New role for UKTI in push to boost exports
A new approach to boosting British exports is to be delivered through a transformed UK Trade and Investment (UKTI), the Government has announced. To meet its target of increasing the value of exports to £1 trillion and achieving 100,000 new exporters by 2020, the UKTI is to focus on priority markets and sectors. Business secretary Sajid Javid said: "By putting a refocused UKTI at the centre of a co-ordinated cross-government approach, relevant departments will share expertise to get UK businesses exporting."
Pay has fallen in UK cities despite jobs growth, says report
Almost a million new jobs were created in UK cities between 2010 and 2014; however, pay for city dwellers dropped by 5% in the same period according to new research by think tank Centre for Cities. It has found that 29 of the 63 UK cities studied qualify as "low-wage, high-welfare" economies. Just 14 British cities are achieving "high-wage, low-welfare" economies, with the top three being London, Reading and Aldershot. Eight of these 14 cities are in the South East.
Convenience driving mobile commerce
Consumers are increasingly comfortable using mobile devices to shop, with nearly three quarters (69%) now browsing or buying on their devices - an increase of 10% since 2013 according to BuzzCity. One in five (19%) expect more than 50% of their overall spend to be via a mobile device. Dr KF Lai, ceo of BuzzCity, said: "Key to continuing the appetite for mobile commerce is the user experience. Brands need to perfect fast and secure payment platforms and personalised customer relationship management in order to benefit from the increasing number of shoppers who use the mobile channel."
Have we reached peak iPhone?
With Ikea's Steve Howard suggesting that we have reached "peak stuff", now Apple has warned that sales of its iPhone are likely to fall this year. Apple has reported the slowest growth in iPhone sales since the product's 2007 launch and warned sales will fall for the first time later this year.