This week we learned a lot about how financial institutions are responding to an ever-changing market. The Bank of England is looking into ways to protect savers better, TSB’s former head of IT was hit with an hefty regulation fine and Skipton Building Society is developing a new deposit-free mortgage option. Meanwhile, Tupperware highlighted how industry giants can fall foul of their own success and Tesco saw their profits cut by half due to ongoing food inflation. The Premier League’s stance against betting firms had mixed reactions and Alibaba thinks AI can take ChatGPT to the next level. But it was Elon Musk who was in the headlines again after Twitter was sued for a million dollars; presumable the ‘everything app’ is proving challenging in unexpected ways. Topping it off was the news that a pair of sneakers signed by Michael Jordan sold for an impressive $2.2 million.
Tupperware is a multinational household plastic storage and tupperware containers company which had a humble origin as an organization focused on providing simple, revolutionary and innovative kitchen products. The company was founded in Arizona, USA in 1908 by Earl Tupper and has since grown to become one of the leading suppliers of household plastic storage and tupperware containers across the world. Tupperware has recently reached a point where it is facing financial stability issues due to its own success. The company is now looking for outside investments to stay afloat.
Elon Musk is a business magnate, industrial designer, and engineer. He is the founder, CEO, CTO and chief designer of SpaceX; co-founder of Tesla, Inc.; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI. He is also the founder of The Boring Company, which is investigating the potential of building a network of tunnels designed for high-speed transportation. Musk is widely known to create revolutionary products and technologies and his success stories in both the automotive and space industry are unparalleled. His latest mission of transforming Twitter into an “everything app” is proving to be a difficult task, but he is up for the challenge.
