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Digital IDs are coming
Good morning, this is It’s The Business, the finance, business and tech newsletter that keeps you informed so you can get ahead.
In today’s edition:
Jaguar’s EV rollout plan revealed
Brits rush to book winter getwaways
TikTok facing US ban
Digital IDs coming for pubs and clubs
📍Top line: Pubgoers in the UK will soon be able to use their smartphones to verify their age, as the government moves closer to introducing digital IDs, according to The Times. Ministers are preparing to amend laws to allow digital identity checks for alcohol sales, alongside broader plans to digitalise public services and streamline access to government functions.
Key Points:
Digital Age Verification for Alcohol: A new law will let retailers and landlords scan digital IDs, enabling age verification without disclosing personal details like names or addresses.
Expansion of Government Services: Digital IDs will eventually allow citizens to prove their identity for tasks like paying taxes, opening bank accounts, or accessing benefits via a government-backed app with a “single sign-on” feature.
Public and Industry Support: A consultation revealed strong support for updating the Licensing Act 2003 to include digital IDs for alcohol sales, with respondents favouring stringent government-approved standards.
Safeguards and Voluntary Use: Officials insist digital IDs will not be mandatory, with traditional identification methods like passports and utility bills remaining valid.
How Jaguar will roll-out new electric cars
📍Top line: Jaguar is investing £1.5 billion over the next five years to develop its new all-electric Type 00 vehicles, a radical departure from the brand's traditional design ethos. The luxury models, expected to debut in 2026, aim to reposition Jaguar as a premium player in the electric vehicle market, but the rebrand has sparked criticism from loyal customers.
Key Points:
Investment and Pricing: Jaguar will spread the £1.5 billion investment across five years to develop three new electric models. The vehicles are expected to cost around £150,000.
Design Controversy: The Type 00 design concept, unveiled in Miami, features a bold "slab-fronted" design in colors like “Miami Pink” and “London Blue.” Critics compared the pink model to Barbie’s car and the FAB 1 from Thunderbirds.
Strategic Shift: The rebrand focuses on younger demographics and emerging markets, moving away from Jaguar's traditional older male customer base.
Sales Targets and Market Goals: The firm aims to sell 30,000 units of the Type 00 annually to break even, compared to 67,000 Jaguars sold globally in 2023-2024. Jaguar has garnered 16,000 expressions of interest since the unveiling.
Production Plans: The rollout begins with a four-door grand tourer, followed by an SUV and a saloon model.
Elsewhere in business:
🥫 Christmas party snacks and "picky teas" face disruption as workers at Bakkavor’s Spalding plant in Lincolnshire extend their strike for another three months. The industrial action, which began over demands for higher wages, has already caused shortages of taramasalata and now threatens supplies of cheese and chive dips, soups, and pasta sauces in major supermarkets like Waitrose, Tesco, and Marks & Spencer.
☕ The John Lewis Partnership is aiming to attract more shoppers by integrating Caffè Nero coffee shops into its stores. Last week, Caffè Nero cafés opened in five Waitrose locations—Billericay, Godalming, Keynsham, Locks Heath, and Stroud—offering coffee from Nero Roasting Company alongside Waitrose food. A new Caffè Nero outlet also launched at the John Lewis store in White City, west London.
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Brit holidaymakers rush to book winter getaways
📍 Top line: British holidaymakers are rushing to book winter getaways to sunny and budget-friendly destinations, driving a surge in bookings for travel agents and airlines during a traditionally quiet season.
Key Points:
Rising Demand for North Africa and the UAE: Destinations like Egypt, Tunisia, and Morocco are seeing significant growth in bookings, with increases of up to 128% for some travel agents. The UAE remains a top choice, with Christmas bookings up 170% year-on-year.
Shift in Payment Trends: Paying for holidays in monthly instalments has become increasingly popular, with some agents reporting uptake rates as high as 80%. More Britons are either booking months in advance or waiting for last-minute deals to secure the best prices.
Record Bookings and Industry Growth: EasyJet Holidays expects a 25% increase in bookings for 2024-25, driven by winter sun destinations. On the Beach reported a 25% year-on-year rise in winter bookings, with Morocco, Tunisia, and Egypt leading the growth.
Elsewhere in the economy:
🇸🇦 UK Prime Minister Keir Starmer is set to meet Saudi Arabia’s Crown Prince Mohammed bin Salman during a visit to the Gulf this week, aimed at securing investment for British infrastructure projects and strengthening trade ties, Starmer will first visit the United Arab Emirates, before heading to Saudi Arabia. His agenda includes advocating for a free trade agreement with six Gulf nations and encouraging Saudi and UAE investment in the UK’s green energy initiatives.
💼 The UK job market saw its weakest demand in four years this November, as rising costs from Budget tax increases dampened hiring activity. Seasonal hiring has been particularly affected, with postings for temporary roles down 39% compared to last year, and 46% below 2019 levels. Businesses are prioritising cost-cutting amid higher employer national insurance contributions and economic uncertainty.
Transport For London has opened applications for its 2025 Engineering and Technology year in industry scheme. Successful candidates will complete three four-month placements developing live projects alongside specialist engineers working across the whole lifecycle of a wide variety of systems. Applicants must have or be on track to obtaining a minimum of 2:2 BEng/BSc or MEng/MSc in electrical, electronic, systems or a closely related subject. Apply now here.
TikTok set to be banned in the US
📍Top line: TikTok’s efforts to overturn a US law that could see the app banned or sold by early 2025 have been rejected by a federal appeals court. Here are the key developments:
Court Ruling: The appeals court upheld the law, emphasising its bipartisan support and focus on addressing national security risks posed by foreign adversaries like the People’s Republic of China (PRC). TikTok's parent company, ByteDance, denies allegations of links to the Chinese state.
TikTok's Response: The company plans to appeal to the US Supreme Court, asserting that the law is based on "inaccurate, flawed, and hypothetical information" and violates constitutional free speech protections.
Trump’s Position: President-elect Donald Trump’s upcoming inauguration on January 20, 2025—the day after the law’s implementation deadline—adds uncertainty. While Trump opposed TikTok during his first term, he recently indicated he might block the ban.
Implications for Social Media: TikTok’s potential ban could reshape the social media landscape. Rivals like Meta, YouTube, and Snap stand to gain, while creators and businesses relying on TikTok may suffer disruptions.
Expert Opinions: Analysts have warned of challenges in replicating TikTok’s unique AI-powered recommendation engine. Critics also highlight broader risks, such as algorithmic manipulation and data security.
Creator Reactions: Many TikTok users, including small business advocates, have expressed reluctance to migrate to rival platforms, citing concerns over censorship and reduced audience control.
Elsewhere in tech:
📡 Elon Musk’s Starlink satellites could start addressing mobile signal gaps in the UK as early as next year, under plans being explored by telecoms regulator Ofcom. The agency plans to consult on opening airwaves to satellite-based “direct to device” mobile connections, with services potentially reaching consumers by late 2025.
🇬🇧 The tech hiring spree that marked the pandemic's early days has given way to widespread layoffs, leaving UK employees of Meta, Salesforce, and Dell grappling with the fallout. Between 2019 and 2022, Meta’s UK staff grew from 2,700 to over 7,000. In 2023, Meta’s London-based subsidiary reduced its headcount by 715 employees, leaving 6,300 staffers and incurring a severance cost of £79 million.
🇰🇷 South Korean President Yoon Suk Yeol will step back from managing state affairs, including diplomacy, as his cabinet negotiates an “orderly exit” amid mounting political turmoil. This follows Yoon’s survival of an impeachment attempt on Saturday night. The result, which dismayed the crowds gathered outside parliament, has intensified calls for Yoon’s resignation over his failed attempt to impose military rule and his controversial martial law decree.
📱 Irish actor Barry Keoghan has deactivated his Instagram account after receiving a barrage of hateful messages following his split from U.S. pop star Sabrina Carpenter. Keoghan, 32, urged the public to "please be respectful," expressing that he could no longer allow such negativity to distract him from his family and work. He condemned the "absolute lies, hatred, [and] disgusting commentary" targeting his appearance, character, and parenting.
🥿 A pair of ruby slippers worn by Judy Garland in the 1939 film The Wizard of Oz sold for $28 million at a U.S. auction on Saturday, setting a new record for movie memorabilia. The sequined shoes, one of four known surviving pairs used during filming, were stolen from the Judy Garland Museum in Minnesota in 2005 and recovered by the FBI in 2018.