Sirius Bulletin - 21st March 2022
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
SCA becomes mandatory
Online retailers who are not set up for strong customer authentication (SCA) risk losing £3.64 million every day. SCA, which become mandatory on 14 March, affects the way banks and other payment service providers check that the person requesting access to an account or trying to make a payment is permitted to do so.
Read more about SCA at: www.chargedretaiI.co.uk/2022/03/14/onIine-retailers-sca-ma ndatory
Outdoor ceremonies made permanent
Rules that allowed outdoor weddings at licensed venues in England and Wales during the pandemic have been made permanent. The rule change has received overwhelming support from the public, faith groups and the wedding industry.
Read more about the rules at: www.gov.uk/government/news/outdoor-civil-weddings-and-civil-partnerships-made-permanent
Recovery threatened by Ukraine crisis
In January 2022 construction output reached its highest level since September 2019. However, the impact of the conflict in Ukraine is likely to worsen the current challenges around the cost and procurement of building materials.
Read more about the challenges at: www.fmb.org.uk/resource/construction-s-recovery-threatened-by-ukraine-crisis.html
Food and drink
Sector recovers in January
The food and drink manufacturing sector recovered strongly in January 2022, with food production 6.4% higher than in December 2021. However the food and drink sector will be hit with substantially higher operating costs due to the effects of the conflict in Ukraine.
Read more about the recovery at: www.fdf.org.uk/fdf/news-media/news/2022-news/economic-insights/food-and-drink-sector-recovers-in-january
Initiatives to recruit Ukrainian refugees
A consortium of UK businesses has launched an initiative to make it easier to offer employment to Ukrainian refugees. A jobs board, JobsForUkraine.net, has also been launched which has more than 1,700 placements listed.
Read more about the initiatives at: www.personneltoday.com/hr/uk-businesses-join-consortium-to-recruit-ukrainian-refugees
Fewer closures during pandemic
According to the Third Sector Research Centre, the pandemic did not result in an increase in charity closures. However, fewer charities were created during the pandemic.
Read more about the research at: www.civilsociety.eo.uk/news/fewer-charity-closures-during-pandemic-than-in-previous-years.html
Ukraine crisis could lead to drop in production
Farm leaders are warning of a double-digit drop in food production by 2023, unless urgent action is taken by Government to address the fallout from the Ukraine crisis. The effect of the crisis on energy, fertiliser, grain and labour costs is adding inflationary pressure and market volatility.
Read more about the warning at: www.fwi.eo.uk/business/markets-and-trends/input-prices/ukraine-war-could-trigger-double-digit-fall-in-uk-food output
Projects threaten food security
MPs have challenged the Government to introduce stricter controls to ensure large-scale solar projects are not built on good agricultural land, threatening domestic food security. There are fears that large-scale solar projects will blight the countryside and lead to the loss of productive farmland.
Read more about the challenge at: www.fwi.co.uk/news/environment/large-scale-solar-farms-a-threat-to-food-security-mps-warn
Increase in mobile shopping
The UK is leading the surge in mobile shopping, with seven in ten consumers shopping more on mobile devices and apps. The increase is a direct result of new post-pandemic shopping habits.
Read more about the increase at: www.chargedretail.co.uk/2022/03/16/mobile-shopping-uk-klarna
DISCLAIMER While all reasonable efforts have been made, the publisher makes no warranties that this information is accurate and up-to-date.