Articles about Economy


Oi, Europe: join in the sharing economy fun, yells

Blighty is demanding Europe make it easier for sharing economy companies by cracking down on those spoilsport member states who "unlawfully" get in their way, said today in a "non-paper" on the subject. "We need a measured approach: putting a hold on reactive bans which don’t recognise the reality of internet-enabled …
Kat Hall, 20 Jul 2015
Toilet crackpots: Let's build vapourware-based sharing economy CITIES

The creation of entire "sharing economy" cities, mandatory use of Airbnb and Uber for civil servants, and the "opening up" of's vapourware Verify service to business are just some of the latest crackpot "sharing economy" recommendations from the government. The response from the Department for Business, Innovation and …
Kat Hall, 19 Mar 2015
Australian Government 2.0 taskforce logo

Boffins deflate digital economy bubble with hard economic data

Australians are getting their regular consultant-driven exhortation to ride the “digital economy” horse to wealth and prosperity, even though it turns out that for every digitally disruptive dollar that flows from the fingers of keyboard warriors, two dollars escapes the science lab into the economy. We're working with a few …

Legalising London's bed-hopping economy is POINTLESS

Exclusive There is no evidence to support claims that London residents have been fined for using sites such as Airbnb, despite moves by the government to push through headline-grabbing "sharing economy" legislation, El Reg can reveal. Last month, the government announced it would introduce an amendment to allow London residents to use …
Kat Hall, 12 Mar 2015

Big trouble in big China: Crashing economy in Middle Kingdom body slams US tech stocks

The Dow Jones Industrial Average shed more than 1,000 points in the first few minutes of trading on Monday, as the effects of China's economic woes spilled over onto Wall Street. China's Shanghai Composite index plummeted by 8.7 per cent – its biggest one-day drop since the global financial crisis of 2007 – sending waves into …
Neil McAllister, 24 Aug 2015
The flats at Coronation Avenue, as seen on Street View

Gov.UK tells Londoners: You too can cash in on the 'sharing economy'

London residents will soon be able to enter the so-called "sharing economy", under changes to the law allowing them to use websites such as Airbnb without the fear of a £20,000 fine. In the rest of the country, residents are able to let out their homes for short periods. But in London, under Section 25 of the Greater London …
Kat Hall, 11 Feb 2015
Cat on computer

Latest menace to internet economy: Gators EATING all the PUSSIES

Forget Norks, hacktivists and global cyber criminals, a far more clear and present danger is now threatening the future of the internet: a giant cat-eating alligator. As any student of the digital era will know, the sole reason that Tim Berners-Lee invented the web was in the first place was so people could eventually share …
Kat Hall, 20 Jan 2015
Man drinking through a straw CC2.0 attribution Bradley Gordon

Sharing Economy latest: Women's BREAST MILK is the new 'liquid GOLD' of the internet

Perhaps you don't think that there's a massive and highly lucrative trade in human breast milk on the internet, much of the milk apparently being quaffed by adult men? Perhaps you need to pull your head out of the "real" world, get back online and get up to speed, my friend. To be fair, we here on the Reg breasts-and-related- …
Lewis Page, 18 Jun 2015

Sharing Economy sharks need love, cuddles and SUBSIDIES –

Analysis The government’s controversial “Independent Review” of so-called “sharing economy” companies – such as Uber – has concluded that they should be encouraged to self-regulate while receive government nurturing and love – and your money. To lead the review, the government appointed Debbie Wosskow, the CEO and founder of LoveHomeSwap …
Andrew Orlowski, 27 Nov 2014

HGST's Active Archive System and the 'currency of the new economy'

What better thing for a disk drive company to do than announce a drive array to archive data and increase demand for its spinning disks? HGST has gone and done just that with its Active Archive System array, built using acquired Amplidata object storage tech. Object storage technology views files as objects, with the content …
Chris Mellor, 08 Apr 2015
Police direct a cabbie at the Uber protest in London

Only a CNUT would hold back the waves of the sharing economy

Something for the Weekend, Sir? The Turtle-Necked Twats are having their bluff called at last. Taxi-hailing app developer Uber has been invited to rejoin the real world and the TNTs are in uproar. London’s transport authority, TfL, has launched a public consultation into private-hire taxi services in England’s capital. As usual, Uber’s TNTs are convinced …
Alistair Dabbs, 03 Oct 2015
Steve Jobs memorial in Russia

Apple BIGGER than the U.S. ECONOMY? Or Australia? Or ... Luxembourg?

Analysis Apple's results are out - and it's time for the traditional game of trying to work out how much richer than which country the company is. With sales at $58 billion for the quarter, profits of $13.7 billion and depending upon how absurd we want to make our method of measurement this makes it the same as the US economy, the size …
Tim Worstall, 28 Apr 2015

#VultureTRENDING: It's Pimpr, the latest sharing economy super app

The sharing economy is one of the most stunning and liberating things the world has ever known. Airbnb has let people monetise their unused rooms; Uber has let them monetise their unused cars; Ploppr has enabled people to strike a blow for organic farming by monetising their otherwise unused excrement. Now there's Pimpr, which …

MIT bods' digital economy babblings are tosh. C'mon guys, Economics 101

Worstall on Wednesday We've one of those lovely open letters floating around. Where the Great and the Good, the Wise Thinkers, tell us all how we've got to organise the world to accord with their prejudices about how it should be ordered. This particular one, an “Open Letter on the Digital Economy” (versions here and here) is about what we've got to …
Tim Worstall, 10 Jun 2015

Arrr: Freetard-bothering Digital Economy Act tied up, thrown in the hold

The Ministry of Fun says it isn't going to put the Digital Economy Act's anti-piracy measures into use – and will instead leave it to the creative industry's newer, kinder and gentler awareness campaign, Creative Content UK, to school digital pirates. Creative Content UK (CCUK) works by emailing copyright-infringing downloaders …
Andrew Orlowski, 24 Jul 2014
Japanese phone pants

#VultureTRENDING: YESS! It's Pantsr, the Sharing Economy super app that delivers on the BOTTOM line

Get ready for the latest sharing-economy sensation! We here at #VultureTRENDING have exclusive details of the newest business firestorm set to hit the headlines - and the BOTTOM lines! Yes - it's Pantsr! In the same way that Uber has helped people to monetise their otherwise unused vehicles, Ploppr has helped them monetise their …
Wheat harvest

Customisation is BAD for the economy, say Oz productivity wonks

Australia's Productivity Commission is complaining that high-value, highly-customised – artesan, in fact – products are a drag on national productivity. In its latest productivity report, the nation's flint-eyed economists have decided that the best thing for the economy is for every possible product to sink into an identical …

Govt control? Hah! It's IMPOSSIBLE to have a successful command economy

Worstall on Wednesday One of the perennials of the great economic debate is those who insist that if we centrally planned how the economy would run, it would all work much better than this messy competition, profit-and-loss and duplication-of-effort system we're stuck with at the moment. And it didn't all start with the Soviets. Back in late- …
Tim Worstall, 13 Aug 2014
President Putin doing judo

Why has the Russian economy plunged SO SUDDENLY into the toilet?

Worstall @Xmas The best economic fun of the past few weeks has been watching the meltdown of the rouble and the associated problems in the Russian economy. OK, “fun” might not be quite the right word: schadenfreude, perhaps? Real people are undoubtedly, through no fault of their own, being made worse off by what is happening - so fun is almost …
Tim Worstall, 28 Dec 2014
Money image

Luxembourg: Engine-room of the tax-break economy

Four high-profile audit firms have been named-and-shamed as architects of a tax minimisation structure used by hundreds of the world's big-name companies, including a slew in the tech sector. The International Consortium of Investigative Journalists has published details of how the structure worked, along with identifying many …

Airbnb beats actual posh hotel chain with stupidly large valuation

Airbnb is shortly expected to unveil a valuation of $24bn (£15bn), meaning it will soon be worth more than actual hotel chain Marriott, according to reports. This month, Airbnb expects to close a $1bn (£628m) funding round at a $24bn valuation, "people familiar with the matter" have whispered to the Wall Street Journal. In …
Kat Hall, 18 Jun 2015
Taxi Driver

Uber, Lyft and cutting corners: The true face of the Sharing Economy

Analysis More allegations have emerged of dodgy tactics on the part of car ride app Uber and rival Lyft – this time relating to so-called "brand ambassadors". Glossy gadget blog The Verge obtained and published the handbook Uber contractors allegedly follow to woo Lyft drivers, under something called Operation SLOG. Whether this is legal …
Andrew Orlowski, 29 Aug 2014
John Lewis gifts for teenagers

Skills crisis? Not for long: More and more UK kids gain STEM quals

More youngsters are taking A-Level exams in science and technology subjects this years than their peers five years ago, with an increase in tech subjects seen as an encouraging sign that the so-called skills shortage may become less acute in coming years. A-Level results released on Thursday revealed a 29.1 percentage point …
John Leyden, 14 Aug 2015

Alibaba shares down as growth slows to a continental creep

After the largest-ever initial public offering in September, Alibaba has reported its slowest quarterly revenue growth in three years. The Chinese e-commerce titan has been embattled by market competition, on top of the woes of China's domestic economy. Investors in New York were spooked and shares fell by seven per cent, …
Lenticular Cloud

General Electric: Come here, cloud, and get in my IoT belly

US conglomerate General Electric has announced it wants to join the cloud party with the launch of its own fluffy white stuff. GE said it wants to capitalise on the 50 billion machines estimated to be connected to the internet by 2020; the so-called "Internet of Things" economy. The conglomerate describes itself as a "digital …
Kat Hall, 05 Aug 2015

Mining for insight in the economy of things? Check your toolkit

The Internet of Things (IoT) has given us watches that talk to our phones, phones that talk to our cars, and robot spies that talk to Amazon. But can it revolutionise industries with lots of unstructured information that hasn’t yet been collected? The IoT concept is a bit like soap in the bath. You think you’ve got a grip on …
Danny Bradbury, 15 Sep 2015

Wow, Barcelona really has a problem with tech disruptors. Watch out Airbnb

Fresh from sending the Uber question* to the European Court of Justice, it appears the city of Barcelona is now spoiling for a fight with another tech disruptor – this time lodgings lister Airbnb. Earlier this week, Airbnb announced it would be collecting tourist tax on behalf of its users in Paris from 1 October, and it …
Jennifer Baker, 28 Aug 2015


The government claimed today that a £1.2bn investment of taxpayer money in the deployment of fast broadband networks would return £20 for every £1 spent from the public purse. Secretary of State for Culture, Media and Sport Maria Miller has come under fire in recent months. The Broadband Delivery UK contracts looked set to fall …
Kelly Fiveash, 14 Nov 2013

Osborne slashes growth forecast by half in bleak economy statement

Budget Day 2013 Chancellor of the Exchequer George Osborne "levelled" with the British public today by admitting that the economy remains in the toilet as he slashed growth estimates. "We've got to go on making difficult decisions so that Britain can live within its means," he told Parliament. But his grim statement to the House revealed that …
Kelly Fiveash, 20 Mar 2013
Photo of Jonathan Ive

Jony Ive: Apple iWatch will SCREW UP Switzerland's economy

Comment The New York Times has profiled the wearables market and there's an intriguing little hint that, as a designer, Apple's Jony Ive is in fact a great marketing guru. For he seems to be thinking that the iWatch is going to be so cool that it'll entirely screw over the Swiss watch industry. This isn't, needless to say, quite what is …
Tim Worstall, 05 Sep 2014

iPhone to account for half of US economy by 2030 - projection

Strange, terrible, yet curiously inevitable news today - the day before iPhone 5 day. Analysis based on figures from hefty Wall Street brains appears to show that the Jesus Phone is set to account for a large chunk - perhaps the majority - of US economic activity within a matter of decades. The Register's elite economic …
Team Register, 11 Sep 2012
The Register breaking news

'App Economy' has created 466,000 US jobs

Although Apple may be facing mounting criticism for outsourcing its manufacturing beyond US shores, creating 700,000 jobs in China and elsewhere, one tech-industry advocacy group claims that Apple, the Android ecosystem, Facebook, and lesser lights account for roughly 466,000 US jobs in what it calls the "App Economy". "Nothing …
Rik Myslewski, 08 Feb 2012

Uber unleashes $1bn war chest to crack Indian market

Uber is to throw $1bn (£642m) of investment into the Indian market, in an apparent attempt to blast incumbent "sharing economy" taxi biz Ola out of the water. As the company clearly won't be investing in any physical infrastructure, the war chest will presumably be going toward an aggressive advertising and marketing campaign …
Kat Hall, 31 Jul 2015
A Lyft car

Uber rivals Lyft and Didi adopt 'enemy's enemy is my friend' policy

US "sharing economy" taxi firm Lyft has teamed up with Chinese equivalent Didi in a "strategic partnership" designed to see off the global threat posed by Uber. The deal was consummated with a cash injection of $100m (£64m) in Lyft by China's largest ride-sharing company. Lyft said in a statement: "With this partnership, we’ …
Kat Hall, 17 Sep 2015

Microsoft and pals: Save the global economy by NOT ripping us off

Ditching dodgy software can rescue not just the UK from its financial worries, but the entire world, or so says the latest study from the Business Software Alliance. The BSA, comprising vendors including Microsoft, CA, Adobe, Apple and others, commissioned biz school INSEAD (once known as the Institut Européen d'Administration …
Paul Kunert, 23 May 2013
Uber - living the dream

Uber snaps up hip map startup

Uber, the "sharing economy" company which rose to infamy for being accused of profiteering during the Sydney siege, has bought data mapping and search startup deCarta. It is the first acquisition the controversial company has made since launching. Details of the deal were not disclosed. In a story that may or may not be true, …
Kat Hall, 04 Mar 2015
David Thodey, Malcolm Turnbull and Bill Morrow sign NBN agreements

Australia's NBN gets a new minister: Mitch Fifield

The communications portfolio that Malcolm Turnbull vacated to become Australia's prime minister seems to have been downgraded. Communications has had “and the Arts” returned to it, after a brief and disastrous period with attorney-general George Brandis, and the bouquet has been wrapped up and handed to new minister Mitch …
Uber launch party by CC2.0 sharelalike attribution

Join Uber in a tale of rent seeking and employment law

Worstall on Wednesday Dabbsy was chuntering on about Uber and TfL finally deigning to take note of the regulations under which they should offer services, and it reminded me that we've got three lovely pieces of economics wrapped up in this whole sharing economy story. The first is one well known to youse guys in the tech industry: network effects …
Tim Worstall, 07 Oct 2015

Crowdfunded beg-a-thon to bail out Greece raises 0.003% of target

A well-meaning, if definitely doomed, attempt to crowdfund a bailout for soon-to-default Greece has been launched on Indiegogo by a Yorkshireman who works in a London shoe shop. Pitched as a bailout fund for Greece, replete with Gettysburg Addres-style "by the people, for the people" rhetoric, Thom Feeney aims to raise €1,600, …

White House 'deeply disappointed' by Europe outlawing Silicon Valley

The US government is "deeply disappointed" by the European Court of Justice's decision to effectively kill the long-standing "safe harbor" agreement covering the flow of people's personal data across the Atlantic. Under European law, personal information on EU citizens must stay within the Continent for privacy reasons. To …
Kieren McCarthy, 06 Oct 2015

US economy defies Fiscal Cliff, creates plenty of IT services jobs

The US federal government's budget crisis at the end of 2012 did mess with America's economy and the jobs market in particular. But according to the latest employment report from the Department of Labor, companies were a tad more resilient in the face of the Fiscal Cliff than many had expected. As El Reg reported a month ago, …
Panic button

How can we manage this internet thing? The Euro gov needs YOU

The European Commission is asking for help in drawing up laws to govern the internet. On Thursday it launched yet more public consultations designed to inform bureaucrats attempting to help create the digital single market. The two new consultations are so broad as to be almost unmanageable: one on “geo-blocking” and the other …
Jennifer Baker, 25 Sep 2015
The Register breaking news

Facebook 'contributes' €15.3bn to EU economy... bitch

The UK economy might be down in the dumps, but there is a ray of sunshine from an unlikely source: Mark Zuckerberg's Facebook has supposedly helped to contribute £2.2bn to the country's GDP in 2011. Facebook added that – with a lot of help from the rise of mobile applications – it has "supported" 232,000 jobs in recent years …
Kelly Fiveash, 25 Jan 2012

Northamber: UK economy stuck in 'U-bend', Olympics hasn't flushed it

Northamber's colourful boss says the UK economy remains stuck in the U-bend - not helped by the Olympics - and the industry is in a "state of flux" making short term forecasts less certain. So it is just another ordinary interim statement from David Philips, chairman at the Surrey-based wholesaler, who warned that Q1 turnover …
Paul Kunert, 14 Nov 2012

Cisco gobbles OpenDNS, sorts out cloud security portfolio

Cisco will buy privately held net security firm OpenDNS for $635m in cash, to make good its cloud security portfolio and boost the networking giant's "security everywhere" approach. Announcing the deal today, the leviathan is offering the bundle of cash alongside assumed equity awards, plus retention based incentives for OpenDNS …
Selection of Australian banknotes

Labor floats 'startup loans' for youngsters

Perhaps to counter the rapturous reception the tech sector has given new prime minister Malcolm Turnbull, Australia's opposition has floated the idea of government loans for youngsters with a startup idea. Pitched by way of a drop to the Sydney Morning Herald, Labor leader Bill Shorten reckons his thought bubble will encourage …
Bill Bennett, 24 Sep 2015
The Register breaking news

BT, TalkTalk refused appeal against Digital Economy Act

BT And TalkTalk won't get another day in court against the Digital Economy Act, after the telcos were denied permission to appeal against the failure of their legal challenge to the Act earlier this year. "I can confirm that we've been refused permission to appeal the JR [judicial review] judgment by the Court of Appeal. We are …
Kelly Fiveash, 21 Jun 2011

WTO cuts tariffs on $1tn worth of 'IT' gizmos

Wealth is now available to all in IT, following the World Trade Organisation's members agreeing to update the Information Technology Agreement, cutting tariffs on $1tn worth of IT products. Finalised on Friday, the members of the World Trade Organisation (WTO) have agreed that tariffs ought to be cut on IT products, from new …

Lottery chief resigns as winning combo numbers appear on screen BEFORE being drawn

Aleksandar Vulovic, czar of the Serbian state lottery, has resigned from his position after winning numbers were mysteriously broadcast on television before they had been drawn. Allegations of fraud abound on every hand following the incident, reports the Associated Press. In what was presented to the public as a live …
Team Register, 03 Aug 2015
The Register breaking news

BT, TalkTalk lose final appeal against Digital Economy Act

Updated BT and TalkTalk today lost their final appeal against the UK government's measures to stamp out illegal file-sharing online. The telcos want certain sections of the Digital Economy Act repealed, and took their fight to Blighty's Court of Appeal after most of their arguments were tossed out by a High Court judge in April last …
Kelly Fiveash, 06 Mar 2012