Banks keep £100 contactless limit despite new powers Retail Britain’s banks will not be lifting the £100 cap on contactless payments despite the regulator giving them the power to do so, citing low demand. The Financial Conduct Authority (FCA) lifted the cap on Thursday, leaving it up to banks to increase their own limits – although none of the UK’s biggest banks have decided [...]
Monsoon CEO: high streets will pay the price for mishandled jobs reform Opinion Retail supports better pay and conditions for employees, but with labour costs rising and declining footfall, a poorly implemented Employment Rights Act will do harm than good, says Nick Stowe You might not have thought it, but we are seeing some of the best retail ever emerging in parts of the UK, from major shopping [...]
Banks to set own contactless limit as FCA scraps cap Banking UK banks will be able to set their own contactless limits under new rules set to be introduced by the City watchdog next year. In the current system, banks place a cap on payments of up to £100 per transaction when consumers are using physical contactless cards. But changes introduced by the Financial Conduct Authority [...]
How money laundering took over our high streets November 13, 2025 American candy stores and vape shops are the new face of financial crime, hiding in plain sight, says Marit Rodevand Walk down almost any British high street today and you’ll see them: neon-lit candy stores selling purportedly “American” sweets, vape shops and barbers with a faded poster of Cristiano Ronaldo taped to the window. Superficially, these [...]
Retail footfall sinks for sixth straight month as Brits fear Budget taxes November 7, 2025 Footfall at the UK’s shops has declined for the sixth consecutive month, marking another worrying sign for the retail sector. Total activity fell by 0.7 per cent in October, led by drops in shopping centre and retail park footfall, according to the British Retail Consortium (BRC). BRC chief Helen Dickinson said that nervousness around the [...]
High street jewellery giants struggle to sparkle November 5, 2025 Growth seems to be hard to come by in almost any industry at the moment, especially as UK business leaders brace for Chancellor Rachel Reeves to deliver her expected tax hikes later this month. But the latest set of financial results for two of the country’s largest jewellery chains has shone a spotlight on the [...]
Co-op warns 150,000 jobs at risk ahead of Autumn Budget October 13, 2025 The Co-op has warned that 60,000 small shops and 150,000 jobs could be lost without business rates reform in next month’s Autumn Budget. The Manchester-headquartered group has said Britain’s high streets “face a critical moment” and that Chancellor Rachel Reeves needs to announce “maximum” business rates relief on 26 November. The call comes after City [...]
British Retail Consortium appoints its first female chair August 28, 2025 The British Retail Consortium (BRC) has appointed Jo Whitfield as its new chair, the first woman in its history to hold the role. Whitfield will replace outgoing chair Andy Higginson, who has been in the position since September 2023. “I’m honoured to be joining the BRC as its first female Chair, and to be supporting [chief executive] [...]
July fails to bring summer boost for high streets August 8, 2025 Footfall on UK high streets fell again in July as shoppers continued their slow move online, dashing retailers’ hopes for a summer boost. Overall footfall – which includes high streets, retail parks and shopping centres – fell 0.4 per cent in July, while high street footfall fell 1.7 per cent. Andy Sumpter, Retail Consultant EMEA [...]
Is Claire’s about to disappear from the UK High Street? August 6, 2025 Claire’s accessories has filed for bankruptcy in the US and entered administration in France, stoking fears about its presence on UK high streets. The US-based fashion accessories and jewellery business filed for Chapter 11 bankruptcy in a court in Delaware, according to new documents. Chris Cramer, CEO of Claire’s, said the decision was “difficult” but [...]