In a world of open banking, Amazon holds all the cards in the face off with Visa November 23, 2021 From January 2022, Amazon will no longer accept Visa credit cards. This is a significant move in a landscape of ever-increasing competition for payments, a growing number of incentives for a move away from credit cards and the potential to bypass traditional payments altogether. Whether or not it was a negotiation tactic to put Visa [...]
Brexit migrant exodus not to blame for labour squeeze November 23, 2021 Hundreds of thousands of Brits have stopped working since the start of the Covid-19 crisis, creating a vacuum of workers, according to fresh figures released today. Research by the Resolution Foundation found the number of workers who are economically inactive – which means they are either not working or not looking for work – has [...]
Mass sporting events help bring the UK together and trumpet our shared values November 23, 2021 Britain’s Roger Bannister beating John Landy in the so-called ‘Miracle Mile’ in Vancouver, Canada. Tanzania’s Filbert Bayi crushing the field by blasting out of the gates in the 1,500m in Christchurch, New Zealand. The Commonwealth Games certainly has form in creating history for people and places. Who will capture our imagination next year in Birmingham? [...]
Amazon’s merciless move to block Visa likely to lead to rapid uptake of… Amazon credit cards, which are issued by Mastercard November 22, 2021 Following the news that Amazon will no longer accept payments from UK-issued Visa credit cards, some industry insiders are convinced the e-commerce giant’s decision is a calculated move to drive the adoption of the company’s own payment cards, and will give a competitive advantage to Visa’s main rival, Mastercard. Last week, the online retailer confirmed that Visa credit [...]
Brussels pushes to freeze out London banks in post-Brexit crackdown November 22, 2021 The EU is planning on freezing out London banks by clamping down on the network of national arrangements that allow non-EU banks to sell services to the bloc. Brussels is pushing to cut off avenues for banks operating outside the region to conduct cross-border transactions. The news was first reported by the Financial Times. The [...]
Collision of pandemic and Brexit pushes £18bn loss in travel services trade November 22, 2021 The collision of the pandemic and leaving the European Union (EU) has tipped an £18bn loss in travel services trade, according to the latest figures. While total service exports and imports grew in the second quarter, trade in services remained well below levels seen prior to Covid-19, the Office for National Statistics (ONS) revealed. Weaker [...]
City rumour mill grinds around possible mega private equity offer for Marks & Spencer November 22, 2021 As shoppers prepare for a black Friday spree, the bargain hunt for good value UK companies continues for private equity firms. The rumour mills are now grinding around a possible bid by Apollo Global Management for UK high street staple Marks & Spencer, sending shares 3 per cent higher in early trade. The New York-based private equity giant [...]
Letters: Warning, risk of electric shock November 22, 2021 [Re: It’s about time for Rishi Sunak to make his mind up on on a road tax, Nov 19] In the same way that government’s previously promoted diesel power as the solution to saving energy and the planet, electric vehicles are a similar red-herring. Batteries are not going to save us, as the practicalities of [...]
Political drama has served as a distraction from the crises facing British businesses November 22, 2021 This last two weeks in many ways saw high political drama. A governing party that tried to rig the system so one of its own could continue in a second job that is clearly against the rules. The revelation that a sitting Conservative MP received £133m for test kits which had to be recalled. And uproar across our northern regions when a long standing political promise to deliver rail was outright broken. [...]
Keir’s offensive could put the business vote in play November 22, 2021 AROUND this time two years ago, as we hurtled towards the General Election of 2019, this newspaper published a front-page editorial which urged you, our readers, not to vote for Jeremy Corbyn’s Labour party. Not because of the politics – though high-tax, high-spend has never been our particular brand – but because of the anti-semitism [...]