Your commercial news round-up: Gatwick runway, Instagram Reels app, AI-related job cuts, Sky piracy

Reading time: four minutes

Exciting developments are unfolding across the globe! In the UK, the government has given Gatwick Airport a tentative go-ahead for its £2.2 billion second runway project, while in Singapore, DBS Bank plans to cut 4,000 temporary roles due to AI integration. Elsewhere, Instagram is considering launching Reels as a standalone app and Sky has accused Amazon of failing to prevent piracy on its Fire TV Sticks, costing Sky millions in lost revenue. Stay tuned for more details on these stories and their potential impact!

• The UK government has given Gatwick airport a qualified green light to go ahead with its £2.2 billion plan to operate a second runway – an expansion that could lead to more than 100,000 additional flights per year at the airport. While Transport Secretary Heidi Alexander has issued a “minded to approve” letter, Alexander’s support doesn’t guarantee the expansion will move forward. The government’s final decision is due to be made at the end of October, with Gatwick having until 24 April to agree to meet additional conditions, such as noise mitigation and public transport access to the airport. Gatwick said the expansion will boost the local economy and create thousands of jobs, but critics are worried about the potential carbon emissions and noise pollution from a second runway. Chair of Gatwick Area Conservation Campaign, Peter Barclay, said the group will “legally challenge this dangerous and irresponsible decision” and highlighted “the government’s failure to recognise Gatwick’s false economic claims and its plans to fly in the face of climate breakdown”.
   
• Instagram is reportedly in talks to launch its Reels feature as a separate app, which may be a strategy to compete directly with TikTok. The information comes from a meeting with staff where head of Instagram, Adam Mosseri, talked about the potential move, as reported by business publication The Information. The move is considered as TikTok, owned by Chinese company ByteDance, faces ongoing uncertainties about its future in the US following the app’s temporary shutdown and Donald Trump’s executive order to delay the ban. Meta, Instagram's parent company, is yet to officially comment on the potential launch of a separate Reels app.
   
• Singapore's largest bank, DBS Bank, has announced plans to cut approximately 4,000 roles over the next three years due to the integration of AI in its operations. The plans will primarily affect temporary and contract staff through "natural attrition", while permanent staff won’t be affected. In addition, the bank plans to create around 1,000 new AI-related jobs, making DBS one of the first major banks to disclose how AI will affect its operations. A spokesperson from DBS said: "Over the next three years, we envisage that AI could reduce the need to renew about 4,000 temporary/contract staff across our 19 markets working on specific projects." DBS's move highlights the broader impact of AI on the global workforce, with the International Monetary Fund estimating in 2024 that nearly 40% of all jobs worldwide could be affected by AI.
   
• British broadcaster and telecommunications company Sky has accused Amazon of failing to prevent piracy on its Fire TV Sticks, which are being manipulated to access Sky's subscription content (eg, Premier League football and Formula 1) illegally. Sky’s Group Chief Operating Officer Nick Herm highlighted at the Financial Times’ Business of Football Summit that this form of piracy is costing the company “hundreds of millions of dollars”, with jailbroken Fire Sticks accounting for “about half” of this illegal activity. Herm added: “It’s basically organised crime. We work closely with the police. The sums are huge. It’s a battle and you need a lot of people to lean in to solve it.” Amazon responded to the accusations by highlighting its commitment to “actively promoting a streaming landscape that respects intellectual property rights” and that the company has “included on-device warnings informing customers of the risks associated with installing or using apps from unknown sources”.

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