Tuesday newspaper round-up: ITV, PPE, working lunches

Mervyn King, the Bank of England governor during the financial crisis, has told the government now is not the time to worry about record levels of national debt and that the furlough scheme could be needed throughout 2021. In a warning to ministers that additional support for Britain’s coronavirus-hit economy will be necessary over the winter while tough new local lockdowns are in place, Lord King said the government needed to step in to prevent lasting damage for jobs and growth. - Guardian

ITV is to increase its focus on streaming to compete with rivals including Netflix, in a move that will lead to job losses at its traditional TV broadcasting operation. The move, which involves the formation of a new on-demand division that will become the home of the BritBox and ITV Hub streaming services, marks the first step towards the hugely successful streaming model pioneered by Netflix. - Guardian

British officials paid up to £320m of taxpayer money to Chinese state-backed companies amid a scramble to secure medical supplies at the height of the coronavirus crisis. Health authorities agreed almost a dozen deals with firms linked to the Communist regime in Beijing as they raced to buy ventilators and PPE after Covid hit, according to Telegraph analysis of contract details published by the Government. - Telegraph

Working lunches could be exempt from Covid lockdown restrictions after an apparent “loophole” emerged. Meeting people inside pubs and restaurants in tier 2 and tier 3 areas such as London, York and Manchester is not allowed as part of efforts to try and contain the spread of coronavirus. - Telegraph

One in ten Britons are hoarding more cash at home than before the pandemic in case of an emergency, according to the Bank of England. Households have stockpiled cash since March much like they stockpiled lavatory roll, the Bank’s chief cashier Sarah John told MPs on the public accounts committee. - The Times