Innovation

November 2, 2016

Dear Mr Juncker, I have a cunning plan.

Dear Monsieur Juncker, I have been thinking of you recently. With Brexit and CETA, it must seem like life is not getting any easier. Yet, as the new Nobel Laureate Bob Dylan…

November 2, 2016

Bridging the valley of death: grants versus loans

A lack of appropriate and timely funding for innovative businesses is a barrier to productivity and growth. But what is appropriate and what is timely? These are key questions as the United…

September 28, 2016

Berlin vies with London to be tech capital of Europe

London is considered the tech capital of Europe but this title is being challenged by Berlin, its closest rival, in the wake of Brexit. Berlin has seen Britain’s decision to leave the…

September 13, 2016

Minister Backs Creative Industries

The United Kingdom’s creative industries will be “absolutely central” to the UK’s Brexit future, the new minister for Digital and Culture, Matt Hancock, said on Friday. In his first major speech to…

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Israeli intelligence leader resigns
Major General Aharon Haliva, Israel’s director of military intelligence, resigned over the intelligence failures that preceded the Hamas-led attacks on Israel on October 7. He is the most senior official to offer to step down after the assault. General Haliva had become a symbol of the Israeli establishment’s failure to prevent the deadliest attack in the country’s history. His resignation was expected to heighten pressure on other senior figures, including Prime Minister Benjamin Netanyahu, to take greater responsibility for their roles in the catastrophe. New York Times, April 23

UK Rwanda bill passes: detention of migrants can start in days
Rishi Sunak has hailed the Rwanda legislation as a gamechanger for tackling illegal migration and vowed “nothing will stand in our way” of getting deportation flights off the ground by July. The Safety of Rwanda Bill is due to become law after a stand-off between MPs and peers ended shortly after midnight. It paves the way for the detention of migrants within days. The prime minister said that the government has reserved 2,200 detention spaces and already chartered planes to ensure flights can begin in 10 to 12 weeks. Sunak said: “The passing of this landmark legislation is not just a step forward but a fundamental change in the global equation on migration.” The Times, April 23

Criminals and oligarchs in EU’s sights with new bill targeting football fraud
On Wednesday, member states from the European parliament will vote to include the football industry in its sixth anti-money laundering directive. No late hiccups are expected and it will mean that, from 2029, most professional clubs and every agent within the European Union will be required to verify their customers’ identities, monitor transactions - including player transfers - and report suspicious transactions to their relevant Financial Intelligence Unit. Known as “obliged entities”, they will also be required to identify and publish beneficial owners who own at least 15 per cent of the club in transparency registers and design and implement appropriate transaction monitoring procedures to identify suspicious transactions. So seismic are the changes expected to be that policymakers have extended the adaptation period from the usual three years to five … But while British clubs will remain outside their jurisdiction for now, insiders expect that they could follow suit if it proves successful. The Guardian, April 23

Mediterranean ports warn of overflowing storage yards in latest threat to supply chain
Container ports around the western Mediterranean are nearing full capacity, raising the risk of higher inventory costs and component shortages for Europe’s retailers and manufacturers in the latest challenge to the region’s supply chains. Port executives said they were dealing with overflowing storage yards and waits for vessels to berth following Houthi attacks on ships in the Red Sea, which has led to a surge in traffic at Algeciras and Barcelona in Spain and Tangier-Med in Morocco. Denmark’s Maersk recently warned customers that “yard density” at the Port of Barcelona had increased due to high capacity as the port handled far higher than normal trans-shipment movements. Maersk added that terminals in Algeciras and Tangier were also suffering. Alonso Luque, chief executive of TTI Algeciras, one of two container terminals in Algeciras, said his facility was “quite full” and had avoided severe congestion only by restricting the amount of business it took on. “Capacity is very limited,” he said. Financial Times, April 23

Electric and hybrid car sales to rise to new global record in 2024
Electric and plug-in hybrid car sales will jump to a new global record in 2024 despite slowing growth in some markets, according to forecasts from the influential International Energy Agency. The Paris-based forecaster said that 17m battery electric vehicles and plug-in hybrid electric vehicles will be sold in 2024, up more than 20 per cent compared with 2023. The IEA also said most electric cars will cost the same as petrol equivalents by 2030 as prices drop. Tesla lowered prices over the weekend as it fights to retain its market share amid fierce competition from Chinese rivals such as BYD, its closest contender as the world’s largest producer of battery electric cars. Carmakers have complained that growth in demand for electric cars is slowing, forcing them to offer discounts to compete. While this could damage some carmakers, lower prices are also likely to accelerate the transition, the IEA said. Fatih Birol, the energy economist who heads the IEA, acknowledged that sales are stronger in some countries than others, but added that there was clear momentum for the transition. The Guardian, April 23

Video: French startup uses plastic-chewing enzymes in ‘closed-loop’ recycling
April 22 marks Earth Day, and this year’s theme is “Planet vs. Plastics”. Over the past 60 years, around 7 billion tons of plastic have been produced, according to the UN. But only around 10 per cent of it has been recycled. Initiatives are flourishing around the world to tackle the waste crisis, including new technology to improve recycling rates. French startup Carbios has developed an alternative method to mechanical recycling, using plastic-chewing enzymes to break down polyethylene, one of the most common single-use plastics in the world. France 24, April 22

US watchdog sues to block $8.5bn handbag takeover
The US competition watchdog has sued to block fashion accessory giant Tapestry's $8.5bn (£6.9bn) takeover of rival Capri. Tapestry owns handbag makers, including Coach and Kate Spade, while Capri's brands include Michael Kors. The US Federal Trade Commission said if allowed, “the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands”. In response Tapestry said “the FTC fundamentally misunderstands both the marketplace and the way in which consumers shop”. Together, the firms employ about 33,000 staff globally but the FTC argued the deal could reduce wages and their benefits. Coach and Kate Spade are known for what their parent firm calls “accessible luxury” handbags - quality leather and craftsmanship products at affordable prices. Tapestry offered to buy Capri in August, hoping to create a US fashion giant that could compete against bigger European rivals such as Chanel, Hermes and Louis Vuitton parent LVMH. BBC news, April 23