Say bye to linen and leather, and welcome digital clothing and the metaverse December 29, 2021 The latest feature of the metaverse is here: brace yourself for digital clothing. Cyber outfits are completely sustainable – not least because they don’t have any physical presence in the real world. Digital clothing is at the forefront of innovation, and at the crossroads of the digital and the real world. Surely Mark Zuckerberg already [...]
Best of the year: the business stories of 2021 December 29, 2021 Back in April, Credit Suisse got entangled in a “disaster pile-up” involving Greensill and Archegos. Eliot Wilson wrote of how the Swiss bank lost billions of dollars because of its relationship with the US based hedge fund Archegos and the now infamous Greensill Capital. This kind of economic catastrophe happens when banks have risk management [...]
As we enter the third year of the pandemic, we need to grit our teeth and learn to live with it December 28, 2021 It seemed, for a while, as if this year might be better than the last, with the pandemic on the wane, retail and hospitality beginning to reopen and a hint of normality being felt in the public square. The onset of the omicron variant over the past few weeks has been a blow: although it [...]
Best of the year: a look at foreign politics, from Afghanistan to China December 27, 2021 Australia was in the midst of a social media storm in February, when it tried to force tech giants to pay for linked news content on their platforms. Things went terribly wrong, wrote Anna-Sophie Harling, as Facebook proceeded to block all news content on its platform. Australian users were kept in the dark, unable to [...]
If the government wants to go green, housing accessibility can’t rely on cars December 27, 2021 Between 2015 and 2019, a total of 2,743 new major residential developments were approved in England. It was a record number, with 170,000 homes built in the year ending in June 2019 alone – the highest number for 11 years. The then Housing Secretary Robert Jenrick said it was his mission to “get Britain building.” [...]
As Meta appeals the CMA’s slap down over the Giphy acquisition, we must steer clear of watchdog intervention December 26, 2021 It seems to have become accepted wisdom that big tech firms are too dominant and need to be broken up and regulated. This a narrative spun by a belief that bias from Silicon Valley creates unbalanced debate; it is also, generally speaking, the view of the elite – amongst many academics and the leadership of [...]
Best of the year: Political opinion and Westminster analysis to make sense of 2021 December 25, 2021 Artificial intelligence has been at the very centre of the news agenda this year, with the government announcing a national AI strategy as part of its “levelling up agenda”. But how can ministers make use of this technology and regulate it if they don’t understand how it works? Brian Mullins was making this point back [...]
Investec: Come new year, confidence in battle-hardened British businesses will return December 23, 2021 It is no secret that global investors have been underweight on the British stock market in recent years. Some have taken a cautious, “wait and see” approach as the economic and geopolitical fog clears, while others highlight more fundamental problems, namely a lack of high-quality technology and high growth businesses poised to thrive in the [...]
Three Christmas presents for a Cabinet that lacks political grip December 22, 2021 At this time of the year hapless members of the Cabinet, and even the Prime Minister himself, are entitled to some charity. We might usefully consider the gifts we would put under their trees on Christmas morning. Top of the list could well be both a Peloton and a deckchair. Sarah Healey, permanent secretary at [...]
Britain’s creative industries are essential to the economy, but imagination must shape all our businesses December 22, 2021 Let’s start with the good news. The UK economy is set to grow by 6 per cent in 2022. Admittedly this forecast, set by the OBR, was before we knew about the Omicron variant. But we must remain optimistic that the economy can continue to bounce back from the shockwave of the virus. When we [...]