia’s Crown Prince government, obfuscated by a shadowy FROM TRUMP WHISKY LEVY AEROPLANES GROUNDED Mohammed bin Salman, according to network of shell companies and Ministers have been accused of failing Boeing suffered another blow as dozens people familiar with the matter. associates linked to the family”, the US to “properly defend” Britain’s economic more of its planes were grounded after Treasury said yesterday interests as Scotch whisky producers cracks were discovered in the wings. US INFLATION COOLED stake in Vice Media Group, according to brace for crippling US tariffs. Industry The structural damage was uncovered TOWARDS END OF SUMMER JAMES MURDOCH’S FIRM people briefed on the deal, as the leaders claim Johnson’s government is during inspections of older aircraft. It US consumer prices were flat in BUYS STAKE IN VICE MEDIA younger Murdoch son looks to make his “clearly preoccupied with Brexit” while comes as the US aircraft manufacturer's September, as a decline in energy and James Murdoch’s new holding own mark in media after the break-up dozens of distilleries face “a very real 737 Max fleet remains grounded amid used-vehicle prices held down broader company has agreed to buy a minority of his family’s entertainment empire. threat to growth, investment and jobs”. safety concerns after two fatal crashes. inflationary pressures. CITYAM.COM FRIDAY 11 OCTOBER 2019 NEWS 03 Barclays execs Both sides braced for crunch Brexit summit after optimistic comments CONTINUED FROM FRONT PAGE next week. announced an extraordinary sitting feared jail over Time is to be set aside either to session for MPs on Saturday 19 Downing Street sources have discuss a deal, or, as is more widely October – the day after the European suggested Monday will be their cut- anticipated, the details of a possible Council concludes, and the deadline off point for a deal. extension. for parliament to back a deal, as set The sides went away agreeing that The meeting comes in the wake of out by the Benn Act. respective officials, including European Union chief Brexit If the government fails to get deal, trial hears Johnson’s sherpa David Frost, would negotiator Michel Barnier’s approval for whatever it brings back continue to “engage intensively”. comments that the EU and the UK from Brussels, the law stipulates JAMES BOOTH it’s okay, right, because whatever we European Council president “are not really in a position where that Johnson must seek an extension @Jamesdbooth1 do… will not be related to this Donald Tusk is expected to draw up we are able to find an agreement”. to Article 50, to avoid a no-deal subscription agreement, but frankly the agenda for the summit early Earlier this week Johnson’s team Brexit. SENIOR Barclays bankers discussed we all know that whatever we enter their fears of going to jail as they into we are entering into in exchange scrambled to create a mechanism to for the subscription agreement,” pay extra fees to Qatar during a £2bn Boath said. fundraising in 2008, a court heard “Yeah that’s right. None of us wants yesterday. to go to jail here,” Kalaris said. Roger Jenkins, Richard Boath and “It ain’t worth it and apparently the Thomas Kalaris are standing trial at food sucks,” Boath said. the Old Bailey, accused of conspiracy “Yeah. No the food sucks and the sex to commit fraud by false representa- is worse,” Kalaris said. tion and fraud by false representation The prosecution said Barclays’ THE — charges they deny. lawyers then raised concerns about The prosecution alleged that the the proposed deal and whether the accused cooked up a phoney advisory ASA was being entered to pay extra services agreement (ASA) to pay Qatar fees to Qatar. an extra £322m in fees that it wanted “While the lawyers were in a in exchange for its participation in the position to raise concerns about what emergency share subscription. Such was going on, and did so, it was the fees were not on offer to other executives who knew the true posi- participants. tion, namely that the ASAs were a The court heard a recording of a device to allow the Qataris to be paid a telephone call between Boath and fee at a greater commission than that Kalaris as they discussed how to being offered to other investors,” a present the transaction to Barclays’ barrister for the Serious Fraud Office in-house lawyers. told the court. DEAL “He [Barclays’ lawyer] might say The trial continues. ALL
SOUNDING THE HORN Renault boss slams 553e FOR JUST J J his exit as a ‘coup’ ahead of board meeting £5*
WHILST STOCKS RENAULT chief Thierry Bollore denounced his potential exit from the French car LAST maker as “a coup” yesterday, ahead of the firm’s board meeting today. “The brutality... of what is happening [is] stupefying,” he told Les Echos in an interview. Snap reduces overseas losses as
553e Lenses lead to doubled revenue PO
EMILY NICOLLE $403.7m last year from $203.6m. *Deal includes any 2 Co-op Pizzas (Double Pepperoni and Margherita only) @emilyjnicolle Tools include Snap Ads and and 1 tub of Ben & Jerry’s Ice Cream (see in store for details). sponsored content, such as sponsored SNAPCHAT parent firm Snap has versions of Geofilters and its popular narrowed its international losses, as augmented reality Lenses. sales from advertising and its Filings published on Companies Visit nisalocally.co.uk to find your nearest store Spectacles gadget doubled. House yesterday also showed the THE Its UK-based entity, which manages company splurged $7m in research, all territories outside the US, development and engineering and look out for ‘The Big Deal’ icon DEAL reported a loss of $312.8m (£284.1m) outside the US last year, more than $OORƨHUVDUHVXEMHFWWRDYDLODELOLW\$OOSULFHVDUHFRUUHFWDWWKHWLPHRIJRLQJWRSUHVV1%6RPHYDULDQWVPD\QRWEHDYDLODEOHLQVRPHVWRUHV in 2018, down from $447m a year doubling 2017’s $3.4m. DQGVRPHRƨHUVPD\YDU\DFURVVDOOVWRUHV:HUHVHUYHWKHULJKWWROLPLWSXUFKDVHV$OOKDOISULFHDQGUHGXFHGSULFHVDYLQJVDUHDJDLQVW1LVD earlier. It follows a buoyant set of quarterly UHFRPPHQGHGUHWDLOSULFHVDQGPD\GLƨHULQVRPHVWRUHV Meanwhile revenue, which Snap results from the parent group in July, Offer available from 09/10/2019-29/10/2019 said is “substantially” created by sales having boosted user numbers and of its advertising products, rose to revenue as new Lenses took off.
CITYAM.COM FRIDAY 11 OCTOBER 2019 NEWS 05
UP IN THE AIR Boeing and Porsche sign a memo to enter luxury air mobility market Outsourcers told No-deal tariffs Gove EU exit is stalling sector threaten Nissan ALEX DANIEL @alexmdaniel WHITEHALL has come under pressure from some of its leading public service providers for slow business model decision-making amid no-deal Brexit planning. ANNA MENIN model of Nissan in Europe will be in Sources with knowledge of the @annafmenin jeopardy,” he said. matter told City A.M. de facto no- “If there will be a no-deal — and a no- deal Brexit secretary Michael Gove TARIFFS introduced in the wake of a deal will be associated with WTO tar- BOEING and Porsche said yesterday the two car makers signed a joint memorandum has been urged to “get a move on,” no-deal Brexit would make Nissan’s iffs application — that won’t be to explore the premium air mobility market and the potential for extending urban so more work can be handed out. business model in Europe unsustain- sustainable for us,” de Ficcy added. traffic into space. They made clear the talks are only in the concept phase. At a meeting last month, Gove able and put the future of its Sunder- Nissan made almost one in three of asked for bosses’ thoughts on land plant in jeopardy, the car maker the 1.5m cars produced in Britain last preparations for leaving the EU. has warned. year, and supports 30,000 jobs in They told him frenzied Brexit Nissan’s European chairman, Gian- Britain. The car maker has spent planning — at the expense of the luca de Ficchy, said the imposition of £100m on investment in its new Juke normal running of government — World Trade Organization (WTO) model, which is due to begin produc- PM petitions FTSE 100 bosses to was a thorn in the industry’s side. tariffs of 10 per cent on vehicles tion next week. This is in part because it has would threaten “the entire business De Ficcy said Nissan was “asking not significantly slowed the pace of model of Nissan in Europe”. to have tariffs being applied in a no- back him over Brexit agreement contract awards, City A.M. The Japanese firm uses the Sunder- deal scenario because otherwise the understands. land plant as a base for its European tariffs won’t be sustainable for us”. SEBASTIAN MCCARTHY near, according to Sky News. One source said: “Nothing is operations, but de Ficchy told Assistant secretary general of the @SebMcCarthy Sources told the broadcaster that functioning properly because reporters yesterday that Britain leav- Unite union, Steve Turner, said the “a substantial number” of the procurement is stuck in the mud ing the EU without a deal would government “would be reckless to TOP BUSINESS bosses have reportedly country’s biggest companies had on one issue — Brexit.” make it impossible for the car maker dismiss this worrying no-deal Brexit been urged to support Prime Minister been contacted. A Cabinet Office spokesperson to continue this model. warning from Nissan”. Boris Johnson’s Brexit compromise A government spokesperson said: said the department held “regular “If we are in a situation in which to- “However workers voted in the 2016 deal in public. “We have been speaking to meetings with a wide variety of morrow we will have to apply 10 per referendum, they did not vote to Downing Street advisers have been businesses of all sizes every day to business leaders to discuss any cent export duties to 70 per cent of sacrifice their jobs. They are holding calling on FTSE 100 chiefs to back encourage each of them to prepare issues or concerns they have” our production, the entire business their breath,” he added. his deal as the Brexit deadline draws for Brexit on 31 October.” regarding Brexit preparations.
Autumn Sale now on Order now for guaranteed Christmas delivery Plus extra savings on all ranges ends Monday Choose from over 60 exclusive designs & 1000s of fabrics, each handcrafted to order in the UK. Call free on 0800 2300 048 or discover our full range and your nearest shop at sofaworkshop.com
* Autumn Sale excludes clearance, non Sofa Workshop fabrics, parts and optional fabric/leather protection. Sofa shown is Eden medium sofa in Dusky Airforce Blue. Guaranteed Christmas delivery subject to fabric availability at time of ordering. Delivery charges apply and vary subject to access/destination. Extra savings end 14.10.19.
CITYAM.COM FRIDAY 11 OCTOBER 2019 NEWS 07 Online cosmetics firm Cult Beauty hires advisers to mull potential sale JESS CLARK established the platform in 2008 to and operating profits remained flat @jclarkjourno offer high-end beauty products from at £3.7m. brands such as Benefit, Charlotte “Performance since year end has ONLINE cosmetics business Cult Tilbury and Nars. seen continued revenue growth, Beauty is said to have hired advisers In the event of a sale, the founders albeit at a lower percentage growth to explore a potential sale of the and Cult Beauty’s external investors rate than recent previous years, as company. could decide to sell some rather expected and forecast by the board,” The firm, which is one of the UK’s than all of their shares. the company said. fastest-growing online beauty The formal process is not yet However, Cult Beauty’s valuation businesses, has appointed JP Morgan underway, according to Sky News, is expected to reach hundreds of to explore its options, Sky News and any transaction would probably millions of pounds due to its strong reported yesterday. not take place until next year. growth potential and a demand for Co-founders Jessica De Luca and The website’s sales almost doubled high-quality consumer businesses former model Alexia Inge to £68.9m in the year to May 2018, among investors. Cult Beauty was co-founded by former model Alexia Inge Lenders agree N Brown back in a £50m surplus for Debenhams black with focus JESS CLARK @jclarkjourno DEBENHAMS has secured an extra £50m from its lenders to support the struggling department store through on UK company the crucial Christmas trading period. The retailer last month JESS CLARK environment remains heavily promo- approached its investor consortium @jclarkjourno tional, but we are concentrating on — which bought the company out of continuing to improve our customer administration -— for the additional PLUS-SIZE retailer N Brown returned proposition and ensuring we operate financing, on top of the £200m to profit in the first half after closing as efficiently as possible.” secured in March this year. its international business and Earnings increased four per cent Debenhams chief executive strengthening its online offering. from £52m to £54.1m in the 26 weeks Stefaan Vansteenkiste said: “We are The retailer reported a statutory to 31 August. delighted that our investor profit of £18.8m, up 169.4 per cent Operating expenses declined 9.5 per The retailer reported revenue growth of 6.4 per cent in the first quarter consortium have reaffirmed their from a loss of £27.1m last year. cent due to a more targeted approach commitment to the business by Digital sales now account for 84 per to marketing and the closure of making available additional cent of product revenue as the brand physical stores. Homeware retailer Dunelm sees financing support for our peak continues the managed decline of its However, group revenue fell 5.4 per trading period. bricks-and-mortar store portfolio, the cent to £432.9m and net debt was up “We are in a strong position to company said in its half-year report 14.5 per cent to £481.6m. continue to invest in marketing and yesterday. The company announced an interim shares sink despite sales growth new product initiatives as we The owner of Simply Be and Jacamo dividend of 2.83p, flat on last year. prepare for the important Christmas closed down its international division Russ Mould, investment director at JESS CLARK that the retailer’s strong season.” to invest in its core UK market, where AJ Bell, said: “Cynics may argue that @jclarkjourno 10.37 performance so far this year has The company is currently it relaunched its social media strategy. revenue is still falling, net debt is already been priced into the market. implementing a restructuring plan Steve Johnson, chief executive, said: rising and the dividend is not grow- SHARES in Dunelm dropped The homewares store also warned after defeating a legal challenge to “We announced our new strategy in ing. However, there is a sense that as much as 11 per cent that the weakening pound could the proposals backed by Sports May to return N Brown to sustainable Johnson has quickly stabilised the yesterday despite reporting growth in have a negative effect on margins Direct founder Mike Ashley that profit growth and we have made good business and put it on a stronger foot- the first quarter, following a string of towards the end of the financial could have seen the arrangements progress over the first half of the year. ing to fight back.” positive trading updates this year. year. However, the company said it unravel. “In particular, we have delivered on He added: “There are still plenty of Total like-for-like revenue grew 6.4 remains confident in its ability to The plan — a company voluntary our strategy of growing digital rev- challenges to overcome, including a per cent to £255.6m, with a 34.7 per capture market share and said arrangement (CVA) — will see the enue across Simply Be, JD Williams, reduction in relatively large levels of cent increase in online sales. In-store expectations for the year are retailer shutter 50 stores and seek Jacamo and Ambrose Wilson. bad debt. A fairly chunky part of its revenue was up 2.9 per cent to unchanged despite “increased rent reductions at around 100 “This has been achieved by taking a profit comes from financial services £219.9m. political uncertainty”. branches. More than 80 per cent of more targeted approach to marketing and so it needs to reduce the risks as- Analysts said the share price Shares closed down 10 per cent creditors backed the CVA proposals and customer recruitment. The retail sociated with this source of earnings.” slump could be attributed to the fact yesterday. when the firm was taken private.
EATING UP PROFIT Business rates take a ‘Nest egg’ fund wins £50,000 prize bite out of 2018 earnings at Pret a Manger SANDWICH chain Pret a Manger suffered a slump in in free market policy competition profit last year due to business rate SEBASTIAN MCCARTHY individual so-called nest egg funds would ensure lifetime learning, as increases and @SebMcCarthy proposal. Under the proposed new the £20,000 “doesn’t need to be used ongoing political policy, students and universities at age 18, and encourages more uncertainty. A £50,000 free market prize has been “would gain from a liberalised risk- competition among educational Turnover increased awarded to the authors of a new sharing pricing system that makes institutions, which would rely on from £636.9m to report which has proposed allowing them partners — working together to post-graduate income payments and £710m, but universities, rather than government, improve graduates’ career therefore become more invested in operating profit to lend to their students. prospects”. their students’ long-term success”. dropped from Researcher Peter Ainsworth and “Without costing the government The authors have estimated the £57.9m to £19.6m academic economist Dr Tom a penny in additional expenditure move would free up the £10.6bn that in 2018. McKenzie have been named the EDegg provides a nest egg of £20,000 government loses on student loans winners of the Institute of Economic for each 18-year old,” the IEA said. and the £2.7bn collected by the Affair’s Breakthrough Prize for their The authors argue that the policy Apprenticeship Levy. 08 NEWS FRIDAY 11 OCTOBER 2019 CITYAM.COM
EDITOR’S NOTES News and views from the City, Westminster & beyond CHRISTIAN MAY @CHRISTIANJMAY [email protected]
Taking a stand is easy £ Earlier this week I chaired a JURY DUTY panel at Schroders which THE JUDGING breakfast discussed “connected cities in when it doesn’t cost for the annual City A.M. a disconnected world.” The Awards is always a premise of the event, which you anything highlight of my year as had been arranged by the some of the biggest Financial Services livery OWNING Street is busy trying supportive of the trans-rights names in business give company, was that while all Dto get FTSE chiefs to sign a movement. “I think you really do up a couple of hours to the tools of global business letter in support of the have to stand for something,” said thrash out the winners. are focused on collaboration, government’s Brexit position, the NBA’s commissioner, Adam There is a genuine debate politics and international whatever it may be. Enthusiasm is Silver. Hear, hear. around the table with relations are going in the apparently in short supply, and Last week, one of basketball’s City heavyweights opposite direction. This could who can blame business leaders biggest names (Daryl Morey, offering their views and have led to a rather gloomy for steering clear of this polarising manager of the Houston Rockets) expertise as we work our conversation but in fact it was topic? In this day and age, publicly tweeted: “Fight for freedom, stand way through the uplifting as we discussed backing Boris Johnson will trigger with Hong Kong.” Hardly an categories and nominees. innovation, progress and the a Twitter campaign to boycott incendiary statement, but US Winners will be revealed power of markets and trade your company and a protest basketball is big in China — and at our celebration on to break down barriers, over outside your office. big business. China reacted to 7 November. time, even as politicians seek Some issues are less divisive, or Morey’s tweet by dropping NBA to erect them. In the spirit of at least felt to be so, and corporate games from TV and tearing up this optimism I’ll share with leaders are more comfortable lucrative marketing deals. The £ Nobody should be surprised to and actual front doors should be CAN I QUOTE YOU ON THAT? you a delightful Twitter weighing in. Take, for example, the NBA, whose boss was so keen on learn that if a residential the norm and not an architectural thread that I came across on issue of gender-neutral toilets, “standing for something” two development is attractive, local luxury. A new social housing my way back from the event, about which America’s National years ago, fell to its knees and support for it increases. High- scheme in Norwich that fits all of in which someone had asked Basketball Association (NBA) felt begged China’s forgiveness for density and high-rise schemes are that criteria has just won the “what’s something the UK is so strongly in 2017 that it refused Morey’s “deeply offensive” tweet. common in the capital but outside prestigious RIBA Stirling Prize for I’m a f**king idiot actually quite good at, in an to take its annual festival to North Standing up for trans-rights was London, where the need for new Best New Building. Goldsmith understated way?” There Carolina, where the state free, but standing up for freedom housing is no less pressing, Street has been praised as a were hundreds of replies, legislature has been less than was going to cost them. planners and developers should “modest masterpiece” – featuring Court documents revealed Elon including: retail banking, think much more creatively. The as it does rows of two-story houses Musk’s admission to a PR dairy products, Ordnance £ The City of London Corporation last night passed a motion expressing campaign group Create Streets has with gardens, community spaces adviser at the height of his Survey maps, dry stone walls, the City’s “full and unequivocal support” for the judiciary and deep concern been a powerful advocate for the and remarkable levels of energy bizarre and defamatory chemists, Christmas, “at repeated attacks on the independent judiciary by figures in the media old-fashioned idea that housing efficiency. It should set the campaign to brand a British museums, comedy, pubs, and public life”. Interestingly, the motion did not pass unanimously which designed with people in mind, standard for housing cave-rescue diver a paedophile breakfast, bridges and crisps. means not everyone at the Guildhall has fallen into line behind the judges. featuring streets, squares, trees developments across the UK. CITYAM.COM FRIDAY 11 OCTOBER 2019 NEWS 09
RUNNING FOR GOLD Official Virgin London Marathon partner on the hunt for runners Merian Global Investors hit out LEARNING disability charity Mencap is on the lookout for marathon runners willing to take up its banner at next year’s race. If you don’t already have a spot, get in makes its first touch with [email protected] to apply for one of its Gold Bond slots. acquisition deal at Hargreaves in ANNA MENIN @annafmenin MERIAN Global Investors said yester- day it has agreed to acquire Kestrel Investment Partners’ multi-asset Woodford saga business, in its first acquisition since its management buyout from Old SEBASTIAN MCCARTHY day that it had grown assets under Mutual in June last year. AND ANNA MENIN administration to over £100bn at 30 The acquisition will boost Merian’s @SebMcCarthy @annafmenin September. £26.4bn of funds under management Hargreaves Landsown’s share price with Kestrel’s $151m (£123m). HARGREAVES Lansdown suffered a dropped 2.11 per cent to 1,778.14p on Kestrel’s entire multi-asset team grilling at its annual shareholder the news, marking the lowest price in will join Merian, including John meeting yesterday as it faced scrutiny over six months. Feud over City watchdog remit Riccardi – the joint chief executive for its ties to under-fire stockpicker and co-founder of Kestrel. Riccardi Neil Woodford. ANNA MENIN but the government yesterday will report to Merian chief executive Small investors raised concerns with HARGREAVES LANSDOWN declined to adopt the proposals. Mark Gregory, the firms said. P @annafmenin the company following its promotion 1850 Catherine McKinnell MP, interim “The Kestrel multi-asset team’s of Neil Woodford’s Equity Income THE GOVERNMENT has been chair of the TSC, called the decision proven process is hugely compelling and I’m delighted that we’ve signed fund before it was suspended. 1800 criticised for refusing to back a policy “disappointing”. Christopher Jenkins, a private that would allow the Financial Charles Randell, the FCA’s chair, an agreement to secure its best- investor, told executives at the meet- Conduct Authority (FCA) to had told the TSC he was “personally in-class business,” said Gregory. ing that “the reaction to the 1750 10 Oct recommend changes to its remit. very unhappy… with the complexity Riccardi said Merian was “an ideal Woodford suspension to my mind has 1,778.14 The Treasury Select Committee and perimeter of regulation” and it home for our ambitious team”. been poor in extremis”, according to 1700 (TSC) had recommended in August was “not clear to consumers where Merian did not disclosed the terms the FT. the FCA be given the formal power they leave protection and where of the deal, which is expected to The investment platform said yester- 4 Oct7 Oct 8 Oct 9 Oct 10 Oct to recommend changes to its scope, they remain within it”. close in December.
Assembly offers PM new deadline for latest Jennifer Arcuri inquiry response STEFAN BOSCIA with businesswoman Jennifer letter was marked as confidential. @Stefan_Boscia Arcuri, in a document marked “not Duvall set a deadline of Monday at for publication”. 5pm for the Prime Minister to THE LONDON Assembly yesterday The assembly had also requested provide the assembly with an gave Prime Minister Boris Johnson a details of the Prime Minister’s answer. deadline of next Monday to explain correspondence with Arcuri while The probe concerns £126,000 of why it cannot publish his response to he was mayor, which it added was funding awarded to Arcuri while corruption allegations. not included in the final response. Johnson was mayor of London. A Number 10 representative Len Duvall, chair of the London Johnson and Arcuri were friends delivered an answer to the assembly Assembly oversight committee, when she received the funding, with on Tuesday in response to an alleged yesterday wrote a letter to Johnson some reports claiming they were conflict of interest in his dealings demanding that he explain why the having an affair. Arcuri has refused to deny having an intimate relationship with the PM To create more energy We need bright ideas with fewer emissions, from everywhere.
10 NEWS FRIDAY 11 OCTOBER 2019 CITYAM.COM
PAINTER OF NOTE Bank of England rolls out new £20 featuring artist JMW Turner Opec considers London housing deeper oil cuts in 2020 plans market drops in ALEX LAWLER A DEEPER cut in oil supplies is among options for Opec and its allies to consider in December, its secretary general said yesterday as shambolic year the producer group’s forecasts pointed to slower global growth JOE CURTIS 0.4 per cent in the three months to and lower demand next year. @joe_r_curtis the end of September, versus a 0.4 per Opec, Russia and other cent decline in the three months to producers in an alliance known as LONDON house prices fell at their the end of June. THE BANK of England launched a new polymer £20 note yesterday, featuring the Opec Plus, have since January fastest rate since the financial crisis in Paul Smith, economics director at painter JMW Turner. The note, which is designed to be harder to counterfeit and implemented a deal to cut oil the third quarter, according to IHS Markit, which compiled the data, cleaner than its paper predecessor, will first be issued in February 2020. output by 1.2m barrels per day to Halifax. warned the UK housing market is still support the market. Homes in the capital saw their val- “fragile”. The pact runs to March 2020 and ues sink 1.7 per cent year on year, He said Brexit uncertainty is stoking the producers meet to set policy on their worst performance since au- fears for buyers and sellers alike. 5 to 6 December. tumn 2009. Meanwhile south east “Despite the low mortgage rate “The conference will take house prices dropped 1.3 per cent. environment and rising earnings Ulez must include all of London, appropriate, strong, positive UK house prices grew at their slow- growth helping to ease affordability decisions that will set us on the est rate in six-and-a-half years in the constraints, UK-wide house price path of heightened and sustained third quarter of 2019, the bank’s inflation sank to a six-and-a-half year says Green leader in mayor bid stability for 2020,” Mohammad house price index showed. low,” Smith added. Barkindo told reporters at a The value of British homes rose just “We suspect that political and eco- STEFAN BOSCIA ensure drivers contribute more to briefing in London. 1.5 per cent year on year in the third nomic uncertainty associated with @Stefan_Boscia London’s transport budget. “All options are open,” he said, quarter, a drop from 1.8 per cent in Brexit continues to weigh on the Speaking at a London Chamber of when asked about the prospect of a the previous three months, at its market. This is especially the case in... THE ULTRA low emissions zone (Ulez) Commerce and Industry event, Berry deeper oil supply cut. worst quarterly increase since the London, at the fastest rate since the charge will be levied on drivers across said this would include charging a Oil prices have failed to gain a start of 2013. height of the financial crisis.” the whole of London if Green Party Ulez levy on all London drivers. lasting boost from supply That left the average UK house price Still, London house prices remained co-leader Sian Berry becomes mayor. A spokeswoman for mayor of disruptions this year, including the at £233,808, a drop from the second above £480,000, almost £160,000 The mayoral candidate said London Sadiq Khan said his current attack last month on Saudi Arabian quarter average of £234,026. more expensive than prices in the yesterday she wants to radically alter policies would see London reach its oil installations that halted half the Quarter to quarter, house prices rose south east. the current road pricing system to clean air target by 2025. country’s oil production. Reuters Like solar farms We see possibilities that fl oat. everywhere. Lightsource BP, already Europe’s largest solar company, is expanding its large-scale solar capacity across the globe. It’s one more way BP is working to make energy cleaner and better.
CITYAM.COM FRIDAY 11 OCTOBER 2019 NEWS 11 £10m in Brexit Hopes for truce prep grants to be handed out as Chinese and ANNA MENIN @annafmenin THE GOVERNMENT is to issue £10.1m in grants to 124 business organisations to help them prepare US kick off talks the firms they represent for the UK’s departure from the European SEBASTIAN MCCARTHY with China. They want to make a Union on 31 October. AND JAMES BOOTH deal, but do I?” The grants will be issued by the @SebMcCarthy @Jamesdbooth1 The talks are taking place against a Business Readiness Fund, which difficult backdrop after the two world was launched to support trade HIGH-LEVEL trade talks between the leaders traded barbs earlier this week. associations and other business US and China resumed last night as On Monday the US commerce organisations in helping firms the world’s two largest economies department blacklisted 28 Chinese The £100bn project is currently under review due to mounting costs prepare for Brexit. looked to end a tit-for-tat tariff war. technology and surveillance firms Organisations had been invited Hopes of an end to the escalating and security bureaus over human to bid for funding from the £15m conflict have been mounting after a rights violations of Muslim Uighurs pot — not all of which has been Chinese delegation arrived in Wash- in China’s restive Xinjiang province. Potential loophole gives way to awarded. City A.M. understands it is ington yesterday to hold trade talks Charalambos Pissouros, a senior likely not all of the money will be with their US counterparts. market analyst at JFD Group, said: used. US President Donald Trump has “There are still chances for a prelimi- possible HS2 conflicts of interest The Federation of Small Business revealed that he is set to meet Chinese nary deal this week, but the recent and the British Chambers of vice premier Liu He, the country’s top developments suggest that those STEFAN BOSCIA rail project, including former HS2 Commerce are among the trade delegate, today. chances have lessened.” @Stefan_Boscia chief executive Simon Kirby. organisations to have received Liu He is also meeting US trade rep- Fawad Razaqzada, a market analyst However HS2 is exempt from grants through the scheme. resentative Robert Lighthizer and at Forex, added: “Evidently, it looks DOWNING Street is being urged to having to register the appointment of The Confederation of British Treasury secretary Steven Mnuchin like investors are positioning them- close a route that could allow former former ministers and senior officials Industry (CBI) — one of the for talks ahead of a scheduled 15 selves for a potentially favourable HS2 rail executives to become to the Advisory Committee on country’s most prominent business October tariff rate increase on $250bn outcome in trade talks. consultants on the project without Business Appointments (Acoba), associations — did not apply for a (£201.4bn) worth of Chinese goods. “Donald Trump tweeted that China the usual vetting procedures. according to the Financial Times. grant. A CBI spokesperson said it Trump fuelled further speculation wanted to make a deal, but kept in- A number of former executives Nichols Group said Kirby has not has “been helping its members over a possible deal after tweeting vestors guessing as to whether he currently work at consultancy firm worked on the project since he left prepare for a potential no deal exit yesterday: “Big day of negotiations would agree to any arrangement.” Nichols Group which advises on the HS2 in 2016. from the EU for many months”. 12 NEWS FRIDAY 11 OCTOBER 2019 CITYAM.COM Barclay brothers mull The Ritz Hotel sale after receiving offer of £800m JESS CLARK former son-in-law, has been argued the bids undervalued the appointed to help them weigh up business. @jclarkjourno potential options for the 113-year-old According to the hotel’s latest DAVID and Frederick Barclay, the hotel after a number of offers in the financial filings, profit before tax billionaire brothers that own The region of £800m were received, the almost halved from £12.8m to £7.9m Ritz, are reportedly mulling an Times reported. last year while turnover increased £800m sale of the five-star Mayfair The Barclay family has reportedly from £46m to £47m. hotel. received numerous offers for the Meanwhile the casino business, The twin brothers, who also own prestigious central London hotel, which operates out of the Piccadilly the Telegraph newspaper and which has hosted famous names hotel’s basement, reported a total Spectator magazine, bought the such as Charlie Chaplin, Jackie loss of £10.4m in 2018, an Grade-II listed building for £75m in Onassis and Sir Roger Moore in the improvement on the £11.7m lost in 1995. past. 2017. Turnover dropped from £21.3m Richard Faber, Frederick Barclay’s However, they have previously to £17.6m . The 113-year-old Ritz Hotel in Piccadilly could be sold for a whopping £800m Sunrise’s deal Danske Bank in too expensive, adviser rules hiring freeze to OLIVER HIRT PROXY adviser ISS recommended shareholders vote against a rights issue that will allow Sunrise Communications to finance a fund scam costs SFr6.3bn (£5.15bn) purchase of cable operator UPC from Liberty ANNA MENIN €200bn (£180bn) of payments through Global , in a report sent to clients its Estonian office, many of which the yesterday. @annafmenin bank said were suspicious. Opposition to the deal has been DANSKE Bank has initiated a hiring The former head of Estonia’s finan- growing, with a Reuters survey freeze on non-critical positions in a cial regulator recently hit out at showing owners of at least 30 per bid to meet rising compliance costs Danish authorities for not having cent of Sunrise shares, including related to its involvement in a money spotted the extent of the problem at German group Freenet, are set to laundering scandal. Danske Bank. reject a SFr2.8bn equity issue at an “The hiring freeze comes after we’ve “The Danish FSA [Financial The German travel firm will hire former Thomas Cook pilots and cabin crew extraordinary shareholder meeting seen higher compliance costs and Supervisory Authority] took a view on 23 October. costs related to our anti-money laun- that it is not a very serious problem, Sunrise needs a simple majority dering efforts,” a spokesperson for the and the same applied to Danske’s to back the equity issue, which has Danish bank said. main office in Denmark,” Raul Tui picks up Thomas Cook slack been scaled back from SFr4.1bn, “This is part of our ongoing focus on Malmstein told the BBC’s Today although the debt component has costs, as we, like all other banks, are Programme. risen. challenged by low interest rates and Malmstein’s comments were made by adding 10,000 new EU flights “On balance, Sunrise appears to low margins,” he said. shortly after Aivar Rehe, the former be overpaying for assets in a The hiring freeze would not include boss of Danske Bank in Estonia, was STEFAN BOSCIA Newcastle and Glasgow. transaction that appears to have critical positions such as regulatory found dead near his home in Estonian A lot of the flights will go to debatable long-term strategic jobs, the spokesman added. capital Tallinn. @Stefan_Boscia destinations that were also regularly merit. As such, shareholders are He did not comment on how much The bank was subsequently forced to EUROPE’s largest travel company will covered by the collapsed UK travel recommended to vote against the the bank would save on the hiring close its Estonian branch in the wake fly up to 2m more passengers in 2020 company, such as Spain, Turkey, transaction at this time,” ISS said in freeze or how long it would be in of the scandal. Danish prosecutors with the help of former Thomas Cook Egypt, Mexico and Florida. a document seen by Reuters. place. filed four preliminary charges in staff. Tui Airways managing director “Our valuation analysis suggests The bank said in February it would November 2018. Tui Airways has announced it will Dawn Wilson told The Independent a fair value range of SFr4.6bn to spend up to 2bn Danish crowns As a consequence of the money laun- add an extra 10,000 flights next year that 50 former Thomas Cook Sfr5.2bn (enterprise value) for UPC (£241.m) to step up anti-money laun- dering scandal, Danske Bank by hiring former Thomas Cook pilots captains will be hired. on a standalone basis if its dering efforts, such as improving IT was named as 2018’s most corrupted and cabin crew. British Airways and Jet2 are also performance were in line with that systems and hiring compliance staff, actor by the Organized Crime and The German travel company will expected to increase their capacity of peer cable operators,” ISS said, after the bank became embroiled in a Corruption Reporting Project. a base many of these flights out of by moving into routes that have adding that operational difficulties major money laundering scandal. consortium of investigative centres former Thomas Cook strongholds, been abandoned by Thomas Cook’s including made the SFr6.3bn bid It said last year it had channelled in eastern Europe. including Manchester, Birmingham, collapse. appear excessive. Reuters
CASH OR CREDIT City brokerage Arraco raises £30,000 for Cancer Research UK Ireland sells €2bn of green bonds at lower yield than last year’s debut
PADRAIC HALPIN €3bn from its initial sale a year ago. demand from a year ago. Ireland sold the then debut 12-year Although green bonds make up a IRELAND raised €2bn (£1.8bn) green bond at a yield of 1.4 per cent fraction of the overall market, global yesterday from the sale of green but with bond yields tumbling interest has soared as banks, bonds at a yield well below a debut further in the last 12 months, sovereigns and companies look to tap sale a year ago, highlighting the yesterday’s sale was priced at 24 basis into increasing investor appetite as growing popularity of the bonds points over mid-swaps, a spokesman calls grow for tougher and swifter which provide cash for projects with for the country’s debt office said. steps against climate change. environmental benefits. That equated to a yield of 0.229 per Ireland has now raised €14.25bn of ARRACO Global Markets yesterday raised £30,000 for Cancer Research UK at an event Dublin mandated a syndicate of cent, the spokesman said, adding its €14bn to €18bn bond sales target at its London headquarters. The company’s annual charity day sees the firm donate banks to tap its solitary green bond that Ireland had received €11bn for the year, with another auction 100 per cent of its revenues and commissions on a single day to charity. that matures in 2031, having raised worth of orders, a similar level of taking place next month. Reuters CITYAM.COM FRIDAY 11 OCTOBER 2019 NEWS 13 ADVERTISEMENT FEATURE Boost R&D Motor insurance investment for future UK premiums sink success COMMENT Radeep Mathew in third quarter Head of Consulting, Leyton UK ALEX DANIEL in July and the FCA’s [Financial Con- duct Authority] interim report on @alexmdaniel general insurance pricing practices”. CAR INSURANCE premiums noted a “In particular, the FCA’s report iden- hile there is much disagreement slight dip in the third quarter of 2019, tifies a number of potential remedies, among politicians about the future as prices continued their trend of each of which will have some impact Wdirection of the UK as we approach fluctuating. on pricing decisions for insurers in Most over-75s will have to pay to watch BBC shows such as Strictly Come Dancing the Brexit deadline, one area of unanimity is Comprehensive premiums have the next few months.” on the need for a high skill, high wage econ- fallen by one per cent (£6) in the third The cost of comprehensive car omy. The only way to realise this is through quarter, according to data released insurance dropped in most UK re- the investment in innovation to improve today by Confused.com. gions, with three areas experiencing Government and BBC ‘must find profitability and productivity, ensuring that The average cost of car insurance is a quarterly decrease more than two UK companies lead the way. now £783, following a £23 increase per cent. The positive news is that the UK is blessed over the past year, representing a Drivers in central and north Wales, funding’ for over-75s TV licence with many of the foundations to make good three per cent rise. the north east of England and north in this new world. We have the right Data was based on 6m customer of England were best off with their JAMES WARRINGTON “bounce” the BBC into accepting combination of creativity and technical quotes. insurance premiums decreasing on measures that left it liable to fund brilliance that are the foundations for success Graham Wright of Willis Towers average three per cent to £632, three @j_a_warrington the benefit. in the knowledge economy. There are so Watson said: “The fluctuations in per cent to £679 and two per cent to MPs HAVE urged the government and The MPs also took aim at director many businesses pushing their industries premium levels seen across recent £706 respectively. the BBC to reach a funding general Tony Hall for his handling of forward with ideas and technologies, from quarters, although relatively minor, Male drivers aged between 17 and 20 arrangement to restore free TV negotiations, and criticised both renewable energy to dentistry and robotics. reflect the significant uncertainty in are still paying the most of any demo- licences for people aged over 75. sides for holding talks behind closed This is being driven by a vibrant start-up the industry at the moment”. graphic — although they saw their In a damning report released today doors. The committee said a funding culture which is the lifeblood of the economy. He said that had arisen “from both premiums decrease by four per cent — the Digital, Culture, Media and Sport model should be agreed in its next In order to realise this potential, continued the implications of the personal in- now paying on average £2,312 com- select committee slammed the round of negotiations with the BBC, investment in R&D will be required. The jury discount rate change announced pared to £2,398 three months ago. government of 2015 for trying to which is due to take place in 2021. figures released by HMRC today showing an increase in the take-up of R&D tax credits are encouraging. However, we need to see further and faster action to ensure companies really embed the innovation needed to future-proof their businesses. The reality is that the UK remains well behind Online laws should target large audiences, MP says many major advanced economies in terms of its investment in R&D. JAMES WARRINGTON something that people disagree with, content and push it to create the Facebook has come under scrutiny While there is strong awareness of the R&D it’s when someone is using the impression that this is a widely- amid concerns that Russia used the tax credits scheme amongst large @j_a_warrington architecture of social media held view, but it might only platform to influence the 2016 Brexit companies, awareness among SME’s NEW ONLINE regulation should be to deliberately push be a very niche one,” he referendum, a claim the social media remains patchy and inconsistent. If the based around the size of the audience reach.” said. firm has denied. Government wants to realise its goal to rather than the media format, a top It came as Collins, a The Tory MP said The Vote Leave campaign has also ‘double down on R&D’, as Boris Johnson MP has said. vocal proponent of faced criticism for its social media recently called for, there needs to be better Damian Collins, chair of the tighter online Collins called for tighter ads, which included false claims education and communication. We would Digital, Culture, Media and Sport regulation, warned regulation over social about Turkey joining the EU. also suggest further financial incentives as select committee, argued that anyone that much of the media posts In April the government outlined these will help foster a continuous culture of with a large social media following discourse on social plans to tackle online harms such as innovation in the participating companies, as should be held responsible for what media was not spread social media companies fake news and harassment. well as positively impacting the bottom line. they publish online. organically but rather should provide more Under the proposals, senior The UK is blessed with a combination of “The way to do that mostly is promoted by shady backers. information about who managers could be held personally creativity and technical brilliance that make looking into scale,” he told an “There are very wealthy controls popular online groups, responsible for breaches of the code, us ideally positioned for success in the future. audience in London yesterday. “It’s people that have funded campaign and should be made to step in when while social media firms would face To support innovation post-Brexit, not just that someone has posted groups that exist online to identify “known lies” are spread. fines or even blocking. Government will need to continue to invest. Brushing Alone is Not Enough
The Waterpik® Water Flosser is the easy and most effective way to clean between teeth.
The Waterpik® Water Flosser removes up to 99.9% of plaque from treated areas and is up to 50% more effective than string floss for improving gum health.
While brushing only cleans the surface, the Waterpik® Water Flosser cleans areas brushing misses, meaning you enjoy healthier gums, brighter teeth, and fresher breath in just a minute a daday!y!
Visit waterpik.co.uk to learn more and find stockists. CITYAM.COM FRIDAY 11 OCTOBER 2019 NEWS 15 Apple removes Hong Kong protest app that tracks police movements JOE CURTIS and ambush police, threaten public that mirrors the main app and acts safety, and criminals have used it to as a backup. @joe_r_curtis victimise residents in areas where A Twitter account associated with APPLE has deleted the HKmap.live they know there is no law HKmap.live’s developer said: “The app that allows Hong Kong protesters enforcement,” Apple said in a majority of user review[s] in App to track police movements from its statement to Reuters this week. Store … suggest HKmap improved App Store. “It said it had consulted with the public safety, not the opposite.” The tech giant said the app Hong Kong Cybersecurity and HKmap.live worked by collecting allowed protesters to ambush police Technology Crime Bureau before social network posts to identify in what have become increasingly making its decision. where protesters and police were violent clashes between authorities The iPhone maker also said it had located. and anti-government activists. investigated the app after “many Moderators removed any that HKmap.live only received approval concerned customers in Hong Kong” promoted criminal actions, the from Apple last week after first had contacted the firm. Twitter account said. being rejected, and worked by Apple said the app was a threat to HKmap.live said Apple’s move was crowdsourcing the locations of both law enforcement and Hong Kong “clearly a political decision to police and protesters. citizens. suppress freedom and human rights “The app has been used to target It also removed BackupHK, an app in #HongKong”. Protesters cover one eye in solidarity with a journalist blinded in one eye by police
ADVERTISEMENT FEATURE Rental American troops Revolution COMMENT Asks Kate Eales arrest British Isis National Head of Lettings
f there is one thing the real estate sector ‘Beatle’ fighters has in abundance, it is acronyms. From IMMC to PCL (Modern Methods of Con- JAMES BOOTH the US. They are the worst of the struction and Prime Central London if you worst!,” he said. are wondering!), it can be hard to keep up. @Jamesdbooth1 On Monday, Trump announced that One such catchphrase of the moment is US PRESIDENT Donald Trump yester- US forces would pull out of Syria, a This winter’s UK gas demand is expected to be slightly higher than last year’s Build to Rent. Relatively new to the UK prop- day said two British Islamic State (Isis) move that was labelled a “stab in the erty market, it is definitely an area to watch fighters known as “The Beatles” had back” by Kurdish forces who had been whether you are a prospective renter or an been taken into US custody in Syria. an ally of the US in the fight against investor. The pair, Alexanda Kotey and El Isis, as it cleared the way for a Turkish National Grid: Power supplies to Build to Rent is defined as a residential Shafee Elsheikh, are among a group of offensive on the northern border of rental development that has been built four British Isis fighters who were Syria. specifically to offer high quality nicknamed The Beatles by Western Turkish President Tayyip Erdogan last whole winter despite Brexit accommodation, managed centrally by hostages because of their accents. said the offensive aimed to eliminate one ‘landlord’ or company and longer, They are accused of being involved a “terror corridor” along the southern ALEX DANIEL flow throughout the winter. more secure tenure. The UK private rental in the beheading and torture of Turkish border. But in the unlikely event they fall market is going through a period of prisoners. Kurdish-controlled prison camps in @alexmdaniel to zero there is sufficient surplus sustained growth. The pair had been held by Kurdish Syria contain thousands of former Isis BRITAIN will have enough power power to meet demand. According to the British Property forces in Syria but have now been fighters and their family members and gas to see out the winter even National Grid has been under Federation (Jan 2019), the market taken into US custody following the and sympathisers. with Brexit, but could need regular scrutiny after a power outage in currently consists of 140,000 BTR units, start of a Turkish offensive against On Monday, Trump said that if supplies of liquefied natural gas August affected 1.1m electricity either completed, under construction or in Kurdish forces. Turkey did anything he considered (LNG). customers in Britain. planning. £15bn has been invested in BTR Trump tweeted yesterday morning: “off limits” he would “totally destroy The UK is set to leave the EU at “We anticipate no additional in the past 10 years, with an expectation of “In case the Kurds or Turkey lose and obliterate the Economy of the end of this month but the adequacy or operability challenges a further £50bn being invested by 2020 control, the United States has already Turkey”. terms are still unclear. for the coming winter as a result of (Rugg Report, 2018). For large pension and taken the two Isis militants tied to Trump also said Turkey along with National Grid, which operates the UK’s planned exit from the EU. insurance funds, it is easy to see why this beheadings in Syria, known as the “Europe and others” must “watch the UK power network, expects Our analysis shows margins that burgeoning sector is attractive: they have Beetles [sic], out of that country and over the captured Isis fighters and power links with Europe — called are sufficient” even in tricky the required capital to develop the flats. into a secure location controlled by families”. interconnectors — to continue to scenarios, the grid operator said. For institutional investors, the steady, long-term income is more than welcome in the face of uncertainty elsewhere. A growing group of people are actively choosing rental over home ownership and enjoying the flexibility it brings. In London alone, 30% of households live in private rented accommodation already and Trump leaks note on diplomat’s wife to stay put across the UK, the number of residents renting privately has doubled in the last JAMES WARRINGTON called for Sacoolas to return to conference on Wednesday night. going to speak to her and see what decade. Look to other parts of the globe Britain to face police. Speaking after a conversation with we can come up with so that there and you will quickly see that the BTR @j_a_warrington However, a card marked Prime Minister Boris Johnson, can be some healing.” provider is well established particularly in THE WIFE of a US diplomat involved “secret” instructed the Trump defended Sacoolas, The card also stated that Sacoolas the US where it is often referred to as in a car crash that killed a British US president to say saying it was difficult would have to consider whether to ‘multi family living’. teenager will not return to the UK to that she would not “driving on the opposite make herself available for These renters want well-maintained face justice, according to a note return to the UK. questioning by British authorities buildings with great services, communal accidentally shown by US President “If raised, note, as The PM had called on “based on the advice of her legal spaces, a sense of community and long, Donald Trump. secretary Pompeo Donald Trump to counsel”. secure tenancies. This does not mean Anne Sacoolas claimed diplomatic told foreign “reconsider” his position Dunn’s mother Charlotte Charles, that buying a house is not an aspiration immunity and fled the country secretary Raab, that who has repeatedly called for for the future but it does mean that for the following a head-on collision near a the spouse of the US side of the road”. Sacoolas to return to the UK, said new generation of military base that killed 19-year-old government employee “It was a terrible that no progress had been made. renters, customer motorcyclist Harry Dunn in August. will not return to the accident,” he said. “We’re “Part of me is feeling like it was experience and Downing Street has called on the United Kingdom,” read the going to speak to her and we’re just a publicity stunt on the UK flexibility is US government to “reconsider its note, which was snapped by a US going to see the person driving the government side to show they are everything. position” to grant immunity and photographer during a press car, the wife of the diplomat, we’re trying to help,” she said. 16 MARKETS FRIDAY 11 OCTOBER 2019 CITYAM.COM
CITYDASHBOARD YOUR ONE-STOP SHOP FOR BROKER VIEWS AND MARKET REPORTS LONDON REPORT BEST OF THE BROKERS NEW YORK To appear in Best of the Brokers, email your research to [email protected] REPORT
BABCOCK INTERNATIONAL P Recharged hopes 540 US-China talks 530 504.60 520 10 Oct boost Wall St 510 S STOCKS rose yesterday on for Brexit deal lift 500 Uhopes that top-level US-China trade talks would yield at least 490 a partial deal, while a jump in Apple’s shares also boosted the market. 4 Oct 7 Oct 8 Oct 9 Oct 10 Oct Top US and Chinese negotiators met yesterday for the first time since late UK shares at bell Defence giant Babcock International has been boosted by a recent government July to try to find a way out of a 15- pledge to increase defence spending, and the publication of a supportive month trade war. National Audit Office (NAO) report into the industry. Liberum analysts rate the After the bell, the S&P e-minis ONDON stocks finished a roller Spirits company Diageo, consumer company as “buy”, with a target price of 720p. jumped and were last up about one coaster session yesterday with goods giant Unilever and Astrazeneca per cent, as US President Donald gains as domestic companies were among stocks that were Trump said the talks with China went Lrose after Britain and Ireland hammered the most, causing the FTSE DOMINO'S PIZZA “very well .” said they saw a pathway to a 100 to lag other major indexes. Cyclical groups including energy, P Brexit deal, and international names Stocks vulnerable to a hit from 260 financials, industrials and materials jumped on to a global rally over hopes Brexit, on the other hand, overpow- were the day’s best-performing of a US-China trade truce. ered those losses. sectors, while the Dow Jones The FTSE 100 ended 0.3 per cent 250 transportation average jumped 1.3 higher, after flipping back and forth FTSE per cent. during the day on mixed signals over 240 Apple jumped 1.3 per cent after the state of affairs between Beijing and P Longbow Research upgraded the 7,250 248.90 Washington, while the mid-cap index, 230 10 Oct company's stock to "buy," citing whichhas a greater UK exposure, also 7,200 higher iPhone 11 demand. rose by the same level. The Dow Jones Industrial Average However, a more than one per cent 7,150 4 Oct 7 Oct 8 Oct 9 Oct 10 Oct rose 150.66 points, or 0.57 per cent, surge in sterling on renewed prospects 7,100 to 26,496.67, the S&P 500 gained of a Brexit agreement kept a lid on 7,186.36 Although Domino’s Pizza has a strong and proven base model, Peel Hunt analysts 18.73 points, or 0.64 per cent, to gains for the blue-chip bourse, which 7,050 10 Oct warn it will need to take a bigger bite out of the competition in the crowded 2,938.13 and the Nasdaq Composite earns a sizeable portion of its earnings delivery markert to stay on top. Analysts still want a slice of the company though, added 47.04 points, or 0.6 per cent, in the US dollar. 4 Oct7 Oct 8 Oct 9 Oct 10 Oct rating the firm as “add” with a target price of 300p. to 7,950.78. CITY MOVES WHO’S SWITCHING JOBS
LEO BURNETT social media specialism and brand experience output, which connects landlords to room-seekers using AI, of mergers and acquisition and capital raising. Cornelia Advertising firm Leo Burnett’s working with clients such as Next, Burberry, Mentos, from his position at Google, where he worked in the will be based in London and will report to Pradeep London office has appointed Burger King and Samsung. Prior to BBH she worked at photos, research and Google Pay departments. Menon, managing director of investing and advisory Carly Avener as managing McCann Erickson working on Microsoft, American Ezequiel said of his new role: “I have always been a (I&A). Cornelia joins Refinitiv from Blackstone, where director. In her new role, Carly Airlines and Co-op accounts. Charlie Rudd, chief product and goal-driven engineer. I had the luck to she was senior vice president, global head of research will be responsible for the day- operating officer at Leo Burnett London and Fallon lead a wide number of projects for Google that helped and market data, leading the firm’s market data and to-day running and operations London said: “I’m delighted Carly is joining us. From to hone the skill set I will bring to Badi. I enjoy closely business intelligence functions globally. As Refinitiv’s of the agency. She will be working together several years ago, I know she’s a collaborating with cross-functional teams and I’m new head of investment banking, Cornelia will lead the working with the company’s proper superstar. Her recent experience will ensure we looking forward to continuing Badi’s efforts to help ongoing investment in Refinitiv’s I&A franchise, existing clients such as get to ever better work, faster.” everyone live everywhere, now in an international including the build out of its teams and technological Iceland, McDonald’s, Betfair setting.” tools available to its banking customers. Pradeep and most recently Gulf Oil. BADI Menon said: “We are thrilled to welcome Cornelia to Carly has over 16 years’ experience in advertising. Most AI-driven room rental marketplace Badi has REFINITIV our investment banking team. She brings a wealth of recently, she worked as managing director of London announced the appointment of Ezequiel Cura as vice Financial markets data firm Refinitiv has announced industry experience and a deep understanding of the agency BBH, where she launched and ran the agency’s president of engineering. Ezequiel joins the company, the appointment of Cornelia Andersson as global head Investment banking workflow.”
To appear in CITYMOVES please email your career updates and pictures to [email protected] NEWS Dialling down: a quarter of mobile BT Mobile introduces 5G users make under five calls a month network in 20 UK cities JAMES WARRINGTON people spend chatting on the phone longer than Londoners, who came in JAMES WARRINGTON with a faster and more reliable con- has risen 12 per cent since 2012. second place with an average call time nection in high demand, crowded @j_a_warrington However, the big growth has been of just under five minutes. @j_a_warrington areas across the UK at peak times,” A QUARTER of mobile phone users in in data usage. Increased demand for “As the amount of time people BT HAS become the latest UK mobile said Marc Allera, chief executive of the UK make fewer than five calls per streaming and web browsing has spend on the phone decreases, the network to launch 5G, rolling out its BT’s consumer division. month, while six per cent made no driven average mobile data use up requirement to access the internet next-generation network in more “When combined with the best calls at all, new figures have revealed. from 0.2GB to 1.9GB per month — an whilst on the move to reach people than 20 towns and cities across the fibre, the UK’s fastest 4G network and Moreover, around 60 per cent of increase of 850 per cent. increases because consumers are country. biggest wi-fi network, BT is helping those people who did pick up the The report showed that data use more frequently opting to connect London, Birmingham, Cardiff and consumers and businesses stay con- phone ended the call in under 90 peaks between 5pm and 6pm, as with others through methods like Manchester are among the first loca- nected wherever they are and what- seconds. commuters look to catch up with Whatsapp, or Messenger,” said Rob tions to gain access to the network, ever they need to do.” The figures, which came in a report news and social media. Baillie, mobile comms expert at while BT aims to reach a further 25 BT Mobile will launch four 5G plans from regulator Ofcom, came from It also found that average call times Comparemymobile. towns and cities by the end of the year. on smartphones made by Samsung, analysis of roughly 150,000 Android were longest in Liverpool, where But Baillie called for greater The telecoms firm said its BT Plus Oppo, Oneplus and Huawei. phone users between 1 January and people spent almost seven minutes on investment in areas of the UK where and BT Business customers will be the The firm’s mobile service will use 31 March this year. an average call. people are unable to access mobile first to benefit from boosted speeds. the 5G network launched by sub- Overall, the number of minutes This was more than 40 per cent networks. “Our 5G service provides customers sidiary EE earlier this year. CITYAM.COM FRIDAY 11 OCTOBER 2019 MARKETS 17
FTSE 100 FTSE 250 FTSE ALL SHARE DOW JONES NASDAQ S&P 500 /€ 1.1302 0.0179 €/$ 1.1005 0.0032 7186.36 19235.72 3938.33 26496.67 7950.78 2938.13 /$ 1.2440 0.0235 €/£ 0.8843 0.0143 19.86 64.12 11.36 150.66 47.04 18.73 /¥ 134.27 3.0900 €/¥ 118.78 0.8560
Marshalls ...... 666.0 10.0 696.0 415.0 Euromoney Institu . . .1406.0 -12.0 1498.0 1132.0 Great Portland Es . . . . .729.8 2.0 773.6 649.4 Mitchells & Butle ...... 388.5 1.5 394.5 238.0 GILTS FINANCIAL SERVICES GAS, WATER & MULTIUTILITIES Reckitt Benckiser . . . .6175.0 -55.0 6747.0 5593.0 National Express . . . . .410.0 4.0 438.4 361.4 Polypipe Group ...... 389.2 8.2 453.8 307.8 Redrow ...... 592.0 8.0 674.6 460.8 Future ...... 1184.0 -18.0 1324.0 410.0 Hammerson ...... 274.8 6.7 447.3 203.9 Goco Group ...... 87.6 3.4 97.5 64.6 PPHE Hotel Group . . .1780.0 0.0 1990.0 1525.0 Tsy 2.000 20 ...... 101.03 -0.04 102.2 101.0 ELECTRICITY 3i Group ...... 1060.5 -11.5 1184.5 756.2 Centrica ...... 66.6 -1.4 155.6 64.6 Taylor Wimpey ...... 147.8 3.7 192.3 129.3 Land Securities G . . . . .839.2 11.4 936.0 735.4 Tsy 3.750 20 ...... 102.84 -0.05 105.6 102.8 3i Infrastructure ...... 279.5 0.0 306.5 241.3 National Grid ...... 870.8 -8.4 889.2 748.7 Haynes Publishing . . . .313.0 -7.0 324.0 160.0 Rank Group ...... 185.6 -0.8 195.0 135.0 LondonMetric Prop . . . .215.0 0.0 217.6 172.7 133.5 0.2 217.1 111.9 Tsy 4.750 20 ...... 101.65 -0.03 105.5 101.6 Contour Global ...... 177.0 -2.0 218.0 150.1 AJ Bell ...... 348.0 -15.0 477.0 220.0 Pennon Group ...... 821.4 21.2 832.6 684.2 INDUSTRIAL ENGINEERING Huntsworth ...... 85.4 1.4 118.5 81.0 Primary Health Pr . . . . .132.8 -1.4 139.8 106.4 Restaurant Group . . . . . Tsy 2.500 20 ...... 354.71 -0.03 360.9 354.5 Allied Minds ...... 49.0 -1.0 84.2 37.3 Hyve Group ...... 82.0 2.9 85.3 56.3 Stagecoach Group . . . . .132.9 0.7 177.0 115.5 Drax Group ...... 267.0 1.2 427.2 251.0 Severn Trent ...... 2122.0 9.0 2165.0 1770.0 Bodycote ...... 661.0 9.0 903.0 644.5 SEGRO ...... 796.0 -0.6 810.8 585.2 TUI AG Reg Shs (D . . . . .919.4 17.6 1382.5 698.0 Tsy 8.000 21 ...... 112.47 -0.10 118.7 112.1 ...... 1245.5 2.0 1257.0 1008.0 Amigo Holdings ...... 71.9 0.5 297.5 67.8 United Utilities ...... 791.2 -0.8 873.6 682.4 Informa ...... 785.6 -0.4 892.0 605.8 .867.5 9.5 928.5 739.5 SSE . . . . Hill & Smith Hold . . . . .1232.0 34.0 1306.0 902.5 Shaftesbury ...... Wetherspoon (J.D. . . .1474.0 -26.0 1624.0 1066.0 Tsy 4.000 22 ...... 108.73 -0.14 110.7 108.5 Arrow Global Grou . . . .212.8 1.6 273.0 167.2 IMI ...... 947.4 2.4 1069.5 870.0 ITV ...... 121.8 2.1 160.0 103.6 Tritax Big Box Re ...... 147.1 1.0 159.7 129.0 Tsy 1.875 22 ...... 116.18 -0.21 118.3 115.5 ELECTRONIC & ELECTRICAL EQ. ASA International . . . . .332.0 2.0 481.0 320.0 GENERAL INDUSTRIALS Moneysupermarket. . . .374.2 6.2 417.7 264.0 Whitbread ...... 4038.0 42.0 5114.0 3927.0 Melrose Industrie . . . . .194.9 4.7 208.5 146.3 Unite Group ...... 1099.0 12.0 1099.0 797.5 William Hill ...... 193.3 6.4 233.7 132.3 Tsy 0.500 22 ...... 100.40 -0.14 100.8 97.7 Halma ...... 1907.0 17.0 2094.0 1237.0 Ashmore Group ...... 459.2 -2.4 542.5 341.2 Smith (DS) ...... 341.2 3.8 418.2 292.2 Pearson ...... 694.8 -6.6 1027.5 694.6 RHI Magnesita N.V . . .3750.0 20.0 5000.0 3318.0 Workspace Group . . . . .919.5 15.0 1031.0 789.5 Wizz Air Holdings . . .3604.0 -21.0 3769.0 2329.0 Tsy 2.250 23 ...... 107.41 -0.19 108.0 104.7 Morgan Advanced M . .235.8 -0.8 302.0 232.0 Brewin Dolphin Ho . . . .305.6 -0.8 358.0 287.6 Smiths Group ...... 1569.5 32.5 1692.0 1279.5 Rotork ...... 300.1 2.7 324.2 235.7 Reach ...... 98.7 1.7 100.2 54.6 Tsy 2.500 24 ...... 373.63 -0.19 377.9 359.1 Oxford Instrument . . .1196.0 -20.0 1424.0 842.0 City of London In . . . . .430.0 -3.5 440.0 360.0 Smurfit Kappa Gro . . .2464.0 28.0 2686.0 1934.0 Spirax-Sarco Engi . . . .7535.0 -65.0 9400.0 5900.0 Relx plc ...... 1869.0 -18.0 2011.0 1491.5 AIM 50 Tsy 0.125 24 ...... 114.48 -0.24 115.8 110.9 CMC Markets ...... 126.0 0.6 128.0 77.4 Rightmove ...... 525.0 6.0 585.1 420.9 SOFTWARE & COMPUTER SERV. Renishaw ...... 3490.0 -38.0 4670.0 3368.0 Vesuvius ...... 411.0 6.6 642.0 401.4 Weir Group ...... 1348.5 16.0 1814.0 1240.0 Abcam ...... 1099.0 -17.0 1500.0 1017.0 Tsy 5.000 25 ...... 124.92 -0.22 126.1 122.1 Spectris ...... 2294.0 -1.0 2898.0 1966.5 Coats Group ...... 69.1 -0.6 91.3 69.0 STV Group ...... 375.0 2.0 400.0 318.0 5.2 393.4 259.6 Avast ...... 363.8 - Advanced Medical . . . .235.5 -1.0 354.5 225.0 Tsy 4.250 27 ...... 131.14 -0.38 132.8 122.6 Georgia Capital ...... 989.0 4.0 1260.0 941.0 GENERAL RETAILERS INDUSTRIAL METALS & MINING WPP ...... 963.8 -2.0 1076.0 800.4 Aveva Group ...... 3682.0 0.0 4170.0 2284.0 EQUITY INVESTMENT INSTRUM. Alliance Pharma ...... 75.9 0.4 80.4 60.0 Tsy 1.250 27 ...... 138.62 -0.47 141.1 128.6 Hargreaves Lansdo . . .1767.0 -49.5 2433.0 1633.0 Auto Trader Group . . . .490.9 9.3 606.0 388.5 Evraz ...... 414.0 5.9 709.4 408.1 MINING Computacenter ...... 1247.0 20.0 1525.0 952.0 Tsy 6.000 28 ...... 149.90 -0.38 152.2 140.5 Aberforth Smaller . . . .1218.0 2.0 1306.0 1114.0 IG Group Holdings . . . .576.6 -3.6 644.5 474.8 B&M European Valu . . .347.7 1.1 426.3 278.6 ASOS ...... 2450.0 26.0 6050.0 2107.0 Ferrexpo ...... 148.2 1.7 301.3 140.6 FDM Group (Holdin . . . .647.0 -27.0 994.0 645.0 Blue Prism Group . . . . .907.0 39.0 2002.0 845.0 Tsy 0.125 29 ...... 132.43 -0.56 134.7 119.0 Alliance Trust ...... 783.0 3.0 838.0 672.0 IntegraFin Holdin . . . . .351.5 -5.0 406.1 269.0 Card Factory ...... 159.6 4.7 209.0 151.2 Anglo American . . . . .1923.6 73.6 2266.0 1539.0 Kainos Group ...... 445.0 8.0 676.0 366.0 Camellia ...... 9400.0-150.0 11750.0 9100.0 Tsy 4.125 30 ...... 395.59 -0.53 404.2 356.1 Apax Global Alpha . . . .155.5 0.5 159.5 127.0 Intermediate Capi . . . .1342.0 11.0 1460.0 899.0 Dixons Carphone ...... 118.4 3.7 178.6 104.9 INDUSTRIAL TRANSPORTATION Antofagasta ...... 864.0 37.0 1022.5 727.2 Micro Focus Inter . . . . .1063.8 10.2 2491.6 1039.0 Tsy 4.750 30 ...... 145.35 -0.45 147.9 132.1 International Per ...... 105.4 -0.6 222.4 87.0 Dunelm Group ...... 730.5 -84.5 981.0 482.8 BHP Group ...... 1696.6 32.6 2049.0 1490.6 CareTech Holding . . . . .362.0 4.0 406.0 325.0 AVI Global Trust ...... 736.0 -1.0 781.0 660.0 BBA Aviation ...... 311.2 0.2 324.8 207.0 Playtech ...... 397.6 5.7 500.6 360.5 Central Asia Meta . . . . .210.0 9.5 266.5 180.0 Tsy 1.250 32 ...... 162.88 -0.66 167.7 144.3 Baillie Gifford J ...... 816.0 -12.0 840.0 663.0 Investec ...... 403.8 8.5 518.6 392.6 Inchcape ...... 614.0 8.0 650.0 486.6 Clarkson ...... 2610.0 45.0 2710.0 1878.0 Centamin (DI) ...... 114.0 -3.0 152.4 79.8 Sage Group ...... 679.0 -1.2 820.4 525.6 Tsy 4.250 32 ...... 143.34 -0.46 146.4 128.5 Bankers Inv Trust . . . . .937.0 4.0 970.0 766.0 IP Group ...... 59.7 2.1 122.0 55.7 JD Sports Fashion . . . . .732.4 2.4 754.2 318.5 Fresnillo ...... 654.2 -15.2 1027.5 601.0 Ceres Power Holdi . . . . .215.0 -3.0 220.0 130.0 Fisher (James) & . . . .1878.0 20.0 2260.0 1600.0 Softcat ...... 913.5 -20.5 1044.0 565.0 721.0 Tsy 0.125 36 ...... 155.64 -0.86 162.5 133.9 BBGI SICAV S.A. ( ...... 158.5 -0.5 168.0 146.5 John Laing Group . . . . .355.6 1.6 402.0 296.2 Just Eat ...... 617.8 -13.6 812.0 533.8 Glencore ...... 232.0 7.2 340.3 222.2 Sophos Group ...... 423.7 13.5 492.0 298.2 Clinigen Group ...... 833.0 -3.5 1069.0 Royal Mail ...... 202.2 4.7 367.7 188.4 CVS Group ...... 960.0 5.0 1029.0 395.0 Tsy 4.250 36 ...... 151.88 -0.55 155.7 133.1 BlackRock Smaller . . .1354.0 2.0 1482.0 1160.0 JTC ...... 360.0 4.0 440.0 287.0 Kingfisher ...... 192.8 6.9 266.2 185.9 Hochschild Mining . . . . .176.4 -6.5 227.0 149.1 Tsy 4.750 38 ...... 167.29 -0.59 171.8 144.9 Jupiter Fund Mana . . . .318.0 4.0 432.0 287.6 Marks & Spencer G . . . .166.7 2.8 299.1 161.4 Kaz Minerals ...... 407.4 17.1 738.4 380.3 Dart Group ...... 935.5 15.0 983.5 709.5 BMO Global Smalle . . .1330.0 0.0 1406.0 1220.0 Diversified Gas & . . . . .106.0 -0.5 134.0 97.0 Tsy 0.625 40 ...... 176.88 -0.88 185.7 153.1 Caledonia Investm . . .2960.0 -15.0 3110.0 2650.0 Liontrust Asset M . . . . .776.0 26.0 816.0 532.0 Polymetal Interna . . . .1159.5 -15.0 1208.5 608.8 SUPPORT SERVICES Tsy 4.500 42 ...... 172.01 -0.66 176.7 145.9 City of London In . . . . .410.0 1.0 431.5 376.0 LMS Capital ...... 57.8 0.0 58.0 44.0 Rio Tinto ...... 4104.0 85.5 4976.5 3513.5 Aggreko ...... 788.0 7.6 858.4 691.8 Draper Esprit ...... 463.0 -1.0 610.0 410.0 Eland Oil & Gas ...... 128.2 2.8 134.0 97.0 Tsy 3.500 45 ...... 154.48 -0.78 159.0 128.0 Edinburgh Inv Tru . . . . .575.0 -2.0 654.0 535.0 London Finance & . . . . .38.5 0.0 42.5 37.5 MOBILE TELECOMS Ashtead Group ...... 2150.0 22.0 2344.0 1586.5 Tsy 4.250 46 ...... 175.76 -0.82 181.0 145.7 London Stock Exch . . .7288.0 40.0 7514.0 3867.0 EMIS Group ...... 1016.0 8.0 1242.0 864.0 F&C Investment Tr . . . .693.0 3.0 731.0 616.0 BCA Marketplace ...... 235.6 0.0 247.0 178.5 s . . . . .2115.0 15.0 3199.0 2070.0 Tsy 4.025 49 ...... 183.04 -0.88 188.9 150.0 Fidelity China Sp ...... 212.5 0.5 250.0 182.4 Man Group ...... 162.2 -1.6 175.2 126.8 Inmarsat ...... 582.6 -1.4 608.2 362.8 Bunzl ...... 1987.0 -1.0 2551.0 1970.3 Fevertree Drink Tsy 0.500 50 ...... 207.50 -1.26 222.9 173.7 OneSavings Bank . . . . .331.6 8.4 447.4 313.6 MAIN CHANGES UK 350 Vodafone Group ...... 162.8 1.9 168.9 123.3 First Derivatives . . . . .2165.0 0.0 3555.0 2050.0 Fidelity European . . . . .242.5 -0.5 257.5 202.0 Capita ...... 148.0 4.1 148.8 99.9 Frontier Developm . . .1030.0 6.0 1180.0 740.0 Tsy 0.250 52 ...... 204.24 -1.42 221.1 168.8 Fidelity Special ...... 249.5 0.5 269.0 220.0 Paragon Banking G . . .467.0 9.0 482.4 379.2 OIL & GAS PRODUCERS DCC ...... 6856.0 38.0 7184.0 5555.0 Finsbury Growth & . . . .903.0 -1.0 958.0 740.0 Plus500 Ltd (DI) ...... 771.0 3.4 1647.0 495.0 Diploma ...... 1620.0 -24.0 1694.0 1150.0 Gamma Communicati .1135.0 25.0 1195.0 688.0 12.0 631.0 410.5 Foresight Solar F ...... 117.5 -2.0 126.0 107.5 Provident Financi . . . . .391.2 3.8 658.6 356.0 BP ...... 502.0 -4.3 582.5 484.9 Electrocomponents . . . .618.4 3.4 657.2 480.0 GB Group ...... 518.0 - AEROSPACE & DEFENCE Quilter ...... 128.3 0.8 156.6 110.6 Finablr ...... 149.8 6.9 Dunelm Group ...... 730.5 -10.4 Cairn Energy ...... 187.0 6.4 228.8 140.0 Gooch & Housego . . . .1210.0 25.0 1880.0 954.0 GCP Infrastructur ...... 125.2 -0.6 130.8 122.4 Equiniti Group ...... 208.4 2.6 236.2 186.2 Hurricane Energy ...... 39.7 0.9 60.8 38.6 Genesis Emerging . . . .754.0 -1.0 783.0 615.0 Rathbone Brothers . . .2115.0 -5.0 2540.0 2085.0 CYBG ...... 111.5 6.8 Sirius Minerals ...... 3.4 -7.2 Energean Oil & Ga . . . .908.0 14.0 1082.0 568.0 Essentra ...... 409.4 8.4 442.0 325.4 BAE Systems ...... 553.2 -1.8 590.4 443.9 Real Estate Credi ...... 165.0 -0.5 175.5 163.0 Antofagasta ...... 864.0 4.5 AJ Bell ...... 348.0 -4.1 Premier Oil ...... 75.9 2.9 132.7 55.6 Impax Asset Manag . . .272.0 15.5 295.0 184.0 Cobham ...... 155.6 -1.6 168.3 96.8 Greencoat UK Wind . . . .141.6 -0.6 143.6 124.4 Experian ...... 2508.0 -46.0 2631.0 1728.5 22.0 1786.0 1326.0 Record ...... 33.2 -0.8 35.4 27.3 Royal Dutch Shell . . . .2315.5 -4.0 2612.0 2213.0 ...... 6402.0 56.0 6422.0 4749.0 Iomart Group ...... 353.5 -8.0 425.0 308.0 Meggitt ...... 626.6 2.0 643.0 458.0 HarbourVest Globa . . .1698.0 - Kaz Minerals ...... 407.4 4.4 FDM Group (Holding ...... 647.0 -4.0 Ferguson . . . . IQE ...... 62.5 1.3 98.0 47.6 Herald Investment . . .1250.0 -10.0 1364.0 1055.0 River and Mercant . . . .244.0 -8.5 310.0 212.0 Royal Dutch Shell . . . .2304.0 -3.0 2622.0 2227.0 Finablr ...... 149.8 9.6 180.0 134.2 QinetiQ Group ...... 303.6 -0.4 312.4 267.0 Anglo American ...... 1923.6 4.0 Barratt Developmen ...... 586.8 -3.7 James Halstead ...... 508.0 0.0 532.0 367.0 HGCapital Trust ...... 224.0 -3.0 237.0 175.0 S&U ...... 2100.0 40.0 2440.0 1767.5 Premier Oil ...... 75.9 3.9 Hochschild Mining ...... 176.4 -3.6 Tullow Oil ...... 202.5 0.8 251.4 165.2 G4S ...... 186.2 0.2 234.3 168.3 Rolls-Royce Holdi . . . . .734.0 2.4 988.4 722.0 Sanne Group ...... 523.0 0.0 752.0 450.0 Grafton Group Uni . . . .723.0 17.0 937.0 630.0 Johnson Service G . . . . .171.0 -1.2 183.2 113.6 Senior ...... 174.6 -0.2 291.2 173.4 HICL Infrastructu ...... 162.2 -2.0 170.1 149.9 Lloyds Banking Gro ...... 52.7 3.9 Aston Martin Lagon ...... 422.7 -3.3 OIL EQUIPMENT & SERVICES .8 Schroders ...... 2888.0 33.0 3210.0 2334.0 ...... 141.9 2.7 176.0 135.7 Keywords Studios . . . .1183.0 -22.0 1838.0 900.0 Ultra Electronics . . . . .1963.0 0.0 2252.0 1232.0 International Pub . . . . .152.0 -1.6 165.4 146 Hays ...... Learning Technolo . . . .105.6 -2.2 130.0 62.2 JPMorgan American . . .468.5 1.0 494.5 386.5 Standard Life Abe . . . . .272.3 6.3 330.1 224.9 BT Group ...... 184.9 3.9 Hargreaves Lansdow ...... 1767.0 -2.7 Hunting ...... 414.0 3.0 745.5 409.6 Homeserve ...... 1120.0 -21.0 1263.0 849.0 BANKS JPMorgan Emerging . .986.0 -3.0 1066.0 759.0 TP ICAP ...... 317.9 1.9 346.9 268.2 Kingfisher ...... 192.8 3.7 Greggs ...... 1749.0 -2.7 Petrofac Ltd...... 392.3 1.7 627.6 381.5 Howden Joinery Gr . . .526.8 -2.4 573.4 416.4 M. P. Evans Group . . . . .612.0 -34.0 722.0 612.0 Walker Crips Grou ...... 27.0 0.0 37.5 24.0 IP Group ...... 59.7 3.7 Mercantile Investm ...... 197.6 -2.7 Wood Group (John) . . .329.1 1.7 758.6 325.7 Midwich Group ...... 524.0 6.0 660.0 474.5 Bank of Georgia G . . . .1266.0 13.0 1755.0 1220.0 JPMorgan Indian I . . . .726.0 -5.0 790.0 566.0 Intertek Group ...... 5280.0 -62.0 5962.0 4387.0 Mortgage Advice B . . .550.0 -10.0 620.0 490.0 XPS Pensions Grou . . . .120.0 -0.5 171.0 95.0 .527.0 7.0 628.0 500.0 Barclays ...... 149.2 4.2 178.9 136.2 JPMorgan Japanese . . .441.5 -1.5 457.0 367.0 PERSONAL GOODS Network Internati . . . . Next Fifteen Comm . . . .516.0 6.0 658.0 469.0 Jupiter European . . . . .814.0 1.0 875.0 666.0 Pagegroup ...... 385.0 6.4 539.0 367.8 Close Brothers Gr . . . .1280.0 -20.0 1605.0 1227.0 Burberry Group . . . . .2048.0 14.0 2345.0 1623.5 5.0 5.0 1118.0 748.0 Nichols ...... 1587.5 5.0 1880.0 1240.0 CYBG ...... 111.5 7.1 287.4 104.4 Law Debenture Cor . . .564.0 0.0 618.0 534.0 FIXED LINE TELECOMS PayPoint ...... 85 .6 -5.4 212.5 168.0 PZ Cussons ...... 206.0 1.0 244.0 178.6 Numis Corporation . . . .226.0 -3.5 309.0 212.0 HSBC Holdings ...... 598.0 -6.6 680.6 580.9 Mercantile Invest ...... 197 Next ...... 5952.0 92.0 6320.0 3991.0 NON LIFE INSURANCE Rentokil Initial ...... 456.6 -3.3 467.8 284.8 Pan African Resou ...... 12.2 0.0 14.5 7.9 Monks Inv Trust ...... 881.0 0.0 964.0 710.0 BT Group ...... 184.9 6.9 264.7 158.9 Pets at Home Grou . . . .210.0 0.4 239.4 110.0 PHARMACEUTICALS & BIOTECH Robert Walters ...... 448.0 -3.0 462.0 448.0 Lloyds Banking Gr ...... 52.7 2.0 66.6 48.6 TalkTalk Telecom . . . . .103.4 0.9 132.8 96.6 Polar Capital Hol ...... 510.0 -22.0 610.0 448.0 Royal Bank of Sco . . . . .195.9 5.8 270.4 177.7 Murray Internatio . . . .1162.0 -4.0 1212.0 1056.0 Sports Direct Int ...... 277.6 2.6 340.3 214.0 Admiral Group ...... 2037.0 4.0 2300.0 1932.5 Serco Group ...... 145.0 -1.0 152.0 84.1 Telecom Plus ...... 1148.0 -16.0 1528.0 1088.0 AstraZeneca ...... 7052.0 -39.0 7533.0 5325.0 .5 2.0 153.0 98.5 Purplebricks Grou ...... 111.0 1.0 232.4 90.0 Standard Chartere . . . .647.2 12.0 736.8 519.8 NB Global Floatin ...... 89.9 0.1 92.5 87.6 Vivo Energy ...... 114.2 -0.6 139.5 96.0 Beazley ...... 603.0 -13.0 628.0 492.6 SIG ...... 102 Redde ...... 104.6 1.8 187.0 90.0 NextEnergy Solar . . . . .119.0 -1.0 124.5 109.0 WH Smith ...... 1962.0 13.0 2186.0 1697.0 Direct Line Insur ...... 275.4 2.2 366.5 272.9 Dechra Pharmaceut . .2550.0 -66.0 3036.0 2014.0 TBC Bank Group ...... 1150.0 -4.0 1710.0 1124.0 FOOD & DRUG RETAILERS Genus ...... 2860.0 2.0 2990.0 2098.0 TOBACCO Renew Holdings ...... 383.0 -2.5 436.5 333.0 Pantheon Internat . . .2265.0 5.0 2330.0 1955.0 Hastings Group Ho . . . .186.9 1.2 242.0 174.0 RWS Holdings ...... 625.0 5.0 652.0 415.5 Perpetual Income . . . .305.0 2.0 341.0 284.5 Greggs ...... 1749.0 -48.0 2476.0 1080.0 Hiscox Limited (D . . . .1596.0 -8.0 1777.0 1418.0 GlaxoSmithKline . . . . .1712.0 -8.4 1745.2 1418.0 British American . . . .2810.0 -9.0 3619.0 2375.0 Morrison (Wm) Sup . . .195.0 1.8 255.1 176.9 HEALTH CARE EQUIPMETN & S. Hikma Pharmaceuti . .2041.0 -28.0 2200.0 1510.5 Scapa Group ...... 208.0 -1.0 445.0 157.0 BEVERAGES Pershing Square H . . .1526.0 -18.0 1570.0 990.0 Lancashire Holdin . . . . .702.0 0.0 746.0 535.5 Imperial Brands ...... 1872.6 20.4 2750.0 1774.6 Secure Income Rei . . . .452.0 0.0 455.0 371.0 Personal Assets T . . .42300.0-100.0 43150.038900.0 Ocado Group ...... 1298.0 3.5 1435.0 749.8 Assura ...... 72.9 0.1 73.3 52.4 RSA Insurance Gro . . . .506.0 4.4 597.0 496.6 PureTech Health ...... 235.0 4.0 292.0 160.5 Barr (A.G.) ...... 552.0 9.0 975.0 540.0 Sainsbury (J) ...... 205.6 3.3 324.0 177.1 TRAVEL & LEISURE Serica Energy ...... 133.2 1.2 142.0 103.6 Britvic ...... 992.0 5.0 1005.0 745.0 Polar Capital Tec . . . . .1394.0 0.0 1500.0 1066.0 Convatec Group ...... 181.2 3.0 226.0 118.6 Sabre Insurance G . . . .288.0 3.5 295.0 249.0 REAL ESTATE INVEST. & SERV. 5.0 2170.0 1892.0 SSP Group ...... 610.0 0.0 721.0 604.0 . . . . .3146.0 49.0 4650.0 3081.0 Smart Metering Sy . . . .413.4 -1.6 665.0 310.0 Coca-Cola HBC AG . . .2546.0 -27.0 3074.0 2244.0 RIT Capital Partn . . . . .2125.0 Mediclinic Intern ...... 331.7 10.4 474.7 293.4 Carnival ...... Thorpe (F.W.) ...... 283.0 1.0 340.0 248.0 Riverstone Energy . . . .485.0 0.0 1266.0 481.0 Tesco ...... 227.4 0.1 253.0 189.6 LIFE INSURANCE BMO Commercial Pr . . . .113.2 -0.4 141.8 106.0 Cineworld Group ...... 214.2 -0.9 321.0 210.4 Diageo ...... 3321.5 -33.5 3625.5 2523.5 NMC Health ...... 2544.0 69.0 3678.0 1801.5 Watkin Jones ...... 227.5 3.0 232.5 192.2 9.0 UDG Healthcare Pu . . . .727.0 5.0 821.0 551.0 Capital & Countie . . . . .225.3 -1.8 279.5 184.9 .2031.0 -16.0 2138.0 1483.0 Schroder Asia Pac . . . . .433.5 0.5 469.5 37 Smith & Nephew . . . .1886.0 -20.5 1990.0 1258.0 Aviva ...... 381.2 6.2 449.9 352.3 Compass Group . . . . . Young & Co's Brew . . .1570.0 -20.0 1885.0 1322.5 CHEMICALS Scottish Inv Trus ...... 823.0 4.0 843.0 748.0 FOOD PRODUCERS Legal & General G . . . . .241.0 7.4 291.2 216.7 CLS Holdings ...... 242.0 -0.5 255.0 195.4 Domino's Pizza Gr . . . .248.9 1.9 297.2 221.2 HHOLD GDS & HOME CONSTR. Daejan Holdings . . . .4850.0 -10.0 6160.0 4715.0 281.4 -0.2 285.0 161.2 Young & Co's Brew . . .1140.0 0.0 1195.0 1030.0 Croda Internation . . . .4760.0 -28.0 5375.0 4564.0 Scottish Mortgage . . . .492.0 0.2 568.5 441.4 Phoenix Group Hol . . .669.6 11.6 724.8 544.0 EI Group ...... conomic . . . .114.6 -1.2 117.6 108.0 Associated Britis . . . . .2106.0 -13.0 2638.0 2041.0 Grainger ...... 248.0 3.0 263.5 205.8 FirstGroup ...... 124.1 -1.5 137.5 79.3 Elementis ...... 137.6 1.3 228.0 129.8 Sequoia E Barratt Developme . . .586.8 -22.6 663.0 434.0 Prudential ...... 1440.0 47.5 1790.0 1326.0 Smithson Investme . . .1218.0 2.0 1280.0 1000.2 Bakkavor Group ...... 115.6 -0.8 170.0 93.3 Bellway ...... 3200.0 57.0 3355.0 2419.0 St James's Place ...... 930.2 2.0 1143.0 913.6 NewRiver REIT ...... 193.6 5.8 264.0 147.6 Flutter Entertain . . . . .7776.0 -24.0 8164.0 5525.0 Johnson Matthey . . . .2908.0 69.0 3454.0 2620.0 -1.0 294.0 213.5 Cranswick ...... 3076.0 22.0 3094.0 2472.0 Safestore Holding . . . .656.0 6.5 681.0 499.4 Sirius Minerals ...... 3.4 -0.3 25.5 2.9 Syncona Limited N . . . .217.0 Berkeley Group Ho . . .4014.0 85.0 4208.0 3226.0 Go-Ahead Group . . . . .1922.0 -8.0 2208.0 1480.0 CONSTRUCTION & MATERIALS Temple Bar Inv Tr . . . .1202.0 2.0 1366.0 1116.0 Greencore Group . . . . .222.0 1.4 230.0 162.9 MEDIA Savills ...... 860.0 8.5 957.0 678.5 0.4 850.0 480.0 Synthomer ...... 286.0 3.0 452.0 279.8 Bovis Homes Group . .1063.0 13.0 1177.0 828.0 Greene King ...... 847.6 0 Hilton Food Group . . . .958.0 -23.0 1088.0 884.0 Sirius Real Estat ...... 74.1 0.5 75.9 55.6 Victrex plc ...... 2078.0 52.0 2802.0 1845.0 Templeton Emergin . . .781.0 -1.0 829.0 649. Countryside Prope . . . .309.0 3.2 342.2 270.0 4Imprint Group . . . . .2930.0 30.0 3130.0 1800.0 GVC Holdings ...... 807.6 19.0 960.0 507.5 The Renewables In . . . .127.6 -0.8 133.2 109.3 Tate & Lyle ...... 692.0 -4.6 800.4 633.4 Crest Nicholson H . . . . .362.8 8.8 404.8 296.4 Ascential ...... 355.8 -1.6 411.0 337.2 St. Modwen Proper . . . .419.5 -8.5 446.5 365.0 InterContinental . . . . .4819.5 11.0 5738.0 3958.4 CONSTRUCTION & MATERIALS TR Property Inv T . . . . .420.5 -2.0 430.0 353.5 Unilever ...... 4779.5 -60.5 5324.0 3931.0 McCarthy & Stone . . . . .142.2 -0.2 148.5 123.5 Bloomsbury Publis . . . .239.0 1.0 245.0 190.5 REAL ESTATE INVEST. TRUSTS International Con ...... 461.1 3.0 667.6 413.5 Vietnam Enterpris . . . .500.0 1.5 509.0 421.5 Marston's ...... 117.8 -2.2 131.3 90.6 Balfour Beatty ...... 207.2 -1.4 295.0 194.2 FORESTRY & PAPER Persimmon ...... 2063.0 70.0 2471.0 1836.0 Centaur Media ...... 37.5 -3.5 56.5 34.7 VinaCapital Vietn . . . . .340.0 -1.5 357.5 318.0 Entertainment One . . .562.5 0.5 589.0 336.4 Big Yellow Group . . . . .1074.0 12.0 1074.0 852.5 Merlin Entertainm . . . .453.0 0.0 453.5 307.1 CRH ...... 2690.0 49.0 2837.0 1971.5 Witan Inv Trust ...... 211.5 1.0 225.5 189.6 Mondi ...... 1577.0 31.0 1898.0 1486.3 British Land Comp . . . .548.0 6.6 624.8 468.3 Millennium & Copt . . . .687.0 4.0 700.0 436.0 Galliford Try ...... 629.5 19.5 918.5 512.0 Derwent London . . . . .3232.0 12.0 3370.0 2761.0 Ibstock ...... 231.6 0.2 262.0 193.1 Worldwide Healthc . .2550.0 -20.0 2835.0 2325.0
EU SHARES US SHARES AB INBEV...... 83.59 -0.70 92.71 56.32 3M...... 152.31 1.32 219.75 150.58 ADIDAS N...... 278.40 0.50 297.95 178.30 ABBOTT LABORATOR...... 80.14 0.64 88.76 65.44 AIR LIQUIDE...... 117.55 1.35 119.23 92.59 ADOBE...... 274.98 0.71 313.11 204.95 AIRBUS BR...... 117.92 0.54 133.86 77.50 ALPHAB RG-C-NV...... 1208.67 6.36 1289.27 970.11 ALLIANZ...... 207.25 1.25 218.70 170.50 ALPHABET-A...... 1209.47 7.07 1296.98 977.66 AMADEUS IT GRP BR-A...... 65.84 1.08 74.94 58.06 AMAZON.COM ...... 1720.26 -1.73 2035.80 1307.00 ASML HLDG...... 230.55 5.90 231.90 130.12 AMERICAN EXPRESS...... 115.02 1.10 129.34 89.05 AXA ...... 22.76 0.31 23.99 18.40 APPLE...... 230.09 3.06 230.44 142.00 BANCO SANTANDER...... 3.64 0.09 4.68 3.39 AT&T ...... 37.42 0.37 38.75 26.80 BASF N...... 63.10 1.09 74.62 55.72 BANK OF AMERICA...... 28.45 0.56 31.17 22.66 BAYER N...... 63.99 -0.10 79.69 52.00 BERKSHIRE HATH RG-B...... 206.86 0.17 224.07 186.10 BBVA...... 4.63 0.12 5.68 4.19 BOEING CO...... 371.00 -3.96 446.01 292.47 BMW ...... 63.18 0.77 79.00 58.10 CATERPILLAR...... 122.69 3.25 149.17 111.75 BNP PARIBAS A...... 43.69 1.20 52.31 38.14 CHEVRON...... 114.59 1.45 127.60 100.22 CRH PLC...... 30.23 0.80 34.87 26.53 CISCO SYSTEMS...... 46.15 -0.69 58.26 40.25 DAIMLER N...... 45.41 0.83 59.90 40.35 CITIGROUP...... 68.62 1.19 73.09 48.42 DANONE ...... 78.62 -0.34 82.38 59.72 COCA-COLA CO ...... 53.66 -0.17 55.92 44.25 DEUTSCHE BOERSE N...... 141.30 -0.05 143.85 102.50 COMCAST-A...... 44.50 0.12 47.27 32.61 DEUTSCHE POST N...... 29.12 0.32 31.59 23.43 COSTCO WHSL...... 297.14 0.24 307.34 189.51 DEUTSCHE TELEKOM N...... 15.27 -0.04 15.88 13.80 DOW...... 44.92 0.91 0.00 0.00 ENEL N...... 6.77 -0.05 6.91 4.26 EXXON MOBIL...... 68.25 0.81 86.82 64.65 FACEBOOK-A...... 180.03 0.18 208.66 123.02 ENGIE...... 14.68 0.14 15.09 11.31 GOLDMAN SACHS GR...... 199.87 3.02 234.06 151.70 ENI N...... 13.68 0.08 16.42 12.92 HOME DEPOT ...... 231.61 2.67 235.49 158.09 ESSILORLUXOTT...... 132.50 0.20 136.70 95.50 IBM...... 141.13 1.46 152.95 105.94 FRESENIUS...... 41.31 -0.13 69.48 38.50 INTEL...... 51.11 0.63 59.59 42.36 IBERDROLA...... 9.30 -0.05 9.58 5.68 JOHNSON&JOHNSON...... 129.06 -0.16 148.99 121.00 INDITEX...... 28.20 0.42 29.00 21.85 JPMORGAN CHASE...... 114.21 1.58 120.40 91.11 ING GROUP...... 9.47 0.40 12.14 8.20 MASTERCARD RG-A...... 273.83 1.59 293.69 171.89 INTESA SANPAOLO N...... 2.15 0.05 2.36 1.80 MCDONALD'S...... 211.76 -1.07 221.93 161.82 KERING...... 462.60 18.65 539.80 351.70 MEDTRONIC...... 107.42 0.67 112.05 81.66 KON AH DEL BR...... 22.48 0.24 24.01 18.99 MERCK...... 83.76 -0.42 87.35 66.10 L'OREAL...... 245.30 -2.30 258.90 182.00 COMMODITIES CREDIT & RATES MICROSOFT...... 139.10 0.86 142.37 93.96 LINDE...... 174.45 5.10 0.00 0.00 NETFLIX...... 280.48 12.95 385.99 231.23 Gold...... 1507.25 1.40 Copper Cash Official ...... 5650.00 0.00 BoE IR Overnight...... 0.750 0.00 Euro Base Rate ...... 0.000 0.00 LVMH...... 376.85 19.85 392.65 242.30 NIKE -B- ...... 93.00 0.48 94.75 66.53 Silver...... 17.78 0.23 BoE IR 7 days...... 0.750 0.00 Finance house base rate...... 1.000 0.00 MUENCHENER RUECKV N...... 237.30 0.50 238.40 181.20 Aluminium Cash Official...... 1713.00 15.50 ORACLE ...... 55.49 0.96 60.50 42.40 NOKIA...... 4.51 0.02 5.76 4.17 Brent Crude ...... 58.32 0.08 BoE IR 1 month...... 0.750 0.00 US Fed funds...... 2.25 0.00 Nickel Cash Official...... 17555.00 190.00 BoE IR 3 months...... 0.750 0.00 US long bond yield...... 2.16 0.08 PEPSICO...... 137.89 0.04 140.45 104.53 ORANGE...... 14.49 0.12 15.25 13.08 Krugerrand...... 1530.35 12.10 Aluminium Alloy Cash Official...... 1120.00 0.00 BoE IR 6 months...... 0.750 0.00 Euro Euribor ...... -0.501 -0.01 PFIZER...... 35.79 0.10 46.47 33.97 ROY.PHILIPS...... 37.96 -3.65 44.60 29.05 Palladium...... 1659.00 30.00 Cocoa Futures ...... 2408.00 -43.00 LIBOR Euro - overnight ...... -0.574 0.00 The vix index...... 17.57 -1.07 PHILIP MRRS INT...... 77.75 0.30 92.74 64.67 SAFRAN...... 140.70 0.25 145.40 99.98 Platinum...... 887.00 6.00 Coffee 'C' Futures...... 93.88 -1.57 LIBOR Euro - 12 months...... -0.360 0.00 The baltic dry index...... 1873.00 72.00 PROCTER&GAMBLE...... 121.94 -0.04 125.36 78.49 SANOFI ...... 81.91 0.06 85.90 71.74 Tin Cash Official...... 16380.00 -5.00 LIBOR USD - overnight...... 1.790 -0.01 Markit iBoxx EUR ...... 248.14 -1.06 SALESFORCE.COM...... 146.41 -0.64 167.56 113.60 Feed Wheat Futures...... 137.50 -1.00 SAP I...... 105.06 -1.16 125.00 84.02 Lead Cash Official...... 2188.00 -60.00 LIBOR USD - 12 months ...... 1.882 0.00 Markit iBoxx GBP...... 359.06 -3.43 TRAVELERS COS...... 141.56 0.26 155.09 111.08 SCHNEIDER EL...... 78.28 1.14 82.20 57.54 Zinc Cash Official...... 2294.50 0.00 Soybeans Futures Continuation Contract...922.40 -1.20 Halifax mortgage rate...... 3.990 0.00 Markit iBoxx USD...... 263.57 -0.64 TWITTER...... 39.54 0.04 45.86 26.19 SIEMENS N...... 96.31 0.30 108.62 84.72 UNITEDHEALTH GRO...... 223.73 1.65 287.94 208.07 SOCIETE GENERALE...... 23.99 0.77 33.84 20.81 WORLD INDICES UTD TECHS ...... 133.92 1.96 144.40 100.48 TELEFONICA...... 6.89 0.08 8.06 5.86 VERIZON COMM...... 59.83 0.61 61.58 52.28 TOTAL...... 45.30 0.42 54.84 42.65 VISA RG-A...... 174.88 0.00 187.05 121.60 UNILEVER...... 54.11 -0.14 57.77 45.30 FTSE 100 ...... 7186.36 19.86 0.28 S&P 500 ...... 2938.13 18.73 0.64 CAC 40 ...... 5569.05 69.91 1.27 Hang Seng ...... 25707.93 25.12 0.10 WALGREENS BOOTS ...... 52.93 0.86 86.31 49.03 VINCI...... 97.12 0.44 101.70 69.98 FTSE 250 ...... 19235.72 64.12 0.33 Dow Jones I.A...... 26496.67 150.66 0.57 Swiss Market Index...... 9903.02 72.97 0.74 Shanghai Composite ...... 2947.71 22.85 0.78 WALMART...... 119.61 0.68 119.88 85.78 VIVENDI...... 24.75 0.05 26.69 20.80 FTSE All-Share ...... 3938.33 11.36 0.29 Nasdaq Composite ...... 7950.78 47.04 0.60 ISEQ Overall Index ...... 6216.48 64.30 1.05 STI Index ...... 3088.49 -4.74 -0.15 WALT DISNEY...... 129.34 0.01 147.15 100.35 VOLKSWAGEN VZ I...... 153.60 3.42 163.70 131.02 FTSE AIM All-Share ...... 856.28 -0.22 -0.03 Xetra DAX ...... 12164.20 69.94 0.58 FTSEurofirst 300...... 1506.84 9.82 0.66 ASX All Ordinaries...... 6662.90 -4.10 -0.06 WELLS FARGO...... 48.65 0.50 55.04 43.02 18 OPINION FRIDAY 11 OCTOBER 2019 CITYAM.COM
FORUM WE WANT TO HEAR YOUR VIEWS › E: [email protected] COMMENT AT: cityam.com/forum EDITED BY RACHEL CUNLIFFE LETTERS Rory walks on with a mission TO THE EDITOR Winter is coming to spice up the race for mayor [Re: Should the winter fuel allowance be means-tested?] When virtually every benefit for working people has been frozen or cut, there is only ATCH out London, improving Londoners’ lives, or is onto the defensive. one good reason to not means-test the your favourite selfie- Rory (as his critics would paint Rachel Cunliffe Well-settled in his role as the voice winter fuel allowance: money. Would it taking, tie-rejecting, him) just a lightweight opportunist Comment and features of metropolitan anti-Brexit voters, cost more to manage the means-testing Waccidental-opium- indulging in quirky conversations editor at City AM he now faces a man who quit his process and to equip the social care smoking, politician/ with strangers and armed only own party in protest over the possi- system to deal with vulnerable pensioners rambler is coming to a Tube station with colourful anecdotes about his bility of no-deal, plus the Lib Dem who slip through the cracks than it would near you. time in the Middle East? and Green candidates, all fighting save? Given that most other benefits are Yes, it’s Rory Stewart time once My answer, as a lifelong Londoner, for the 60 per cent of London voters means-tested, this seems unlikely. The again. For those of us who were is that it doesn’t matter. Rory has in- Shaun Bailey’s who backed Remain in 2016. winter fuel allowance cost the taxpayer mesmerised by the former interna- jected some spark and spice into a Giving speeches against Brexit isn’t almost £2bn last year. It is simply not fair to tional development secretary’s mayoral election that had up until campaign has been enough – Khan is actually going to working people to continue subsidising short-lived sensation of a campaign this point been downright dull. given a shot of have to talk about the issues. And wealthy pensioners who do not need it. to be Tory leader, now we get to With just seven months to go, the from missed housebuilding targets R Levy enjoy the sequel, after Rory quit his race has garnered far less attention adrenaline and to the endless delays to Crossrail (not party last Friday to run as an inde- than in previous cycles. That’s not to mention knife crime), the Labour pendent for London mayor. a surprise – not only has Brexit Sadiq Khan is having mayor’s record is patchy. Sparring Since then, his campaign has con- been sucking up all the political to raise his game with Donald Trump on Twitter isn’t BEST OF sisted mostly of a grand walking oxygen, but the threat of a General going to cut it. TWITTER tour of the capital (more manage- Election has pushed the mayoral Not that Rory has clear answers to able than the nationwide trek he at- race out of the spotlight. Besides, any of these questions either, of The main reason there won’t be a tempted over the summer) and an up until last week, a second term course. His opening gambit to Lon- snack ban on public transport is epic social media game. for Sadiq Khan looked inevitable. Many Conservatives seemed to doners was simply the promise to because presumably most of the train Rather than making up a fake The opening poll of the contest in consider him at best, irrelevant – at listen and a reminder that he franchise profit margin comes from favourite London pub (as David December saw Khan starting out worst, disappointing. helped clear rubbish off the streets charging a captive market £2.29 for a Cameron made up a fake favourite with the support of 55 per cent of The shock emergence of a new in Kabul. But then, that isn’t the slightly warm two-finger Kit-Kat and football team), Rory told an inter- Londoners – a lead that could, if challenger into the race has had the point – no one is actually expecting the lobbyists will never have it viewer that he preferred Pret A held, enable him to be the first ever unintended consequence of gal- him to win. @MartinBelam Manger, and has been tweeting self- candidate to win the race in the vanising support among Tories for Still, that doesn’t mean his candi- deprecatingly about #PretCrawl in first round by a majority. While the their man. dacy is a waste of time – for himself As a parent of an impressively hangry the face of the inevitable culture incumbent mayor’s personal ap- Rory has been branded by former or for London. Rory is clearly using toddler this strikes me a ludicrous. war backlash. proval ratings have slumped since, party colleagues as an entitled and this race as a way to keep his Brexit Snacks aren’t the problem, it’s the In response to a bizarre online he was still considered a shoe-in. self-serving narcissist, parachuting message in the spotlight after quit- content of snacks. Far better to invest complaint about not showing up His Conservative rival Shaun Bai- into the capital with his Remainer ting the Tory party – good for him in initiatives like @1stepsnutrition somewhere, he apologised with the ley had therefore been pretty much agenda, while Bailey is an authentic if it works. @snailsarah excuse that one of his team had de- written off even by his own side. Londoner committed to tackling Meanwhile, Bailey’s campaign has fected to Venezuela. This is how for- Not only did Bailey lack name the issues that voters really care been given a shot of adrenaline, “It’s the police! Step off the train with mer diplomats amuse themselves. recognition and media presence, about, like the rise in crime. Khan is having to raise his game, your hands up!” Lest anyone think that he isn’t tak- but his campaign was quickly It has also sparked a surprise inver- the other candidates have become Me: *Steps onto platform nervously* ing things seriously, interspersed be- marred with the surfacing of past sion of the standard culture war, more energised, and Londoners are “Drop the snack and put your hands tween such banter have been serious comments suggesting that young with some traditional Conservatives getting the dynamic, passionate where I can see them” comments about the looming Brexit women were promiscuous and that arguing that a posh white Old Eton- mayoral race they deserve. Me: *Lays half-eaten Snickers bar on negotiations cliff-edge and Turkey’s Hindu holidays were linked to ian (Rory) has no right to take on an And if Rory does by some miracle the ground* military offensive on the Kurdish- crime (unhelpful, given that the ethnic minority son of a lorry driver actually win, perhaps his first act as @katjdenham held region of northern Syria. Hindu community is usually a key (Bailey). Identity politics at its finest. mayor should be licensing opium Is any of this actually relevant to voting bloc for Tories in London). Khan, meanwhile, has been pushed in London’s shisha bars. Ok I’ve blocked everyone except Jacob Rees-Mogg so now we’ll see who’s spreading these lies about me @BorderIrish The draconian nanny state has no right Fountain House, 3rd Floor, 130 Fenchurch Street, London, EC3M 5DJ to stop you eating a sandwich on a bus Tel: 020 3201 8900 Email: [email protected] T’S NOT a crime to eat a sand- has argued tirelessly before, the sta- ary wedding cake or a ready-made wich on a bus. It should not be tistics around childhood obesity are Kate Christmas pudding to serve to the Editorial Editor Christian May a crime to eat a sandwich on a deeply flawed and misleading. Andrews extended family – they’re trying to Deputy Editor Andy Silvester Ibus. To propose that sandwich- The government ignores the clini- stop us, the grown-ups. They want News Editor Josh Martin eating on a bus is an issue to be cal definition of child obesity when control over our date-night dinner Comment & Features Editor tackled, a problem to be solved, a compiling its statistics. Instead it for two, our cinema pick-and-mix, Rachel Cunliffe danger to the children, is some- uses an arbitrary and unrealistic our Saturday chocolate croissant, Lifestyle Editor Steve Dinneen where on the spectrum between measure which hugely exaggerates our early morning juice drink. Sports Editor Frank Dalleres hysterical and absurd. the scale of the problem. To drink orange juice on the Tube Creative Director Billy Breton So naturally, public health offi- In reality, the issue of childhood to work never has been, and never Commercial Sales Director Jeremy Slattery cials have put the idea forward as a obesity is contained to a small but gestion that eating when hungry is should be, a breach of some state Head of Distribution Gianni Cavalli consideration for serious public needy bracket of kids, who should unhealthy behaviour? rule. To hinder adults from doing policy, in a report this week by out- be the target of our intervention But of course, this isn’t about the so is an utterly absurd intrusion. going chief medical officer Dame and help. children – or about safety or health Bureaucrats have already had Certified Distribution Sally Davies. Creating a culture of shame or reducing litter on public trans- their fun, ruining more than from 29/07/2019 till We should not be surprised. Over around food is not the way to do it. port. This is yet another attempt on enough classic recipes like Irn-Bru 25/08/2019 is 76,030 the past few years, British quangos These latest proposals to ban eat- the part of unelected officials to and Ribena, thanks to the pressure have been bombarding the public ing and drinking on public trans- mould and shape our lives to their put on brands to “reformulate”. So Distribution helpline with their Orwellian ideas, from port would suggest that public preferences – to make our free soci- let’s stop this authoritarian creep in If you have any comments about free speech attacks on advertising health officials have gravitated to- ety less free. its tracks now. the distribution of City A.M. to regressive taxes on fizzy drinks. wards an unhealthy obsession with Why else would Davies’ report in- The risk to us isn’t just the taste or please ring 0203 201 8955, or It was only a matter of time before consumption. clude policies that are clearly aimed size of your favourite pizza or pre- email [email protected] their policy proposals became more It is irresponsible to send a mes- at adults, such as the call for an ferred sweet. It is to the very defini- egregiously silly in nature. sage to young girls and boys – many “upper-level cap on calories” for “all tion of what it means to be a free Our terms and conditions for external But doing this “in the name of the of whom are already body-con- food and drink” served outside of adult in a free country. contributors can be viewed at children” is no laughing matter. As scious – that food should not been the home? cityam.com/terms-conditions my colleague at the Institute of Eco- consumed in public. What kind of Public officials are not trying to £ Kate Andrews is associate director at Printed by West Ferry Printers Ltd, nomic Affairs Christopher Snowdon damage will be wrought by the sug- stop children from purchasing a sug- the Institute of Economic Affairs. Kimpton Rd, Luton LU2 0SX CITYAM.COM FRIDAY 11 OCTOBER 2019 OPINION 19 Worried about the skills shortage? Look to devolution
PPRENTICESHIPS are power- ment, skills and apprenticeships in and other London businesses and developed, a better data system for ap- ful examples of how bor- Peter their local area. business groups to call for reform of prenticeships is needed. oughs and businesses can John The UK is highly centralised, with the apprenticeship levy. Employers should also be allowed to Awork together to create and London government controlling Ringfencing London’s levy contribu- use some levy funding for pre-employ- meaningful work and train- Peter around seven per cent of the tax raised tion via devolution would allow local ment training ,and it should be easier ing opportunities for Londoners. Yet, in the city. In New York, meanwhile, government to support a skills system for different employers to collaborate the research that we at London Coun- Bishop that figure reaches 50 per cent. Lack of in the capital that increases social on the use of their funds. cils and London Chamber of Com- control over its own funds has made it mobility and enables businesses to But with full levy devolution, Lon- merce and Industry (LCCI) are more difficult for London authorities better navigate challenges posed by a don’s councils and businesses can launching today shows that the system to respond to local challenges. competitive market. work symbiotically to ensure better is failing London and needs reform. path bursting with development op- The leaders and mayors of all 32 Until we reach that point, there are skills development, work opportu- Since 2017, the apprenticeship levy portunities and employers seeking a di- London boroughs and the City of Lon- some immediate fixes required to the nity, and economic growth in the cap- has been available to fund the delivery verse cohort of new recruits to train don Corporation recognise this chal- national system, such as having the ital. We owe that to all Londoners. of apprenticeships, with the aim of up. But there are clear operational is- lenge, and have come together to government work with the Institute improving their quality and quantity. sues with the current system. agree on a joint action plan for 2022, for Apprenticeships to speed up and £ Councillor Peter John is chair of London But over two years on, these funds are To boost apprentice numbers, full through London Councils. One of increase the development of appren- Councils, and Peter Bishop is chief often under-utilised, or not even taken devolution of the apprenticeships and these pledges to Londoners commits ticeship standards. To ensure that executive of London Chamber of advantage of at all, by businesses. skills system to London government is to working in partnership with LCCI transferable skills are identified and Commerce and Industry. Our London Business 1000 poll, con- necessary. We have set out our propos- ducted with ComRes, shows that close als for an ambitious skills devolution to nine in 10 (86 per cent) businesses deal with the mayor of London in the don’t currently employ apprentices, Skills for Londoners Call for Action. while 60 per cent of levy-paying firms London’s local leaders work closely expect to use less than half their levy with the capital’s key industries, and over the next year. Nor are matters im- the workforce is their electorate. They proving, with a mere 16 per cent indi- are unquestionably best-placed to put STYLE WITH cating that they will use more than resources to work so that education half of their levy – a significant drop and training serves local communities. from 28 per cent last year. Indeed, 82 per cent of business deci- At a time of near record employment sion-makers who participated in the CONFIDENCE with employers struggling to find the Business 1000 poll agree that local skilled candidates they need, the num- London councils should have the pow- ber of businesses employing appren- ers and funding to integrate employ- tices is worryingly low. Our research suggests that limitations in the levy Research launched have prevented firms from creating the apprenticeships their businesses today shows that the need, reducing the number of oppor- tunities available to Londoners and apprenticeship system compounding recruitment challenges. is failing London Businesses and boroughs know that apprenticeships can be transformative for individuals looking for a career
DEBATE Can technology actually be good for our mental health?
Mental ill-health costs the UK economy between £74bn and £99bn each year. Currently, there is insufficient care and IN ASSOCIATION WITH resources readily available to people YES when they need it most. Technology provides an accessible, NICK TAYLOR scalable means for people to improve their mental wellbeing, whether they’re that tracks and analyses our lifestyle data thriving or surviving. For some, it’s a can enable us to appreciate which areas of destigmatised channel which empowers our life are going well, and which need them to seek support. For others, it gives more focus, so we can take active steps to them the comfort to manage their mental improve them – this is what being health in their own time. It can point users proactive means. Wednesday 16th October in the direction of resources, help them It’s time to stop relying on reactive care come to terms with the challenge they’re when it comes to mental health, and 6.30pm - 8.30pm facing, and ultimately offer 24/7 access to technology empowers us to take a step Turnbull & Asser, 71-72 Jermyn St, the right care, at the right time. towards achieving this. We also need to focus much more on St. James's, London SW1Y 6PF proactive and preventative care when it £ Dr Nick Taylor is a clinical phycologist comes to our mental health. Technology and co-founder of Unmind. Join the City A.M. Club and Turnbull & Asser to hear from their hosts - Turnbull & Asser Creative Director, Becky French, Blackhorse Lane denim workshop owner, Bilgehan "Han" I’ve been using an app to try meditation. Ates, journalist Aleks Cvetkovic and etiquette consultant Jo Bryant - on how to revitalise The content is great but the experience your style and confidence, in and away from the office. marred by the notifications, streaks, and gaming techniques designed to prompt NO subscribers to log on. Enjoy an evening of relaxed drinks with a Q&A around building your style foundations and This is an app whose sole purpose – JENNY AFIA seemingly – is to promote wellbeing. Yet it why investing in quality is the future of dressing, with a sneak peek of the upcoming Silk deploys persuasive design techniques to suggests new content to keep us glued to Shirt Collection - the ultimate shirt for confident style. make it more compulsive. our screens late at night. Captology, where computers and I don’t trust big tech to enhance our psychology intersect, is now an intrinsic mental health. These are the same RSVP to [email protected] feature of most tech. These products are companies whose guiding principle is only going to become more addictive. “move fast and break things”, and who Yet what’s captivating isn’t necessarily have avoided regulation for as long as www.turnbullandasser.com best for our wellbeing. Quality of possible. friendships is sacrificed for quantity on social media. Other people’s picture- £ Jenny Afia is a privacy lawyer and perfect lives erode our self-worth. partner at Schillings. She is on the Opinions are polarised as we live in Children’s Commissioner’s Digital Task thought bubbles. Sleep suffers as autoplay Force. 20 HOT PROPERTY FRIDAY 11 OCTOBER 2019 CITYAM.COM HOTPROPERTY ALL YOU NEED TO KNOW ABOUT THE LONDON PROPERTY MARKET Edited by Helen Crane
RE-INVENTING LONDON RENTING FOR THE RICH
London has more renters than ever – and it’s being fuelled in part by new demand for luxury lets
ccording to conventional British wisdom, renting is something you do when you can’t afford to buy a house. While that’s still true of the majorityA of London renters, there is another group – and they’re growing. Some are international executives the market for £3,500 a week. high-end renters are looking East. coming here to work for a year or two. Lifestyle is also important for James “Renters are delighting in how There are wealthy overseas students, Palmer, who works for a bank in Ca- much this vibrant part of London has too, particularly from China where From top: An apartment in the Atlas building; An apartment in Ostro Tower; The nary Wharf and rents a newly refur- to offer. Demand for top-notch rentals applications to UK universities in- £30,000 per month flat in Clarges Mayfair; the Atlas building penthouse bished two-bed penthouse on with a range of added extras is strong creased by 30 per cent last year. In ad- Albemarle Street in Mayfair and joins and sustained,” says Rob Csercse, head dition, affluent UK commuters are head of Savills Corporate Services. “In his family in Somerset for weekends – of East London sales. choosing to rent instead of buy their industries like tech, major organisa- although for him that means “walk- Houzen says high-end apartments in pied-a-terres because of the 3 per cent- tions are bringing people over at jun- ing everywhere” and being near parks Canary Wharf are now sought after by plus stamp duty penalty on second ior level right through to executive.” and museums for when his kids visit. Chinese students “more than any homes imposed three years ago. But while a few years ago companies He says the decision to rent rather other demographic,” particularly in Whatever their reasons, they are might have paid to relocate whole than buy was “100 per cent down to buildings like Greystar’s Ostro Tower contributing to a spike in renting in families, the preferred option now is stamp duty,” which would equate to which offers renters personal training the capital – as well as creating a mar- to rent a pied-a-terre for the executive about three years’ worth of rent. and pet sitting. Aldgate, it says, is ap- ket for luxury rental homes. and allow regular trips home. “When you combine that with the in- pealing to “professionals working in Property agent JLL says it saw a huge International professionals and stu- herent flexibility of renting, it’s a no- the City and students from Asia,” 36.7 per cent increase in people who dents are both keen on high-end, new- brainer,” he adds. thanks to rental schemes like MyLo’s enquired about renting a property be- build flats. “They tend to like new This week, Wetherell rented a flat in Aldgate Place which offers residents a tween January and August compared developments that offer porters and Clarges, Mayfair to a “millennial ten- 24/7 concierge, gym and winter gar- to the same period in 2018. Mean- gyms and all those extra facilities,” ant” for £30,000 per week, noting that dens. The penthouse rents for £1,788 while Savills says it saw a 15 per cent says JLL’s Lucy Morton. the “young super-rich” are opting to per week. Csercse says East End pent- year-on-year rise in renters in July and At the Atlas Building in the City, rent due to Brexit and stamp duty. houses are likely to be filled by August alone, and that corporate lets which has a gym, spa, pool and cin- But it’s not all about the City and “YouTubers and esports players” are up 10 per cent in the year to date. ema, JLL let 40 apartments off-plan – West End. JLL’s Stratford office has rather than City boys. “There’s certainly been no sign of something that is almost unheard of seen a 47 per cent rise in rentals, and If the number of high-end tenants companies slowing down their staff in the rental market. It has also just this tallies with data from property keeps growing, the renter stereotype re-locations,” says Matthew Salvidge, launched the 38th-floor penthouse to platform Houzen, which says lots of could be in for quite a challenge. THE PENTHOUSE COLLECTION
LAUNCHING WEDNESDAY 16TH OCTOBER 4-7PM – 131-143 BELSIZE ROAD, NW6 4BR
Three exceptional apartments with terraces offering spectacular views. Join us for the launch event and view our new show apartment whilst enjoying a cocktail from a local mixologist.
PRICES FROM £1,175,000
RSVP to attend 020 3151 5457 [email protected]
THECAMDENCOLLECTION.CO.UK
Prices correct at time of going to print. Image is of the show apartment at Abbey Road Cross 22 HOT PROPERTY FRIDAY 11 OCTOBER 2019 CITYAM.COM INTERIORS Style meets substance at Decorex The showpiece lounge at the interiors mecca Our approach put sustainability to interiors centre stage, says rejects today’s Helen Crane impulsive, disposable culture his week, top interior design- ers from across Europe de- scended on Kensington Other pieces for the lounge were Olympia for Decorex, the an- sourced from the vintage furniture nual industry show where selling platform Vinterior. theyT go to get their furniture, fabric, “Part of what I’ve realised when de- lighting and craft inspiration for signing the VIP lounge for Decorex is the next year. how broad the definition of sustain- The centrepiece of the ability is”, Harding adds. “It’s not just event is the VIP lounge, the environmental side that needs ex- which is taken over by ploring: it’s the social, economic and a different design cultural side as well.” team each year with The graphic-patterned rugs in pastel a brief to create a shades were provided by textile de- space which reflects today’s impulsive, Harding and Read has filled the have become waste, and were sup- signer Christine Van Der Hurd, who what’s happening in disposable cul- space with objects that are eco- plied by The Douglas Watson Studio. has forged long-standing relation- the design world ture, which fuels friendly down to the very finest de- The central table was made from an- ships with makers in Nepal and India right now. over-consumption tail. The violet cabinetry in the bar tique off-cuts by a team of apprentices and says the business she gives them This year Harding and waste,” ex- area was created by British Standard, in the studio of antique dealer helps to keep their craft alive. and Read picked up the plains founder and is topped with a reclaimed iroko Matthew Cox; while the slightly To complete the virtuous circle, all baton, and decided it Nicola Harding. “It is wood worktop from architecture and weathered leather sofas in a rich, of the furnishings will be sold at an wanted to create a space a mindset that we hope design salvage specialist Retrouvius. shiny deep tan were provided by fel- auction to benefit the charity Em- that was as sustainable as it to have demonstrated in The delicate, hand-painted delft tiles low antique dealer Christopher Howe maus – which trains homeless people was beautiful, dubbing it this year’s legacy lounge: an im- adorned with tiny people, creatures who carefully scrutinises his supply to restore and repair items for the the ‘legacy lounge’. mersive experience of our inherently and buildings were originally un- chain and carbon-offsets all his prod- home – when the lounge is disman- “Our approach to interiors rejects sustainable approach to interiors”. wanted tiles that would otherwise ucts that are shipped from overseas. tled.
URBAN RIVERSIDE LIVING
OVER
80% RESERVED
STAMP DUTY PAID* STUNNING 2 & 3 BEDROOM RIVERSIDE APARTMENTS
Bow River Village is an award winning new residential quarter which is firmly establishing itself as Bow’s new go-to place to live. Includes a select number of stunning ground floor 2 bedroom, duplex apartments with riverside views.
2 Bedrooms 3 Bedrooms from £512,000 from £600,000
www.bowrivervillage.co.uk 0300 030 1054
Selling Agent
Prices and details correct at time of going to press. *Stamp Duty Paid as an allowance upon Legal Completion on 2 & 3 bedroom apartments in Grattan Court only. T&C’s apply.
24 HOT PROPERTY FRIDAY 11 OCTOBER 2019 CITYAM.COM GETPROPERTY OF THE WEEK MOOR FOR YOUR MONEY
service, underground parking and This upmarket gym. If that wasn’t enough to tempt you, the boat is also exempt from Wandsworth boat stamp duty. It was designed and built by its cur- is bigger than a rent owner in 2011 as a home for his two sons, and is being sold by detached house Sotheby’s International Realty UK, which describes it as a houseboat “for iving on land is quite boring, those seeking the exceptional”. when you think about it. Its hull is made from marine-quality You’re forever going up and steel, and it also has clustered oak ve- down stairs, you don’t get to neers on the walls and honed lime- wake up to the gentle sound of stone and oak floors. It also has an Lwaves lapping against your bedroom integrated speaker system, air condi- wall, and your house doesn’t have the tioning and under-floor heating. exciting potential of being able to be The Riverside Quarter mooring is a moved to another location when you small community of houseboats, com- feel like it. prising just twelve berths. If you want to ditch your stationary It overlooks the infamous Fulham dwelling for an altogether more inter- members’ club, the Hurlingham Club, esting one, this houseboat moored at RIVERSIDE QUARTER, and is close to both Wandsworth and Riverside Quarter in Wandsworth, Putney town centres. Unfortunately which has just come to the market, WANDSWORTH, £1.8M the buyer of the houseboat won’t be could be for you. able to sail themselves to work, but it As boats go, it’s pretty upmarket. At is only a short walk from the Thames more than 2,400 sq ft, it is 800 sq ft Clipper service, which runs from the larger than the average detached Wandsworth Riverside Quarter Pier to house. The double-level vessel has four Chelsea, Vauxhall, Embankment and bedrooms, four bathrooms, a recep- Blackfriars. tion room, a kitchen-diner and a 580 Toby Albert-Corban, global real es- sq ft sun deck. tate advisor at Sotheby’s International And if you’re worried about having Realty, says the boat offers “all the to give up your fitness routine when benefits of a modern riverside apart- taking to the water, never fear: the ment” and is a “wonderful opportu- owner will have access to the swim- nity for anyone in search of a ming pool, jacuzzi, spa and steam beautifully crafted ‘floating home’.” room within the Riverside Quarter de- The agent is seeking offers in excess velopment, as well as its concierge of £1.8m.
Your Digital Property Marketplace
ResidentialiseR de aitn l & CCommercialaicremmo l AAuctionitcu on - 3300th & 31st OctoberOctot ber
ClientsneilC whowtn havehhs instructedivao usuetcutrsne include:id ns WokinghamWedulcn BoroughBahgniko: guorom Cg Council | SwanseaSicnuoh Ciesnawl Cityy Cta Council | Jicnuo JC Dl DecauxxuaceC LeedsdeeL Cid City Cts Council | PeabodyPicnuoy y | DDioceseDdobael osecoiy of SouthwarkSe | LPALrawthuof A ReceiversRPk R | TrusteesTrevieceA inieetsurs BankruptcyBs rknan & Ectpu Executorssrotucexy
A.19.4 KeybridgeK.91.A Lofts,Lgdirbye4 stfoe 808s SouthS, tuo0 h CannocknaC conn k CCricketekcir t & HHockeyyekco 79 - 8187 HighH9 Street,Sgi1 teerth , 94 C9 Church Rcruh4 Road,daoh , LONDONLONDON LONDONLONDON A.20.3 KeybridgeK.02.A gdirbye3 e Lofts,L 808stfoe SouthS, tuo0 h STAFFORDSHIREERIHSDROFFATS CClub,lub, TTheeh MMorrissirro GGround,roun ,d SCUNTHORPEUCS NTH EPRO KENTEK NT Lambeth Road,RtebmaL VauxhallVdaoh hxua, Slah SW8 1RG1Wl GR8 Lambeth RtebmaL Road,, Vdaoh VVauxhall Slahxua, SW8 1RG1Wl GR8 CannocknaC conn k WWS111S 1 11RRRR LLincolnshirein oc lnshir De DN15 651N 6LZZL Bexleyheath DA7DtaehyelxeB 4DQ4Ah QD7
• Of tnalp-f eerh bed moor pe ohtn suo e • tnalp-ffO bow rde oom ap tra ment • bO olahen Ff Cexif hd Rgrah reviecee s • erF oleh rd iliate tsevn ment • erF oleh d en od f terrac he suo e arap tnemt • uoh-42 r con ic geer , g ,my s apa, s iw mm gni pool • mloheerF stlud s gtropi g anuors nd d • teL Bt s BByalcrao pnas 7 ylk raec s • bruoF rde oom ,s on be rhta oom • tgraL wcarree vtie oweih Cs ytif • oleH a nd len lnow saeg e ilivap on appr 2.xo 7.4 77 ac ser enu xpi der • uF ll v naca pt sesos nois • uoh-42 r con ic geer , g ,my s ,ap s iw mm gni pool • uvitanretlA pse netoe Saitn PTl • £nicudorP 0,05g p00 a0
GUIDEDIUG E PRICE:P ECIR : £1,950,000,059,1£ 000 GUIDEDIUG E PRICE:P ECIR : £975,000,579£ 000 GUIDEG,DIU E PRICE:P ECIR : £600,0006£ 00,000 GUIDEG£DIU E PRICE:P ECIR : £550,000£R0,55 00 0I GUIDEDIUG E PRICE:P IEC : £400,0004£ 00, 000
LEEDSLEEDS Armley Grange,GelmrA ArmleyAegnary mr, elm y LONDONLONDON 48 HawthorneH4 htwa8 Close,Cnroh esole , SURREYUS RREY 61 LivingstoneL gnivi61 Road,Rnotsg daoe , UNITED KINGDOMKETINU ODGNID M 9 ssites oeti9 on bs behalff ofolahen f NEWPORTEN WPORT 147/148 C41/741 Commercial Saicremmo8 Street,teertl , Grange Drive,DgnarG ArmleyAevire elmr, LS12Le 3QH31Sy HQ2 Dalstonn N1NNotslaD 4AW4n WA1 ThorntonotnrohT HeathHo CR7Ctaen 8JX8h XJR7 JC DecauxDJ uaceC x OwentwO en Nt NP20P 1L20 1LNN
• erF oleh hd tsi or ci ma isn on w hti a xenn e • Lon lg sae oleh sd c-fle on at fdenia al t • erF oleh md t-di errac he suo e • f9 admeror vert sgnisit eti s • fautriV eerl clohe ctid rrtney iatee l • ulremroF aesy od seciffs • benO rde oom, on be rhta oom • bowT rde oom ,s on be b rhta oom • leveD opment oppor tinut y STPTP p imerp ses • tlA er uevitan /es de lev opmen ppt to en ait l • tsevnI ment pr do uc £gni 31 p008,3 a • uF ll v ptnaca sesos ois no • ptnacaV sesos s nois • e uuvitanretlA pse Saitnetoe PTl • ptnacaV ossesos nois
GUIDEG0DIU E PRICE:P ECIR : £350,000£350,00 GUIDEG0DIU E PRICE:P ECIR : £270,000£270, 00 GUIDEDIUG E PRICE:P ECIR : £250,000£250, 000 PRPRICEECI ONON APPLICATIONAPPLI OITAC N GUIDEDIUG E PRICE:PRI0I EC : £125,000£125, 00
Full cluF catalogue agolatal availablevue ablaiav at ble bidx1.comm | 0oc.1xdit 0020 72m 7703 4070 4401 | i043 [email protected] moc.1xdib.ku@o
Guide Price: The Guide Price is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the Guide Price, or range of prices, is published. Please note that up to and including the auction date, the Guide Price and Reserve Price may be subject to change, uunlessnless sold prior or withdrawn. CITYAM.COM FRIDAY 11 OCTOBER 2019 HOT PROPERTY 25 IT’SOPINION STILL A SELLER’S MARKET
Hannah Quality, well-priced properties are still selling in a flash, often in competitive Aykroyd, bidding scenarios well over the asking Founder, price. So, while buyers should expect a Aykroyd & Co discount from the high of five years ago, those who think they can take a leisurely approach to their property search are in for a shock. This is my ad- vice to buyers in the market right now.
f you’re looking to buy residential PREPARE YOURSELF property in London right now, buckle Before you even begin your search, your seatbelt: despite recent doom make sure you are fully prepared to act. Iand gloom headlines, Central London Appoint a mortgage broker, surveyor remains a seller’s market. and lawyer who are well known in the It is true prices have come off about 20 London market, and have all your pa- criteria, and when they do, they will aware of much of the property that is BE ENGAGING per cent since the 2014 high. It’s also true perwork in place. Cash is king and likely face stiff competition. Notting currently available. Once an offer has been accepted, a buyer that the average time a London home clearly puts the buyer into a much Hill, Marylebone, Maida Vale and Hol- needs to ensure the vendor remains set- spends on the market has increased, and stronger position than someone obtain- land Park are all areas where we are see- SHOW COMMITMENT tled and engaged. A key part of this is that the number of transactions in Lon- ing a mortgage, but if that isn’t an op- ing gazumping and competitive Once you’ve found a property you like, it good, daily communication, even if it’s don has fallen to almost half what it was tion it is vital to have a mortgage agreed bidding, particularly for family houses. is important to act quickly. This is not only to report that there is no update in the heady peak of 2010. in principle before you begin your prop- It is also important for buyers to be just to pre-empt other offers, but to show that day. In the end, vendors and sales However, these statistics can be mis- erty search. aware that many of the best properties the vendor that you are committed. We agents are people, and trust and relation- leading. We’re actually operating in a in London sell off-market. In St John’s were recently involved in a situation ships are important if you want to en- two-tier market, with around 20 per cent SEARCH FAR AND WIDE Wood, for example, nearly 75 per cent where the winning bid was £100,000 less sure a smooth exchange. of properties attracting huge amounts of Stock levels are very low, especially for of the properties we are seeing at the than the highest public bid. Why? Be- Selling yourself as a buyer is critical to interest and 80 per cent stagnating due well-priced properties in desirable moment are not being sold on the open cause the buyer was a sure thing: a winning in today’s competitive market, to incorrect pricing, poor marketing or a areas. It may take buyers up to six market. This means that, unless you re- neighbour who knew the house and area and it’s often the small things that en- substandard product. months to find a property that fits their tain a buying agent, you will not be well and could transact in three days. sure success.
FINAL 3 APARTMENTS REMAINING PARKER TOWER
HOLBORN EXCEPTIONAL CITY LIVING These one bedroom Shared Ownership homes are perfectly located 200m from Holborn station.
† PRICES FROM £232,500
†Based on a 25% share of the full market value of £930,000
Call to book an appointment 0344 800 9448 www.site-sales.co.uk/parkertower RECEIVE A £1,000 FURNITURE Parker Street, London, WC2B 5PS PACKAGE WHEN YOU RESERVE BEFORE 31ST OCTOBER*
Ŗ ub1;-m77;|-bѴv1ouu;1|-|ঞl;o=rubm|ĺbmbll7;rovb|o=ƐƏѷŐŬƑƒķƑƔƏőĺ$şĽv-rrѴŊlv|;1_-m];0;=ou; ƒƐv|1|o0;ub|_bmƑѶ7-v=uolbvv;o=;lou-m7lo="-Ѵ;|ou;1;b;bm1;mঞ;ĺolr|;u];m;u-|;7bl-];ĺ 26 HOT PROPERTY FRIDAY 11 OCTOBER 2019 CITYAM.COM FOCUS ON PRIVATE VIEW ON THE MARKET IN Be King of the Castle in SE1 AND SE17 ascendant Elephant South London spot is under the
radar – for now BARKHAM TERRACE £2.75M
This stucco-fronted period home overlooks FOCUS ON the Imperial War Museum and has five bedrooms and a cinema room. ELEPHANT AND CASTLE Call Hamptons International on 020 7407 3173
ondon property buyers are al- ways looking for the elusive hidden gem. An area that’s Lclose to central London, but be- cause it used to have a dodgy reputation, or the high street is a bit grim, no one’s really paying attention. The hidden gem has improved enough in recent times that it’s a de- cent place to live, but not so much that house prices are rising astronom- ically – although they inevitably will. STRATA BUILDING Right now, that place is Elephant and Castle. Average house prices in £1.8M The Elephant (as it’s colloquially known) were £494,859 in the year to The penthouse apartment of the Strata June, compared to £606,936 in Lon- building has two bedrooms and bathrooms, don as a whole, according to Savills. bu the real selling point is the amazing views. Compare that to other locations in There’s an eclectic mix of things to do in Elephant and Castle, from the Imperial War Museum to the Ministry of Sound nightclub Call Cluttons on 020 7407 3669 zone one (Elephant and Castle tube is on the zone one-two border, and Wa- terloo and London Bridge are a 15- phant. Ninety-eight per cent of prop- hipster vibe,” says James Hyman, head don for 70 years. Developer Delancey minute walk) and it looks even more erty sales last year were flats, and of residential at Cluttons. plans to redevelop the notoriously of a bargain. when period houses do come up for Elephant and Castle is also popular run-down shopping centre and re- House prices have held their own sale they’re worth a pretty penny. with those looking for a part-time place it with new shops, homes and a over the past few years, but it’s not too “While 25 per cent of Southwark’s foothold with good connections to campus for the London College of hot. “Elephant & Castle is one of Lon- properties were built pre-1900, only a the capital. “It is a popular area for Communications. don’s innermost areas which contin- handful are in Elephant & Castle,” those who need a London pied-a-terre, Developments like these are bring- ues to transform its offering, and over says Tomlinson. “Heritage homes on and there are also parents who will ing with them a better lifestyle offer- the last five years its house prices have roads like Gladstone Street are highly buy an apartment in the area for their ing, and amenities like the popular risen by 42 per cent, double the rate desirable and sale prices generally sit children to attend one of London's Mercato Metropolitano food market of London as a whole,” says Jess Tom- more around the million mark.” world-class universities,” says Ashley have joined long-standing attractions linson, research analyst at Savills. The preponderance of apartments Whitbourn, manager at Frank Harris like the Ministry of Sound and Impe- But this is tempered by the fact that helps to explain the area’s appeal to & Co Southbank. rial War Museum. AMELIA STREET the average second-hand sale price first-time buyers, who bought 42 per There is lots of new development, “The area has benefitted from the dipped by 1.4 per cent in the last year, cent of homes there last year accord- and Whitbourn says 5,000 apart- knock on effect of the booming South £425,000 in contrast to the 4.6 per cent growth ing to Hamptons International. ments have been built in the past five Bank and London Bridge,” says in Southwark and 0.4 per cent growth “What was until very recently con- years. This is led by Lendlease’s Ele- Hyman. “In fact Elephant and Castle This modern one bed apartment with a witnessed across the capital. sidered a no-go zone is now a location phant Park which will eventually residents no longer need to leave SE1.” balcony is situated in the popular Printworks You’re unlikely to find your bay- of choice for young professionals, who comprise nearly 2,500 new homes as If they want to keep this hidden gem Development off Walworth Road. fronted three-bed semi in The Ele- bring with them a cafe society and well as the largest new park in Lon- a secret, that might not be a bad idea. Call Dexters on 020 7650 5102
AREA GUIDE Area highlights HOUSE PRICES Source: Zoopla DETACHED SEMI TERRACED FLATS Fans of music and the arts need never £972,250 £807,269 £681,235 £438,175 be bored thanks to Elephant and TRANSPORT Source: TfL Castle’s lively cultural scene. The Mercato Metropolitano Time to Canary Wharf 14 mins infamous Ministry of Sound has served clubbers from its base on Gaunt Street Ministry of Sound Time to Liverpool Street 11 mins Paladar Restaurant Nearest rail station Elephant and Castle for nearly 30 years, while music venue Southwark and late bar Corsica Studios is a newer Playhouse BEST ROADS Source: Zoopla entrant but already proving popular. For Most Expensive Gladstone Street £1.23m more sedate cultural pursuits, London’s Highest turnover Stead Street 50% in 5yrs leading off-West End theatre the AVERAGE ASKING RENT Southwark Playhouse is just down the Two-bed flat £2,236 pcm road. The Cinema Museum, housed in The Prince of Wales the former Lambeth Workhouse, is home to artefacts, memorabilia and equipment from the 1890s onward, and also holds regular film screenings. Don’t Elephant & Castle forget the Imperial War Museum, which draws around two million visitors per year south of the river. The most Corsica Studios highly acclaimed local restaurant is Paladar, which serves vibrant Latin Cinema Museum American dishes in a colourful setting, while convivial boozer The Prince of Wales is famed for its traditional London pie and mash. For street food, Mercato Metropolitano has all you could want and more.
28 LIFE&STYLE FRIDAY 11 OCTOBER 2019 CITYAM.COM GOING OUT EDITED BY STEVE DINNEEN @steve_dinneen
FILM THE DAY SHALL COME DIR. CHRIS MORRIS BY STEVE DINNEEN
It’s been a quiet decade for Chris Mor- ris. In the late 1990s and early 2000s he was the most exciting voice in British comedy, with hits including The Day Today, Nathan Barley and Brass Eye, the latter providing one of the most controversial moments in television history – the Paedogeddon! special. But after his 2010 feature debut Four Lions, a pitch-black satire about a bunch of bumbling suicide bombers... not much. Which makes it all the more disappointing that his latest movie feels like a watered-down version of the last one, reworked and repositioned for an American audience. This time Morris’s knives are out for the law enforcement agencies that prey on idiotic young men, rather than the idiotic young men them- selves. It follows Moses, a delusional preacher and leader of a four-strong black power “army” fighting for the peaceful overthrow of the white op- pressor. Mostly they run a loss-mak- ing community farm, which is about to be swept away by gentrification – a problem when God speaks to you through farm animals. Moses gets caught up in an FBI sting driven by the cynical need for arrests, leading to a catastrophic – and often very funny – comedy of errors. The Day Shall Come is an enjoyable farce, with sharp writing and likeable performances further lifted by a late streak of righteous indignation against the treatment of black people in Amer- ica. But too often it feels tame, a pet- ting zoo version of Morris rather than the mercurial genius who pushed com- edy closer to its logical conclusion than anyone of his generation.
FILM you’re still watching, like how they find yourself wincing any time some- GEMINI MAN have to start repainting the Golden one makes a sudden movement. The DIR. ANG LEE Gate bridge before they’ve finished one farm animal that does appear in the previous coat. Smith raised to the the film is a pig, and even he doesn’t BY STEVE HOGARTY power of Smith is a surprisingly un- get a reprieve. thrilling formula, and the director is If the director’s aim is to catalogue Ang Lee’s latest film, Gemini Man is so convinced otherwise that the rest the events of this extraordinary period remarkable for two reasons. Firstly, it of the cast simply orbit lethargically in his life in exactingly grim detail, the stars regular Will Smith facing off around him/them. Gemini Man may film has done its job – but it feels more against a digitally de-aged Will Smith, be a technical tour de force, but the like a documentary than a story. in a feat of cinematic engineering baubles disguise a predictable action Ultimately, we don’t get to know En- that is genuinely very convincing. caper that could itself have been itan as anything other than a victim of, Thanks to whatever manner of ad- cloned of any number of other mid- and later perpetrator of, racism, and vanced Snapchat filters Ang Lee dling films. We can only hope that his redemption story is squashed un- brought to bear upon the actor’s mo- Will Smith at least got two pay- comfortably into the final few min- tion-captured face, Smith the Younger cheques for his trouble. utes. There’s a hit Netflix descends into the uncanny valley and documentary out there shining a light emerges out the other side largely un- FILM on the little-known practice of farm- scathed. ing, and there’s also an Oscar-winning Secondly, the entire thing was shot FARMERS film about a Nigerian former skinhead in 3D and at 120 frames per second, DIR. ADEWALE AKINNUOYE-AGBAJE come good. Farming isn’t either of lending the film what Ang Lee must BY HELEN CRANE these things. believe is a hyper-realistic aesthetic, as though it’s a theme park ride and an actual giant Will Smith is cartwheel- You won’t find any sheep or cows in ing around at the front of the cinema. Farming; Lost and Suicide Squad actor But the true effect of a framerate five Adewale Akinnuoye-Agbaje’s directo- times smoother than the standard 24 rial debut tells the decidedly unpas- frames per second is that Gemini Man toral story of his upbringing as a resembles a feature length Crime- Nigerian child in 1970s Essex. watch reconstruction. You have to re- The title refers to the practice, com- sist the urge to call up Nick Ross after mon from the 1960s to 1980s, where each fight scene to let him know that Nigerian parents would ‘farm out’ you recognise one of the guys from their children to white foster parents Hitch. Everything looks too crisp, too in the hope of giving them a better life. clean, like on those new televisions Sadly that’s not how it worked out that upscale everything in the blind for the young Akinnuoye-Agbaje, pursuit of fluidity, so that even the known in the film as Enitan, who ends grittiest noir movies look like an up internalising years of racist abuse episode of Coronation Street. and becoming the unlikely flunky of Anyway, whatever framerate you the local skinhead gang. watch it at, Gemini Man is the kind of The subject matter demands vio- action flick so stultifyingly generic lence, but these scenes are delivered that you begin to forget about it while with such relentless brutality that you CITYAM.COM FRIDAY 11 OCTOBER 2019 LIFE&STYLE 29
THEATRE throw-away society. THE MAN IN THE WHITE SUIT But despite this and a handful of WYNDHAM'S THEATRE other mocking references to current day political crises which Foley must BY LAUREN CRISP have added late on in rehearsals, this is an undemanding play, an evening Originally a 1951 Ealing Studios com- of good clean fun that rarely requires edy, actor and director Sean Foley your brain to extend past first gear. brings The Man in the White Suit to Songs are performed live on stage the stage, helped out by big names with lyrics and music written in the Stephen Mangan (Green Wing), Kara ‘skiffle’ style by Noah and the Whale Tointon (Eastenders) and Sue Johnston frontman, Charlie Fink – one could (The Royle Family). happily join the cast on stage for a Mangan’s Sidney Stratton is the mad drink and a dance. The imaginative scientist who invents a fabric that use of the set, designed by award-win- never wears out, something that, after ner Michael Taylor, is a highlight, cap- the ‘make do and mend’ years of turing a kind of 1950s motion filled with works inspired by – or created of the day, including Cabaret WWII, he hopes to present to the peo- picture-age naivety. ART for – night-time drinking dens across the Fledermaus from turn-of- the-century ple of his small Lancashire town for With big bangs, fights, slapstick hu- world, celebrating the role cabaret clubs Vienna. Elsewhere you’ll visit Zurich’s the greater good. mour and plenty of one-liners, The INTO THE NIGHT had in inspiring some of the greatest Cabaret Voltaire, listen to jazz in Weimar- The managers of the textile indus- Man in the White Suit is a simple BARBICAN thinkers and creators of the 19th and era Berlin, and hang out with try, on the other hand, hoping to cash story with a big heart, a pleasant 20th centuries. revolutionaries in Mexico City. in on the nascent consumerism of the evening’s entertainment that’s un- The Barbican Art Gallery explores our Amidst the pioneering graphical Expect a full-on assault of the senses in 1950s, have other ideas. It’s a surpris- likely to blow anyone away, but which enduring fascination with cabaret clubs posters and avant garde videos are this sprawling multimedia exhibition, ingly relevant commentary on cur- sparks both reminiscence and a little and their singular place in the history of immersive installations recreating which will leave you craving a good rent issues of sustainability in our bit of reflection on modern times. modern art. The ambitious exhibition is famous spaces that impacted the artists night on the tiles.
IMMERSIVE EXPERIENCE been bitten by a zombie or not. You’re VARIANT 31 handed an air gun that will temporar- 39 NEW OXFORD STREET ily disable these “infected” and you’re tasked with swiping a wristband BY STEVE DINNEEN against tracking stations that are scat- tered throughout the vast, dilapidated There are moments during new im- space (42,000sqft located a few min- mersive experience Variant 31 that are utes from Tottenham Court Road). genuinely thrilling. Inching into a In addition, there’s a puzzle to solve, pitch-black room, gun drawn, and ten- which involves decoding a series of ob- tatively peering into a rotting Victorian scure messages found in the environ- pram, for example, sure that some hor- ment or given to you by one of the ror would lurk inside. That horror dozen or so actors. So lots to do then... came instead from behind: a zombie- But most of my 90-minute experi- like creature leapt from a dark corner, ence was spent wandering aimlessly, screaming and frothing at the mouth, occasionally bumping into fellow par- and I found myself on a 90-second ticipants who were equally stumped timer: reach a healing station or die. about what we were supposed to be Variant 31 is full of good ideas. Too doing. The tension caused by zombie many good ideas, perhaps, none of encounters is inversely proportional which are realised in a particularly to the frustration of circling the same satisfying way. It’s a mash-up between corridors over and over again, and it laser-tag, immersive theatre and an es- eventually all but fizzles out. cape room puzzle. You’re fitted with a Still, there’s fun to be had for a while, harness that lights up different and you at least get a decent workout colours depending on whether you’ve from climbing all those stairs. 30 FEATURE FRIDAY 11 OCTOBER 2019 CITYAM.COM OFFICE POLITICS I can see clearly now what firms can do
communities in Ghana. In addition, Businesses have a chance to help those we have donated our technology, such affected by blindness open their eyes as personalised diagnostic lenses and digital retinal scanners. This campaign has been fulfilling. ATELY, it has become fashion- Adam But we believe that everyone should able to talk about the contribu- Meyers have access to similar eye examina- tion of companies to society. tions and surgery if needed. We also However, in the daily routine ONLY believe that technology companies like L CONNECT of spreadsheets, email, and ours have a role to play towards the video-conferences, the “why we do eradication of preventable blindness. this” message can get lost. Transmission This is why we want to work with It is humbling therefore to confront Free many others to develop advanced dig- that most vivid of human needs – the ital imaging devices that are simpler need for eyesight – and witness the po- Life’s better to use, and employ smarter, connected tential for companies to make a life- that this number is expected to triple when we’re technology to make diagnosis and changing impact first-hand. in the coming three decades. The connected, or so treatment faster and more effective. Yesterday was World Sight Day, and worst affected areas will be in South they saying goes. The small group of colleagues who I was privileged to receive this re- Asia and Sub-Saharan Africa, where This app from joined the trip to Ghana this week minder of what we can do – and access to medical treatment cannot the Science were able to see first-hand how the what more we all need to do – at a be taken for granted – because for so Museum is a technology needs to evolve to meet hospital in Ghana. many people it is simply not there. mind-bending the diverse needs of clinicians all My company is here working with a For a company whose subsidiaries puzzle game over the world. charity called the Himalayan Cataract make devices to detect and prevent Preventable For every one of our employees who where you None of us are under any illusions Project (HCP) to help 600 local people the causes of blindness, these are sta- blindness agreed to have their eyes tested during connect about the scale of the challenge. As a regain their sight through cataract re- tistics we cannot ignore. currently one of our screening programmes, we transmitters and group which makes technologies that moval operations. A small group of us No matter where you are in the devastates the then donated to HCP to help the char- receivers in order are used in everything from fire safety are helping to prepare patients for world, early diagnosis and treatment lives of more ity bring similar standards of eye care to send and to air quality monitoring, we want to surgery that will in many cases liter- of a range of common conditions are than 30m to people in countries without access receive data and play our part in helping to grow a ally change lives: allowing parents to the best way to prevent loss of sight people to reliable screening or treatment. communicate. safer, cleaner, healthier future for see their children and grandchildren before it’s too late. worldwide Through our campaign, we have With other 70 everyone, every day. It is undoubtedly again, and for farmers to provide for One year ago, we decided to launch screened over 2,500 employees across levels to solve, a bold ambition. their families once more. an initiative that would seek to con- 33 of our operating companies for you’ll certainly But standing in a Cape Coast teach- Preventable blindness currently dev- nect what we do as a business, as an sight-threatening eye conditions. And be connected to ing hospital in Ghana, I can see a little astates the lives of more than 30m employer, and as global citizens. We we have raised more than $200,000 to your phone. more clearly how we can get there. people worldwide. Without access to ran a global campaign to first screen support the work of HCP and its sur- proper treatment, an ageing and our own employees for these common geons – enough to fund 8,000 sight- £ Adam Meyers is an executive director growing global population means sight-threatening conditions. saving surgeries for underserved of Halma. CITYAM.COM FRIDAY 11 OCTOBER 2019 PUNTER 31
THE PUNTER Tom Marriott previews this weekend’s Rugby World Cup matches RUGBY TRADER @ThomasWMarriott Japan braced for Scottish battering JAPAN VS SCOTLAND After a lacklustre display against BEATING the bookies on the handicap Japan, they bounced back by profes- betting can be tricky. sionally dispatching Russia, and a re- Unsure whether we’re going to see a sult against a Samoan side that hasn’t demolition job from the top tier na- lacked heart should be a formality. tions or a spirited performance from Samoa showed serious character the underdog, calling the winning against Japan last time out, yet still margin hasn’t been easy at the Rugby managed to lose by 19 points, and it World Cup. has ultimately been a disappointing We’ve seen the likes of Georgia keep tournament for the Samoans. Wales within 30 points, Japan beat Ire- The underdogs will be playing for land, and Tonga almost take the scalp pride, while Joe Schmidt’s side will of France, while on the contrary, we’ve look to generate some momentum to also seen a handful of 60-point slaugh- take into an enthralling knockout terings. clash against either New Zealand or On Sunday, you can call a halt to the South Africa. numbers game of handicap betting The handicap sits at 27.5 currently and lump on Scotland to beat Japan at with Sporting Index’s fixed odds, and 4/6 – it’s as simple as that. while I fully expect Ireland to achieve Confidence about taking that price a bonus point win, I don’t think the may not have been so strong after the winning margin will be that high. opening round of games, where Scot- Ireland will look to execute a clean land were convincingly beaten 27-3 by set-piece and regain some confidence, Ireland and Japan prevailed with a but Samoa will want to leave their plucky 30-10 win over Russia. mark on the tournament, so a feisty af- However, as the tournament has fair could be on the cards. panned out, Japan’s 20-point win over Samoa with a 27.5-point lead looks to Russia seems no real triumph given be about right, and Steve Jackson’s the defeated have gone on to concede men look good value for that at 5/6. a further 130 points and now have the Most of the top nations haven’t had joint-second worst points difference in it all their own way against Pacific Is- the tournament. land teams this World Cup, with Aus- The hosts have shown flashes of bril- tralia and England well-tested until liance and phases of well-structured pulling away in the final 20, and Wales play, enough to suggest that, on their also facing a scare against Fiji until late day, they could cause another upset in the day. reminiscent of their famous 34-32 win Ireland’s higher levels of fitness over South Africa four years ago. should tell in the last quarter of the However, if you simulated Scotland game, but the first half could be a tight versus Japan 10 times, the former Scotland were all smiles after a 61-0 win over Russia on Wednesday affair. would come out on top in at least Samoa (+10.5) on the first-half handi- seven or eight of them, not six as the metre scrum and the same level of To add even more excitement, a play money, while it’s hard to see Japan cap is 5/4 with Sporting Index, and if odds suggest. noise will help them lift their game on the same firm’s spreads could turn running up a big bill if things got the the game follows the patterns of previ- Add to that the fact that Scotland are once more this weekend. a nice profit. other way. ous clashes with South Sea nations, coming off the back of two big wins to There will be times where Japan light Sporting Index go 2-5 in favour of this could be an astute bet. nil against Russia and Samoa and you up the game, put Scotland on the back Scotland in their match supremacy IRELAND VS SAMOA have to fancy them to overcome Japan foot and possibly go ahead on the market, meaning they expect AS RAIN threatens to derail some of regardless of home advantage. scoreboard, but a well-drilled Gregor Townsend’s men to triumph by a very the more high-profile matchups of the POINTERS TOMORROW The crowd will be willing Japan on Townsend side should have enough to narrow margin. final weekend of group games at the and that certainly played a big part in win this. Given a shock Japan win would likely Rugby World Cup, Ireland v Samoa Samoa HT (+10.5) 5/4 them securing a bonus point over Being slightly greedy, Scotland are be achieved by the narrowest of mar- looks to have escaped the clutches of Samoa (+27.5) 5/6 Samoa in their last match. around 9/4 to win by 1-10 points, but gin, the potential downside of buying Typhoon Hagibis. SUNDAY Some 30,000 of the home crowd lets keep this one simple. Scotland at 5 looks minimal. The Irish have had an underwhelm- Scotland 4/6 roared the Cherry Blossoms over the Take the 4/6 with Sporting Index and Every point over 5 that Scotland pull ing tournament so far, yet are set to Buy Scotland 5 line for a last-gasp try off of a five- cheer on the Scots. away from the hosts you’ll be making qualify from their pool. 32 PUNTER FRIDAY 11 OCTOBER 2019 CITYAM.COM THE PUNTER RACING TRADER Bill Esdaile previews today’s card at Newmarket Cayenne
ESSICA Harrington has en- joyed plenty of success over the past couple of years. Firstly, Jshe won the Cheltenham Gold Cup in 2017 with Sizing John Pepper will and then followed up with Our Duke in the Irish Grand National. Last year, Alpha Centauri gave her a maiden Classic success in the Irish 1000 Guineas, before landing three further Group Ones. Things have been getting better and be too hot better for the 72-year-old Kildare- based trainer, and the future looks bright based on the two top level suc- cesses of two of her juvenile fillies in the past couple of weeks. First up was Millisle, who caused a shock in the Cheveley Park Stakes, to handle in and then Albigna won the Prix Mar- cel Boussac in fine style last Sunday. Harrington couldn’t have had many better fortnights in her career, but the Group One hat-trick may well be landed this afternoon in the bet365 Fillies’ Mile (3.35pm). Fillies’ Mile CAYENNE PEPPER is unbeaten in three career starts and was very im- pressive when stepped up to a mile in a Group Three at the Curragh in Au- gust. That was the first time she had en- countered cut in the ground on a Jessica Harrington has a racecourse and she handled it well, powerful squad of juvenile making all and showing a good atti- fillies this year tude. This will be her first taste of a Group One, but she is clearly a very good filly in a yard which has an embar- the prize money, it looks a wide-open two of his last three starts and was drop back to 1m4f from 1m6f should There is also a good card at York this rassment of riches in that division. contest. second to leading Cesarewitch fancy help, while he’s also proved he can afternoon and don’t miss Kevin Quadrilateral, who has been supple- The one that stands out to me is Ranch Hand at Haydock last month. handle soft ground. Ryan’s ABSTEMIOUS in the five-furlong mented for this on the back of a nine- Alan King’s TRUESHAN who has won He was a little keen that day, so the His draw in stall 17 could be viewed novice (3.15pm). length win in a conditions race at as a negative, yet four of the five win- He was devastatingly impressive on Newbury, is likely to go off favourite. JE:7OÊI8?=H79;7JD;MC7HA;J ners of this race have come from a his second start over six furlongs on She could be anything, but this is a double figure berth. soft ground back in July and I’m will- Going: GOOD TO SOFT 5 421151 LOVE (26) (GF,G) big step up and she will be taking on (8) A P O’Brien (IRE) 2 9-0 .. R L Moore: 125 He looks a more than fair each-way ing to forgive him his run in the Gim- a completely different quality of ani- price at 8/1 with Coral. crack last time on a much quicker Runs: 6 Wins: 3 Places: 1 £280,102 mal here. BET365 FILLIES’ MILE ITV4 Not many yards are in better form surface. 3.35 (GROUP 1) (1) 6 11 POWERFUL BREEZE (29)(D)(GF) Aidan O’Brien has won three of the (9) H Palmer 2 9-0 ...... James Doyle 119 than Saeed bin Suroor’s and I fancy This is a big drop in class, the £321,829 1m last five renewals, so Love has to be Runs: 2 Wins: 2 Places: 0 £44,872 his PLATINUM STAR to get punters off ground should be perfect, and he is 7 11 QUADRILATERAL (21) (GS,G) greatly respected following her win 1 3155 ANANYA (29) (G) to a flyer at 11/4 in the opening New- worth backing at 2/1. (5) R Charlton 2 9-0 ...... J Watson 118 in the Moyglare Stud Stakes last (1) P Chapple-Hyam 2 9-0 ...... B Doyle 112 market Academy Beacon Project Runs: 2 Wins: 2 Places: 0 £14,734 month. Runs: 4 Wins: 1 Places: 1 £9,172 Cornwallis Stakes (1.50pm). 8 21 QUEEN DAENERYS (20) (CD) (GF) @BillEsdaile
However, she was disappointing the 2 41 ANASTARSIA (16) (D) (A) (4) R Varian 2 9-0 ...... W Buick 104 He has finished in the first two on
only time she has run on yielding (7) J Gosden 2 9-0 ...... L Dettori 99 Runs: 2 Wins: 1 Places: 1 £7,177 five of his six starts, the only failure Runs: 2 Wins: 1 Places: 0 £4,252 ground which has to be a concern. 9 1518 WEST END GIRL (29) (GF) coming over seven furlongs behind Powerful Breeze comes into this un- 3 4112 BOOMER (29) (GF,G) (2) M Johnston 2 9-0 ...... A Kirby 117 the top-class Pinatubo in the Vintage POINTERS TODAY (6) T Dascombe 2 9-0 ...... R Kingscote 117 beaten, but she is also unproven in Runs: 4 Wins: 2 Places: 0 £36,277 Stakes at Glorious Goodwood. Runs: 4 Wins: 2 Places: 1 £48,349 the conditions, so Cayenne Pepper 2018: Iridessa 2 9 0, W M Lordan 14/1 (J P O’Brien), 8 ran. He ran an excellent race to be sec- Platinum Star 1.50pm Newmarket
4 111 CAYENNE PEPPER (42)(D)(G,GF,GY) :BETTING: 9/4 Quadrilateral, 11/4 Cayenne Pepper, 3 Love, Newmarket looks the best bet at 11/4 with Lad- ond to Southern Hills in the Windsor Cayenne Pepper 1.50pm (3) Mrs J Harrington (IRE) 2 9-0 ....S Foley 124 13/2 Powerful Breeze, 12 Anastarsia, 14 Boomer, Abstemious 3.15pm York brokes. Runs: 3 Wins: 3 Places: 0 £67,436 16 Queen Daenerys, 20 Others Castle Stakes at Royal Ascot on soft Next up is the bet365 Old Rowley ground, so conditions should be fine Trueshan e/w 4.10pm Newmarket Cup (4.10pm) and, as you’d expect for for him this afternoon. CITYAM.COM FRIDAY 11 OCTOBER 2019 PUNTER 33
RACING TRADER Bill Esdaile previews this weekend’s action from Newmarket O’Brien’s Wichita can give Pinatubo a true test in the
Dewhurst Stakes Wichita was a very impressive EWMARKET takes centre O’Brien’s WICHITA at around the 4/1 winner of the stage again tomorrow with mark. Tattersalls all eyes on Godolphin’s He took a giant step forward from Stakes last time NPinatubo as he bids to make defeat at Doncaster just over four it a perfect six out of six in weeks ago to rout his rivals in the the Darley Dewhurst Stakes (3.30pm). Group Three Tattersalls Stakes here opening nursery (1.45pm). meupbuttercup. friend COEUR DE LION at a whopping The son of Shamardal landed the last time. The son of Dark Angel should relish She was second in the Ascot Stakes at 28/1. first Group One of his career in last Admittedly, he needs to step up the recent rain and was an impressive the Royal meeting back in June and Alan King’s six-year-old never landed month’s National Stakes at the Cur- again dramatically to ruffle the winner on similar ground at Salisbury has run well in Ireland twice since. a blow in this race last year, but the ragh by a breathtaking nine lengths favourite’s feathers, but he is defi- back in August. Frankie Dettori takes the ride and she ground would have been far too lively. and is no bigger than 1/3 to round off nitely on the upgrade and we may not Stepping up to this seven-furlong trip is bound to come in for more support. He seems in much better form a year his season with another top-flight suc- have seen the best of him yet. is another big positive and there is She is 7lbs higher in the weights than on and with rain in the air, he looks cess. The fact that he handles the track is every chance that his opening handi- at Ascot and it wouldn’t surprise me if the value call in what is a wide-open He seems to be improving with every another huge positive and Pinatubo cap mark of just 87 may be a tad le- Great White Shark, another of his run- race. start and has at least a stone in hand will be having his first experience of nient. ners, fared a little better. on all of his rivals according to official Newmarket tomorrow. The big betting race of the afternoon Sir Mark Prescott has two big chances @BillEsdaile ratings. They are both two hugely exciting ju- is the Emirates Cesarewitch Stakes with Land Of Oz and Timoshenko, but Bookmakers already have him as the veniles and I am prepared to gamble (4.10pm), which once again sees a max- both have been well found in the mar- red-hot favourite for next year’s 2000 on the fact that the market may be ex- imum field of 31 battle it out over ket. POINTERS TOMORROW Guineas, with only Ladbrokes of the aggerating Pinatubo’s dominance of 2m2f. Ranch Hand is another who has major firms offering odds-against at the division. Irish champion trainer Willie halved in price this week and will Ascension 1.45pm Newmarket 5/4. Ryan Moore could be in for a good Mullins saddled the first two home 12 surely be a factor if he stays the trip. Wichita e/w 3.30pm Newmarket However, at the prices, I’d far rather day as he is booked to ride the exciting months ago and once again has a very With an unsettled forecast, I’m going Coeur de Lion e/w 4.10pm Newmarket take him on each-way with Aidan ASCENSION for Roger Varian in the strong hand with the favourite Build- to give another each-way chance to old No Drama for Johnny and Lampang on the Knavesmire
ING Power Racing have had an ex- the Knavesmire where I expect King ago in another novice on good-to-soft Ladbrokes to keep up that run. Newbury, but a return to this track Kcellent season, with Morando’s win Power’s LAMPANG to take all the beating ground, which indicates he will have no It could be a fantastic afternoon for with a bit more cut in the ground in last Saturday’s Cumberland for Tim Easterby. problem with tomorrow’s surface. the owners, as I also like Andrew should see him go close at 9/2 with the Lodge Stakes the latest Group level prize It is rare for the Easterby yard to have Silvestre de Sousa, recently back from Balding’s JOHNNY DRAMA in the Smart sponsors. the operation has snared this campaign. a debut winner, so my selection went injury, is heading up the A1 rather than Money’s On Coral Handicap (3.15pm). After such a difficult 12 months, they into plenty of notebooks when staying at home in Newmarket, and you He ran a cracking race to be second have been rewarded with plenty of impressively landing a six-furlong can be pretty sure the main reason is to Forest Of Dean over course and POINTERS TOMORROW success and I can see them celebrating Carlisle novice event after blowing the this son of Dandy Man. distance two starts back when the again at York tomorrow. start. Easterby has won this prize three ground was probably a little quick for Lampang 2.40pm York The coral.co.uk Rockingham Stakes Highly regarded by his trainer, he times in the past seven years and I will him. Johnny Drama 2.40pm York (2.40pm) is the best quality contest on bolted up at Ripon a couple of weeks be backing Lampang at 6/4 with He disappointed last time at 34 SPORT FRIDAY 11 OCTOBER 2019 CITYAM.COM SPORT
S THE Rugby World Cup is thrown into turmoil by Ty- phoon Hagibis, England have Afled the eye of the storm. World Rugby’s unprece- dented decision to cancel two fixtures in Tokyo and Yokohama that were set to be hit by 100mph winds has en- sured England will top their pool ahead of France and likely meet Aus- tralia in the quarter-finals. England did not hesitate to change their plans, flying back back to their original base in Miyazaki, south-west Japan, close to the location of next weekend’s fixture, while Eddie Jones called the extra preparation time “ideal”. World Cup-winning former skipper Lawrence Dallaglio agrees with the head coach, even if the match with France was a chance to get battle- hardened ahead of harder ties. “It’s a resort by the sea and an op- portunity for them to get away from the problems that the tournament and Tokyo is facing,” Dallaglio told City A.M. “Eddie Jones has great experience of how to manage situations in Japan, having spent a lot of time there, and has decided their preparation is best STORM BREAK served by being out of the typhoon and down in the south. “It gives them a chance to get Billy Vunipola fit and Owen Farrell back on Cancelled match can help England at the Rugby World Cup, his feet. You can understand why Michael Searles Jones is delighted about the break be- former skipper Lawrence Dallaglio tells cause it means he doesn’t have to jug- gle his squad. He can let the medical team go to work and do what they rienced for over 26 years. how severe an impact the typhoon other in the final, but England have “I still feel this tournament has a need to do. “It’s terribly unfortunate for every- will have, although meteorologists got the firepower to take each chal- wonderful air of unpredictability “But equally the France game was one. [Tournament director] Alan have said it is four times bigger than lenge head on. about it. Nothing has happened in the probably a test that England needed Gilpin and his colleagues have acted Typhoon Faxai which left three dead “They will have to play the All Blacks pool stages to suggest that anyone can before the quarter-finals.” swiftly and decisively. Yes, it’s hugely last month. at some point, but I think they say for certain who is going to win.” disappointing for the fans who have Scotland’s make-or-break game with showed for 40 minutes at Twicken- While the 15-man version of the RESPECTING WEATHER forked out a lot of money to travel to Japan on Sunday is also at risk of can- game reaches its pinnacle later this England will now have 14 days be- Japan, and for the teams and players, cellation, with organisers set to de- month, Dallaglio will also have one tween games, while Australia, who but the reality is that no rugby match cide its fate as late as six hours prior eye on a new five-a-side format, Rugby were due to face Georgia this morn- is more important than the safety to kick-off. If it is also cancelled and X, hitting London’s O2 on 29 October. ing, will only have eight. and preservation of human Ireland beat Samoa tomorrow, Featuring a host of Sevens interna- It is one of many potential conse- life. Scotland will be eliminated. tionals, the all-action 10-minute quences of cancelling matches that “Every coach and adminis- I can understand games are aimed at making rugby fans and unions are likely to use as trator agreed until the end UNPREDICTABILITY more accessible to new audiences. ammunition against World Rugby, of the pool matches that That is not England’s con- why Eddie Jones is “I’d almost call it rock ‘n’ roll rugby,” particularly if the typhoon does not if anything had to be cern, however. As others delighted because says Dallaglio, whose charity Rugby wreak the chaos anticipated. Italy, cancelled for this reason are left to deal with the ty- Works is a partner of the event. meanwhile, have been eliminated as the points would be phoon fallout, Jones will be it means he “I can see it being rugby’s T20 mo- a result of their scheduled match shared. Everyone signed getting his side ready to take ment and taking off around the coun- with New Zealand being axed. up not believing for one on the best in the world over doesn’t have to try and around the world. Next year But Dallaglio (pictured right) does second it would happen, the coming weeks. the plan is to roll this out in five cities not blame the organisers. but it appears the only “They are three games away juggle his squad across the UK and for it be played over “We have to appreciate this is some- person that thought it from winning a World Cup,” three weeks. thing very serious,” he added. “This is might was Eddie Dallaglio says. “Every game now ham [last year] that they are more “I’ve been to Hong Kong and Dubai not about not respecting rugby, it’s Jones.” is a challenge and they are than a match for them, but they also and I’ve seen what seven-a-side rugby about respecting the weather and the At this stage going to have to go to are aware that if they want to get to a can do. There’s no doubt that five-a- power and havoc it can cause. This is it is not Australia, New final they’ve got to do it for 80 min- side rugby could do something even the largest typhoon Japan have expe- known Zealand and one utes. bigger.” Wales at a disadvantage but can feed on French disarray YPHOON Hagibis may not RUGBY the quarter-final next Sunday. In my Biggar suffered a second head injury coach Jacques Brunel at loggerheads have directly affected experience you don’t lose match and has been ruled out of the with captain Guilhem Guirado. Wales’s Rugby World Cup COMMENT sharpness over that kind of period Uruguay game, which will be a worry They have won all three of their Tfixtures but the tropical cy- and not playing is definitely prefer- for Gatland. Winger Josh Adams got a games so far but haven’t impressed clone has still managed to Ollie able to overplaying. dead leg, while the knee injury to cen- and their shambolic situation could leave them at a considerable disad- That gap is in stark contrast to tre Jonathan Davies could be a real go either way. Will the French be gal- vantage. If, as expected, Wales win Phillips Wales, who were forced to battle to a problem as he’s absolutely vital. vanised and fired up by the discord, their final group match against 29-17 victory over Fiji on Wednesday The positive for Wales is that they or will they crumble? Uruguay on Sunday they will finish and now face Uruguay this weekend. haven’t hit their straps yet and they Gatland is a pragmatic man and if top of Pool D and set up a quarter- By the time they play France it will be came out on the winning side of the Wales can get past Uruguay without final clash with the runner-up in Pool ready qualified for the knockout three Test matches in 11 days. best game of the tournament so far drama on Sunday then his side will be C, France, on 20 October in Oita. stages, would have been on a hiding Wales did well to come through and against Australia. They showed their fully prepared to topple the French in Although Wales head coach Warren to nothing in Yokohama. beat Fiji after being 10-0 down, but maturity and found a way to wrestle the next round. Gatland will be pleased with the Instead, the intervention of poor they made lots of basic errors and back control, and I think they’ve got draw, the cancellation of England’s weather means France will have had were left battered and bruised by the more to give. Ollie Phillips is a former England Sevens game against France on Saturday is a the luxury of a two-week break be- encounter. After being forced off in France will be fresh as daisies next captain and now a director within the real positive for the French who, having al- tween their 23-21 win over Tonga and the win over Australia, fly-half Dan Sunday, but they are in disarray with estate and construction team at PwC. CITYAM.COM FRIDAY 11 OCTOBER 2019 SPORT 35
SCOTLAND STUFFED SCOTS OPTIMISTIC BUT WALES DRAW SPORT DIGEST OVER JAPAN MATCH DUTCH DELIGHT £ Scotland were thrashed £ Gregor Townsend says he 4-0 by Russia last night as SILVERWOOD TO USE believes Scotland’s crucial Depay double sees Steve Clarke’s side suffered OLD SCHOOL VALUES Rugby World Cup fixture with their fourth successive Euro £ Chris Silverwood has Japan will go ahead on Holland spark late 2020 qualifying defeat in vowed to instill old- Sunday, despite the threat of show and down Moscow. Artem Dzyuba fashioned values in his Typhoon Hagibis. Two netted twice as the hosts England side after taking Saturday games have been Northern Ireland scored four second-half over as head coach. The 44- cancelled and declared goals. The Scots are fifth in year-old former Essex coach draws over safety concerns – Northern Ireland’s hopes of qualifying Group I and no longer have a stepped up from bowling an eventuality which would for Euro 2020 took a blow last night as chance of finishing in the top coach to replace Trevor eliminate Scotland – but Holland came from a goal behind to two places. Elsewhere, Wales Bayliss and has made Townsend is optimistic. win 3-1 last night. Josh Magennis’ drew 1-1 in Slovakia as England’s shaky top order his “We’ve been told now that 75th-minute header had the visitors Kieffer Moore’s first goal for priority. “One thing we’ll look Sunday looks clear,” the head ahead, but Memphis Depay (pictured) his country was cancelled at is building a batting group coach said. “We’ve got to poked the Dutch level, before Luuk De out by Juraj Kucka’s volley. that can bat long periods of believe and have faith that Jong and Depay added further goals The result leaves Wales fifth time,” he said. “It sounds the game will be played even in injury time to move top of Group C. in Group E, with seven points old‑fashioned but we’ve got if it’s behind closed doors or from five games. to recognise that.” a different venue.” Time for Mount to get England starting chance Chelsea rookie should replace Barkley against the Czechs, says Felix Keith
OURNAMENT qualifiers hold 11 appearances this season, his path a strange significance for to a first England start appears diffi- England. On one hand they cult, with captain Harry Kane, Callum are fully-fledged competitive Wilson and Rashford vying for a sin- internationals which need to gle centre-forward role in Southgate’s beT won in order to reach World Cups favoured 4-3-3 system. Likewise, new- and European Championships. But on comer Fikayo Tomori finds himself as the other, England haven’t lost one in the fifth centre-back in the squad. 43 instances – an unbeaten streak However, one youngster who should which dates back almost exactly 10 be pencilled in for minutes is 20-year- years, since a 1-0 defeat to Ukraine on old Mason Mount, who is both in- 10 October 2009. form and an improvement on the With qualification therefore almost incumbent in his position. always assured the approach the The Chelsea midfielder, who has Three Lions should adopt is up for de- come off the bench in England’s last bate. Should they play the strongest two qualifiers, is enjoying a break- side possible in order to build confi- through season, with four goals and dence and team chemistry for the up- one assist in the Premier League. coming tournaments? Or use the James Maddison, who has been simi- weaker opponents as an opportunity larly impressive for Leicester, would to blood youngsters? also be in the frame had he not As is often the case, Eng- been forced to withdraw from land are currently top of the squad by illness. their Euro 2020 qualify- Mount merits a start ing group with a perfect and, with Dele Alli, Jesse record and a goal dif- ference of +15 after just Mount is vying for a place four games. They face in the England side, who the Czech Republic in play in Prague tonight Prague this evening, where a win would con- Lingard and Alex Oxlade- firm their place in next Chamberlain not in the summer’s finals, before trav- squad, only club colleague elling to Sofia to play Bulgaria Ross Barkley stands in his way. on Monday. Barkley has started the last two Eng- To his credit, Gareth Southgate’s land games alongside Henderson and reign as manager has been defined by Rice in a three-man midfield but, in his willingness to give chances to keeping with his career, the perform- younger, less established talents and ances have been inconsistent. Mount his current crop reflects that. The av- has been keeping the 25-year-old out erage age of the squad is 24, with Jor- of Chelsea’s side of late and that trend dan Henderson, Kieran Trippier and should extend to the national side. Danny Rose the oldest players at 29. Former Everton man Barkley has ful- Southgate has already given game filled the box-to-box midfield role for time to the likes of Marcus Rashford Southgate and, although he might be (21), Jadon Sancho (19) and Declan more physically suited to it than Rice (20), so with England’s presence Mount, the younger man is more at Euro 2020 all but confirmed, now than capable of stepping in against is the time to usher in more up-and- sides who were beaten 5-0 and 4-0 in coming players. the reverse fixtures. Southgate hasn’t While Chelsea’s 22-year-old striker shied away from handing out oppor- Tammy Abraham is fully deserving of tunities. The time is right for the next a call-up having scored nine goals in protege to be initiated.