20 HOT PROPERTY FRIDAY 27 SEPTEMBER 2019 HOTPROPERTY CITYAM.COM ALL YOU NEED TO KNOW ABOUT THE LONDON PROPERTY MARKET

BUSINESS WITH PERSONALITY Edited by Helen Crane

NEW BUILDS NEW DEVELOPMENTS ON THE MARKET THI S WEEK BUILD UP THE RIDGEWAY VIEWS, MILL HILL Buyers looking for a leafy, suburban location on a budg check out L&Q’s Ridgeway Views, launching this Saturet will want to ownership homes ar e located in Mill Hill, c day. The shared Park, Arrandene Open Sp lose to the 35-acre Mill Hill ace and Featherstone Hill. The fir 131-home development c st phase of the omprises one, tw apartments, starting at £93,125 f o and three-bedroom or a 25 per cent share of a one-bed. BIG SCREEN WEEKEND  Visit millhills HOMES HITTING haredownership.co.uk

BELVEDERE GARDENS, SOUTH BANK WESTERN CIRCUS, ACTON From £2.25m orf a two-bed THREE WATERS, BOW THE MOVIES EVERYBODY From £449,000 f The final 19 apartments have just b or a one-bed THE QUARRY, ERITH een r From £340,000 for a studio Belvedere Gardens, Braeburn Estates’eleased luxury at Western Circus is one of the fir NEW HEIGHTS IN st opportunities to buy a From £225,000 f development on the sit e where the Festival of Britain home off-plan in the £26bn r This weekend, Mount Anvil and P or a studio was held in 1951. The two and thr Old Oak egeneration scheme at eabody will launch ee-bed homes and Park Royal, which is se the final 47 homes at Thr The Anderson Group and L&Q will launch The Quarr feature floor-to-ceiling windows, and many have viewsmajor transport int t to become a ee Waters in Bow. Known as erchange when Crossrail arrives in The River Collection, the st a collection of st over the London Eye and Houses of P 2021. Developed by Barr udio and one udio, one, two, three and four-bedy, att London, Western Circus apartments are located at the c -bed homes in Erith in t interiors have been designed b arliament. The will comprise 364 one, two and thr onfluenc he London Borough of Bexley, this y Goddar waterways: Bow Creek, the River Lea eand of three Limehouse Saturday. Built on the include full-size baths, walk-in wardrobesd Littlefair and bespok and many of which ar ee-bed homes – site of a former working quarr e eligible for Help to Buy – as well as a Cut. The building has a distinctive r it is being mark chandeliers. Residents will also benefit fr e supermarket and community café. There are a total of ed brick façade, eted as an ‘ecologically consciousy, peaked roofs and projecting b development’ wher a swimming pool, sauna and gym. om access to six apartment blocks at West alconies, which ar e efforts have be designed for residents t e and enhanc en made ot retain for completion from summerern 2021. Circus, which is due o sit and enjoy the w e the ecological value of the land, Call 0207 001 3600 or visit southbank It also has aoof r garden, concierge serviceater and views. including by inst screening room. alling bird boxes and insect houses -place.com Call 033 3355 8497 or visit barr and planting trees. All of the apartments are eligible attlondon.com for Help t INTERIORS Call 020 7776 5755 or visit mount o Buy and have outdoor space and parking. anvil.com Call 0333 0033 737 or visit lqhomes. The new brand PROPERTY OF THE WEEK com/thequarry LONDON P20-28 putting ‘waste An explosion of NEW DEVELOPMENTS marble’ to use Cuban colour A look inside IS TALKING ABOUT P30-31 P24 in Notting Hill Mayfair’s ‘most P26 luxurious’ let P28 FRIDAY 27 SEPTEMBER 2019 ISSUE 3,466 CITYAM.COM FREE

JACQUES CHIRAC Totemic figure MPS SET TO in French politics dies aged 86 GRILL COOK

EXECUTIVESALEX DANIEL Labour MP Rachel Reeves, chair of the The committee will also question @alexmdaniel business select committee, said the Thomas Cook’s auditors PwC and EY, collapse “has uncovered what appears as well as business secretary Andrea THOMAS Cook bosses will be hauled in to be a sorry tale of corporate greed, Leadsom, over concerns about audit front of MPs in the coming months raising serious questions about the ac- practices at the firm and delays to and forced to explain the firm’s cata- tions of Thomas Cook’s bosses and long-promised government reforms of strophic collapse, which left 150,000 their stewardship of the business”. the profession as a whole. Brits stranded abroad and forced the “This latest corporate failure has In 2018, EY urged Thomas Cook to biggest peacetime repatriation in his- shone a light once again on the use of strengthen its accounting methods, tory by the British government. aggressive accounting methods to aid warning it had falsely enlarged profits, After meeting yesterday, the Com- bumper pay-outs to company execu- potentially enabling higher bonus pay- mons’ business select committee tives and the apparent inability of outs at the top. JOE CURTIS A towering figure in French politics agreed to launch a wide-ranging in- auditors and regulators to curb these The Financial Reporting Council said @joe_r_curtis for decades, his latter years were quiry into why the holiday giant came practices in the wider interests of earlier this week it is also considering dogged by corruption allegations crashing down to earth, putting most shareholders, investors, and the casting the spotlight on firm’s ac- FORMER French President Jacques that he was eventually found guilty of its 9,000 British workers out of a job. public,” she added. countants “as a matter of urgency,” Chirac has died aged 86, it was of in 2011, and given a two-year The probe will focus in part on what More details of the firm’s dire finan- while Leadsom has written to the In- announced yesterday. suspended sentence. some MPs called the “corporate greed” cial state have emerged since Monday’s solvency Service, instructing officials Chirac was France’s head of state Yesterday, current President of top-level bosses. It will involve bankruptcy announcement. to hasten their own investigation. from 1995 to 2007 and spent 18 years Emmanuel Macron said that Chirac grilling chief executive Peter Fankhauser told the High Court this Separately, the Financial Conduct as the mayor of Paris. “embodied a certain idea of France” Fankhauser, chair Frank Meysman and week that the firm had a balance sheet Authority (FCA) is looking into Thomas The former president is who had led an “independent and finance boss Sten Daugaard, and deficit of more than £3.1bn, adding Cook’s statements to the market in its remembered for his roguish charm proud” nation. comes amid mounting political anger that if it had not gone into compulsory final weeks. Investors have expressed and his enthusiasm for the European Despite his status as one of the over the pay and bonuses of top brass liquidation it would have run out of concerns the firm did not report a Union, as well as his opposition to continent’s leading politicians, as the company’s fortunes tanked. cash by 4 October. fatal extra demand from its lenders for the invasion of Iraq in 2003. Chirac’s joie de vivre was legendary. City A.M. understands the block- Bosses have taken home £20m in £200m promptly enough, and the FCA “It is always the worst of solutions, France will hold a day of mourning buster evidence sessions with top exec- bonuses in the last five years, £8.3m of should have subsequently intervened because it brings death and misery,” for Chirac on Monday alongside a utives are likely to begin this autumn. which have gone to Fankhauser. to stop the company trading shares. he said at the time. memorial service in Paris. No Waterloo Sunset: City still growing with jobs increasing since 2017 JAMES BOOTH the City held 507,000 workers in “No longer just a world-leading However, nationally, the number in the City, it is a concern that @Jamesdbooth1 2018, up from 495,000 in 2017. hub for financial and professional of workers in financial services and sector jobs have decreased across Catherine McGuinness, policy services, the City has diversified insurance dipped slightly from the UK and in wider London, THE NUMBER of workers employed chair at the City of London and is now home to a vibrant 1.025m to 1.021m. particularly in the context of in the Square Mile broke half a Corporation, said: “The fact that creative and tech sector — adding The number of financial services Brexit,” McGuinness said. million last year as the City the number of jobs in the Square further to its burgeoning offer.” and insurance jobs in London as a “In order to give the UK the best continued to grow despite ongoing Mile has continued to grow amidst The number of workers in whole also fell slightly from start to our post-Brexit chapter, political uncertainty. such uncertainty is a tribute to its financial services and insurance in 366,000 to 362,000. government must make avoiding a Data released yesterday by the enduring attractiveness and the City increased from 172,000 to “While we are pleased to see an no-deal Brexit the absolute Office of National Statistics showed strengths. 178,000 last year. increase of financial services jobs priority,” she added.

FTSE 100▲ 7,381.08 +61.09 FTSE 250▲ 19,818.61 +43.69 DOW▼ 26,891.12 -79.59 NASDAQ▼ 8,030.66 -46.72 £/$▼ 1.232 -0.004 £/€▼ 1.123 -0.001 €/$▼ 1.092 -0.002 02 NEWS FRIDAY 27 SEPTEMBER 2019 CITYAM.COM

C’MON, FEEL THE NOISE Unions pledge October disruption in complaints over rising noise levels on the London Underground THE CITY VIEW Tories must rediscover their economic DNA

S THE Tories — or at least, some of them — head to Manchester for their conference next week, there will be a Atemptation to respond to Labour’s spending giveaways with a flurry of their own. For all of the opposition’s ability to turn an open goal into an own goal, they are to some degree setting the domestic agenda. The blueprint laid out in Brighton by Jeremy Corbyn and his comrades would cost hundreds of billions of pounds and be economically ruinous, but when two Tory chancellors in a row have made spending commitments a virtue, it’s hardly a surprise that Labour feels perfectly relaxed about turning on the taps without fearing a flood of negative coverage. But instead of going pound-for-pound with a Labour heavyweight that will always go further, the Tories must resist the urge to give up on the only thing the TUBE drivers are set to launch industrial action next month over the noise levels of train tracks, saying they cause “distraction, discomfort and anxiety” for drivers and passengers. The RMT railway union said 95 per cent of drivers voted in favour of taking public ever rewards them for: competent economic action in a ballot covering the Jubilee, Central, Northern and Victoria lines but pledged that it would stop short of striking. management and policies that help those who want to Tories should run get on in life. That means on their economic that whilst the Institute for record, not try to Fiscal Studies today raises the alarm at Boris’ bonanza of imitate Corbyn Government plans to use tax cuts and the hole they might leave in the Treasury’s finances, suggesting such a wholesale reduction across the board would be high-risk, the party would still be wise to retain a focus on efforts to leave more cash in the public’s pocket. In EU law to secure Brexit addition, economic growth is just as important as revenue extraction and when (or if) a Tory budget comes it is expected to CATHERINE NEILAN be unashamedly pro-enterprise. On tax rates, Sajid Javid has would see the government point to Law, by passing an Order of Council to @CatNeilan the fact that Article 50’s timetabling suspend the Act until after 31 flirted with lowering corporation tax as well as helping those on rests under EU law, while the Benn October.” the lowest incomes. He understands, instinctively, that money SENIOR government figures believe it Act is enshrined in British law. But Major warned: “If this route is deployed in productive enterprise, either through company is possible to circumvent parliamen- “European law usurps British law,” a taken — it will be in flagrant defiance tary legislation designed to delay source told City A.M. “That means the of Parliament and utterly disrespect- investment or consumer spending, pays dividends. The Brexit by invoking European law's Article 50 deadline trumps the Benn ful to the Supreme Court.” temptation to spend can be overwhelming for a government — supremacy over British law, City A.M. Act.” A government source told City A.M.: especially one facing an election. But one of the key — if not the understands. Number 10 has repeatedly said it “The authors of the Surrender Bill key — question voters ask themselves before heading into the Under the hastily-passed Benn Act, will comply with the law, while simul- want to prevent us from leaving the the Prime Minister must write to the taneously insisting the UK will leave EU and force an extension. But inter- booth is who they trust on the economy. A policy of sensible, EU seeking an extension to Article 50 the EU by Halloween. This plan could pretations of complying with the bill measured, deliverable tax cuts in a growing economy would be a — the mechanism by which Britain is see both seemingly contradictory differ. One view is that the PM will be more effective long-term bet that a deluge of spending leaving the Union — if no Brexit deal statements come to fruition. forced to send a letter stopping us commitments. Put simply, when it comes to the economy, the secures parliamentary approval by Details of the plan — described by from leaving on 31 October. That is 19 October. one high ranking Tory MP earlier this not our view.” Tories could do worse than to run on their record. Advocates of the act believe it has week as “a legal wheeze” — are said to Downing Street declined to com- effectively bound Boris Johnson’s have been revealed to an inner circle ment last night. hands, necessarily resulting in delay- of party-faithful business people this Despite the furore over the suspen- ing Brexit until 31 January and re- week. sion of parliament, the commons ad- moving the possibility of a no-deal Meanwhile, former Prime Minister journed yesterday afternoon and will departure. and Remain campaigner Sir John not sit until Monday. MPs did, how- However, a closely guarded plan Major gave a speech saying he be- ever, vote not to take a brief recess Follow us on Twitter @cityam known to a small handful of aides lieved the plan was to “bypass Statute during Tory conference next week.

FINANCIAL TIMES THE TIMES THE DAILY TELEGRAPH THE WALL STREET JOURNAL KPMG SWITCHES 820 STAFF WHAT THE PEER-TO-PEER LENDERS BARCLAYS CALLS UP TWO BIG NISSAN’S CHIEF EXEC HUNT FROM ADVISORY TO AUDIT OTHER GIVEN LAST WARNING NAMES TO SIT ON BOARD FOCUSES ON THREE PEOPLE KPMG has moved 800 staff and about The City regulator has warned Britain’s Barclays chair Nigel Higgins has shaken Nissan’s search for a new chief 20 partners from its advisory division PAPERS SAY peer-to-peer lending industry to “act up the bank’s board by hiring two well- executive is focusing on three into its audit department in preparation now” to clean up poor practices or face known financiers following pressure candidates. They include Takeshi for a possible forced break-up. KPMG THIS a “strong and rapid” crackdown. The from investors to bring in fresh faces. Niinami, chief executive of Japanese said it was “working on creating a Financial Conduct Authority told chief The bank has hired Dawn Fitzpatrick, beverage giant Suntory, Jun Seki, the model which gives our audit practice MORNING executives of platforms which arrange the investment chief for George Soros’ Nissan executive overseeing the greater independence from the rest of billions of pounds’ worth of loans to fund management firm, and Mohamed company’s business recovery, and the business, while ensuring our address concerns and accused some El-Erian, economic adviser at Allianz, as Ashwani Gupta, the chief operating auditors have access to the benefits a lenders of exposing ordinary investors non-executive directors. officer of Mitsubishi Motors. multidisciplinary firm brings”. to undue risks. MCDONALD’S AND BEYOND APPLE WEIGHS DOUBLING EXXONMOBIL SELLS NORWAY WEWORK TO SELL EX-CHIEF LAUNCH PLANT BURGER DOWN ON SUPPLIER RESCUE ASSETS TO VAR FOR $4.5BN North Sea to place greater focus on US EXECUTIVE’S PRIVATE JET McDonald’s will serve Plant, Lettuce, Apple is looking at doubling its planned ExxonMobil has agreed a $4.5bn shale. The deal, which is expected to Wework is to sell the private jet its co- Tomato or PLTs made with Beyond investment in financially strapped (£3.65bn) deal to sell the bulk of its complete in the fourth quarter, is for founder Adam Neumann used. The Meat’s pea-protein burgers during a 12- display supplier Japan Display after Norwegian assets to Var Energi, as the more than 20 stakes Exxon holds in company bought the Gulfstream G650 week test starting next week at 29 Chinese investment firm Harvest Group US energy major retreats from the fields largely run by Norway’s Equinor. for $60m (£48.7m) last year. restaurants in Ontario, Canada. pulled out of a planned bailout deal. CITYAM.COM FRIDAY 27 SEPTEMBER 2019 NEWS 03 RAINED OFF Hackers ‘tried London retains Monsoon legal challenge is scrapped to steal Airbus BRITISH Land is said to have plane secrets’ world crown for withdrawn its legal challenge to Monsoon Accessorize’s ALEX DANIEL restructuring plan, giving the fashion retailer the green light to @alexmdaniel implement the rescue AIRBUS fell victim to a spate of proposals. The landlord has cyber attacks over the past few green finance agreed to abandon a case that months via the computer systems of could derail the chain’s company its suppliers and contractors, AFP voluntary arrangement (CVA), news agency reported yesterday. SEBASTIAN MCCARTHY “quality” ranking for its green finan- Sky News reported. The CVA The world’s second-largest cial products and services, Amster- proposals will see Monsoon aerospace group, which is also one @SebMcCarthy dam took the number one spot in a store rents cut by between 25 of the world’s foremost weapons LONDON has retained the top spot in separate “depth” ranking, which is per cent and 65 per cent. manufacturers, admitted it “is a a major ranking of the world’s best measured by the intensity of green target for malicious actors,” but hubs for green finance. finance activity in the financial would not confirm the reports. According to a respected global centre compared with all finance Security sources suspect a link to index out today, the capital has kept activity. China, however the Asian its eco-crown despite a number of The report, shown exclusively to City superpower has repeatedly denied European neighbours being hot on A.M., found that awareness and involvement in hacking. its heels. concern about biodiversity risk Neither the China’s foreign Western Europe’s financial sector within the financial services sector Micro Focus overhauls executive ministry nor its official cyber continues to dominate the charts for was still at “an extremely low level regulator responded to requests its sustainability, infrastructure and despite its potentially catastrophic for comment. human capital, with the top five spots impacts on financial asset values, the pay after shareholder backlash AFP reported the most recent on the table all being filled by cities economy, and the planet”. attacks were mounted via French on this side of the continent. “The strength of western Europe in JAMES WARRINGTON the scheme’s “overall structure”. tech consultancy Expleo, FTSE 100 Yet the global green finance index, green finance is shown clearly in this, Shareholders also hit back at engine maker Rolls-Royce and two which is produced by consultancy as is the opportunity for smaller and @j_a_warrington changes made last year to additional further French subcontractors who Z/Yen in partnership with Finance emerging financial centres to take a TROUBLED software firm Micro share grant awards and the bonus were not named. Watch, also warned that London’s leading role,” said Michael Mainelli, Focus yesterday said it will overhaul granted to the finance director as An Airbus spokesperson added: position at the top could come to an executive chairman of Z/Yen. its executive pay policy following a part of his recruitment package. “Airbus continuously monitors end in the next 12 months, in part He added: “All financial centres and backlash from shareholders. Micro Focus has tapped Goldman activities on its systems, has because the UK has not yet issued a financial services businesses need to The London-listed company said it Sachs to carry out a strategic review detection mechanisms in place and sovereign green bond. do more if we are to meet the world’s had reviewed its remuneration policy into its business after it lowered takes immediate and appropriate While London came top in the needs for environmental change.” after investors raised concerns about revenue forecasts for the full year. actions when needed.”

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CITYAM.COM FRIDAY 27 SEPTEMBER 2019 NEWS 05

EDITOR’S NOTES News and views from the City, Westminster & beyond CHRISTIAN MAY @CHRISTIANJMAY [email protected]

Labour’s conference COOKING UP £ Nobody comes out well from the debate over AN OCCASION language currently gripping revealed a party unfit CITY chiefs have moved to Westminster. The PM was modernise their hospitality crass in response to concerns for anything but protest offering by relaxing their raised about threats sent to dress code, but one thing that female MPs and he should be HESE are heady days for what we know: 62 per cent of will remain unchanged is the held to a higher standard. Tpolitical junkies, what with them would do away with the quality of the food. If you However, it’s a bit late in the Supreme Court rulings, the monarchy, 43 per cent are want to pull together a day for Labour to realise that hasty return of MPs to ashamed of Britain’s past, 70 per Guildhall banquet in your own words have consequences. Westminster and, through it all, cent support nuclear home, The New City of John McDonnell once praised the spectacle of party conference disarmament, a serious chunk of London Cookbook is “the bombs and the bullets” season. The Tory party conference them remain sympathetic to the launching next week, of the IRA and infamously is up in the air since MPs decided IRA and almost half agree that featuring recipes from top joked about lynching “the yesterday not to allow for a mini- “nations should remove all City chef Peter Gladwin. There b**ch” Esther McVey. He vows recess that would let the Tories borders”. You get the picture. are also guest recipes from, to jail Tories once he’s in gather in Manchester, but the Having given these people the among others, Theresa May – office, has openly fantasised Labour conference in Brighton last power to shape Labour’s next if you’re tempted by her about killing Margaret week offered us some real treats. manifesto (and so potentially the Persian salt and spiced squid. Thatcher and has accused Jeremy Corbyn is obsessed with country) it’s little surprise that vote the Tories of “social murder”. party democracy, in the way that after vote in Brighton committed Anyone who’s ever braved the old socialists so often are. Nothing the party to such nuanced and £ Jacques Chirac leaves a £ Congratulations to my friend CAN I QUOTE YOU ON THAT? hard left protesters outside a thrills them quite like a contested considered policies as the colourful and varied legacy. Taking Mervyn Metcalf, founder of Tory party conference will floor-vote or a packed local abolition of private eduction, the France into the euro, opposing the boutique investment bank Dean know that some people feed meeting of activists quibbling over closure of all immigration Iraq war and, of course, corruption Street Advisers, who yesterday off such comments. Labour’s the branch constitution. In this detention centres, the expansion scandals. I have a lawyer friend celebrated 25 years of working in “He has come down to Jess Phillips, so vocal on this spirit he vowed to let party of free movement and the who, through the course of his the City. To mark the occasion he you, having great issue, once declared that she members determine party policy. ruinously (almost hilariously) work on a particular case, took his team for a long lunch at anger, knowing he has would “knife Corbyn in the But who are these members? expensive policy of achieving zero identified a luxurious north African the Ned but had started the day front”. Each side is capable of You’ll have seen them on the carbon emissions by 2030. retreat where the former French with a client briefing on the a short period of time.” whipping up their supporters news, chanting Corbyn’s name Labour’s conference did not President would stay and potential impact of a future Corbyn Former London Stock and they do so deliberately. and reaching to touch him as he reveal a government in waiting. (allegedly) conduct some lucrative government. So it was a case of Exchange boss Xavier Rolet on There is very little room on walks past. In a bid to understand Instead it revealed a self-indulgent extra-curricular activities. My friend strong drinks at breakfast followed criticism of the PM’s language, the moral high ground for all them, YouGov surveyed the student union masquerading as a was so taken with this hideaway by champagne to revive the spirits with a little help from the Book the MPs currently seeking to Labour membership in the run up government in waiting. It was that he booked it for his over lunch. Sounds like not much of Revelations. occupy it. to their conference and here’s farcical, funny... and frightening. honeymoon. has changed in Mervyn’s 25 years.

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CITYAM.COM FRIDAY 27 SEPTEMBER 2019 NEWS 07

OFF THE BACK Peloton shares tank in its first day of trading on tech-heavy Nasdaq Up in smoke: US e-cigarette deaths SHARES in fitness tech giant Peloton fell 11 per cent yesterday on its first day of take chunk out of Imperial Brands trading, in a much- AUGUST GRAHAM anticipated initial The tobacco company’s share price IMPERIAL BRANDS public offering on continued to slide yesterday, closing Wall Street. The @AugustGraham P with a 12.92 per cent fall. 2,200 young company had IMPERIAL Brands warned it will fall Its next generation lines, which priced its shares at short of expected growth in its include e-cigarettes, will grow sales 2,100 $29, valuing the vaping business after several deaths around 50 per cent, below previous company at $8.1bn in the US were linked to e-cigarettes. expectations. 2,000 26 Sep (£6.6bn). Shares The company said the deaths and Vape pen maker Juul decided on 1,900 1,798.60 closed at $25.76, after illness caused a “marked slowdown” Wednesday to end all broadcast, opening at just $27 in growth of its vaping sector. There print and digital advertising in the 1,800 per share. is no suggestion Imperial’s products US, but will continue its UK caused the deaths. promotions. 20 Sep23 Sep 24 Sep 25 Sep 26 Sep BA strikes pose STYLE WITH IAG profit threat CONFIDENCE

JOE CURTIS The sides are still locked in a dispute despite pilots cancelling a strike set to @joe_r_curtis take place today. BA has offered pilots BRITISH Airways owner International an 11.5 per cent pay rise over three Airlines Group (IAG) yesterday slashed years that has been accepted by other its 2019 profit guidance after recent unions representing BA staff. strikes forced it to cancel more than “Clearly any further industrial 2,000 flights. action will additionally impact IAG’s IAG warned that adjusted operating full year 2019 operating profit,” the profit will fall €215m (£190m) below airline owner said yesterday. last year’s €3.49bn. IAG shares were down 3.98 per cent It estimated that strike action by the at the end of trading yesterday. British Airline Pilots’ Association € (Balpa) has cost the airline 137m so IAG far, while other disruption, such as P threatened strikes by Heathrow Air- 485 port staff, cost British Airways €33m. IAG warned that any future strikes 480 will hit its full-year operating profit. 475 Pilots held strikes on 9 and 10 Sep- 470 26 Sep tember, leading to a total of 2,325 flights being cancelled. 465 461 IAG said Balpa and British Airways 460 have not held any further talks since the strikes. 20 Sep23 Sep 24 Sep 25 Sep 26 Sep IN ASSOCIATION WITH ANNOUNCEMENTS LEGAL AND PUBLIC NOTICES NEWSLETTERS

CITY OF LONDON The biggest Warwick Square – Introduction of a ‘no motor vehicles’ restriction. The City of London (Prescribed Routes) (No Motor Vehicles) (No. stories direct 1) Order 2019 to your inbox Wednesday 16th October 1. NOTICE IS HEREBY GIVEN that the Common Council of the City of London on 23 September 2019 made the above Order under 6.30pm - 8.30pm VHFWLRQVDQG&RIWKH5RDG7UDIÀF5HJXODWLRQ$FW Turnbull & Asser, 71-72 Jermyn St, 2. The effect of the Order will be to introduce a ‘no motor vehicles at any time’ restriction in Warwick Square. St. James's, London SW1Y 6PF 7KHUHVWULFWLRQZLOOEHHQIRUFHGE\WKHXVHRIDULVLQJEROODUG under the supervision of the Head of Security of the Central &ULPLQDO&RXUWRUDQ$XWKRULVHG,QVSHFWRURIWKH&LW\RI/RQGRQ Join the City A.M. Club and Turnbull & Asser to hear from their hosts - Turnbull & Asser 3ROLFH  9HKLFOHV EHLQJ XVHG E\ WKH HPHUJHQF\ VHUYLFHV XWLOLW\ Creative Director, Becky French, Blackhorse Lane denim workshop owner, Bilgehan "Han" FRPSDQLHV RU WKHLU FRQWUDFWRUV WKH ORFDO DXWKRULW\ RU ZDVWH DQG UHF\FOLQJFROOHFWRUVZLOOEHJUDQWHGDFFHVVZKHQUHTXLUHG9HKLFOHV Ates, and journalist Aleks Cvetkovic - on how to revitalise your style and confidence, in that require access in order to enter the Central Criminal Court car park will be permitted. and away from the office. &RSLHVRIWKH2UGHUZKLFKZLOOFRPHLQWRRSHUDWLRQRQ 6HSWHPEHURIWKHVWDWHPHQWRIUHDVRQVIRUPDNLQJWKH2UGH U DQGRIDSODQVKRZLQJWKHDIIHFWHGVWUHHWFDQEHLQVSHFWHGGXUL QJ Enjoy an evening of relaxed drinks with a Q&A around building your style foundations and QRUPDORIÀFHKRXUVRQ0RQGD\WR)ULGD\VLQFOXVLYHIRUDSHULRG RI GET THE why investing in quality is the future of dressing, with a sneak peek of the upcoming Silk VL[ZHHNVIURPWKHGDWHRQZKLFKWKH2UGHUZDVPDGHDWWKH3ODQQLQJ (QTXLU\'HVN1RUWK:LQJ*XLOGKDOO/RQGRQ(&3(- MORNING Shirts Collection - the ultimate shirt for confident style. $Q\SHUVRQGHVLULQJWRTXHVWLRQWKHYDOLGLW\RIWKH2UGHURURI UPDATE, CITY DQ\SURYLVLRQFRQWDLQHGWKHUHLQRQWKHJURXQGVWKDWLWLVQRWZLWKLQ WKHSRZHUVRIWKHUHOHYDQWVHFWLRQRIWKH5RDG7UDIÀF5HJXODWLRQ A.M.’S DAILY RSVP to [email protected] $FWRUWKDWDQ\RIWKHUHOHYDQWUHTXLUHPHQWVWKHUHRIRURIDQ\ EMAIL UHOHYDQWUHJXODWLRQVPDGHWKHUHXQGHUKDVQRWEHHQFRPSOLHGZLWK PD\ZLWKLQVL[ZHHNVIURPWKHGDWHRQZKLFKWKH2UGHUZDVPDGH www.turnbullandasser.com PDNHDSSOLFDWLRQIRUWKHSXUSRVHWRWKH+LJK&RXUW Dated 27 September 2019 Zahur Khan Transportation and Public Realm Director CITYAM.COM/ NEWSLETTER

CITYAM.COM FRIDAY 27 SEPTEMBER 2019 NEWS 09

APART AT THE SEAMS Debenhams chief Mardi bah: oil quits to help struggling brand Ted Baker Pearson drops as print revenue RACHEL Osborne, chief finance officer of beleaguered turns dog-eared price surge hits department store Debenhams, has JOE CURTIS announced her @joe_r_curtis departure after 14.03% one year to take on PEARSON shares dived the same role at more than 14 per cent Carnival profits fashion brand Ted yesterday as it warned that profit Baker. Debenhams will fall to the bottom of its group finance guidance range this year. JAMES BOOTH owed the company’s better-than-ex- director Mike The education publishing brand @Jamesdbooth1 pected quarterly sales and profit. Hazell will replace said “weaker than expected” sales Revenue for the Miami-based busi- Osborne as chief in its US higher education CRUISE ship operator Carnival cut its ness rose nearly 12 per cent to $6.5bn, financial officer. courseware division mean adjusted 2019 profit forecast for the third time (£6bn) beating the average analyst operating profit will hit £590m, far yesterday, blaming higher fuel prices. estimate of $6.2bn, according to IBES off the £640m it had hoped to hit. Carnival’s UK shares plunged 7.2 per data from Refinitiv. Pearson’s courseware business cent on the news to close at 3,389p. The gloomy forecast also dragged makes up a quarter of its overall Fuel accounted for about 11.4 per down shares of Carnival’s rivals Royal revenue, but trading has slipped 10 cent of Carnival’s total operating Caribbean Cruises and Norwegian per cent in the first three quarters expenses for its third quarter ended Cruise Line, by more than two per Woodford Patient Capital shares of the company’s financial year. 31 August. cent and three per cent respectively. The publisher blamed students The recent attack on Saudi Arabia’s moving faster than anticipated oil facilities sent oil prices surging by slide following fresh writedown away from print products in favour more than 20 per cent in a day to CARNIVAL of educational resources online. almost $71 a barrel. ANNA MENIN — the firm responsible for That means the firm now expects Chief executive Arnold Donald said P independently valuing the portfolio a fall between eight per cent and 12 3,800 @annafmenin 2.66% he expected a hit of eight cents per — the firm said in an update to the per cent for its US higher education share from the recent oil price spike. 3,700 SHARES in embattled stock- stock exchange. The devaluations division, which was already under “We have also made close-in deploy- 3,600 picker Neil Woodford’s listed will reduce the company’s net asset pressure from open source ment changes, including those made 3,500 26 Sep fund dropped yesterday morning value (NAV) by approximately 3.1p alternatives and a falling number to address the recent situation in the 3,389 following the news that the valuation per share, WPCT said. of university students. Arabian Gulf, which has had an 3,400 of its assets have been lowered. WPCT shares slid in response, Its own digital transition is impact on recent booking trends and 3,300 The valuation of three Woodford dropping almost seven per cent in underway, with Pearson expecting ticket prices,” he said. Patient Capital Trust (WPCT) early trading to 41.10p. It closed to derive 65 per cent of revenues The jump in fuel costs overshad- 20 Sep23 Sep 24 Sep 25 Sep 26 Sep holdings have been reduced by Link down 2.7 per cent at 43.90p. from digital channels this year.

UNCOMFORTABLE TRUTH House sales September consumer confidence ticks slump hurts trading, warns sofa chain DFS up but Brexit keeps optimism negative JESS CLARK Consumers were more positive morning by market research @jclarkjourno about their personal financial company GfK. situations compared to August as the Consumers were also slightly CONSUMER confidence grew slightly measure increased by three points to more confident in the UK economy this month but remained negative a score of two, which is one point over the past 12 months as the overall as uncertainty continued in higher than September 2018. measure increased by two points, the run up to the 31 October Brexit Expectations for the general however the outlook was still down deadline date. economic situation of the UK over four points on September 2018. Despite the two point increase, the next 12 months increased three Joe Staton, client strategy director consumer confidence was still points to minus 35 — four points at GfK, said British consumers were minus 12 points in September lower than this time last year — “treading water” during the ongoing SOFA retailer DFS yesterday warned that weakening consumer confidence and a compared to a score of minus nine according to the latest Consumer uncertainty as the latest Brexit slump in housing transactions has impacted sofa sales. The company said a drop in in the same month last year. Confidence Index published this deadline approaches next month. footfall had made order levels “subdued” in the first 12 weeks of the financial year.

CITYAM.COM FRIDAY 27 SEPTEMBER 2019 NEWS 11 PrivateGUEST OPINION sector can unlock Africa’s promise

, So today, I am announcing £90m of Department for International Devel- That is why part of the £90m UK aid developing world, while also Alok Sharma UK aid that will help generate more opment, the Central Bank of Nigeria package I am announcing today will promoting lower carbon and better secretary of state than £500m of private sector invest- and the London Stock Exchange — are catalyse a further £244m of private value-for-money infrastructure. ment in financial markets. meeting in Nigeria’s capital Abuja to sector and public sector investment Gregory Hodkinson, with 40 years of for international This will help small African start developing so-called jollof into projects across housing, health, experience in civil infrastructure and financial services businesses and bonds. education and infrastructure to transportation projects worldwide development, on a startups to grow and create 50,000 Named after the well-known west benefit the poorest people. and previously the chairman at the jobs. All of this will drive economic African rice dish, these bonds will Infrastructure is the backbone of global infrastructure firm Arup, is new aid approach development. reduce the risk and cost associated economic growth. It improves access chairing the commission. As a result, 12.5m people — half of to basic services such as clean water It will make recommendations on them women and girls — will have and electricity, creates jobs, how the UK government can HE SUCCESS of Africa mat- better access to financial services, stimulates trade and encourage more private ters to us all. The continent including loans and bank accounts. boosts business. With sector investment into in- is home to four of the five This will help female entrepreneurs the right tools and frastructure in develop- Tfastest growing economies overcome the $42bn financing gap policies in place, ing countries in the world. But still African faced by small and medium sized £90m of UK aid infrastructure can countries currently receive less than African businesses owned by women. will help generate help lift entire na- The jollof bond will aim four per cent of all global foreign Today’s UK investment builds on the tions out of poverty. to boost investment direct investment. Around 20m jobs a success of Financial Sector Deepening more than £500m But we also know in Nigeria year need to be created just to keep Africa, an organisation which works that there are barri- pace with its population growth. to reduce poverty by strengthening of private sector ers to investment in alongside UK aid. This is a momentous challenge for Africa’s financial markets. infrastructure in devel- It will support develop- Africa and the world. It is also a great It is supporting the closing of the investment oping countries, which ing countries to opportunity. If we help create jobs first East African Green Bond in continue to hold them back. improve their infrastructure and boost investment, we can help lift Kenya, that will raise funds to build with borrowing in foreign currencies During a visit to Ethiopia last while also helping to create our people out of poverty, while generat- environmentally-friendly housing. to make the most of vital investment month, I announced a new Interna- trading partners of tomorrow after ing opportunities for African and This follows its leading involvement in Nigeria’s future. I will take this for- tional Development Infrastructure we leave the European Union. British businesses. in the launch of the first Green Bond ward as part of the UK-Africa Invest- Commission to turbo-charge quality British engineering feats – from the Overall, an extra $2.5 trillion (£2 tril- in Nigeria. ment Summit in January. infrastructure projects in the poorest Clifton Suspension Bridge to the lion) is needed every year to end The UK is also leading the way to The British public cares about ethi- countries. London Olympic Stadium – showcase poverty in developing countries and help raise much-needed finance in cal investment. New UK aid research This new Commission is bringing the UK as a global leader in creating meet the 17 Global Goals, which aim the local Nigerian currency to boost shows that a large majority of UK together 10 UK and international infrastructure. to make the world a fairer, healthier, economic growth, invest in infra- savers want their investments to be business leaders to make recommen- And we must take this even further. safer and more prosperous place for structure and create jobs. socially responsible and consider the dations on how the UK government, everyone, everywhere by 2030. Today, for the first time, a working positive impact they can make on UK businesses and the City of London Alok Sharma is the secretary of state for We cannot do this alone. We must group of experts – including senior people and the environment across could work together even more international development and serves as mobilise private sector investment. leaders from my team at the the world. closely to drive investment in the Conservative Party MP for Reading West. 12 NEWS FRIDAY 27 SEPTEMBER 2019 CITYAM.COM

HOP, SKIP AND A JUMP Trading firm ECB’s German hawk quits as bank crowned the speediest in the Square Mile prepares to loosen its purse strings JOE CURTIS her for her instrumental role in Michael Hewson, chief market @joe_r_curtis helping set up and steer Europe- analyst at CMC Markets, said the wide banking supervision, a key ECB’s refusal to provide a reason for THE ONLY woman on the European pillar of banking union, as well as her departure has created Central Bank’s (ECB) board quit on her unwavering commitment to uncertainty over the nature of her Wednesday night, as the bank Europe,” an ECB statement on her exit. prepares to resume pumping money departure read. “It has given rise to all sorts of into the struggling Eurozone But as the most hawkish member speculation that it was to do with economy. of the bank’s 25-strong board, her the September decision to ease Sabine Lautenschlaeger felt it was decision to quit more than two years monetary policy further, particularly the right time to leave, according to before the end of her time in office the restarting of the asset purchase reports, and will leave her role on has sparked speculation that it may program, which she [and] other ECB THE 13th Bloomberg Square Mile Relay was won by Jump Trading last night, with 31 October. be linked to the resumption of members said was premature and 120 teams across 85 businesses taking to the streets to test their legs against the “President Mario Draghi thanked quantitative easing. unnecessary,” Hewson said. clock. Money raised will go towards charity programmes in education. IN BRIEF CITY AIRPORT WELCOMES MORE LOCAL PASSENGERS London City airport said it saw a 22 SSP shares sink per cent increase in the number of local people using it is a take-off base last year, while recent online polling carried out by YouGov found that 42 per cent of locals said they would use the airport in the future. on new warning London City has been on a drive to appeal to leisure passengers. It recently changed its logo and has increased the number of tourist destinations in its offering, including Prague, Budapest and Vilnius. over uncertainty LUCIANA BERGER TO STAND IN LONDON SEAT Former Labour MP Luciana Berger JESS CLARK by the ending of operations at Jet Air- has said she will contest the north @jclarkjourno ways in India, weaker Chinese passen- London seat of Finchley and Golders ger numbers and the recent political Green in the next general election. UPPER Crust owner SSP Group yester- unrest in Hong Kong. Berger joined the Lib Dems earlier day warned on the impact of airline Sales at the firm’s rail operations this month after originally setting up capacity cuts and ongoing economic were softer, but have been helped by the Independent Group for Change uncertainty. the lower levels of disruption on the with a handful of disaffected Labour Shares in the travel retail operator rail network during the period. and Tory MPs. Berger, who is fell as much as eight per cent after it “Looking into 2020, many of these Zamira Hajiyeva was investigated after spending £16m in luxury shop Harrods Jewish, quit Labour in February, said challenges faced in the fourth challenges will remain as well as on- and cited a culture of bullying and quarter will continue into next year. going economic uncertainty and the antisemitism as her reason for However, the firm said it expects expectation of airline capacity cuts,” leaving the party. She will go head to group revenue to rise despite facing the company said in a statement. Woman who splurged £16m in head with Tory MP Mike Freer, who challenges including the grounding of “That said, the diversity of the busi- currently holds the Finchley and Boeing 737 Max planes and protests in ness and flexibility of the model leave Golders Green seat. Hong Kong. us well placed to benefit from the Harrods beats Azeri extradition In a trading update yesterday morn- significant growth opportunities in ONLINE WEALTH MANAGER ing the FTSE-250 firm said total group our markets and to create further JAMES BOOTH the former Soviet republic. MONEYFARM RAISES £36M revenue growth in the fourth quarter value for shareholders.” @Jamesdbooth1 Senior district judge Emma Digital wealth manager Moneyfarm is expected to be 7.8 per cent on a con- Arbuthnot said: “There is a real risk has raised £36m in a series C stant currency basis, with like-for-like SSP A JUDGE ruled yesterday that a that Mrs Hajiyeva...will suffer a funding round led by Poste Italiane, sales growth of about 1.8 per cent and woman who spent £16m in Harrods flagrant denial of justice.” and has launched a strategic net contract gains of six per cent. P and was the target of the UK’s first Hajiyeva was the target of the UK’s partnership with the Italian postal SSP said it expects 10 per cent year- 680 unexplained wealth order (UWO) will first UWO which forced her to reveal and financial services firm. The on-year revenue growth at actual 660 not be extradited to Azerbaijan. how she was able to afford two UK partnership will integrate exchange rates. Zamira Hajiyeva, whose banker properties worth a combined £22m. Moneyfarm’s services with Poste The company’s air travel business 640 26 Sep husband is serving a 15-year Hajiyeva’s lawyer, Roger Gherson Italiane’s digital platform. The has been resilient despite facing hur- 608 sentence for embezzlement, faced of Gherson Solicitors, said: “We Italian company currently manages dles including airport redevelopments 620 extradition to Azerbaijan to stand welcome the decision of the senior over €514bn (£455bn) across its in Europe and the grounding of Boe- 600 trial on multiple fraud charges. district judge today.” financial and insurance services, ing planes following two crashes. However, a judge ruled yesterday The government of Azerbaijan meaning the deal will be Europe’s Other challenges have been caused 20 Sep23 Sep 24 Sep 25 Sep 26 Sep she would not receive a fair trial in may appeal against the decision. largest API-based partnership.

FIRST IN LINE Elizabeth Line trains to hit Paddington to Reading route later this year Rothesay Life and Telent agree UK’s biggest ever pension transfer deal

ANNA MENIN The mammoth Rothesay deal allows us to give trustees of large @annafmenin smashed the record set in June when schemes confidence in our Legal & General took on £4.6bn of execution capability and continues INSURER Rothesay Life and telecoms pensions from Rolls-Royce. to attract new clients,” said Rothesay firm Telent have agreed a £4.7bn Telent said the deal would secure Life’s Sammy Cooper-Smith. pension transfer deal – the largest payments to 39,000 members of the Last month, the high court made a ever made in the UK – covering the GEC 1972 plan, many of whom were surprise ruling to block the transfer pensions of 39,000 people. hired by GEC and Marconi – Telent’s of £12bn annuities from Prudential Companies are increasingly keen previous incarnations. to Rothesay. A decision on whether ELIZABETH Line trains will start running from Paddington to Reading stations this to offload pension liabilities to “Our robust approach to risk the companies will appeal the December, TfL announced yesterday. The line will become part of the Crossrail route insurers, in deals known as buy-ins management and the capital judgement is expected to be when the much-delayed project opens between October 2020 and March 2021. and buy-outs. support from our shareholders announced today. CITYAM.COM FRIDAY 27 SEPTEMBER 2019 NEWS 13 10TH IN ASSOCIATION WITH ANNUAL

CATEGORY THE NOMINEES

BANK OF ARBUTHNOT LATHAM THE YEAR SPONSORED BY It has been a busy year for Arbuthnot, which has strengthened its enviable position in the UK corporate banking market. The 186-year-old institution raised new capital, grew its existing businesses and pushed on with plans to diversify. Secure Trust Bank has grown during Arbuthnot’s majority ownership, and its subsequent sell-down in the firm has freed up capital for the group to accelerate the growth of Arbuthnot Latham. Meanwhile net assets per share have risen almost fivefold in the last eight years.

MONZO

After officially achieving unicorn status (a startup valued at more than $1bn) in October last year, the tech-friendly bank achieved a £2bn valuation this summer thanks to new funding led by a prominent US investor. Monzo’s popularity across the pond convinced the bank to launch Stateside, while on this side of the Atlantic it launched a new short-term loans service. With two City A.M. awards already under its belt Monzo continues to cement its position as the UK’s most exciting digital bank, now serving over 3m customers.

OAKNORTH

OakNorth started 2019 with a bang, attracting a $440m funding round spearheaded by SoftBank. The funding valued OakNorth at nearly $3bn, confirming its status as Britain’s most valuable fintech company. Later in the year SoftBank’s confidence in OakNorth was justified when the business lender signed a landmark deal to provide its software and analysis to Dutch lender NIBC Bank. The entrepreneurial bank has also entered the mortgage market and remains one of the few The banks battling to be the best British challenger banks to be profitable. A decade after the financial crisis, it seems that the BARCLAYS Arguably the year’s most dramatic activist defeat narrative is finally moving on for London’s banking came in May when Edward Bramson lost his fight for a place on Barclays’ board, after execs convinced sector. Banks have almost put their legacy issues investors to back their vision for the business. Bramson’s wish to downgrade Barclays’ investment and billion-pound fines to bed, and thoughts are bank was hurt by better-than-expected results despite the struggles of rivals, leaving boss Jes turning to the future. From the world’s biggest lender Staley set on showing that Europe can still be home to an investment banking giant. Barclays may be a to the smaller digital challengers, this year’s shrewd buy according to analysts, who expect nominations all have one thing in common – return on tangible equity to reach 10 per cent in 2020. innovation. CREDIT SUISSE

LOOK OUT FOR THE NEXT CATEGORY: ACCOUNTANCY FIRM OF THE YEAR While European banking giants have come under pressure in 2019, Credit Suisse is holding its own SECURE YOUR TABLE NOW thanks to the bold restructuring imposed by Tidjane Thiam. The former Prudential boss was a 7 November Leonardo Royal Hotel London, controversial hire back in 2015 having never worked at a bank. However, the visionary CEO (previously The Grange Hotel) St Paul’s embarked on a ruthless set of targeted cuts that is Contact: Julianna Hitchins on 020 3201 8900 now paying dividends. Net profits nearly touched the 1bn SFr mark in the second quarter, with the Email: [email protected] bank on course to record double-digit return on tangible equity, compared to just 5.5 per cent last year.

SUPPORTED BY 14 NEWS FRIDAY 27 SEPTEMBER 2019 CITYAM.COM

BREACH OF TRUSS International trade Huawei production ditches US parts secretary apologises for Saudi arms sales

JAMES WARRINGTON could be used for spying by possible because it has “emotional BRITAIN’s authorities in Beijing – accusations ties” with long-time American international trade @j_a_warrington the Chinese company has always suppliers. secretary Liz Truss CHINESE tech firm Huawei is already denied. Ren also revealed that his company yesterday producing 5G base stations that do The move effectively blocks Huawei would be willing to license its 5G apologised for the not use any US components, the from doing business with US firms mobile technology to a US company, second time this company’s founder said yesterday. and means it will not have access to even if that created a new rival. The month for arms Ren Zhengfei said his company is American technology. offer could also include chip design sales to Saudi making 5,000 base stations per Will Zhang, Huawei’s president of know-how, he added. Arabia which could month and plans to ramp up corporate strategy, told Reuters the It follows comments made earlier be used in the war production to make 1.5m of the performance of the US-free base this month by the founder, who said in Yemen. It telecoms hubs next year. stations was “no worse” than its Huawei was open to selling its 5G emerged that the US President Donald Trump has existing models, and the company technology – including patents, code, government made added Huawei, the world’s largest “has had positive surprises”. blueprints and production know-how two further telecoms gear maker, to a trade However, Ren said Huawei would – to Western firms for a one-off fee breaches of a blacklist over concerns its technology still like to use US components if following the blacklist. pledge not to do so.

Transport for London Public Notice ROAD TRAFFIC REGULATION ACT 1984 THE ROAD TRAFFIC REGULATION ACT 1984 Holland to probe THE A11, A100, A1210, A1211 AND A3211 GLA ROADS AND GLA SIDE ROADS (CITY OF LONDON) (20 MPH SPEED LIMIT) ORDER 2019 THE A3036 AND A3203 GLA ROADS AND GLA SIDE ROADS (LONDON BOROUGH OF LAMBETH) (20 MPH SPEED LIMIT) ORDER 2019 THE A2, A3, A100, A200 AND A201 GLA ROADS AND GLA SIDE ROADS (LONDON BOROUGH OF SOUTHWARK) bank ABN Amro (20 MPH SPEED LIMIT) ORDER 2019 THE A11, A100, A1202, A1203, A1210 AND A3211 GLA ROADS AND GLA SIDE ROADS (LONDON BOROUGH OF TOWER HAMLETS) (20 MPH SPEED LIMIT) ORDER 2019 AUGUST GRAHAM Wopke Hoekstra yesterday. THE A302, A3203, A3211 AND A3212 GLA ROADS AND GLA SIDE ROADS (CITY OF WESTMINSTER) (20 MPH SPEED LIMIT) ORDER 2019 “This is a clear negative for the @AugustGraham shares in our view... This represents a PROSECUTORS in the Netherlands clear escalation of the issue,” analysts opened an investigation into Dutch at Barclays said, adding this year’s 1. Transport for London, hereby gives notice that it the location and effect of the Orders and copies of bank ABN Amro over potential money dividend may be at risk. intends to make the above named Orders under any Order(s) revoked, suspended or varied by the laundering or financing of terrorism. Shares closed down 12.16 per cent section 83 of the Road Traffic Regulation Act 1984. Orders can be inspected during normal office hours at The bank said it was informed of the on the news. 2. The general nature and effect of the Orders would be the offices of: decision yesterday. “ABN Amro will The probe is reportedly based on in- to impose a speed limit of 20 MPH on the: cooperate fully,” it said. formation from the Dutch Central Prosecutors told Reuters that the Bank. In August ABN warned it might (1) A3211 GLA Roads – Victoria Embankment, Transport for London Planning Enquiry Desk bank is suspected for years to have re- be fined over client oversight failures. Blackfriars Underpass, Upper Thames Street, Lower Streets Traffic Order North Wing ported suspicious transactions too “We have always known we had to Thames Street, Byward Street and Tower Hill, A1211 Team Corporation of London late, or not at all. They are also look- do things better, but we have also GLA Roads – Minories and Goodman’s Yard, A100 (NP/REGULATION/STOT) Guildhall ing into whether the bank properly always been clear that an investiga- Palestra, 197 Blackfriars London EC2P 2EJ investigated its clients and held on to tion such as this might occur,” a GLA Road - Shorter Street, A11 and A1210 GLA Road Road, London, SE1 8NJ – Mansell Street and all GLA Side Roads - Red Route suspicious customers for too long. spokesperson said. returns of these roads in The City of London; London Borough of Network Management “It’s extremely worrying that ABN On Wednesday German authorities Lambeth Team Amro is under investigation by prose- raided the offices of Deutsche Bank (2) A3036 GLA Roads – Lambeth Palace Road and 5th Floor, Blue Star London Borough of cutors,” said Dutch finance minister over its role in a Danske Bank scandal. Albert Embankment, A3203 GLA Road – Lambeth House Tower Hamlets, Bridge and all GLA Side Roads - Red Route returns of 234-244 Stockwell Road John Onslow House, 1st these roads in the London Borough of Lambeth; London, SW9 9SP Floor, Room 1.7 ,1 Ewart Place London E3 5EQ ANNOUNCEMENTS (3) A210 GLA Roads – Blackfrairs Bridge and Blackfriars Road, A2 GLA Road – Great Dover Street, A200 GLA CSP Southwark Council Parsons Brinckerhoff Public Realm Projects LEGAL AND PUBLIC NOTICES Roads – St Thomas Street, Crucifix Lane, Bermondsey Palace Garden Suite 160 Tooley Street JOIN Street, Druid Street, Queen Elizabeth Street, Duke 27th Floor, London SE1 2QH Street Hill and Tooley Street and A100 GLA Road - Portland House (Please e-mail: THE CITY OF LONDON Tower Bridge Road and all GLA Side Roads - Red Route Bressenden Place traffic.orders@southwark *LOWVSXU6WUHHW+RVLHU/DQHDQG:HVW6PLWKÀHOG²$PHQGPHQWV London .gov.uk to arrange an returns of these roads in the London Borough of to the parking places SW1E 5R appointment) CLUB The City of London (Free Parking Places) (Disabled Persons) (No. Southwark; 4) Order 2019 (4) A11 GLA Roads – Braham Street and Mansell TODAY 7KH&LW\RI/RQGRQ 3DUNLQJ3ODFHV  $PHQGPHQW1R 2UGHU Street, A100 GLA Roads – Tower Bridge Approach and 2019 6. All objections and other representations to the 1. NOTICE IS HEREBY GIVEN that the Common Council of Shorter Street, A1202 GLA Road - Leman Street and the City of London on 23 September 2019 made the above Orders Prescot Street, A1203 GLA Road – East Smithfield, proposed Orders must be made in writing, and must XQGHUVHFWLRQVDQGRIWKH5RDG7UDIÀF5HJXODWLRQ$FW A1210 GLA Road – Mansell Street and A3211 GLA specify the grounds on which they are made.  Roads – Tower Hill and Byward Street and all GLA Side Objections and representations must be sent to the 2. The effect of the Orders will be to:- (a) introduce disabled persons parking places with one parking Roads - Red Route returns of these roads in the Transport for London, Streets Traffic Order Team, IT’S bay operating ‘at any time’ with waiting limited to a London Borough of Tower Hamlets; Palestra, 197 Blackfriars Road, London, SE1 8NJ maximum stay of six hours in:- Hosier Lane quoting reference NP/REGULATION/STOT/TRO, (1) on the north side outside No. 20; and (5) A302 GLA Road – Westminster Bridge, A3203 BETTER (2) :HVW6PLWKÀHOG on the west side outside No. 24-30; Lambeth Bridge, A3211 GLA Road – Victoria GLA/2019/0412-0416, to arrive before 18th October (b) revoke the disabled persons parking place in *LOWVSXU6WUHHW 2019. Objections and other representations may be on the west side outside No. 1 and extend the payment Embankment, A3212 GLA Road – Millbank and all ON THE parking place by two parking bays. GLA Side Roads - Red Route returns of these roads in communicated to other persons who may be Note: this location is currently a temporary bus stop and cage The City of Westminster. affected. INSIDE GXHWRFRQVWUXFWLRQZRUNVLQ:HVW6PLWKÀHOG 3. Copies of the Orders, which will come into operation on 30 3. The roads which would be affected by the Orders are September 2019, of the statement of reasons for making the Orders as in article 2 above and all GLA Side Roads - Red and of plans showing the affected streets can be inspected during Route returns of these roads in the London Boroughs VISIT QRUPDO RIÀFH KRXUV RQ 0RQGD\ WR )ULGD\ LQFOXVLYH IRU D SHULRG of six weeks from the date on which the Orders were made at the of Southwark, Lambeth, Tower Hamlets, the City of CITYAMCLUB.COM Planning Enquiry Desk, North Wing, Guildhall, London, EC2P 2EJ. London and the City of Westminster. Dated this 27th day of September 2019 $Q\SHUVRQGHVLULQJWRTXHVWLRQWKHYDOLGLW\RIWKH2UGHUVRURI 4. The roads affected are currently subject to a speed Helen Cansick any provision contained therein on the grounds that it is not within WKHSRZHUVRIWKHUHOHYDQWVHFWLRQRIWKH5RDG7UDIÀF5HJXODWLRQ limit of 30 MPH. Head of Network Performance $FW  RU WKDW DQ\ RI WKH UHOHYDQW UHTXLUHPHQWV WKHUHRI RU RI any relevant regulations made thereunder has not been complied 5. A copy of the Orders, a statement of Transport for Transport for London, Palestra, 197 Blackfriars Road, with may, within six weeks from the date on which the Orders were London’s reasons for the proposals, a map indicating London, SE1 8NJ made, make application for the purpose to the High Court. Dated 27 September 2019 Zahur Khan Transportation and MAYOR OF LONDON Public Realm Director CITYAM.COM FRIDAY 27 SEPTEMBER 2019 NEWS 15 Boost for broadcasters as live TV continues to attract young viewers JAMES WARRINGTON Audience Research Board. services and catch-up TV. Reality TV sensation Love Island “We know viewing habits are @j_a_warrington ranked in first place, followed by changing and this age group in LIVE events are still the most watched singalong stalwart the Eurovision particular is increasingly streaming, TV programmes among young Song Contest. downloading, recording, using catch- audiences, new data has revealed, BBC One’s live coverage of the up services and watching TV on marking a much-needed boost for Women’s World Cup semi-final clash mobile devices,” said Sophia traditional broadcasters. between England and the USA came Lazarides, spokesperson for TV Live TV favourites such as reality in third place, attracting more than Licensing London and South East. shows, talent shows and sports 400,000 young viewers. “However, these figures show that fixtures made up more than half of The data, which covers the year to they still love the shared experience the top 30 most-watched programmes 18 August, shows the significance of of live national events, which also among 18 to 24-year-olds, according live events for broadcasters as they generate debate and discussion on to figures from the Broadcasters’ look to adapt to the rise of streaming social media and amongst friends.” The Eurovision Song Contest ranked second among young audiences IN BRIEF JAGUAR LAND ROVER WILL SHUT FOR BREXIT WEEK Jaguar Land Rover (JLR)’s factories Trim directors’ will shut up shop for a week in November to deal with Brexit, its boss has said. Asked whether the firm was thinking about shutting the plants, chief executive Ralf Speth said: “We cannot think about it, we pensions before just have to do it.” JLR has about 18,500 employees in the UK spread across four factories in the west Midlands and in the north west of England. The announcement follows on from BMW saying earlier 2022, firms told this month that it would have to shut its Mini plant in Oxford for two days after Brexit.

ANNA MENIN Research published by the IA last SHORE CAPITAL SHARES month found a third of firms in the SLIDE AFTER AIM DITCH @annafmenin FTSE 100 index had made significant Shares in investment group Shore COMPANIES that do not produce cred- changes to executive directors’ contri- Capital tumbled more than 28 per ible plans to pay executive directors butions, with a quarter of companies cent yesterday morning following the same pension contributions as pledging to pay all new directors’ pen- the news that the company would their workforce by the end of 2022 risk sions in line with the majority of staff. seek to remove its shares from AIM, further shareholder dissent over the “Providing directors the same pen- as the company reported a issue, a new report by the Investment sion contributions as the rest of the Time Out is hoping to open food markets in Waterloo and Spitalfields significant drop in pre-tax profit. In a Association (IA) has warned. workforce is fundamentally an issue of statement issued to the stock The IA said it would begin giving fairness, and we welcome the strong exchange yesterday morning, Shore firms that breach its guidelines on progress a number of companies have said it would seek shareholder directors’ pensions the highest level of made towards bringing executive pen- Time Out posts revenue rise as it approval at its annual general warning on its corporate governance sion contributions in line with their meeting to cancel the company’s research site ahead of the 2020 annual workforce,” said IA director of steward- shares on London’s AIM. Shore’s general meeting season. ship and governance Andrew Ninan. dines out on food market boom shares closed down 24.32 per cent Companies that pay directors more “Shareholders want to see that at 140p. In interim results published than 25 per cent of salary as a pension progress continue... Our new guide- JAMES WARRINGTON sites in Miami, New York and Boston. yesterday, Shore reported a 46 per contribution and have not set out a lines require companies to show they The company said it is on track to cent drop in profit before tax, which “credible” plan to reduce the contribu- are serious about that ambition and @j_a_warrington open its market in the former fell to £1.3m. tion by 2022, or companies that set out a credible action plan to TIME Out has posted a strong rise in Eurostar tunnels at Waterloo station appoint new directors with pension deliver it,” he added. revenue for the most recent half year in 2021, while a planning application ACCENTURE POSTS 10 PER contributions out of line with the Frank Field MP said the move to period, driven by the opening of for a new branch in Spitalfields will CENT PROFIT INCREASE workforce will be given so-called red equalise executives’ “old-fashioned, three new food markets. be resubmitted later this year. Accenture reported a 10 per cent tops on its Institutional Voting Infor- over-inflated” pension packages was The Aim-listed media firm reported Time Out’s media business, which rise in quarterly profit yesterday as mation Service (IVIS), the IA said. “the right and fair thing to do – and as revenue of £24.7m, up 10 per cent on operates in more than 300 cities investments in fast-growing digital Executive pensions have been under companies have started to see, neces- last year, while pre-tax loss narrowed worldwide, posted a two per cent and cloud services paid off. Net intense scrutiny in recent months, sary to keep their workforce and even marginally to £12m. decline in revenue over the period. income attributable to the company with pressure growing on UK firms to investors fully on side. There is no ex- Time Out said the positive trading However, the company narrowed rose to $1.13bn (£920m), or $1.74 cut disparities between pension pack- cuse for any remuneration committee, was boosted by the continued success its loss after cutting back the per share, in the fourth quarter ages awarded to bosses and the rest of on a three-year pay review cycle, not to of its food and culture markets, with distribution and frequency of its US ended 31 August, from $1.03bn, or the workforce. meet the 2022 deadline.” revenue growth spurred on by new magazines. $1.58 per share, a year earlier.

FULLERS GOES CHIC IN THE CITY Pub brand moves upmarket with £2m refurb O’Neills owner Mitchells & Butlers toasts jump in drinks sales growth

JESS CLARK Total sales have increased four per completed 239 conversions and cent in the year to date. remodels in the financial year. @jclarkjourno The increase was driven by drink Chief executive Phil Urban said: TOBY Carvery owner Mitchells & sales, which were up four per cent “Sales growth has remained Butlers celebrated a jump in sales over the summer while food sales consistently ahead of the market over the last eight weeks driven by increased 2.1 per cent. and we carry this momentum drinks purchases. The pub chain, which also owns forward into the new financial year. In the eight weeks to 21 brands including All Bar One, “We remain confident of the September like-for-like sales grew 3.3 O’Neills and Harvester, added that it impact of our ignite initiatives FTSE-LISTED pub firm Fullers, Smith and Turner has opened its first cocktail bar on per cent, marking an acceleration on is making “good progress” with its which will be continually reviewed the edge of the City as it looks to move beyond brown-panelled boozers. The group the 2.8 per cent growth seen in the investment portfolio. The company and refreshed as the business moves poured almost £2m into a renovation of the Chamberlain Hotel on the Minories. 10 weeks to 27 July. has opened seven new sites and forward.” 16 MARKETS FRIDAY 27 SEPTEMBER 2019 CITYAM.COM

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FTSE 100 reaches BOOHOO P Wall St dips as 275 270 investors fret 265 26 Sep two-month high S STOCKS slipped yesterday as 267.10 260 Uthe release of a whistleblower 255 report tied to the Democrats’ impeachment move against US President Donald Trump kept amid trade hopes 20 Sep 23 Sep 24 Sep 25 Sep 26 Sep uncertainty high, while trade comments from China’s top diplomat Fast fashion brand Boohoo is steaming ahead , with an “impressive” momentum. helped to limit losses. Broker Liberum says it is difficult to pick holes in its first-half results and The whistleblower report alleged presentation to management, which shows the firm is ahead of its peers and the that Trump not only abused his office ONDON’s FTSE 100 share index offset losses in tobacco firm Imperial market in general. Analysts confirm its “Buy” rating with a target price of 320p. in attempting to solicit foreign surged to multi-week highs yes- Brands, education company Pearson, interference in the 2020 US election, terday, outpacing its European British Airways owner IAG and cruise but that the White House also tried to Lpeers, as signals that the Sino- operator Carnival, all of which warned BURFORD CAPITAL “lock down” evidence. US trade war could soon be re- on results. Facebook was among the biggest solved overpowered losses in blue-chip The mid-cap FTSE 250 inched higher 880 P drags on the S&P 500, dropping 1.5 stocks drowned by profit warnings. after three consecutive sessions of 860 per cent after reports that the US The FTSE 100 closed 0.8 per cent losses but was only up 0.2 per cent. justice department will open an higher, earlier touching its highest 840 antitrust investigation of the social level in nearly eight weeks, after 26 Sep media company. FTSE 820 China’s commerce ministry said it 791.50 The Dow Jones Industrial Average was is in close communication with P 800 fell 79.59 points, or 0.3 per cent, to 7,400 Washington over next month’s trade 26,891.12, the S&P 500 lost 7.25 7,351.08 780 talks, and US President Donald 7,350 26 Sep points, or 0.24 per cent, to 2,977.62 Trump said overnight that a deal and the Nasdaq Composite dropped could be struck soon. 7,300 20 Sep 23 Sep 24 Sep 25 Sep 26 Sep 46.72 points, or 0.58 per cent, to Gains were seen across all the sec- 8,030.66. 7,250 tors, led by heavyweight energy stocks Burford Capital has barely been out of the news of late, but Peel Hunt thinks its The S&P energy sector was down 1.3 and shared among financials and 7,200 governance and disclosure issues “have been exaggerated, and are being per cent, while defensive sectors, healthcare shares. addressed”. What’s more worrying are the firm’s cash returns, which it estimates including utilities, were among the China’s conciliatory statement also 20 Sep23 Sep 24 Sep 25 Sep 26 Sep to be around 19 per cent. It confirms its “Buy” rating with a target price of 1,164p. best-performing groups. CITY MOVES WHO’S SWITCHING JOBS

ROWAN DARTINGTON where she was managing director, COO and head of was chief executive of Bank of Ireland Group between market and growth company experience. He was the Fiona Richards has been strategy. Rowan Dartington’s chief executive David February 2009 and October 2017, and has previously chief financial officer of GVC Holdings, one of the appointed chief operating Hobbs said: “We are thrilled to welcome Fiona to the held a number of key senior management roles within world’s largest sports betting and gaming groups, from officer (COO) of wealth executive team to help the firm continue to drive Bank of Ireland, Royal Bank of Scotland and Ulster 2008 to 2017. He was also a non-executive director and management firm Rowan forward our strategic plans and growth ambitions.” Bank. Commenting on the move, CRCH chairman chairman of the audit committee of Sportech from Dartington. Fiona will be Fiona will take over the role from Adrian Clark Nicky Hartery said: “With a track record of creating May 2017 to October 2018. Richard is currently a non- responsible for driving following his retirement after two years at the value for shareholders, [Richie] is ideally equipped to executive director of two small quoted companies: VR operational efficiencies and company. lead the board through the next phase of the group’s Education Holdings, a technology focused education the development and development.” company, and Newgiocco, an online sports betting execution of the firm’s CRH company. Equals Group chief executive officer Ian strategic priorities. Fiona Building materials firm CRH yesterday announced the EQUALS GROUP Strafford-Taylor commented on Richard’s comes to the firm with 20 appointment of Richie Boucher as its new chairman. E-banking and international payments firm Equals appointment, saying: "We look forward to the benefit years’ diversified experience in consulting and The FTSE 100 company employs around 90,000 people Group has appointed Richard Cooper in a newly- of his extensive experience in growing public operations across the global financial services in 32 countries. Richie will succeed the present created executive board position as group finance companies at a time where we seek to expand through industry. Most recently, she worked at Deutsche Bank, chairman, Nicky Hartery, on 1 January 2020. Richie director. Richard joins the board with extensive public a combination of acquisitions and organic growth.”

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NEWS Foxtons chair steps down following Wework IPO woes not a turbuluent year and store closures worry, says rival Knotel AUGUST GRAHAM Watts, who also sits on the boards of its branches in the capital, JAMES WARRINGTON Wework has been forced to pull its of Coca-Cola in Europe and chairs including its flagship Park Lane IPO after a frosty reception from in- @AugustGraham Spite Healthcare, has overseen a near- office. @j_a_warrington vestors, leading chief executive Adam THE CHAIR of Foxtons said he would decimation of the company’s share In his statement yesterday, Watts WEWORK’s ill-fated initial public of- Neumann to step down. step down yesterday morning after price. recognised the problems again. fering (IPO) will have only a “limited” But Dugarin said Knotel had set it- half a dozen years at the head of the Yesterday’s 51.10p price was 81 per “A series of challenges to the impact on the fortunes of flexible self apart by focusing on flexible of- board during which the share price cent lower than when it listed in health of the London property workspace rival Knotel, the firm’s boss fices for larger businesses, rather than has plummeted. 2013, and down 87 per cent on its market have impaired its recent has said. coworking spaces for startups. Gary Watts will have stepped down peak in 2014. trading performance but its balanced Tom Dugarin, Knotel’s UK general “We’ve always focused on this prod- by the time the real estate agent Shares fell 0.7 per cent yesterday business model, strong net cash manager, played down concerns about uct and, if anything, they [Wework] holds its annual general meeting in after the news Watts would leave. position and robust operating Wework’s troubled listing, saying his have pivoted their business more to- May next year. In the last year Foxtons has structure means that it is well placed company had a more sustainable busi- wards ours, which is the larger enter- He paid homage to an “excellent repeatedly cited poor conditions on to benefit from a recovery in sales ness model. prise business,” he said. company with a great team” and the London property market as it volumes,” he said. “Wework is a very good business at Dugarin added that his firm had chairing it has been a “pleasure”. struggled to keep revenues above Ian Barlow, a director who will what it does, which is coworking,” he been more disciplined with its spend- However his time in charge has not water and widened its losses. take over Watts’ role, has served on told City A.M. “I think it really has lim- ing than Wework, which has splashed been without challenges. In late 2018 the company closed six the board since 2013. ited knock-on to our business.” out $2 for every $1 it makes. CITYAM.COM FRIDAY 27 SEPTEMBER 2019 MARKETS 17

FTSE 100 FTSE 250 FTSE ALL SHARE DOW JONES NASDAQ S&P 500 /€ 1.1278 0.0008 €/$ 1.0919 0.0023 7351.08 19818.61 4031.56 26891.12 8030.66 2977.62 /$ 1.2315 0.0036 €/£ 0.8865 0.0009 61.09 43.69 27.96 79.59 46.72 7.25 /¥ 132.80 0.0314 €/¥ 117.74 0.0183

                               

Marshalls ...... 661.5 2.0 696.0 412.2 Euromoney Institu . . .1476.0 -10.0 1498.0 1132.0 Derwent London . . . .3330.0 92.0 3330.0 2761.0 Mitchells & Butle ...... 377.5 1.5 389.5 238.0 GILTS FINANCIAL SERVICES GAS, WATER & MULTIUTILITIES Reckitt Benckiser . . . .6577.0 156.0 7155.0 5593.0 National Express . . . . .433.6 2.0 438.4 361.4 Polypipe Group ...... 397.6 6.8 453.8 307.8 Redrow ...... 612.0 0.0 674.6 460.8 Future ...... 1238.0 0.0 1324.0 410.0 Great Portland Es . . . . .742.0 15.0 773.6 649.4 Goco Group ...... 81.6 5.9 101.0 64.6 PPHE Hotel Group . . .1800.0 40.0 1990.0 1525.0 Tsy 2.500 20 ...... 355.12 -0.01 361.4 354.6 ELECTRICITY 3i Group ...... 1146.0 34.5 1164.5 756.2 Centrica ...... 72.8 1.6 155.6 64.6 Taylor Wimpey ...... 160.6 0.6 192.3 129.3 Hammerson ...... 280.4 0.7 465.1 203.9 Tsy 2.000 20 ...... 101.14 -0.01 102.2 101.1 3i Infrastructure ...... 294.0 2.5 306.5 240.3 National Grid ...... 887.0 23.7 889.4 748.7 Haynes Publishing . . . .288.0 4.0 289.1 160.0 Rank Group ...... 182.4 4.8 188.1 135.0 Land Securities G . . . . .854.8 15.0 936.0 735.4 140.1 -1.1 221.9 111.9 Tsy 3.750 20 ...... 102.99 -0.01 105.7 103.0 Contour Global ...... 181.0 0.0 218.0 150.1 AJ Bell ...... 416.0 15.0 477.0 220.0 Pennon Group ...... 792.2 15.4 792.8 684.2 INDUSTRIAL ENGINEERING Huntsworth ...... 83.0 -5.9 118.5 81.0 LondonMetric Prop . . . .217.2 3.2 217.2 172.7 Restaurant Group . . . . . Tsy 4.750 20 ...... 101.83 -0.01 105.7 101.8 Allied Minds ...... 51.2 -6.6 84.2 37.3 Hyve Group ...... 82.8 -0.3 84.7 56.3 Stagecoach Group . . . . .136.2 -1.0 177.0 115.5 Drax Group ...... 278.0 2.6 427.2 260.2 Severn Trent ...... 2135.0 64.0 2153.0 1770.0 Bodycote ...... 692.5 -0.5 925.5 654.0 Primary Health Pr . . . . .133.0 -0.2 139.8 106.4 TUI AG Reg Shs (D . . . .926.0 -1.0 1474.0 698.0 Tsy 8.000 21 ...... 112.77 -0.01 118.9 112.4 ...... 1240.0 13.5 1245.5 1008.0 Amigo Holdings ...... 68.1 -3.5 297.5 68.0 United Utilities ...... 813.4 22.6 873.6 682.4 Informa ...... 842.4 18.0 892.0 605.8 806.6 17.4 810.8 585.2 SSE . . . Hill & Smith Hold . . . . .1225.0 7.0 1306.0 902.5 SEGRO ...... Wetherspoon (J.D. . . .1530.0 -3.0 1624.0 1066.0 Tsy 1.875 22 ...... 116.59 0.02 118.3 115.5 Arrow Global Grou . . . .213.0 3.2 273.0 167.2 IMI ...... 951.0 1.8 1155.0 870.0 ITV ...... 124.9 -0.2 162.3 103.6 Shaftesbury ...... 908.5 12.0 928.5 739.5 Tsy 0.500 22 ...... 100.37 0.03 100.7 97.7 ELECTRONIC & ELECTRICAL EQ. ASA International . . . . .350.0 -5.0 493.6 320.0 GENERAL INDUSTRIALS Moneysupermarket. . . .374.4 4.6 417.7 264.0 Whitbread ...... 4393.0 44.0 5114.0 4086.0 Melrose Industrie . . . . .201.0 2.4 208.5 146.3 Tritax Big Box Re ...... 150.6 2.1 159.7 129.0 William Hill ...... 183.9 0.5 256.2 132.3 Tsy 4.000 22 ...... 108.86 -0.01 110.7 108.5 Halma ...... 1944.5 30.5 2094.0 1237.0 Ashmore Group ...... 487.8 9.6 542.5 341.2 Smith (DS) ...... 345.1 1.4 491.4 292.2 Pearson ...... 740.0-120.8 1027.5 694.6 RHI Magnesita N.V . . .4032.0 -38.0 5000.0 3318.0 Unite Group ...... 1097.0 21.0 1099.0 797.5 Wizz Air Holdings . . . .3584.0 1.0 3769.0 2329.0 Tsy 2.250 23 ...... 107.41 0.04 107.9 104.7 Morgan Advanced M . .253.4 0.4 338.8 237.0 Brewin Dolphin Ho . . . .312.4 -1.4 358.0 287.6 Smiths Group ...... 1570.0 0.5 1692.0 1279.5 Rotork ...... 308.7 3.7 340.8 235.7 Reach ...... 91.5 0.5 94.9 54.6 Workspace Group . . . . .951.5 15.0 1031.0 789.5 Tsy 2.500 24 ...... 374.70 0.02 377.9 359.0 Oxford Instrument . . .1236.0 4.0 1424.0 842.0 Charter Court Fin . . . . .303.0 5.5 375.0 228.8 Smurfit Kappa Gro . . .2368.0 14.0 3046.0 1934.0 Spirax-Sarco Engi . . . .7770.0 125.0 9400.0 5900.0 Relx plc ...... 1925.5 41.0 2011.0 1491.5 AIM 50 Tsy 0.125 24 ...... 114.91 0.03 115.8 110.9 City of London In . . . . .420.0 -7.0 440.0 360.0 Rightmove ...... 545.8 5.8 585.1 420.9 SOFTWARE & COMPUTER SERV. Renishaw ...... 3570.0 6.0 4860.0 3368.0 Vesuvius ...... 453.8 -3.6 662.0 448.8 Weir Group ...... 1411.0 -13.5 1814.0 1240.0 Abcam ...... 1151.0 21.0 1500.0 1017.0 Tsy 5.000 25 ...... 125.13 0.04 126.1 122.1 Spectris ...... 2415.0 -12.0 2898.0 1966.5 CMC Markets ...... 106.0 -0.2 146.6 77.4 STV Group ...... 384.0 11.5 400.0 318.0 Avast ...... 382.2 9.8 393.4 259.6 GENERAL RETAILERS INDUSTRIAL METALS & MINING WPP ...... 986.6 8.6 1156.0 800.4 Advanced Medical . . . .244.0 -12.5 354.5 225.0 Tsy 1.250 27 ...... 139.47 0.09 141.1 128.4 EQUITY INVESTMENT INSTRUM. Coats Group ...... 76.3 0.6 91.3 69.8 Aveva Group ...... 3712.0 148.0 4170.0 2284.0 Tsy 4.250 27 ...... 131.46 0.05 132.8 122.6 Georgia Capital ...... 1010.0 -18.0 1260.0 941.0 Auto Trader Group . . . .508.8 8.4 606.0 388.5 Computacenter ...... 1261.0 16.0 1525.0 952.0 Alliance Pharma ...... 70.0 -3.2 80.4 60.0 Evraz ...... 460.0 -5.5 709.4 442.1 MINING ASOS ...... 2347.0-107.0 6050.0 2107.0 Tsy 6.000 28 ...... 150.37 0.04 152.2 140.5 Aberforth Smaller . . . .1246.0 14.0 1338.0 1114.0 Hargreaves Lansdo . .2039.0 34.0 2433.0 1633.0 B&M European Valu . . .378.4 -0.6 426.3 278.6 Ferrexpo ...... 168.5 -0.6 301.3 167.0 FDM Group (Holdin . . . .755.0 1.0 996.0 734.0 Tsy 0.125 29 ...... 133.40 0.13 134.7 118.8 IG Group Holdings . . . . .611.8 -27.2 733.5 474.8 Card Factory ...... 167.0 -11.2 209.0 151.2 Anglo American . . . . .1840.6 -1.0 2266.0 1539.0 Blue Prism Group . . . .1007.0 57.0 2375.0 862.0 Alliance Trust ...... 799.0 5.0 838.0 672.0 Kainos Group ...... 438.0 8.0 676.0 366.0 .9625.0 50.0 11750.0 9100.0 Tsy 4.125 30 ...... 398.26 0.04 404.2 355.2 Apax Global Alpha . . . .149.0 -0.5 159.5 127.0 IntegraFin Holdin . . . . .392.0 -0.5 406.1 269.0 Dixons Carphone ...... 121.0 -1.6 178.6 104.9 INDUSTRIAL TRANSPORTATION Antofagasta ...... 887.8 6.6 1022.5 727.2 Micro Focus Inter ...... 1111.8 5.4 2491.6 1051.4 Camellia ...... Tsy 4.750 30 ...... 145.90 0.05 147.9 132.1 Intermediate Capi . . . .1432.0 27.0 1448.0 899.0 BHP Group ...... 1734.6 1.6 2049.0 1490.6 ...... 431.3 0.4 500.6 360.5 CareTech Holding . . . . .365.0 5.0 406.0 325.0 AVI Global Trust ...... 749.0 8.0 781.0 660.0 Dunelm Group ...... 840.5 5.5 981.0 482.8 BBA Aviation ...... 310.0 -6.6 324.8 207.0 Playtech Central Asia Meta ...... 197.4 -2.0 266.5 180.0 Tsy 1.250 32 ...... 164.85 0.07 167.7 144.3 .0 12.0 866.0 663.0 International Per . . . . .106.4 1.4 228.0 87.0 Inchcape ...... 631.0 4.0 671.5 486.6 Centamin (DI) ...... 129.1 2.4 152.4 79.8 Baillie Gifford J ...... 836 Clarkson ...... 2400.0 5.0 2860.0 1878.0 Sage Group ...... 684.0 16.0 820.4 525.6 Ceres Power Holdi . . . .216.0 5.0 217.0 130.0 Tsy 4.250 32 ...... 144.01 0.04 146.4 128.5 Bankers Inv Trust . . . . .949.0 4.0 970.0 766.0 Investec ...... 420.4 5.8 557.2 400.7 JD Sports Fashion . . . . .724.0 22.6 728.8 318.5 Fresnillo ...... 730.2 -7.0 1027.5 601.0 Fisher (James) & . . . .2045.0 40.0 2260.0 1600.0 Softcat ...... 990.5 10.5 1044.0 565.0 .0 721.0 Tsy 4.250 36 ...... 153.34 0.03 155.7 133.1 BBGI SICAV S.A. ( ...... 156.5 0.0 168.0 146.5 IP Group ...... 58.2 -0.8 131.2 55.7 Just Eat ...... 656.4 13.2 812.0 533.8 Glencore ...... 243.3 0.3 340.3 222.2 Sophos Group ...... 387.2 -3.7 502.5 298.2 Clinigen Group ...... 894.0 -27.5 1069 Royal Mail ...... 210.8 -2.1 480.5 188.4 CVS Group ...... 910.0 6.5 1023.0 395.0 Tsy 0.125 36 ...... 159.69 0.13 162.5 133.8 BlackRock Smaller . . .1382.0 0.0 1482.0 1160.0 John Laing Group . . . . .360.0 1.0 402.0 296.2 Kingfisher ...... 201.6 -0.6 266.2 188.0 Hochschild Mining . . . . .218.8 2.4 227.0 149.1 Aggreko ...... 837.0 19.6 876.6 691.8 Tsy 4.750 38 ...... 169.24 0.04 171.8 144.9 JTC ...... 352.0 -13.0 440.0 287.0 Marks & Spencer G . . . .180.3 -1.8 299.1 176.9 Kaz Minerals ...... 420.6 -1.9 738.4 380.3 Dart Group ...... 883.5 -16.5 983.5 709.5 BMO Global Smalle . . .1356.0 4.0 1480.0 1220.0 Diversified Gas & ...... 107.5 1.0 134.0 97.0 Tsy 0.625 40 ...... 182.07 0.14 185.7 153.1 Caledonia Investm . . .3025.0 35.0 3110.0 2650.0 Jupiter Fund Mana . . . .353.3 2.3 432.0 287.6 Polymetal Interna . . . .1177.5 13.5 1208.5 604.2 SUPPORT SERVICES Tsy 4.500 42 ...... 174.57 0.04 176.7 145.9 Liontrust Asset M . . . . .752.0 -24.0 816.0 532.0 Rio Tinto ...... 4165.5 -11.0 4976.5 3513.5 Ashtead Group ...... 2258.0 22.0 2438.0 1586.5 Draper Esprit ...... 410.0 -20.0 625.0 405.0 City of London In . . . . .418.0 3.0 431.5 376.0 Eland Oil & Gas ...... 129.1 1.1 134.0 97.0 Tsy 3.500 45 ...... 157.29 0.04 159.0 128.0 Edinburgh Inv Tru . . . .590.0 4.0 679.0 535.0 LMS Capital ...... 55.3 0.0 57.8 44.0 MOBILE TELECOMS BCA Marketplace ...... 235.4 -0.2 247.0 178.5 Tsy 4.250 46 ...... 179.10 0.04 181.0 145.7 London Finance & . . . . .38.5 0.0 42.5 37.5 EMIS Group ...... 1038.0 -22.0 1242.0 864.0 F&C Investment Tr . . . . .711.0 5.0 731.0 616.0 Bunzl ...... 2090.0 15.0 2551.0 1978.5 vertree Drinks . . . . .2388.0 -2.0 3682.0 2070.0 Tsy 4.025 49 ...... 186.55 0.06 188.9 150.0 Fidelity China Sp ...... 217.0 0.0 250.0 182.4 London Stock Exch . . .7350.0 96.0 7514.0 3867.0 Inmarsat ...... 586.2 6.2 608.2 362.8 Capita ...... 144.2 0.2 146.3 99.9 Fe Tsy 0.500 50 ...... 216.05 0.20 222.9 173.7 Man Group ...... 172.2 3.3 179.0 126.8 MAIN CHANGES UK 350 Vodafone Group ...... 162.9 2.3 168.9 123.3 First Derivatives . . . . .2280.0 0.0 4130.0 2050.0 Fidelity European . . . . .246.0 -0.5 257.5 202.0 DCC ...... 7046.0 146.0 7310.0 5555.0 Frontier Developm . . . .979.0 -12.0 1385.0 740.0 Tsy 0.250 52 ...... 213.43 0.09 221.1 168.8 Fidelity Special ...... 257.5 2.0 275.0 220.0 OneSavings Bank . . . . .366.2 4.2 447.4 313.6 OIL & GAS PRODUCERS Diploma ...... 1646.0 -8.0 1689.0 1150.0 Finsbury Growth & . . . .933.0 10.0 958.0 740.0 Paragon Banking G . . .472.2 3.6 478.8 379.2     Electrocomponents . . .647.0 -2.0 749.4 480.0 Gamma Communicati 1085.0 0.0 1195.0 688.0  . .540.0 -1.0 631.0 410.5 Foresight Solar F ...... 125.0 0.0 126.0 107.5 Plus500 Ltd (DI) ...... 763.8 -4.6 1647.0 495.0  BP ...... 514.3 5.6 598.3 485.9 Equiniti Group ...... 216.2 3.4 266.0 186.2 GB Group ...... AEROSPACE & DEFENCE Provident Financi . . . . .399.0 -3.0 658.6 356.0 Aston Martin Lagon ...... 582.2 5.7 Pearson ...... 740.0 -14.0 Cairn Energy ...... 187.5 -6.3 233.6 140.0 Gooch & Housego . . . .1190.0 2.5 1880.0 954.0 GCP Infrastructur ...... 126.4 0.2 130.8 122.4 Essentra ...... 413.0 -8.2 442.0 325.4 Hurricane Energy ...... 42.6 -0.6 60.8 38.9 Genesis Emerging . . . .760.0 9.0 783.0 615.0 Quilter ...... 135.7 0.3 156.6 110.6 Aveva Group ...... 3712.0 4.2 Imperial Brands ...... 1798.2 -12.9 Energean Oil & Ga . . . . .931.0 -16.0 1082.0 568.0 Experian ...... 2571.0 56.0 2631.0 1728.5 AE Systems ...... 572.0 7.4 629.8 443.9 Rathbone Brothers . . .2245.0 -25.0 2540.0 2085.0 Next ...... 6028.0 4.0 SSP Group ...... 608.0 -9.0 Premier Oil ...... 77.4 -1.8 143.6 55.6 Impax Asset Manag . . .235.0 -1.5 295.0 184.0 obham ...... 157.8 -0.5 168.3 96.8 Greencoat UK Wind . . . .141.8 0.8 143.2 124.4 Ferguson ...... 5914.0 22.0 6556.0 4749.0 HarbourVest Globa . . .1756.0 8.0 1770.0 1326.0 Real Estate Credi ...... 167.0 1.5 175.5 163.0 Royal Dutch Shell . . . .2363.0 24.5 2666.0 2213.0 Finablr ...... 155.0 0.0 180.0 140.0 Iomart Group ...... 340.0 -0.5 440.0 308.0 Meggitt ...... 638.6 3.0 646.0 458.0 AJ Bell ...... 416.0 3.7 Sirius Minerals ...... 3.7 -9.0 IQE ...... 63.7 3.0 98.0 47.6 Herald Investment . . .1298.0 14.0 1364.0 1055.0 Record ...... 33.5 -0.5 41.0 27.3 Royal Dutch Shell . . . .2358.0 29.5 2705.5 2227.0 G4S ...... 189.3 -0.9 245.8 168.3 QinetiQ Group ...... 288.0 3.4 312.4 267.0 Ultra Electronics ...... 2078.0 3.7 Carnival ...... 3389.0 -7.2 James Halstead ...... 516.0 4.0 532.0 367.0 HGCapital Trust ...... 232.0 4.5 237.0 175.0 River and Mercant . . . .260.5 2.0 322.0 212.0 Vivo Energy ...... 123.4 3.5 Card Factory ...... 167.0 -6.3 Tullow Oil ...... 213.3 -3.5 266.3 165.2 Grafton Group Uni . . . .758.5 -1.5 937.0 630.0 Rolls-Royce Holdi . . . . .785.6 4.8 990.4 730.0 S&U ...... 2110.0 -10.0 2605.0 1767.5 Hays ...... 147.5 2.5 209.2 135.7 Johnson Service G . . . . .172.0 1.0 183.2 113.6 enior ...... 186.3 -1.3 323.0 184.8 HICL Infrastructu ...... 167.0 0.4 170.1 149.9 PureTech Health ...... 237.0 3.5 IG Group Holdings ...... 611.8 -4.3 OIL EQUIPMENT & SERVICES Sanne Group ...... 545.0 1.0 752.0 450.0 ...... 1160.0 13.0 1263.0 849.0 Keywords Studios . . . .1130.0 -20.0 1954.0 900.0 Ultra Electronics . . . . .2078.0 74.0 2252.0 1232.0 International Pub . . . . .154.4 0.0 165.4 146.8 Homeserve Learning Technolo . . . . .113.0 1.0 166.5 62.2 JPMorgan American . . .473.5 2.0 494.5 386.5 Schroders ...... 3029.0 26.0 3210.0 2334.0 JD Sports Fashion ...... 724.0 3.2 TBC Bank Group ...... 1234.0 -4.0 Hunting ...... 465.2 -2.4 813.5 414.2 Howden Joinery Gr . . .548.2 -1.4 573.4 416.4 BANKS JPMorgan Emerging . .986.0 11.0 1066.0 759.0 Standard Life Abe . . . .280.6 3.5 361.1 224.9 3i Group ...... 1146.0 3.1 International Cons ...... 461.0 -4.0 Petrofac Ltd...... 403.7 -3.3 663.4 381.5 Intertek Group ...... 5438.0 36.0 5962.0 4387.0 M. P. Evans Group . . . . .637.0 -8.0 733.0 623.0 TP ICAP ...... 338.1 -0.1 346.9 267.2 Severn Trent ...... 2135.0 3.1 Network Internatio ...... 531.0 -3.5 Wood Group (John) . . .386.2 -9.8 796.4 357.5 Midwich Group ...... 520.0 -9.0 685.0 474.5 ank of Georgia G . . . .1298.0 22.0 1755.0 1276.0 JPMorgan Indian I . . . . .747.0 7.0 790.0 566.0 Network Internati . . . . .531.0 -19.0 628.0 500.0 Mortgage Advice B . . .568.0 8.0 627.0 490.0 JPMorgan Japanese . . .446.0 2.5 463.0 367.0 Walker Crips Grou . . . . .26.5 0.0 37.5 24.0 Pagegroup ...... 433.2 1.8 583.5 407.2 arclays ...... 149.1 1.0 178.9 136.2 XPS Pensions Grou . . . .114.0 0.0 171.0 95.0 PERSONAL GOODS Next Fifteen Comm . . .530.0 -6.0 658.0 469.0 Jupiter European . . . . .834.0 6.0 875.0 666.0         PayPoint ...... 910.0 -10.0 1118.0 748.0 lose Brothers Gr . . . . .1357.0 3.0 1605.0 1227.0 Burberry Group ...... 2139.0 33.0 2345.0 1623.5 .462.9 5.9 468.3 284.8 Nichols ...... 1545.0 -5.0 1880.0 1240.0 YBG ...... 113.2 -1.8 326.4 110.0 Law Debenture Cor . . . .578.0 -2.0 618.0 534.0 FIXED LINE TELECOMS Rentokil Initial ...... 8.5 2.0 213.4 168.0 PZ Cussons ...... 202.0 -4.0 244.0 178.6 Numis Corporation . . . .241.5 1.5 387.0 221.5 HSBC Holdings ...... 619.2 3.4 682.0 580.9 Mercantile Invest . . . . .20 Next ...... 6028.0 232.0 6170.0 3991.0 NON LIFE INSURANCE Robert Walters ...... 528.0 0.0 538.0 524.0 Pan African Resou ...... 11.5 -0.5 14.5 7.9 Monks Inv Trust ...... 903.0 8.0 964.0 710.0 BT Group ...... 174.8 0.3 264.7 158.9 Pets at Home Grou . . . .213.0 5.6 239.4 110.0 PHARMACEUTICALS & BIOTECH Serco Group ...... 147.5 1.2 152.0 84.1 loyds Banking Gr . . . . .53.6 0.2 66.6 48.6 TalkTalk Telecom . . . . .103.8 2.9 132.8 96.6 Polar Capital Hol . . . . .544.0 4.0 616.0 448.0 Royal Bank of Sco . . . .204.9 1.4 270.4 177.7 Murray Internatio . . . .1190.0 8.0 1212.0 1056.0 Sports Direct Int ...... 271.8 -2.4 343.8 214.0 Admiral Group ...... 2100.0 -7.0 2300.0 1932.5 SIG ...... 123.0 -0.7 153.0 102.2 Telecom Plus ...... 1182.0 -16.0 1528.0 1040.0 AstraZeneca ...... 7379.0 51.0 7533.0 5325.0 5.0 7.0 1465.0 970.0 Purplebricks Grou . . . . .110.8 -6.4 245.0 90.0 tandard Chartere . . . .680.4 5.4 736.8 519.8 NB Global Floatin ...... 89.1 0.1 92.7 87.6 Vivo Energy ...... 123.4 4.2 139.5 96.0 Beazley ...... 620.5 5.0 624.0 492.6 Travis Perkins ...... 132 Redde ...... 114.8 1.6 194.8 90.0 NextEnergy Solar . . . . .121.5 1.0 124.5 109.0 WH Smith ...... 1954.0 -37.0 2186.0 1697.0 Direct Line Insur ...... 298.0 4.9 366.5 279.9 Dechra Pharmaceut . .2766.0 -16.0 3036.0 2014.0 BC Bank Group . . . . .1234.0 -52.0 1728.0 1220.0 FOOD & DRUG RETAILERS Genus ...... 2816.0 -34.0 2990.0 2098.0 TOBACCO Renew Holdings ...... 390.5 5.5 436.5 333.0 Pantheon Internat . . .2325.0 55.0 2332.3 1955.0 Hastings Group Ho . . . .204.2 0.4 267.8 174.0 RWS Holdings ...... 585.0 0.0 652.0 415.5 Perpetual Income . . . .309.0 0.0 354.0 284.5 Greggs ...... 2058.0 48.0 2476.0 1006.0 Hiscox Limited (D . . . .1640.0 17.0 1777.0 1418.0 GlaxoSmithKline ...... 1711.2 31.2 1745.2 1418.0 British American . . . .2934.5 10.0 3619.0 2375.0 Morrison (Wm) Sup . . .199.9 -2.1 261.1 176.9 HEALTH CARE EQUIPMETN & S. Hikma Pharmaceuti . .2187.0 32.0 2206.0 1510.5 Scapa Group ...... 219.0 -5.0 466.2 157.0 BEVERAGES Pershing Square H . . .1556.0 14.0 1570.0 990.0 Lancashire Holdin . . . . .727.0 9.5 728.0 530.0 Imperial Brands . . . . .1798.2-267.3 2750.0 1786.8 Secure Income Rei . . . .446.0 2.0 450.0 371.0 Personal Assets T . . .42650.0 250.0 43150.038900.0 Ocado Group ...... 1294.0 -5.0 1435.0 749.8 Assura ...... 70.5 0.0 72.2 52.4 RSA Insurance Gro . . . .525.0 7.2 634.0 496.6 PureTech Health ...... 237.0 8.0 292.0 160.5 arr (A.G.) ...... 590.0 -7.0 975.0 562.0 Sainsbury (J) ...... 220.6 4.1 324.0 177.1 TRAVEL & LEISURE Serica Energy ...... 126.2 0.0 142.0 77.0 ritvic ...... 983.0 8.5 987.7 745.0 Polar Capital Tec . . . . .1402.0 12.0 1500.0 1066.0 Convatec Group ...... 177.3 -0.9 239.0 118.6 Sabre Insurance G . . . .286.0 1.0 294.0 249.0 REAL ESTATE INVEST. & SERV. 0.0 2170.0 1892.0 SSP Group ...... 608.0 -60.0 744.4 606.0 . . . . .3389.0-263.0 4993.0 3352.0 Smart Metering Sy . . . .368.0 8.0 665.0 310.0 oca-Cola HBC AG . . .2626.0 24.0 3074.0 2244.0 RIT Capital Partn . . . . .2145.0 1 Mediclinic Intern ...... 337.8 0.8 474.7 293.4 Carnival ...... Telford Homes ...... 349.5 0.0 430.0 267.0 Riverstone Energy . . . .614.0 -7.0 1282.0 607.0 Tesco ...... 240.9 3.0 253.0 189.6 LIFE INSURANCE BMO Commercial Pr . . . .117.2 -1.0 141.8 106.0 Cineworld Group ...... 230.1 -1.4 323.6 212.0 Diageo ...... 3282.0 49.0 3625.5 2523.5 NMC Health ...... 2700.0 -19.0 3678.0 1801.5 Thorpe (F.W.) ...... 290.0 -3.0 340.0 248.0 79.0 UDG Healthcare Pu . . . .749.0 -5.0 821.0 551.0 Capital & Countie . . . . .230.0 3.1 279.5 184.9 .2070.0 48.0 2138.0 1483.0 Schroder Asia Pac . . . . .437.0 3.5 469.5 3 Smith & Nephew . . . .1962.0 24.5 1990.0 1258.0 Aviva ...... 391.2 3.7 497.0 352.3 Compass Group . . . . Watkin Jones ...... 223.5 0.0 232.5 192.2 CHEMICALS Scottish Inv Trus ...... 833.0 5.0 872.0 748.0 FOOD PRODUCERS Legal & General G . . . . .246.6 1.7 291.2 216.7 CLS Holdings ...... 235.0 0.0 255.0 195.4 Domino's Pizza Gr . . . .250.0 1.2 297.2 221.2 HHOLD GDS & HOME CONSTR. Daejan Holdings . . . . .4970.0 -15.0 6160.0 4715.0 0.8 0.0 285.0 161.2 Young & Co's Brew . . .1602.5 22.5 1885.0 1322.5 roda Internation . . . .4802.0 2.0 5447.7 4564.0 Scottish Mortgage . . . .503.0 5.0 568.5 441.4 Phoenix Group Hol . . . .682.4 6.3 724.8 544.0 EI Group ...... 28 Young & Co's Brew . . . .1145.0 -5.0 1195.0 1030.0 Economic . . . .115.4 0.4 117.6 106.0 Associated Britis . . . . .2308.0 9.0 2638.0 2041.0 Grainger ...... 245.0 1.8 274.4 205.8 FirstGroup ...... 135.6 2.4 135.9 79.3 lementis ...... 147.1 -0.8 245.8 129.8 Sequoia Barratt Developme . . . .631.2 -3.6 663.0 434.0 Prudential ...... 1441.5 23.0 1805.0 1326.0 Smithson Investme . .1248.0 16.0 1280.0 1000.2 Bakkavor Group ...... 114.2 -0.8 170.0 93.3 Bellway ...... 3254.0 12.0 3301.0 2419.0 St James's Place ...... 949.4 4.4 1154.5 914.0 NewRiver REIT ...... 188.2 2.0 264.0 147.6 Flutter Entertain . . . . .7560.0 74.0 7612.0 5525.0 ohnson Matthey . . . .2994.0 14.0 3598.0 2620.0 Syncona Limited N . . . .223.0 1.0 302.5 213.5 Cranswick ...... 2946.0 16.0 3454.0 2472.0 Safestore Holding . . . .660.5 16.0 681.0 499.4 Go-Ahead Group . . . .2094.0 -12.0 2208.0 1480.0 irius Minerals ...... 3.7 -0.4 29.2 3.7 Berkeley Group Ho . . .4161.0 22.0 4208.0 3226.0 MEDIA CONSTRUCTION & MATERIALS Temple Bar Inv Tr . . . .1254.0 14.0 1366.0 1116.0 Greencore Group . . . . .224.4 -1.2 230.0 162.9 Bovis Homes Group . .1079.0 -15.0 1177.0 828.0 Savills ...... 875.5 -1.0 957.0 678.5 Greene King ...... 845.4 0.0 850.0 480.0 ynthomer ...... 321.0 -4.0 513.0 279.8 Hilton Food Group . . . .965.0 5.0 1088.0 884.0 Sirius Real Estat ...... 73.2 0.5 75.2 55.6 Victrex plc ...... 2142.0 4.0 3386.0 1845.0 Templeton Emergin . . .789.0 8.0 829.0 649.0 Countryside Prope . . . .323.2 0.8 349.0 270.0 4Imprint Group . . . . .2970.0 -20.0 3130.0 1800.0 GVC Holdings ...... 734.2 -0.2 960.0 507.5 The Renewables In . . . .131.0 0.4 133.2 109.3 Tate & Lyle ...... 717.0 2.0 800.4 633.4 Crest Nicholson H . . . . .377.0 -1.0 404.8 296.4 Ascential ...... 378.2 1.6 424.4 337.2 St. Modwen Proper . . . .421.5 -2.5 446.5 365.0 InterContinental . . . .5010.0 53.0 5738.0 3958.4 CONSTRUCTION & MATERIALS TR Property Inv T . . . . .425.0 2.0 430.0 353.5 Unilever ...... 4903.0 41.5 5324.0 3931.0 McCarthy & Stone . . . . .147.7 -0.8 150.1 123.5 Bloomsbury Publis . . . .233.0 -5.0 245.0 190.5 REAL ESTATE INVEST. TRUSTS International Con . . . . .461.0 -19.1 667.6 413.5 Vietnam Enterpris . . . .498.5 -0.5 509.0 421.5 Marston's ...... 131.3 3.2 131.4 90.6 alfour Beatty ...... 218.8 -1.6 295.0 194.2 FORESTRY & PAPER Persimmon ...... 2067.0 14.0 2471.0 1836.0 Centaur Media ...... 42.0 3.5 56.5 34.7      VinaCapital Vietn . . . . .343.0 3.0 357.5 318.0 Entertainment One . . . .567.5 -1.5 589.0 336.4 UK Commercial Pro . . . .84.5 -1.0 92.7 79.9 Merlin Entertainm . . . . .452.1 0.2 453.4 307.1 RH ...... 2718.0 38.0 2837.0 1971.5 Witan Inv Trust ...... 214.5 1.5 225.5 189.6 Mondi ...... 1519.5 2.5 2134.0 1510.5 Big Yellow Group . . . .1040.0 6.0 1074.0 852.5 Millennium & Copt . . . .680.0 -5.0 685.0 436.0  alliford Try ...... 649.0 -5.0 1028.0 512.0 British Land Comp . . . .573.6 5.2 624.8 468.3 bstock ...... 235.2 2.6 262.0 193.1 Worldwide Healthc . .2650.0 -15.0 2915.0 2325.0        

EU SHARES US SHARES         B INBEV ...... 86.82 0.60 92.71 56.32 3M...... 163.83 -0.17 219.75 154.00 DIDAS N ...... 279.05 10.05 297.95 178.30 ABBOTT LABORATOR...... 82.66 -0.20 88.76 65.44 IR LIQUIDE ...... 129.65 0.65 131.15 101.85 ACCENTURE-A...... 192.12 1.25 202.80 132.63 IRBUS BR...... 119.54 -1.42 133.86 77.50 ADOBE ...... 283.81 6.38 313.11 204.95 LLIANZ...... 211.05 1.95 218.70 170.50 NEWSLETTERS ALPHAB RG-C-NV...... 1241.39 -5.13 1289.27 970.11 MADEUS IT GRP BR-A ...... 65.28 0.00 82.20 58.06 ALPHABET-A...... 1242.29 -3.65 1296.98 977.66 SML HLDG ...... 226.40 2.55 228.65 130.12 AMAZON.COM ...... 1739.84 -28.49 2035.80 1307.00 XA...... 23.06 0.07 23.99 18.40 AMERICAN EXPRESS...... 118.91 -0.21 129.34 89.05 ANCO SANTANDER...... 3.64 -0.01 4.68 3.39 APPLE...... 219.89 -1.14 233.47 142.00 ASF N ...... 62.33 0.41 80.21 55.72 AT&T...... 37.38 0.00 38.75 26.80 AYER N...... 64.68 -1.61 79.69 52.00 The biggest stories BANK OF AMERICA...... 29.13 -0.12 31.17 22.66 BVA...... 4.69 0.02 5.68 4.19 BERKSHIRE HATH RG-B...... 206.90 -1.21 224.07 186.10 MW ...... 63.18 -0.15 79.31 58.10 BOEING CO...... 386.89 0.69 446.01 292.47 NP PARIBAS A...... 43.85 0.34 54.99 38.14 direct to your inbox CATERPILLAR...... 126.39 -0.22 159.37 111.75 RH PLC ...... 30.80 0.56 34.87 26.53 CHEVRON...... 120.16 -3.35 127.60 100.22 AIMLER N...... 44.94 -0.52 59.90 40.35 CISCO SYSTEMS...... 48.83 -0.78 58.26 40.25 ANONE ...... 79.88 1.08 82.38 59.72 CITIGROUP...... 69.11 -0.27 73.99 48.42 EUTSCHE BOERSE N...... 142.30 2.85 142.30 102.50 COCA-COLA CO ...... 54.39 0.22 55.92 44.25 EUTSCHE POST N...... 30.18 0.53 31.59 23.43 COMCAST-A...... 44.90 -0.93 47.27 32.61 COSTCO WHSL...... 288.26 -0.25 307.34 189.51 EUTSCHE TELEKOM N...... 15.33 0.03 15.88 13.78 . GET THE MORNING UPDATE, DOW...... 47.23 -0.45 0.00 0.00 NEL N...... 6.83 0.10 6.86 4.26 EXXON MOBIL...... 70.97 -0.38 86.89 64.65 NGIE ...... 14.77 0.27 14.80 11.31 FACEBOOK-A...... 180.11 -2.69 208.66 123.02 NI N...... 13.93 0.07 16.67 12.92 CITY A.M.’S DAILY EMAIL GOLDMAN SACHS GR ...... 208.22 -1.81 234.06 151.70 SSILORLUXOTT...... 130.80 2.00 136.70 95.50 HOME DEPOT...... 229.79 1.69 235.49 158.09 RESENIUS...... 43.65 -0.13 69.76 38.50 IBM ...... 143.55 0.39 154.36 105.94 BERDROLA ...... 9.48 0.09 9.57 5.68 INTEL...... 50.92 -0.10 59.59 42.36 NDITEX...... 27.90 0.19 29.00 21.85 JOHNSON&JOHNSON...... 128.85 -2.14 148.99 121.00 NG GROUP...... 9.43 -0.02 12.14 8.20 CITYAM.COM/NEWSLETTER JPMORGAN CHASE...... 117.03 -0.97 120.40 91.11 NTESA SANPAOLO N...... 2.14 0.01 2.47 1.80 MASTERCARD RG-A...... 273.89 1.14 293.69 171.89 ERING...... 463.95 5.05 539.80 351.70 MCDONALD'S...... 212.60 -0.03 221.93 161.82 ON AH DEL BR...... 22.77 0.27 24.01 18.84 MEDTRONIC...... 107.40 -0.22 112.05 81.66 OREAL...... 251.10 4.80 257.80 182.00 COMMODITIES CREDIT & RATES MERCK...... 83.88 0.78 87.35 66.10 NDE...... 175.75 0.70 0.00 0.00 MICROSOFT...... 139.54 0.18 142.37 93.96 VMH...... 360.90 -0.30 392.65 242.30 Gold...... 1528.75 8.10 Copper Cash Official...... 5760.00 -42.00 BoE IR Overnight...... 0.750 0.00 Euro Base Rate ...... 0.000 0.00 NIKE -B-...... 92.17 1.36 92.79 66.53 Silver...... BoE IR 7 days...... 0.750 0.00 Finance house base rate...... 1.000 0.00 UENCHENER RUECKV N...... 235.10 1.50 236.20 181.20 ...... 18.57 0.01 Aluminium Cash Official...... 1751.00 -15.00 ORACLE ...... 53.96 0.12 60.50 42.40 OKIA ...... 4.52 -0.05 5.76 4.17 Brent Crude ...... 62.38 -0.21 BoE IR 1 month...... 0.750 0.00 US Fed funds...... 2.25 0.00 Nickel Cash Official ...... 17760.00 -570.00 BoE IR 3 months...... 0.750 0.00 US long bond yield...... 2.15 -0.03 PAYPAL HOLDINGS...... 104.55 0.41 121.48 74.66 RANGE...... 14.30 0.12 15.25 13.08 Krugerrand...... 1510.15 -13.75 Aluminium Alloy Cash Official...... 1250.00 -70.00 BoE IR 6 months...... 0.750 0.00 Euro Euribor...... -0.508 -0.00 PEPSICO...... 135.72 0.63 139.18 104.53 OY.PHILIPS...... 43.92 -0.42 44.60 29.05 Palladium...... 1672.00 16.00 Cocoa Futures...... 2471.00 31.00 LIBOR Euro - overnight ...... -0.574 0.00 The vix index...... 16.07 0.11 PFIZER...... 35.78 -0.12 46.47 33.97 AFRAN...... 143.55 1.25 144.50 99.98 Platinum...... 954.00 -3.00 Coffee 'C' Futures...... 100.88 -0.07 LIBOR Euro - 12 months...... -0.350 0.00 The baltic dry index...... 2053.00 63.00 PROCTER&GAMBLE...... 124.31 1.29 125.00 78.49 ANOFI...... 85.25 0.38 85.90 71.74 Tin Cash Official...... 16495.00 30.00 LIBOR USD - overnight...... 1.840 0.00 Markit iBoxx EUR ...... 249.79 -0.04 SALESFORCE.COM...... 152.34 -0.65 167.56 113.60 Feed Wheat Futures ...... 136.5 0.75 AP I...... 107.80 0.94 125.00 84.02 Lead Cash Official...... 2054.50 12.50 LIBOR USD - 12 months ...... 1.985 -2.02 Markit iBoxx GBP...... 361.94 -0.05 TRAVELERS COS...... 148.10 1.25 155.09 111.08 CHNEIDER EL...... 78.66 1.04 82.20 57.54 Zinc Cash Official...... 2314.00 -26.00 Soybeans Futures Continuation Contract ...887.60 -1.40 Halifax mortgage rate...... 3.990 0.00 Markit iBoxx USD...... 261.24 1.60 TWITTER ...... 42.44 -0.06 45.86 26.19 IEMENS N ...... 95.68 -0.29 111.96 84.72 UNITEDHEALTH GRO ...... 215.48 -6.69 287.94 208.07 OCIETE GENERALE...... 24.93 0.02 35.01 20.81 WORLD INDICES UTD TECHS...... 137.53 0.70 144.40 100.48 ELEFONICA...... 6.94 0.05 8.06 5.86                 VERIZON COMM ...... 60.44 0.17 61.58 52.28 OTAL...... 47.38 0.19 55.39 42.65 VISA RG-A...... 175.65 0.37 187.05 121.60 NILEVER...... 55.02 0.63 57.77 45.30 FTSE 100 ...... 7351.08 61.09 0.84 S&P 500 ...... 2977.62 -7.25 -0.24 CAC 40 ...... 5620.57 36.77 0.66 Hang Seng ...... 26041.93 96.58 0.37 WALGREENS BOOTS...... 54.08 -0.28 86.31 49.03 INCI...... 97.42 0.22 101.70 69.98 FTSE 250...... 19818.61 43.69 0.22 Dow Jones I.A...... 26891.12 -79.59 -0.30 Swiss Market Index...... 10010.71 95.89 0.97 Shanghai Composite ...... 2929.09 -26.35 -0.89 WALMART ...... 118.30 -0.17 119.86 85.78 IVENDI...... 24.94 0.12 26.69 20.80 FTSE All-Share ...... 4031.56 27.96 0.70 Nasdaq Composite ...... 8030.66 -46.72 -0.58 ISEQ Overall Index ...... 6101.84 35.27 0.58 STI Index...... 3127.40 6.53 0.21 WALT DISNEY...... 131.27 -1.82 147.15 100.35 OLKSWAGEN VZ I ...... 153.50 1.28 163.70 131.02 FTSE AIM All-Share...... 871.23 -3.46 -0.40 Xetra DAX ...... 12288.54 54.36 0.44 FTSEurofirst 300...... 1534.98 10.97 0.72 ASX All Ordinaries ...... 6785.60 -29.10 -0.43 WELLS FARGO...... 48.87 -0.39 55.04 43.02 18 OPINION FRIDAY 27 SEPTEMBER 2019 CITYAM.COM FORUM EDITED BY RACHEL CUNLIFFE LETTERS There’s more to worry about TO THE EDITOR with Trudeau than fancy dress We don’t work [Re: Reality is finally catching up with overblown Silicon Valley rhetoric] The push to get growth companies into IPO stage has reached obscene levels. N 2015, Justin Trudeau was has slipped. Harry I will seek, wherever possible, to un- Wework’s poor performance started long elected the 23rd Prime Minister Earlier this year, Canada’s attor- leash the awesome power of free ago; it has a dubious business case, no real of Canada, following the foot- ney general and justice minister Phibbs and open competition.” profitability, and was pushed by maximum Isteps of his father Pierre. And was suddenly demoted. She claims However, the choice facing Cana- profit and burning cash. Analysts want next month, Trudeau junior is that Trudeau lobbied her to pre- dians is a bit more complicated. hyper-growth stories, so we’ve seen recent seeking a second term in what vent a Canadian construction firm Trudeau’s Liberal Party has been IPOs – Lyft, Uber, and the planned Wework opinion polls suggest will be a which was facing corruption trying to shift the narrative from IPO – pushing valuations to the max, with closely fought contest. charges from being put on trial. economics to social issues, coming little regard for sustainable revenue and The main coverage of the election This is the sort of thing that Don- out strongly in favour of abortion profit. Meanwhile, mature, stable campaign in Britain has been the ald Trump might be able to shrug access and gay rights. Scheer is a businesses aren’t being considered. The revelations that the Canadian off. It is trickier for Trudeau, who Re-electing him Christian who has opposed same- problem is that, in a capital-hungry Prime Minister “blacked up” his relies so heavily on the smug, sex marriage, which allows the Lib- business model, there aren’t many options face at a fancy dress party in 2001. goody-two-shoes pitch. would send a signal erals to play the culture card. for growth companies other than to go The justification was that it was However, while these are the The environment is another big public and collect more cash to burn. It’s a an “Arabian Nights” theme and that scandals that have dominated cov- that Canada is issue, in Canada as in the rest of the pretty dire situation for Wework to be in, there was no malicious intent – erage of the Canadian election becoming a nation of world, as we saw with the adoration and even without its former chief why not darken your skin along abroad, I would suggest that other heaped on Greta Thunberg at this executive, it will take a superhuman effort with wearing a turban and robes? Trudeau misjudgements are rather nannying fusspots week’s UN summit. The Liberals to get its IPO back on track, or to raise cash However, the overwhelming reac- more worrying. claim the moral high ground, while through private channels. tion is that this behaviour was ex- In 2016, the news came through the Conservatives argue that tech- Sascha Ragtschaa, chief executive, tremely offensive. that Fidel Castro had died. Trudeau nological change is the answer WeOwn Moreover, there are grounds to be expressed “deep sorrow” at the omy with a balanced budget. But rather than a carbon tax – a mes- sceptical about Trudeu’s claims passing of a “larger than life leader while the UK has been working to- sage which may not resonate in the that he was unaware of how cultur- who served his people for almost wards fiscal responsibility, Canada heat of an election. Back to school ally insensitive his costume might half a century”, albeit in one who has been going in the other direc- Despite is a growing sense that appear, first because he blacked up was “a controversial figure”. tion, with $71bn added to the na- Trudeau doesn’t really believe his [Re: With Labour’s plans to scrap on more than one occasion, and sec- Controversial? Indeed so. Castro tional debt. And all the while, taxes sanctimonious proclamations – as private schools, should the state have a ond because this was happening in was a Communist dictator. During have gone up. evidenced by his erstwhile costume monopoly on providing education?] the twenty-first century. What the Cuban Missile Crisis in 1962, he One would think that Canadians choices – and that he is “not as ad- According to a leading Momentum activist, might have been excusable behav- wrote to Nikita Khrushchev de- therefore have clear ideological vertised”, he might be lucky. He has the nationalisation of private schools iour in the 1970s was already manding the first nuclear strike on choice. And indeed, the opposition put Canada’s economy on the wrong would lead to all British children being widely frowned upon by the turn- the United States, arguing “how- Conservative leader, Andrew Scheer path, but the harm has not yet given a “world-class education”. It is far ing of the millennium. ever hard and terrible the solution argues that “we need lower taxes, started to really bite, and his prom- from clear how this would work. It has The difficulty for Trudeau in might be, there is no other”. predictable regulations, sound pub- ise of tax cuts for the middle class been suggested that state schools suffer pleading for indulgence over his And during the Castro era, 40,000 lic finances, and smarter invest- may boost his economic message. from having talented children creamed off, choices at fancy dress parties as a Cubans perished trying to flee the ments in areas like basic research But it would still be damaging for but the idea that certain kids must be young man is that he has proved a regime in the treacherous waters of and infrastructure”. the Canadians to re-elect him. It forced into the state system for the benefit very prissy champion of political the Florida Straits. Scheer appears to back genuine would send a signal to the world of others is ethically questionable. It is also correctness when it comes to judg- Thankfully, we have not seen Cas- capitalism, rather than the distorted that Canada is shifting away from at odds with another claim made by ing others. The image he has built tro’s disastrous economic pro- crony version. He has said: “I will al- an open, bold, free enterprise ap- private school opponents: that private for himself has been that of a truly gramme copied in Canada. But the ways champion the free market, proach towards becoming a nation school pupils are not particularly gifted, “woke” and progressive social jus- country has been left behind by the where people get ahead by having of nannying fusspots. they are merely lucky enough to have tice warrior. forces of global progress. the best product, not the best lobby- wealthy parents. In reality, the spillover The Arabian Nights revelations When he took power, Trudeau in- ist. And where entrepreneurs strive £ Harry Phibbs is a journalist at effects of abolishing private schools would are not the first time that the halo herited a strong and growing econ- to please customers, not politicians. Conservative Home. be overwhelmingly negative. The state would suddenly have to pay around £4bn a year to educate an extra 615,000 children. It would have to buy or build hundreds of schools in which to educate them. It would be an expensive way of giving seven per If Corbyn really cares about ‘the many’, cent of school children a worse education. Chris Snowdon, author of The Spirit he should rethink his aversion to markets Level Delusion BEST OF COMMON complaint over spending bonanza, as well as the Kate people in highly-paid work (man- TWITTER the past three years is that plans to increase state control in agers, directors, professional occu- no one can talk about any- nearly every sector of the economy. Andrews pations) are much more likely to John Bercow says the atmosphere in Athing other than Brexit. But listening to Jeremy Corbyn, I work over 48 hours a week than parliament is “worse than any of I’ve But that wasn’t true at the mostly felt perplexed. His negative those in low-paid work (sales roles, known in my 22 years in the House”. Labour party conference this week. view of markets and enterprise was customer service occupations) – 35 This is Bercow’s responsibility. Like a Unlike the Liberal Democrats, overwhelmingly contradicting his per cent of all full-time employees bad chef complaining about the meal who barely gave way to any policy stated desire to put “wealth and for the former camp, compared to he’s just made. discussion beyond revoking Article power in the hands of the many”. seven per cent for the latter. Despite @BeccyRyan 50, both the Labour leader and The broad principle of free trade framing the policy as a way to shadow chancellor confronted all is almost universally agreed by These so-called “fat cats” pay for lighten the load for low-income Boris Johnson now has as many the major public policy areas – in- economists to increase prosperity the bulk of public services. Flirta- workers, the only thing it is likely Commons defeats as PM (7) in nine cluding healthcare, housing, educa- and raise living standards for all in- tion with maximum wages would to do is lighten is their pay slip. weeks, as Tony Blair and Gordon tion, trade, and the economy more volved. If you want to empower peo- not only damage Britain’s economy, Labour isn’t the only party to Brown had COMBINED in 13 years. broadly. And all of them came with ple – not “the few”, but potentially but also risk the services currently promise a utopia – they’re all guilty @ShehabKhan a huge platter of public spending millions at a time – creating choice provided by the state, which Corbyn to some degree of wild offers, with commitments. and flexibility on an open market wants to expand. little talk of the trade-offs or conse- At a valuation of $8.2 billion, Peloton is From abolishing tuition fees to of- is the sure-fire way to succeed. And perhaps the biggest policy quences of so much spending. But bigger than Planet Fitness, Weight fering free childcare, the giveaways Corbyn also seemed to contradict proposal announced by the shadow to reject the role the market plays in Watchers, Herbalife, and the simple kept coming, with no acknowledge- himself by calling for high earners chancellor – to take the UK from a improving lives is to overlook the act of buying a $97 bike on Craigslist ment of the cost of such proposals, to pay more tax, while simultane- five-day work week down to four – economic lessons history has taught and riding it around your front yard for which will burden younger genera- ously attacking big pay packages. overlooked the lowest-paid workers, us over and over again. Utopia will a workout tions who inevitably have to pay off Perhaps he is unaware that the pro- who would be made most finan- never be reached, but to come close, @scheplick today’s bills down the road. portion of income tax paid by the cially unstable from such a policy, you’ll need market mechanisms Of course, as a self-proclaimed fan top five per cent of earners is esti- and likely to need additional em- and good common sense. As part of the next QE, the Fed will buy of free enterprise and markets, I was mated to be over 50 per cent this ployment to top up their wages. $4,000 Peloton bikes deeply uncomfortable (though not year, up from just under 40 per As IEA fellow Len Shackleton high- £ Kate Andrews is associate director at @Hipster_Trader terribly surprised) to hear of this cent 20 years ago. lights in his book Working to Rule, the Institute of Economic Affairs. CITYAM.COM FRIDAY 27 SEPTEMBER 2019 OPINION 19

WE WANT TO HEAR YOUR VIEWS › E: [email protected] COMMENT AT: cityam.com/forum :@cityam The Fixed-term Parliaments Act DEBATE is to blame for this utter chaos Did Jacques Chirac leave France in a better state than he found it HE BBC podcast series The Rachel Cunliffe mentary maths. Political Butterfly Effect ex- Post-2011 Britain is not the only when he became President? plores the theory that even Comment and features country to have fixed terms, but most Tthe tiniest of events can have editor at City AM parliamentary democracies do not – vast and unintended conse- and for precisely the reason that we Jacques Chirac’s legacy is hard to quences. If you’re curious how a bar now see. Because if a Prime Minister define – he was certainly not a great fight may have caused Brexit, or what loses control of the Commons – as President, and the old fox, as he was the meat extract product Bovril has to ability to call a snap election as soon Boris, who now has a working major- often known, never really shook off a YES (justified) reputation for sharp practice do with keeping Britain out of the as it was favourable for his party, Nick ity of minus 43, evidently has – there ALASTAIR BENN euro, it’s worth a listen. Clegg could have some assurance that needs to be a way to reboot the system. – his opponent in the 1995 presidential There are many directions in which the partnership would be genuine, This is what the Prime Minister has campaign, Edouard Balladur, said of to point the finger of blame for the while the Tories were reassured that tried to do, but without a majority to him: “Jacques is like le beaujolais, they off the Front National’s Jean-Marie Le tragedy of errors currently underway the Lib Dems wouldn’t cut and run vote it through, the FTPA prevents send us a new one every year”. Pen in emphatic style in 2002. in Westminster, depending on how when the going got tough. him from calling an election. His only However, on the defining issues of his France is not an easy country to far back you go: Dominic Cummings’ Alas, in attempting to solve one route to give the electorate a say now time, Chirac governed in a way that was govern, and the fact that Chirac gamble to prorogue parliament, problem, Cameron and Clegg created is to hold a vote of no confidence in consistent with an authentically Gaullist achieved a second term (something Theresa May’s stubbornness in trying a different one – as Boris Johnson, himself, which risks a messy interim vision of “la France”. which has escaped his successors so to force through a widely unpopular who has had his demands for a Gen- period during which an opposition He rightly refused to take part in the far) shows that he ruled in a manner in deal, opposition MPs refusing to look eral Election refused twice by MPs, has figure could take control. Iraq War in 2003; he offered an official line with its history as one of the great for a workable Brexit compromise, found out. Nor is Boris the only victim Meanwhile, anti-Boris MPs have apology for the role played by the Vichy nations of Europe. the folly of the 2017 General Election, – the FTPA has inadvertently shattered managed to form their own majority, regime in collaborating with the Nazi or even David Cameron’s decision to the fundamental principle behind the passing laws to try to force the govern- occupation and its active persecution of £ Alastair Benn is news editor of call the referendum in the first place. British democratic system. ment into doing their bidding. There France’s Jewish population; and he saw Reaction. But I would look back further in As a parliamentary democracy, UK is even now talk of keeping the shack- search of a culprit, to the disastrous Prime Ministers derive their power led PM in office until the spring. move to pass the Fixed-term Parlia- from being able to control parliament. This is not to admonish opposition ments Act (FTPA) in 2011. The Prime Minister governs because MPs for denying an election they Jacques Chirac’s legacy can be Given the present political psy- they control the party with the most know will work against them. They summarised by the famous 2002 chodrama, it is hard to remember MPs, which in turn controls the House are acting rationally – both sides have election slogan when he ran against that the aftermath of the 2010 elec- of Commons. If they cannot, the logic been playing dirty and hunting for Jean-Marie Le Pen: “Vote for the crook, NO tion was considered a time of instabil- of the system dictates that they step procedural tricks to win this game. not the fascist”. NICHOLAS MAZZEI ity and chaos. Hung parliaments are aside for someone who can, or hold an And while many have blamed this im- He did little to address societal issues rare in Britain (at the time, there had election to try to change the parlia- passe on the divisive nature of Brexit, in France on national identity and been only one since 1929), and with the roots of the crisis go deeper. racism, personally admitting that he up for the reputational damage he had the economy still reeling from the fi- The coalition government removed was partially responsible for failing to done. nancial crisis, there was concern that The coalition from the political system its main prevent Le Pen reaching the final round Finally, his decision to become the inability of any single party to mechanism for fixing itself. Like an of the election. These issues continue to personally close to Vladimir Putin in control the House of Commons would removed from infected wound which cannot heal haunt French society to this day. opposition to the invasion of Iraq be a recipe for volatility and stalemate the political system until it is cleansed, the bitter divisions Chirac also damaged the reputation enabled the despotic rule of Russia. His when clear leadership was required. in parliament cannot be repaired of the political class in France by hiding decision to stick it to the Anglo-Saxons The FTPA, which emerged out of the its main mechanism with the present Commons dynamics. behind political immunity from resulted in damaging repercussions for coalition negotiations between the for fixing itself The FTPA did not cause the Brexit prosecution for corruption dating back the future of Europe. Conservatives and Liberal Democrats, crisis, but through the political but- to his time as mayor of Paris. It wouldn’t was intended to alleviate some of this terfly effect, it has made it almost im- be until 2011 that he was found guilty of £ Nicholas Mazzei is a former MEP uncertainty. By removing Cameron’s possible to resolve it. corruption charges – too late to make candidate and commentator.

Editorial Editor Christian May | Deputy Editor Andy Silvester Distribution helpline Our terms and conditions for external Josh Martin Rachel Cunliffe contributors can be viewed at Fountain House, News Editor | Comment & Features Editor If you have any comments about Lifestyle Editor Steve Dinneen | Sports Editor Frank Dalleres the distribution of City A.M. cityam.com/terms-conditions 3rd Floor, 130 Fenchurch Street, Billy Breton London, EC3M 5DJ Certified Distribution Creative Director please ring 0203 201 8955, or email [email protected] Tel: 020 3201 8900 from 29/07/2019 till Printed by West Ferry Printers Ltd, Email: [email protected] 25/08/2019 is 76,030 Commercial Sales Director Jeremy Slattery | Head of Distribution Gianni Cavalli Kimpton Rd, Luton LU2 0SX

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leyton.com/ces #LeytonCES2020 20 HOT PROPERTY FRIDAY 27 SEPTEMBER 2019 CITYAM.COM HOTPROPERTY ALL YOU NEED TO KNOW ABOUT THE LONDON PROPERTY MARKET Edited by Helen Crane

NEW BUILDS NEW DEVELOPMENTS ON THE MARKET THIS WEEK RIDGEWAY VIEWS, MILL HILL

Buyers looking for a leafy, suburban location on a budget will want to check out L&Q’s Ridgeway Views, launching this Saturday. The shared ownership homes are located in Mill Hill, close to the 35-acre Mill Hill Park, Arrandene Open Space and Featherstone Hill. The first phase of the 131-home development comprises one, two and three-bedroom apartments, starting at £93,125 for a 25 per cent share of a one-bed. £ Visit millhillsharedownership.co.uk

BELVEDERE GARDENS, SOUTH BANK WESTERN CIRCUS, ACTON THREE WATERS, BOW THE QUARRY, ERITH

From £2.25m for a two-bed From £449,000 for a one-bed From £340,000 for a studio From £225,000 for a studio

The final 19 apartments have just been released at Western Circus is one of the first opportunities to buy a This weekend, Mount Anvil and Peabody will launch The Anderson Group and L&Q will launch The Quarry, Belvedere Gardens, Braeburn Estates’ luxury home off-plan in the £26bn regeneration scheme at the final 47 homes at Three Waters in Bow. Known as a collection of studio, one, two, three and four-bed development on the site where the Festival of Britain Old Oak and Park Royal, which is set to become a The River Collection, the studio and one-bed homes in Erith in the London Borough of Bexley, this was held in 1951. The two and three-bed homes major transport interchange when Crossrail arrives in apartments are located at the confluence of three Saturday. Built on the site of a former working quarry, feature floor-to-ceiling windows, and many have views 2021. Developed by Barratt London, Western Circus waterways: Bow Creek, the River Lea and Limehouse it is being marketed as an ‘ecologically conscious over the London Eye and Houses of Parliament. The will comprise 364 one, two and three-bed homes – Cut. The building has a distinctive red brick façade, development’ where efforts have been made to retain interiors have been designed by Goddard Littlefair and many of which are eligible for Help to Buy – as well as a peaked roofs and projecting balconies, which are and enhance the ecological value of the land, include full-size baths, walk-in wardrobes and bespoke supermarket and community café. There are a total of designed for residents to sit and enjoy the water views. including by installing bird boxes and insect houses chandeliers. Residents will also benefit from access to six apartment blocks at Western Circus, which is due It also has a roof garden, concierge service and and planting trees. All of the apartments are eligible a swimming pool, sauna and gym. for completion from summer 2021. screening room. for Help to Buy and have outdoor space and parking. £Call 0207 001 3600 or visit southbank-place.com £Call 033 3355 8497 or visit barrattlondon.com £Call 020 7776 5755 or visit mountanvil.com £Call 0333 0033 737 or visit lqhomes.com/thequarry

INTERIORS PROPERTY OF THE WEEK NEW DEVELOPMENTS The new brand An explosion of A look inside putting ‘waste Cuban colour Mayfair’s ‘most marble’ to use in Notting Hill luxurious’ let P24 P26 P28

22 HOT PROPERTY FRIDAY 27 SEPTEMBER 2019 CITYAM.COM FOCUS ON PRIVATE VIEW ‘SENSIBLE’ PRICES ON THE MARKET IN KEEP WAPPING AFLOAT E1W THIS WEEK

First-time buyers get City links for less in E1W WAPPING HIGH STREET £650,000

FOCUS ON This two-bed riverfront apartment in central Wapping has a private balcony, allocated WAPPING parking and use of a day porter. Call Waterview Wapping on 020 7650 5359

ocated on the north bank of the Thames just to the east of Tower Bridge, Wapping is one of the few remaining post- codes where you can snap up aL flat within walking distance of the City without a completely eye-water- ing price tag. Formerly the domain of dock work- ers, large swathes of the area have been regenerated since the 1980s – al- though it has avoided the hipster in- flux seen in nearby Whitechapel and SCANDRETT STREET Spitalfields and is considered some- thing of a hidden gem by agents. £3M Buyers are beginning to cotton on, though. “The location right between A two-bed Georgian house in the heart of the City and Canary Wharf, and the Wapping with four floors, a roof terrace and fantastic transport links offered by plenty of entertaining space. the Overground have helped fuel Call Dexters on 020 7650 5350 Wapping’s popularity, but its realistic, The area surrounding the St Katherine Docks marina is home to some of Wapping’s most sought-after properties sensible pricing has been most impor- tant,” says James Hyman, head of resi- houses, to a number of modern visu- headquarters where print workers dello and seafood eatery Smiths. dential at Cluttons. ally striking buildings.” sacked by Rupert Murdoch for refus- Clacy says the price reduction Like much of London right now, While a four-bed family home will ing to move there from Fleet Street might have happened because those Wapping is a buyer’s market. Hyman set you back between £1.2m and £3m, protested for weeks in the 1980s. looking for a riverside second home says there has been a “flurry” of sales you can pick up a one-bed flat for a Apartments in the Cashmere Wharf are waiting to see which way the dial because prices are coming down and punchy £400,000, and O’Neil says and Merino Wharf buildings are cur- turns on Brexit. purchasers smell a bargain. that “activity is strong” in the sub- rently available, starting at £1.28m. “Aside from those whose jobs are “Many sellers are now prepared to £700,000 market. Combined with Prices in Wapping’s prime post- nearby, buyers in this part of town price their properties sensibly, 15-20 Wapping’s city connections this codes fell by 5.8 per cent in the year can often be looking for lifestyle rea- per cent off the highs of early 2015, makes it a haven for first-time buyers. to the end of June, compared to 1.8 sons, so general market uncertainty and are thus getting offers and selling Frances Clacy, research analyst at Sav- per cent in the capital’s prime post- may mean that they are deciding to in a reasonable timeframe,” he says. ills, adds that around 20 per cent of codes as a whole, according to Savills. put their decisions on hold,” she says. The average house price in the E1W, buyers that come through Savills’ This might seem strange consider- These kind of homes, she adds, com- BRIDEWELL PLACE E1W2 and EW13 postcodes that make doors in the area are under 30. ing that the area has seen some sig- mand a premium of about 16 per up Wapping is £636,236, according to At the prime end of the market, the nificant improvements, including cent on the local market when they £500,000 Knight Frank. The head of its Wapping most significant new development in the imminent arrival of Crossrail at do sell. office, Lee O’Neil, says the range of the area is St George’s 1,800-home nearby Whitechapel. Jason Taylor, di- Prime property aside, there are cer- This one-bed, 616 sq ft apartment sits on the properties on offer is diverse, from London Dock complex. It is being rector at Dexters in Wapping says tainly enough savvy first-timers in first floor of a picturesque development with “converted warehouses that face the built on the the site of News Interna- there are also “new and trendy this sensibly-priced enclave to keep cobbled pathways and communal grounds. river Thames and Georgian town- tional’s former ‘Fortress Wapping’ restaurants” such as the Italian Il Bor- things ticking over. Call Knight Frank on 020 7480 4483

AREA GUIDE Area highlights HOUSE PRICES Source: Zoopla DETACHED SEMI TERRACED FLATS If you like the idea of sitting by the river £813,453 £660,403 £757,759 £552,681 and watching the world go by, the TRANSPORT Source: TfL marinas at St Katherine Docks and Time to Canary Wharf 8 mins Hermitage Community Moorings are Time to Liverpool Street 13 mins good places to do it. Wapping is home Nearest trail station Wapping Overground to London’s oldest Thameside pub, the Skylight bar Prospect of Whitby, while converted BEST ROADS Source: Zoopla warehouse The Dickens Inn also has Wapping Woods Most expensive Wilkes Street £2.6m plenty of historical charm, complete Highest turnover Piazza Walk 86.6% with wooden beams and creaking ASKING RENT floorboards. It also has its own pizzeria £2,823 pcm for a two-bed flat on the first floor. Italian food Dickens Inn Il Bordello afficionados are more than catered for St Katherine Docks in Wapping, with local favourite Il Gastronomica Bordello often seeing queues out the Wapping door and gourmet food market and deli Gastronomica serving up tasty treats using ingredients from the owners’ stall Wapping at Borough Market. Follow it up with a drink at Skylight Bar, Tobacco Dock’s Hermitage rooftop playground which offers ice Community skating and fondue in the winter but Moorings switches to croquet and cocktails when the weather perks up. To jog it all off, head to one of the area’s green spaces such as Wapping Woods or Wapping Rose Garden. Available now: contemporary two bedroom apartments with underground parking space from £755,000 overlooking the Thames. With Thames Clippers attached, our riverside oasis is well-connected by boat, car and train.

Enquire now at:

RIVERSIDEQUARTER.COM 020 8877 2000 24 HOT PROPERTY FRIDAY 27 SEPTEMBER 2019 CITYAM.COM PARTNER CONTENT INTERIORS A good property manager is crucial. THE DESIGNERS Here’s what to look SAVING LONDON’S for when hiring one LOST MARBLE Richard Benson Managing Director, Block and Portfolio Management at Kinleigh, Folkard & Hayward

hether you are a property investor, a house builder, resident management company, right to manage company or a residents’ association, property manage- ment has never been more important. WAs more and more people choose to rent or buy lease- hold, their expectations of the service they receive are getting higher – and rightly so. There are plenty of new technologies around to help with this, but someone needs to know how to use them. And day-to-day consid- erations such as health and safety are also at the front of people’s minds. A good property manager will deal with all of this and more, taking much of the stress out of running an apartment building. But what should you look out for when it comes to choosing yours? A GOOD TRACK RECORD Kinleigh Folkard & Hayward (KFH) was founded as a property management specialist in 1977, and today it manages 16,000 flats, or around 130 blocks within London. This covers buildings from three storeys to 42, and from properties where the only common area is a staircase to complexes with swimming pools, cinemas and residents’ lounges. We haven’t acquired any other companies – a rarity in the highly competitive property management industry – so that growth has come solely from client recommendations. For example, we started managing our first building on Wapping High Street ten years ago, and now we have the largest market share in that area as well as managing a one-mile stretch on the South Bank opposite. Most of that is down to property owners telling their neighbours consumers are once again beginning to un- about us. GoodWaste is using derstand that living unsustainably is, well, unsustainable. But are they really ready to CUTTING-EDGE TECHNOLOGY scavenged marble to change their buying habits? Block management technology has really come on in The accepted wisdom is that those with the last few years, and is helping our staff to do their create unique, money can afford better choices. “There’s jobs more efficiently. We use an app to track steel and Corian in the GoodWaste collec- property inspections, which is bespoke to each sustainable pieces, tion,” Alston says, “but we focussed on marble building so it knows all the areas that must be because it’s a material that is perceived to checked. Property managers can record information writes Laura Ivill have a high value. It’s ‘waste’, but it can be and add photographs, and a tailor-made report is presented as a luxury item.” produced for the client. Residents can pay service ometimes success comes knocking at The limited-edition collection was hand- charges, view tenancy documents and receive a young person’s door, and they are so made by the trio during “a lot of very late communications from us online and direct to their prepared that they already have their nights”after their degree show this July, in- email, for example if we need to let them know when coat and shoes on. This is the story of cluding marble furniture (a bench, side table their windows are being cleaned. Technology is also how three dynamic Royal College of and shelving unit) and smaller objects that helping to streamline processes in important areas SArt MA product design students had a bloody they could handmake in larger numbers – 36 such as health and safety. Whereas property owners good idea for their degree show – and a few marble and glass mirrors (£120) and 15 mar- would traditionally receive separate reports for a fire weeks after graduating were selling their first ble and Corian clocks (£220). Alston says that risk assessment, an electrical assessment and so forth, collection in Selfridges. they also wanted to embrace the zero-waste today that is all consolidated online so everything is GoodWaste is a sustainable collective ethic themselves, so when making the trackable. The property managers are also reminded in founded by Ambra Dentella, Ewan Alston and furniture, they used the scraps to advance when reports are due. Records of meetings are Rafael Muldal el Baz, who met on the RCA MA make a terrazzo top for a side kept online, and both KFH and the property owners in Design Products. Their first collection of From top: marble and Corian table (£750). receive alerts when a new document is added, with a limited-edition homewares uses London scrap clock and shelving; marble To go from a college 24/7 availability on all management matters. material (marble, Corian and steel) to sell in furniture; terrazzo side table studio to selling your a London store, to be bought by Londoners. brand in one of Lon- A PERSONAL APPROACH OK, not exclusively bought by Londoners, as being built there. We started don’s most illustrious The property management industry is fast-moving. the collection is also sold on selfridges.com, going with trolleys every week, car- stores in a matter of weeks That is why at KFH we pride ourselves on having but you heard it here first, and you’ll need to rying away as much as we could to must have taken guts, hard work property managers who really get to know our be quick to snap up these one-off pieces. take back to our studio at the RCA.” and nerves of steel. portfolio and forge long-standing relationships with The trio got together with the aim of explor- Selfridges’ Bright New Things “It’s been quite surreal,” Alston our clients. Many of our clients are looking for a ing the opportunities for “super-local, super- scheme, which champions upcoming says. “But this was our chance to medium-sized, privately-owned management circular manufacturing and distribution”, sustainable designers and innovators, see how real customers might re- company, with longevity, so that they get this kind of Alston, 27, says. They went scavenging in Park has, up until now, worked only with spond to products made from personalised approach. All of our agents are either Royal in West London, the capital’s “biggest fashion. For AW19, the store also waste, as each one is inherently IRPM or RICS accredited, and many have degrees in industrial site” where countless glass, plastic wanted to include homewares and different from the next. You have estate management. This quality is also reflected in and metal items are manufactured along beauty, and GoodWaste hit their radar. to adapt the design slightly for our back-office team which is why we invite with stone and Corian kitchen worktops and In November 2018, Selfridges sur- every single piece, which is un- prospective clients to come and see what goes on marble fireplaces. veyed 1,100 of its customers and found usual in retail, and unusual for behind the scenes too. “We quickly realised that there was this in- that 72 per cent wanted more informa- mass production.” credible amount of waste leaving the area tion on sustainability from brands, and If you would like to discuss how we every week,” Alston remembers. “It was the of- 86 per cent thought it was important could work with you, please email fcuts that we were interested in. For our MA for retailers to show a genuine commit- £GoodWaste limited-edition me on [email protected] we proposed to collect waste from Park Royal ment to sustainability. furniture and homewares are in Selfridges, to make furniture for all the new homes After the race to the bottom line post-crash, Oxford Street, and at selfridges.com

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*Time and distances approximate. Prices correct at time of going to press. Images representative only. 26 HOT PROPERTY FRIDAY 27 SEPTEMBER 2019 CITYAM.COM CUBANPROPERTY OF THE WEEK PAD FOR THE WELL-HEELED

Behind this Notting Hill door lies a colourful ode to Caribbean culture, writes Helen Crane

s the nights draw in, what better way to liven up those long, dark evenings than coming home to a place that KENSINGTON PARK ROAD, £2.48M is bursting with colour and warmth?A That is exactly what you will get if a bright coral jut out from the wall. you move into this maisonette at 212 The upper floor has a rainforest Kensington Park Road in Notting Hill, theme. The bathroom is tiled in deep, which has just come on the market. emerald green with pink accents, and The couple who currently live there the ensuite has a feature wall adorned recruited local interiors specialists with exotic fruits and toucans. The Barlow & Barlow to create a vibrant crowning glory, though, is the roof yet tasteful design which reflects terrace, complete with outdoor their Cuban heritage. shower. A colourful vintage petrol Unlike the scores of W11 sign carries on the Cuban theme. residents who board up The property is being marketed by their homes when Not- Located just off Porto- room and ensuite, an open-plan liv- Russell Simpson with an asking price ting Hill Carnival rolls bello Road, the green ing, kitchen and dining area and a of £2.48m. Hattie Russell, sales nego- around every August, door hints at the ex- roof terrace. tiator, says: “It’s a rarity to find a the owners have em- plosion of colour The living area is a masterpiece in home with such distinctive flair, char- braced the area’s associ- within. Although it is pattern. Pink and green clash on the acter and colour. This is a fantastic ation with Caribbean located above a shop walls, windows and floor, but with opportunity for a professional couple culture and used this as a the home is surprisingly enough white space to make it a taste- looking for a statement home reference point in their de- roomy, packing in three ful statement. In the hallway, indus- From left: the front door; roof terrace; in one of London’s most exclusive sign, too. bedrooms, a family bath- trial-style, free-standing steps painted living area and master bathroom postcodes.”

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factories to a high specification, and One of Apex constructed on the rooftops in a mat- Airspace’s rooftop ter of days. Hailed as an innovative so- The sky’s not developments lution to housebuilding, which crucially doesn’t encroach on green belt land, Apex Airspace has already had considerable backing from the likes of Homes England and the the limit for Mayor of London. Rooftops aren’t just providing much-needed affordable homes, though. Airspace developments can only be successful if they fit in with the rest of the building and the area, new homes and that is why it’s vital to ensure the

Arshad Bhatti Khan’s latest London Plan – and this drives up prices for the homes that do Chief executive become available. Research suggests at developer The lack of housebuilding is a result London has room Apex Airspace of a number of deficiencies in our sys- tem: scarcity of land, under-resourced for 180,000 council planning departments and a shortage of skilled workers to name airspace homes but a few. We need to raise our ambi- tions if we’re going to change the sta- existing building reflects the changes t’s no secret that we have a hous- tus quo, and that means exploring above. This could be by enhancing the ing problem in the UK. Home own- the possibilities offered by airspace communal areas and by improving ership levels are at their lowest, development. amenities like lifts and cycle storage, Ileaving many stuck in the rental A couple of years ago, if you heard which benefits all residents, as well as trap or in homes no longer fit for the term airspace, you’d think of bringing the building up to modern purpose. drones, airplane hangars or space health and safety design standards. Genuinely affordable homes are the travel: not housebuilding. Today, it is It might seem futuristic, but lots of stuff of myth, especially in cities like used to describe a development tech- new airspace developments are al- London where the average home now nique whereby unused space on ready sprouting. At Apex alone we’re costs more than £470,000 according rooftops of existing buildings is con- in discussions on some 2,200 homes to government estimates. verted into new homes. across the public and private sectors, Look across the London skyline and and our research has found that Lon- you’ll see dozens of cranes. Yet at cur- INNOVATIVE SOLUTION don eventually has the capacity for rent housebuilding levels, we’re Using the latest construction tech- 180,000 airspace homes. falling far short of the 65,000 new niques, airspace homes can be manu- Things could be looking up for the homes a year target outlined in Sadiq factured almost entirely off-site in housing market – quite literally.

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Ŗub1;-m77;|-bѴv1ouu;1|-|ঞl;o=rubm|ĺbmbl†l7;rovb|o=ƐƏѷŐŬƑƒķƑƔƏőĺ$şĽv-rrѴ‹Ŋl†v|;Š1_-m];0;=ou; ƒƐv|";r|;l0;u‰b|_bmƑѶ7-‹v=uolbvv†;o=;lou-m7†lo="-Ѵ;|ou;1;bˆ;bm1;mঞˆ;ĺolr†|;u];m;u-|;7bl-];ĺ 28 HOT PROPERTY FRIDAY 27 SEPTEMBER 2019 CITYAM.COM InsideNEW DEVELOPMENTS Mayfair’s ‘most luxe’ rental Opulent, marble- laden flat with seven balconies can be yours for £30,000 a month

new-build apartment which has been dubbed Mayfair’s ‘most luxurious’ has just hit Athe market, and is available to rent for anyone who hap- pens to have a spare £30,000 a month. The 1,593 sq ft Apartment 3.05 sits within Clarges Mayfair, a grand Port- land Stone block overlooking Green Park which is collec- tively valued at £160m. Built to tempt the inter- national super-rich, From left: the Clarges Mayfair exterior; the Apartment 3.05 Clarges is said to living area; the atrium with Yasemen Hussein light sculpture house more million- aires and celebrities The interiors ceilings, bespoke joinery, full-height matched marble bath and walk-in saunas and steam rooms. Clarges even than any other Lon- were created by doors and windows. shower, and visitors get their share of got the first new Mayfair postcode in don new-build – al- Martin Kemp De- The living area is designed around a marble too, with marble wall finishes 20 years for its private access road. though the identity sign which has kit- large, built-in plasma screen sur- in the guest shower room. Apartment 3.05 is being marketed of the latter remains ted out ultra-prime rounded by bespoke shelving and a Clarges comprises 34 apartments in by Wetherell for £7,500 per week. under wraps. The homes, private jets crescent-shaped couch and coffee total, as well as the sort of amenities “Why rent a large suite at The Lanes- apartment is the first and super-yachts for table. This leads on to a dining area you would find in a five-star hotel. A borough or The Berkeley when you in Clarges to be offered the likes of Tom Ford which seats eight. The bespoke Boffi 60ft atrium runs the height of the can let this apartment at Clarges May- for rent on the open mar- and Roman Abramovich. kitchen includes dark timber veneer building, crowned by a domed light- fair and have the luxury of your own ket and has its own entrance The colour palette is emer- cabinets, book-matched marble work- ing sculpture by Yasemen Hussein. private home, and all the benefits of hall, reception room, two bedroom ald, charcoal, brass and cream, in- tops and stone slab flooring. The mar- There is also a resident’s lounge, 25- a luxury hotel?” asks chief executive suites and designer kitchen, as well as spired by the colours of Green Park, ble theme continues into the master metre swimming pool, hydrotherapy Peter Wetherell. It’s certainly a nice seven Juliet balconies. and design features include coffered bedroom suite, which has a book- spa, gym, private treatment rooms, decision to have to make.

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Prices and details correct at time of print. *Based on a 35% share of the full value (full value of 1-bedroom apartment starting from £345,000, 2-bedroom apartment from £450,000 and 3-bedroom apartment from £527,500). **Based on a 5% deposit of £120,750. ^T&C’s apply - 5% towards your deposit based on the minimum 35% share value on selected plots. Offer subject to availability and review. This offer cannot be used in conjunction with any other offer. Southern Home Ownership reserve the right to withdraw this offer at any time. In accordance with Consumer Protection from Unfair Trading Regulations 2008, these details and images have been prepared with due care, however the information contained therein is intended as a preliminary guide only. Southern Home Ownership Ltd is a housing association. Industrial & Provident Societies no: 1852R Registered Offi ce: Fleet House 59-61 Clerkenwell Road London EC1M 5LA. CITYAM.COM FRIDAY 27 SEPTEMBER 2019 FEATURE 29 OFFICE POLITICS Rugby World Cup: Lessons for business

down to the individual talents of the Leaders can learn a lot from Eddie Jones players on the pitch. As Jones proved in the previous and the England squad competing in Japan Rugby World Cup when his Japan side upset the odds to record a historic win FTER being dumped out of James against South Africa, leadership and the 2015 Rugby World Cup team management can also play a early, England will be hoping Reed crucial role. to improve on their perform- KEEP AN EYE Furthermore, the score at the end of ance this time round in ON THE BALL a match isn’t the result of 80 minutes Japan.A So far, the team has beaten of hard work on the pitch alone, but both Tonga and the USA. Rugby World the sum of months of planning. It’s been a long wait for redemption Cup 2019 Preparation is important to business – four years in the making – and, as Free performance too. well as their ability to play rugby, suc- The best managers will identify the cess will depend upon the team’s grit international tournament – this Swing low, challenges and opportunities ahead and determination, and the quality of year’s Six Nations Championship – Sweet chariot, by addressing them in the context of their leader. the England squad needed fresh faces. Coming for to past successes and failures, as well as The same is often said about busi- As all good employers and recruiters carry me home the strengths and weaknesses of the ness – and it’s true. Though perhaps know, you need to keep your people business and its competitors. not quite as bruising on a day-to-day motivated and engaged. Bringing in England is off to To achieve this, a deep level of un- basis, there are lessons for business to new talent helps keep existing team a flying start at derstanding is needed, which comes learn from the Rugby World Cup. members focused on the job at hand, World Cup. Use from both personal and professional and offers new ideas to the team. The score at the Instead, Jones opted for a well- this app to keep experience. With this, managers can RECRUITMENT end of a match rounded group of players. Rather on top of the inspire and lead others by gaining Choosing your final list of 31 players DIVERSE TEAM STRUCTURE isn’t the result than square pegs in round holes, the latest news and their respect, and recognising and re- for the tournament is no mean feat. It’s not just a case of getting new re- of 80 minutes of squad offers plenty of options to scores coming warding genuine hard work and Someone’s always going to be disap- cruits, though. Hiring the right kind of hard work on choose from in each position: from out of the good performance. pointed, and fans and pundits will be people with different, complementary the pitch alone, the brute force of the forwards, to the tournament in Jones has the experience as a player on the lookout for controversy. skill sets is crucial to creating a team but of months guile of the backs. Japan. Plus it and coach at a high level to do this, But head coach Eddie Jones isn’t that is adaptable, resilient, and collab- of planning Leaders who hire diverse talent from has video and business leaders should strive for afraid to make the big decisions. Few orative in business and rugby alike. different professional backgrounds highlights from similar credentials. would have predicted that inexperi- Take Danny Cipriani, for example, will also have a team that can play to all the key Let’s hope that he can lead his team enced players such as Ruaridh Mc- who was omitted from the team de- its strengths wherever they’re needed. matches. Come to upset the odds again, and help Eng- Connochie would take the place of spite being voted the Premiership’s on, England. land bring home the Webb Ellis trophy. more familiar faces like Dylan Hart- player of the season. His temperament LEADERSHIP ley. However, after another poor per- and off-field antics were deemed too Many would argue that other squads £ James Reed is chairman and chief formance at the most recent major much of a risk to the team’s morale. look better “on paper”, but it’s not all executive of recruitment firm REED. 30 LIFE&STYLE FRIDAY 27 SEPTEMBER 2019 CITYAM.COM GOING OUT EDITED BY STEVE DINNEEN @steve_dinneen MOVIES OUT NOW

DON’T LET GO Jack does what any self-respecting noir DIR. JACOB ESTES cop would and retreats into a bottle, at BY STEVE DINNEEN least until he receives a call from a sur- prisingly chipper-sounding Ashley. The elevator pitch for Don’t Let Go is He figures out the calls are coming brilliantly succinct: cop solves murder from two weeks in the past, giving through phone that somehow makes him a unique insight into the crime, calls through time. and potentially a way to prevent it Director and co-writer Jacob Estes from ever happening. clings doggedly to this high-concept What follows is a po-faced, ultra-vio- premise, refusing to give any knowing lent Groundhog Day, in which Jack winks to the audience. Instead he crafts guides Ashley through the Los Angeles a gritty police procedural charting an underworld using their inexplicable LAPD cop’s flirtations with madness in cellular connection. There’s a subtext the face of both unfathomable grief that Jack may be suffering from acute and the potential breakdown of the PTSD, but Estes is more interested in space/time continuum. making an episode of The Twilight David Oyelowo’s Jack is devastated Zone than he is a meditation on grief. when his beloved niece Ashley is found A disappointing final act – complete murdered, alongside her family, includ- with inevitable noir twist – only partly ing his ne’er-do-well brother Garret. spoil a well-acted sci-fi cop drama.

THE GOLDFINCH criminal underworld. HOTEL MUMBAI on the day of his retirement, and for possibly bleak that we assume they DIR. JOHN CROWLEY Crowley’s film has its moments, the DIR. ANTHONY MARAS the first act at least this film prom- must be drawn from accounts of the BY HELEN CRANE highlight being when a teenage Theo is BY STEVE HOGARTY ises to be an uncomfortable Lethal actual event. So too is a harrowing sent to live with his father in Las Vegas. Weaponisation of a chapter of his- scene in which a pair of reception- The Goldfinch is based on the 2013 They are among the only inhabitants of The debut film by Australian direc- tory not long past. ists are forced at gunpoint to call Pulitzer Prize-winning novel by Donna a vast, terracotta housing development tor Anthony Maras, Hotel Mumbai Dev Patel plays a recent father and each room in turn and report that Tartt, and if you haven’t already read it, in the middle of the desert. Scenes in recounts some of the darkest days in waiter who finds himself wrapped the hotel is now safe and for guests director John Crowley’s adaptation will which Decker and his new best friend, recent Indian history, portraying the up in the violence. Anupam Kher to return to the lobby. make you want to run out and buy a a Ukrainian goth called Boris, drink il- prolonged terror attack inflicted plays the real world head chef who It’s chilling viewing, but this copy. In fact, you might be better off licit beers by drained swimming pools upon the city by a group of Pakistani rescues scores of guests by hiding weighty seriousness feels at odds skipping the film altogether. and drop acid in an overgrown play Islamic fundamentalists in 2008. them in the hotel’s private lounge. with the opening melodrama, broad It begins during a terrorist attack on park are visual masterpieces, as well as The three day series of co-ordi- Jason Isaacs is an odd addition, play- strokes characters and general direc- the Metropolitan Museum of Art in being both funny and touching. nated attacks culminated in the bru- ing a slimy and slightly comic Russ- tion of the movie. A Hallmark mo- New York, in which 13-year-old Theo But overall it’s a desperately sad story, tal siege of the grand Taj Mahal ian businessman. Elsewhere are two ment in which Dev Patel’s character Decker’s mother is killed. Decker makes and the transition to cinema does it lit- hotel, where local and international newlyweds (Armie Hammer and solves racism by describing his tur- away with two objects: a signet ring tle favours. While the novel allows you guests were killed, taken hostage or Nazanin Boniadi), and their baby ban to an old white lady is especially handed to him by a dying antiques to luxuriate in the details of Decker’s trapped, while the nearest armed re- and nanny, whose attempts to rejoin incongruous. Strangely, had the ter- dealer, and a pocket-sized painting of life, here things feel rushed and a little sponse teams from New Delhi took one another forms much of the plot. rorists and their actions been the eponymous Goldfinch by Dutch pat, even at 149 minutes. You never re- hours to bring rescue. But when the violence goes down, slightly more cartoonish, Hotel artist Carel Fabritius. The boy tracks ally get a grasp on who the main char- The transposition from real world it’s portrayed with sobering realism Mumbai would feel less discomfort- down the dealer’s business partner acter is – you just hear about all the horror to big screen disaster movie and in short, sharp bursts. Such ing to watch. Instead, too much time using an engraving on the ring but the terrible things that happen to him. isn’t entirely smooth. Hotel Mumbai grim details as the terrorists going is spent on humanising and adding painting remains stuffed in a bag under Take those two and a half hours, and introduces its key players as though from door to door claiming to be dimensions to the villains, and not his bed; a secret obsession that ulti- spend them devouring a few chapters we’re watching an unsuspecting housekeeping in order to access and enough on lending depth or nuance mately leads him into the international of the book. John McClane show up to the office kill the hotel’s occupants are so im- to those who fought back. CITYAM.COM FRIDAY 27 SEPTEMBER 2019 LIFE&STYLE 31

ART

DAMIEN HIRST WHITE CUBE Damien Hirst is back, and he’s lost none of his fascination for butterflies. This exhibition at White Cube is a veritable insect genocide, with wings of all colours and shapes and patterns forming dizzying, kaleidoscopic canvases. RECOMMENDED curring again and again, having been Part natural history the site of what the artist calls a su- lesson, part Damien Hirst MARK LECKEY pernatural encounter he had as a greatest hits show, the teenager. TATE BRITAIN artist leads us on a In Under Under In, he recreates this captivating journey BY STEVE DINNEEN experience across five video screens, through the imagery and with seemingly abstract clips – and themes that have Tate Britain is home to Turners and multi-directional sound – coagulating captivated him since he Bacons and Lowrys and Ofilis. And, into a semi-coherent story about a boy was a young man. There’s for the time being, it’s home to a pre- being led, Alice In Wonderland-style, an overtly religious quality cise recreation of the underside of a into a strange other-world. It’s a neat to these works, a motorway flyover, where a bunch of riff on the classic fairytale trope, cer- glorifying of the natural young Scouse lads in intimidating tainly closer to my own childhood ex- world, at which we stare leisurewear hang out making a nui- periences than the Victorian and like lowly sinners gazing sance of themselves. European gothic imagery usually as- up at a cathedral’s distant This vast installation by maverick sociated with children’s fables. stained-glass windows. If video artist Mark Leckey brings to- Alongside his more conventional you’re hoping for fresh gether three of his mind-melting video pieces – not that there is any- insights from Hirst, you’re pieces under one concrete roof: new thing conventional about Leckey’s in the wrong place. This is multimedia work Under Under In, multi-layered images – he creates a a man still pondering The 1999’s Fiorucci Made Me Hardcore, sort of garbled digital timestamp, a Physical Impossibility of and 2015’s Dream English Kid 1964- dream version of the 1980 and 90s Death in the Mind of 1999 AD. that’s at once recognisable and utterly Someone Living – but boy The flyover – a section of the M53 alien. The result is both nostalgic and are the results that passes through The Wirral – is a unsettling: the past is indeed a for- spectacular. key element in Leckey’s oeuvre, re- eign country.

NEW THEATRE

HEARTBEAT OF HOME ditional steps of damsha Gaelach with PICCADILLY THEATRE its similarly tippy-tappy counterparts BY STEVE HOGARTY across the globe. There is flamenco, tap dance and The tagline “From the producers of salsa, leotards, skirts and sequins, all Riverdance” doesn’t have quite the blended together in a sporadic and same ring to it as the producers of sometimes messy show that’s one Riverdance probably think it does (a part Riverdance and two parts Strictly few dozen bad animated films “from Come Dancing. the studio that brought you Shrek 2” The best bits are brazen imitations have put paid to that kind of cynical of the long-running show that in- marketing-by-association) but here spired it, and while technically accom- we are. pished throughout, Heartbeat of Performing at the Piccadilly Theatre, Home can’t help but appear like a Heartbeat of Home is a distant relative downmarket rendition by the direct of the globe-conquering Irish dancing comparisons it invites. phenomenon. Michael Flatley is An attempt to recapture the global nowhere to be seen – not that he’s impact of Riverdance – a show that riverdanced in quite some time – but took the equivalent of Morris dancing the spirit on stage at this Broadway and elevated it to the global acclaim transfer is very much the same. of The Avengers – was never going to Two acts explore the experiences of be totally successful, but Heartbeat of migrant culture through the medium Home shows that Irish dancing needs of dance, dreamily mingling the tra- to step out of Flatley’s shadow.

rected by Yaël Farber (Les Blancs, Mies the Moon, who steals the show in what RECOMMENDED Julie, The Crucible), the tragedy is, yet initially seems a minor role, but which again, a cautionary tale for our times. binds the strands of the tragedy to- BLOOD WEDDING The transposition from rural Spain to gether. Those who saw the Young Vic’s YOUNG VIC rural Ireland flows superbly, with cer- genius 2016 adaptation of Lorca’s BY LAUREN CRISP tain Spanish references maintained to Yerma will recognise Teixeira, who is preserve Lorca’s spirit; even so, the vil- outstanding. The universality of renowned Spanish lage in which the fatal wedding events In a bold cultural intermingling, the playwright Federico García Lorca’s occur could be anywhere, at any time. Moon sings a spine-tingling variation work was plain to see on Wednesday We watch with a dawning sense of on flamenco into the Irish night, ac- night at the Young Vic. familiarity as the characters allow companied by the tension-inducing Written in 1932 just before the Span- their passions and obsessions with beat of castanets. ish Civil War, Blood Wedding (Bodas de the past, power and revenge to spiral Indeed, the immersive music (com- sangre) became a haunting prophecy into chaos, death and destruction, as posed by Isobel Waller-Bridge; yes, of the years of devastation and blood- Mother Nature watches on in a Phoebe’s sister – those genes!) accom- shed to come, in which Lorca himself placid sort of horror. panying the evening truly underpins would fall. Olwen Fouéré puts in an incredibly the play. Brutality, urgency and death Now, in a new adaptation written by powerful performance as the Groom’s pervade, but so too does the desire and Irish playwright Marina Carr and di- Mother, but it is Thalissa Teixeira, as need for transformation. 32 PUNTER FRIDAY 27 SEPTEMBER 2019 CITYAM.COM 1 EARTHLIGHT BILL ESDAILE’S 2 MONARCH OF EGYPT THE PUNTER MIDDLE PARK STAKES 1-2-3 3 SISKIN TRADERRACING TRADER

Siskin remains Bill Esdaile unbeaten but may previews struggle to get the tomorrow’s Middle better of Earthlight Park Stakes

HERE is something magical about this time of year. The days are gradually get- Tting shorter as summer gives way to autumn and soon the leaves will begin to fall. It is also the time of year when the cream of the two-year-old crop rises to the surface as big reputations are fi- nally put on the line. We are in for a real treat at Newmar- ket tomorrow as three of the most ex- citing juveniles around face off in a mouth-watering Juddmonte Middle Park Stakes (3.00pm), which is already being billed as the race of the season. It’s a Group One contest normally won by a top-class colt and the fact it has produced both of the last two July Cup winners is testament to that. There are three talented unbeaten colts in the six-furlong showdown and only one can emerge with that record intact. That colt in my opinion will be Andre Fabre’s EARTHLIGHT who has a perfect four-from-four record at home in France this season. The latest of those successes came in FRENCH RAIDER EARTHLIGHT CAN the Group One Prix Morny at Deauville back in August. He may have only won by a neck that day, but the race was arguably the hottest two-year-old race run any- where in Europe this season. DOMINATE RACE OF THE SEASON This son of Shamardal had three Royal Ascot winners (Raffle Prize, Ari- zona and A’Ali) in behind him that day and showed both class and guts to repel all of them on bad ground. JECEHHEMÊI
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D;MC7HA;J short as 9/4 with Coral, I am prepared Marginal preference is for the for- He seems versatile when it comes to to leave him out of the equation. mer who had a setback earlier in the conditions, although his ability to Going: GOOD 5 122 MONARCH OF EGYPT (50) (GY) His stablemate Threat finished run- summer but has since chased Siskin handle a rain-softened surface is a (7) A P O’Brien (IRE) 2 9-0 ...... R L Moore ner-up at both Royal Ascot and Glori- home in the Phoenix Stakes. JUDDMONTE MIDDLE Runs: 3 Wins: 1 Places: 2 £97,075 bonus considering the weather we 3.00 ITV4 ous Goodwood but has since won the There shouldn’t be much between have had this week already. PARK STAKES (GROUP 1) 6 11 MUMS TIPPLE (37) (D) (GF,G) Gimcrack and Champagne Stakes. them again this time and it can be ar- Fabre tends not to leave Newmarket (COLTS) (1) £155,952 6f (3) R Hannon 2 9-0 ...... O Murphy: He steps up in class here, but it gued that he is value at around 9/1 to Runs: 2 Wins: 2 Places: 0 £159,990 empty handed on his rare forays into would be dangerous to dismiss him as improve past Siskin. these shores and his horse should take 1 1111 EARTHLIGHT (41) (D) (GS,G,HY) 7 1111 SISKIN (50) (D) (G,GF,S) he has finally got the winning habit. Lope Y Fernandez bounced back to all the beating. (4) A Fabre (FR) 2 9-0 ...... M Barzalona (2) G Lyons (IRE) 2 9-0 ...... C T Keane That said, I prefer the chances of form in the Round Tower Stakes at the Runs: 4 Wins: 4 Places: 0 £292,470 The market suggests he has most to Runs: 4 Wins: 4 Places: 0 £0 Irish raider SISKIN, who is another un- Curragh last time and this six furlong fear from the Richard Hannon-trained 2 41513 GOLDEN HORDE (41) (D) (GF,G) 8 3165 SUMMER SANDS (36) (G) beaten in all four starts. trip looks ideal.

Mums Tipple who had everyone rub- (8) Clive Cox 2 9-0 ...... A Kirby (9) R Fahey 2 9-0 ...... B McHugh Like Earthlight, he was successful He needs to step up on that to trou- Runs: 4 Wins: 1 Places: 1 £34,031 bing their eyes and checking their Runs: 5 Wins: 2 Places: 1 £159,166 when stepped up to Group One com- ble the leading contenders here, 9 12211 THREAT (14) (C,D) (G,GF) watches when blitzing a competitive- 3 265055 KING NEPTUNE (16) (A) pany on his final start and also seems though. (6) R Hannon 2 9-0 ...... P Dobbs looking field in a valuable York Sales (1) A P O’Brien (IRE) 2 9-0 ...... W M Lordan versatile when it comes to ground. Golden Horde proved too good for Runs: 5 Wins: 3 Places: 2 £253,142 race by 11 lengths. Runs: 8 Wins: 1 Places: 2 £29,180 He looks sure to be bang in the mix Threat in the Richmond Stakes at He looked like a Group One per- 2018: Ten Sovereigns 2 9 0, D O’Brien 8/13F (A P O’Brien), 8 ran. and at least has a top flight success Goodwood but has a fair bit of ground 4 1231 LOPE Y FERNANDEZ (29)(D)(GY) :BETTING: 2 Earthlight, 3 Mums Tipple, 9-2 Siskin, former that day and there is every (5) A P O’Brien (IRE) 2 9-0 ...... D O’Brien under his belt. to make up on Earthlight on their Prix chance the son of Footstepsinthesand 9 Monarch Of Egypt, 12 Threat, 14 Lope Y Fernandez, Aidan O’Brien is looking to win the Morny running. Runs: 4 Wins: 2 Places: 1 £46,180 is the real deal. 22 Golden Horde, 100 King Neptune, Summer Sands race for a third year on the trot and Fabre’s colt was always holding him However, he is priced as if he is al- saddles MONARCH OF EGYPT and Lope that day and should come out on top ready proven at this level and at as Y Fernandez. again in an intriguing contest. CITYAM.COM FRIDAY 27 SEPTEMBER 2019 PUNTER 33

@BillEsdaile Bill Esdaile previews the rest of tomorrow’s Newmarket card Tropbeau can give Fabre yet more success Andre Fabre has a brilliant record at Newmarket and can win his first at Newmarket Cheveley Park Stakes tomorrow

URPRISINGLY, the one name has only ever encountered a softish much better form. Fifth Position all have some decent O’Keeffe, who won the Silver Cam- missing from the training roll surface. However, he is as short as 7/4 in form, while John Gosden and Frankie bridgeshire at this meeting last year of honour for the Juddmonte Raffle Prize will be a tough filly to places and I’d rather take him on with Dettori team up with Lord North who when trained by Mick Channon. SCheveley Park Stakes (2.25pm) beat on the back of a narrow defeat by HIGHLAND CHIEF who hasn’t been is having only his fifth career start. He was also a close second over is Andre Fabre. Earthlight in the Group One Prix seen since finishing third behind Of course three-year-olds can win it, course and distance in April and then There aren’t many big races missing Morny last time. Pinatubo in the Chesham Stakes at Wissahickon did so 12 months ago, won a 1m2f handicap at Sandown in from his CV, but this six furlong That run followed wins in both the Royal Ascot. but Mukhadram was beaten in it in July, beating Beringer by a short-head. Group One prize for two-year-olds has Queen Mary at Ascot and the Duchess He looked to be crying out for this 2012 and went on to win a Coral- There shouldn’t be too much be- so far eluded the legendary trainer. Of Cambridge Stakes at Newmarket’s step up in trip that day and I’d rather Eclipse. tween them tomorrow and the North- However, that could be about to July meeting. chance my arm with him at 9/2 with I’m going to side with the older ern raider is also worth backing change tomorrow as his TROPBEAU She brings the best form to the Ladbrokes. horses and the first is Alan King’s each-way at 16/1 with Coral. looks exceptional value at 9/2 with table, but Mark Johnston’s filly has Trainer Paul Cole has won this prize BERINGER who has run well on a @BillEsdaile Coral to upset red hot favourite Raffle had a busy campaign and may just be a couple of times in the past with sim- number of occasions this season, in- Prize. vulnerable to a fresh improving filly. ilar types and this is likely to have cluding when winning at this course She has won her last three starts in Kameko heads the betting for the been the target for some time. in April. POINTERS TOMORROW France and showed a real smart turn Juddmonte Royal Lodge Stakes The big betting race of the day is the That was over a mile, but I think a of foot to win a Group Two at (1.50pm) on the back of a close second bet365 Cambridgeshire Handicap fast run nine furlongs is exactly what Highland Chief 1.50pm Newmarket Deauville last time. to Positive at Sandown last time. (3.40pm), a cavalry charge over 1m1f he wants and Thore Hammer Hansen Tropbeau 2.25pm Newmarket The drop back in trip shouldn’t in- A reproduction of that performance with 32 runners where the unexposed takes off a valuable 5lbs. He looks a Beringer e/w 3.40pm Newmarket convenience her and any rain that will see him go close for the Andrew three-year-olds dominate the market. fair each-way price at 25/1. Jazeel e/w 3.40pm Newmarket falls will also be a huge positive as she Balding team who couldn’t be in Good Birthday, Le Don De Vie and My other selection is JAZEEL for Jedd Coulis and Comedy to leave punters laughing at HQ HERE aren’t many jockeys in season when beaten just a nose into close to the winner as she did that John Gosden’s KING OF COMEDY Only the neck of Circus Maximus Tbetter form than Jamie Spencer second by the Charles Hills-trained day and will certainly prefer this boasts a favourite’s chance in the stopped him from landing Group at the moment and he could en- Afaak in the super-competitive Royal return to a mile back against her Group Two Shadwell Joel Stakes One glory in the St James's Palace hance his return at Newmarket in Hunt Cup at Royal Ascot. own sex. She also won’t mind how (3.35pm) and could leave punters Stakes at Ascot in June and he should today’s Listed EBF Rosemary Stakes Excuses can be made for her down- much rain falls. laughing all the way to the bank. have too much quality for this field. (1.50pm). the-field finish in the Golden Mile at It’s been a relatively quiet season He has finished first or second in Spencer takes the ride on CLON Goodwood having been given a for trainer David Barron but his all of his efforts over seven furlongs POINTERS TODAY COULIS who looks one of the horrible draw and the seven furlong horses are coming back into form or a mile to date and will appreciate standout candidates on what is quite trip was just too short at York last and she looks a fair price at 11/1 with coming back in trip having possibly Clon Coulis e/w 1.50pm Newmarket a trappy card. time out. market leader Maqsad disappointing failed to stay in the Juddmonte King Of Comedy 3.35pm Newmarket She ran a cracker earlier in the In fact, she did well to finish as on her last two runs. International last time. 34 SPORT FRIDAY 27 SEPTEMBER 2019 CITYAM.COM SPORT

Chelsea can forget United and Tottenham, who are both about top four if also on eight points, albeit amid a seemingly more negative atmosphere, they don’t shape while the likes of Leicester City and West Ham look to be mounting a seri- up at home, says ous challenge to the status quo. The writing is not yet on the wall for Michael Searles Chelsea, but their home form will need drastic improvement if they are HERE was a peculiar feel at to have a successful season. Stamford Bridge last week- Stamford Bridge has largely been a end as the Chelsea fans ap- fortress for the Blues since Jose Mour- plauded Frank Lampard and inho took charge in 2004 and it has his team for a promising been an integral part of their success. performance,T despite losing 2-1 to On Chelsea’s way to the Premier Liverpool. The Blues had come out for the sec- ond-half already two goals down but played without fear, created chances, and made Premier League pace-setters Liverpool look vulnerable. But for a couple of missed opportu- Rarely does a nities to equalise, most notably from Mason Mount in stoppage time, the team start with so hosts could even have walked away few points and with a point. This young side have shown qualify for the glimpses of brilliance already this sea- son and there have been signs of the Champions League blueprint Lampard is trying to per- fect. Against Liverpool they came close to pulling it all together. League title in 2015, during Jose For the fans, this was worthy of Mourinho’s second stint as boss, the recognition. But the scoreline meant Blues did not lose a single game on that Lampard’s wait for a first win at their own ground. Stamford Bridge would go on. Two years later Antonio Conte Chelsea have claimed just eight kicked off a Premier League-winning points from their opening six Premier campaign with just 10 points from six League fixtures, meaning that victory BRIDGE games, including two wins and a de- at home to Brighton tomorrow is all feat at home. They would lose just one the more important. more top-flight game at the Bridge They won away to Wolves and Nor- during the remainder of the season. wich but their record in west London The need to win home games may has been poor – the midweek drub- be a footballing cliche, but it remains bing of League Two’s Grimsby Town true as a bedrock for success. excepted – drawing against Leicester Even Maurizio Sarri’s Chelsea of last City and Sheffield United and losing season lost just once at Stamford to Liverpool. Lampard’s side also lost Bridge on their way to third place. to Valencia in the Champions League OF SIGHS The supporters may have shown last week. their appreciation against Liverpool For all of the promise that Chelsea after succumbing to their fourth win- have shown on the pitch, and the pa- less match at home, but these fans tience fans have shown off it, the may soon become hungry for victories match with Brighton looks increas- seven with a win at home to Everton, once more. ingly like a must-win if his side are to CHELSEA HOME FORM: LAST FIVE SEASONS a result Chelsea will hope to emulate They are likely to be less forgiving keep alive hopes of finishing in the against the Seagulls this weekend. should Lampard’s home league top four. SEASON POINTS PER GAME POSITION MANAGER The last time a so-called Big Six side drought continue and Chelsea fail to had taken eight points or less from pick up three points against Brighton. SLUGGISH 19-20 0.67 - Lampard their opening six matches was just a Upcoming fixtures against Newcas- Rarely does a team start a campaign season later in 2015-16, when Liver- tle, Southampton, Burnley, Watford with so few points and qualify for the 18-19 2.21 3rd Sarri pool had eight and Chelsea seven. and Crystal Palace also present a Champions League. The last to do so 17-18 1.95 5th Conte They finished the season in eighth chance to start putting points on the was Manchester United during the and 10th respectively. That was a time board. How many they take from 2014-15 campaign, when they too had 16-17 2.79 1st Conte to forget for Chelsea fans, but that is home games will be crucial to their eight points from the opening six how slowly this campaign has begun. top-four hopes, starting tomorrow matches. They would make it 11 from 15-16 1.26 10th Mourinho/Hiddink It has been similarly sluggish for against Brighton. CITYAM.COM FRIDAY 27 SEPTEMBER 2019 SPORT 35

SPORT DIGEST ESSEX HOLD OFF SOMERSET TO WIN EIGHTH COUNTY TITLE Ford at the forefront of thrashing £ Essex won the County Championship for the second time in three seasons yesterday after their title-decider with Somerset ended in a draw at Taunton. The hosts needed a win to claim their first Leicester fly-half Captain for the day ever title, but rain left them needing to Ford led the side take 20 wickets on the final day of the stars as England from the front, season. Jack Leach took 5-32 to dismiss scoring 15 points the visitors for 141, but they reached 45-1 get confidence up in the second innings to secure their eighth Division One title, just five days with USA victory, after winning their first T20 Blast. The game also marked the end of Marcus writes Felix Keith Trescothick’s career, with the 43-year-old batsman calling time on his career. FTER their meek opener against Tonga, yesterday’s MURRAY: I’M IN TOP-60 FORM World Cup game with the DESPITE DE MINAUR DEFEAT USA was an opportunity for £ Andy Murray is confident he can all of England’s players, but improve his game after being knocked noneA more so than George Ford. out of the Zhuhai Championships in the Named captain by Eddie Jones, the last 16 yesterday. The former British No1, Leicester Tigers fly-half was handed who is currently ranked 413th in the responsibility for leading the side, di- world on his comeback from hip surgery, recting traffic and implementing tac- lost 4-6, 6-2, 6-4 against Australia’s Alex de tics. He grabbed the chance with both Minaur at the ATP event in China. “I’m hands in Kobe, putting in an imperi- probably playing top-70 or top-60 sort of ous, controlled performance which level,” Murray said. “However, I can still helped England run out winners. make a few improvements in the next It was Ford who spotted a gap and couple of days before playing in Beijing.” went under the posts to open the scor- ing, and from thereon in most posi- BURY PLEAS REJECTED BY tive play stemmed from him. FOOTBALL LEAGUE CLUBS Early on he used the boot to ensure £ Bury’s hopes of a swift return to the England’s pressure never let up and, Football League were quashed yesterday once the game had opened up in the after a proposal for the club to join second half, he defied the heat and League Two was rejected. The Shakers humidity to show the more creative were kicked out of League One last side to his game. He looks at home in month following a financial crisis and the the Red Rose No10 jersey. Bury Rescue Board’s efforts to have them reinstated next season on BERRY GOOD “compassionate” grounds were turned It wasn’t just England under pressure down by the league’s 71 clubs. Instead it to perform following a sub-standard was agreed just one side will be relegated start to the tournament, with the of- from League One and Two next summer. ficials keen to impress after unprece- dented criticism from World Rugby. HAMILTON: MERCEDES AWARE With poor officiating, and in partic- OF FERRARI’S ADVANTAGE ular high tackles, in the spotlight RUGBY WORLD CUP England won 16 of 17 line-outs and metres – the most of any player – and £ Lewis Hamilton has admitted he won’t there wasn’t an auspicious start all eight of their scrums, with the benefited from two incisive passes be the favourite to win any of the when, from the first contact of the ENGLAND USA handling errors in the loose indica- from Ford to cross the white line. remaining six Formula One races this game, England centre Piers Francis tive of sweaty palms largely absent season. The Mercedes driver has a 65- flattened Will Hooley with a poorly- from set pieces. SQUAD DEPTH point lead at the top of the standings, but aimed hit. There was plenty of other encourage- Ferrari have won the last three races with There was another high tackle from COKANASIGA’S CONFIDENCE ment for Jones, with back-up players their greater straight line speed. “We are Marcel Brache on Joe Launchbury, but While the first half was defined by showing their worth to provide com- conscious of the position we are in,” he overall referee Nic Berry and his assis- 45Tries: Cokanasiga 2, Try: Campbell 7 control and brute strength, the sec- petition for places. said. “There isn’t a short-term fix, but tants had a good game. Ford, Vunipola, Con: MacGinty ond opened up enough to allow the Flanker Lewis Ludlam was dynamic there are other areas we can do better in.” Former player Berry was clear in his Cowan-Dickie, backs more space in which to operate. around the fringes and grabbed his communication and correctly sent off McConnochie, England ran in seven tries alto- first England try, centre Jonathan KYRGIOS FINED AND HANDED John Quill, whose shoulder charge gether, and although that tally could Joseph brought excitement with a SUSPENDED 16-WEEK BAN Ludlam left Farrell with what Jones described Cons: Ford 5 easily have been higher, there was nimble pirouette in the build-up to £ Nick Kyrgios has been fined $25,000 as “half of his nose”. plenty of skill, invention and pace on Cokanasiga’s first try and replace- and given a suspended 16-week ban for show to encourage them for the big- ment prop Ellis Genge showed his “aggravated behaviour” on court. The 24- WELL-OILED MACHINE which contained 10 changes from the ger tests which await against Ar- turn of speed for the final score. year-old Australian was fined $113,000 for Playing a vastly inferior side ranked Tonga match click into gear. gentina on 5 October and France a Jones will have been irritated by the smashing two rackets in a bad-tempered 13th in the world allowed England The fact they were 19-0 up at the week later. lack of game awareness which al- defeat against Karen Khachanov at the the chance to go through all their set- break owed much to the line-out, with Joe Cokanasiga had to settle for two lowed the USA to score through Bryce Cincinnati Masters in August. But an ATP piece routines. Tom Curry gathering for Billy Vu- tries after being unable to gather Far- Campbell in the dying moments to investigation decided his “pattern of Right from the first whistle their nipola to score before Luke Cowan- rell’s lovely late kick, but the 21-year- prevent a first England World Cup behaviour” in the last 12 months utter dominance was clear and Jones Dickie eased over from another old won’t be too upset. shut-out, but overall it was a job well warranted further punishment. will have been pleased to see a team catch-and-drive. The imposing Bath winger made 85 done in Kobe. Elegance is an attitude

Simon Baker

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