Business

Donald Trump’s two Scottish golf courses have posted another year of financial losses despite a strong rise in turnover, as the former US president’s business empire continues to invest heavily in luxury tourism and golf.

Accounts filed for 2024 show that Trump Turnberry, in Ayrshire, increased its revenue by 15 per cent to £24.2 million, driven by higher visitor numbers, luxury travel groups and stronger performance in its high-end golf offering, where green fees can exceed £1,000 a round.

Operating profit at the historic resort more than doubled to £2.3 million, but a £2.9 million depreciation charge pushed the business into a pre-tax loss of £631,779 — an improvement on the £1.7 million loss recorded the previous year, when depreciation costs were slightly lower at £2.8 million.

At Trump International Golf Links in Aberdeenshire, turnover rose by 22 per cent to £4.5 million, narrowing losses to £937,693 compared with £1.4 million in 2023. The improvement was attributed to increased visitor numbers and international attention following tournaments such as the PGA Seniors Championship, hosted at the site in August 2024.

In a statement accompanying the accounts, Eric Trump, the former president’s son and executive vice-president of the Trump Organization, said both properties were now seeing the benefits of sustained investment and renewed interest from overseas tourists.

He said: “The revenue increase was driven by luxury travel groups and leisure visitors to Turnberry, while the golf business outperformed expectations. Ownership remains steadfastly committed to their vision for the properties and confidently foresees a positive fiscal improvement as the investment activities flow through in the medium and longer term.”

The Turnberry resort, which employs more than 440 staff, has undergone significant refurbishment since its purchase by Trump in 2014 from the Dubai-based group Leisurecorp in a deal reportedly worth around $60 million. The course, redesigned by Martin Ebert, last hosted The Open Championship in 2009, when Stewart Cink defeated Tom Watson in a playoff. The R&A has since declined to return the major tournament to the course, citing logistical challenges and, in recent years, political sensitivities surrounding the Trump brand.

Nevertheless, the organisation said earlier this year it was conducting new feasibility work on Turnberry’s future as a championship venue, suggesting it may not be permanently off the rota.

In Aberdeenshire, where the first Trump course opened in 2012 after a lengthy and contentious planning battle over environmental concerns, the Trump Organization remains focused on expansion. Trump himself visited the site in July 2024 to open a second course, designed by renowned architect Martin Hawtree, as part of an effort to turn the coastal estate into a global golf destination.

Sarah Malone, executive vice-president of Trump International Scotland, said both properties “saw substantial revenue growth across all income streams in 2024 and attained their highest ever annual turnovers.”

“Both businesses have also benefited from major capital investments to further expand and enhance their world-ranked golf courses and leisure facilities,” she added.

Neither business declared a dividend for the year. Trump International employs more than 100 staff, with both properties continuing to be backed by the Trump Organization’s broader investment strategy in European hospitality and golf assets.

Read more:
Donald Trump’s Scottish golf resorts still loss making despite rising revenues

Revolut’s remarkable rise from a London startup to one of the world’s largest digital financial platforms has transformed the banking landscape. But its long wait for a UK banking license reveals a fundamental tension at the heart of modern finance — the widening gap between technological innovation and regulatory adaptation.

With more than 65 million users across 38 markets, Revolut has redefined what consumers expect from financial services. Its all-in-one app offers instant international transfers, competitive foreign exchange, budgeting tools, crypto and stock trading, and seamless digital payments. To many, it feels less like a bank and more like an operating system for modern money management.

Yet despite its global reach, Revolut still lacks the ultimate endorsement of regulatory trust: a full UK banking license. The delay — now stretching over three years — underscores how regulators are struggling to evaluate institutions that operate at digital speed and global scale.

The Prudential Regulation Authority (PRA), part of the Bank of England, is understood to have hesitated over approving Revolut’s application due to concerns about governance and risk management — particularly how its internal controls can keep pace with rapid international growth.

According to GlobalData, this hesitation reflects a deeper systemic issue rather than a case of bureaucratic obstruction.

“Unlike traditional banks, which grew incrementally over decades with local branches and sequential market entry, Revolut has scaled 5,000% in a few years, operating simultaneously across dozens of countries,” says Joanne Kumire, Lead Analyst for Banking and Payments at GlobalData. “This is hard mode for regulators. The PRA’s frameworks were never built for a bank operating at this speed and scale.”

That unprecedented growth brings equally unprecedented complexity. Each market Revolut operates in has its own financial, data-protection, and anti-money-laundering regimes. Coordinating compliance across them in real time requires automation and predictive monitoring — far removed from the manual oversight that traditional banks rely on.

A full UK license would allow Revolut to take deposits, issue loans, and offer products under the protection of the Financial Services Compensation Scheme (FSCS). It would also place the company under the PRA’s strictest prudential requirements, enabling it to compete head-on with high-street incumbents.

In effect, the license would mark Revolut’s transition from a fintech disruptor to a fully-regulated British bank — a symbolic win for both the company and the UK’s post-Brexit fintech ambitions.

But as Kumire points out, the question isn’t simply whether Revolut is ready for the PRA — it’s whether the PRA’s frameworks are ready for Revolut.

“Traditional risk management assumes physical infrastructure, local compliance officers, and predictable transaction flows. Revolut’s compliance is digital-first — API-driven, real-time, and distributed across jurisdictions,” she explains. “Both aim for financial stability, but they achieve it through fundamentally different means.”

That distinction raises a critical issue for policymakers worldwide: how to assess risk when the very nature of banking is changing.

Legacy regulatory models measure capital adequacy, liquidity, and operational resilience in periodic reports — quarterly, annually, or in stress-testing cycles. But digital banks function on continuous data, updating risk models by the second. A regulatory model designed for balance sheets, not algorithms, is inherently out of sync.

Experts argue that regulators must begin to measure systemic risk, technology resilience, and cyber-governance with the same weight once given to loan-to-deposit ratios. For fast-scaling neobanks like Revolut, this would allow faster approval without compromising safety — a new equilibrium between innovation and prudence.

The outcome of Revolut’s license bid carries significance well beyond its own operations. The UK’s decision will help define how advanced economies balance innovation with accountability in the era of borderless finance.

If the PRA holds the line, it may reassure traditionalists but risk signalling to the world that Britain’s regulatory culture still favours caution over competitiveness. If it adapts too readily, critics warn, it could invite systemic vulnerabilities.

Kumire sums it up bluntly: “The stakes are high. While delay risks eroding Revolut’s market position, the PRA must also ensure that the UK doesn’t become the site of a systemic failure. Revolut isn’t a startup testing the waters — it’s a global institution asking the UK to catch up.”

“How the PRA responds could define not only Revolut’s trajectory but the future of digital banking regulation itself.”

Revolut’s story is emblematic of a sector approaching maturity — where innovation collides with the boundaries of old financial law. The company’s struggles reflect neither failure nor fault, but rather the growing pains of an industry moving faster than its referees.

Whether the UK ultimately grants Revolut its license, the conversation it has provoked will shape how nations regulate the next generation of banks — entities built in code, operating across borders, and judged by frameworks still written for paper.

Read more:
Revolut’s UK banking license delay highlights growing rift between innovation and regulation

Be.EV, one of Britain’s fastest-growing ultra-rapid electric-vehicle charging networks, has announced a major price cut that halves the cost of fast charging and sets a new benchmark for affordability in the public-charging sector.

The company’s new 39p per kilowatt-hour (kWh) tariff makes Be.EV one of the first charge-point operators to offer public ultra-rapid charging cheaper than refuelling with petrol or diesel.

With around 40% of UK households lacking off-street parking, millions of drivers depend on public chargers and face higher costs — compounded by a 20% VAT rate compared with the 5% levied on domestic electricity. Be.EV says its new tariff is designed to end this “inequality” and make EV ownership accessible for everyone, not just homeowners with private driveways.

“For too long, EV charging in the UK has been built for the privileged few with a driveway,” said Asif Ghafoor, Be.EV’s chief executive. “Those who rely on public charging — people in flats, terraced housing or busy city centres — pay much more than those who can plug in at home. That’s not just unfair, it’s a barrier to mass adoption.”

“Our new 39p/kWh price point proves ultra-rapid charging can be cheaper than filling a petrol tank. It tears down one of the last excuses not to go electric. Drivers deserve a network that’s fast, fair and future-proof — and we’re determined to deliver it.”

The lower price can be accessed in two ways. Subscribers to Be.EV’s Mega Plan (£9.99 per month) will benefit from the 39p/kWh rate at all times, while those on the Mini Plan (£4.99 per month) can charge at 49p/kWh. Both are flexible, cancellable monthly plans available exclusively through the Be.EV app.

Alternatively, all drivers — even without a subscription — can take advantage of the 39p/kWh rate during off-peak hours (7pm to 7am) using the Be.EV app or RFID card.

At 39p per kWh, charging an electric vehicle with Be.EV works out at roughly 12p per mile, almost half the current average cost of 23p per mile for rapid or ultra-rapid public charging. The comparison is based on a typical pay-as-you-go rate of 76p/kWh and an average EV efficiency of 3.3 miles per kWh.

Be.EV’s price cut means public ultra-rapid charging can now be cheaper than running a petrol or diesel car, a milestone the company hopes will accelerate mass EV adoption ahead of the UK’s 2035 zero-emission vehicle deadline.

Be.EV’s announcement comes as the cost of charging remains a flashpoint in the UK’s transition to electric mobility. While at-home charging typically costs between 15p and 30p per kWh, public ultra-rapid chargers have surged in price since 2022, leaving many city dwellers at a disadvantage.

The new Be.EV model directly targets that gap. By offering off-peak and subscription-based discounts, the network aims to make ultra-rapid charging both affordable and predictable, encouraging drivers to plan charging sessions during lower-demand hours.

Be.EV currently operates more than 850 charge points nationwide, with 1,000 additional sites in development across motorways, city centres and community hubs. The company says its goal is to build a “truly democratic” charging network that brings reliable, high-speed access to every corner of the UK.

“Public charging shouldn’t be a postcode lottery,” Ghafoor added. “With our expansion, drivers everywhere — from Manchester to Milton Keynes — will have the freedom to charge on their own terms, one charge at a time.”

Industry analysts say Be.EV’s move could pressure other charge-point operators to revise their tariffs, particularly as public concern grows over pricing disparities between home and on-the-road charging.

The initiative also reignites debate over VAT reform for public charging — an issue campaigners argue is holding back adoption among urban and lower-income drivers. Be.EV’s model, by cutting prices without government intervention, may strengthen calls for a level fiscal playing field.

According to the Society of Motor Manufacturers and Traders (SMMT), there are now over 1.3 million electric vehicles on UK roads, a figure expected to double by 2028. Ensuring affordable public charging is viewed as critical to sustaining that growth.

Be.EV’s 39p tariff places it among the most competitively priced operators in the UK and represents a bold challenge to incumbents. For drivers, it means immediate savings from the very first charge.

For policymakers, it highlights a growing divide between infrastructure providers willing to absorb margin pressure to drive adoption and those maintaining premium rates.

Either way, Be.EV’s strategy signals a pivotal moment in the evolution of Britain’s public-charging landscape — one where accessibility, fairness and affordability are fast becoming as important as speed and reliability.

Read more:
Be.EV halves cost of ultra-rapid charging with 39p/kWh tariff

Andy Haldane, the former chief economist at the Bank of England, has been appointed the next president of the British Chambers of Commerce (BCC), succeeding Baroness Martha Lane-Fox when her three-year term ends in February.

Haldane, one of Britain’s most influential economic thinkers, served on the Bank’s Monetary Policy Committee (MPC) for more than six years. Known for his unconventional and forward-looking analysis, he famously warned of the “tiger” of inflation in the aftermath of the pandemic — a caution that proved prescient when prices later surged and central banks scrambled to tighten policy.

Since leaving the Bank, Haldane has remained a key voice in economic policy. He was appointed to Chancellor Jeremy Hunt’s Economic Advisory Council in 2022, a group formed in the wake of the Liz Truss mini-budget to help rebuild confidence in Britain’s fiscal management. He also leads the Royal Society of Arts (RSA), where he has focused on regional inequality, productivity, and the future of work.

His new role at the BCC places him at the heart of the UK’s business community at a critical moment. Companies are grappling with slowing growth, geopolitical uncertainty, and the prospect of higher taxes ahead of the government’s November budget. Many sectors are also facing labour shortages, fragile consumer demand, and tighter financing conditions, as interest rates remain elevated.

Haldane said his appointment came at a pivotal time for British enterprise: “The Chambers have been celebrating and supporting the brilliance of British business for many decades,” he said. “Yet their role has never been more important than it is today.”

The BCC, which represents tens of thousands of firms through its nationwide network of local chambers, has increasingly positioned itself as a pragmatic voice for business in Westminster.

Haldane’s arrival is expected to strengthen the organisation’s economic credibility and deepen its engagement with policymakers — particularly on productivity, regional growth and industrial strategy.

Read more:
Ex-Bank economist Andy Haldane to lead British Chambers of Commerce

Thousands of UK businesses are being urged to come forward after a £2 billion collective legal action was launched against Microsoft, alleging that the tech giant overcharged customers who used its Windows Server software on rival cloud platforms such as Amazon Web Services (AWS), Google Cloud, and Alibaba Cloud.

The case, filed in the UK’s Competition Appeal Tribunal (CAT), has been brought by Dr Maria Luisa Stasi, a leading specialist in digital markets regulation. It seeks damages for businesses that, she says, have been forced to pay inflated prices due to Microsoft’s restrictive licensing practices.

“If your organisation has used Windows Server on Google, Amazon or Alibaba’s cloud platforms at any point since December 2018, you have likely paid too much money,” Dr Stasi said. “This legal action seeks to put that to an end.”

“Those responsible for IT or cloud contracting should get in touch. Billions have been drained from business budgets as a result of Microsoft’s licensing practices.”

Dr Stasi’s claim could become one of the largest antitrust lawsuits ever filed in the UK technology sector, potentially covering tens of thousands of organisations, from start-ups to multinationals.

The lawsuit closely follows the Competition and Markets Authority’s (CMA) final report on the UK’s cloud computing market, which concluded that Microsoft’s software licensing practices “adversely impact competition”.

The CMA found that Microsoft’s pricing model makes it more expensive for customers to run its software on rival clouds than on its own Azure service, effectively penalising businesses for using competitors’ infrastructure.

Those findings align directly with Dr Stasi’s case, which will return to court on 11 December 2025 for a hearing to decide whether it can proceed to full trial.

Legal experts say the case could set a precedent for collective actions against dominant technology firms accused of abusing market power in software and cloud services.

Cloud costs soar for UK businesses

The legal action comes amid mounting pressure on businesses struggling with escalating cloud costs.

Recent research shows that 67% of UK IT leaders expect their cloud expenses to rise further over the next year, with 68% of firms already cutting back in other IT areas to compensate.

Smaller organisations have been hit particularly hard. Many lack the resources to navigate complex licensing models or negotiate bespoke cloud contracts, leaving them vulnerable to hidden cost differentials.

“Cloud costs are soaring for UK businesses,” Dr Stasi said. “Getting in touch does not commit you to anything, but could result in your business clawing back a meaningful portion of its IT budget.”

The case against Microsoft is part of a wider wave of scrutiny directed at Big Tech’s control of the global cloud market.

Regulators across Europe, the US and Asia have intensified investigations into whether large technology firms are using software dominance to reinforce control over infrastructure markets.

In May 2025, the European Commission also signalled concern about “loyalty-inducing pricing” in cloud software licensing, echoing the CMA’s conclusions.

Microsoft has repeatedly defended its practices, saying its licensing models are “pro-competitive” and designed to “give customers choice and flexibility.”

If the CAT certifies Dr Stasi’s claim as a collective proceeding, affected organisations could automatically be included unless they opt out.

What happens next

A procedural hearing is scheduled for December 2025, after which the Tribunal will decide whether the case proceeds to trial. If successful, compensation could be distributed across all qualifying UK businesses that used Windows Server on rival clouds after December 2018.

Legal analysts say the potential £2 billion claim underscores the growing use of class-action-style competition litigation in the UK following Brexit, which allows domestic courts to take on global technology disputes previously handled in Brussels.

For now, businesses are being advised to register interest or provide usage data — a process that carries no obligation to join the claim but may determine eligibility for compensation later.

Read more:
£2bn UK lawsuit accuses Microsoft of overcharging cloud customers

Today marks the High Court deadline for PPE Medpro to repay £121.9 million to the UK government over a defective PPE contract awarded during the Covid-19 pandemic — but with the company now in administration and holding assets of just £666,000, there is little expectation the Department of Health and Social Care (DHSC) will see the full amount returned.

The repayment order follows a High Court ruling earlier this month in which Mrs Justice Cockerill found that PPE Medpro had breached its contract to supply 25 million sterile surgical gowns. The gowns, while delivered in full, were deemed non-compliant after failing to meet sterilisation standards.

The court set a deadline of 4pm today (15 October 2025) for repayment. With the clock ticking, no indication has been given that the full sum will be paid, and insiders suggest the government could face the prospect of recovering substantially less — or potentially nothing at all.

Last week, Business Matters reported that the consortium behind PPE Medpro had approached the company’s administrators to express a willingness to enter settlement talks with the DHSC.

“The consortium partners of PPE Medpro are prepared to enter into a dialogue with the administrators of the company to discuss a possible settlement with the government,” said a spokesperson for Doug Barrowman, the businessman who has described himself as the ultimate beneficial owner of PPE Medpro.

We understand that the consortium met last week and formally contacted the administrators to facilitate negotiations. However, no specific settlement offer has been made public.

In June, PPE Medpro offered £23 million in a no-fault settlement. The DHSC rejected that offer, a move that has since drawn criticism given the company’s deteriorating financial position and the legal costs already incurred.

While Doug Barrowman and Baroness Michelle Mone are not personally liable for the money, Barrowman has acknowledged that £29 million in profit from the gown contract was placed into a trust benefitting his family — including Mone and her children.

However, PPE Medpro’s formal structure kept both figures at arms-length from the company’s directorship. The firm filed for insolvency just a day before the High Court ruling, meaning responsibility for recovering any assets now lies with court-appointed administrators, Forvis Mazars.

Insolvency experts say the administrators may consider pursuing other companies or individuals involved in the gown supply chain. Barrowman’s team has named two UK-registered companies as consortium partners — one has denied any connection, and two others have not responded to media enquiries.

In a comment to Sky News, Julie Palmer, partner at insolvency specialists Begbies Traynor, said: “The administrators will want to look at what happened to what look like significant profits made on these contracts… They may also want to consider whether there is a claim for wrongful trading… and claims may rest against shadow directors.”

In other words, if individuals were directing the company’s affairs behind the scenes — including potentially Baroness Mone or Barrowman — legal avenues could still be explored, albeit at significant time and cost.

DHSC under pressure over double standards

The DHSC has so far declined to comment. But criticism continues to mount over its handling of the PPE Medpro case — particularly when compared to the department’s quiet £5 million no-fault settlement with Primerdesign Ltd over a £135 million claim (more than the PPE Medpro case).

Despite multiple no-fault offers from PPE Medpro — including a full remake of the gown order — the government chose to pursue a full legal challenge, spending an estimated £5 million in public funds on litigation.

As Business Matters has reported extensively, the gowns — although rejected for failing to meet sterilisation criteria — were never suitable for NHS frontline use due to being single-bagged, a feature the DHSC failed to specify across its gown contracts. PPE Medpro maintains the gowns could have been resold internationally as non-sterile PPE, with an estimated market value of £85 million at the end of 2020.

With the repayment deadline now reached and PPE Medpro in administration, all eyes turn to the administrators, who face the unenviable task of tracing and recovering funds from a highly politicised and legally complex case.

Whether the government eventually sees a fraction of the £122 million — or whether this becomes yet another expensive Covid-era procurement write-off — remains to be seen.

Read more:
Deadline day looms for PPE Medpro as £122m Covid repayment unlikely to be made

Chancellor Rachel Reeves has confirmed for the first time that tax rises and spending cuts are both being considered for next month’s Budget, acknowledging the scale of the fiscal black hole confronting her new government.

Speaking to Sky News in her first interview since receiving the Office for Budget Responsibility’s (OBR) draft report, Reeves said: “Of course, we’re looking at tax and spending as well. The numbers will always add up with me as chancellor.”

Her comments mark a shift in tone from earlier interviews where she avoided any direct mention of tax rises, insisting instead that “growth” would remain the government’s focus.

The OBR report — presented to Reeves on 3 October — revealed a £30 billion shortfall in the public finances, largely the result of a productivity downgrade, policy reversals on welfare reforms, and the scrapping of planned cuts to winter fuel payments.

“I won’t duck those challenges”

Reeves said she would not relax her fiscal rules, which require that by 2029-30 the government’s day-to-day spending is funded entirely by tax receipts, not borrowing. That commitment makes new tax rises almost unavoidable.

“I was really clear during the general election campaign that I would always make sure the numbers add up,” Reeves said. “Challenges are being thrown our way — geopolitical uncertainty, trade barriers, and now the OBR’s productivity review. But I won’t duck those challenges.”

Asked whether she could promise to avoid a “doom loop” of annual tax hikes to fill recurring fiscal gaps, Reeves stopped short of giving an outright assurance.

“Nobody wants that cycle to end more than I do,” she said. “That’s why I’m focused on growing the economy.”

Pressed further, she rejected the “doom loop” label, noting that Britain was the fastest-growing G7 economy in the first half of 2025.

The International Monetary Fund (IMF) this week slightly upgraded the UK’s growth forecast for 2025 to 1.3%, but trimmed its outlook for 2026 by the same margin, leaving medium-term growth prospects 0.4 percentage points weaker than the Fund’s projections last autumn.

Reeves said the combination of sluggish productivity, geopolitical instability and post-Brexit trade frictions had deepened the challenge of restoring stability to the public finances.

“We saw just three years ago what happens when a government loses control of the public finances — inflation and interest rates went through the roof,” she said.

Her remarks referenced the 2022 Liz Truss mini-budget, which triggered a market crisis and left a lasting political scar.

The chancellor also attributed much of Britain’s fiscal strain to Brexit, austerity, and the mini-budget fallout, warning that each had taken a structural toll on growth.

“Austerity, Brexit, and the ongoing impact of Liz Truss’s mini-budget have all weighed heavily on the economy,” Reeves said. “People already thought the UK economy would be around 4% smaller because of Brexit. There’s no doubt the impact has been severe and long-lasting.”

Reeves argued that the government’s new EU cooperation deal, covering food, energy, and youth mobility, had begun to “undo some of that damage”.

The remarks risk alienating some Leave-voting Labour supporters — around one in five of whom backed the party at July’s general election — but underline Reeves’s commitment to fiscal honesty, a theme she has made central to her leadership of the Treasury.

The interview came hours before Reeves flew to Washington, D.C., to attend the annual IMF and World Bank meetings, where she will meet global finance ministers to discuss economic coordination amid rising trade tensions and energy volatility.

Officials say the chancellor’s immediate focus remains on finalising the 26 November Budget, which is expected to combine targeted tax rises, selective departmental cuts, and investment incentives aimed at boosting productivity.

Read more:
Reeves confirms tax rises and spending cuts on the table as budget black hole deepens

More than 6 billion people are now online, and social media has officially become a “supermajority” medium, according to the new Digital 2026 report from Meltwater and We Are Social.

The annual global study — now spanning more than 700 pages — shows how deeply the internet and social media are embedded in modern life, from how people discover brands to how they spend leisure time.

Globally, 5.66 billion social media user identities are now active — the equivalent of 68.7% of the world’s population, or two social media users for every non-user. In the past year alone, platforms have added 259 million new users, a 4.8% annual increase.

“We’re seeing a profound shift in how people discover brands,” said Alexandra Bjertnæs, Chief Strategy Officer at Meltwater. “More people are turning to social media and AI platforms than ever before. Among younger audiences, social media ads now carry more weight than traditional search in shaping awareness and perception.”

As growth plateaus in mature markets, the fight for user attention is getting fiercer. The average internet user now spends 2.5 hours per day on social and video platforms — with “filling spare time” ranking as the second-biggest reason for logging on, after keeping in touch with friends and family.

YouTube remains the world’s largest platform by active users, boasting nearly 50% more app users than fifth-placed TikTok, according to Similarweb data. Yet when it comes to engagement, TikTok dominates: the typical user spends 1 hour 37 minutes per day on its Android app — more than any other platform.

Women aged 16–24 spend the most time online overall, averaging 3 hours 40 minutes daily on social and video platforms.

The average user now engages with 6.75 different platforms each month, underlining how fragmented attention and media habits have become.

Social media overtakes search for brand discovery

The report highlights a generational shift in how consumers find new products and services.

Among 16–34-year-olds, social media ads are now the number one source of brand discovery:
• 34.2% of those aged 16–24
• 32.1% of those aged 25–34

For 35–44-year-olds, social ads rank a strong second, just behind search engines — signalling a growing divide between digital-native and older audiences.

Toby Southgate, Global Group CEO of We Are Social, said: “We’ve moved from a race for reach to a battle for relevance. With nearly seven in ten people on social media, this is where brands win or lose. Success will depend on deep cultural understanding and ideas that earn attention.”

Generative AI crosses the billion-user threshold

For the first time, over one billion people now use generative AI tools each month. OpenAI’s CEO reported that ChatGPT alone had 800 million weekly users as of October 2025, illustrating the technology’s rapid mainstream adoption.

This surge is reshaping search behaviour, with only 80% of online adults now using conventional search engines each month — down several points year on year. Meanwhile, half of global internet users say they are excited about the potential of AI, according to Digital 2026.

Digital ad spend hits record highs

Marketers are set to spend a record US$1.16 trillion on advertising in 2025, with digital channels accounting for 74.4% of total spend.

Social media advertising continues to outperform, projected to rise 13.6% year-on-year to US$277 billion. Meanwhile, online retail media has emerged as a powerhouse, with brands expected to pour US$204 billion into retail ad networks this year alone.

Streaming services also now account for more than half (50.4%) of all global TV viewing time, reflecting how entertainment, advertising, and e-commerce are converging in the digital ecosystem.

With 5.78 billion mobile users (70.1% of the global population) and social platforms reaching near-saturation, Digital 2026 paints a picture of a world where online behaviour is universal — but fragmented, fast-changing, and increasingly powered by AI.

For marketers, the takeaway is clear: winning attention in 2026 will require intelligence, creativity, and cultural fluency across platforms that never stop evolving.

“The game keeps changing,” said Southgate. “A ‘supermajority’ of the world is now active online — and every brand must learn to play by new rules.”

Read more:
Digital 2026: internet users pass 6 Billion as AI and social media reach new milestones

Sophia Rosing’s story is one built on resilience, discipline, and community spirit. Growing up as the youngest in a large family, she learned quickly how to adapt, share, and stand strong.

From soccer fields to cheerleading practice, her early years were full of energy, teamwork, and lessons that carried forward into her adult life.

“My family always taught me that effort matters more than talent,” she reflects. “Discipline and consistency are what truly make a difference.”

These values shaped her commitment to giving back. Each week, Sophia volunteers at a local food bank, helping families put food on the table. “Change starts small,” she says. “Sometimes it’s as simple as making sure a child has dinner.”

Outside of volunteering, Sophia enjoys a lifestyle built around balance. Baking is her favorite way to relax—creative, hands-on, and a way to bring people together. Boating and skiing give her energy and a connection to the outdoors. Time with her dog provides comfort and companionship.

Her journey shows how small-town lessons and everyday choices can shape a purposeful life. “Big dreams don’t mean forgetting where you came from,” Sophia explains. “It’s about staying grounded while reaching higher.”

Q&A with Sophia Rosing

Can you tell us a bit about your early life and upbringing?

I grew up as the youngest in a big family. It was always lively, and I learned a lot about patience and resilience. I played soccer, did color guard, and was a cheerleader, so I was always active.

How did your family shape your values?

I watched my parents work very hard. That showed me that success isn’t just about talent; it’s also about effort and discipline. My mom’s love of teaching made me appreciate education as a way to change lives. My dad’s career in business taught me about leadership and the importance of responsibility.

What has your volunteering experience been like?

Every week, I volunteer at a food bank. It’s about helping families who cannot afford groceries. For me, it’s about building hope and making human connections. Service teaches you empathy, and empathy is vital in every part of life.

What has been one of the most meaningful moments in your volunteering?

One time, I helped a mother choose food for her family. She told me it meant she didn’t have to decide between paying rent and feeding her children that week. That stayed with me. It reminded me that small actions can have significant effects.

How do you balance commitments with personal life?

I make time for hobbies. I love baking, gardening, skiing, boating, and walking my dog on nature trails. Baking especially relaxes me. It’s creative and brings people together. My dog is also my best study partner. Balance keeps me going.

What lessons from your small-town background do you carry with you today?

It taught me that big goals don’t mean forgetting your roots. I always remind myself where I started. That gives me perspective and keeps me grounded, even when I’m aiming for more.

What advice would you give to others who want to make a difference?

Stay disciplined, and don’t be afraid to start small. Volunteering or participating in community service is a great way to develop empathy and responsibility. Every big change begins with smaller steps.

Read more:
Inside the Journey of Sophia Rosing: Student, Volunteer, Advocate

Jane Coogan is a Partner at Coogan Smith, LLP, based in Attleboro, Massachusetts. A trusted solicitor with more than 15 years of experience, she specializes in estate planning, business formation, succession planning, and probate and estate administration.

Her approach blends technical expertise with empathy, helping clients navigate complex legal and personal decisions with confidence and care.

Born and raised in Attleboro, Jane is deeply rooted in the community she serves. She attended Bishop Feehan High School before earning a Bachelor of Arts in English from the College of the Holy Cross. She went on to earn both her Juris Doctor and Master of Laws in Taxation from Villanova University School of Law. Her early career at Feingold and Edelblum, a boutique firm in New Jersey, gave her valuable experience working with high-net-worth individuals and business owners before returning home to join Coogan Smith in 2014.

Jane is also an active community leader. She serves on the boards of the Sturdy Memorial Hospital Foundation, the Attleboro YMCA, and the Friends of St. John the Evangelist School, and is a former President of the Attleboro Area Bar Association.

Outside of her practice, Jane enjoys running, skiing, and reading, and loves spending time with her two daughters and their golden retriever, Clark. She believes that empathy, balance, and integrity are the foundations of both her work and her life — qualities that continue to make her a respected leader in her field.

Q&A with Jane Coogan

How did your journey in law begin, and what drew you to the field?

I grew up in Attleboro, Massachusetts, and always had a strong interest in people and their stories. At the College of the Holy Cross, I studied English, which taught me to think critically and communicate clearly — skills that are essential in law. After university, I went to Villanova University School of Law, where I earned both my JD and my LLM in Taxation. What really drew me to law was the chance to help people make important life decisions with clarity and care.

You began your career in New Jersey before returning to Attleboro. What was that experience like?

My first role was with Feingold and Edelblum, a small firm in Hackensack. It was a boutique practice, but the work was sophisticated. I helped high-net-worth individuals and business owners with estate planning and business succession. It was a fantastic learning environment — very hands-on. I worked closely with clients and learned that success in this profession isn’t just about the law; it’s about trust and understanding.

What led you to return home to Massachusetts and join Coogan Smith, LLP?

After several years in New Jersey, I wanted to come back to my hometown. Attleboro is where my roots are, and Coogan Smith was a natural fit. The firm values long-term relationships and community service — both of which align with my personal approach to practicing law.

Your work focuses heavily on estate planning and business succession. What’s most rewarding about that area?

It’s incredibly personal work. I’m often meeting clients during transitional or emotional moments — when they’re planning for their families or thinking about the future of their business. Helping them find peace of mind is very fulfilling. You certainly need the knowledge base to give sound advice, but empathy is just as important. Listening and understanding are what build trust.

You’ve spoken before about empathy being a key quality in your career. Why do you see it as so essential?

Empathy allows you to see beyond the paperwork. Clients come to you with emotions, not just documents. You have to be able to listen and respond with understanding. That’s how you become a partner in their journey rather than just their solicitor.

You’re also a parent. How do you balance a demanding career with family life?

It’s always a challenge, but I try to be present wherever I am. When I’m at work, I give my clients my full attention. When I’m at home, I focus on my daughters. I have two girls, aged nine and seven, and they’re a constant reminder of why balance matters. I want them to see that it’s possible to have both — a career and a fulfilling family life.

What role has your family played in shaping your outlook?

A big one. My father is also an attorney, and he’s been a great influence. I still hear from people who talk about his kindness and professionalism. My mother showed me what it means to be nurturing and encouraging. Together, they taught me that success comes from doing good work and being a good person.

You’re active in several local organizations. Why is community involvement so important to you?

Community is everything. I serve on the boards of Sturdy Memorial Hospital Foundation, the Attleboro YMCA, and Friends of St. John the Evangelist School. I also served as President of the Attleboro Area Bar Association. These roles let me give back to the place that raised me. It’s not just about professional growth — it’s about making a difference close to home.

What advice would you give to young professionals starting in law?

Learn to listen before you speak. Develop your technical skills, but never forget that law is about people. The best solicitors understand their clients’ goals and fears as well as the rules that govern their case. And don’t underestimate the importance of balance — burnout doesn’t make anyone better at their job.

What keeps you motivated day to day?

Making life easier for others. Whether it’s my clients, my family, or my friends, I find purpose in helping people navigate challenges. That’s what keeps me going.

You’ve described empathy and balance as the cornerstones of your career. How do you see these shaping the future of the legal industry?

I think we’ll see a shift towards more relationship-based practice — one where solicitors focus on connection, not just contracts. Clients value empathy and communication more than ever. If we can combine professionalism with humanity, the industry will be stronger for it.

Learn more about Jane Coogan and her work at Coogan Smith, LLP in Attleboro, Massachusetts.

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Jane Coogan on Empathy and Balance in Modern Law