PM Announces Further Relaxation in the Lockdown Restrictions- Cineworld Group in focus

5 min read | August 14, 2020 02:35 PM BST | By Kunal Sawhney

Summary

  • Boris Johnson announced that there would be further relaxation provided in the lockdown restrictions imposed by the British government
  • Indoor theatres, music and performance venues, wedding receptions, sports events, etc. will take place from 15 August 2020
  • The government has doubled fines to a maximum of £3,200 for those who repeatedly break the face-covering rule

After discussing the options for easing lockdown restrictions in the United Kingdom over the upcoming months, the British government is helping prepare Britons to commence work in a Covid-19 safe environment and therefore, getting nation’s economy back to a more sustainable level.

On 13 August 2020, the Prime Minister of the United Kingdom, Boris Johnson announced that there would be further relaxation provided in the lockdown restrictions imposed by the British Government. The operations of various businesses will resume from 15 August 2020, considering the social distancing measures needs to be followed by the citizens.

When will the people visit the theatre again?

Indoor theatres, music and performance venues will be able to reopen with socially distanced audiences from 15 August 2020. Under the new guidelines issued by the Government, such venues will have to operate at a reduced capacity and sale of tickets will be limited to ensure distancing can be maintained inside.

One such company of the entertainment industry, Cineworld Group PLC (LON:CINE) stock was trading not much enthusiastic about the announcement was trading at GBX 50.10 on 14 August 2020, at 12:38 PM, down by 3.54 per cent from its previous close of GBX 51.94. It was having a market capitalisation (Mcap) of £713.03 million. The company recorded a negative price return of 76.39 per cent on a YTD (Year to Date) basis.

What about the salons?

Beauty salons, tattoo studios, spas and barbers across England will be able to offer their services from the above-mentioned date.

What about the gaming section?

Bowling alleys, skating rinks and casinos will reopen for the first time since the lockdown had been imposed. The announcement has been welcomed by the Betting and Gaming Council.

One of the gaming company Flutter Entertainment PLC (LON:FLTR), a global betting and gaming operator and a constituent of the FTSE 100 index of LSE, was flowing amid the negative sentiments of the market, trading at GBX 12,105.00 on 14 August 2020, at 12:40 PM, down by 1.79 per cent from its previous close of GBX 12,325.00. It was having a market capitalisation (Mcap) of £19,076.87 million. The company has given a positive price return of 30.42 per cent on a YTD (Year to Date) basis.

Can one participate in weddings?

Wedding receptions will be permitted, but with a maximum of 30 guests only.

Generally, such ceremonies take place in hotels and banquet halls and can have some impact on the hospitality sector.

Compass Group PLC (LON:CPG) a world-class food and support services company, was trading at GBX 1,188.00 on 14 August 2020, at 1:14 PM, down by 2.10 per cent from its previous close of GBX 1,213.50. It was having a market capitalisation (Mcap) of £21,647.09 million. The company has given a negative price return of 36.23 per cent on a YTD (Year to Date) basis.

J D Whetherspoon PLC (LON:JDW) is the owner and operator of pubs throughout the United Kingdom, and Ireland was trading at GBX 979.50 on 14 August 2020, at 12:42 PM, down by 2.15 per cent from its previous close of GBX 1,001.00. It was having a market capitalisation (Mcap) of £1,205.01 million. The stock has given a negative price return of 40.35 per cent on a YTD (Year to Date) basis.

Also read: UK’s Social Distancing Norms Get Relaxation; Hospitality Sector to Reopen from July 4

Will the sport events resume?

A small number of sporting events has been allowed to take place by the Government. The sports venues are scheduled to reopen from 1 October 2020. The final of the World Snooker Championship will take place at Sheffield’s Crucible Theatre during 15 August 2020 - 16 August 2020.

Also read: A Glimpse of World of Sports Amid Covid-19 And Arsenal’s Plan of Job Cuts

However, nightclubs, dance halls, and discotheques will remain closed.

Announcement by the Prime Minister

Boris Johnson addressed on 13 August 2020, saying the nation was able to go for some further changes, allowing more people to return to work and the public to get back to more of the things they had missed in the last few months. However, as said earlier, the Government will not hesitate to put close down the operations of different sectors if required or to continue to implement local measures to help to control the transmission of the disease.

He also added that majority of the Britons are following the rules and doing all they can to control the virus, but every individual must remain focused, and cannot be complacent. This is the reason why the Government will be taking stricter actions, and strengthening the enforcement powers available to them, against those who repeatedly break the rules.

Government’s Rules and Regulations

The British Government had enforced a new rule, making it compulsory for the citizens to wear a face cover from 24 July 2020. A face covering was strongly encouraged in public spaces such as banks, post offices, shops, and supermarkets. Not adhering to the rule could result in a fine of £100.

Recently, the government has doubled fines to a maximum of £3,200 for those who repeatedly break the face-covering rule, after the lockdown restrictions are eased from the weekend. The administration will also have to ask the authorities to issue on the spot fines for gatherings taking place of more than 30 people in an illegal way, as part of its new enforcement measures targeting breaches of social distancing restrictions.

To know more, do read: Fear of Second Wave Impact European Travel, Spain Faces the Wrath

Conclusion

As the communities begin to reopen, people are obviously eager to be able to go out and resume some of their regular activities. But, one should always keep in mind that the rules and regulations imposed by the Government regarding the face covering and social distancing are necessary to be followed or else Britons could end up paying the price for it.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles


Investing Ideas

Previous Next