BRITISH HERALD
ISSN 2632-8836
WHERE BRITAIN MEETS THE WORLD
£4.00
VOL 2 ISSUE 3 MAY-JUN 2020
P/19
P/52
Britain outpaces Italy with Europe's highest official coronavirus death toll
Over 90,000 health workers infected with COVID-19
ANGELA DOROTHEA MERKEL facebook.com/britishherald
Europe’s Empress
May-June 2020
1
BRITISH HERALD
2
May-June 2020
www.britishherald.com
BRITISH HERALD
British Herald is among the world’s leaders in online news and information delivery. With our service, one can read up-to-the-minute news stories and receive Breaking News text alerts. British Herald is a registered trademark owned by Herald Media Network Limited, United Kingdom. Herald Media Network Limited is one of the leaders in the global media market. Leveraging on its consolidated strengths in the digital media and communication market, as well as its well-established branding and advertising networks. The efforts in producing quality content and transforming them into a multimedia platform have been well recognized and has accreditated British Herald both at National and International levels.
facebook.com/britishherald
May-June 2020
3
BRITISH HERALD
EDITOR'S NOTE
Not Boris To Blame
G
lobally, fingers are being pointed at UK’s COVID-19 mishandling, especially British Prime Minister Boris Johnson’s complacency. Set against the landscape of a global pandemic, three countries (the UK, U.S. and Italy) have come under the microscope of criticism. A fourth, Russia, shall soon be added to the list, the way things are going. The staggering infection rates and death tolls in these countries have put them on to the radar. It began in March when Johnson refused to impose the stringent lockdown restrictions which were already taking effect in other European countries. Johnson imposed restrictions as soon as projections predicted a death toll of a quarter of a million. This delay left Johnson’s supporters from the election end of last year second-guessing. Opposition Labour party leader Keir Starmer began publicly questioning Johnson’s accountability. Underestimating the pandemic in the UK was not solely Johnson’s fault. He weighed in the options of a premature lockdown and
the economic impact of those restrictions. As soon as the scales tipped towards an uncontrollable death toll, restrictions were put in place. Shortly after came the herd immunity fiasco. Herd immunity has never been a policy or goal, as has been stated multiple times by government spokesmen. Thereafter, experts have been consulted every step of the way. A lesson learnt. Boris himself came face-to-face with the seriousness of the COVID-19 landing him in the ICU for almost a week. It is extremely apparent now that the government has been doing its best to limit the spread of the coronavirus to reduce the strain on the National Health Service. Through this editorial, in no way, am I trying to take away from the weight of the UK coronavirus deaths- every loss is acknowledged, the pain of their loved ones is understood. It is a global pandemic that has the entire world on edge. The blame game doesn’t help anyone. Let’s move forward keeping in mind strategies to avoid the second wave of infections, let’s aim to
Read more! log on to: www.britishherald.com
4
May-June 2020
flatten the curve. Once all of this is over, it would be fair to conduct an enquiry on all that has happened, but for now, it’s counter-productive. In this issue, we also examine Germany’s quick response to the coronavirus pandemic in our cover story with Angela Merkel. There are major disparities in how Germany and the UK handled the pandemic, for sure. But all said and done, it’s not Boris to blame.
Best,
ANSIF ASHRAF Managing Editor, British Herald ansif@britishherald.com
www.facebook.com/britishherald
www.britishherald.com
BRITISH HERALD
CONTENT
MAY-JUNE 2020 | VOLUME 02 | ISSUE 03
6
17
6 | Angela Dorothea Merkel - Europe’s Empress
17 | UK's plan for exiting the coronavirus lockdown
22
26
47
22 | Queen tells Britain 'never give up' in tribute to WW2 generation
26 | Protesters stage day of action against Britain's planned rail link
47 | UK sent coronavirus tests to United States for processing
41 | EU regulator under fire over bank rescue fund levy in pandemic
46 | Britain borrows 3.25 billion pounds of almost-free money
71 | Locked out of galleries, Londoners find Caravaggio street art
WHERE BRITAIN MEETS THE WORLD
ISSN 2632-8836
Managing Director & Group Editor-in-Chief Ansif Ashraf www.ansif.com, Senior Editor Ashly Christopher, Associate Editor Neha Nambiar, Contributors | Via Reuters Steve Gorman, Nichola Groom and Alex Dobuzinskis, Paul Sandle, Isla Binnie, Julie Zhu and Kane Wu, Sinead Cruise and Huw Jones, Edward Taylor, Matthew Stock, Josh Horwitz, Stephen Nellis, Kate Kelland and Julie Steenhuysen, Tom Miles, David Shepardson, Paul Lienert and Ben Klayman, Paresh Dave, Jayson Mansaray, Pascale Denis and Richard Lough, Sheila Dang, Jamie Freed, Paul Carsten and Alexis Akwagyiram, Emily G Roe., Layout & Design Sooraj SV., IT & Support Rajagopal Gangadaran Advertising & Sales Shameela Jabeen (advertise@britishherald.com) Digital Marketing Adnan Niroukh Published by; HERALD MEDIA NETWORK LIMITED Company Number – 11289223, Registered Address: 156 Brompton Road, Knightsbridge, London SW31HW, England. United kingdom, T +44 20 8123 7074, M mail@britishherald.com W www.britishherald.com ©2019 Herald Media Network Limited. © 2019 BRITISH HERALD, as to material published in the U.K., All Rights Reversed. ©2019 Herald Media Network Limited, as to material., British Herald e-Magazine is published bi-monthly. Copying for other than personal use or Internal reference or of articles or columns not owned by BRITISH HERALD without written permission of Herald Media Network Limited is expressly prohibited.
Views and opinions expressed in this magazine are not necessarily those of Herald Media Network Limited, Its publisher and/or editor. We (at Herald Media Network Limited) do Our best to verify the information published, but do not take any responsibility for the absolute accuracy of the information. Herald Media Network Limited does not accept responsibility for any investment or other decision taken by readers on the basis of information provided herein. British Herald ® is published under a license Agreement with Herald Media Network Limited, 156 Brompton Road, Knightsbridge, London SW31HW, England. ‘’BRITISH HERALD’’ is a trademark used under license From Herald Media Network Limited.
facebook.com/britishherald
May-June 2020
5
ANGELA DOROTHEA MERKEL
COVER STORY
BRITISH HERALD
6
May-June 2020
www.britishherald.com
BRITISH HERALD
COVER STORY
ANGELA
DOROTHEA
MERKEL
Europe’s Empress
A
mid the coronavirus confusion, world leaders scrambled to address their nations- some being dismissive, some playing the blame game, some overconfident in putting forth unvalidated observations and some getting to work at the onset of the first case. Among all of these hasty underreactions and overreactions, was German Chancellor Angela Merkel- her background in science allowed her to put forth an extremely calm explanation of the situation, urging caution yet avoiding panic. Will this response be remembered as Merkel’s Swan Song of sorts- or are there bigger things to come until the end of her term in 2021? Only time will tell.
facebook.com/britishherald
May-June 2020
7
BRITISH HERALD
COVER STORY In 2013, she held office for the third term followed by a fourth term in 2017. This year, before coronavirus reared its ugly head, Merkel’s succession was in the talks towards the end of last year. Annegret Kramp-Karrenbauer seemed like the most likely candidate for chancellor. However, in February 2020, AKK announced her resignation. As of now, the Empress of Europe’s succession plan appears to be quite hazy on expiry of her term in 2021; she had made it very clear, back in 2018, that she would not run again. It’s safe to say that Merkel’s exit from the German political scene will leave shoes too big to fill.
“The Queen of Germany and the Empress of Europe”
German ChancellorThe Chancellor of the Free World Angela Merkel’s connotation as the ‘Chancellor of the Free World’ was birthed by TIME Magazine, back in 2015, when she graced their cover as the Person of the Year. She has been the German Chancellor for over 15 years with 4 terms in office.
8
May-June 2020
Merkel assumed the office of Germany’s Chancellor back in 2005, elected by a majority. She was headfast in her pursuit of reduction in unemployment rates during her first term.
Every successful politician is sure to have a dearth of controversy surrounding them. Merkel is no different. She’s no stranger to conflict resolution- it’s what she lives and breathes, every day. Merkel is one to weigh all the options and when a decision is to be made- thought trumps the heart, most of the time. Her evidence-based decision making skill has often come under the microscope of political critics. This could be attributed to her background in science and her PhD in Physics- she is calculative. And she should be- after all, she IS the Empress of Europe.
She was then re-elected as Chancellor in 2009. It was during this term that she came faceto-face with the nasty European debt crisis with plummeting employment rates.
This conflict resolution has put her on the receiving end of a lot of criticism. Her political stance when it came to rescuing Greece from its crisis and subsequent economic recession or on
www.britishherald.com
BRITISH HERALD her country’s nuclear power plants. Even her silence speaks volumes and what she doesn’t say upfront holds meaning. She is the epitome of dramaless leadership for the Germans. She’s not the conventional woman leader one would expect her to be- her lacklustre demeanour is no match to her vibrant excellence in work. She reigns like the Queen of Germany that she is, drawing the lines and then allowing people to do what they deem fair.
The Most Powerful Woman in the World? Forbes Magazine seems to be a broken record when it comes
facebook.com/britishherald
COVER STORY
Merkel has been the German Chancellor for over 15 years with 4 terms in office. to naming their ‘World’s Most Powerful Women’, stuck on Merkel. She’s come out on top every year since 2006, with the exception of 2010 when she
was bumped down to the fourth place. However, she is the only woman to have her name appear on the list- every single year. Almost 7 decades after Hitler’s term as German Chancellor, Malta’s ambassador to Finland recently took to his Facebook to compare the dictator to Merkel, drawing parallels to the current Chancellor fulfilling the former Chancellor’s dream to control Europe. The post has since been taken down and the ambassador also issued an apology, followed by his resignation. A quick look at Merkel is quite the opposite of what you’re groomed to be as a politicianshe isn’t impeccably dressed always, is quite low-key or
May-June 2020
9
BRITISH HERALD
COVER STORY Angela Merkel’s
Political Career Timeline
10
May-June 2020
www.britishherald.com
BRITISH HERALD
1989: Becomes a member of Democratic Awakening Party
1990: Joins CDU Party, the party she currently is in
COVER STORY
doesn’t ooze with a charisma of leadership. Merkel’s no-nonsense leadership method is definitely getting something right to make her one of the most powerful women in the world.
1990: Made Deputy Government Spokeswoman of the East German de Maizière government
1990-current: Merkel is the German Member of parliament
1991-1994: Elected as Federal Minister for Women and Youth
Awards and Recognitions Starting closer to home, Angela Merkel has been awarded the Grand Cross 1st Class of the Order of Merit of the Federal Republic of Germany.
1993-2000: Becomes Chairwoman of the CDU
Heading out across the world, in alphabetical order, Merkel has been awarded:
1994-1998: Made the Federal Minister for the Environment,
•
Grand Decoration of Honour in Gold with Sash of the Order of Honour for Services to the Republic of Austria
•
Grand Cross of the Order of the Balkan Mountains in Bulgaria
•
Jawaharlal Nehru Award for International Understanding from India
•
President's Medal from Israel
•
Grand Cross of the Order of Merit of the Italian Republic
•
Grand Officer of the Order of the Three Stars from Latvia
•
Grand Cross of the Order of Vytautas the Great from Lithuania
•
Knight Grand Cross of the Order of Merit from Norway
Nature Conservation and Nuclear Safety
1999-1998: Becomes Deputy Chairwoman of the CDU
1998-2000: Made the Deputy Secretary of the CDU
2000-current: Chairwoman of the CDU
2005-current: Chairwoman of the CDU/CSU faction in parliament
2005: Merkel is sworn in as Federal Chancellor
2009: Re-elected as Federal Chancellor
2013: Re-elected again as Chancellor
2017: Merkel is re-elected to her fourth term as chancellor
facebook.com/britishherald
May-June 2020
11
BRITISH HERALD
COVER STORY landscape. Amid crisis, the true colours of leaders are revealed and something that has become increasingly apparent during the COVID-19 pandemic. Even though women are a minority in this political landscape, they stood out with their innate leadership. Male leaders hastily addressed their nations- while some not at all, others all too late. Angela Merkel was calm, she was quick to act. She warned her people and worked on increasing coronavirus testing.
•
Grand Cross of the Order of the Sun of Peru
•
Grand Cross of the Order of Infante Henry, Portugal
•
Grand Officer of the Order of Abdulaziz al Saud, Saudi Arabia
•
Presidential Medal of Freedom, U.S.A.
•
1st Class of the Order of the White Double Cross in Slovakia
the Karlspreis (Charlemagne Prize) and B'nai B'rith Europe Award of Merit.
In a male-dominated field, Merkel shows the way A leading lady in every sense of the word, Merkel is one of the few influential and trailblazing global women leaders in a world of males dominating the political
Merkel- The Reason for Germany’s COVID-19 Success There are a few points to be highlighted when it comes to Germany’s response to the coronavirus: Everything is backed by expert opinions and research In her address, Merkel made
In addition to these recognitions, Merkel has also been awarded honorary doctorates from the Hebrew University of Jerusalem, Leipzig University, the University of Technology in Wrocław (Poland), Babeș-Bolyai University from Cluj-Napoca, Romania as well as Radboud University Nijmegen, University of Szeged, Comenius University in Bratislava, University of Bern, Ghent University, Katholieke Universiteit Leuven, the University of Helsinki and the Harvard University. Angela Merkel has been awarded the Vision for Europe Award for her contribution toward greater European integration. Then she received
12
May-June 2020
www.britishherald.com
BRITISH HERALD
COVER STORY
it very apparent that all the information had come from experts and all the public health decisions were a result of consulting with them. Call-to-action with clarity on restrictions Merkel urged Germans to adhere to the restrictions put in place. She requested their solidarity. She made it clear that sports events will be conducted in empty stadiums and the cancellation of big events. Merkel made her plea about protecting older people, those with previous illnesses and vulnerable groups. Germany is prepared to borrow more to brace for the economic impact of coronavirus. There was no blame, there wasn’t any confusion. The priority was common good. It was all as clear as day because Merkel made it that way. Positive- without false promises Merkel said, “This is putting our solidarity, our common sense and our open-heartedness for one
Amid crisis, the true colours of leaders are revealed. Even though women are a minority in this political landscape, they stood out with their innate leadership. Angela Merkel was calm, she was quick to act. She warned her people and worked on increasing coronavirus testing.
another to the test. I hope that we will pass it.” She ended her speech by quite simply saying, “Take good care of yourselves and your loved ones”.
Fragile Success and Slow Easing of Germany’s Lockdowns Germany is beginning to ease their lockdown and this multi-step gradual process is an effort to cushion the harsh economic blow attributed to the coronavirus. The epidemic is far from gone, but it has been decelerated to a considerable extent. A vaccine will take far too long. Where we stand, the economic impact of the pandemic is harsher than the blow from the financial crisis a year ago. This explains why a slow exit from the lockdown restrictions is even under consideration- but in the safest way known how. All Eyes on Angela Merkel!
facebook.com/britishherald
May-June 2020
13
BRITISH HERALD
UK
UK Airlines Body: Britain to quarantine travellers for 14 days
T
he British government has told airlines it will introduce a 14-day quarantine period for most people arriving from abroad to try to avoid a second peak of the coronavirus outbreak, an association representing the airlines said. Airlines UK, which represents British Airways, easyJet and other UK carriers, said the move required "a credible exit plan"
14
May-June 2020
and should be reviewed weekly. Airport operators said it could have a "devastating" impact on the aviation industry and the broader economy.
Under measures that are likely to come into force in early June, travellers will have to provide the address at which they will selfisolate on arrival, The Times said.
First reported by The Times, the quarantine plan said that British Prime Minister Boris Johnson would announce that passengers arriving at airports and ports, including Britons returning from abroad, would have to selfisolate for a fortnight. .
"These measures will help protect the British public and reduce the transmission of the virus as we move into the next phase of our response," The Times quoted a government source as saying. Johnson's Downing Street office
www.britishherald.com
BRITISH HERALD
UK
"Quarantine would not only have a devastating impact on the UK aviation industry, but also on the wider economy," said Karen Dee, Chief Executive of the Airport Operators Association. "If the government believes quarantine is medically necessary, then it should be applied on a selective basis following the science, there should be a clear exit strategy and the economic impact on key sectors should be mitigated." Airlines UK said it would seek assurances that the move is "led by the science" and that airlines would need support measures to ensure the aviation sector gets through the quarantine period. and the interior ministry declined to comment. At the government's daily news briefing, transport minister Grant Shapps did not confirm the quarantine plans but said, with the UK infection rate down, "it clearly then makes sense to look at what happens at the borders".
Pilots union Balpa said it was concerned the commercial impact of a quarantine scheme
had not been thought through by the government. The Times report said travellers from Ireland, the Channel Islands and the Isle of Man would be exempt from the quarantine, as would lorry drivers bringing crucial supplies. It said the authorities would carry out spot checks and those found to be breaking the rules would face fines or deportation. Britain has reported 31,587 deaths from the coronavirus and Shapps said Johnson would not announce any dramatic changes to Britain's lockdown to Britain's lockdown anytime soon.. "We will have to proceed with an unbelievable degree of caution, we will not be able to go back to business as usual," he said.
Ireland has had similar measures in place since April. Johnson has announced the next steps in Britain's battle to tackle the pandemic following a review by ministers of lockdown measures that have all but shut down the economy and kept millions at home for nearly seven weeks.
'Unbelievable Caution' Airport operators said a quarantine would compound damage done by the virus to the aviation industry as it would put people off travelling when lockdown restrictions are lifted.
facebook.com/britishherald
May-June 2020
15
BRITISH HERALD
UK
UK hospital trials blood plasma treatment for COVID-19
A
top British hospital will use blood plasma treatment for COVID-19 patients as part of a trial that transfuses plasma from recovered people into sick people to give their immune systems a boost to fight the virus.
any specific treatment.
Since the novel coronavirus emerged in China late last year, it has killed more than 200,000 people worldwide and drug companies are racing to produce a vaccine though there is not yet
Blood plasma donations from people who have recovered from COVID-19 is transfused into sick patients whose bodies are not producing enough of their own antibodies against the virus.
16
May-June 2020
London's Guy’s and St Thomas’ Hospital, which Prime Minister Boris Johnson said helped save his life after he fell gravely ill with COVID-19, is to test the so called "convalescent plasma" treatment as part of an international trial.
"At the moment, there is no proven treatment for COVID-19," said Dr Manu Shankar-Hari, a consultant in intensive care medicine at Guy’s and St Thomas’. "Convalescent plasma is a promising treatment that could help patients whose bodies aren’t producing enough antibodies to curb the disease," he said. "This trial will help us understand whether the treatment should be used more widely to treat COVID-19."
www.britishherald.com
BRITISH HERALD
UK
Factbox: UK's plan for exiting the coronavirus lockdown
CONDITIONALITY The government says that any of the changed social distancing measures will be monitored to gauge whether the changes increase the rate of infection the so-called R (reproduction) rate. If so or if the government identifies hotspots, ministers could reintroduce some stricter measures. Any further decisions on easing the lockdown will depend on what scientists know at the time, and so some of the provisional dates for further steps might be changed.
THE VULNERABLE - Those in the clinically extremely vulnerable group will continue to be advised to shield themselves for some time yet
BACK TO WORK? - For the foreseeable future, workers should continue to work from home rather than their normal physical workplace, wherever possible
T
he British government published its plan for exiting the coronavirus
lockdown.
The 51-page document, entitled "Our Plan to Rebuild: The UK Government’s COVID-19 recovery strategy", gives an outline of how the United Kingdom could return to normal life. The roadmap is set out in three steps, gradually easing over time the stringent restrictions that have all but shuttered the
facebook.com/britishherald
economy. Following are the main points:
HOW FAST? "This is not a short-term crisis. It is likely that COVID-19 will circulate in the human population longterm, possibly causing periodic epidemics. In the near future, large epidemic waves cannot be excluded without continuing some measures." "In the near term, we cannot afford to make drastic changes," the government said.
- All those who cannot work from home should travel to work if their workplace is open.
SCHOOLS - Schools should prepare to begin to open for more children from 1 June. The government’s ambition is for all primary school children to return to school before the summer for a month if feasible.
TRANSPORT - Everybody (including critical workers) should continue to
May-June 2020
17
BRITISH HERALD
UK - The government will carefully phase and pilot re-openings to test their ability to adopt the new COVID-19 Secure guidelines.
MASKS - The government is now advising that people should aim to wear a face-covering in enclosed spaces where social distancing is not always possible. People can make their own cotton masks, buy similar in shops or on the Internet or wear scarves.
GOING OUTSIDE
avoid public transport wherever possible. Walk or cycle if possible. Try and avoid peak times on public transport.
out shortly, and the measures and list of exemptions will be kept under regular review.
- Social distancing guidance on public transport must be followed rigorously. As with workplaces, transport operators should follow appropriate guidance to make their services COVID-19 Secure; this will be published this week.
HOUSEHOLD BUBBLES
INTERNATIONAL TRAVEL - The government will require all international arrivals not on a short list of exemptions to selfisolate in their accommodation for 14 days on arrival into the UK. All journeys within the Common Travel Area will be exempt from these measures. - These international travel measures will not come into force on 13 May but will be introduced as soon as possible. Further details and guidance will be set
18
May-June 2020
- UK is looking at how to allow people to expand their household group to include one other household. This could be based on the New Zealand model of household "bubbles".
NON-ESSENTIAL RETAIL - Non-essential retail will reopen in phases from June 1. - After July 4, some remaining businesses could open. Examples include personal care (such as hairdressers and beauty salons) hospitality (such as food service providers, pubs and accommodation), public places (such as places of worship) and leisure facilities (like cinemas).
- People can now also spend time outdoors. One person can meet a friend outside if they respect the social distancing measures. People may exercise outside as many times each day as they wish. People may drive to outdoor open spaces irrespective of distance.
COMPLIANCE - The government is examining more stringent enforcement measures for non-compliance, as it has seen in many other countries. Earlier, a government official said fines would be increased for not adhering to the new rules. [L8N2CS0BZ]
COST - These measures are extraordinarily costly and cannot be sustained for a prolonged period of time. As the UK adjusts the current restrictions, the government will also need to wind down the economic support measures while people are eased back to work.
www.britishherald.com
BRITISH HERALD
UK
Britain outpaces Italy with Europe's highest official coronavirus death toll
B
ritain has overtaken Italy to report the highest official death toll from coronavirus in Europe with more than 32,000
deaths.
The high death toll could increase political pressure on Prime Minister Boris Johnson, who waited longer than other European leaders to order a lockdown to curb the spread of the virus in March. Weekly figures from Britain's national statistics office added more than 7,000 deaths in England and Wales, raising the total for the United Kingdom to 32,313.
facebook.com/britishherald
May-June 2020
19
BRITISH HERALD
UK
The figure is one of several methods for calculating deaths and difficult to compare with other countries, but it offers the clearest sign yet that Britain could emerge as the worst-hit country in Europe, despite being hit later than other countries. Opposition parties have raised questions about Johnson's initial decision to delay a lockdown at a time when hospitals in Italy were already being overrun. They also say his government was too slow to introduce mass testing and provide enough protective equipment to hospitals. The true figure for deaths from coronavirus may be even higher. The Office of National Statistics said 33,593 more people had died than average up to April 24 in England and Wales, compared to 27,365 cases in which coronavirus was mentioned on the death certificates.
20 May-June 2020
www.britishherald.com
BRITISH HERALD
UK
UK commuters face cycling or walking to work once lockdown is eased
reverting to a full service, once you take into account the two-metre social distancing rule, there would only be effective capacity for one in 10 passengers in many parts of our network, just a tenth of the old capacity," said Shapps. He noted that in some parts of Britain there had been a 70% rise in the number of people using bikes during the pandemic. "Whilst it's crucial that we stay at home, when the country does get back to work we need to ask those people to carry on walking and cycling and for them to be joined by many others as well," he said. Shapps said local councils will be required to reallocate road space for significantlyincreased numbers of cyclists and pedestrians.
M
ore commuters should consider cycling or walking when Britain's coronavirus lockdown is eased to take the pressure off public transport capacity that is likely to drop by 90% under social distancing requirements, Transport Minister Grant Shapps said.
distancing rules means they will only be able to carry vastly reduced passenger numbers. But an increase in private car use to commute to work is likely to lead to roads and motorways becoming choked with traffic. "Even with public transport
He said pop-up bike lanes with protected space for cycling, wider pavements, safer junctions, and cycle and busonly corridors will be created within weeks, while E-scooter trials will be brought forward, with the potential for rental vehicles on UK roads as early as June.
He urged people to continue to work from home where possible, but said those who did have to commute to work should consider cycling or walking rather than using their cars. The requirement for buses, trains and underground rail services to maintain social
facebook.com/britishherald
May-June 2020
21
BRITISH HERALD
UK
Queen tells Britain 'never give up' in tribute to WW2 generation and women called up to serve, families separated from each other or people asked to take up new roles and skills to support the war effort, all had a part to play," the queen said. "At the start, the outlook seemed bleak, the end distant, the outcome uncertain," she added. "Never give up, never despair, that was the message of VE Day."
B
ritain's Queen Elizabeth honoured those who died in World War Two on 8 may, the 75th anniversary of Victory in Europe Day, and used the occasion to say she was proud of how people had responded to the coronavirus pandemic. In a televised message, the 94-year-old monarch said those who had served during the conflict with Nazi Germany in the 1940s would admire how their descendants were coping with COVID-19 and the lockdown imposed to curb its spread. "Today it may seem hard that we cannot mark this special anniversary as we would wish," Elizabeth said, reflecting on the scaling down of events to mark the VE Day anniversary because of a ban on social gatherings, with a veterans' parade cancelled and street parties scrapped.
22 May-June 2020
"Instead we remember from our homes and our doorsteps. But our streets are not empty. They are filled with the love and the care that we have for each other. "When I look at our country today and see what we are willing to do to protect and support one another, I say with pride, that we are still a nation those brave soldiers, sailors and airmen would recognise and admire." Britain has the highest death toll in Europe from COVID-19 at more than 30,000, a number second only to the United States. Prime Minister Boris Johnson has likened the fight against the coronavirus to a war, and the queen's words about the conflict of 75 years ago appeared applicable today. "It had affected everyone and no one was immune from its impact. Whether it be the men
Elizabeth, who delivered her address exactly 75 years to the hour after her father George VI gave his victory speech to the nation, was a teenager during the war and as a member of the women's Auxiliary Territorial Service, she learned to drive military trucks. As Britain celebrated victory on May 8, 1945, she and her late younger sister Margaret famously slipped out to join the throng outside Buckingham Palace, believed to be the only time during her 68-year reign she has been among the public unrecognised. "I vividly remember the jubilant scenes my sister and I witnessed with our parents and Winston Churchill from the balcony of Buckingham Palace," the queen said. "A sense of joy in the crowds who gathered outside and across the country was profound." She said the greatest tribute to those who gave their lives was that countries that were enemies during the war were now friends.
www.britishherald.com
BRITISH HERALD
Prince Charles thanks post workers for keeping Britain connected in crisis
UK In a letter addressed to "everyone at Royal Mail" and dated May 5, the heir to the throne and his wife said many people had taken to writing to those from whom they were separated. Royal Mail is a former monopoly that provides letter and parcel deliveries to more than 30 million businesses and households. "The incredible value of what you do has never been more important," the couple said in the letter, which was posted on Twitter by their office. "Today, as many people ourselves included - are obliged to stay at home, Royal Mail plays an absolutely vital role in keeping family and friends in touch with one another. For that we can only say how deeply grateful we are." Signed off with "a big 'thumbs up' from us both", the letter was collected by their local postman Neil from the doorstep of their Scottish residence Birkhall, where Charles recovered after testing positive for coronavirus.
P
rince Charles and his wife Camilla have written to Britain's postal workers to thank them for their role in helping families and friends keep in touch during the coronavirus lockdown. Britons have been unable to meet their loved ones for nearly seven weeks as part of government measures to try to control the spread of the virus, with Prime Minister Boris Johnson set to announce only a very limited easing of the lockdown in a televised address later.
facebook.com/britishherald
May-June 2020 23
BRITISH HERALD
UK
Flypasts and promotion for UK fund-raising hero "Colonel" Tom as he turns 100
the most money raised by an individual through a walk. He has also become the oldest person to notch up a number one single in Britain's main music chart, featuring on a cover version of "You'll Never Walk Alone", with his endeavours winning the hearts and admiration of the public.
B
ritish World War Two veteran Captain Tom Moore, who has become a national hero after raising millions for the health service, celebrated his 100th birthday with a promotion, military flypasts and a message from the prime minister. In early April, Moore began a
24 May-June 2020
fundraising mission for charities that help front-line National Health Service staff battling the COVID-19 crisis by completing laps of his garden with the help of a walking frame, initially setting out to raise just 1,000 pounds. As he celebrated his centenary, the amount he raised topped 30 million pounds ($37.4 million), the Guinness World Record for
To celebrate his birthday, Moore was appointed the first Honorary Colonel of the Army Foundation College, based near the town where he grew up, a position that came with the approval of Queen Elizabeth, the defence ministry said. He has also been re-presented with his World War Two Defence Medal which he had lost. Historic World War Two aircraft carried out a flypast above "Colonel" Moore's home in Bedfordshire, central England,
www.britishherald.com
BRITISH HERALD
UK wherever you are," Moore said. His exploits earlier this month have been heralded by politicians and royalty alike. Prime Minister Boris Johnson, who returned to work that very same day after recovering from COVID-19 himself, recorded a special message for Moore. "I know I speak for the whole country when I say we wish you a very happy 100th birthday. Your heroic efforts have lifted the spirits of an entire nation," Johnson said. He said Moore was a "point of light in all our lives". The royal family have also sent messages of congratulations, including a card from the queen.
early, with a second fly over by modern Royal Air Force helicopters due later.
been sent to him by well-wishers, so many that a nearby school has had to open and display them.
Moore, who said he was still "Captain Tom", said he was honoured by his promotion and all the kind messages he had received.
"I never, ever anticipated ever in my life anything like this, it really is amazing. I must say ... thank you very much to everyone,
"I was most interested to hear of your recent fundraising efforts for NHS Charities Together at this difficult time," said the 93-yearold monarch, who traditionally writes to centenarians on their birthday. "I send my congratulations and best wishes to you on such a special occasion."
Served In Southeast Asia "If people choose to call me colonel, well thank you very much," he told BBC TV with a chuckle. The veteran, who served in southeast Asia during the war, waved at the World War Two fighter planes as they flew over his home. Britain's Royal Mail has added a special postmark to all stamped post with a congratulatory message to Moore, while more than 125,000 birthday cards have
facebook.com/britishherald
May-June 2020 25
BRITISH HERALD
UK
Protesters stage day of action against Britain's planned high-speed rail link
Although protesters have been occupying clearings and treehouses for years, organisers said they had staged the action in London to draw national attention to the prospect that 108 woodlands will be damaged or destroyed. HS2 said the project would create thousands of jobs and contracts for small British businesses, and described the protests as dangerous, costly and unacceptable. "This is an important investment in the UK's future as we recover from the pandemic," said an HS2 spokesperson. "We'd urge all green groups to help us in getting people out of their cars, off planes and onto low-carbon, high speed rail." A review was carried out last year into whether HS2 should go ahead, after its predicted cost rose to a reported 106 billion pounds ($130 billion), almost double the bill five years ago.
P
rotesters blocked construction sites along the route of a planned high-speed rail link, aiming to stop swathes of British woodlands being felled for a project that has also faced criticism over spiralling costs. Prime Minister Boris Johnson backed the scheme, known as HS2, in February after protracted wrangling within his Conservative party over whether to proceed with the plan to improve connections between London and northern England. "This tree is threatened by HS2 as are thousands up and down
26 May-June 2020
the country, but we can stop this," said Larch Maxey, one of several protesters who scaled a tree near an HS2 site outside London's Euston station, in a video posted on social media. Activists blocked at least 20 vehicle entrances to various sprawling HS2 sites in the counties of Warwickshire, Buckinghamshire and in the Colne Valley west of London, as well as at Euston, organisers said. The protesters said they were observing social distancing measures to curb the spread of the coronavirus pandemic and were wearing protective masks.
HS2 and its critics dispute a wide range of issues, from the potential economic impacts to whether it can help achieve Britain's target to cut carbon emissions to net zero by 2050. Supporters say HS2 would give Britain the kind of fast rail services enjoyed by some European countries and help spread economic opportunities outside the capital. James Brown, a Paralympic gold medallist and environmental activist, described HS2 as a "colossal white elephant." "It must be stopped and we just divert its funds to supporting the NHS," Brown said, referring to the National Health Service.
www.britishherald.com
BRITISH HERALD
UK
Boris Johnson's son named after doctors who 'saved' PM's life
that the baby was due in early summer. Johnson, who was present at the birth, will take a short period of paternity leave later in the year.
Baby In Downing Street Symonds and Johnson have been living together in Downing Street since he became prime minister in July. They announced in February they were expecting their first child and that they were engaged to be married. Once dubbed "Bonking Boris" by Britain's tabloid media, Johnson has had a complicated private life.
B
oris Johnson and his fiancée Carrie Symonds have named their newborn son Wilfred Lawrie Nicholas, partly as a tribute to two of the intensive care doctors who they said had saved the British leader's life as he battled COVID-19 complications. Symonds announced the name on Instagram beside a picture of her and the boy, who already has thick hair resembling the blond thatch of his father. Symonds, 32, said Wilfred, who was born was named after Johnson's grandfather, while Lawrie came from her grandfather. The choice of Nicholas, Symonds said, was a nod to Nick Price and Nick Hart - two doctors who the couple have praised for saving Johnson's life at St Thomas' hospital.
facebook.com/britishherald
He was once sacked from the Conservative Party's policy team while in opposition for lying about an extra-marital affair. He has been divorced twice and refuses to say how many children he has fathered. "I couldn't be happier," Symonds said, adding her thanks to the maternity staff of University College London Hospital. "My heart is full."
In 2013, when Johnson was mayor of London, appeal court judges ruled that the public had the right to know he had an extra-marital affair with a woman who gave birth to his daughter.
Johnson, 55, returned to work after recuperating from COVID-19, which had left him gravely ill in intensive care at the peak of the coronavirus outbreak. He thanked the doctors at St Thomas' hospital whom, he said, had "saved my life, no question".
Johnson's previous marriage was to Marina Wheeler, a lawyer. They had four children together but announced in September 2018 that they had separated. They divorced earlier this year.
"We are honoured and humbled to have been recognised in this way," said Price, director of infection at Guy's and St Thomas' hospital, and Hart, director of respiratory and critical care. "We wish the new family every health and happiness."
David Cameron's wife Samantha gave birth to their daughter, Florence, in 2010, and Tony Blair's wife Cherie gave birth to their son, Leo, in 2006.
Symonds, a former public relations executive, also had symptoms of the virus but recovered more swiftly. She had said in February
Few British leaders have had babies while in office.
Before that, Frances, the wife of John Russell, a 19th-Century Whig and Liberal politician, gave birth to two children in 1848 and 1849 while he was in office.
May-June 2020
27
BRITISH HERALD
BUSINESS
Beiersdorf sells more hand cream, less sunscreen
business, noting that sales had been good in Germany at the end of March due to warm weather, but it was unclear when tourism might rebound. Beiersdorf last year bought U.S. sun care brand Coppertone from Bayer for $550 million(442.16 million pounds) to strengthen its position in North America. Its Nivea Sun is a leading sun care brand in Europe. The CEO said acquisitions were still part of the company's strategy and it would keep an eye out in case the crisis opened up new opportunities. Beiersdorf said sales of medicinal Eucerin and Aquaphor creams rose 11.5% in the quarter and its healthcare unit behind Hansaplast plasters saw growth of 10.1%. Nivea sales dipped just 0.6%, supported by demand for soap, hand wash and hand cream.
N
ivea-maker Beiersdorf La Prairie premium skincare brand and sun care products have been hit by the drop in international travel due to the coronavirus pandemic while sales of hand wash, hand creams and plasters jumped. Beiersdorf already scrapped its 2020 outlook last month due to the pandemic, and released preliminary first-quarter sales that showed a 3.6% fall from a year earlier. Sales of La Prairie dropped 36% in the quarter due to the collapse in global tourism, which also hit its sun care business. A quarter of La Prairie sales are usually made in travel retail, particularly among
28 May-June 2020
Chinese tourists. Beiersdorf shares were down 2.7% at 0925 GMT, and have now fallen 15.6% since the start of this year. Beiersdorf would also see a significant impact from the pandemic in the second quarter, Chief Executive Stefan de Loecker told journalists. Finance chief Dessi Temperley said that the loss of sales of La Prairie - the group's highest margin brand - as well as a rise in sales of lower margin personal care items would also have an impact on profitability. De Loecker said it was too early to say what impact the crisis would have on the sun care
Rival Unilever ditched its sales targets last month but said it expected people would focus more on personal hygiene, driving sales of laundry detergents, hand sanitizers and soap-based products even after the pandemic subsides. Beiersdorf has switched much of its marketing spending online during the crisis, with digital media spending up 43% in the first quarter, helping to drive a 23% rise in ecommerce sales. Beiersdorf's Tesa adhesives business saw sales fall 5.1% in the first quarter, but finance chief Temperley noted that orders had picked up in China towards the end of March as the automobile industry resumed production.
www.britishherald.com
BRITISH HERALD
BUSINESS
It's okay to laugh again
Advertisers prepare for post-coronavirus economy
S
ad piano chords, somber shots of empty streets and closeups of people staring out their windows. So prevalent were coronavirusthemed ads that followed a similar template just a few weeks ago, they were parodied in a YouTube compilation video:
facebook.com/britishherald
"Every COVID-19 Commercial is Exactly the Same." While the ads were meant to convey solidarity with those sacrificing and suffering, advertisers are finally lightening up. Anheuser-Busch's Budweiser
in late April refreshed its funny, landmark 1999 "Whassup" commercial featuring friends "Watching the game, having a Bud," with a new tagline for the coronavirus era, in which reruns of classic contests try to fill the void of no live sports, "Rewatching the game, having a Bud."
May-June 2020 29
BRITISH HERALD In another ad Diageo's Smirnoff poked fun at its own poorly timed big splashy marketing campaign featuring TV stars at outdoor summer parties, telling viewers the country needs them to change their summer plans because "home is where the puzzles are." As the United States prepares to lift shelter-in-place orders and restart businesses, advertisers are shifting marketing messages to reflect a new mood. Somber and empathetic have given way to a more lighthearted approach. "We're making sure we're in tune with the climate of where we are on this curve," Monica Rustgi, vice president of marketing at Budweiser, said in an interview. While it is too early to declare a recovery, marketers in sectors such as banking and technology are preparing for the possibility as early as the second half of the third quarter. Advertising spending usually follows, Michael Roth, chief executive of advertising holding company Interpublic Group of Companies Inc, told Reuters. "The most significant factor is the sector they're in," Roth said, regarding the timing of a rebound for various clients. For airlines, among the hardest hit industries, "it's hard to see them spending a lot in the second half of the third quarter." Clients have been changing their minds almost daily in response to the pandemic, Roth said during IPG's earnings call. Jon Williams, chief executive of The Liberty Guild, a network of advertising and marketing strategists, said he also believes clients will ramp up their
30 May-June 2020
BUSINESS marketing plans toward the end of the third quarter.
hotline number for people who need someone to talk to.
"The clients that we are working for are working towards the end of the summer," he said.
"Something as simple as a hello, or in this case 'whassup,' means a lot in times like today," Rustgi said.
Even if brands have not committed to advertising budgets yet, almost all are thinking ahead to what those future ads should convey. Hardhit brands such as casual dining restaurants are the ones planning the most for the reopening of businesses, said Emma Montgomery, global co-chief strategy officer at creative ad agency TBWA Worldwide, a unit of Omnicom Group.
Travel and hospitality brands, for example, are walking the fine line of urging people to pursue getaways after months at home, but also reassuring them that it will be safe, Marobella said.
"They really need to be fast once (recovery) starts," she said.
A gradual return to normalcy, conveyed through ads that celebrate holidays and milestones will help, Montgomery said.
'Condoms, Charlie' Getting customers jazzed up to return to restaurants and making purchases again will require a different style. Viewers are getting tired of overly heartfelt ads expressing gratitude for front-line workers or detailing how brands are giving back, said Paul Marobella, chief executive of creative ad agency Havas Creative North America. "I can feel the shift in the work we're doing for the rest of the year, shifting from stay home messaging to 'go forth' messaging," he said. Predicting what life will look like after months of self-isolation will be tricky for marketers. Even humorous ads like Budweiser's "Whassup," reboot is underpinned by a message of staying connected through difficult times. It ends by displaying a Salvation Army
Hilton Worldwide said last week it would partner with cleaning brand Lysol and consult with the Mayo Clinic to create a cleaning and disinfecting standard for its hotels worldwide.
"Celebrate Mother's Day together, even if you're apart," a narrator says in a new ad from jewelry line Pandora featuring a son in a video call with his mom as she opens his gift of a silver bracelet. But nothing can convey a change in tone and that the worst is behind us like humor, marketers said. In a commercial for hearing aid company Eargo, which was created by IPG-owned ad agency Huge, a daughter repeatedly whispers a private message to her young husband in the family kitchen that he is just not getting, when her father, wearing his Eargo hearing aids, blurts out, "Condoms, Charlie. She wants to know if you brought any condoms." The company offers free remote hearing checks and consultations, according to the ad.
www.britishherald.com
BRITISH HERALD
BUSINESS
UK watchdog clears Shell's 'drive carbon neutral' ad on petrol pumps
B
ritain's advertising watchdog has ruled Royal Dutch Shell's ad campaign on petrol pumps promising customers they can "drive carbon neutral" is acceptable, following complaints. The Anglo-Dutch oil major said in October it would become the first petrol retailer in Britain to offset the carbon dioxide emissions from customers' fuel purchases at its service stations at no extra cost by backing forestry schemes. The Advertising Standards Authority (ASA) said in March it had launched an investigation into an accompanying advertising campaign after receiving complaints from people who thought it was misleading given the role of oil in climate change.
media and public affairs manager. Wilson said the ASA could not give an estimate for when it would rule on the radio component of the campaign but would aim to reach a conclusion as soon as possible. Like other carbon offsetting schemes, Shell's offer rests on the principle that companies can neutralise the impact of their emissions by paying to support forests or other ecosystems capable of absorbing an equivalent amount of carbon dioxide. Critics of the schemes say they give the false impression that it
is possible to take meaningful action to slow global warming without following the advice of climate scientists to rapidly scale back the use of all fossil fuels. The ASA said it had informally resolved complaints against an advertising campaign by Saudi Aramco after 61 people registered their objections to its use of the word "sustainability" in the context of the oil industry. "We approached the advertiser with the concerns that had been raised. In its response to us, Aramco confirmed that it had withdrawn the campaign," Wilson said.
regulator said that it was still investigating 17 complaints about a radio commercial backing the campaign. However, it added it was satisfied by the claims made in adverts for the "drive carbon neutral" campaign on petrol pumps on garage forecourts, which had prompted eight complaints from members of the public. "Based on the content of the ad and our understanding of the scheme, and the work we have already carried out in this area, we concluded the ad was unlikely to mislead consumers," said Matt Wilson, the ASA's
facebook.com/britishherald
May-June 2020
31
BRITISH HERALD
BUSINESS
Uber, Lyft investors want to hear plans to get riders back in cars want to hear is, 'What is their outlook, and are they seeing any indications of a pickup in activity?'," said King Lip, Chief Investment Strategist at Baker Avenue Asset Management in San Francisco. Demand for app-based rides has dropped sharply as governments around the world ordered people to stay home to combat the spread of the virus, prompting both companies to withdraw their full-year guidance. Data from analysts and interviews with drivers suggest trip requests in some cities were down by as much as 80% in April.
A
s U.S. lockdowns and fears of the coronavirus pandemic stretch into a third month, who wants to take an Uber ride? Not many investors. Shares of Uber dropped 3.4%, while smaller rival Lyft tumbled almost 9%, ahead of both companies' quarterly reports this week. Their stocks have slid 33% and 42%, respectively, since February, more than twice the drop in the S&P 500. Investors are keen for the companies to outline a path out of the crisis as Americans - who provide the bulk of the companies' revenue - consider resuming travel. "It's clear to us that business is going to be terrible. What we
32 May-June 2020
Unlike Uber, which could recover some lost revenue with its food delivery business, Lyft has been squarely focused on transporting people. Uber's quandary is captured in a TV and online ad showing a montage of coronavirus lockdown videos accompanied by the tag line: "Stay home for everyone who can't. Thank you for not riding with Uber." Americans tell pollsters their transportation preferences will change as a result of the crisis, although ride-hailing demand in China, the first country suffering an outbreak, has been recovering since the easing of coronavirus lockdowns. In an April survey by the IBM Institute for Business Value among 25,000 U.S. adults, more than half of the respondents said they would use ride-hailing less or stop completely.
China's Didi Chuxing, an Uber competitor, has taken additional safety measures, paying for the installation of transparent plastic sheets to separate drivers and passengers in ride-hailing vehicles in Beijing. The company said it was also exploring technology to trace infected people. An Uber spokesman confirmed a CNN report that Uber will require riders and drivers to wear face coverings in the United States and other countries. Lyft and Uber recommend face coverings and ask riders to sit in the back seat and open windows during rides. They also ask drivers to regularly disinfect their vehicles, and have supplied limited amounts of sanitizers. Uber's advantage could be in food delivery. "We need to find out whether Uber's food delivery service is as strong as we think," said Jake Dollarhide, Chief Executive of Longbow Asset Management, which owns shares of Uber and Lyft. The average analyst estimate for Uber's March-quarter revenue has fallen by more than $600 million since early February. Analysts on average expect Uber to report March quarter rose 14% to $3.53 billion, and an adjusted loss of 83 cents per share, according to Refinitiv. Lyft is expected to report quarterly revenue up 16% to $898 million, and an adjusted loss of 63 cents per shares. Overall for the first quarter, analysts see Uber losing $1.36 billion and Lyft losing $388 million.
www.britishherald.com
BRITISH HERALD
BUSINESS
Irish COVID-19 jobless payments steady as more join wage subsidy The number of employees signed up to the scheme, which Prime Minister Leo Varadkar said last week would likely be extended beyond June, but potentially in a targeted way, rose to 427,400 from 347,094 a week ago, accounting for 52,000 employers. The state has paid out 785 million euro to date to fund the scheme, an official from Varadkar's department told a news conference.
T
he number of people claiming an emergency coronavirus-related unemployment payment in Ireland rose marginally in the as more workers recited a wage subsidy ahead of the gradual reopening of the economy on May 18, data showed.
Together with recipients of regular jobless benefits, the government is now supporting around half of Ireland's 2.47 million labour force. rate, the employment affairs department said. The unemployment rate, due to be updated next week, does not include workers on the subsidy scheme for impacted companies, where the state agreed in March to pay 70% of wages up to a maximum of 410 euros a week for an initial 12-week period.
Amid an ongoing weeks-long lockdown to stop the spread of COVID-19, Ireland laid out a roadmap for a gradual reopening of the economy that could allow building sites and some retailers to reopen in two weeks, with restaurants following in June, hotels in July and finally pubs in August.
Ireland's unemployment rate more than trebled to 16.5% at the end of March including those receiving the higher emergency payment as a result of losing their job due to the disruption. Analysts estimate the jobless rate hit a record 25% in April. That was due to a doubling of the number of people claiming the COVID-19 Pandemic Unemployment Payment to 598,000 since the end of March, although the total was up from 591,000 a week ago, the second weekly rise at a more moderate
facebook.com/britishherald
May-June 2020 33
BRITISH HERALD
BUSINESS
Wizz Air plans for easing of restrictions with holiday flights from June
L
ow cost airline Wizz Air said it is planning for the easing of travel restrictions by starting new routes from Britain's London Luton airport to holiday destinations in Portugal from 16 June and to Greece from July. European flights have all but come to a standstill during the coronavirus pandemic with government restrictions meaning that only a few services are operating for essential travel such
34 May-June 2020
as people going to work or being repatriated, or for cargo. Wizz Air said that it was announcing the new routes as part of its planning for the easing of restrictions, and said that new rules it had introduced, such as compulsory face masks for passengers and staff, should give customers confidence to fly. It is not yet clear whether traditional summer holiday destinations will be open for business this year.
Flights will depart for Faro, Portugal from 16 June, Wizz said, and for Zakynthos, Heraklion, Corfu and Rhodes in Greece at the beginning of July. Wizz became one of the first European airlines to restart commercial routes from London Luton and Vienna on May 1, carrying people from Bulgaria and Romania amongst other places, which the airline said was for work.
www.britishherald.com
BRITISH HERALD
BUSINESS
SAP discloses security lapses; says there was no data breach extent in the second quarter. "SAP is informing affected customers – approximately 9% of SAP's 440,000 customers and providing full product and customer support," the company said.
B
usiness software group SAP disclosed on that some of its cloud products did not meet contractual or statutory security standards and said it would take remedial action to fix the problem as soon as possible. The shortcomings were not identified in response to a specific security incident, the German company said, nor did it believe that any customer data had been compromised as a result of those issues. While SAP, Europe's most richly valued technology company, declined to elaborate on a statement it issued overnight, the news follows management turmoil and a reduction to its profit forecast due to the coronavirus pandemic. Analysts said it could dampen enthusiasm among SAP's client base to back a digital transformation in which it is seeking to shift the operation of enterprise, human resources and marketing applications to off-site datacentres from its traditional model of putting servers at customer locations. "Events like this don't help SAP's
facebook.com/britishherald
reputation, and both existing and new customers of SAP will likely spend more time digging into SAP's product security now," said Jefferies analyst Julian Serafini. SAP shares fell by 0.4%, underperforming a gain of 1.4% in Germany's 30-share DAX index of blue-chip stocks. SAP, founded by a group of IBM alumni in the 1970s, recently ended its dual leadership structure with co-CEO Jennifer Morgan leaving, bringing an end to the six-month tenure of the first woman to head a top-tier German listed company. American Morgan was responsible for SAP's cloud operations. Christian Klein, a protege of co-founder and Chairman Hasso Plattner, is now sole CEO of the company based in the southwest German town of Walldorf.
Outlook Maintained SAP said it had initiated action to address the shortcomings it has identified in relation to contractually agreed or statutory security standards. This work would be completed to a large
"The expenses related to the remediation are expected to be covered within the range of SAP's current 2020 financial outlook." The products affected range from human resources to travel and expenses management, sales and analytics. Gartner analyst Christian Hestermann estimated that the remedial measures would affect the bulk of SAP's cloud customer base. SAP also named a new top security team, appointing Tim McNight as Chief Security Officer, Richard Puckett as Chief Information Security Officer and John Coovert as Global Head of Physical Security. It has opened a new "Cyber Fusion Center" in Newtown Square, PA, as a hub for its global security operations. The company denied that the security measures were taken in response to a specific hacking incident. Asked specifically whether there was any link to the exploits of a group of suspected Chinese cyber-spies known as "Cloud Hopper" that penetrated the IT systems of several large companies, a spokeswoman said: "None whatsoever."
May-June 2020 35
BRITISH HERALD
BUSINESS
Ocado investor Royal London to oppose CEO's $73 million payout
plans. Ocado had no immediate comment. RLAM's intervention follows that of shareholder advisory group Institutional Shareholder Services (ISS) which recommended investors vote against the pay report and against the re-election of Andrew Harrison, the director who chairs the remuneration committee. Ocado's share price ended 2017 at 384 pence and closed at 1,688 pence, giving it a market capitalisation of 11.9 billion pounds. That is more than the combined market values of Sainsbury's, Britain's No. 2 supermarket group by sales, and Morrisons, the No. 4 player.
O
cado investor Royal London Asset Management said it will vote against the online grocer's pay report at annual meeting, calling CEO Tim Steiner's 58.7 million pound reward "excessive". The total remuneration package for Steiner, who co-founded Ocado in 2000, included a 54.1 million pound bonus award linked to the group's share price growth for the five years from 2014. In total the "Growth Incentive Plan" paid out 87.5 million pounds to Ocado's executive directors, including 13.5 million pounds each to chief financial officer Duncan Tatton-Brown and chief operations officer
36 May-June 2020
Mark Richardson, and 6.4 million pounds to Luke Jensen, CEO of Ocado Solutions. "Ocado’s latest pay report is a classic example of how poorly designed incentive plans can lead to excessive awards for management," Ashley Hamilton Claxton, head of responsible investment at Royal London Asset Management (RLAM), which holds a 0.3% stake in Ocado, said. He said RLAM recognised the significant returns for shareholders which Ocado had delivered since the end of 2017, but was concerned its remuneration committee did not apply any discretion, particularly as the scheme ran alongside Ocado’s regular variable pay
Ocado's share price has been driven by its state-of-the-art robotic technology which has enabled it to win partnership deals with supermarket groups around the world, including Kroger in the United States, Casino in France and in Japan. Steiner also owns 4.2% of Ocado's equity, according to Refinitiv data. Due to the coronavirus the annual shareholders' meeting, cannot be attended by investors, who had to vote by proxy. Ocado is due to publish a trading update ahead of the meeting. It has traded strongly through the crisis as Britons have sought deliveries to avoid venturing out to supermarkets, and having to queue, during the lockdown. Ocado shares were up 1.9% at 1115 GMT.
www.britishherald.com
BRITISH HERALD
BUSINESS
Shopify posts surprise adjusted profit as lockdowns drive merchants online businesses online. Online retailers have seen higherthan-usual demand during the coronavirus outbreak as governments around the world order people to stay indoors in an effort to contain the spread of the disease. Gross merchandise volume (GMV), a metric used in the e-commerce sector to measure transaction volumes, surged 46% to $17.4 billion in the quarter, beating estimates of $16.58 billion, according to IBES data from Refinitiv. Ottawa-based Shopify posted a net loss of $31.4 million, or 27 cents per share, for the quarter ended March 31, compared with $24.2 million, or 22 cents per share, a year earlier.
C
anadian e-commerce company Shopify Inc posted a surprise adjusted profit for the first quarter and beat revenue estimates as more users visited its platform after lockdowns led merchants to move their
Excluding items, it earned 19 cents per share, while analysts expected it post a loss of 18 cents. Total revenue rose 46.6% to $470 million, ahead of analysts' estimates of $442.9 million.
Airbnb cuts 1,900 jobs as coronavirus hits home rentals States will get 14 weeks of base pay plus one additional week for every year at Airbnb, the company said. With millions of tourists canceling plans for vacations, work trips and family visits, Airbnb earlier this year said it was allocating $250 million (201 million pounds) to help offset losses incurred by hosts.
A
irbnb Inc is laying off 25% of its workforce, or nearly 1,900 employees, the home rental startup said, as the COVID-19 pandemic brings global travel to a near standstill. "Airbnb's business has been hit hard, with revenue this year forecasted to be less than half of what we earned in 2019," founder Brian Chesky said in a memo to employees. The laid off employees in the United
facebook.com/britishherald
In late March, it suspended its marketing activities to save $800 million in 2020 and informed workers that its founders will take no salary for the next six months while top executives would take a 50% cut. Airbnb said private equity firms Silver Lake and Sixth Street Partners would invest $1 billion in the startup, raising its cash reserves to around $4 billion. The fund would be used to attract more hosts or homeowners who list their properties for rent on its platform, Airbnb had said.
May-June 2020
37
BRITISH HERALD
BUSINESS
France's Total keeps dividend steady in 'exceptional circumstances' It said it was taking extra measures to protect its balance sheet and maintain a breakeven point below $25 per barrel in 2020. Global oil prices were close to $30 a barrel, recovering from a deep slide in April that took prices to more than 20-year lows. "The group is facing exceptional circumstances: the COVID-19 health crisis, which is affecting the world economy and creating major uncertainties, and the oil market crisis, with the sharp drop in oil prices since March," Chairman and CEO Patrick Pouyanne said in a statement.
F
rench energy major Total promised to pay a steady cash dividend and said it can break even with low oil prices after the impact of the coronavirus outbreak and a collapse in fuel demand led to a 35% first-quarter profit fall.
It also raised its climate ambitions, saying it aims to reach net zero emissions from its operations and its energy products sold to customers by 2050 at the latest, but only in Europe. For oil majors, the crisis caused by the novel coronavirus compounds a climate crisis that has deterred some investors from investing in planet-warming fossil fuels. Maintaining dividends is one way to lure shareholders and Total's shares rose 7.5% in opening trade, outperforming the Paris CAC 40, which gained 0.8%. By 1030 GMT, Total was still 5.9% higher.
Total said CEO Pouyanne's remuneration for the year would be cut by around 30% compared with 2019, and other executives and board members would also earn less. Total had planned to accelerate its dividend growth in the coming years, with a guidance of increasing the dividend by 5% to 6% per year. It did not give guidance on any full-year payout. While tackling short-term challenges through focused investment and cost-cutting, Pouyanne said the company would not neglect the longer term and an aim to become "a broad-energy company," with net zero emissions by 2050 in Europe. Previously, Total had planned to reduce its global
Dividends, however, rely on cash, meaning some peers have halted payouts. Royal Dutch Shell last week said it was cutting its dividend for the first time since World War II to preserve cash. Total said it was keeping its first-quarter interim dividend stable at 0.66 euros ($0.7199) per share, helped by a low debt-to-capital ratio or gearing, and that is would be paid entirely in cash.
38 May-June 2020
www.britishherald.com
BRITISH HERALD
BUSINESS run rate of the second half of 2019," Redburn said. It said Total in theory still had the option of a scrip dividend, or substituting shares for cash, at a later stage. Total said that as oil prices fell by more than 30% on average in the quarter, its cash flow shrank by 31% year-on-year to $4.5 billion.
emissions by 15% by 2030, and by 40% by 2040.
$1.3 billion, the mean estimate of 4 analysts, based on Refinitiv data, found.
Mixed Messages?
Equity research analysts at Jefferies said Total was being cautious on shareholder returns but not overreacting, while Redburn analysts, said in a note the results sent mixed messages.
Although the company's net adjusted profit fell 35% to $1.78 billion(1.43 billion pounds) , it beat analysts' forecasts. The market had expected Total's net income for the quarter to be
"The Q1 2020 dividend was set at 0.66 euros, flat year-on-year but a 3% cut compared with the
Although its oil and gas output rose by 5% to more than 3 million barrels of oil equivalent per day (mboepd) in the quarter, production for the year is expected to fall by at least 5% to between 2.95 mboepd and 3 mboepd, it said. In response to lockdown demand destruction, Total announced an action plan on March 23 to cut its planned investments for 2020 by more than 20% to $15 billion. The company said it will reduce its investments further to $14 billion in 2020, while increasing cost savings to more than $1 billion.
Total targets net zero emissions in Europe by 2050
F
Total said it planned to achieve the targets by aiming for net zero emissions across its global operations by 2050. It will also aim for a net zero emission on all its production and energy products used by its customers in Europe, the so-called scope 3 emissions, by 2050 or before.
"Energy markets are changing, driven by climate change, technology and societal expectations. Total is committed to helping solve the dual challenge of providing more energy with fewer emissions," Chairman and Chief Executive Officer Patrick Pouyanne said in a statement.
Credit Suisse said in a note that Total's targets were competitive compared with its peers, but were not leading.
rench energy major Total said it planned to cut its carbon emissions, with the aim of reaching net zero emissions from its operations and its energy products sold to customers in Europe by 2050 or sooner.
The company is the latest oil and gas major to announce more ambitious targets to reduce its carbon footprint as firms come under pressure from society and investors to do more to cut carbon emissions blamed for global warming.
facebook.com/britishherald
Europe-headquartered rivals such as BP or Royal Dutch Shell have similar targets covering emissions from products such as diesel or gasoline, but apply them to their global business. For a Factbox comparing Big Oil's climate targets, click on
May-June 2020 39
BRITISH HERALD
BUSINESS
Thomson Reuters cuts sales outlook, narrowly misses earnings
purchases would be considered "bolt-ons" to existing businesses and not in new sectors.
Refinitiv Sale The coronavirus pandemic has brought major economies to a halt, pushed millions into unemployment as businesses shutter, and emptied trading floors around the world as companies scrambled to slow its spread among their workers. Many of Thomson Reuters' own 24,000 employees have been working remotely during the outbreak.
T
homson Reuters reported higher quarterly sales and operating profit that fell slightly short of Wall Street estimates, while cutting its full-year sales outlook due to disruption to the global economy from the coronavirus crisis.
Thomson Reuters forecast 1%-2% total revenue growth this year, below its February estimate of 4.5%-5.5%, saying its business of selling information and software solutions electronically and on a subscription basis was not immune to the recent global economic downturn.
The company, controlled by Canada's Thomson family, said it was targeting a $100 million (80.39 million pounds)cost reduction program and noted it has no debt due until 2023. It said it has enough liquidity for the next 12 months and does not expect to change its dividend.
"We don't plan any layoffs at this point in time," Steve Hasker, Chief Executive of Thomson Reuters, said in an interview. "We are focused on investing in our business."
The news and information provider, parent of Reuters News, reported a 2% rise in first quarter revenue to $1.52 billion, helped by gains in its legal and corporates businesses, and said operating profit rose 6% to $290 million. Adjusted earnings of 48 cents a share were 1 cent below Wall Street expectations, according to Refinitiv.
40 May-June 2020
Michael Eastwood, Chief Financial Officer of Thomson Reuters, said the company would continue to seek buyout opportunities as part of a $2 billion acquisitions budget. Executives said they would take a "methodical" approach to evaluating potential targets that may come up at the end of this year or early next year. The company has spent $1.3 billion through the beginning of the year and Hasker said any
Reuters News revenues were flat at $155 million, while organic revenues fell 4% due to COVID-19 related cancellations of events in the Reuters Events business, the company said. Thomson Reuters, whose executives have said that they were aiming to cut discretionary expenses, also expects the sale of data company Refinitiv to close in the second half of the year. The London Stock Exchange said last month it was committed to completing its $27-billion takeover of Refinitiv, in which Thomson Reuters has a 45% stake, in the second half of 2020, with no plans to revise its savings targets as a deep recession looms. Thomson Reuters in February appointed former Nielsen president Hasker as its new CEO, succeeding Jim Smith. Smith, a former journalist who oversaw a period of major change at the company, will stay on for a transition period and become chairman of the Thomson Reuters Foundation.
www.britishherald.com
BRITISH HERALD
FINANCE
EU regulator under fire over bank rescue fund levy in pandemic
the SRB could have suspended contributions this year to avoid banks cutting lending. Strict application of SRB rules could mean new credit for relieving the pandemic ending up in contributions to the fund, Donato said. Koenig said legislative changes would have been needed to offer relief on contributions and would have put a heavier burden on banks next year. Banks have begun making huge provisions for expected losses on loans as a deep recession beckons but so far the sector has remained resilient, Koenig said. As a last resort, the SRB can allow public funding for injecting "precautionary capital" into a lender that is temporarily struggling.
B
anks in the European Union could end up paying annual contributions to an industry rescue funds by tapping government support for coronavirus-hit companies, lawmakers. The Single Resolution Board (SRB) ensures that banks in the euro zone have enough funds to avoid taxpayer bailouts if they collapse.
European Parliament's economic affairs committee after saying there would be no relief on annual contributions despite banks lobbying for relief during the pandemic. The SRB board has decided that 9.1 billion euros (7.92 billion pounds)would be collected from 3,066 banks this year to bring the fund's total to 42 billion euros, she said. The final target is 60 billion euros by the end of 2023.
Banks are required to issue MREL, a form of debt that can be "bailed in" or written down to replenish burnt out capital, and contribute to a fund for shielding taxpayers in a crisis.
Banks are central to distributing government-backed credit and other relief measures to keep companies and households afloat in the pandemic.
SRB Chair Elke Koenig came under fire from lawmakers in the
Francesca Donato, an Italian member of the committee, said
facebook.com/britishherald
"Precautionary recapitalisation is valid tool but it cannot and should not be turned into a bail out in disguise," Koenig told lawmakers. She was asked if the SRB could cope with two major banks like Deutsche Bank and a big Italian bank failing at the same time. "I think are we ready to deal with one or more major banks failing. I can only answer yes," she replied. Major banks have built up resilience through their MREL buffers, but there is still no European deposit insurance scheme or credible solution for liquidity when banks are shuttered, she said. "Looking at the unprecedented measures taken so far, if we come to this problem, we also find a solution for this... I think we will get there."
May-June 2020
41
BRITISH HERALD
Oil spurt lifts stocks out of three-day losing streak
FINANCE 600 initially rose nearly 2% as a more than 6% jump in Brent prices [O/R] and news that Total wasn't cutting its dividend gave a 5% boost to battered oil stocks. Things then started to get choppy again though when Germany's top court ruled that the European Central Bank's quantitative-easing programme "partially violated" the country's constitution. The euro and the region's government debt fell, too, although the court also said the ECB's measures didn't amount to monetary financing - where a central bank bankrolls the government - something banned in Germany. The ruling also didn't apply to the bank's new coronavirus PEPP support programme. "In practice, this should not restrict the ECB too much," said Holger Schmiedling, chief economist at Berenberg. "However, Karlsruhe (German court) has emphasized that there are limits to bond
S
tock markets snapped a three-day losing streak and oil was on its longest run of gains in nine months as moves to ease major economies out of their coronavirus lockdowns lifted sentiment. It was a turnaround from, when bickering between Washington and Beijing triggered fresh selling, but traders have become used to sudden changes of direction in recent months and there were more to handle in Europe, too. The pan-European STOXX
42 May-June 2020
www.britishherald.com
BRITISH HERALD
FINANCE
LIFT OFF With countries including the United States, Germany, France, Spain, Italy, Nigeria, India, and Malaysia all tentatively easing lockdowns, the hope for oil producers is that the worst of the demand slump is now over. Brent crude rose 7.8% to $29.32 a barrel, up for a sixth straight day, and U.S. crude rose 10% to $22.43 a barrel for its fifth consecutive rise. Energy giants Exxon Mobil and Chevron were also leading gains in premarket Wall Street trading where first quarter earnings reports were still rolling in and ISM's nonmanufacturing data was due later. Analysts at Commonwealth Bank of Australia said the structure of the oil price rises, with bigger gains in nearer-dated contracts, suggested expectations of more production cuts and a restoration of fuel demand later this year. They added, though, that this meant prices were unlikely to recover their huge declines since the start of the year. purchases. This could make it more difficult for the ECB to expand PEPP." In addition to the German court angst, euro zone producer prices fell the most in March since the 2008 financial crisis, Eurostat data showed. The drop was more than expected as the COVID-19 pandemic reduced demand for energy. Prices at factory gates in the 19 countries sharing the euro fell 1.5% month-on-month in
facebook.com/britishherald
March and 2.8% year-on-year. The euro traded down 0.65% at $1.0835, and a sell-off in bond markets pushed Italy's ultra ECBsensitive government yields up past 1.90% again. That meant the U.S. dollar index pushed higher for a second consecutive day, though the jump in oil meant the big petrocurrencies like Canada's dollar, Norway's crown and Russia's rouble were all stronger. [/FRX
"From a very top-down perspective, markets are reacting positively to measures governments and central banks have taken," said Alistair Wittet, a European equity portfolio manager at Comgest. "But we are still to see what the full economic consequences of all this will be... the real test will be when the markets start opening up and governments and central banks start withdrawing."
May-June 2020 43
BRITISH HERALD
FINANCE
World shares subdued amid weak data; oil resumes gains
Germany and Spain are among economies gradually emerging from lockdowns, but the outlook for an easing of restrictions elsewhere is less certain. In a reminder of the economic damage from the lockdown, euro zone business activity almost ground to a halt last month, IHS Markit's final Composite Purchasing Managers' Index showed. The European Commission forecast the euro zone economy will contract by a record 7.7% this year, while the inflation rate will slow to 0.2%, but public debt and budget deficits will balloon. Wall Street futures were positive, with E-minis for the S&P500 up 0.8%. MSCI's broadest index of Asia Pacific shares outside of Japan climbed 0.6%. Volumes were light with Japanese markets closed for a holiday.
G
lobal shares struggled as weak economic data, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast a pall over markets.
Shares in UniCredit recovered from earlier falls to trade 0.9% higher. Italy's biggest bank reported a 2.7 billion-euro loss in the first quarter amid loan writedowns in anticipation of the damage caused by the pandemic.
Oil prices extended their run of gains, supported by expectations that demand will recover and by a record supply cut from OPEC and other producers.
"Earnings season is not great, but it's really the issue of the virus and the end of the lockdown, and sentiment towards that will push the market," said Francois Savary, chief investment officer at Swiss wealth manager Prime Partners.
MSCI's index of global shares was trading 0.1% up. The panEuropean STOXX 600 was 0.3% higher, helped by gains in healthcare stocks on the back of better-than-expected quarterly results from Denmark's Novo Nordisk and German dialysis specialist Fresenius Medical Care.
44 May-June 2020
"We think there'll be a consolidation for the equity market. It won't take us back to the lows we saw in March, but markets are waiting for a clearer outlook on how the lockdown will end."
China, opening for the first time since, reversed early losses, sending its blue-chip index up 0.6%. In a move seen by analysts as offering a olive branch to Washington amid the trade tensions, China's central bank set the yuan at a broadly neutral midpoint. The exchange rate has been a contentious point in China-U.S. ties. "The People's Bank of China went a long way to extinguishing one major trade war hotspot by setting the yuan reference rate on a more risk-friendly level," said Stephen Innes, chief markets strategist at AxiCorp. "USD/CNH dropped about 200 pips on the stable fix, and a recovery in risk sentiment ensued, and there was no follow-
www.britishherald.com
BRITISH HERALD
FINANCE
UK wants to 'slowly and cautiously' ease lockdown to restart economy
through on U.S. President Trump's threat to China." President Donald Trump has repeatedly taken aim at China as the source of the pandemic and warned that it would be held to account., he urged China to be transparent about the origins of the coronavirus, which began in the Chinese city of Wuhan late last year. On Wall Street overnight, the S&P 500 pared earlier gains after U.S. Federal Reserve Vice Chair Richard Clarida warned that economic data would get worse before it got better.
Euro Fall In currencies, the euro resumed its fall, declining to a near two-week low of $1.0786. The currency was still under pressure after Germany's top court ruled that the European Central Bank's quantitative-easing programme "partially violated" the German constitution. The yen rose 0.2% to 106.35, having earlier reached 106.20, its strongest since March 17. The ADP National Employment Report of private U.S. payrolls could give an early warning of the damage expected to be revealed
facebook.com/britishherald
in the U.S. government's measure of jobs in April. It is expected to show nearly 22 million jobs were lost last month. German borrowing costs rose before the country's first syndicated bond sale in half a decade. Germany's benchmark 10-year yields rose two basis points to -0.55%, though they remain close to seven-week lows. In commodities, U.S. crude futures rose 88 cents to $25.44 a barrel. Brent crude was up 79 cents to $31.76, having risen in the past six sessions. The market is anticipating that demand will recover and that a record supply cut led by the Organization of the Petroleum Exporting Countries will support prices. Analysts said the rebalancing of the market would be choppy. "We're talking about normalisation of supply and demand but we've got a long way to go," said Lachlan Shaw, National Australia Bank's head of commodity strategy. "There are a lot of supply cuts that have come through. That combined with some early signs of demand lifting has meant the rate of inventory build is slowing." Spot gold eased 0.1% to $1,704 an ounce.
T
he British government wants to slowly and cautiously restart the economy, housing minister Robert Jenrick said ahead of a televised address from the prime minister to set out plans to begin easing the coronavirus lockdown measures.
It has been nearly seven weeks since Boris Johnson asked Britons to stay at home to help prevent the spread of the virus, all but shutting down the economy. "The message ... of staying at home now does need to be updated, we need to have a broader message because we want to slowly and cautiously restart the economy and the country," Jenrick told Sky News. Jenrick said the easing of the lockdown would be conditional on keeping the spread of the virus under control, and if the rate of infection begins to increase in some areas, more stringent measures could be re-introduced.
May-June 2020 45
BRITISH HERALD
FINANCE
Britain borrows 3.25 billion pounds of almost-free money auction and yields touched their lowest since March 9 at 0.082%, down 1 basis point on the day. A later sale of benchmark eightyear government bonds also drew solid demand. Investors bid for two-and-a-half times the 3 billion pounds on offer of the 1.625% 2028 gilt, which sold at an average yield of 0.112%. The BoE is due to give an update on its gilt purchase plans and the broader, bleak prospects for Britain's economy at 0600 GMT.
B
ritain sold 3.25 billion pounds of five-year government bonds at a record-low yield of less than 0.02% raising the prospect that markets could soon pay Britain's government to borrow money. Unlike in Japan, Germany and some other parts of Europe, British government bond yields have never traded for a prolonged period with a yield below zero. But in March the Bank of England cut its main interest rate to a record low 0.1%, and announced a record 200 billion pounds in extra bond purchases that has kept a firm lid on bond yields and government borrowing costs.
46 May-June 2020
At the current record pace of 13.5 billion pounds a week, the BoE is due to have completed its gilt purchases by mid-July. Since then Britain has massively stepped up its borrowing plans to fund government efforts to lessen the impact of the coronavirus, but its cost of borrowing has fallen, not risen. At the first of two bond auctions investors bid for 2.88 times the 3.25 billion pounds on offer of the 2% 2025 gilt. The average successful bidder will receive an annual return of just 0.017% - an all-time low for a conventional British government bond auction. If the yield at an auction falls below zero, investors will receive less than they paid for the bond if they hold it through to maturity and the government repays less than it borrows. Benchmark five-year government bond prices rallied after the
Most economists polled by Reuters do not expect it to announce more yet, but those at Bank of America said there was a case for the BoE to slow the pace of purchases but commit to an open-ended amount. "It could achieve the same result - gilt yields pinned to the floor - with lower purchases," Bank of America's Robert Wood and Mark Capleton wrote in a note to clients. Alternatively, the BoE might just announce an extra 50-75 billion pounds of quantitative easing to cover purchases at the current pace until August, when the outlook may be clearer and the BoE is due to make its next quarterly forecast, they said.
www.britishherald.com
BRITISH HERALD
HEALTH
UK sent coronavirus tests to United States for processing
B
ritain had to send coronavirus tests to the United States to be processed after a problem at one of its laboratories, housing minister Robert Jenrick said. The Telegraph newspaper reported 50,000 test samples were sent on chartered flights to the United States last week. Asked about the report during an interview on Sky News, Jenrick said: "There was an issue with one of the labs and we put in place our contingency plan, which was to take some of the tests to the United States for the tests to be processed." "That was exactly in line with the detailed plans the Department for
Health had made in advance," he added. After being criticised for moving too slowly on mass testing compared to some countries such as Germany, Britain has ramped up its testing programme, but since hitting its target of 100,000 a day at the end of April has struggled to maintain that level. The latest figures from the Department of Health show there have been been 1,728,443 tests in total, including 96,878 on May 8. The Department puts the number of confirmed new coronavirus
cases in Britain so far at 215,260 and the number of fatalities at 31,587. That is the world's second highest death toll after the United States, whose population is nearly five times bigger.
Scientist advising the government on coronavirus steps down after lockdown breach
A
The model showed that under a reasonable worst-case scenario as many as 500,000 people could die. It contributed to the decision to impose the most far-reaching restrictions on daily life in Britain's peacetime history to stop the spread of the virus.
British scientist advising the government on its coronavirus response resigned from his role, after the Daily Telegraph reported he had broken lockdown rules by meeting a female friend. Epidemiologist Neil Ferguson, a professor at Imperial College in London, said he was standing down from the Scientific Advisory Group for Emergencies (SAGE) which plays a key role in shaping government policy. The Telegraph said he had been visited by a 38-year old woman on two occasions. This would breach rules which say citizens must only leave their homes to shop for food, for exercise or medical needs, or if they cannot work from home.
facebook.com/britishherald
“I accept I made an error of judgement and took the wrong course of action. I have therefore stepped back from my involvement in SAGE," Ferguson said in a statement. Ferguson's academic team produced modelling on the likely spread of the virus which has been repeatedly cited by ministers, and is seen as a turning point in their response to the COVID-19 outbreak.
"I acted in the belief that I was immune, having tested positive for coronavirus and completely isolated myself for almost two weeks after developing symptoms," Ferguson's statement said. "I deeply regret any undermining of the clear messages around the continued need for social distancing to control this devastating epidemic. The government guidance is unequivocal, and is there to protect all of us."
May-June 2020
47
BRITISH HERALD
HEALTH
Ramping up COVID-19 testing earlier would have helped the UK, top advisers say
to maintain its early programme of tracing contacts of those who had tested positive. However she said that approach would only have worked if it had been met with enough resources to track and trace those who could have been exposed to the virus.
R
amping up COVID-19 testing earlier would have helped the United Kingdom by allowing it to trace the contacts of those infected with the novel coronavirus, the government's top scientific advisers told a parliamentary committee. The United Kingdom has overtaken Italy to report the highest official death toll from coronavirus in Europe with more than 32,000 deaths, figures released showed. Chief Scientific Adviser Patrick Vallance told parliament's Health and Social Care Committee he was sure that on reflection there would be things that could have been done differently. "In the early phases, I think if we'd managed to ramp testing
48 May-June 2020
capacity quicker it would have been beneficial," said Vallance, GlaxoSmithKline's former president of research and development. "For all sorts of reasons that didn't happen," said Vallance. "It's completely wrong to think of testing as the answer - it's just part of the system that you need to get right." The British government has stepped up testing over the past month, with 945,299 people tested so far, though opposition parties say Prime Minister Boris Johnson was too slow to accelerate the scheme. Jenny Harries, the deputy chief medical officer, told the same parliamentary hearing that unlimited testing capacity would have allowed the government
"If we had unlimited capacity, and the ongoing support beyond that, then perhaps we would choose a slightly different approach, but with the resources that we had," she said. Weekly figures from Britain's Office for National Statistics (ONS) added more than 7,000 deaths in England and Wales, raising the total for the United Kingdom to 32,313 as of April 24. Both advisers cautioned that it was difficult to make international comparisons on death rates at this stage of the pandemic. But Vallance said it was no surprise that London and New York had been badly hit. "I don't think it's chance that two huge cosmopolitan wellconnected cities with multiple imports from all over the world New York and London - got very hard hit."
www.britishherald.com
BRITISH HERALD
HEALTH
WHO urges countries to investigate early COVID-19 cases
A French hospital which has retested old samples from pneumonia patients discovered that it treated a man who had COVID-19 as early as Dec. 27, nearly a month before the French government confirmed its first cases. Lindmeier encouraged other countries to check records for pneumonia cases of unspecified origin in late 2019, saying this would give the world a "new and clearer picture" of the outbreak. Asked about the origins of the virus in China, Lindmeier stressed that it was "really, really important" to explore this. U.S. Secretary of State Mike Pompeo alleges his country has "evidence" that the new coronavirus emerged from a laboratory in Wuhan, China, although scientists have advised the WHO that it is of animal origin.
T
he World Health Organization said that a report that COVID-19 had emerged in December in France, sooner than previously thought, was "not surprising", and urged countries to investigate any other early suspicious cases.
"That may need further missions or a mission (to China) so we are looking forward to this," Lindmeier said. "The findings help to better understand the potential virus circulation of COVID-19," he added, saying other possible earlier cases could emerge after retesting samples.
WHO's top emergencies expert Dr. Mike Ryan said that the body's chief had raised the issue of the origins of the virus "at the highest level" during a WHO mission to China in January.
The disease later identified as COVID-19 was first reported by Chinese authorities to the WHO on 31 December and was not previously believed to have spread to Europe until January. "This gives a whole new picture on everything," WHO spokesman Christian Lindmeier told a U.N. briefing in Geneva, referring to the French reports.
facebook.com/britishherald
May-June 2020 49
BRITISH HERALD
HEALTH
WHO readies coronavirus app for checking symptoms, possibly contact tracing
The team also is considering what the WHO refers to as proximity tracing. Engineers have done preliminary work and talked to smartphone operating system makers Apple Inc and Google about possibly adopting technology the companies plan to release jointly this month to make tracing easier. The technology relies on virtual "handshakes" between phones that come within a few feet of each other for at least five minutes. Phones keep anonymized logs of such encounters, allowing someone who later tests positive to anonymously send notifications to recent contacts about their possible exposure to the virus.
T
he World Health Organization (WHO) plans to launch an app this month to enable people in under-resourced countries to assess whether they may have the novel coronavirus, and is considering a Bluetooth-based contact tracing feature too, an official told Reuters.
The app will ask people about their symptoms and offer guidance on whether they may have COVID-19, the potentially lethal illness caused by the coronavirus, said Bernardo Mariano, chief information officer for the WHO. Other information, such as how to get tested, will be personalized according to the user's country. Though the WHO will release a version on app stores globally, any government will be able to take the app's underlying technology, add features and release its own version on app stores, Mariano said in a phone interview. India, Australia and the United Kingdom already have released official virus apps using their own technology, with common features including telling people whether to get tested based on their symptoms and logging people's movements to enable more efficient contact tracing. Several countries are ramping up
50 May-June 2020
contact tracing, or the process of finding, testing and isolating individuals who crossed paths with an infectious individual. It is seen as vital to safely opening economies, and apps that automate parts of the process could accelerate efforts. The WHO expects its app to draw interest in other countries, including some in South America and Africa where case numbers are rising. They may lack the technology and engineers to develop apps or be struggling to offer testing and education. "The value is really for countries that do not have anything," Mariano said. "We would be leaving behind the ones that are not able to (provide an app), that have fragile health systems." Engineers and designers, including some who previously worked at Alphabet Inc's Google and Microsoft Corp, have been volunteering for weeks to develop the new app with about five of them overseeing the process. They are designing it open-source on the hosting service GitHub, meaning code is open to public input. Several team members declined to comment. Mariano said he wants to include additional tools beyond the symptom checker, including a self-help guide for mental health care.
But Mariano said legal and privacy considerations have prevented the WHO from committing to such a feature yet. He expressed concern about the many businesses pitching proximity tools turning around and using any personal data they gather to generate revenue later. "We want to make sure we ring-fence all the risks around it," he said. Apple and Google have said their system will not use any data for other purposes and will be stopped when the pandemic ends. The WHO plans to release guidance as soon as next week on issues countries should consider as they weigh their own proximity tracing apps. To reach people with limited internet access, the WHO is working to deliver information via text messages. In March, it launched an account on Facebook Inc's WhatsApp to provide users with information about the coronavirus, and it partnered with the company's Free Basics program to make some information available without users incurring data charges. The WHO also plans to release an app next week to inform health workers globally about best practices for donning protective gear, washing hands and treating the virus. The organization already has a general app, WHO Info, that largely mirrors its website.
www.britishherald.com
BRITISH HERALD
HEALTH
Austria says reopening shops has not accelerated coronavirus infections
that is a really very, very positive, good situation," he said. The daily increase in infections, he added, is 0.2%. Current data do not reflect the impact of a more recent loosening from May 1 when hairdressers, other service providers and shops of more than 400 square metres were allowed to reopen. More steps are planned, with restaurants, bars, museums and hotels to follow. Anschober and Interior Minister Karl Nehammer urged the public to keep implementing social-distancing rules and heed a requirement to wear face masks or a fabric equivalent in shops, on public transport and in some government buildings. "Personal responsibility and discipline remain the most important thing because a possible second wave (of infections) must not become a tsunami," Nehammer said.
A
ustria's first loosening of its coronavirus lockdown three weeks ago, in which thousands of shops reopened, has not led to a new spike in infections, though further vigilance is necessary, its health minister said. The Alpine republic acted early to tackle the viral pandemic, closing bars, restaurants, schools, theatres, non-essential shops and other gathering places seven weeks ago. That helped cut the daily increase in infections to less than 1% and keep deaths relatively low - with just 606 reported so far.
facebook.com/britishherald
Buoyed by those numbers, on April 14 Austria became one of the first countries in Europe to loosen its lockdown, reopening DIY and garden centres as well as shops of up to 400 square metres - twice the playing area of a singles tennis court. "We can now examine and assess the effects of April 14 and the following days very, very well and they show that we managed this first opening step excellently," Health Minister Rudolf Anschober told a news conference. "We have no indication of a noticeable increase in individual areas. The situation is very, very constant, very, very stable and
Illustrating the uncertainty around the pandemic's development, Finance Minister Gernot Bluemel said it would probably not be possible to assess the impact on the economy until autumn. He is in the process of getting his stopgap budget approved by parliament. "Currently only one thing is clear: that nothing is clear and the situation must be reassessed daily. And no matter what numbers a budget is currently based on, they will not hold," Bluemel said in a statement. He urged lawmakers to approve his already outdated budget to keep ministries properly funded.
May-June 2020
51
BRITISH HERALD
HEALTH
Over 90,000 health workers infected with COVID-19 worldwide nurses group
A
t least 90,000 health-care workers worldwide are believed to have been infected with COVID-19, and possibly twice that, amid reports of continuing shortages of protective equipment, the International Council of Nurses (ICN) said.
52 May-June 2020
The disease has killed more than 260 nurses, it said in a statement, urging authorities to keep more accurate records to help prevent the virus from spreading among staff and patients. The Geneva-based association said a month ago that 100 nurses had died in the pandemic
sparked by a novel coronavirus that emerged in the central Chinese city of Wuhan late last year. "The figure for health care workers infections has risen from 23,000 to we think more than 90,000, but that is still an under-estimation because it
www.britishherald.com
BRITISH HERALD
is not (covering) every country in the world," Howard Catton, ICN's chief executive officer, told Reuters Television in its lakeside offices. The 90,000 estimate is based on information collected on 30 countries from national nursing associations, government figures and media reports. The ICN represents 130 national associations and more than 20 million registered nurses. Catton, noting that 3.5 million cases of COVID-19 have been reported worldwide, said: "If the average health worker infection rate, about 6 percent we think, is applied to that, the figure globally could be more than 200,000
facebook.com/britishherald
HEALTH
The disease has killed more than 260 nurses.
(WHO), which is coordinating the global response to the pandemic, says that its 194 member states are not providing comprehensive figures on health worker infections as they grapple with the unprecedented crisis.
health worker infections today.
The WHO last said on April 11 that some 22,000 health workers were thought to have been infected.
"The scandal is that governments are not systematically collecting and reporting on this information. It looks to us as though they are turning a blind eye which we think is completely unacceptable and will cost more lives," Catton, a Briton, added. The World Health Organization
The ICN said it now believes those "shocking" figures to significantly underestimate the reality. "This failure to record both infection rates and deaths among healthcare workers is putting more nurses and their patients in danger," the statement said.
May-June 2020 53
BRITISH HERALD
Robots on hand to greet Japanese coronavirus patients in hotels
HEALTH Other messages include "I pray the spread of the disease is contained as soon as possible" and "Let's join our hearts and get through this together." Pepper is not the only robot at work in the hotel in the Ryogoku area of Tokyo. A cleaning robot with the latest in Artifial Intelligence has been deployed to clean several parts of the hotel, including riskier "red zone" areas where staff access is limited. In an effort to reduce the burden on the medical system, Japan has secured more than 10,000 hotel rooms around the nation to put up patients with lighter symptoms, according to the Health Ministry. The Ryogoku hotel, where patients will start checking in later, can accommodate about 300 people. Two nurses will be on hand around the clock, while a doctor will also be present during the day.
C
oronavirus patients with light symptoms arriving to stay at several Tokyo hotels are likely to get a lift from a pleasant surprise - a robot greeter in the lobby. Japan is now using hotels to house patients who have tested positive for the coronavirus but whose symptoms are too light to need hospitalisation, and several in the capital of Tokyo just opened feature robots to help lighten the burden on nurses. In one, a big-eyed robot named "Pepper" - appropriately wearing a protective mask - stood waiting to welcome visitors. "Please, wear a mask inside," it said in a perky voice. "I hope you recover as quickly as possible."
54 May-June 2020
www.britishherald.com
BRITISH HERALD
ENVIRONMENT
Green recovery can revive virus-hit economies and tackle climate change
to accelerate a transition away from fossil fuels, the study aimed to assess such proposals in the light of new data. The authors examined more than 700 economic stimulus policies launched during or since the 2008 financial crisis, and surveyed 231 experts from 53 countries, including senior officials from finance ministries and central banks. The results suggested that green projects such as boosting renewable energy or energy efficiency create more jobs, deliver higher short-term returns and lead to increased long-term cost savings relative to traditional stimulus measures.
M
The authors cautioned that there were some risks with extrapolating from past crises to discern how coronavirus recovery packages might play out, given the possible reluctance of people to travel or socialise following the pandemic.
assive programmes of green public investment would be the most cost-effective way both to revive virus-hit economies and strike a decisive blow against climate change, top U.S. and British economists said in a study published.
depend on policy choices made in the next six months.
With co-authors including Nobel laureate Joseph Stiglitz from Columbia University and prominent British climate expert Lord Nicholas Stern, the findings are likely to fuel calls for "green recoveries" gathering momentum around the world.
German Chancellor Angela Merkel and International Monetary Fund Managing Director Kristalina Georgieva called for green recoveries last week, and the concept has emerged as a political fault line from the United States to India and South Korea.
"The COVID-19 crisis could mark a turning point in progress on climate change," the authors wrote, adding that much would
While think-tanks and investor groups have also been making the case for tailoring recoveries
facebook.com/britishherald
With major economies drawing up enormous economic packages to cushion the shock of the coronavirus pandemic, many investors, politicians and businesses see a unique opportunity to drive a shift to a low-carbon future.
Nevertheless, with carbon emissions on track for their biggest fall on record this year, governments could now choose to either pursue net zero emissions targets or lock in a fossil fuel system that would be "nearly impossible to escape." "The COVID-19-initiated emissions reduction could be short-lived," said Cameron Hepburn, lead author and director of the Smith School of Enterprise and Environment at the University of Oxford. "But this report shows we can choose to build back better, keeping many of the recent improvements we've seen in cleaner air, returning nature and reduced greenhouse gas emissions."
May-June 2020 55
BRITISH HERALD
Shift To Cleaner Energy So far, governments have focused on emergency economic relief as an estimated 81% of the world's workforce has been hit by full or partial lockdowns, the report said. But as governments move from "rescue" to "recovery" mode, the authors identified sectors that could provide particularly strong returns in terms of both rebooting economies, creating jobs and advancing climate goals. Industrialised countries
ENVIRONMENT should focus on backing "clean physical infrastructure," such as solar or wind farms, upgrading electric grids or boosting the use of hydrogen. The study also recommended retrofits to improve building efficiency, education and training, projects to restore or preserve ecosystems, and research into clean technologies. In lower- and middle-income countries, support for farmers to invest in climate-friendly agriculture came out ahead in the study, due to run in the
EU carbon market emissions fell 8.7% in 2019 – EU Commission
Oxford Review of Economic Policy. Among the worst-performing policies: bailing out airlines without attaching climate conditions. "The policy frameworks already exist to steer a sustainable recovery," said Stephanie Pfeifer, chief executive of the Institutional Investors Group on Climate Change, which groups pension funds, insurers and asset managers with 30 trillion euros in assets. "We can't leave climate action behind."
2018. Aviation industry emissions covered by the scheme rose by 1%. Total verified greenhouse gas emissions from stationary installations, such as power plants and factories, were 1.527 billion tonnes of carbon dioxide equivalent (CO2e) in 2019. Emissions from the aviation industry were 68.14 million tonnes CO2e, the Commission said. The figures were in line with analyst expectations published, based on raw data.
G
reenhouse gas emissions regulated under Europe's carbon market fell by 8.7% last year, with a large fall from the power industry helping to offset a small increase from aviation, the European Commission said. Around 45% of the European Union's output of greenhouse gases is regulated by the
56 May-June 2020
Emissions Trading System (ETS), the bloc's flagship policy to tackle global warming by charging for the right to emit carbon dioxide (CO2). An increase in renewable power generation such as wind and solar led to a 15% fall in power industry emissions covered by the scheme, the Commission said, while industrial emissions were down 2% compared with
Globally greenhouse gas emissions are expected to fall further in 2020 as measures designed to prevent the spread of the novel coronavirus have led to the closure of business and factories and reduced power demand. The International Energy Agency said last week global energy demand could slump by 6% leading to an 8% drop in carbon dioxide emissions.
www.britishherald.com
BRITISH HERALD
Europe's energy giants turn greener, but paths and targets diverge
ENVIRONMENT deployed at commercial scale. What does this mean, say, for the carbon footprint of a car driver at a petrol station? If we take BP as an example, emissions from its own barrels, from wellhead to passenger car exhaust, amount to around 415 million tonnes of carbon dioxide equivalent a year. BP says it will reduce these emissions - roughly the same as Britain's annual emissions - to net zero by 2050. The net zero target does not cover crude and refined products that BP trades but which are initially brought out of the ground by other producers, a total which is much larger than the oil and gas BP produces itself. It says it aims to halve the carbon density of all energy that it trades by 2050. BP's peer Royal Dutch Shell has the oil and gas sector's broadest plan to reduce greenhouse gas emissions to net zero by 2050, although it depends on pivoting "towards serving businesses and sectors that by 2050 are also netzero emissions".
E
urope's top oil and gas companies, which account for roughly 7% of global crude consumption, have committed themselves to greenhouse gas emission reduction targets which vary in scope and detail, making them hard for investors to compare. Many climate ambitions among oil majors relate to results three decades into the future and depend on carbon offsets, whose availability is finite, and carbon capture and storage, a technology not currently
facebook.com/britishherald
May-June 2020
57
BRITISH HERALD
ENVIRONMENT But its broader 2050 net zero carbon plan covering emissions from fuels made from the oil and gas it extracts, such as gasoline, and sold to customers - also known as Scope 3 - only applies to Europe. As for emissions from its global fuel sales, it wants to reduce the carbon intensity of energy products used by Total customers by 2050 to less than 27.5 grammes CO2 equivalent per megajoule. An intensity-based target allows for absolute emissions to increase if volumes sold go up. Equinor has also pledged to halve the intensity of the energy products it produces and sells by 2050, but its methodology is based on its equity oil and gas output, rather than every drop of fuel it sells. Eni, conversely, committed to cut its absolute emissions from all products it sells by 80% and said its oil output would shrink from 2025. Still, European oil and gas producers' climate ambitions are way ahead of their U.S. peers ExxonMobil, Chevron and ConocoPhillips.
This means Shell relies on its customers' choices to reach its aim. French major Total pledged to cut to zero the greenhouse gas emissions from its operations, such as oil fields, globally by 2050. Such emissions from a group's operations and from the electricity used for them are also known as Scope 1 and 2.
58 May-June 2020
www.britishherald.com
BRITISH HERALD
ENVIRONMENT
World has 'historic' opportunity for green tech boost, says global watchdog
G
lobal efforts to minimise the economic fallout from the coronavirus pandemic present an historic opportunity to scale up the technologies needed to speed a transition to cleaner energy, the head of the world's energy watchdog says. Fatih Birol, executive director of the International Energy Agency (IEA), said support from governments could drive rapid growth in battery and hydrogen
facebook.com/britishherald
technology to help the world to reduce its reliance on fossil fuels. "I believe there is an opportunity – and I call it an historic opportunity here," Birol, an economist who took the helm of the Paris-based IEA in 2015, told Reuters. "The big time is about to come, but they need a push," he said, adding that the economic stimulus packages being delivered worldwide offer an ideal vehicle for change.
After weeks of extraordinary turmoil in oil markets, the IEA - created to ensure steady energy supplies to industrialised countries after the oil crisis in the early 1970s - has emerged as a leading proponent of "green recoveries" from the pandemic. Birol wants governments to broaden support for wellestablished paths to reducing carbon emissions, such as embracing greater energy efficiency and expanding renewable energy to create jobs and serve climate goals.
May-June 2020 59
BRITISH HERALD
ENVIRONMENT meet energy demand, climate scientists say that the world must also reverse plans to expand oil, gas and coal production to stand a chance of avoiding catastrophic climate change. Birol cautioned against blanket categorisation of the oil and gas industry as "troublemakers", saying oil would still be used for years to come and that the coronavirus had underscored the importance of petrochemicals. "Today the petrochemical industry ... is one of the most critical ones helping us with the masks we are using or the sanitisers we are using," he said. Last year climate scientists, campaigners and the Institutional Investors Group on Climate Change, which comprises pension funds and insurers managing more than 30 trillion euros (26.12 trillion pounds) in assets, wrote letters to the IEA to ask it to produce more ambitious decarbonisation pathways to boost climate-friendly investment.
But he also wants governments to consider offering promising technologies the kind of subsidy and policy support that have helped to propel spectacular growth in wind and solar power from a low base over the past decade. Global installed solar capacity increased from 40 gigawatts (GW) in 2010 to 580 GW in 2019, according to the Abu Dhabibased International Renewable Energy Agency. Birol singled out lithium ion batteries and the use of electrolysis to produce hydrogen from water as two technologies poised for rapid take-off. Lithium ion batteries can be used for a wide range of purposes, from powering electric vehicles to storing energy generated by solar or wind plants to ensure a steady supply of electricity at night or when the wind isn't blowing.
Dual-Purpose Policies Electrolysers can be used in products as small as household
60 May-June 2020
appliances up to industrial-sized units for power plants. They can create hydrogen from sources such as wind or nuclear energy, with the hydrogen then used for heating or transport. "Nobody has a problem, as far as I see, to push the clean energy technologies," Birol said. "But they want to be convinced that those policies accelerating clean energy transitions would also help economic recovery." Although rollouts of cleaner technologies will be needed to
Birol said the IEA will publish a special edition of its annual World Energy Outlook on June 18 to spell out green job-creation policy options. The IEA is also due to host a Clean Energy Transitions Summit on July 9. Hannah McKinnon, director of the Energy Transitions and Futures Program at Oil Change International, a research and advocacy group that has been critical of the IEA's energy modelling, said she was awaiting details. "The IEA now has an opportunity and a responsibility to close its own climate credibility gap and set out an ambitious, just and green pathway for the future," she said.
www.britishherald.com
BRITISH HERALD
AUTOMOBILES
Judge questions Volkswagen's defence in landmark case over diesel damages
European authorities insisted that Volkswagen update its engine management software to ensure that anti-pollution filters are activated and fined Volkswagen for fraud and administrative lapses. Presiding judge Stephan Seiters said several arguments brought forward by Volkswagen were not applicable and agreed that the sale of a vehicle with a manipulated diesel engine does provide sufficient grounds for a damages claim. The Volkswagen customer who sued the company had already been awarded 26,000 euros in damages by a lower court. He sought even higher damages since he spent 31,500 euros on the car. The court held that the car had lost in value since the customer was using it. VW has asked the court to dismiss the claim altogether. "Unlike the preliminary views of the Federal Court, we do not share the view that the purchase of a vehicle gives grounds for damages," Volkswagen said in a statement.
A
German federal court judge cast doubt on Volkswagen's reasoning after the carmaker urged the court to dismiss a claim for damages brought by an owner of a diesel powered VW Sharan family van. Proceedings were the first time that Germany's Federal Court of Justice, or Bundesgerichtshof, heard arguments from a plaintiff seeking damages from VW because it had sold vehicles with manipulated diesel engines. Any ruling in this landmark case
facebook.com/britishherald
will serve as a guideline for other cases. In the United States, authorities banned VW cars from roads after the Environmental Protection Agency discovered that engine management software had been installed to mask excessive levels of pollution, triggering claims for compensation. Volkswagen has argued that because European authorities stopped short of taking VW cars off the road, compensation claims from customers were without merit.
Because cars in Europe never lost their road worthiness certification, Volkswagen asked for the damages claims to be dismissed. Even before installing new engine management software, Volkswagen's cars had emitted lower levels of pollution than many competing products, VW said. "Where the damages are supposed to have occurred is not apparent to Volkswagen," the carmaker said. A ruling will be made at a later point in time, the judge said.
May-June 2020
61
BRITISH HERALD
AUTOMOBILES
Fiat Chrysler plunges to loss, but no change to PSA deal
'Significant Impact' FCA said it made a net loss from continuing operations of 1.69 billion euros ($1.83 billion) in the quarter. That compared with a 508 million euro net profit a year earlier. "The pandemic has had, and continues to have, a significant impact on our operations," the company said in a statement. However, FCA still made an operating profit, albeit 95% lower than a year earlier. Adjusted earnings before interest and tax (EBIT) amounted to 52 million euros.
F
iat Chrysler Automobiles (FCA) plunged to a first-quarter loss of $1.8 billion(1.45 billion pounds) and scrapped its full-year earnings forecast, as the automaker grapples with a coronavirus crisis that has hammered production and sales.
The Italian-American company, which has struck a binding merger deal with France's PSA Group to create the world's fourth largest carmaker, said it remained committed to the tie-up, despite "unexpected and unprecedented times". On a conference call, FCA Chief Executive Michael Manley said "the terms of the deal have not changed" and FCA remained "committed to completing the transaction by the end of this year or early 2021." Car sales across the world have slumped as measures to contain the coronavirus pandemic forced production lines to shut and showrooms to close, leaving
62 May-June 2020
manufacturers scrambling to try to conserve cash. Manley said a planned 1.1 billion euro dividend was under review, as part of FCA's efforts. The company has begun reopening plants in China and Europe, and said most of its North American ones were expected to reopen on May 18. Much of FCA's revenue and profit comes from North America, where quarterly sales of its Ram truck brand were up 7% from the previous year and its share of the full-size pickup market rose to 24%. Capital expenditure (capex) was up in the quarter, driven by spending on the new Jeep Wagoneer and Grand Wagoneer, and redesigned Jeep Grand Cherokee models. But executives said full-year capex estimates would be trimmed by 1 billion euros as key programme launches had been delayed by an average three months.
FCA's Milan-listed shares extended their gains after the results were released and were up 2.5% at 1245 GMT. The automaker said that due to the continued uncertainty related to the pandemic, it had withdrawn its full-year guidance and would update it when it had better visibility of the overall impact of the crisis. In February, the group guided for an increase in adjusted EBIT to more than 7 billion euros this year and industrial free cash flow of over 2 billion euros. In the first quarter, industrial free cash flow was around minus 5 billion euros. But FCA said it had available liquidity of 18.6 billion euros as of March 31, including a 6.25 billion revolving credit facility which was fully drawn down in April. Liquidity was further strengthened with a new 3.5 billion euro incremental bridge credit facility, which remains fully undrawn. "We continue to assess all funding options," FCA said.
www.britishherald.com
BRITISH HERALD
AUTOMOBILES
UK new car sales plunge 97% to lowest level since 1946 more than 8 billion pounds due to the coronavirus outbreak, according to the SMMT. Output in the industry has fallen 14% so far this year and sales have dropped 43%. The top-selling car in Britain, normally dominated by the likes of Ford, Volkswagen and Vauxhall, was the Tesla Model 3 in April, recording 658 purchases.
B
ritish new car sales slumped by an annual 97% in April to the lowest level of any month since February 1946 as factories and dealerships shut due to the coronavirus outbreak. The collapse in car sales puts more pressure on the UK economy, which is on course for an unprecedented quarterly contraction of at least 7%, a survey showed, as the coronavirus crimps activity. Lockdown measures have been in place across Europe since midMarch to contain the pandemic, shutting many companies and limiting people's movements, with Prime Minister Boris Johnson expected to detail this week how measures will be slowly eased.
facebook.com/britishherald
Sales to businesses in April accounted for four in five of the 4,321 new car registrations, according to the Society of Motor Manufacturers and Traders (SMMT), which further downgraded its full-year forecast to 1.68 million sales, on track for a near 30-year low. In January it had forecast 2.25 million sales. "Safely restarting this most critical sector and revitalising what will, inevitably, be subdued demand will be key to unlocking manufacturing and accelerating the UK’s economic regeneration," said SMMT Chief Executive Mike Hawes.
In February 1946, just a few months after the end of World War Two, just 4,044 new cars were sold in Britain, which was still undergoing rationing and trying to rebuild after wartime destruction, under its first majority Labour government. High-value but low-volume luxury brands Rolls-Royce and Aston Martin began reopening their factories this week but larger-scale production isn't due to resume until later in May when Jaguar Land Rover and Mini are set to resume some output. Britain's biggest car factory, operated by Nissan in Sunderland, will not be building cars until June.
Demand in France and Italy fell by similar levels. Britain's car industry, the country's biggest exporter of goods, faces losing output worth
May-June 2020 63
BRITISH HERALD
AVIATION
Lufthansa has no plans to buy rivals hit by coronavirus crisis - CEO
elements of the rescue deal as well as the possible contribution from Switzerland, Austria and Belgium is still unclear, the sources said. Spohr is expected to visit Brussels this week, according to Belgian daily L’Echo. The airline is seeking 290 million euros in financial aid from the Belgian state to survive the crisis. In exchange, Belgium wants guarantees on the future of Brussels Airlines and the development of the Brussels airport. Spohr said that despite the bailout the German government was not interested in taking an active role in the company, after he had earlier warned about possible state interference.
L
ufthansa is not planning to buy rivals weakened by the coronavirus crisis, Chief Executive Carsten Spohr told shareholders at the company's virtual annual general meeting. The carrier, which is preparing to restart passenger flights slowly from June, is currently in talks with governments about a roughly 10 billion euro bailout and Spohr said that he expected a deal with Germany shortly. "Our focus is on stabilising Lufthansa in its current form and not on acquiring other airlines. We are not planning a takeover at this time," he said, adding that consolidation among European airlines will slow down due to government bailouts.
64 May-June 2020
Travel bans have forced the German carrier to ground 700 of its aircraft, leading to a 99% drop in passenger numbers and causing the group, which includes Swiss, Austrian Airlines and Brussels Airlines, to lose about one million euros ($1.1 million) in liquidity reserves per hour. Lufthansa's rescue deal is expected to give Germany a 25.1% stake in the airline as well as supervisory board representation, people close to the matter said. Separately, Lufthansa is expected to receive about 5 billion euros in non-voting capital as well as roughly 3 billion in state-backed loans, they added. The exact size of the various
Klaus Schmidt, head of the council of economic advisers to the federal economy ministry, said at a ministry briefing on Tuesday, that the government should not weigh into discussions, for example, on whether Lufthansa's Germanwings division should be shuttered. To reduce its cash outflows, Lufthansa -- which is taking a 2020 hit of about 1 billion euros from crude oil hedging -- said at the AGM that it had among other things asked Airbus and Boeing, to postpone aircraft deliveries. Lufthansa is sticking to its plan to sell its catering activities, Spohr said, adding that further asset sales were not planned at this stage and a potential listing of its Lufthansa Technik business would currently only be possible at a massive discount. The company said that it was impossible to give long-term forecasts as the coronavirus would continue to weigh on the airline industry for a long time.
www.britishherald.com
BRITISH HERALD
AVIATION
Virgin Atlantic to cut 3,150 jobs; shifting flights from Gatwick to protect as many jobs as possible," Weiss said in a statement. "It is crucial that we return to profitability in 2021. This will mean taking steps to reshape and resize Virgin Atlantic in line with demand." Virgin Atlantic said it continued to explore all available options to get extra funding through talks with the government and other stakeholders about possible support for the airline. The British Airline Pilots Association (BALPA) said it was a terrible blow for the industry, and urged the government to stop "prevaricating" and help the aviation sector.
B
ritish airline Virgin Atlantic said it planned to cut 3,150 jobs and would move its flying programme from London Gatwick to Heathrow airport as it counts the cost of the COVID-19 pandemic.
"Government should call a moratorium on job losses in aviation and lead a planned recovery," BALPA General Secretary Brian Strutton said.
The spread of the novel coroanvirus has virtually brought airports around the globe to a standstill, leaving airlines taking drastic steps to make savings. British Airways said last week it could cut as many as 12,000 jobs, over a quarter of its total, and Virgin Atlantic Chief Executive Shai Weiss said the pandemic was the most devastating event in the airline's history. "To safeguard our future and emerge a sustainably profitable business, now is the time for further action to reduce our costs, preserve cash and
facebook.com/britishherald
May-June 2020 65
BRITISH HERALD
TECHNOLOGY
Tesla stock rise appears to qualify CEO Musk for $700 million payday
Each tranche gives Musk the option to buy 1.69 million Tesla shares at $350.02 each. At Tesla's closing stock price of $761.19, Musk would theoretically be able to sell the shares for a profit of $694 million. Musk said on Twitter, "Tesla stock price is too high imo," using an abbreviation for "in my opinion". That tweet sent Tesla's stock tumbling 10%, shocking shareholders. Tesla, whose California factory is closed as part of the state's coronavirusrelated lockdowns, posted its third quarterly profit in a row. Musk, who is also the majority owner and CEO of the SpaceX rocket maker, receives no salary or cash bonus, only options that vest based on Tesla's market cap and milestones for revenue and profit growth. A full payoff of all tranches would surpass anything previously granted to U.S. executives.
T
esla Chief Executive Elon Musk appeared to qualify for a $700 million (£562.6 million) payday, just three days after he said the electric car company's stock price was too high. Shares of Tesla Inc jumped more than 8%, putting Tesla's market capitalization at $141.1 billion at the close. More importantly for Musk, Tesla's stock market value reached a six-month average of
66 May-June 2020
$100.2 billion, according to an analysis of Refinitiv data. Hitting a six-month average of $100 billion triggers the vesting of the first of 12 tranches of options granted to the billionaire to buy Tesla stock as part of a pay package agreed in 2018. Musk has already met two other requirements by hitting a growth target and far exceeding a one-month average $100 billion market cap.
When Tesla unveiled Musk’s package in 2018, it said he could theoretically reap as much as $55.8 billion if no new shares were issued. However, Tesla has since issued shares to compensate employees, and last year it sold $2.7 billion in shares and convertible bonds. Musk's subsequent options tranches would vest at $50 billion increments of Tesla market capitalization over the agreement's 10-year period, with the billionaire earning the full package if Tesla's market capitalization reaches $650 billion and the high tech vehicle maker achieves several revenue and profit targets.
www.britishherald.com
BRITISH HERALD
TECHNOLOGY
France accuses Apple of refusing help with 'StopCovid' app
A spokesman for Apple in France declined to comment. The issue of Bluetooth access on iPhones is one of several security-related questions that have arisen as countries try to roll out smartphone apps to fight the coronavirus. France, along with some other countries, wants to keep contact data in a central database, arguing this would make it easier for the authorities to track suspected coronavirus cases. Apple and Alphabet's Google, between them responsible for the operating systems on nearly all smartphones, want data to be stored on the phones themselves, out of government reach, saying this would better protect the privacy of users. The French minister, said he could not explain the reasoning behind Apple's decision on Bluetooth.
F
rance accused Apple of undermining its effort to fight the coronavirus by refusing to help make its iPhones more compatible with a planned "StopCovid" contacttracing app. Countries are rushing to develop smartphone apps, which are seen as a way to help keep the novel coronavirus epidemic in check while reopening the economy. The apps would use the Bluetooth feature that allows phones to interact with nearby devices to help detect when users come into contact with people who potentially carry the virus. Apple's iPhones normally block access to Bluetooth unless the
facebook.com/britishherald
user is actively running an app. French officials want Apple to change the settings to let their app access Bluetooth in the background, so it is always on. So far, they say, Apple has refused. "Apple could have helped us make the application work even better on the iPhone. They have not wished to do so," France's minister for digital technology, Cedric O, told BFM Business TV. "I regret this, given that we are in a period where everyone is mobilised to fight against the epidemic, and given that a large company that is doing so well economically is not helping out a government in this crisis." "We will remember that when time comes," the minister added.
"We consider that oversight of the healthcare system, fighting the coronavirus, is a matter for governments and not necessarily for big American companies," he said. The French minister said the app should be ready to be deployed on June 2 regardless of Apple's stance, and would enter a testing phase in the week of May 11 when the country starts to unwind its lockdown. In France, Apple's mobile operating system accounted for 21.1% of the market in the first quarter, while Google's Android accounted for 78.8%, according to Kantar research. Britain, which is using the same centralised approach as France to store data, will start testing its own COVID-19 tracing app on the Isle of Wight.
May-June 2020
67
BRITISH HERALD
OIL
Oil prices surge on demand hopes as lockdowns ease an undersupply by the fourth, forecasting an end-2020 recovery of Brent to $43 per barrel and $55/ bbl by mid-2021. "The market is still vulnerable but now one thing is clear, the demand bottom is behind us," Rystad Energy's head of analysis Per Magnus Nysveen said. "If you're a trader and open the window, do you see traffic? Is it noisy? That’s the indication that demand is coming back, that the price rebound is not too far away."
O
il prices soared higher on hopes for a recovery in vehicle traffic and fuel demand as some European and Asian countries along with several U.S. states began to ease coronavirus lockdown measures. West Texas Intermediate (WTI) crude futures were up 18.1%, or $3.68, at $24.07 per barrel at 1400 GMT. The U.S. benchmark has closed higher for the last four sessions. Brent crude futures were up 11.4%, or $3.11, at $30.31. Italy, Spain, Nigeria and India, together with Ohio and other U.S. states, began allowing some people to go back to work and
68 May-June 2020
Reflecting hopes that the oil industry may have passed the worst of coronavirus-induced lockdowns, hedge funds and money managers were buyers of petroleum derivatives for a fifth straight week in the week ended April 28. opened up construction sites, parks and libraries. Vehicle traffic in most of the United States, including those yet to lift shelter-in-place orders, has also rebounded, RBC Capital Markets research said in a note. U.S. President Donald Trump praised the rise in oil prices and hailed measures by the states to reopen their economies, a reversal from anger he has frequently mooted throughout his administration at price rises as the U.S. shale industry confronts unprecedented pain. Swiss bank UBS said the easing of restrictions would help lead to a balance in supply and demand for the oil market in the third quarter and even projected
Morgan Stanley said the peak of oversupply in global markets had likely been reached and a storage crunch was abating. "Inventories have built but not quite as strongly as feared: With social distancing measures ramped up in March ... the observed inventory increases have not been quite as strong as feared," it said in a note. Still, global oil demand and prices suffered historic losses in April and recovery is likely to be slow with air traffic not expected to rebound any time soon. U.S. crude oil stockpiles were seen rising for a 15th consecutive week, while inventories of oil products also likely built last week, a preliminary Reuters poll showed.
www.britishherald.com
BRITISH HERALD
WORLD
Trump urges China to reveal all about origin of coronavirus
said he had not spoken to Chinese President Xi Jinping. "We want them to be transparent. We want to find out what happened so it never happens again," he said. The Republican president, who is seeking re-election in November, has been accused of not acting early enough to curb the spread of the virus in the United States. He has said China should have warned the world much sooner.
U.S.
President Donald Trump urged China to be transparent about the origins of the novel coronavirus outbreak that has killed more than a quarter of a million people since it started in the Chinese city of Wuhan late last year. Trump, speaking before leaving on a trip to Arizona, said the United States would release a report detailing the origins of the virus, but gave no details or timeline. "We will be reporting very definitively over a period of time," Trump told reporters. While taking aim at China as the source of the outbreak and warning that it would be held to account, Trump and officials in his administration have expressed differing levels of confidence about the exact origin of the virus. Secretary of State Mike Pompeo said there was “a significant amount of evidence” that it
facebook.com/britishherald
emerged from the Wuhan Institute of Virology, while not disputing U.S. intelligence agencies’ conclusion that it was not man-made. General Mark Milley, the top U.S. general, said it was still not known whether the coronavirus emerged from a wet market in China, the institute of virology or some other location - echoing remarks Pompeo made last. Trump was asked last if he had seen evidence that gave him a "high degree of confidence" that the virus came from the Wuhan Institute of Virology, and replied that he had, although he declined to give specifics. The Chinese state-backed institute has dismissed allegations that the virus originated there. Most experts believe the virus originated in a Wuhan market selling wildlife and jumped from animals to people. Trump, who initially praised China over its response to the outbreak,
Anthony Fauci, director of the U.S. National Institute of Allergy and Infectious Diseases and a member of the White House Coronavirus Task Force, told National Geographic in an interview published the best evidence showed the virus was not made in a lab in China but appeared to have "evolved in nature and then jumped species." Asked if scientists could have found the virus outside the lab and brought it there, from where it escaped, Fauci said: “But that means it was in the wild to begin with. That's why I don't get what they're talking about [and] why I don't spend a lot of time going in on this circular argument.” U.S. Health Secretary Alex Azar was asked on Fox News about differences between Pompeo's and Fauci's remarks. "I don't think there's a distinction between them. Of course, Secretary Pompeo has access to information that Dr. Fauci may not have, so there's not necessarily a difference of opinion there," he said. The World Health Organization called the comments Pompeo made "speculative." Trump has halted U.S. funding to the WHO and accused of it being "Chinacentric."
May-June 2020 69
BRITISH HERALD
WORLD
Putin's rating dips to low, but poll shows rising support for extending rule
sharply rise, oil prices remain historically low and a lockdown poisons the economy and people's livelihoods. The number of confirmed coronavirus cases rose by more than 10,000 for a fourth consecutive day and now stands at 165,929, though at 1,537 the death toll remains far lower than in many other countries. The poll was conducted by phone because of the coronavirus-related lockdown, rather than face-to-face, which Levada's Deputy Director Denis Volkov said may have clipped 1-2% off Putin's approval rating. Even taking that into account, Volkov said an outcome of 61% would still mean Putin's rating was on a par with 2013, a year before Russia's annexation of Ukraine's Crimea prompted his ratings to surge. Kremlin spokesman Dmitry Peskov cast doubt on the poll.
R
ussian President Vladimir Putin's approval rating has slipped to its lowest level in more than two decades amid the coronavirus crisis, even as support for his plan to extend his rule for years ahead has risen, a poll showed. The poll, by the Levada-Center, showed Putin's support fell to 59% in April, from 63% in March. It was the worst result for Putin recorded by Levada since September 1999 when Putin was a rookie prime minister with a 53% approval rating. However, support for his plan to change the constitution to
70 May-June 2020
allow him to extend his rule until 2036 rose to 47 percent in April, up from 40 percent in March. A nationwide vote on the proposed change, scheduled for last month but delayed because of the virus outbreak, is now expected later this year. Putin's approval rating is still very high by Western standards, and there is no sign that the man who has dominated Russian politics as president or prime minister for more than 20 years and survived many crises, is about to be toppled. Economic and social fallout from the coronavirus crisis is causing problems for him though, as the number of cases continues to
"I'm not inclined to entirely trust Levada's polls," Peskov told reporters. "There are other polls which give a different picture." A survey from state-run pollster VTsIOM gave Putin a trust rating of 69.8% in April. Among those who said they intended to take part in the vote on constitutional change, 58 percent said they would back the changes and only 25 percent vote against them. "What is important is that those that are 'for' are very well mobilised and are ready to come (and vote)," said Volkov. Levada said the survey was conducted on April 24-27 and that 1,608 people had been polled across Russia.
www.britishherald.com
BRITISH HERALD
ENTERTAINMENT
Locked out of galleries, Londoners find Caravaggio street art
L
ondoners locked out of galleries can find an alternative art fix on a wall under some railway arches after street artist Lionel Stanhope painted a Caravaggio classic, updated for the coronavirus age. The Italian baroque master's "Supper at Emmaus" is usually available to view at the National Gallery in London, but with that shut, Stanhope's giant interpretation is now on show in Ladywell, southeast London.
facebook.com/britishherald
Lockdown has given the artist the time and the quieter streets to replicate a painting he said he has always admired and wanted to do on a large scale. "I thought I wanted something that was going to take me some time, you know, quite a long time to do, just to get through the days of not doing anything else, so that's why I took it on," Stanhope told Reuters. The artist is best known for his giant green and gold place-name murals near railway stations, a
trend which in recent years has fostered local pride and provided a backdrop for outdoor food markets. But since the virus shut down normal life in March, the 52-yearold artist has been unable to carry on with his commissions, and has instead turned his attention to the pandemic. Caravaggio's 1601 painting depicts a resurrected Jesus appearing to two of his disciples at a table spread with a meal.
May-June 2020
71
BRITISH HERALD In Stanhope's spray-painted version, Jesus is wearing surgical gloves. "Christ is wearing a pair of blue gloves, just to make it relevant for today of what we're all going through," Stanhope said. He also recently completed a mural tribute to healthcare workers under a bridge near London's busiest rail station, Waterloo, and close to St Thomas's hospital, where Prime Minister Boris Johnson was treated for COVID-19. Stanhope asked Network Rail, owner of the bridge, if they had a wall he could use to say thank you to the National Health
72 May-June 2020
ENTERTAINMENT Service. In the mural, the NHS acronym is given the superman treatment and seen bursting from a blue chest in red and yellow. "There's a lot of street artists doing a lot of NHS work at the moment which is really nice to see," Stanhope said by phone, adding that the pandemic was giving more meaning to street art. "I think a lot more street artists that I know of, who would normally paint their own kind of work, are just putting a twist on it to make it relevant, and to maybe thank the NHS or key workers, or message about the coronavirus," he said. His Caravaggio is hidden away in
a cul de sac but he said people were heading down on their daily lockdown exercise to have a look, and he had enjoyed the positive response on social media. But now, after using up all his spare paint, he is keen to get back to real life. "I need some paid work now ... I'm hoping that when we hear about the government's proposals that I might be able to start doing some other work," he said. The government will review the lockdown this week and the Prime Minister is expected to set out a roadmap for easing restrictions.
www.britishherald.com
BRITISH HERALD
ENTERTAINMENT
Prince Harry helps mark 75th anniversary of Thomas the Tank Engine
B
ritain's Prince Harry is helping "Thomas and Friends" celebrate their 75th anniversary by introducing a special episode which features the cartoon trains as well as some members of the royal family. Fictional train Thomas the Tank Engine came to life in 1945 as a character in "The Railway Series" books by Reverend Wilbert Awdry, an Anglican clergyman, and later his son Christopher. It led to a children's TV spin-off show now called "Thomas and Friends", which began in 1984 and is still running.
facebook.com/britishherald
Sitting in an armchair and holding one of the brand's books, Prince Harry introduces the episode "Thomas & Friends: The Royal Engine" saying: "It all began when a young boy lay ill in bed. His loving father entertained him with stories of a special railway on the magical island of Sodor." "Those stories would go on to become the tales of the most
iconic tank engine the world has ever known, Thomas the Tank Engine... 'Thomas & Friends' is celebrating 75 years of friendship and teamwork." "The Royal Engine" features Britain's Queen Elizabeth and her eldest child Prince Charles Harry's father - as a boy awaiting the arrival of Sir Topham Hatt, also known as the Fat Controller.
May-June 2020
73
BRITISH HERALD
ENTERTAINMENT
and apt episode for the 75th anniversary episode," said actress Rosamund Pike, who voices the duchess. "It's got all the key characters and some new ones and some unexpected ones, and I think it puts Thomas front and centre, giving him a very noble and important challenge and he emerges from it triumphant," Pike said.
He has been invited to London by the queen to collect an award and it is Thomas' job to get him there safely. "It's about Thomas and Sir Topham Hatt embarking on a journey to London and on the way they come across lots of
74 May-June 2020
pitfalls and perils," said producer Ian McCue. The episode features a new train character, The Duchess of Loughborough, whose role is to transport the royal family. "I think this is a very beautiful
The recording of Harry reading the introduction took place in January, before he gave up his royal duties and moved with his wife Meghan to the United States, where they intend to launch a new charitable foundation. "Thomas & Friends: The Royal Engine" can be watched on various channels around the world. It was released on Netflix USA on May 1.
www.britishherald.com
BRITISH HERALD
BOOK REVIEW
Confidence Sponsored by Pain by Venkatesh Krishna Murthy
Trigger, Challenge, Opportunity and Strength. Venkatesh explained a very important practice in the ninth chapter that when we are most comfortable, we don’t expect hardships or unpleasant situations. Despite recession at the time, it was his absolute zeal that motivated him to showcase and channelise his skills towards his passion. And it was these challenges that acquainted him with his talents and nature of expertise, which he calls his gifts. These skills were imbibed from his experience through the years of hard work and knowledge, especially because he worked with multiple startups. He used these experiences to find his gifts which eventually made him recognise his strengths and powers which he used to finally establish his businesses. “If God doesn’t stop testing then you shouldn’t stop fighting, keep going till your resilient fight is acknowledged and the universe joins hands with you.”
which the author has documented in a very motivating way. There are many exercises throughout the book which the author has used very cleverly to engage the readers.
With this as the basis of the autobiography, Confidence Sponsored By Pain: Strategies and Gifts to Leverage On and Strengthen Your Beliefs,” Venkatesh Krishnamurthy, Founder and CEO of Wharf Street Studios and Wharf Street Strategies, chronicles his journey from being stuck in the rat-race life in India to mapping out a completely different world for himself in the UK.
Venkatesh too faced many ups and downs in his professional and personal life but he was able to succeed only because he believed in a very vibrant thought: that power is in the mindset and once we can control and program our mindset, we can achieve anything.
The book has beautifully described that to succeed in life, you must focus on only evaluating feedbacks you’ve received. Of course, feedback and criticism from others are very important for building a strong character, but more than that is the importance of self-feedback
facebook.com/britishherald
Wrapped up in a ten-chapter story format, the name of the chapters is very intriguing and instantly motivates the readers to take actions as per the exercises described. For instance, in the third chapter, Darkness as an ally to mould oneself, the author has described a personal tragic event which made him introspect many aspects of his life. In this chapter, he explores the concept of TCOS Quadrant that is
The book ends on a very actionable note, explaining the theory of Energy Flow Quadrant. Simply put, if you are aware of your gifts, the energy that you are using to achieve those goals will work like a miracle, navigating your life towards those goals. Channelise your gifts which build your net-worth. Once you build your net-worth, you will be connected with the right people and once you are connected with the right people, you will share your intellect which will reflect you to channelise your gifts properly. Those who follow and repeat this process will succeed as Venkatesh did. The stories mentioned does justice to the title of the book. As a reader, you can expect to relate to these experiences and implement these strategies to scale any part of your life. This book review has been written by Shruti Dugar.
May-June 2020
75
BRITISH HERALD
ODD FACTS "The response was amazing, we are sold out for the next couple of days. People are very tired after staying at home for so long and they want to get out". The annual international film festival in Vilnius, due to take place in March, was cancelled due to the lockdown, and Ramaska says he hopes to keep the festival team employed by showing movies purchased for the event.
Park right of the jet and enjoy the movie: lockdown cinema at empty airport a group larger than two, if mixing
A
cargo airplane took off from Vilnius airport, while just a few hundred meters away people watched a movie from their cars at a makeshift drive-in cinema on the airport tarmac. Occupants of the some 160 vehicles were under strict instruction to keep their windows shut to prevent any spread of the novel coronavirus - but were delighted at a chance to watch Oscar-winning South Korean film Parasite on the cinema's opening night.
with non-family members.
The government however this week allowed open-air cafes to reopen and some events, such as the drive-in cinema, to go ahead as the infection rate slowed. "Screening films at the airport was always my dream, but we've only got the opportunity now. The tarmac is too busy during normal operations", said Algirdas Ramaska, who organised the cinema which runs for four weeks.
"It's really an amazing experience, watching a movie here - I have never been inside the airport in my car, only in a plane", Egle Ribaciauskaite, 34, said. At the screening, people were told to stay in their cars at all times and to drive outside of the airport if a toilet break was needed. Part of the airport had to be re-designated for the event, as any driving on the airport tarmac usually requires a special driver's license, said Dainius Ciuplys, head of the airport. Routes for moving aircraft have been redrawn at the cramped airport, to avoid jet blasts within the drive-in cinema area, and spare radio frequency is used to beam the film's sound into the vehicles.
Some 3.8 million people flew through Vilnius airport last year, but all scheduled passenger flights ceased a month ago, as Lithuania went into lockdown to fight the virus. Restaurants, concert halls and cinemas remain closed and Lithuanians are encouraged to stay at home. If they do go out they must wear a mask and cannot be in
76 May-June 2020
www.britishherald.com
BRITISH HERALD
SPORTS
Spanish club Eibar express fears about return to training
P
layers from La Liga side Eibar have issued a joint statement expressing their concerns about returning to training and matches while the new coronavirus remains a threat. Spanish football has been on hold since March due to the pandemic, although clubs are due to start individual training this week once they have undergone testing for the virus ahead of an expected return to matches, without spectators, by June. Sides will be given daily testing for the virus, and training centres will be subjected to strict conditions on hygiene once activity resumes, although some players have spoken out about returning to matches. Eibar became the first top-flight club to publicly express their
facebook.com/britishherald
concerns. "We are worried about starting an activity in which we will not be able to complete the first recommendation of all experts which is physical distance," the players said in a statement given to radio station Cadena Ser. "It worries us that by doing what we like most we could get infected and infect our family and friends and even contribute to a new wave of the pandemic with the terrible consequences that would have for the whole population." The coronavirus has claimed more than 25,000 lives in Spain since February, but the spread of the disease and the death toll has slowed as a result of one of the strictest lockdowns in Europe, which the government has now begun loosening.
"The health of everyone should be the most important thing and now is the time to back this idea up with actions and not just words. We ask for guarantees and we demand responsibility," the Eibar players said. La Liga responded by saying it was natural for players to be cautious about returning to work, but it said it was taking appropriate measures to prevent the spread of the virus. "Of course we understand that people have various emotions, including fear," said a league spokesman. "This is an unprecedented time. However, we are taking many precautions for a safe and controlled return of football. Playing football will be safer than, for example, going to the supermarket or pharmacy."
May-June 2020
77
BRITISH HERALD
SPORTS
Cricket chief warns of 380 million pound hole if no matches played
government's Digital, Culture, Media and Sport committee about the impact of coronavirus. "That would be the loss of 800 days of cricket across all of our professional clubs and the ECB. It is the most significant financial challenge we have ever faced." The sport's new competition, The Hundred, which Harrison described as a "profit centre" for cricket that was expected to add 11 million pounds of revenue to the game in its first year, has been postponed until next year. A three-match Test Series with the West Indies originally scheduled for June has been postponed until later in the summer. England are due to play a series of T20 and one-day internationals against Australia in July and a Test series against Pakistan in July and August. Harrison was still hopeful some Test matches would take place without spectators, which would still incur a loss of around 100 million pounds. But he said such matches were subject to serious logistical difficulties while the coronavirus continues to be a global threat.
E
nglish cricket is braced for losses of up to 380 million pounds if no matches are played this summer due to the coronavirus pandemic, according to Tom Harrison, CEO of The England and Wales Cricket Board.
78 May-June 2020
The cricket season was due to begin on April 2, but no matches will be played now until the start of July at the earliest. "We anticipate the cost of no cricket this year could be as bad as 380 million pounds. That is the worst-case scenario for us," Harrison told the UK
"The complexities of lockdown in those nations means there's a huge amount of complexity to bring teams over, follow government guidelines and get players ready," he added. "But with a following wind, hopefully will be able to play a significant number of Test matches this summer which will help us mitigate those financial losses that we are facing at the moment."
www.britishherald.com
BRITISH HERALD
Creative Clothing Company FZC is one of the leading CMT factories in the Middle East established in the year 2000, renowned for the manufacture of detailed, complicated garments. With talented production staff that understands and caters for the UK High St retailers.
We are a Sedex approved facility with with high ethical standards geared up to manufacture the best quality fashion jersey wear and knit wear. Creative Clothing is already an established CMT supplier to Next, Arcadia, New Look, River Island etc.
With over 300 employees we manufacture over 100,000 garments a month. Creative Clothing works with fashion houses in the UK and works on a CMT base model. We pride ourselves on cultivating a special understanding with our customers in order to grow consistently. Having a partnership with a factory like us who is established in the UAE is prominent To get in touch with us or to learn more about manufacturing with us please call us on the following: +971555479701 or you can email us on: ahmed@creativeclothingco.com
facebook.com/britishherald
May-June 2020
79
BRITISH HERALD
80 May-June 2020
www.britishherald.com