LSN : News : IRS targets millionaires and businesses tax evaders with AI

Olive oil is the not-so-secret ingredient in the Dry Guys Martini

Aura Bora and Graza, UK

US – Olive oil and sparkling water are the unlikely ingredient pairing introduced in the collaboration between Aura Bora and Graza. Meet Dry Guys, an alcohol-free Martini spiked with a lashing of extra virgin olive oil.

Graza, the olive oil brand known for its squeezable and social media-ready EVOO bottles, has joined forces with flavoured sparkling water brand Aura Bora to imagine a cocktail promising novel taste and refreshment without the buzz. The result is a ready-to-drink single-serve olive oil Martini. Launched on 19 September, the blend combines Aura Bora’s sparkling water with Graza’s EVOO, enhanced with notes of yuzu and juniper.

Dry Guys is an example of smart co-branding, using the popularity of Graza and introducing the cocktail to the olive oil producer’s vast food and health-conscious following. In addition, the launch of the dry Martini comes as interest in low- and no-alcohol beverages is peaking, paving the way for further exploration of olive oil flavours in non-alcoholic mixology.

Strategic opportunity

Take note of the emergence of olive oil as a beverage enhancer. From olive oil versions of bulletproof coffee to the Dry Guys Martini, there is evidence of growing market opportunities

Yell is releasing a fragrance that smells like the Yellow Pages

UK – Almost five years after the last issue of the Yellow Pages was sent to print, Yell is creating an Eau de Yellow Pages perfume.

With top notes of bergamot and a hint of lemon, followed by cedar, musk and notes of sweet vanilla, the fragrance is intended to evoke memories of leafing through the heavy business catalogue. A limited run of the perfume is set to be released later this year.

‘The books are no longer a mainstay of our lives, but the Yellow Pages had an unmistakable smell that still conjures up cherished memories,’ Yell’s head of public relations, Sarah O’Rafferty, told Metro.

Yell has also recently collaborated with Selfridges on a limited three-month run of the Yellow Pages Directory of Now. Available online and in Selfridges stores, the 72-page publication has been reworked into a guide to the current cultural zeitgeist, while retaining the famed Yellow Pages aesthetic.

The current speed of the trend cycle has shortened perceptions of what is ‘vintage’ or ‘nostalgic’ drastically, leading to many fashion brands building archives. By embracing this archival model and reworking previous concepts to continue the brand’s legacy, Yell becomes a perfect example of a resilient Elastic Brand.

Selfridges and Yell, UK

Strategic opportunity

Tap into the nostalgia market and design campaigns that celebrate your brand’s history and legacy to foster proactive engagement in anticipation of new projects

IRS targets millionaires and businesses tax evaders with AI

Crypto Manifold by Marija Bozinovska Jones

US – The US Internal Revenue Service (IRS) has announced a new internal AI tool to pursue some 1,600 millionaires and 75 large business partnerships with substantial outstanding tax debts, starting in October 2023. These entities collectively owe hundreds of millions of dollars in unpaid taxes. The agency’s new-found ability to target tax dodgers is due to increased federal funding and available advanced artificial intelligence.

‘We are taking action to hold wealthy individuals and large partnerships accountable for their tax obligations,’ IRS Commissioner Daniel Werfel told The Associated Press. The effort is aimed explicitly at 1,600 millionaires who owe at least £205,000 ($250,000, €236,300) each in back taxes and 75 large business partnerships with an average asset value of £8.2bn ($10bn, €9.4bn).

The IRS has embarked on a massive hiring initiative and deployed AI research tools, enabling it to identify patterns and trends that were previously undetectable. A team of academic economists and IRS researchers in 2021 revealed that the top 1% of US income earners failed to report over 20% of their earnings to the IRS.

As explored in our AI Optimism market, the technology can become a force for good, even when hunting down the faces of Uneasy Affluence avoiding taxes.

Strategic opportunity

Consider investing in advanced data analytics tools powered by AI to uncover patterns and trends within your financial data. Identifying hidden revenue streams and detecting irregularities such as late payments can optimise financial management

Stat: Nearly all Europeans are highly exposed to hazardous air pollution

SPACE10, RNDR, Lenschow & Pihlmann and Tableau visualise how climate stressors are affecting our shared home, the planet, Copenhagen

Europe – An investigation by The Guardian has warned of alarming levels of air pollution across Europe in what it calls a severe public health crisis as nearly all Europeans are now exposed to hazardous fine particles.

Together with pollution experts, The Guardian created an interactive map showing how healthy air is across Europe. How is air quality defined? Data including satellite images and measurements from ground monitoring stations indicate levels of PM2.5, microscopic airborne particles produced by fossil fuel combustion that can enter the blood stream via the lungs. The findings are worrying – only 2% of the population of Europe are living in areas where PM2.5 concentrations is below the limit recommended by the World Health Organization (WHO).

The study reveals that air quality is significantly lower in Eastern Europe, and the worst hit country is North Macedonia where almost two-thirds of people live in areas with more than four times the WHO guidelines for PM2.5 levels.

Discover innovations moving the dial in the fight against air pollution in our Sustainability series.

Strategic opportunity

Pollution protection is a market ripe for opportunity and innovation, from adding protective features to clothing and accessories to creating solutions to monitor and enhance air quality