Breaking AI & Tech News Analyzed

Asda's executive chair, Allan Leighton, has urged the UK government to take immediate action to support farmers and ease fuel costs, as the conflict in the Middle East threatens to drive up food prices. Leighton warned that food prices would inevitably rise as a result of the conflict, citing pressure on farmers from higher fertiliser, energy, and fuel costs.While Asda has so far received only a trickle of requests for cost price increases from suppliers, Leighton expects the pace of cost increases to be volatile and vary across different commodities. He also warned of temporary shortages at petrol stations as supplies are squeezed by the conflict, with the average price of unleaded petrol in the UK rising to 150p a litre.Leighton accused the government of benefiting from £3bn of income from fuel duties as prices rise and called on them to ease these duties or support farmers on energy or other costs. He suggested that tax from fuel duty should be redistributed to support farmers in some form.The Asda boss's comments come after Simon Wolfson, CEO of Next, suggested that clothing prices could rise by 4-10% if the conflict in the Middle East extends into the autumn and factories are hit by higher fuel and fabric costs. Daniel Ervér, CEO of H&M;, also warned that a prolonged conflict could have a significant impact on consumer spending and cause inflation.Asda's underlying profits dropped by a third to £764m last year, with non-fuel sales sliding 3.3% to £21bn. However, the company reported its first month of underlying sales growth in stores in almost two years in March, after resolving IT problems linked to a switch away from services provided by its former owner Walmart.

Lloyds Banking Group has suffered a significant data breach, exposing personal information of nearly 500,000 customers. The incident occurred due to an IT glitch in its mobile banking apps, which allowed some users to view others' account details, national insurance numbers, and payment references. The glitch, caused by a software defect introduced during an IT update on March 12, potentially affected up to 447,936 customers. Approximately 114,182 people ended up clicking into transactions that revealed sensitive information. Lloyds reported the incident to the Financial Conduct Authority and the Information Commissioner's Office within the required 72 hours. The bank has assured that there is currently no evidence of misuse or malicious activity. The incident raises concerns about customer protections in the digital banking era, especially as banks continue to close branches and push users towards online services. Lloyds has paid £139,000 to compensate 3,625 customers for distress and inconvenience, although no financial losses were reported. The Treasury committee chair, Meg Hillier, emphasized the trade-off between convenience and security in modern banking, stating that consumers must understand the risks associated with online interactions. Lloyds will provide further updates on the incident to the committee in April and September, and is committed to addressing its responsibilities towards affected customers.

The UK government is facing mounting pressure to appoint a Conservative former cabinet minister as the next chair of Ofcom, the media regulator. Jeremy Wright, a former culture secretary and sitting Conservative MP, is competing against Margaret Hodge, a Labour peer and former MP, for the role.The appointment has become crucial amid concerns over the rapid growth of online content and the rise of politically partisan broadcasting. The Online Safety Act, which aims to tackle harmful online content, has created legal pitfalls for Ofcom, leading to claims of paralysis at the regulator.Wright, who was involved in drafting laws to tackle harmful online content, is seen as a strong candidate due to his legal background as a king's counsel and his knowledge of the Online Safety Act. He is believed to be willing to take risks in confronting big digital platforms.On the other hand, Hodge has been seen as the favourite to be appointed by the Labour administration. As chair of the public accounts committee, she built a reputation for attacking big tech over its tax bill and has previously suggested banning online anonymity and making social media directors personally liable for defamatory posts.The delay in appointing a new chair is causing concern, with some warning that it could leave Britain at risk. The new chair must address fundamental flaws in Ofcom's implementation of the Online Safety Act and restore the frayed support and confidence of civil society.A government source said a decision would be made very soon. An Ofcom spokesperson said the regulator looks forward to working with whoever the government appoints as its next chair to make life safer online.

US investors are making significant inroads into Indian cricket, with two separate deals worth a combined $3.41 billion being announced on the same day for teams in the Indian Premier League (IPL).The deals involve the acquisition of the Rajasthan Royals for $1.63 billion by a consortium backed by US businessmen Kal Somani and Rob Walton, the former Walmart chairman. Additionally, the reigning champion Royal Challengers Bengaluru was bought for $1.78 billion by another consortium that includes US billionaire David Blitzer’s Bolt Ventures and US asset manager Blackstone.These transactions underscore the increasing allure of India’s national pastime among international investors seeking to tap into the most popular sport in the world’s most populous country. The valuations for the two teams represent a substantial jump from their original 2008 sales, when liquor baron Vijay Mallya bought RCB for $111.6 million, and Rajasthan sold for $67 million.The IPL, which features the sport’s shortest format called Twenty20, has developed into cricket’s hottest property. In 2022, the broadcast rights for the 2023-27 cycle were bought for $6.4 billion by Disney Star and Reliance Viacom18.“It’s mind-boggling numbers,” Indian cricketing great Sourav Ganguly told local reporters. “But great news for Indian cricket and the way forward. I think it’s already as big as the NBA.”Sport teams overall have become a major target of global investments, as businesses try to tap into new markets abroad and spending from their fan bases. Deloitte analysts wrote in an outlook published last month that the industry is “entering an age of expansion” — and that private equity deals across sports leagues have jumped in recent years.

Matt Brittin, Google's former top executive in Europe, has been selected as the next director general of the BBC. Brittin, who stepped down as Google's president in Europe, the Middle East, and Africa last year, will replace Tim Davie at a critical juncture for the corporation. The 57-year-old's appointment was confirmed after a BBC board discussion on Thursday. Brittin, a former Olympic rower and Doctor Who fan, is seen as a substantial figure capable of diving straight into crucial government talks over the renewal of the BBC's royal charter. However, his lack of editorial experience has been noted by insiders, who worry about his ability to deal with the periodic crises that occur at the corporation. The BBC is now expected to create the role of deputy director general to support Brittin, with a new head of BBC News also to be appointed. Brittin expressed his excitement about the role, stating: “Now, more than ever, we need a thriving BBC that works for everyone in a complex, uncertain and fast-changing world.” Samir Shah, the BBC's chair, praised Brittin's experience, saying he had “deep experience of leading a high-profile and highly complex organisation through transformation”. The appointment comes after some early favourites for the role dropped out or declined to apply amid concerns that scrutiny and political attacks aimed at the BBC have made leading it one of the hardest jobs in public life. Brittin's lengthy career at Google will also be significant in his new job, particularly as the BBC lays out plans to save considerable costs using a new tech division and forges a new relationship with YouTube, which is owned by Google. The licence fee model is also under pressure, with more people opting not to pay.

The UK's Environment Agency is facing criticism for its inability to effectively tackle the growing issue of illegal waste dumping. A report by the Public Accounts Committee (PAC) has highlighted that the agency lacks the necessary powers and intelligence to deal with the problem, which is costing taxpayers £1bn a year.The committee found that there are at least 8,000 illegal dumps across the country, with several large-scale tips containing between 20,000 and 30,000 tonnes of household rubbish and other waste. The problem is attributed to organised criminals who are heavily involved in illegal waste dumping.The PAC chair, Geoffrey Clifton-Brown, stated that the committee's report found that regulators were not sufficiently resourced to follow through with recommendations and carry out their responsibilities towards the environment. The report calls for closer cooperation and intelligence sharing between the Environment Agency, local authorities, police, and other agencies to tackle illegal waste dumping risks.In response, a Defra spokesperson stated that the report was out of date and did not reflect the significant reforms already underway, including publishing a waste crime action plan and investing in the Environment Agency to boost monitoring and investigations.

A newly launched green thinktank, Verdant, proposes that a 'Doge of the left' could save UK taxpayers up to £30bn annually by rooting out waste, fraud, and tax avoidance. This initiative is part of a broader effort to influence the future manifesto of the Green Party, led by Zack Polanski.The thinktank, co-chaired by James Meadway, a former adviser to Labour shadow chancellor John McDonnell, and civil society campaigner Deborah Doane, argues that a crackdown on waste could free up significant resources. This approach differs from the ideologically driven methods of Elon Musk's former Department of Government Efficiency in the US.Meadway emphasized that the political right has monopolized discussions about savings in government spending, leading to disastrous effects. He stated that a 'Doge of the left' would focus on eliminating tax avoiders, profiteers, and fraudsters, ultimately delivering high-quality public services.The report suggests several measures, including:Appointing a 'chief savings officer' to identify waste and fraud.Granting the National Audit Office the power to halt overspending projects.Opening public procurement to more transparent competition.Establishing an internal consultancy function to reduce reliance on costly private consultants.The proposed £30bn in savings is largely based on independent estimates of annual losses due to fraud, waste, under-collection of tax, and lack of competition in procurement. Additionally, Verdant recommends scrapping £3.6bn in tax reliefs and government support for oil and gas producers.Polanski's economic policy speech last week highlighted sweeping changes, including rent caps and a new wealth tax. He also emphasized the importance of protecting consumers from rising energy prices and expressed skepticism about using GDP as a measure of economic performance.

Daniel Křetínský, the Czech billionaire who acquired Royal Mail's parent company for £3.6bn last year, has pushed back against criticisms that the service has declined under his ownership. Despite heavy criticism of late deliveries and price rises, Křetínský insisted that service has not deteriorated. In a defensive performance before MPs on the business select committee, Křetínský said he was “deeply sorry” for any letters that arrive late. Since his takeover, Royal Mail has faced trade union disputes over working conditions, raised first-class stamp prices from £1.70 to £1.80, and delivered 16m Christmas letters late. Křetínský disputed a string of complaints, including that service is getting worse and that more lucrative parcels are being prioritized over letters. He argued that the UK's expectations for next-day delivery at relatively low prices are comparatively high compared to other European countries. For instance, he noted that in Italy, first-class letters cost €5.50 (£4.76) and regulators only require delivery targets to be met 80% of the time. With a week to go until Royal Mail’s service targets are reduced by the regulator Ofcom, Křetínský emphasized that the UK’s expectations remain far higher than those in other European countries. From next week, Ofcom will ease pressure on the postal service by lowering Royal Mail’s targets under the so-called “universal service obligation.” It will only require delivery of 90% of first-class mail within one working day (instead of 93%) and 95% of second-class mail within three days (instead of 98.5%). The committee’s chair, Liam Byrne, began the session by stating that Royal Mail is on track to deliver 220m letters late this year out of a total of 5.6bn. Křetínský denied that the service was prioritizing more profitable parcels over letters, attributing any instances of this to crisis moments rather than policy.

More than 60 Labour MPs have called on Ofcom to take action against 'manosphere' influencers who target men and boys with harmful content, including gambling, sextortion, and violent pornography.The MPs argue that men and boys need protection from these influencers, who exploit young men by 'peddling lies, falsehoods and hate'. According to the Gambling Commission, 53% of 11- to 17-year-old boys see gambling adverts online each week, compared with 31% of their female peers.The Online Safety Act has forced Ofcom to give tech platforms guidance on tackling 'harmful content and activity that disproportionately affects women and girls', but MPs argue that men and boys are also targeted in specific ways. 91% of sextortion victims are male, according to the Internet Watch Foundation.Alistair Strathern, the MP for Hitchin and a co-chair of the Labour group for men and boys, said the Louis Theroux documentary Inside the Manosphere was 'another reminder of a particular way some of the worst of the internet can prey on young men and boys'. He emphasized that protecting men and boys is crucial to tackling violence against women and girls.An Ofcom spokesperson said protections in place under the Online Safety Act were designed to benefit anyone experiencing online abuse, and that their guidance encourages tech companies to use educational and preventive approaches to reduce online abuse.