There will be a V-shaped recovery in some sectors, says Sir Martin Sorrell July 3, 2020 Advertising mogul Sir Martin Sorrell has said that the coronavirus crisis has disrupted the status quo, and companies’ recovery will be dependent on sector. Speaking to City A.M.’s City View podcast, Martin Sorrell, who has previously spoken of a V-shaped recovery, said the pandemic has pushed services further online, at a consumer level and beyond. [...]
‘Major incident’ in Tilbury Port as grain silos damaged in explosion July 3, 2020 The roof of a grain store at Tilbury Port in Essex was partially destroyed in an explosion earlier today. A spokesperson for the port said a “major incident” occurred this morning. The fire service said the incident happened at around 9.55am. Crews from the East of England Ambulance Service attended the incident, with one person [...]
Johnson says he’s more optimistic than Barnier on post-Brexit trade deal July 3, 2020 Prime Minister Boris Johnson said he is more optimistic than European officials about the prospect of Britain securing a post-Brexit trade agreement, but said the UK could still leave the bloc without a deal if needed. Johnson said he was a bit more optimistic than chief EU negotiator Michel Barnier, who said this week that [...]
Jean Castex appointed French PM in cabinet reshuffle July 3, 2020 French president Emmanuel Macron has appointed local mayor Jean Castex as prime minister following this morning’s resignation of Edouard Philippe. Castex, who masterminded France’s exit from the coronavirus lockdown, will be tasked with forming the new government, the Elysee palace said. The overhaul is part of a push from Macron to “reinvent” centrist party En [...]
Pride in a pandemic: Putting intersectionality top of the agenda July 3, 2020 The most vulnerable and marginalised members of society have faced the worst consequences of this global health crisis. Coronavirus has highlighted the many ways in which issues related to gender and sexual identity, race, and socioeconomic circumstances all intersect. Equality is becoming one of the defining narratives of this pandemic. People are waking up to [...]
French PM resigns ahead of Macron reshuffle after election trouncing July 3, 2020 French prime minister Edouard Philippe has this morning resigned ahead of a government reshuffle by president Emmanuel Macron. The Elysee palace said that a new prime minister would be named within the hours. It added that Philippe would continue to manage government affairs until a new cabinet had been named. Doubts had arisen over Philippe’s [...]
The City View: Sir Martin Sorrell on why Boris is in trouble if unemployment bounces July 3, 2020 In today’s episode of The City View, advertising giant Sir Martin Sorrell talks to City A.M.’s Andy Silvester about the economic recovery, leading a company through these difficult times and the acceleration of the shift to digital. He also offers his views on the response of firms to increased awareness of racial inequality, the US [...]
Brexit: UK vows to complete City of London assessments in two weeks July 2, 2020 The government has vowed to hand over paperwork to ensure the City of London maintains post-Brexit EU access within the next two weeks, after missing the initial deadline. The UK was supposed to hand over 28 regulatory equivalence assessments by Monday for the EU to assess if it would allow access to Britain’s financial services [...]
EU banks take on Visa and Mastercard with ‘truly European’ payments system July 2, 2020 Some 16 banks from across the EU have said that they expect to have a “truly European” payments system up and running in 2022, to help digitise a region in which half of all retail payments are made in cash. European Union policymakers and central bankers have long sought to develop a home grown rival [...]
Cracked encryption app leads to hundreds of arrests July 2, 2020 Efforts by police to crack an encrypted messaging app used by criminals has led to the arrests of “iconic” figures of the British underworld. The National Crime Agency (NCA) today said it had “successfully penetrated” Encrochat, a secure smartphone instant messaging app that was used by criminals to coordinate their activities. The move has allowed [...]