The number of “open banking” payments more than doubled last year to 68 million, with small and medium-sized businesses adopting the technology more quickly than consumers.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Fewer people eating out as they cut back on unnecessary spending
Increasing numbers of people are avoiding eating out and more than half have cut back on non-essential spending this year as the cost of living takes its toll, a survey shows.
Moonpig bounces back from Royal Mail strikes to hold on to post pandemic loyalty
Moonpig has reported its largest ever week of sales in the UK thanks to consumers scrambling for Mother’s Day cards.
Tightening SME lending rules ‘deeply irresponsible’: Business groups warn
Increasing capital requirements on SME lending will stifle economic growth and depress the UK’s small business sector, business groups have warned.
Decision on bringing forward UK pension age rise to 68 delayed until after election
A decision on whether to bring forward the date when the state pension age rises to 68 has been postponed until after the next general election, the government has announced.
NatWest and Lloyds to axe a further 81 bank branches
NatWest and Lloyds are to axe a further 81 bank branches as both announced fresh cuts to their high street networks.
Ocado wins robot wars patent case against AutoStore in High Court
Ocado Group has seen off claims from an international rival “goods retrieval” company that alleged the British online retailer and technology group had stolen several of its technology inventions.
Virgin Orbit lays off workforce after funding failure
Virgin Orbit will lay off 85 per cent of its workforce after the satellite launch business failed to find new funding in the face of a cash crunch.
Business confidence hits ten-month high
Business confidence has risen to its highest level in ten months as companies become increasingly optimistic about filling staff shortages, according to the latest Lloyds Bank business barometer.
Carbon capture schemes to share £20bn in funding
A gas-fired power station and plants making low-carbon hydrogen will be among Britain’s first projects to capture their carbon emissions under plans unveiled by the government yesterday.
Welcome rise for UK car production
UK car production rose 13.1% in February, up to 69,707 units, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).
Eamonn Holmes loses appeal over tax ruling
Eamonn Holmes has lost an appeal over a tax ruling associated with his earnings as a presenter on This Morning.
Twitter to no longer only promote paid-for accounts after backlash
Twitter has reversed course on plans to limit presence on its “for you” timeline to paying users only, with Elon Musk claiming he “forgot to mention” that other users would be visible as well.
Mortgage approvals rise for first time in six months
Mortgage approvals rose for the first time since August in a sign that the “worst is in the past”, Bank of England figures show.
We must not forget the lessons of our financial crisis, warns Jeremy Hunt
The government will not reverse post-financial crisis banking regulation, Jeremy Hunt has said, amid growing concerns that Britain is loosening post-Brexit rules for the City.
