Month: January 2025

Plans for a UK “digital pound” have hit a snag as Bank of England officials grow increasingly sceptical about the project, raising doubts that any form of “Britcoin” will be introduced before the end of the decade.
The Bank and the government had been set to decide in 2025 whether to press ahead with formal development of a UK central bank digital currency (CBDC), with the original goal of an official launch by 2030. However, insider concerns over privacy, potential high costs, and persistent conspiracy theories have cast fresh uncertainty over the project’s future.
A “digital pound” would theoretically provide consumers with a secure electronic form of money, with transactions managed via smartphone apps and underpinned by the safety net of central bank backing. Yet some politicians and conspiracy theorists claim a CBDC could enable governments to restrict or monitor how people spend their money. Nigel Farage, leader of the Reform Party, has gone so far as to warn that a digital pound “will give the state total control over our lives.”
These anxieties—combined with practical concerns about the expense and complexity of creating a national digital currency—are weighing heavily on policymakers at the Bank. According to sources close to the process, officials are split on whether the benefits outweigh the potential pitfalls. Ultimately, a final decision to move forward will rest with Bank governor Andrew Bailey and Chancellor Rachel Reeves.
International developments also complicate matters. In the US, lawmakers passed an “anti-surveillance” act in the House of Representatives, aiming to block any attempt to launch a digital dollar unless Congress explicitly authorises it. Meanwhile, the European Central Bank will decide at the end of 2025 whether it will forge ahead with a digital euro, despite resistance from Germany’s conservative Christian Democrats over user privacy.
These moves reflect a broader hesitance over CBDCs, particularly those intended for everyday use by retail customers. While authorities in the UK and Europe once viewed these digital currencies as a necessary response to private “stablecoins” such as Facebook’s now-defunct Libra, enthusiasm has faded in the face of technical and political obstacles.
Despite this growing coolness toward retail currencies, the push for a “wholesale” CBDC—used among commercial banks and financial institutions—remains strong. Policymakers believe a wholesale version could help streamline large interbank transactions and reduce systemic risk, without triggering many of the privacy concerns associated with consumer-facing digital money.
A Bank of England spokesperson confirmed that work on the digital pound remains “ongoing,” with no formal decision yet made on whether to proceed. They emphasised that any eventual introduction of Britcoin would be accompanied by primary legislation ensuring user privacy and control of their funds, in a bid to quell mounting public anxieties.
Read more:
Bank of England casts doubt on ‘Britcoin’ launch amid privacy and cost concerns

David Beckham’s business empire has delivered a bumper payoff worth almost $36 million, thanks to surging profits at DRJB Holdings, the company behind his global licensing deals.
Newly released financial statements reveal that the former England footballer received a $12.8 million dividend for 2023, followed by a further $23 million this year, underscoring the enduring appeal of the Beckham brand a decade after he hung up his boots.
In the year to December 2023, DRJB more than doubled its pre-tax profits, rising from $16.2 million to $36.2 million. The company, whose name derives from Beckham’s full name, David Robert Joseph Beckham, earns income from a wide array of endorsements and licensing agreements that feature Beckham’s name and image on everything from clothing to consumer goods. The brand’s reach has grown even further thanks to a hit Netflix series documenting the life of David and his wife, Victoria—the fashion entrepreneur and former Spice Girl—first aired in October 2023.
The four-part show was produced by The Studio 99 group, owned by DRJB, and proved an immediate success, charting in Netflix’s top ten across all 90 countries where it tracks viewership. In its newly published accounts, DRJB credits the documentary for boosting earnings, in tandem with a steady stream of brand partnerships. As well as recent deals with Boss, Tempur, Coty fragrances, EA Sports, Nespresso, and Uber Eats, Beckham has found new endorsement wins, including collaborations with Chinese online retailer AliExpress and SharkNinja, known for air fryers and home appliances.
Beckham, now 49, transferred majority control of DRJB to the US-based Authentic Brands Group last year, in exchange for $269 million in shares and cash. Though ABG acquired a 55 per cent stake in DRJB, Beckham retains a 45 per cent holding and benefits from the ongoing growth of his name and image rights. ABG itself owns licensing rights for a suite of global icons, including the basketball star Shaquille O’Neal and golf’s Greg Norman, plus the intellectual property of Marilyn Monroe and Muhammad Ali.
Despite the windfall from his brand business, Beckham’s wife Victoria has contended with more modest financial fortunes through her own fashion and beauty ventures, which recorded losses in 2023. Nevertheless, the couple’s total wealth stands at an estimated £455 million, thanks in part to David’s continuing success off the pitch. Alongside a stake in Major League Soccer’s Inter Miami—secured as part of his playing contract with LA Galaxy—Beckham’s social media following now tops 163 million across Instagram, Facebook, and major Chinese platforms.
While critics have occasionally warned of overexposure, DRJB’s filings suggest the Beckham brand’s popularity remains robust. Administrative costs at the firm have been significantly reduced under ABG’s stewardship, enabling it to fund large shareholder payouts and strengthen its push into new product categories.
Read more:
David Beckham lands $36m payday as Netflix documentary boosts brand empire

Debbie Crosbie, chief executive of the Nationwide Building Society, has cautioned that women who regularly work from home could miss out on promotion opportunities due to lower in-person visibility.
Speaking on BBC Radio 4’s Today programme, Crosbie said that more women than men had opted for flexible working in the post-pandemic era—often because of childcare responsibilities—and that this reduced office presence could impede professional growth.
Crosbie explained that “development-watching”—the chance to observe and learn from senior leaders up-close—was integral to her own rise through the ranks. “Men are more likely to come into the office than women, and we need to be really careful that we don’t prevent women from accessing that vital learning,” she said. Nationwide introduced a “work from anywhere” policy for non-branch staff during the pandemic but has since tightened the requirement to at least two days a week in the office.
Recollecting her early career under Lynne Peacock at Clydesdale Bank, Crosbie noted how seeing an “inspiring female chief executive” tackle challenges helped her develop. She also credited her decision to have a child at 32 for granting her flexibility at pivotal moments in her career. “Many women are now having children later—in their late 30s—precisely when they’re often in line for more senior posts,” she added.
Recent data from the Office for National Statistics shows that 28% of the UK workforce is now hybrid-working (splitting their time between home and the workplace), and 13% remain fully remote. Among working parents, that figure rises to 35%, with more fathers than mothers favouring a hybrid pattern. Meanwhile, 44% of UK workers still commute to the same workplace five days a week.
Read more:
Women who work from home risk career setbacks, warns Nationwide CEO