Friday newspaper round-up: Apple, Daily Mail, OpenAI, Homebase

(Sharecast News) - Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at $124.30bn, barely above estimates of $124.12bn. Earnings per share were $2.40, just ahead of analysts' expectations of $2.35. Shares rose more than 8% in extended trading after CEO Tim Cook indicated in an earnings call on Thursday that Apple is on the trajectory for revenue growth next quarter. - Guardian Staff at the Daily Mail and MailOnline have been told to expect job cuts by the publisher as it unveiled plans to combine its digital and print editorial and commercial teams into one seven-day operation. In a letter to colleagues on Thursday, the Daily Mail's editor-in-chief, Ted Verity, and the publisher and chief executive of parent group DMG media, Danny Groom, announced a shake-up that would "result in a number of job losses". - Guardian

The Abu Dhabi fund that was blocked from taking control of The Telegraph is pursuing a potentially less controversial tie-up with ITV's production arm as it attempts to build a global media empire. RedBird IMI has stepped up discussions to merge All3Media, the independent production house behind The Traitors, which it acquired for £1.2bn last year, with ITV Studios to create a film and TV powerhouse worth almost £3bn. - Telegraph

Plans to fly millions more passengers from London City Airport have triggered a row over noise in a sign of the challenges that Rachel Reeves faces in putting aviation at the heart of her growth plans. London City Airport has been accused of using "backdoor tactics" to get around strict noise limits after announcing plans for full-sized airliners to use its short runway. The airport said on Monday it had submitted an application to the aviation regulator seeking permission to run flights using Airbus A320 planes that can carry more than 180 passengers. - Telegraph

OpenAI is in talks for an investment round to raise nearly $40 billion that would value the ChatGPT maker at up to $340 billion. The Microsoft-backed company was last valued at $157 billion in October when it raised $6.6 billion. However, under discussions reported by the Wall Street Journal, the AI company's valuation has almost doubled. OpenAI did not respond to a request for comment. - The Times

Homebase collapsed into administration owing more than £650 million to unsecured creditors including the retailers AO World, Halfords and the Hut, it has been disclosed. A document filed with Companies House reveals the extent of the DIY and garden retailer's debts to its creditors when Teneo was appointed as administrator in November. - The Times