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In a significant development in the ongoing cost of living crisis, inflation has fallen to 2%. Chief economics correspondent Ed Conway provides a breakdown of the latest inflation numbers and presents a chart that tells a different story. However, while this news is certainly welcome, there are still question marks surrounding the overall situation.
In entertainment news, pop sensation Taylor Swift made a whopping £450 order at a kebab shop. And in the business world, a woman shares her inspiring journey from a stay-at-home mom with no qualifications to the owner of a successful law firm.
In other news, customers of delivery giant Uber Eats can now have their orders picked, packed, and paid for inside supermarkets. Major retailers such as Co-op, Sainsbury’s, and Waitrose have signed up for this service in the UK. Uber’s global head of grocery Susan Anderson explains that this move is in response to the changing trends in grocery shopping, where people are relying more on delivery apps for their fresh produce.
Meanwhile, Wall Street’s largest bank JP Morgan Chase is lifting the bonus cap for its London-based employees, following in the footsteps of rival Goldman Sachs. This decision comes as the post-Brexit era brings changes to industry pay.
After numerous reports of errors in orders, McDonald’s has announced the end of its AI drive-thru trial. Customers have shared videos of mix-ups, including bacon being added to ice cream and large quantities of chicken nuggets being charged to their account. The fast food chain’s AI ordering system, developed by IBM, was implemented in over 100 US locations in 2021.
In the world of finance, Mastercard is introducing a new way for customers to make online payments. By 2030, the company aims to have all online transactions “tokenized”, where customers will receive a randomly generated number to use for future payments, reducing fraud and increasing safety. Jorn Lambert, chief product officer at Mastercard, believes that this move will bring the same seamless contactless experience to online checkouts as seen in physical transactions.