Daily Mail, Thursday, August 8, 2019THE fast-growing production
arm of British broadcaster
Sky has bought a stake in a
Bristol documentary maker.
Sky Studios now controls
24.9pc of True to Nature,
which was started by former
BBC natural history unit boss
Wendy Darke three years
ago. It is behind a string of
programmes that have been
snapped up by broadcasters,
including the Expeditionseries starring explorer Steve
Backshall (pictured) which
airs on Dave.
Sky Studios said its invest-
ment is designed to help True
to Nature expand and ramp
up its production of wildlife
shows around the world.
It is the first investment to
be made by Sky Studios,
which was launched last
month as a pan-European
production business.Green belt row
sparked by L&G
housing drive
by Matt OliverCBI: embrace rise of robots
IT MIGHT conjure up images of
robot overlords seizing control
of the planet.
But unless we learn to love
artificial intelligence, lobbyists
warn, Britain will fall behind in
the global technology race.
The Confederation of British
Industry says UK companies
should boost their productivity
by embracing AI, which can
carry out a huge range of repeti-
tive tasks from analysing legal
documents to detecting finan-cial fraud. But the CBI says mis-
trust in robots could mean the
country misses out on a £232bn
economic boost.
It is encouraging firms to har-
ness computing power by work-
ing with staff, and explaining to
customers how data is used.
Felicity Burch, CBI director of
digital and innovation, said: ‘At
a time of slowing global growth,
AI could add billions of pounds
to the UK economy and trans-
form our stuttering productivity.With the global tech race heat-
ing up, the UK is well placed to
lead the world in developing
ethical AI, which uses data
safely and drives progress in
business and society.’
Experts have previously
warned that huge numbers of
workers will become redundant
due to the rise of the machines.
In 2016, Bank of England Gov-
ernor Mark Carney claimed that
automation could destroy 15m
British jobs.CENTRAL banks are cutting interest rates as fears
grow of an economic downturn.
New Zealand, India and Thailand are the latest
countries to announce larger than expected
cuts, amid concerns about slowing growth rates
and weak inflation. Australia’s central bank also
decided to hold its rate at a record low.
Last week, the Bank of England held its base
rate at 0.75pc and the US Federal Reserve made
its first cut since the 2008 financial crisis.
Concerns about the global economy have
prompted investors to pile into save haven
assets such as gold and bonds. The rush contin-
ued yesterday as German economic data
showed the country’s factories had suffered
their biggest slump in a decade.More central banks
slash interest rates
PAddy Power owner Flutter blamed tougher
regulations for a plunge in first-half profits.
The betting firm’s profit dipped to £81m in the
six months to June 30 – down a quarter on the
same period last year – after a £47m increase in
taxes and duties. However there was an 18pc
increase in revenue to £1bn.
Flutter’s online, Australian and US divisions all
reported revenue growth, but its retail arm
declined due to the UK Government’s restrictions
on fixed-odd betting machines.
It also suffered from a doubling of tax on sports
betting in Ireland. Flutter expects to grow its
market share following the changes, as less profit-
able competitors cut back.
For the full year, Flutter expects its American
arm to lose £55m as it seeks to increase customer
numbers there.Paddy Power hit
by tough regime
Page 73SKY SNAPS UP STAKE IN
TV NATURE COMPANY
BRITAIN’s biggest invest-
ment manager has been
dragged into a row after it
agreed to pay to build homes
on the green belt.
Legal & General has backed
Oxford University’s plan for
2,000 homes at Begbroke, a vil-
lage with a science park just
outside the city.
The university says it will help
tackle a housing shortage and pro-
vide accommodation for students
and academic staff.
But the proposals face fierce oppo-
sition from nearby residents who
say it will carve up protected green
space and lead to urban sprawl.
The row is an embarrassing set-
back for L&G, which is ramping up
efforts to fund housing and infra-
structure schemes across the UK.
Chief executive Nigel Wilson (pic-
tured) has said the Oxford partner-
ship, under which L&G will provide
cash and the university provides
land, will be a blueprint for
similar proposals elsewhere.
But campaigners are bit-
terly opposed. Giles Lewis
of the Cherwell develop-
ment Watch Alliance, said:
‘This would be on pro-
tected green belt land and
there are still questions
about how the figures for
unmet housing need in
Oxford have been cal-
culated. There are
strong feelings
about this – peo-ple are very much opposed to it.’
Helen Marshall, of the Campaign to
Protect Rural England’s (CPRE)
Oxfordshire branch, said: ‘you have
to ask: “What kind of city do we
want Oxford to be in 50 years’ time?”
These types of schemes would put it
on course to be a metropolis like
Birmingham. Others would argue
this is a historic countryside area.’
The Begbroke proposals have not
yet been approved by Cherwell dis-
trict Council, but they are part
of a broad ‘local plan’ for the
area that was recently sup-
ported by a government plan-
ning inspector.
However, the CPRE is explor-
ing possible legal challenges
which could cause months,
and possibly years, of delays.
A development would be part
of a £4bn deal struck
between L&G and
the university,
which also
includes severalother sites in the area. The plans
put L&G at odds with new Prime
Minister Boris Johnson.
during the Tory leadership com-
petition, Johnson said: ‘The idea
that green field or green belt land
needs to be sacrificed to
build affordable homes is
a nonsense.’
The university and
L&G insisted the pro-
posals would provide
‘much needed housing’
for staff and Oxford as
well as more high-tech
jobs at the science park.
‘The district council has
proposed that this land
be removed from the
green belt and desig-
nated for development,’
they said.
‘We support this pro-
posal and want to make
the best possible use of
the land for new housing
and employment.’JOHNSON URGED TO ACT
THE boss of Legal & General has
called on Prime Minister Boris
Johnson to boost spending on
Britain’s infrastructure.
Nigel Wilson said that Whitehall
could do more to support coun-
cils which want to modernise cit-
ies. Several cities around the UK
need private money, he added,
and firms like his have the cash to
spend but need more encour-agement from politicians. He
said: ‘It would be good to have
some focus from central govern-
ment in fulfilling a bigger role in
education, housing, health,
transport and energy.
‘There are huge investment
opportunities and there isn’t a
shortage of capital in the world.
You have to have political intent
and political will to get it done.’ПОДГОТОВИЛА
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