I beg your pardon? Run that past me again. As part of the big shakeup announced last week, the BBC is cutting its global business and economics coverage and moving the World Service business team to Salford. The strategy casts doubt over the future of Radio 4’s flagship Today programme’s (excellent) dedicated business presenter.
How anyone at the Beeb can have lived through the last year — furlough, livelihoods in suspended animation, a socking great recession, record government debt issuance, astonishing pharmaceutical breakthroughs, supply chain disruption and trade wars — and thought, you know what, we should scale back our business and economics journalism, frankly beggars belief.
That’s a business journalist at The Telegraph.
OK, so, business journalism at The Telegraph benefits from this. A competitor is leaving the market and thus those who desire business journalism will buy more from The Telegraph. Prices and incomes can rise!
On the other hand, for a specific business journalist – and yes, moving between the BBC and this sort of opinionating function on a business news section at a major paper is common enough – this is a reduction in the number of people vying for his services. Incomes will fall in the absence of the competition.
So, which side of the lessening of competition does our business journalist come down upon?
Ah, yes, self interest does so often win out over the collective one, doesn’t it?