Will 2023 be the great depression start year?

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Senior Labour figures accepted valuable gifts from Google

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  Senior Labour figures accepted valuable gifts from Google in the days before abandoning a plan to tax digital giants more, openDemocracy can reveal. Labour’s shadow business secretary Jonathan Reynolds, his senior parliamentary assistant (who is his wife), and Keir Starmer’s political director all attended Glastonbury festival in June as guests of YouTube, which is owned by Google. Including accommodation and ‘hospitality’, Reynolds estimates his Glastonbury package for two was worth £3,377 – significantly more than the cost of two regular tickets, which were £335 each. The next day, reports emerged that Labour had ditched its proposal to hike tax on digital businesses like Google. The Digital Services Tax, introduced in 2020, is a 2% levy on the UK income of online companies like search engines and social media platforms. In August last year, Reynolds and his shadow chancellor colleague Rachel Reeves had called for an increase in the tax to 10%, saying the income would be used t...
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gamifying fashion retailing

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  Forever 21, the fast fashion retailer owned by Authentic Brands Group, is hopping on the Roblox bandwagon with an exclusive partnership with the gaming platform,  per a press release . It entails the Forever 21 Shop City, wherein users and fashion influencers own and manage stores as they try to become the "top shop." Users start with a ready-to-be-customized glass store and can earn points to expand their store and add options like customized exteriors with lights and architectural themes. Forever 21 Shop City features four themed districts — entertainment, obstacle course, food court and yellow carpet — where users can role play, meet up with friends, discover hidden rare items and build their community. The retailer hopes to engage the popular platform's players through gamifying fashion retailing and by encouraging them to express their individuality with "unprecedented customization options," per the release. Virtual Brand Group, a metaverse creation comp...
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The origins of the pink knickers tax

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  The origins of the pink knickers tax The tariff gap originates from industry lobbying in the 1930s and ’40s,  according  to Washington Post columnist Catherine Rampell. At the time, domestic producers were concerned about foreign competition for goods that required more labor-intensive production (women’s undies tend to have more intricate designs) and those targeting price-sensitive consumers. Zoom out:  The problem is bigger than just underwear. According to Gresser, apparel tariffs account for 75% of the total cost imposed on US consumers by import taxes, and two-thirds of that comes from women’s clothes. —SK
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