After Amazon’s dramatic move to block Visa credit cards, businesses sound the alarm: Card fees are out of control November 20, 2021 E-commerce giant Amazon confirmed to City PM yesterday that it intends to stop accepting payments made using UK Visa credit cards from early next year. The online retailer said that Visa credit cards issued in the UK will be blocked from use on its site from January 19. The move sent shockwaves through Britain’s consumer [...]
Welsh and Scottish ministers sound alarm bells over impartiality in appointment process for new Ofcom chair November 20, 2021 A group of Scottish and Welsh ministers have said they are “extremely concerned” about a “perceived lack of impartiality and transparency” in the process to appoint a new Ofcom chair. The four-strong group has written to Culture Secretary Nadine Dorries asking to be included in the process and given a role which ensures the selected [...]
China hands out new fines to tech giants in anti-monopoly crackdown November 20, 2021 Chinese tech giants including Alibaba Group and Tencent Holdings have been fined for failing to report corporate acquisitions, adding to an anti-monopoly crackdown by the ruling Communist Party. The companies failed to report 43 acquisitions that occurred up to eight years ago under rules on “operating concentration”, according to the State Administration for Market Regulation. [...]
British Business Bank’s oversight of Greensill was ‘woefully inadequate’ with £335m of taxpayers’ money at risk November 20, 2021 A new report has warned that up to £335m of taxpayers’ money is at risk due to failures by the British Business Bank to properly scrutinise bust lender Greensill Capital. The Public Accounts Committee of MPs found that the bank, which oversaw the billions lent to businesses during the pandemic in loans backed by the [...]
EU: ‘change in tone’ from UK but post-Brexit trade deal is ‘linked’ to solving Northern Ireland Protocol November 19, 2021 European Commission vice president Maros Sefcovic has said the post-Brexit trade deal is “intrinsically linked” to settling the Protocol. Sefcovic was speaking at the Brexit Institute at Dublin City University, immediately before negotiations with Lord David Frost. Sefcovic said: “Settling the divorce has always been and remains a precondition for our future relationship. “It was [...]
Founder of tech firm where David Cameron chaired advisory board steps down after sexual assault claims November 19, 2021 The founder of a tech group at which former prime minister David Cameron was an adviser has stepped down amid allegations of sexual harassment. Zia Chishti, who founded Afiniti, was accused this week of pressuring a former employee into having sex with him on a business trip, when it was also alleged he beat her. [...]
Checking out: Ryanair confirms plans to delist from London Stock Exchange November 19, 2021 Ryanair is leaving the London Stock Exchange amid rising admission costs in a move that could be seen as a post-Brexit snub.
MP register update shows Boris Johnson used Heathrow lounge and Geoffrey Cox pocketed another £54k November 19, 2021 The latest update to the register of MPs’ interests shows that Prime Minister Boris Johnson was given use of the Windsor Suite at Heathrow Airport for three people on October 7, before he flew to Marbella on holiday. The Windsor Suite is a VIP lounge at Heathrow and has been used by royals including the [...]
Dyson opens virtual reality store that mirrors physical demos experiences November 19, 2021 Dyson has opened a virtual reality store to allow customers to try out its products before choosing to buy them. The new Dyson Demo VR experience, accessible via virtual reality headsets, sees users able to examine and test virtual versions of the firm’s hair Corrale straighteners, Supersonic hairdryer or Airwrap styler on strands of virtual [...]
Consumer confidence edges up despite inflation and supply chain woes November 19, 2021 Shoppers put aside concerns about soaring inflation and supply chain woes and spend in the run-up to Black Friday and Christmas, leading consumer confidence to edge up, according to new data published this morning. GfK’s long-running Consumer Confidence Index increased three points to minus 14 in November following a three-month downturn. A seven-point jump in [...]
