Mahesh Saptharishi, Executive Vice President and CTO, Motorola Solutions to Participate in Barclays Global Technology ConferenceReeves must unlock the magic of AI if she wants to meet her growth targets, says ALEX BRUMMER By ALEX BRUMMER FOR THE DAILY MAIL Updated: 22:01, 3 December 2024 e-mail 1 View comments Here is an idea for Keir Starmer and Rachel Reeves if they are to have any realistic chance of achieving their growth mission. In the disparaged October 30 Budget, among the scraps of encouragement for business, amid the torrent of £40billion of tax increases, was a commitment to make permanent the Tory policy of ‘full expensing’ for companies investing in new plant and equipment. This is all very fine and dandy, but it shows a 20th Century rather than 21st Century mindset at the Treasury. Reeves must recognise by now, given surveys from the CBI, Institute of Directors and the S&P purchasing managers, that instead of boosting confidence, her Budget has had a baleful effect on investment and new orders. This despite the fact that the UK is an island of political stability compared to Continental rivals Germany and France. If Britain is to have any prospect of outperforming or keeping up with the best in class of the G7, it needs to embrace more strongly what the country does well and technologies which will turn on the boosters. Growth boost: One of the few positive parts of the budget was a commitment to make permanent the Tory policy of ‘full expensing’ for companies investing in new plant and equipment That means extending full expensing to innovations which will speed manufacturing processes, advertising and all manner of professional services. The UK is a pioneer in artificial intelligence (AI). Indeed, Reeves is known to refer to DeepMind, now part of Google parent Alphabet, as a British success story. The way then to boost productivity would be to bring AI investment, software, cybersecurity, connectivity and design costs (yes, even the new pink Jaguar) under the full expensing umbrella. It is not an accident that two of the most admired FTSE 100 companies are Relx and software group Sage, which have both pioneered AI in the UK. RELATED ARTICLES Previous 1 Next Elon Musk vows to fight as his record-breaking £80bn Tesla... Natwest set to return to full private ownership in first... Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account Among the reasons why the Elizabeth Line provides a tangible lift to output is that it is fully wired. Driving output through construction and house building is a slow burn, whereas tech, as the US and Israel show, brings much quicker payback. Britain’s second-class broadband, despite the efforts of Openreach, is not good enough. The sooner that Reeves and other members of a misfiring government recognise this, the more able Britain will be to escape Labour’s despond. NatWest redux As a pre-financial crisis shareholder in NatWest, who foolishly bought into disgraced banker Fred Goodwin’s last-ditch fund raising in 2008, one can only breathe a sigh of relief that the extraordinary lengthy period of part-government ownership is ending. Speaking to the FT’s banking conference, the current chief executive Paul Thwaite (they don’t usually last very long) predicted that, barring an economic shock, it will be back in private hands in 2025. It has been a long haul, and one cannot but think that if successive governments had not been scared of taking a loss, NatWest would have been on the road to recovery much earlier. It would not have suffered the slings and arrows which have held it back over a range of issues. It has been sad to watch promising enterprises such as fintech champion Worldpay ditched, at a low valuation, when it could have been a profit centre for the bank. NatWest has huge reach into Britain’s smaller- and medium-sized businesses and farms, but has long looked like a bank looking for a role. Services such as stock broking and document keeping have been slashed along with a vast branch network which could have been a great asset as it seeks to build-on wealth management. Some comfort can be drawn from a recovery in a sub-octane share price which is up 88 per cent this year. Along the way, NatWest has weathered the storm over debanking Nigel Farage at Coutts. The obsession with do-gooding is still rampant. Each time clients log on to online banking, they are greeted with the appearance of an ad for the DEC Middle East Humanitarian Appeal. That is a turn-off for many customers and needs a re-think. Bottoms-up Is the hospitality sector in danger of crying wolf? After the Budget, it seemed as if every pub in the country might be heading for the knacker’s yard. If that is the case, Marston’s, which operates 1,339 outlets, against all odds managed to record a 64.5 per cent jump in annual profits. It also revealed that the National Insurance increase was ‘manageable’. How curious. DIY INVESTING PLATFORMS AJ Bell AJ Bell Easy investing and ready-made portfolios Learn More Learn More Hargreaves Lansdown Hargreaves Lansdown Free fund dealing and investment ideas Learn More Learn More interactive investor interactive investor Flat-fee investing from £4.99 per month Learn More Learn More Saxo Saxo Get £200 back in trading fees Learn More Learn More Trading 212 Trading 212 Free dealing and no account fee Learn More Learn More Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. 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North Korea, Russia defence treaty comes into forceSAN JOSÉ, Costa Rica , Dec. 5, 2024 /PRNewswire/ -- A new analysis of Costa Rica's identity and digital footprint reveals that the country has consolidated its position by showing significant growth in tourism and exports, according to the 2022-2023 study conducted by Bloom Consulting for esencial COSTA RICA . Based on more than 12.4 million searches, this report highlights how Costa Rica has managed to capture global interest in key areas such as tourism, investment, and exports. In addition, it underlines the country's alignment with the principles of sustainability, a central issue for Costa Rica at the global level. In particular, the aspects of renewable energy, carbon neutral and sustainable products occupy a prominent place in international searches, reflecting the growing perception of the country as a leader in the fight against climate change and in the use of clean technologies, aligning with the 2035 Strategy of esencial COSTA RICA that seeks to consolidate the country as a world leader in sustainability. "This fingerprint study is an invaluable tool to understand how Costa Rica is perceived globally and which aspects generate the most interest in key sectors. It allows us to fine-tune our strategies, projecting the value of Costa Rica in a way that connects with those seeking authentic and reliable experiences in a destination of quality and sustainability, " commented Adriana Acosta , Director of esencial COSTA RICA . Tourism-related searches reached 11 million, positioning Costa Rica as one of the most attractive destinations in the world. The United States leads with almost 50% of these searches, followed by Canada and Germany . Ecotourism, surfing, and luxury tourism niches remain strategic, and searches related to sustainable activities, such as bird watching, hiking, and tourism in national parks. In addition to its strong performance in tourism, Costa Rica has recorded a significant 8% increase in export-related searches. Products such as coffee, flowers and cocoa are the most sought after, with notable increases such as 20% in cocoa searches and 16% in coffee. This shows the competitiveness of Costa Rican exportable supply in international markets, particularly in Europe and North America . Investment searches grew 17%, highlighting topics such as "labor costs," "port infrastructure," and "clean energy." These data confirm the growing interest of international investors in Costa Rica , positioning it as an attractive destination for the development of its operations. One of the highlights of the study is the strength of Costa Rica's digital footprint. Content generated by official sources in the country appears in 83% of searches, which ensures that international perception is aligned with Costa Rica's real offer. The institutions that are part of the governance of the Country Brand play a key role in this positioning, managing reliable and up-to-date information in strategic sectors such as tourism, investment and exports. The analysis also shows how Costa Rica has recovered and surpassed pre-pandemic levels of global interest, particularly in tourism, with a 42% growth in searches. This increase is driven by the reactivation of tourism in key markets such as the United States and Europe , which indicates a strong return of this activity after the pandemic. "One of the objectives of the 2035 Strategy of esencial COSTA RICA is for our country to consolidate its global positioning as an example of sustainability and fight against climate change; and this new digital footprint study allows us to continue evaluating the perceptions of consumers who seek Costa Rica for different objectives, to continue working on those messages," Acosta concluded. With a robust digital identity and an effective content strategy, Costa Rica continues to consolidate its presence in key markets, attracting both tourists and investors and exporters from all over the world, which generates new opportunities for economic development and well-being for Costa Ricans. View original content: https://www.prnewswire.com/news-releases/costa-ricas-digital-identity-reflects-its-international-growth-302323136.html SOURCE PROCOMER
Donald Trump added yet another billionaire to his administration on Wednesday with his announcement that Jared Isaacman will become the next NASA administrator. “Jared will drive NASA’s mission of discovery and inspiration, paving the way for groundbreaking achievements in Space science, technology, and exploration,” Trump wrote on Truth Social. Isaacman made headlines in September after becoming the first private citizen to accomplish a spacewalk while in orbit around the Earth in a SpaceX chartered flight. This was Isaacman’s second chartered flight with Elon Musk’s privatized space exploration program; His first was a three-day orbit around the Earth , financed by Isaacman, which included three other private citizens and boasted no professional astronaut in its crew. Not unlike Musk, Isaacman made his money setting up a payment processing company, named Shift4, when he was 16. The company went public in 2020, making Isaacman a billionaire. Aviation began as a hobby for him , and turned into a business after he founded Draken International, which has had hundreds of millions in dollars in defense contracts with the U.S. Air Force, providing pilot training. Draken also boasts one of the largest private fleets of fighter jets. Isaacman sold his majority stake in Draken International to the Blackstone Group in 2019. In 2022, the Air Force announced it would not be renewing its $280 million "red air" adversary training services contract with the private defense firm saying its services were “inadequate” for training “high end.” In 2021, the then 37-year-old Isaacman linked up with Musk and announced he was chartering a SpaceX flight for his first trip into orbit. “We want to work towards a Jetsons-like world,” Isaacman said in an interview at the time. In a statement on Musk’s social media cesspool X, Isaacman wrote “I am passionate about America leading the most incredible adventure in human history,” promising to work toward “usher[ing] in an era where humanity becomes a true spacefaring civilization.” x I am honored to receive President Trump’s @realDonaldTrump nomination to serve as the next Administrator of NASA. Having been fortunate to see our amazing planet from space, I am passionate about America leading the most incredible adventure in human history. On my last mission... — Jared Isaacman (@rookisaacman) December 4, 2024 Like many of Trump’s picks, Isaacman has no specific science or government background. John Grunsfeld, a former NASA associate administrator and an astronaut, told The Washington Post that Isaacson is “an out-of-the-box candidate.” “He doesn’t have government experience, he doesn’t have previous NASA experience, he doesn’t come from the NASA contractor or the science side,” Grunsfeld said. ” Are you sick and tired of Elon Musk? Click this link for instant access to Daily Kos and staff accounts on Bluesky. Follow along for the latest news to stay informed and engaged!Ohio State, Michigan players involved in postgame scuffle