The Mayor of London has opted to protect privilege not competition September 14, 2016 Sadiq Khan’s crackdown on London’s private hire industry is a sop to a privileged monopoly that distorts competitive markets and fails to defend consumer interests. As private hire services make inroads into London’s black cab monopoly, the case to protect them from decline and enforce consumer safety may sound reasonable. But Khan’s reforms go beyond safety and are [...]
Halfords’ share price rises as Olympics “cycling heroes” pump up sales in bike arm and group revenue increases September 6, 2016 Halfords' share price was pumped up this morning by a healthy rise in group revenues and news that the Olympics has helped the group offset slower cycling growth from previous quarters. The figures Halfords' group revenue rose 4.8 per cent in the 20 weeks to 19 August, with retail revenue rising 4.8 per cent and its [...]
Mayor of London Sadiq Khan announces new bus ‘Hopper’ ticket will launch next Monday 12 September September 5, 2016 London commuters will get more bang for their bus tickets from next Monday onwards, when the new 'hopper' bus fare system is launched. From Monday 12 September, passengers will be able to change onto another bus or tram for free within one hour of touching in at the start of their journey. It will be automatically given [...]
Big banks can’t be allowed to hijack blockchain and digital currencies September 1, 2016 Digital currency and the technology that underpins it, blockchain, are still so young that nobody has worked out what they're really for yet. In this world of cutting-edge technology and pioneering disruption, we must make sure big banks and financial institutions don't try and force this new technology into old models. Last week, major financial intuitions comprising [...]
The mobile payments battle just intensified in the UK August 23, 2016 iZettle is likely a familiar sight if you frequent small coffee shops or market stalls across the capital. The tiny card reading machine has sprung up across the UK, making it easier for shops to offer customers the option of paying by card without having to invest in the pricey systems offered by the big tech companies. [...]
How one simple tech trick saved HSBC customers millions August 22, 2016 It may be all about open banking APIs and blockchain in the geeky world of fintech right now, but banking giant HSBC used one incredibly simple piece of technology that's been around for years to save its customers millions of pounds. The humble text message, first devised in 1984 with the first message making its [...]
We’ve already spent more via contactless than in all of 2015 August 22, 2016 People are swiping their card rather than splashing the physical cash these days as new figures reveal payments made with contactless technology have already overtaken the amount spent in the whole of 2015. Just over £9bn was spent using contactless in the first half of the year compared to £7.75bn in the the entire of last year, the new [...]
Make £££ interest on top current accounts this year August 17, 2016 Savers have been dealt a double whammy of blows this month. The Bank of England cut interest rates from their already-record low of 0.5 per cent down to a paltry 0.25 per cent, which is likely to have an impact on the already poor levels of interest paid on savings accounts. The 0.5 level was considered [...]
Do you take contactless cards? How about dog leads? These are the 10 items Britons want to be contactless payment-enabled August 16, 2016 Contactless payments may already be ubiquitous here in the City, but with the ever-encroaching tide of the Internet of Things people might start using some slightly more unusual payment methods in the future. Contactless technology is used to make around seven million transactions per day in the UK, but what about cufflinks? Watches? Even your [...]
The UK has just experienced the highest jump in card fraud in Europe. Here’s why August 4, 2016 Card fraud is regarded as an unpleasant fact of life by many – but it turns out things are looking worse in the UK than anywhere else in Europe. According to research by software analytics firm Fico, the UK experienced an 18 per cent jump in card fraud losses in 2015 – the highest of any [...]