Is this the end of dating apps?

📍Top line: Dating apps are losing favour among UK users, with platforms like Tinder, Hinge, Bumble, and Grindr seeing significant drops in engagement, according to Ofcom’s Online Nation report. Millennials and Gen Z users are expressing dissatisfaction with app experiences, citing issues like ghosting, catfishing, and a lack of meaningful connections. Many are turning back to in-person interactions or exploring alternative platforms.

• Decline in Users: Tinder lost 600,000 users (5%), Hinge dropped 131,000 (3%), Bumble shed 368,000 (2.3%), and Grindr was down 11,000 (1.9%).

• Shift in Preferences: Gen Z is seeking “lower-pressure, more authentic” ways to connect, with some favouring social-focused services like Thursday or Sniffies over traditional apps.

• Financial Struggles: Match Group, owner of Tinder and Hinge, is cutting 6% of its workforce due to reduced user numbers and faces lawsuits over app designs prioritising profit over relationships.

• User Discontent: Many feel apps are "necessary evils" but ineffective, with imbalanced gender ratios and algorithms criticised for prioritising revenue over matchmaking.

• Alternative Solutions: Wealthier users turn to matchmaking agencies or exclusive platforms like Raya, while face-to-face events gain popularity as post-pandemic socialising returns.

Loyalty card DO offer genuine discounts

📍Top line: A review by the Competition and Markets Authority (CMA) has concluded that supermarket loyalty card schemes offer genuine savings on promotions but has cautioned shoppers to remain vigilant and compare prices.

Key Points:

• Savings Confirmed: The CMA analysed 50,000 loyalty price promotions across Tesco, Sainsbury's, Morrisons, Co-op, and Waitrose, finding that 9 out of 10 offered genuine savings, with average discounts between 17% and 25%.

• Consumer Mistrust: Despite the findings, 40% of shoppers believe loyalty prices are not genuine savings, with younger consumers especially skeptical about non-member prices being inflated.

• Excluded Retailers: Asda, Aldi, and Lidl were not included in the review due to their lack of loyalty pricing or the inability to perform a like-for-like product comparison.

• Customer Data Use: Loyalty schemes enable supermarkets to collect and analyse shopper data, which is valuable for targeted advertising and boosting profits, such as Sainsbury's Nectar360 aiming to add £100m over three years.

• Food Price Inflation: While inflation has eased, food prices remain high relative to incomes, adding to the pressure on shoppers.

Elsewhere in business:

✈️ EasyJet has posted a rise in annual profits, buoyed by a second consecutive record-breaking summer and a strong performance in its holiday business. The low-cost airline reported pre-tax profits of £610 million for the year ending September, up from £455 million the previous year.

📮 Royal Mail is on the brink of a sale to Czech billionaire Daniel Kretinsky’s EP Group, with a £3.6bn deal expected to finalise within weeks. Kretinsky has pledged to maintain the universal service, preserve UK tax residency, and avoid compulsory redundancies until 2025. Unions have called talks “constructive,” while the government deems Kretinsky a “legitimate” buyer.

UK car industry in crisis amid transition to electric future

📍 Top line: The UK car industry is grappling with mounting challenges as production fell for the eighth straight month in October, according to the Society of Motor Manufacturers and Traders (SMMT). Declining output, plant closures, and struggles to meet ambitious electric vehicle (EV) targets underscore the pressures facing a sector vital to the economy.

• Production drop: October saw 14,037 fewer cars produced than 2023.

• Export hit: Vehicle exports dropped 17.6%, with 80% of UK-made cars going abroad, half to Europe.

• EV mandate challenges: Government targets for 22% EV sales remain unmet, with just 18.7% achieved.

• Closures and layoffs: Ford UK recently announced 800 job cuts, and Vauxhall's Luton plant closure risks 1,100 jobs.

• Europe struggles too: Bosch, the world’s largest car parts supplier, cut 5,500 jobs, and Volkswagen plans factory closures.

• Future uncertainty: Industry has called for mandate reviews as Chinese competition and high costs grow.

Elsewhere in the economy:

🛵 Food delivery giant Just Eat Takeaway will delist from the London Stock Exchange, citing costs and low trading volumes. Shares will trade exclusively on Amsterdam’s Euronext from 27 December. The decision marks a blow to the UK market as Just Eat grapples with post-pandemic challenges and fierce delivery sector competition.

🏠 Wealthy American families are flocking to London’s prime property market post-Trump's election win. Estate agents have reported a surge in interest, with Cluttons noting a “noticeable uptick” in demand since the election. This builds on a long-standing trend driven by a strong dollar and top-tier schools, with US buyers investing £40bn in UK property in 2022, outpacing European spending.

Ralph Lauren has opened applications to its 2025 Buyer’s Assistant internship in London. Successful applicants will provide integral operational support to the firm’s buying team to ensure financial plans are met and assist in realising seasonal strategies from inception all the way to implementation in store. The 12-month scheme commences in August 2025 and is open to undergraduates and graduates who have a considerable interest in starting a career in the fashion and retail industry. Apply now here.

Major streaming piracy ring dismantled

📍Top line: Italian authorities have dismantled a piracy ring that provided 22 million subscribers across Europe with stolen content from major international streaming services. The operation, which targeted companies like Netflix, Amazon Prime, DAZN, and Disney+, is believed to have generated annual revenues of €3 billion and caused over €10 billion in damages to broadcasters. It marks one of the largest crackdowns on audiovisual piracy globally.

Key Points:

• Scale of Operation: The piracy network captured and resold live programming and on-demand content from streaming giants, using a sophisticated international IT system.

• Revenue and Damages: Estimated annual revenues of €3 billion; damages to broadcasters exceeded €10 billion.

• Law Enforcement Action: Nearly 300 Italian officers conducted raids across 15 regions in Italy, supported by searches in the UK, Netherlands, Sweden, Switzerland, Romania, Croatia, and China.

• Subscriber Base: Advertised through platforms like Telegram, the service offered subscribers access to 2,500 channels for €10 a month.

• Industry Response: DAZN, beIN, and Serie A football league have called for stronger measures to combat content theft, highlighting piracy's detrimental impact on sports streaming and broadcast rights.

Elsewhere in tech:

🚨 Reddit has surpassed X (formerly Twitter) to become the fifth most popular social media platform in the UK, according to Ofcom. In May 2024, Reddit attracted 22.9 million UK adult visitors, compared to X's 22.1 million. This 47% year-on-year growth positions Reddit as the fastest-growing major social media platform in the country.

📱 The European Commission has announced it may launch an investigation into TikTok over allegations it failed to prevent the spread of disinformation and unauthorised campaigning ahead of Romania’s recent election. The move follows a request from Romania’s national media watchdog, which claimed TikTok’s algorithms amplified content supporting far-right presidential candidate Călin Georgescu, who unexpectedly led the first round of voting.

🇮🇱 Foreign Secretary David Lammy has stated he would be legally required to seek a court’s permission to issue an arrest warrant for Israeli Prime Minister Benjamin Netanyahu if he visited the UK, in light of an International Criminal Court (ICC) arrest warrant. This stance contrasts sharply with that of France and other G7 allies, who have refused to arrest Netanyahu.

🎓 Lord William Hague, the former Conservative foreign secretary and party leader, has been elected as the 160th chancellor of Oxford University after a closely contested race. Hague defeated four other candidates, including Labour peers Lord Peter Mandelson and Baroness Jan Royall, as well as Lady Elish Angiolini and Dominic Grieve.

🍔 A recent study published in Nature Human Behaviour indicates that mandatory calorie labels on menus, implemented by the UK government in 2022 to combat obesity, have not significantly impacted consumers' calorie intake. The research found no measurable reduction in the number of calories purchased or consumed following the policy's introduction