Apple hasn't learned from Meta's ruinous mistake

Good morning and welcome to this week's edition of Telegraph Insight.

Five stories you need to know

1. The launch of Apple's Vision Pro has prompted mixed reactions from investors. Matthew Lynn explains why Tim Cook may be about to repeat Mark Zuckerberg’s ruinous mistake.

2. Eir Nolsøe has a read on the £300bn-a-year scheme that could see taxes skyrocket – and still increase poverty. Our Senior Economics Reporter explains why universal basic income is likely to drive up income taxes and force state spending to balloon.

3. Chinese CCTV cameras that captured Matt Hancock’s affair with a senior aide are to be banned from Government buildings over national security concerns. Gareth Corfield has the latest on new public sector procurement laws.

4. Spotify will cut 200 jobs from its podcast business in its second round of redundancies this year. James Warrington reports that it comes as the streaming giant continues to reel from its expensive bets on celebrity presenters such as the Duke and Duchess of Sussex.

5. Finally, half of large companies plan to cut back on desk space in a sign that many bosses are giving up on attempts to lure staff back to the office, writes Riya Makwana. 56pc of large businesses have now permanently adopted a “hybrid” working style.

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Chart of the week 

Plans are underway to get the long-term sick back into employment as Universal Credit claims climb, with 360,000 more economically inactive people than before the pandemic.

Read more: How Britain’s broken benefits system created a ‘lost generation’ who no longer need to work

Talking point

Shell has been banned from running “greenwashed” advertisements that overstated the amount of green energy the oil giant produced. Here's what you had to say about the move by the Advertising Standards Authority to ban the adverts... 

Reazul Ashraf: “True, in terms of Shell's portfolio percentage the traditional energy sources still dominate. But in terms of investment into renewable energy, Shell invests and spends more hard cash then pretty much anyone else out there - billions worth. Therefore, the ad in the full context of what their competitors are doing, should not have been blocked."

Nigel Harvey: “Great to hear the Advertising Standards Authority using their teeth. It is cynical beyond words for Shell to flaunt their green claims when they are increasing fossil fuel production and knowingly driving the climate crisis.”

What do you think? Join the conversation here.

To help you out today

Catch up on these useful stories with practical tips to make the most of your work, home and money:

• House prices: Why Britain’s house prices will not recover until 2028
• Pensions: This is how much you need to retire comfortably
• Insurance: The heat pump trap that could invalidate your insurance
• Questor: This company is in a powerful position for capital returns
• Fraud: 8 common scams and the new bank laws helping victims get their money back

For your coffee break

To solve this PlusWord puzzle, complete the mini crossword grid and then deduce the five-letter PlusWord from letters in the shaded cells. If you need a bit of help finding the PlusWord, ask yourself this: what might a gentlewoman prefer?

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