Today's business and finance round up 18th May 2022
More job vacancies than unemployed for first time on record
18th May 2022
Bite-sized business news from the UK and beyond
Good morning Last week Facebook owner Meta opened its first physical store to showcase its new virtual reality headsets. Right now, only 26% of teens own a VR headset and a mere 5% use it on a daily basis. Hence why Meta is – ironically - really counting on these in-person experiences to hype up the metaverse. And considering the company has used over $10bn to create the unique platform, Meta are believers through and through, even if it takes until 2032. Talk about being in it for the long haul.
Today's stories
- Tight spot – More job vacancies than unemployed for first time on record
- Access denied – Big Tech signal the end of passwords
ECONOMY
More job vacancies than unemployed for first time on record
- The early retirement of nearly 250,000 over 50s.
- The exodus of EU citizens following Brexit especially in the fruit picking, HGV driving and hospitality sectors.
- The rise in the number of people reporting being long term sick.
Other stories to keep you in the loop
- Tesco to pay out more to pig farmers as industry warns of ‘critical’ situation
- Netflix lays off 150 employees amid subscriber decline
- Buzzfeed runs out of buzz as losses swell and time spent on sites dwindle
- London ‘buy now, pay later’ startup Zilch heads to Miami
- Elon Musk warns Twitter deal stuck without fake account proof
- Obamas and Airbnb CEO launch $100m scholarship
- Global firms are boosting baby formula supplies in the US
TECH
Big Tech signals the end of passwords
Stat of the day
Nearly $500bn was wiped off the crypto market last week
Interesting links from around the web
- How to suss out if someone is lying, according to science
- The tool that tells you how to say “I told you so” in every professional way possible
- 5 places around the world where people live the longest
