WTO blames trade war tariffs for weakest global trade in nine years February 19, 2019 Global trade is about to hit its lowest level in nearly nine years, warned the World Trade Organization (WTO) today, as international tensions and political uncertainty weigh on countries . The WTO's latest forecast warned that trade would fall below its baseline index value of 100 to 96.3 in the first quarter of 2019, the lowest reading since [...]
MPs urge government to slap penny tax on new clothes in bid to cut fashion industry waste February 19, 2019 An influential group of MPs has called for a 1p tax on new clothes in a bid to tackle consumer waste within the fashion industry. The penny tax, which would be levied on every new item of clothing sold by Britain’s retailers, has been proposed this morning by the cross-party Environmental Audit Committee to raise [...]
Twitter is great, just don’t make an Elon Musk-sized mistake February 18, 2019 Despite a staggering $20m personal fine from the US finance watchdog the SEC and the loss of his chairmanship at Tesla for an errant tweet, we learned last week that Elon Musk’s 280-character updates have won the approval of Twitter co-founder Jack Dorsey, aka @Jack. “He’s focused on solving existential problems and sharing his thinking [...]
Forget social networks – the future is community media, says the boss of Disciple Media February 18, 2019 In February last year, Matt Hancock (then culture secretary, now health secretary) launched his own smartphone app, imaginatively titled… “Matt Hancock”. Many scoffed at the idea of an MP thinking themselves so important that they needed an app. And there were jokes about how the app asked for user consent: “Matt Hancock would like to access [...]
Tech giants should be held to compulsory ‘code of ethics’, MPs say February 18, 2019 Facebook and other tech giants should face stricter regulation to tackle the spread of fake news and misuse of personal data, MPs said today. Facebook founder and chief executive Mark Zuckerberg was harshly criticised in the final report on disinformation by the Department of Culture, Media and Sport (DCMS) Select Committee, having declined several invitations to attend [...]
A brave new driverless future? Let’s separate fact from fiction February 18, 2019 You can’t browse the internet without seeing a sensational headlines announcing the imminent ascendency of the driverless car. “Fully driverless cars could run on UK roads by end of year”, “Britain’s driverless revolution will be a car crash as safety rules are recklessly scrapped” and “Driverless Car! It’s about to happen on UK roads” – to [...]
US-China trade talks ‘making a final sprint’ towards a potential resolution – Chinese state media February 16, 2019 Trade talks between the US and China are “making a final sprint” towards a potential deal, according to Chinese state media. The People’s Daily – the official newspaper of the ruling Communist party – said talks this past week made important progress, striking a fresh tone of optimism ahead of more discussions in Washington in [...]
Scout24 board approves Blackstone consortium’s €5.7bn takeover February 15, 2019 Blackstone has won the support of Scout24's board with its latest offer of €5.7bn (£5.01bn) for the German online classifieds company. The bid sent Scout24's share price up more than 24 per cent during early morning trading to €46.60, more than the current offer is worth. Read more: Blackstone takes on Bloomberg, paying $20bn for Thomson Reuters [...]
Still feeling entitled? Britain is facing a crisis of intergenerational inequality February 15, 2019 This week, I was audacious enough to suggest that free TV licences for pensioners should not be a public spending priority. The backlash was fierce. “I have paid taxes all my life,” came the outraged cries on social media. This is mostly true, as long as you take “all my life” to mean “until I [...]
Mark Kleinman: Aviva’s missed deadline ensures brickbats February 15, 2019 Viva Aviva? For such a stalwart of blue-chip boardrooms, Sir Adrian Montague suddenly can’t put a foot right. Four years after taking over the chairmanship of Aviva when John McFarlane scuttled off to Barclays, he’s ended up in a rather large pickle of his own making. Sacking Mark Wilson as the insurer’s chief executive last [...]