Appointment of new Group Chief Risk Officer
Appointment of new Group Chief Risk Officer
Trainline boss departs two months after cashing in £3m in sharesClare Gilmartin leaving to ‘spend more time’ with her family, amid travel slump during pandemic
"Oh my gosh, I'm pregnant. I am mortified to have to tell my parents this and my family this."
Basically, you can get two for the price of one! 😏
(Bloomberg) -- Nigerian authorities declared a 24-hour lockdown in Lagos, Africa’s most-populous city, amid growing protests against police brutality that have dealt another blow to the coronavirus-battered economy.Demonstrations that erupted on Oct. 5 have continued despite the government bowing to demands to dissolve a police unit that’s borne the brunt of the brutality allegations. Thousands of people, most of them youths, have taken to the streets of Abuja, the capital, the economic hub of Lagos and other towns, sealing off major roads and bridges, disrupting flights and bringing many businesses to a standstill.The governor of Lagos state imposed a curfew on Tuesday to try and quell disruptions in a region that’s home to more than 22 million people and houses the headquarters of Nigeria’s biggest banks and other companies. The southern Edo state made a similar declaration on Monday, after hundreds of inmates took advantage of a chaotic demonstration to stage a prison break.The Lagos lockdown was imposed after two police stations were torched and a major expressway linking the main port city to the northern and southeastern parts of the country was sealed off. In Abuja, soldiers dispersed protesters who had gathered in various parts of the city.In the northwestern Kano state, eyewitnesses said at least two women were killed, a number of cars were torched and several buildings were vandalized after armed men attacked protesting youths. Habu Sani, the state police commissioner, confirmed that the demonstration had turned violent and five people had been hurt before calm was restored, but said no fatalities had been reported. Police Inspector-General Mohammed Adamu ordered the deployment of anti-riot police to protect lives and property.Economic CostThe demonstrations have cost an estimated 700 billion naira ($1.8 billion) in lost output so far, according to the Lagos Chamber of Commerce and Industry. It called for grievances to be addressed through dialog, and for an end to the series of marches and street blockades that have spread to about half the nation’s 36 states.“Over the past 12 days, economic activities have been crippled in most parts of the country,” the chamber said in a statement. “There is a great risk that the situation may degenerate into a case of the complete breakdown of law and order.”Nigeria’s oil industry -- Africa’s biggest and the mainstay of the economy -- has been unaffected and yields on the nation’s dollar bonds have ticked up since they began, indicating that investors aren’t unduly concerned.The fallout will worsen if the unrest drags on and violence that has erupted in recent days intensifies, according to Mosope Arubayi, chief economist at Vetiva Capital in Lagos.“Locals could be scared to go to work and foreigners will fear for the security of their investment,” he said. “This will have a dire impact on the level of economic activity in the country and existing foreign investors could start exiting their position in the capital market.”The unrest has weighed on insurance companies, whose shares accounted for three of the five biggest declines on Nigerian Stock Exchange on Tuesday. An industry index fell 1.2%, the most in a week.Vulnerable Stocks“Insurance stocks are the most vulnerable” if there’s more violence and property is damaged, said Tajudeen Ibrahim, an analyst at Chapel Hill Denham Securities in Lagos. “We will expect an upward pricing of insurance products if, due to the protests, insurance claims rise significantly in the coming quarters.”While the government has issued a directive to its security forces not to use violence, Amnesty International accuses the police of still using excessive force. Three people were killed during clashes that erupted during a march in Abuja on Monday, bringing the total killed so far to 18, the human-rights group said on Twitter.Most previous uprisings in Nigeria have been quashed by the security forces, but the scale of the current protests and the fact that they have been organized on social media and have no clear leaders have made them difficult to quell.“Communication between the two sides will likely continue to be strained, given a lack of trust in the government,” Songhai Advisory, a Lagos-based risk advisory firm, said in a note to clients. It warned that policing reforms will face legal and fiscal constraints, with the nation’s federal system limiting the ability of the states to effect changes on a force that falls under the ambit of the national government.Besides policing reforms, the protesters also want President Muhammadu Buhari to deliver a special state-of-the-nation speech, and for the government to pay compensation to those who have died and improve welfare benefits for police officers.The protesters have won backing from parliament. The Senate on Tuesday urged the government to meet all their demands and the Speaker of the House of Representatives warned that the current budget won’t be passed unless provision is made for victims of police brutality.“The Nigerian government is not used to something like this,” said Japheth Omojuwa, a political activist from Abuja. “It’s difficult to say it can go this way or that way, but ultimately, the government will always have a say in how far it goes.”(Updates with protest in northwestern city)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
EXCLUSIVE: Courtney Lilly, executive producer/showrunner of ABC’s comedy series black-ish, is pulling double duty as EP/showrunner of both black-ish, now in its seventh season, and spinoff mixed-ish, headed to its second season. He is shepherding both shows as part of a new overall deal with the studio behind the black-ish franchise, ABC Signature. Lilly has been […]
MILWAUKEE—Wisconsin is now a national coronavirus hot spot, with more cases identified so far in Milwaukee County than anywhere else in the state. But that didn’t stop throngs of voters here from heading to the polls on Tuesday, the first day of early voting in a hotly contested swing state with a recent history of both pandemic fear at the ballot box and far-right violence.Lines as long as two hours were reported at some of Milwaukee’s early voting sites, and Claire Woodall-Vogg, executive director of the city’s Election Commission, said lines were forming at all of the 13 sites open Tuesday. A 14th site will open Wednesday, and two more are available by appointment only for voters with disabilities who can’t use any of the others.After an April primary that saw the city operate just five packed “voting centers” thanks to a lack of poll workers, things were off to a much smoother start. City locations were enforcing social distancing, while providing one-time use pencils for registration, plexiglass protected stations, and digital screens to cast votes.Both the city and the suburbs also provide boxes to drop off ballots for those who don’t want to vote by mail or in-person.Boogaloo Protesters Get PA System and Milk From Cops“I’m not too afraid of COVID, honestly, and I’m wearing a mask,” first-time voter Gilberto Gonzales, 18, told The Daily Beast at the Historic Mitchell Street Library on Milwaukee’s south side. He said he didn’t know how to vote by mail, but probably would have chosen to do so if he had help.“Spread is a real concern, but I’m not too worried about it,” said Marcelo Martinez, 30, a COVID-19 survivor himself. “A lady just came here to make sure we stand six feet apart.”As far as the possibility of right-wing intimidation and violence at polls after a summer of unrest nationwide, vigilantism in nearby Kenosha, and the president stoking intimidation by his followers at the polls, voters here mostly felt safe.“Milwaukee is a blue city, so I don’t fear violence at the polls here, but probably at the hick small towns in Wisconsin, that may happen,” Martinez said.One voter who declined to give her name at the nearby Bay View Library was casting her ballot alongside her husband and her daughter, a first time voter. She said that they originally planned to come in on Election Day, but changed their plans amid interference in the U.S. Postal Service by the Trump administration.“Voting by mail is just a little iffy right now, and I just feel better knowing that my vote is going to be counted. I fear in the back of my mind that my ballot may get lost if I vote by mail,” she said.Lines extended for about half a block at both the Villard Square Library on largely blue Milwaukee’s predominantly Black north side and in the reliably Republican and heavily white suburb of Mequon.Mark Chorbak said he often votes early and the line at Mequon City Hall was “the biggest crowd I’ve seen here.”Although all of the voters interviewed were wearing masks and practicing social distancing, few expressed overwhelming concern about the safety of voting during the coronavirus pandemic.‘For the 217,000 Who Can’t’: North Carolina Rushes to Early Vote“It’s safer today,” because social distancing is easier in a smaller crowd, said Emmett Edwards, of Milwaukee.Bruce Spann, in line at Mequon City Hall, said he wanted to vote early “just in case I come down with COVID” before Election Day.None of the voters said they were letting the prospect of voter suppression on or before Nov. 3 spook them.“They ain’t going to stop me,” said Precious Thomas, of Milwaukee. She added she was determined to vote “to get (President) Donald Trump out of office, because if you don’t, it’s going to be mass war, destruction.”Spann said he didn’t expect any Election Day interference with voting in Mequon’s deeply red Ozaukee County, but thought it might be a concern in the Democratic strongholds of Milwaukee, Kenosha, and Racine.In Milwaukee, James Britt and Jessie Jones said they, too, wanted to vote in-person because they were concerned about whether mail-in votes would be delivered or disqualified.“It really ain’t together yet,” Britt said of the mail voting system.Read more at The Daily Beast.Got a tip? Send it to The Daily Beast hereGet our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
French President Emmanuel Macron announced on Tuesday the dissolution of a pro-Hamas group active in France, accused of being “directly implicated” in the murder of history and geography teacher Samuel Paty. Speaking several days after the shocking incident, the French leader said that “actions will be stepped up” against Islamist extremism. The decision to shut down the "Cheikh Yassine Collective", which supports the Palestinian cause and is named after the Hamas founder, will be taken at a Wednesday's cabinet meeting, Macron told an audience during a speech after a meeting with a unit for the fight against Islamism, in the north-eastern Paris suburb of Bobigny.The French group was created by Abdelhakim Sefrioui, a radical Islamist activist who is now in police custody as part of the investigation into the attack. Sefrioui is the author of one of the videos in which the father of a girl in the school accused Paty of having insulted Islam and called him a “thug”. Samuel Paty had shown his pupils cartoons of the Prophet Mohammad in a civics class on freedom of expression earlier this month.Speaking four days after Paty’s beheading, which sparked police raids on people and institutions with alleged links to Islamist militants, Macron said that "actions will be stepped up" against Islamist extremism."This is not about making more statements," Macron said during a visit to a Paris suburb. "Our fellow citizens expect actions. These actions will be stepped up.""We know what needs to be done," the French leader told reporters.(FRANCE 24 with AFP & REUTERS)
Petr Cech included in Chelsea's Premier League squad – but Arsenal's Özil omitted * 38-year-old Cech added as emergency goalkeeper cover * Özil and Papastathopoulos not included by Arsenal
Universities minister Michelle Donelan said there had not been large numbers of students deferring.
Shares of Virgin Galactic (NYSE: SPCE) flew higher today, rising 6.7% through 12:15 p.m. EDT before turning tail and running the other way. It probably doesn't need to be pointed out, but just to be safe, let's mention that Virgin Galactic is one such publicly traded space company. Indeed, when Sir Richard Branson first announced his plans to take the company public, he said his primary reason was to give individual investors a chance to "dabble a little bit in a spaceship company, own a little bit of a spaceship company."
IBM failed to convince investors that its stock was a good investment after another lackluster quarter, and Intel is unloading a noncore business.
'Tis the season! 🎄
Spencer Davis, the Welsh rhythm guitarist and songwriter who lent his name to one of the most popular and influential British Invasion groups of the 1960s with hits including “Gimme Some Lovin’” and “I’m a Man”, died Monday of pneumonia in Los Angeles. He was 81. His death was announced by booking agent and friend […]
Tony Lewis, the singer of '80s pop-rock band The Outfield, has died at the age of 62. According to a statement, Lewis died at his home near London on Oct. 20. No cause of death was given. "Tony Lewis, singer of the ‘80s rock band The Outfield, suddenly and unexpectedly passed away," reads the statement. […]
Goldman Sachs <GS.N> has sent some staff home from its London office after two employees tested positive for COVID-19. The U.S. investment bank sent a memo to staff at its Plumtree Court site in central London on Oct. 15 informing them of the positive tests and saying that people who had been in close contact with the staff members had been contacted by the bank's "Wellness team". Goldman Sachs is one of several banks that has encouraged groups of employees back into its London offices.
Investing in classified companies has some uncertainties, but it's not blind investing, as you might think.
The 6-foot-5 lead guard is not only a huge sleeper in the lottery but could end up being one of the best players in this draft class.
Business mogul and 'Stark Tank' star Kevin O'Leary isn't keen on the Green New Deal.
Bradley Wiggins winds up two cycling firms with £1m-plus debts * Companies collapsed in wake of Team Wiggins failure * Situation ‘in no way affects Bradley’s personal solvency’
Everyman cinema staff say Covid-19 lay offs have left them in limboCompany letter claims decision to stand down 400 employees will keep more people in jobs * Coronavirus – latest updates * See all our coronavirus coverage