Business Update – 22 February 2023

Business Update – 22 February 2023

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Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Getting over-50s back to work isn’t working

The government is trying to fix chronic staff shortages by enticing people in retirement back to work, but a new survey shows that long-term sickness and pressure on the NHS are keeping this group out of the workforce and signal more significant societal problems.

Further pay rises coming for Tesco staff

Tesco will increase hourly pay for shopfloor staff by 7% to a minimum of £11.02 an hour starting in April, its third pay rise in a year amid heavy competition for workers.

£7.5bn compensation claim is in the works for major credit card companies

A London-based commercial litigation law firm is about to file a claim against Mastercard and Visa for overcharging businesses for multilateral interchange fees. It could be among the most significant competition compensation claims in UK history.

Chinese airlines flying through Russia have an unfair advantage

Since the Russian invasion of Ukraine nearly a year ago, European, Canadian, and U.S. airlines have avoided Russian airspace, making long-haul routes take longer and cost more. As China reopens and flies directly through Russia, other international airlines say they have a leg up.

No more SMS two-factor authentication on Twitter unless you pay

Twitter warned non-Twitter Blue users using SMS 2FA authentication that they have 30 days to switch to another 2FA method. Find out how to keep your account secure here.

Everyone’s scrambling to get on board with AI

With the release of ChatGPT in November, it seems that everyone’s talking about the potential of AI. Everyone from students to CEOs is trying to keep up as we figure out how this new technology fits into our lives.

Meta follows in the footsteps of Twitter

Mark Zuckerburg announced that Meta is launching a pay-for-verification subscription service called Meta Verified for Facebook and Instagram, much like Twitter Blue. The launch begins in Australia and New Zealand this week, with more countries to follow.

Bitcoin is booming, but why?

Everyone’s watching as Bitcoin continues to make steady gains in 2023. But will it climb back to $20K? Forbes has some ideas about why the price of crypto is suddenly climbing again.

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