Articles about Economy

Sharing Economy sharks need love, cuddles and SUBSIDIES – UK.gov

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

#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 …

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

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
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 …
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 …
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
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

BROADBAND will SAVE THE ECONOMY, shriek UK.gov bods

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

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

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
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

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, …
Northamber

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
cookies_eyes_privacy evercookies flash cookies

Ad man: Mozilla 'radicals' and 'extremists' want to wreck internet economy

Updated Randall Rothenberg, president and CEO of industry group the Interactive Advertising Bureau (IAB), thinks the Mozilla Foundation's policy on third-party cookies is way out of line, and he's taken to the web with a 4,000-word screed essay to make his case. It was in February that Mozilla first said that a future version of its …
Neil McAllister, 17 Jul 2013

China to become world's No 1 economy. And we still can't see why

Special Report China will become the world's biggest economy this year, overtaking the United States in GDP. As the FT drily notes, "Most economists previously thought China would pull ahead in 2019." So China powers on, at a greater pace than had been predicted by Western economic experts, who are supposed to know about these things. But our …
Andrew Orlowski, 22 May 2014
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
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

Has Google gone too far? Indie labels say it's crunch time for The New Economy

Indie music labels say today's tech giants are behaving more badly than the old record industry at its worst. At a press conference in London yesterday, the labels' reps explained why they're seeking emergency action against Google from Europe's anti-competition authorities: Google is negotiating music-streaming royalties with …
Andrew Orlowski, 05 Jun 2014
5_pounds_sterling_money_cash_moolah

Cost-cutting Serco says UK economy improving

IT outsourcing behemoth Serco Group says the outlook for the UK economy is decidedly brighter as the nation feels its way through the economic gloom. The services player reckons it is on track to meet 2012 targets with sales in the first half expected to grow 6 per cent, due to acquisitions made last year. In a steady-as-she- …
Paul Kunert, 14 May 2012
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
Huawei

Huawei profits tumble as global economy falters

China’s largest telecoms kit maker Huawei has seen its profits for the first half of 2012 slump by nearly a quarter, thanks to the sluggish global economy. Huawei said that although sales revenue for the period increased 5.1 per cent from the same time last year to 102.7 billion yuan (£10.4bn), operating profits tumbled 22 per …
Phil Muncaster, 25 Jul 2012

Phoenix IT Group blames former CEO and economy for woes

Phoenix IT Group chairman Peter Bertram fingered his former CEO and the fragile economic recovery as reasons why trade remains damp and profits have yet to rebound in a more meaningful way. At the half way stage of fiscal '14 for the six months to 30 September, the beleaguered LSE-listed firm reported a near six per cent decline …
Paul Kunert, 28 Nov 2013
QL launch: Micro Men style

UK urged to stop bigging up startups, feed 'growing' firms

The UK must stop obsessing over startups and instead channel its resources into growing companies, a wide-ranging report has said. Britain now starts more companies per head than the US, but has a lower proportion of businesses gradually scaling up to become large companies, compared with the US and other nations, said the …
Kat Hall, 18 Nov 2014
TX4 Black Cab

Uber alles... nein! Deutschland imposes NATIONWIDE BAN on taxi app

Uber has been banned in Germany after a court in Frankfurt imposed a temporary injunction on the driving firm. Taxi Deutschland, a co-operative taxi industry group in the country, took Uber to court in Frankfurt claiming that the company is in violation of Germany’s passenger transport laws. According to a statement from the …
George Osborne looking like he means it

UK slaps 25 per cent 'Google Tax' on tech multinationals

Chancellor George Osborne has announced a 25 per cent tax on company profits made in UK but diverted abroad - singling out tech companies for a so-called "Google tax." In his Autumn Statement Osborne pointed the finger at large multinational companies, particularly those in the tech sector, that use "elaborate tax structures" to …
Kat Hall, 03 Dec 2014

Corporate crashes in UK IT channel drop back to pre-recession levels

Channel fatalities are down for the fifth consecutive quarter as the local ICT sector growth and the wider UK economy becomes the envy of European neighbours. The numbers of tech suppliers that went pop during Q3 was down by almost a quarter to 56 compared to the war stats from credit reference agency Graydon UK for the same …
Paul Kunert, 09 Oct 2014
Samsung Galaxy Note II

One sixth of the ENTIRE PLANET will buy a new smartphone this year

One in six human beings are set to buy a new smartphone this year, Juniper has predicted, with the sales surge driven by the availablilty of mobes which cost under a hundred quid. It said international smartphone shipments will approach 1.2 billion this year, an increase of 19 per cent from the 985 million handsets shipped in …
Jasper Hamill, 16 Sep 2014

Blighty will be BIGGER and BETTER than Germany, confirm beancounters

Britain's teamsters may not be setting the sporting stage alight this summer but the local tech economy is heating up as it sprints to Euro glory. Figures from Chancellor George Osborne late last week showed that overall UK economic output is some two per cent larger than pre-financial crisis levels in 2008, after rising 0.8 per …
Paul Kunert, 28 Jul 2014

EMC flat-lining as economy continues to circle drain

EMC has scraped year-on-year revenue and profit hikes for its third 2012 quarter but reported ever-so-slightly lower numbers than the second quarter, a pattern not seen in the past two years. Quarterly revenues were $5.28bn with net profits of $626m. This revenue was up 6 per cent year-on-year and down 0.56 per cent sequentially …
Chris Mellor, 24 Oct 2012
Tesla's Elon Musk

Tesla confirms Australian launch date

Tesla, which earlier this year started scouting around for charging stations in Australia and has also popped up with displays in at least one Sydney mall, has confirmed December for its official launch. Renew Economy reckons the Sydney December 9 launch will include early Model S deliveries and announcements about where it will …
Sharon White, new head of Ofcom, former Second Perm Sec at the Treasury

Ofcom's new broom Sharon White sweeps into office

Communications watchdog Ofcom confirmed this morning that it has found a replacement for outgoing chief Ed Richards. Sharon White will head up the regulator from late March, on an annual salary of £275,000, after she ends her senior role at the Treasury. White currently serves as Second Permanent Secretary of the Finance …
Kelly Fiveash, 16 Dec 2014

UK economy to lose £198m if BBC and pals lose EPG slots - Ministry of Fun

The evolution of channel surfing risks sidelining public service broadcasters such as the BBC and ITV, and has prompted the Department of Culture, Media and Sport (aka the Ministry of Fun) to work out how much a prominent position on our Electronic Programme Guides (EPGs) is worth. Legislation covering channel placement on EPGs …
Bill Ray, 30 Jul 2013
Picard Facepalm

Deloitte's dumb rules stop us from telling you about everyone else's dumb rules

Deloitte Access Economics in Australia is pitching the idea – quite possibly correct – that corporate bureaucracy is more costly than government regulation. It's an attractive enough idea, especially in a country where the government has trumpeted as “red tape reduction” the repeal of legislation covering the phase-out of the …
Costumed pirate

Economics prof denies digital pirates plundered €20bn from EU coffers

A European academic has rubbished claims by the Business Action to Stop Counterfeiting and Piracy (BASCAP) group that digital piracy cost the EU more than €20bn between 2008 and 2011. Making the assumption that the creative and service sectors performed at the same level, a grand total of around one million jobs and €47bn of …
Jennifer Baker, 08 Oct 2014

Google: Why should we pay tax when we make 'intangibles'?

Irritated at global moves to lop the odd choc truffle off its outputs, Google has launched a spirited defense of its right to underpay taxes in Australia, on the basis that the benefits it brings to the local economy are intangible. In an upcoming profile piece in the Australian Financial Review's style-and-fashion supplement …
bls_jobs_image bureau of labor statistics

IT job creation bucks up US economy

The US economy added more jobs than economists had been expecting in July, according to a report released Friday from the Department of Labor, and the IT sector did its part to push up the numbers once again as it has since the beginning of the Great Recession five years ago. According to the July jobs report (PDF), the private …

Japan makes Prius palatable with road map to hydrogen cars

Japan has outlined a 25-year roadmap to get hydrogen-powered cars onto its roads, hydrogen-powered machinery into its factories and fuel cells into millions of homes. The nation's Ministry, for Economy Trade and Industry, recently outlined the plan, which has three phases. In the first, the nation aims to commercialise a …
Simon Sharwood, 04 Jul 2014
Asteroid mining

Asteroid mining and a post-scarcity economy

In the last year, we've seen two commercial ventures announce different plans to harvest the material bounty of the solar system by mining asteroids. So are we at the foothills of a post-scarcity economy or are people blowing a lot of hot air on the latest fad du jour? In April, Planetary Resources announced a scheme to fire off …
Iain Thomson, 24 Jan 2013
channel

US economy hands IT a mixed bag in December

It looks like the IT industry is faring no better or worse than the US economy as a whole when it comes to creating jobs. Private sector companies in the United States added 212,000 jobs in December, to some a sign that the economy is improving and to others that it is just bumbling along. Governments at the local, state, and …

Net neutrality: Cisco, Intel, IBM warn FCC NOT to crack down on ISPs

More than 60 technology companies, from Cisco to Intel and IBM, have asked the FCC not to tighten the rules on what ISPs can do with web traffic and subscribers' bills. Specifically, the IT giants do not want the US watchdog to reclassify ISPs as "Title II" providers, a classification championed by some net neutrality advocates …
Kieren McCarthy, 10 Dec 2014
distribution_channel

Why mergers LOSE money, but are GOOD for the economy

So the distribution sector has had yet another round of consolidation. Mergers, takeovers - these are the things that make an M&A banker's heart* thumpety-thump with joy. The big question, though, is whether this actually does any good for the shareholders of the various companies - you know, the people who actually own them? …
Tim Worstall, 11 Jan 2013
Uber logo

Deutschland, Uber allowed (for now): Ban on taxi app lifted

A judge in Germany has scrapped a temporary injunction banning Uber's taxi service in the country. Today's decision by the Frankfurt Regional Court overturns an earlier ruling that put Uber's German operations on ice as it battles a legal challenge from the nation's taxi drivers. The injunction was made as Uber and Taxi …
Shaun Nichols, 16 Sep 2014

Exposing China's vast underground economy

Analysis A new academic study has set out to illuminate for the first time the size and structure of the Chinese online underground, and found it affected nearly a quarter of the country’s internet users last year and cost the economy over 5 billion yuan (£500m). Investigating China’s Online Underground Economy was put together by …
Phil Muncaster, 18 Aug 2012
The Register breaking news

BT, TalkTalk in court seeking axe for Digital Economy Act

Two of the UK's largest internet service providers are appearing in the High Court later today to try to overturn the government's Digital Economy Act. BT and TalkTalk say the Act is in breach of European privacy and human rights legislation. The law was passed during the fag-end days of the last government and saw little debate …
John Oates, 23 Mar 2011
Sky2

'I don't NEED to pay' to watch football, thunders EU digi-czar

Europe’s new digital chief’s passion for ending geo-blocking has been explained: he’s missing out on his beloved Estonian football. The European Commission’s VP for the digital economy and former Estonian prime minister, Andrus Ansip, has reiterated his determination to end so-called geo-blocking in every speech he has made …
Jennifer Baker, 09 Dec 2014
The Register breaking news

Net economy bigger than Ben Hur

The Internet isn’t just a curiousity or a medium for transmitting videos of cats and naughty bits: according to a Deloitte Access Economics report, its aggregate impact on the economy rivals that of Australia’s retail sector. According to The Connected Continent, billed as the first attempt to quantify the scale of the Internet …
Bitcoins

UK.gov mulls what to do about digital currencies

The government has opened a consultation examining the benefits and risks of digital currencies, which will include evidence on whether the virtual currencies ought to be regulated. An estimated 20,000 people in the UK currently hold cryptocurrency Bitcoin – and around £60m worth are circulating in the UK economy, said The …
Kat Hall, 04 Nov 2014
bls_jobs_image bureau of labor statistics

US economy not eager to create jobs in April

The Bureau of Labor Statistics, the job-counting arm of the US Department of Labor, says that job creation in April was lower than economists had been expecting, but went back and revised its figures for February and March, saying that more workers found jobs than it originally thought. The latest jobs report (PDF) shows the …