The UK government has struck a deal with Czech billionaire Daniel Křetínský’s EP Group to secure the future of Royal Mail, a move that could have significant implications for the postal service in the UK. The agreement, announced on 16 December, includes legally binding commitments aimed at maintaining Royal Mail’s services, workforce protections, and its headquarters in Britain.

The Competition and Markets Authority (CMA) has started a consultation on draft guidance on the protection from unfair trading provisions in the Digital Markets, Competition and Consumers (DMCC) Act 2024. Chapter 1 of Part 4 of the DMCC Act includes provisions on unfair commercial practices that replace and update the Consumer Protection from Unfair Trading Regulations 2008.

Additional import controls have been introduced to protect UK sheep and goats against ‘peste des petits ruminants (PPR)’. As from 18 December 2024, commercially produced and packaged sheep and goat milk and milk products are not permitted from Bulgaria. This is because of an outbreak of PPR in Bulgaria last month.

Domestic trade marks can now be partially replaced by international registrations. Even where only some of the goods and services are listed in the domestic registration, this will still be possible. Previously, the regulations only allowed replacement when the international registration covered all the goods and services listed in the domestic registration.

Last week, the UK joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in a move designed to grow the UK economy. Estimates suggest that it could add £2 billion to the economy in the long run. The CPTPP is a trade bloc that includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The UK joining brings the combined GDP of the bloc to £12 trillion.

The UK Government has announced new measures to ensure online marketplaces and vape producers contribute fairly to the costs of recycling electrical waste. Circular Economy Minister Mary Creagh revealed the plans last week, marking a significant step towards creating a circular economy and supporting UK retailers.

Those of us that rely on a coffee-fix to get the day started may see this get more expensive. Coffee prices on international commodity markets soared to their highest level on record last week. The price for Arabica beans, the most used beans in global production, increased to $3.44 a pound, increasing by more than 80% this year. Robusta beans similarly reached a fresh high in September.

British pork producers are celebrating a major breakthrough as China’s Covid-era restrictions on UK unprocessed pork exports were ended. Industry estimates suggest this development could boost revenues by around £80 million, offering significant benefits to UK farmers and the economy.

Chancellor Rachel Reeves spoke last week at a meeting of EU finance ministers as part of the government’s attempt to perform an economic reset with the EU. It was the first time a UK chancellor has attended such an event since the UK left the EU. The Chancellor spoke about tackling shared challenges including the war in Ukraine, championing free trade as a driver of economic competitiveness, and strengthening bilateral economic partnerships.

A new Business Growth Service has been launched that is designed to help businesses across the UK to get quicker and easier help, support and advice. The new service has been initiated in response to small businesses finding the business support landscape fragmented and complex. Only 26% of UK SME employers reported that they sought external advice or information in 2023.

The government’s promised new Fair Payments Code was launched last week to try and tackle late payment problems that can be particularly harmful to small businesses. The code introduces a gold, silver, and bronze system that smaller firms can use to identify business partners who have made themselves accountable to pay fairly and within certain time limits.

New changes come into effect from January 2025 where online platforms, such as eBay and Airbnb, will start sharing some user sales and personal data with HM Revenue and Customs (HMRC). Although these reporting requirements have caused concern, HMRC have confirmed that there are no changes to the tax rules for someone selling unwanted possessions online.

In the runup to Small Business Saturday last week, a new Disability Finance Code was launched. Research indicates that if opportunities were improved for disabled founders, it could unlock an additional £230 billion for the UK economy in growth and jobs. Barclays, HSBC, Lloyds and NatWest have all signed up to this new scheme to help more disabled entrepreneurs get access to finance and support to start their own business.

The Transport Secretary has revealed that South Western Railway’s services will be the first to transfer into public ownership in May 2025. C2C will be transferred in July 2025, with Greater Anglia following in autumn 2025. The Department for Transport expects to transfer all passenger services that are currently being operated under contracts to public ownership within the next 3 years.

The UK Atomic Energy Authority (UKAEA) reported last week that its scientists and engineers along with the University of Bristol have successfully created the world’s first carbon-14 diamond battery. A battery of this type has the potential to provide power for thousands of years, making it a very convenient and long-lasting energy source.