Sirius News Bulletin – 15th January 2021
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
Covid-19
Face coverings standard now available
BSI has published a new standard for community face coverings to ensure single-use and reusable face coverings are safe and fit for purpose.
Read more about the standard at: https://www.retailtimes.co.uk/bsi-community-face-coverings-standard-now-available/
Expansion of Dormant Assets Scheme
The UK Government has announced that dormant assets across the insurance and pensions, investment, wealth management and securities sectors are set to be unlocked, with the potential for more than £800 million to be made available to support the UK’s recovery from the coronavirus pandemic.
Read more about the scheme at: https://www.gov.uk/government/news/uk-government-announces-major-boost-to-coronavirus-recovery-through-expansion-of-dormant-assets-scheme
MPs launch inquiry into Covid-19 impact on night-time economy
The newly formed All-Party Parliamentary Group for the night-time economy has launched an inquiry into the devastating impact of Covid-19 on nightlife in the UK.
Read more about the inquiry at: https://www.bighospitality.co.uk/Article/2021/01/11/MPs-launch-inquiry-into-Covid-19-impact-on-night-time-economy
Consumer finances at risk in Covid crisis
About 4,000 City firms are at a heightened risk of failure due to the Covid crisis, and nearly a third of those businesses could potentially harm consumers if they collapsed, according to the Financial Conduct Authority.
Read more about the risk at: https://www.theguardian.com/business/2021/jan/07/consumer-finances-at-risk-as-4000-city-firms-face-collapse-in-covid-crisis
Brexit
Post-Brexit red tape hits Scottish seafood exports
UK seafood producers are being priced out of export markets by European competition, following continued delays at EU ports and poor preparation from Government, according to Scottish food trade bodies.
Read more about the problem at: https://www.foodmanufacture.co.uk/Article/2021/01/11/Post-Brexit-red-tape-hits-Scottish-seafood-exports-NI-trade
Northern Ireland facing food supply disruption
Northern Ireland is facing disruptions to its food supply because suppliers in Great Britain are unaware of the required Brexit-related paperwork.
Read more about the disruption at: https://logistics.org.uk/media/press-releases/2021/january-2021/logistics-uk-comment-on-reports-of-disruption-to-n
EU businesses stop UK deliveries due to Brexit measures
Small businesses across the EU have stopped sending supplies to the UK to avoid customs declarations and registering for VAT.
Read more about the story at: https://www.theneweuropean.co.uk/brexit-news/westminster-news/eu-firms-stop-uk-deliveries-due-to-brexit-6881640
Technology
Used smartphone sales near double-digit growth in 2020
IDC expects worldwide shipments of used smartphones to increase by 9.2% in 2020. IDC also predicts that used smartphone shipments will reach 351.6 million units in 2024, with a compound annual growth rate of 11.2% from 2019 to 2024.
Read more about the prediction at: https://www.computerweekly.com/news/252494563/Used-smartphone-sales-to-dial-in-near-double-digit-growth-in-2020
CMA to review cookies and privacy
The Competition and Markets Authority (CMA) is reviewing proposed privacy changes to Google’s Chrome browser that could be seen as anti-competitive.
Read more about the review at: https://www.computerweekly.com/news/252494543/Competition-and-Markets-Authority-battles-with-cookies-and-privacy
Drone users face new rules across UK and Europe
New rules have come into force governing how drones are operated. The changes include the removal of the distinction between commercial and recreational use, clearer information about where drones can be flown and making tracing of ownership more streamlined.
Read more about the rules at: https://www.shponline.co.uk/legislation-and-guidance/drone-users-face-new-rules-across-europe-and-uk/
Retail
Biggest fall in UK retail sales since 1995
In 2020, UK retail sales suffered the biggest fall in 25 years as the closure of non-essential shops during lockdowns more than outweighed the online spending boom fuelled by Covid-19.
Read more about the fall at: https://www.cityam.com/retail-sales-suffer-worst-year-on-record-as-lockdowns-bite/
UK automotive looks to green recovery strategy
New car sales fell by 29% in 2020, with annual registrations dropping to 1,631,064 units, the lowest level since 1992, according to the Society of Motor Manufacturers and Traders. However sales of electric cars with battery and plug in hybrid vehicles increased by 10.7%.
Read more about the figures at: https://www.smmt.co.uk/2021/01/uk-automotive-looks-to-green-recovery-strategy-after-29-4-fall-in-new-car-registrations-in-2020/
Property sales and management
Reforms to make it easier for leaseholders to buy homes
The Ministry of Housing, Communities & Local Government has announced that leaseholders in England are to be given the right to extend their leases by up to 990 years at zero ground rent. Traditionally used for flats but also applied to new builds, leasehold means the deedholder does not own their home outright and must usually pay an annual ground rent to the freeholder.
Read more about the reform at: https://www.publicsectorexecutive.com/articles/reforms-make-it-easier-leaseholders-buy-homes
DISCLAIMER While all reasonable efforts have been made, the publisher makes no warranties that this information is accurate and up-to-date.
© Cobweb Information Ltd 2021