Your commercial news round-up: Bitcoin, Nike and Puma trademark dispute, flexible season ticket

The third step in the government’s roadmap out of lockdown was given the go-ahead on Monday, with hospitality venues now able to serve customers indoors, and friends and family permitted to hug again. That said, with covid-19 dominating the news over the past year, it is important for aspiring lawyers to take a step back from covid-related news and think about what else has been happening. What news is relevant to your target firms and their clients?

So, what other notable stories are in the news this week? Read LCN’s round-up below for some updates to keep you in the loop. If you’re interested in a particular story, delve into it further and start developing your commercial awareness.

• The price of Bitcoin plummeted below £24,030 on Wednesday, as China introduced further restrictions, including the capital Beijing banning banks and payment firms from offering services relating to crypto-currency transactions. Ether and Dogecoin also lost value – around 22% and 24% respectively, according to BBC News.

• The trademark dispute between sporting retail giants Nike and Puma continues, following Nike’s intention to trademark the term ‘footware’ in the US and UK. Nike plans to use the term in connection with tech-driven products defined as “computer hardware modules for receiving, processing, and transmitting data in Internet of things electronic devices; electronic devices and computer software that allow users to remotely interact with other smart devices for monitoring and controlling automated systems”. The two parties appeared before the High Court of Justice in London earlier this week. Puma has been fighting to block Nike’s trademark application with the UK Intellectual Property Office and the US Patent and Trademark Office.

• UK railway passengers will be able to purchase a flexible season ticket from 21 June, with additional pay-as-you-go options introduced, as well as contactless and digital ticketing on smartphones. This railway modernisation is part of plans outlined in the long-awaited Williams-Shapps review, which was recently published by the Department for Transport (DfT).

• Meanwhile, Eurostar has secured a £250 million rescue deal from banks and investors as it continues to “fight for survival” due to the impact of covid-19 on the travel sector. There is currently only one service running per day from London St Pancras and Paris Gare du Nord, and one a day between Amsterdam and Brussels. There are plans for more services to be added if lockdown restrictions continue to ease.

• A 12-month trial of rental e-scooters will begin in London next month. The City and Canary Wharf will be among the first areas to test the system, with additional boroughs due to be added. Lime, Dott and Tier are the operators taking part in the trial, following the government’s plans to legalise e-scooter rental services run by local authorities announced last year. Among other things, the trial will test safety as a key priority with requirements including a maximum speed of 12.5mph, permanent lights on the front and rear of the scooters and audible warning systems. The scooters will only be permitted on roads and cycle paths.

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