One-Size-Fits-All Devolution Could Hold Back Local Business Growth, New Report Warns

As England's devolution agenda continues to gather pace, a new report is warning that a "one-size-fits-all" approach could leave many local economies struggling to reach their full potential.

The report, Everything in its right place: establishing strong organisations and practices for successful devolution, published by the independent think tank Localis in partnership with Local Partnerships, argues that ministers should move beyond simply replicating the Greater Manchester metro mayor model across the country.

Instead, it says devolution must reflect the unique economic realities of different regions if local businesses are to benefit from genuine growth opportunities.

For business owners, investors and employers, the findings could have significant implications.

Many areas of England still lack the strategic powers enjoyed by more established combined authorities. According to Localis, continuing to prioritise these mature devolved regions risks widening economic gaps between different parts of the country and leaving key decisions concentrated in Whitehall rather than in local communities.

The report argues that economic growth strategies should be tailored to local circumstances. While some regions are built around a major city, others rely on networks of towns, rural communities and local supply chains. Applying the same governance model everywhere may overlook these differences and limit the ability of local leaders to support business growth effectively.

For local firms, better-targeted devolution could mean improved transport links, more responsive skills programmes, stronger infrastructure planning and investment decisions that reflect local economic needs rather than national priorities.

One of the report's most eye-catching recommendations is a call for greater fiscal devolution. This could eventually include giving strategic authorities more control over locally raised revenues and even exploring options involving income tax or VAT distribution.

Supporters argue that greater financial autonomy would allow local leaders to invest more directly in projects that stimulate business activity, create jobs and attract inward investment.

The report also highlights the importance of clarity as local government reorganisation continues across England. With new unitary councils being created, Localis says responsibilities between councils and strategic authorities must be clearly defined before new structures become entrenched.

For businesses, this matters because uncertainty over who controls planning, transport, economic development and investment decisions can slow progress and create unnecessary barriers.

Localis senior researcher Sandy Forsyth said devolution should provide regions with the flexibility to respond to their own economic circumstances rather than being constrained by top-down structures.

The message for local businesses is clear: successful devolution isn't just about changing governance. It's about ensuring local economies have the tools, powers and resources needed to drive growth on their own terms. If policymakers get that balance right, businesses across England could be among the biggest winners.

https://www.localis.org.uk

London Workers Defy Tube Strikes as Office Attendance Remains Strong

New data reveals 83% of London office workers still attended work during recent Tube strikes, with cycling and flexible commuting helping businesses stay productive.

When London’s latest Underground strikes were announced, many businesses braced themselves for empty offices, disrupted meetings and a major dip in productivity.

But according to new workplace data, Londoners had other ideas.

Research from workplace meals provider Feedr reveals over 83% of office workers still made it into the workplace and ordered lunch as normal during the recent strike week. That's a surprisingly strong attendance rate and a significant improvement on the September 2025 Tube strikes, when office attendance fell to 77%.

The findings suggest that London's workforce is becoming increasingly resilient, adapting quickly to transport disruption rather than simply staying at home.

Feedr's unique data provides a reliable snapshot of office attendance because employees only use its Cloud Canteen meal ordering service when they are physically present in the workplace. In other words, lunch orders offer a real-time picture of who's actually sitting at their desk.

While strike days still caused a noticeable dip, the overall picture was far more positive than many employers expected.

One of the biggest reasons appears to be changing commuting habits.

As Tube services were disrupted, many workers turned to alternative forms of transport, particularly cycling. Data from bike-sharing subscription platform CycleSaver showed a remarkable 200% increase in applications for smaller subscription minute bundles during the April 2026 strike period. The company also reported an 80% increase in new subscriptions compared to the previous month.

The figures highlight a growing trend towards multi-modal commuting, where workers combine cycling, walking, buses and other transport options to avoid relying solely on the Underground.

Katie Fenton, Managing Director of Feedr, believes London has become far better at adapting to disruption. She told That's Business: "We expected Tube strikes to hit much harder than they did," she said. "What the data actually shows is a city that's learned to flex around disruption. The workforce is becoming more adaptable."

CycleSaver founder Dino Bertolis agrees, pointing to shared city bikes as a practical solution for modern commuters. "Shared city bikes are giving Londoners a genuine, flexible alternative to the London Underground," he explained. to us. 

"The more employees have access to schemes like CycleSaver, the less dependent they become on any single mode of transport."

The findings also reveal an important lesson for employers. Companies that invest in workplace perks such as quality catering, subsidised lunches and cycling initiatives appear to be more successful at encouraging employees into the office, even when travel becomes challenging.

As hybrid working continues to evolve, businesses may be discovering that flexibility, convenience and a positive workplace experience are becoming powerful tools for maintaining attendance during unexpected disruptions.

For London's workforce, it seems the days of transport strikes bringing the city to a standstill may be fading into the distance.

Hidden AI agents could become the new gatekeepers of commerce, warns new Fintech 2040 paper

A new Fintech 2040 paper from Professor Roland Frank explores how AI agents are moving from passive assistants to autonomous actors capable of searching, selecting and purchasing products on behalf of consumers, fundamentally reshaping the future of ecommerce and payments.

The paper, Agentic Commerce: China’s Lead, Europe’s Choice, argues that the next battleground in digital commerce will no longer be consumer attention alone, but the hidden "trust and protocol layer" behind AI-driven transactions.

While companies once competed for clicks, rankings and conversions, the rise of agentic commerce shifts competitive advantage toward machine-readability, payment authority, trusted execution and interoperability between AI systems.

China already offers an early glimpse of this future. Ecosystems such as Alibaba's Qwen and ByteDance's Douyin show how AI agents can seamlessly combine commerce, payments, recommendation systems and digital services into highly integrated consumer environments.

Yet consumers are not ready to hand over the keys completely. A recent representative consumer survey conducted by Riverty and Adyen found that while many consumers are open to AI-assisted shopping, 93% want the ability to review or stop AI purchasing decisions at any time. 

Most respondents would only allow AI agents limited spending authority and expect full transparency around how decisions are made.

These findings reinforce one of the paper's central conclusions: the future of agentic commerce will be determined as much by trust as by technology.

For Europe, this creates a strategic choice. Rather than copying highly integrated platform models from China or the US, the paper argues that Europe could build a different model of agentic commerce, one based on interoperability, transparent permissions, trusted payments and consumer accountability.

The paper is part of Riverty's Fintech 2040 series exploring the long-term transformation of financial services, digital commerce and consumer behaviour.

Download the full paper here: https://www.riverty.com/en/business/company/fintech-2040/

The Death of the Department Store: A Retail Warning That Came True

Back in 2016, when home delivery specialist Parcelhero published its report 2030: The Death of the High Street, many people viewed its predictions as overly pessimistic. 

After all, Britain's department stores had been a fixture of town centres for generations.

Fast forward ten years, and the report now looks remarkably accurate.

According to Parcelhero's latest follow-up report, 2030: The High Street Fights Back?, over 83% of the UK's department store space has disappeared since 2016. 

What was once one of Britain's most recognisable retail sectors has been dramatically reshaped by changing consumer habits, online shopping and the lasting impact of the pandemic.

In 2016, there were still 467 large department chain stores operating across the UK. By 2021, that number had fallen to just 79.

The list of casualties reads like a history of British retail. Familiar names such as BHS, Debenhams, Beales, Allders and House of Fraser have either disappeared entirely or been reduced to a fraction of their former size.

Perhaps the most significant loss was Debenhams. Founded in 1778, the retailer survived for more than two centuries before its final stores closed in 2021. Today, the brand survives only online.

Parcelhero's original report highlighted warning signs that were already visible a decade ago. Many department store businesses were struggling financially, while others were carrying significant losses. The report argued that traditional department stores were facing pressure from two directions.

First came the rise of supermarkets expanding into clothing, electronics and homeware. Then came the game-changer: e-commerce.

Online retailers offered consumers convenience, competitive pricing and an almost unlimited range of products without requiring a trip into town. For many department stores, adapting quickly enough proved impossible.

The Covid-19 pandemic accelerated trends that were already well underway, pushing some struggling retailers beyond the point of recovery.

There are, however, important lessons for today's businesses. The retailers that have survived have generally embraced digital transformation rather than resisted it. Successful brands have invested in seamless online experiences while using physical stores to complement their digital offering.

The decline of the department store is about far more than retail nostalgia. It serves as a powerful reminder that no business model is immune to disruption.

For companies in every sector, the message is clear: adapt to changing customer behaviour or risk becoming part of business history.

The full Parcelhero reports offer a fascinating insight into one of the most dramatic transformations in modern British retail. https://www.parcelhero.com/en-gb/resources/ebooks/