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Wednesday newspaper round-up: THG, Twitter, European aviation
(Sharecast News) - The troubled online beauty retailer THG faces more pain after a leading credit insurer reduced cover to its suppliers. The Guardian can reveal that Allianz Trade, one of the UK's largest credit insurers, cut back cover for suppliers to the beauty-to-nutrition retailer, formerly known as the Hut Group, in recent weeks. - Guardian As the cost of living crisis continues to ravage people's incomes, it has emerged that almost 2m households have defaulted on at least one significant bill in the run-up to Christmas. According to the latest findings from Which?'s consumer insight tracker, an estimated 1.9m households failed to make at least one mortgage, rent, loan, credit card or other bill payment over the last month. - Guardian
Mick Lynch has held secret talks with Network Rail bosses amid hopes that he will sue for peace in the New Year as public support for train strikes crumbles. The RMT trade union general secretary and his deputy Eddie Dempsey met Network Rail's representatives in a hastily-arranged meeting on Tuesday morning, The Telegraph can disclose. - Telegraph
Elon Musk has said he will quit as chief executive of Twitter as soon as he has found "someone foolish enough" to take over. The Tesla billionaire was "actively searching" for a new Twitter boss on Tuesday, CNBC reported, despite having made comments that cast doubt over whether he was prepared to step down. - Telegraph
The government has ordered the sale of a regional broadband provider owned by LetterOne, the oligarch-backed investment company, over national security concerns. LetterOne agreed to finance Upp last year as part of a £1 billion investment plan to provide a regional full-fibre broadband network for a million premises in eastern England by 2025. - The Times
The European aviation industry has formally confirmed what many airlines and airports have been privately warning for months: air travel will not recover to pre-pandemic levels until 2025. ACI Europe, the European division of the Airports Council International professional body, has downgraded its forecasts for 2023 stating that it thinks 220 million fewer passengers will fly around the Continent than in 2019, a shortfall of 9 per cent. - The Times
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