The world goes bananas 🍌

Morning all. It has finally happened, the world has gone bananas. At an art auction in New York last week, a banana duct taped to a wall sold for $6.2m (£4.9m) - since you can buy a banana from Tesco for 19p, and a roll of duct tape from Screwfix for £3.99, that’d be a cool £4,899,996.82 profit, or a return on investment of 117,224,780%! (Yes, I know, profit before any commissions etc).

Top tip for homeowners - complement each wall with a banana before viewings and you could boost the value of your home from a two-bed semi, to that of a multimillion manor house faster than you can say stamp duty!

MARKETS

Data: Google Finance, 5-day Market Close

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PROJECT WATCH

☢️ Hinkley Point C receives generator stator. Read more

⚡ Offshore charging system deployed in Port of Aberdeen. Read more

🌊 Well-Safe Solutions wins £20m in North Sea decommissioning work. Read more

📰 THREE60 Energy win first ever ‘multi-asset decommissioning scope’. Read more

ECONOMY & FINANCE

Energy bill rise sends inflation skyward
Inflation has waltzed past the Bank of England’s 2% target, landing at 2.3% in October—driven (or perhaps shoved) upward by surging energy bills. According to the Office for National Statistics (ONS), this marks a sharp leap from September’s cosy 1.7%.

The headliner? Ofgem’s energy price cap, which now boasts a painful £149 increase, pushing average annual dual-fuel household bills up to a sweltering £1,717 for England, Scotland and Wales. No doubt, just in time for families to debate whether heating or Christmas fairy lights will take priority this year.

While families groan over gas and electricity costs, services inflation had a cheeky nudge upwards, ticking from 4.9% to 5%. Even core inflation (strips out volatile food and energy) did an unexpected U-turn, jumping from 3.2% to 3.3%. All this leaves the Bank of England bracing itself for a standstill on rate cuts this December, not to mention wondering if they should still bother having mince pies at their year-end Monetary Policy Committee meeting.

And while Black Friday continues to hit the high street this week, many of us might ironically find ourselves in the red. Between inflation, incoming rationed rate cuts, and higher household expenditure across the board, one thing’s for sure: wallets will feel thinner, even if most of us won’t after Christmas dinner.

Bumpy road for Ford with job cuts announced
Ford has announced plans to cut 800 jobs across the UK in the next three years, as part of a Europe-wide "streamlining" effort that will axe 4,000 posts in total. Frankly, it’s a grim pit stop for a company battling weak demand for electric vehicles and economic headwinds stiffer than a north wind in February.

For UK staff, it’s even worse news – this marks the second round of cuts in under two years, with the Dunton research centre seemingly in the crosshairs.

The Dagenham and Halewood manufacturing sites, as well as Southampton’s logistics hub, are being spared – a small mercy for those holding the fort on diesel engines, gearboxes, and soon-to-be electric motors. But elsewhere, the axe looms over six UK locations, including the massive Daventry parts depot. Seems there’s no such thing as job security in the season of goodwill.

The devastation isn’t unique to Ford. Across Europe, automakers are choking on a cocktail of high energy costs, wavering electric car demand, and competition from Chinese manufacturers, who seem to be undercutting them faster than a DFS sofa sale.

POLITICS

"Earn or Learn"
Work and Pensions Secretary Liz Kendall has revealed Labour’s plans to overhaul youth benefits. Under the new "Youth Guarantee," 18-to-21-year-olds will be required to "earn or learn," with benefits on the line for those who refuse to engage in work or training.

Kendall defended the move as essential to breaking cycles of long-term unemployment, pointing to figures showing nearly a million young people currently out of education, employment, or training. With economic inactivity at record highs, Labour is likely betting this tough-love approach will resonate with voters.

The return of the Asbo (sort of)
Remember Tony Blair’s Asbos? They’re back—just under a new name. Labour has unveiled "respect orders" to tackle anti-social behaviour, with powers to ban persistent offenders from public spaces or drinking in parks. Breaching these orders could land offenders two years in jail or an unlimited fine, making this a more severe tool than its predecessor.

Home Secretary Yvette Cooper has promised the measures will target "hooligans who wreak havoc on local communities," while addressing the root causes of offending with anger management and substance abuse treatments. However, some charities, including Liberty, warn the orders risk criminalising the vulnerable.

Brown’s stand against assisted dying
Gordon Brown has stepped into the debate on assisted dying, delivering a heartfelt rebuke to Kim Leadbeater’s Terminally Ill Adults (End of Life) Bill. Calling for a decade-long palliative care strategy first threatens to derail the bill, which includes safeguards requiring approval from two doctors and a High Court judge. Supporters of the bill, including some within Labour, argue it offers dignity and choice to terminally ill patients.

Brown cited a poll showing that 70% of Britons want improved end-of-life care before considering assisted dying legislation. With the NHS stretched thin, Brown’s stance resonates, but it leaves Keir Starmer’s government grappling with a divided house ahead of next week’s debate.

ACROSS THE POND

Thanksgiving week
Thanksgiving lands on Thursday this week - something you’ll probably not have realised unless you’re collaborating with your counterparts or clients in the states. Here’s a stat for you though - the USDA expects 46 million turkeys will be gobbled on Thursday, by 87% of the population of America. Total predicted spend on turkeys is expected to drop this year to $983.3 million, from $1.3 billion last year.

Remote federal workers, “Get off our LAN!”
The dynamic duo of controversial tech mogul Elon Musk and political maverick Vivek Ramaswamy have taken their shows from Silicon Valley to the White House – in imagination, at least. Set to lead the Department of Government Efficiency, they've proposed a bold new vision: an America where government employees are never found in their home offices. Needless to say, their plan involves the five-day office week we all knew and loathed pre-2020.

Musk and Ramaswamy argue office camaraderie is currently on annual leave and only a mandatory commute back to the desks of yore can bring it back. Want to reclaim your mornings lost to endless Teams calls? Dream on, they say. Instead, they propose trimming the federal workforce not through diet and exercise, but a mass quitting spree – the solution for taxpayers tired of coughing up for Zoom-botherers.

More turbulence for Spirit
In the latest episode of the airline industry's soap opera, Spirit Airlines has filed for Chapter 11 bankruptcy protection, grappling with losses, swelling debt, and the spectacular crash landing of a failed merger during this post-pandemic travel slump. It seems just surviving the pandemic wasn't enough, they had to make a spectacle of recovery too.

Spirit, the budget-friendly airline headquartered in sunny Dania Beach, Florida, announced they've penned a prearranged symphony with bondholders, securing a $300 million baton to conduct their finances until early 2025. A timely move, especially as Americans are about to elbow their way onto planes for Thanksgiving, mid-frozen turkey and squabbling relatives.

TECH

Bitcoin, $100k inches away
Bitcoin is on a tear, nearly hitting the $100,000 mark—ever since the crypto-friendly policies of President-elect Donald Trump. Since his victory, Bitcoin has surged 45%.

The road to $100K has been a wild one, from Bitcoin’s humble beginnings (10,000 coins for a pizza in 2010) to the SEC approving multiple spot Bitcoin ETFs this year.

Google Chrome’s cookies crumble?
Browser dominance is rubbing US prosecutors the wrong way. In a 23-page legal tome, the Department of Justice (DoJ) has called for Google to part ways with Chrome and stop using Android to push its search engine on users. Prosecutors argue that Google’s monopoly—an eye-watering 90% of the search market—is suffocating competition.

This is no slap on the wrist; they’re asking for a decade-long regulation regime. Google, predictably, is appealing, claiming these measures would "hurt consumers". The trial’s slated for April, but with Trump back in the Oval Office, the legal landscape may shift faster than you can hurriedly clear your browser history.

Robos doing the distance
In a marathon first, a four-legged robot named RAIBO2 crossed the finish without having to recharge once. Korea’s Advanced Institute of Science and Technology (KAIST) tackled the gruelling 42km, don’t forget the extra 0.195km, Sangju Marathon in 4hr20—seven minutes faster than last year’s London average. Beijing ’25 will see the world's first humanoid robot marathon.

WORLD

A waterproof digital nation
The Pacific island nation of Tuvalu, facing existential threats from rising sea levels, is creating a replica of its islands to preserve its culture, heritage, and sovereignty. Known as the Digital Nation project, it involves backing up everything from homes to beaches.

While much of Tuvalu’s critical infrastructure could be underwater by 2050, this initiative aims to ensure the nation continues to exist in the metaverse. The project also tackles legal challenges, such as redefining statehood to allow the government to function digitally with blockchain passports and online governance.

Tuvalu’s government insists it complements ongoing efforts to physically protect the islands through land reclamation and seawalls. As seas rise, Tuvalu’s bold pivot to a digital future offers a model for other vulnerable nations, our little island being one too.

Russian missiles, North Korean troops
South Korean intelligence has revealed Pyongyang has sent over 10,000 troops to support Moscow. In return, advanced air defence missiles. Reports suggest North Korea’s soldiers are fortifying Russian positions and may already be engaged in combat.

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Cuppa Chat: Cheat Sheet

💡🏰 Four gilt-bronze wall lights, originally from Madame de Pompadour's grand salon, have been discovered in a Yorkshire hotel and will be auctioned for up to £1m at Sotheby’s in December.

⚠️👦 Pinwheel launches a child-safe smartphone in the UK, featuring an operating system with parental controls.

🌐📱 Internet access should be considered a human right, according to a study by Dr Merten Reglitz from the University of Birmingham.

💰💳 Big Issue vendors across the UK will receive refurbished devices from giffgaff to facilitate contactless payments.

🛐🤖 In Lucerne, Switzerland, Peter's Chapel has installed an AI-powered Jesus capable of conversing in 100 languages.

🛜🧑‍🦲 Andrew Tate's "The Real World" educational platform has been hacked, exposing over 700,000 user details and chat messages.

🎤✨ Pamela Hayden, famed for voicing Milhouse on "The Simpsons," is stepping down after 35 years.