‘Salt Bae’, AI, Deliveroo, Flybe, Bitcoin payments: your commercial news round-up

As UK lockdown restrictions were eased at the start of the week and several businesses reopened their doors to welcome the public back, aspiring lawyers might want to consider the impact that this might have on the UK economy, as well as the legal and business worlds. That said, remember that there is more to commercial awareness than just Brexit and covid-19 – think outside the box to find a story that interests you and is relevant to your chosen firm and its clients.

• The European Commission is set to announce a set of rules to regulate the use of artificial intelligence (AI) and prohibit its use to track people and rank behaviour. A fine of up to 4% of a company’s turnover is due to be implemented under the draft regulations if rules are breached – EU countries and lawmakers will need to discuss the proposal prior to it becoming law. 
   
• Deliveroo has revealed that its orders more than doubled to 71 million in the quarter ending on 31 March, with strong demand in the UK and Ireland, as well as international markets, according to Chief Executive Will Shu. As lockdown restrictions start to ease, Shu explained that the company is “mindful of the uncertain impact” that this might have as more people return to eating out. The trading update comes after the food delivery company’s initial public offering (IPO) was described as “the worst IPO in London’s history”.
   
• The Competition and Markets Authority (CMA) has provisionally cleared a £31 billion merger between Virgin Media and O2, following an investigation launched in December last year. The watchdog investigated the impact that the merger could have in the UK and chair of the CMA panel Martin Coleman has provisionally confirmed that: "A thorough analysis of the evidence... has shown that the deal is unlikely to lead to higher prices or a reduced quality of mobile services – meaning customers should continue to benefit from strong competition."

• Southampton FC’s latest shirt sponsor, Coingaming Group’s Sportsbet.io brand, agreed a three-year deal with the club and has offered to pay “performance-based bonuses in Bitcoin at the end of each season”. The deal, which has been described as the biggest in the Saints’ history, would enable the club to “take advantage of the new, high-growth currency if it feels it will bring significant future benefits”.

• Collapsed airline Flybe’s business and assets have been sold to private equity firm Cyrus Capital for an undisclosed sum in a rescue deal that presents a more positive outlook for the aviation company. The deal is a “critical first step” in the company’s mission to “accomplish the first-ever rescue deal of an insolvent British airline”, according to a spokesperson for the company. The carrier’s plans to relaunch services this summer are dependent on covid-19 travel restrictions, but plans to re-establish its previous network are on the cards. Flybe’s aircraft are not included in the deal.

• ‘Salt Bae’ – chef Nusr-et Gökҫe – has been sued $5 million for an alleged copyright infringement, after being accused by artist William Hicks of using commissioned artwork without permission. In 2017, Hicks and another artist were reportedly commissioned by the chef to create a mural of Nusr-et’s signature pose, and to install these in the chef’s steakhouse restaurants in Miami, New York, Dubai and Istanbul. According to official court documents, the mural has since been used elsewhere by Nusr-et and his companies, including in window displays and on takeout bags.

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