NEWS DIGEST 25.09.2022: Business news from NewsMap

Good morning. This Sunday we bring you news on the world’s business stories from NewsMap.JS .

It should be said that most people in the country do have some level of savings – recent figures from the Central Statistics Office says that nearly 97% of households have some form of savings. Consumer spending did rise – and some people seemed to put their savings towards some big ticket items, like a trip abroad. Some of the rapid rise in house prices has also been attributed to people directing their savings towards a deposit on a new home. If you put that €1,000 into your savings at the start of the pandemic, in terms of buying power, it’s now effectively worth less than €890 because of inflation. So using up all of your savings isn’t a good idea either way. The State Savings scheme, including things like the National Solidarity Bond and Prize Bonds are effective an attempt by Government to benefit from people’s savings, too – Can Ireland’s bumper savings be put to good use? (RTÉ ~ News – Business)

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Every day, Mark Zuckerberg wakes up to a flood of bad news. “I look at my phone to get like a million messages,” he says. “It’s usually not good.” The founder of Facebook, now known as Meta, has been forced to grapple with a stream of crises that have beset the technology giant in recent years, raising fundamental questions about its future. Privacy scandals, internal dissent and high-profile departures are just some of the issues weighing on the Silicon Valley prince’s head. In one of the biggest blows, Sheryl Sandberg, Zuckerberg’s chief operating officer and top lieutenant for 14 years, will leave this autumn. Sir Nick Clegg, the company’s most senior communicator, has departed sunny California to live in London again – How Mark Zuckerberg got lost in a bizarre virtual world (The Telegraph ~ Business)

Landlords will pocket thousands of pounds in savings thanks to the biggest tax boost for investors in years. On Friday Kwasi Kwarteng, the Chancellor, announced a radical reform of the tax system, including stamp duty, corporation and dividend tax. The tax cuts have been welcomed by landlords who have shouldered years of punishing tax and regulatory changes which forced tens of thousands of investors to leave the buy-to-let market. Some landlords have now suggested the changes could slow the exodus by cushioning falling yields – Tax breaks for landlords to reignite buy-to-let market (The Telegraph ~ Property)

The personal details of the Duchess of York, Jeremy Clarkson and Sir David Attenborough have been leaked by Russian criminals who hacked into the database of luxury food firm Daylesford, The Mail on Sunday can reveal. The firm is reported to have delivered food to Boris Johnson during lockdown, but the former PM is not among the clients whose details were leaked. Among the leaked Daylesford files are order sheets for wealthy clients, receipts for purchases by Lord and Lady Bamford and sensitive data including staff grievances, confidentiality agreements, and banking information. As well as a farm shop on the Gloucestershire estate of the Bamfords – Daylesford House – the firm also has four shops in London and an online store. It offers ‘award-winning fresh produce, artisan ingredients, high-welfare meat and essential larder items from our organic farm delivered to your door’, including a ‘limited edition’ 800g jar of honey for £50, a £25 box of loose-leaf green tea and a 500ml bottle of olive oil for £30. Two months ago, ex-PM Boris Johnson and wife Carrie held their wedding party at Daylesford House, the Bamfords’ Grade I listed home – Personal data of celebrities including Jeremy Clarkson, the Duchess of York, and Sir David Attenborough is leaked on the dark web after Russian ransomware attack on luxury organic farm shop (Mail Online News)

Happi Free From has issued a food recall on Oat M!lk Chocolate Bars, supplied to Tesco, because they contain undeclared milk. This means the product is a possible health risk for anyone with an allergy or intolerance to milk or milk constituents. The Food Standards Agency issued a risk statement regarding the recall: “This product contains milk making it a possible health risk for anyone with an allergy or intolerance to milk or milk constituents.” Tesco’s point-of-sale notice reiterates that the chocolate bars may contain traces of milk. “The FSA advised: “If you have bought the above product and have an allergy or intolerance to milk or milk constituents do not eat it.”Tesco issues urgent recall on popular chocolate bar amid health fears – ‘do not eat’ (Express ~ Home – Life & Style – Food)

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