Author Archive
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£16m in funding for agri-tech
Twenty-four innovative agri-tech projects have been awarded a share of £16 million funding through the latest round of the Government’s Agri-Tech Catalyst scheme. Successful projects in the fifth round include the development of a robot that accurately eliminates and controls weeds, which will significantly reduce the use of herbicides in food production. Another project will look at why potato greening ...
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UK business confidence falls
UK business confidence levels fell by 26 points to 6% in the past month, according to the latest Business Barometer from Lloyds Bank Commercial Banking. The survey was conducted in the week after the EU referendum - overall confidence fell to the lowest level for over four years but remained above the lows seen during the global financial crisis. Despite this general shift downwards there are some positive signs. Although confidence and ...
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Business rates appeal reforms
Businesses in England should soon benefit from a quicker and more efficient service for their business rates issues with the launch of a new “check, challenge, appeal” process that should see genuine disputes settled more quickly. The Government is launching the online process in April 2017 after which businesses will be offered a three-stage process:
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Digital Economy Bill underway
The Government has introduced the Digital Economy Bill to Parliament in a move that should pave the way for the introduction of a new Broadband Universal Service Obligation – giving all homes and businesses the legal right to have a fast connection installed if they request it. The Bill should also give consumers the power to switch suppliers with ease, including ...
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UK’s sharing economy leads the way
Total transactions for the UK’s five most prominent sharing economy sectors – collaborative finance, peer-to-peer accommodation, peer-to-peer transportation, on-demand household services and on-demand professional services – could see a 20-fold increase to £140 billion by 2025, up from £7 billion today, according to new analysis by PwC. Over the past year the UK’s sharing economy has grown faster than the ...
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CMA alert on resale price breaches
The Competition and Markets Authority (CMA) has written an open letter to businesses alerting them that if suppliers restrict their retailers’ prices, they can be breaking the law. The letter follows two recent cases in which businesses were fined a combined total of over £3 million for engaging in resale price maintenance (RPM).
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EIB and Funding Circle join forces
The European Investment Bank (EIB) has agreed a £100 million investment in loans to UK small businesses originated through Funding Circle. The investment, alongside £25 million from the Funding Circle SME Income Fund, will enable over £200 million of new loans over seven years, and provides a further injection of funding into the UK’s small business sector. This new partnership with Funding Circle represents the first deployment of EIB funding through a direct lending marketplace to support ...
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Output growth subdued in May
Output growth remained subdued across England and Wales in May, according to the latest Lloyds Bank Regional Purchasing Managers’ Index. The weakness reflected a deteriorating trend in the flow of incoming new work, with job creation slowing as a result. The business activity index for England – which tracks changes in the combined output of the manufacturing and service sectors – registered 53.3 in May, up from April’s 37-month low of 52.1, but still one of ...
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BBA in trade association merger
The British Bankers’ Association (BBA) is to merge with three other bodies to form a new group representing the UK finance sector. The BBA will join the Council of Mortgage Lenders, Payments UK and UK Cards Association in a new trade association, after 94% of its voting membership found in favour of the proposal. The move is in response to the proposed consolidation set out by The Financial Services Trade Associations Review, which considered the wide range of ...
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UK’s first driverless car policy
Adrian Flux has launched the UK’s first personal driverless car policy. The insurer hopes the new policy will encourage debate and discussion around the issue of liability and autonomous technology - the policy is designed for consumers who may already have driverless features in their existing cars, such as self-parking, or who may be thinking of buying a new car with driverless or autopilot features. Gerry Bucke, general manager for Adrian Flux, ...
