Brexit moves, lottery fails and Bono’s capitalism reprise
Planet Business: From a ‘wild beast’ at Davos to James Dyson’s Singapore journey
Capitalism is “a wild beast”: U2 frontman Bono takes centre stage in a panel session at the World Economic Forum in Davos. Photograph: Laurent Gillieron/Keystone via AP
In numbers: It shouldn’t be you
Percentage of teenagers under 18 who were not refused a National Lottery scratch card by a retailer in a compliance test conducted by the Office of the Regulator of the National Lottery.
Percentage of the 510 retail premises tested in the mystery shopper exercise that did not have the mandatory “over 18” sign on display.
Percentage of children aged 10-17 who told Ipsos MRBI researchers that they had purchased National Lottery tickets with their own money.
Image of the week: Wild beast
“It’s amazing how much of business is just stating the same things over and over again,” says Greta Gerwig’s character in the film Mistress America. As it is in business, so it is at Davos, where the annual World Economic Forum has been blessed by an appearance from Bono. The U2 frontman had such gems as “capitalism isn’t immoral – it’s amoral”, capitalism is “a wild beast” and capitalism has lifted more people out of poverty than any other “ism”, all things he has said before. This time, to be fair, is audience was world leaders, and they love a “greatest hits”. There was no word on how much poverty capitalism has actually created, but maybe he’s saving that for the limited edition.
Getting to know: Jair Bolsonaro
Few people would have confused new Brazilian president Jair Bolsonaro with Sir David Attenborough before this week’s Davos shindig, but the far-right populist still managed to trigger alarm bells among environmentalists and other humans after a speech that appeared to prioritise “much needed economic development” in Brazil over the preservation of the Amazon region.
Bolsonaro, who has previously accused international NGOs of “sticking their noses into Brazil”, had already been sharply criticised by indigenous leaders and others earlier this month for transferring the regulation and creation of indigenous reserves to an agriculture ministry controlled by Brazil’s powerful agribusiness lobby. It will likely be a colourful presidency for Bolsonaro: his son Flavio is being investigated for alleged financial irregularities.
The list: Brexit manoeuvres
Pro-Brexit vacuum cleaner entrepreneur James Dyson says Dyson’s decision to move its headquarters from Britain to Singapore has nothing to do with Brexit, and is instead about making Dyson “future-proof”. These companies, however, haven’t wasted time attributing the blame for their immediate need for a new address.
2: Panasonic. Sony’s rival has already eyed up a place in Amsterdam to avoid tax headaches created by the UK’s decision to leave the European Union.
3: Bank of America Merrill Lynch. It has already completed the relocation of its main EU banking arm, plus some 100 staff, from London to Dublin.
4: Moneygram. The US money transfer giant may still have operations in London but it has also become familiar with the charms of Brussels over the past year.
5: UBS. The Swiss bank is now in the process of shifting staff from London to Frankfurt, after choosing the German city for its post-Brexit EU base.