UK considers social media ban for U16s

📍Top line: Ministers in the UK are considering backing a private member’s bill to restrict social media access for children under 16 by raising the minimum age for data collection. The move aligns with mounting public support and follows a similar policy introduced in Australia.

Key Points:

• Legislative Proposal: The proposed bill, led by Labour MP Josh MacAlister, seeks to increase the minimum age from 13 to 16 for social media companies to collect data on children. This would effectively limit children under 16 from using platforms like Facebook, Instagram, and TikTok.

• Public and Parental Support: A grassroots movement, Smartphone Free Childhood, has gained traction with 150,000 supporters.

• Government Backing and Concerns: While ministers had initially opposed a prior draft of the bill due to a controversial ban on smartphones in schools, current discussions are focused on age restrictions for social media usage, a policy believed to have broad support across the political spectrum.

• Technological Feasibility: Advances in online age verification technology and growing cooperation from social media companies make age restrictions more achievable than in the past.

• International Influence: The UK’s move follows a similar ban enacted in Australia for children under 16, which is closely monitored by UK officials for potential guidance.

Premier League clubs plan stadium expansions

📍Top line: Premier League football clubs are planning major stadium upgrades to meet growing ticket demand and reduce reliance on broadcasting and sponsorship income. A Financial Times analysis reveals that the league's top 20 clubs aim to add at least 115,000 seats over the next decade, marking a 14% increase in capacity.

Key Points:

• Expanding Capacity: Clubs aim to add at least 115,000 seats across Premier League stadiums to capture rising ticket demand and increase match day revenue.

• Investment in Infrastructure: Clubs are using fresh capital from investors to fund stadium expansions and upgrades.

• New Projects in Development:

  • Tottenham set a high standard with its £1 billion stadium completed in 2019.

  • Everton plans to move to a new stadium at Bramley-Moore Dock.

  • Manchester United is considering a new stadium project, with many fans favouring a new build for Old Trafford.

  • Manchester City and Liverpool recently expanded their stadiums to over 61,000 seats each.

  • Chelsea and Arsenal are assessing possible expansions to their grounds as well.

• Revenue from Match Days: Match day income accounted for £867 million, or 14% of the league’s total £6 billion revenue in 2022-23, boosted by a record average attendance of 40,291. More seats could increase revenue needed to invest in top talent.

• Additional Revenue Opportunities: Expanded stadiums open up new revenue streams from hosting concerts, events, and VIP hospitality, as seen with Tottenham’s events like NFL games and Beyoncé concerts.

Elsewhere in business:

💷 Tesco is set to face a £1 billion increase in its national insurance contributions (NICs) over the current parliament. The planned increase in NICs is expected to impact large employers like supermarkets and restaurant chains heavily, potentially resulting in job cuts and price hikes to offset rising costs.

🇨🇳 Lululemon is defying economic trends in China with a remarkable surge in sales, solidifying the country as its fastest-growing market. Since 2018 Lululemon has scaled its presence from a modest 10 stores to over 130 locations across the country. This year, it hit a milestone of $1 billion in Chinese sales.

Revealed: Hidden costs of booking via travel agents

📍 Top line: Booking flights directly with airlines like Wizz Air could save you hundreds of pounds compared to using online travel agents (OTAs) such as eDreams and Lastminute.com, according to an investigation by The Sun. 

Key Findings from the Investigation:

• Higher Costs on OTAs: The investigation compared flight prices on the Wizz Air website to those on OTAs, finding that flights, seat selections, and baggage fees were consistently higher through third-party sites.

  • For a last-minute flight from Rome to London, booking through eDreams cost £42 more than booking directly, while Lastminute.com was £19 more expensive.

  • A December flight from London to Rome was priced at £49.99 through Wizz Air, but the same flight cost £57 on eDreams, with baggage fees also significantly higher on OTAs.

• Family Travel Markup: Booking for a family of four added up to significant differences, costing an extra £92.76 through eDreams for a London-Rome trip and £85.20 more for a Gatwick-Marrakech route.

• Reasons for Higher OTA Fees: OTAs often charge more to cover the added services they provide, such as flight comparisons across multiple airlines and support if there are travel disruptions.

Elsewhere in the economy:

🗣️ Chancellor Rachel Reeves is set to champion the benefits of free and open trade in her first Mansion House address on Thursday, issuing a direct appeal to US President-elect Donald Trump, whose protectionist stance could threaten UK-US trade relations. Economic analysts warn that US tariffs could reduce UK growth prospects.

🔧 The UK government is set to enforce a ban on gas boilers in new homes in England from 2027. These forthcoming rules, announced in 2019, will require builders to incorporate electric heat pumps or alternative low-carbon heating solutions in most new constructions. This shift aims to boost energy efficiency and curb carbon emissions, aligning with the UK’s broader climate targets.

AstraZeneca has opened applications for its 2025 Graduate Analytical Chemist position in Macclesfield. Successful applicants will have the opportunity to develop analytical methodologies to help design synthetic routes and processes, plan and implement lab-based experimental work and assist with improvement strategy. The two-year scheme is open to Chemistry and Analytical Chemistry graduates who have already graduated or are expected to graduate by Summer 2025. Apply now here.

Bitcoin reaches record high

📍Top line: Bitcoin has reached a record high of $81,000 following Donald Trump’s victories in Nevada and Arizona, which secured his place as the president-elect. The cryptocurrency’s climb of 4.5% on Sunday signalled investor optimism about a Trump administration expected to favour digital asset regulation.

Key Points:

• Market-wide Gains: The rally extended to other digital assets, with Ethereum reaching $3,200, its highest since August, and Solana rising as well.

• Potential for Pro-Crypto Policies: With Republicans close to taking control of the House, analysts predict supportive regulatory changes for digital assets.

• Shift in Industry Sentiment: Trump’s election is viewed as a boon by the crypto sector, contrasting with the previous administration’s tougher stance.

• Trump’s Reversal on Bitcoin: Trump, who previously called Bitcoin a “scam,” promoted its potential during his campaign, boosting investor enthusiasm.

Elsewhere in tech:

✈️ Prime Minister Sir Keir Starmer has given the green light for the UK’s involvement in a multibillion-pound fighter jet project alongside Japan and Italy, confirming Britain’s commitment to the Global Combat Air Programme (GCAP). The project is designed to enhance defense capabilities amid rising global security threats from nations like Russia and China.

📱 Striking workers at The New York Times are urging readers to avoid playing games like Wordle and Connections, as part of their ongoing industrial action over what they describe as unfair labour practices. The New York Times Tech Guild, which handles a variety of content including puzzles, election data, and recipes, began its strike last week, citing the company’s refusal to agree to a fair contract despite months of negotiations.

🚨 Russia and Ukraine have conducted their largest drone attacks against each other since the beginning of the war. According to Russia’s defense ministry, it intercepted 84 Ukrainian drones across six regions. While the Ukrainian air force reported that Russia launched 145 drones targeting every region of Ukraine. The escalation comes amid speculation that U.S. president-elect Donald Trump might push for negotiations aimed at ending the conflict.

🪆 Mattel has issued an apology after mistakenly printing a link to a pornographic website on the packaging of its new Ariana Grande dolls. The "Singing Glinda" dolls, featuring Grande's likeness in celebration of her role in Wicked, were intended for young children but included an incorrect web address on the box.

🇺🇸 Google searches from Americans for moving abroad spiked dramatically following the 2024 US election results, with some countries seeing increases of over 1,000%. Searches for "move to Canada" surged by 1,270%, while queries about emigrating to Australia also saw a significant rise, increasing by 820%.