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…
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). RPM occurs…
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…
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…
Small and medium-sized towns and cities (SMCs) are essential to boosting growth in the Northern Powerhouse, according to a new report from think tank, IPPR North. The research finds that the North’s smaller cities represent one third of the Northern economy and play a key role supporting the growth of their bigger neighbours. The report…
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…
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…