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Sunday newspaper round-up: Rolls-Royce, Royal Mail, Discount grocers

(Sharecast News) - Rolls-Royce boss Tufan Erginbilgic has set his eyes on the market for the engines that power narrow-body jets. Up until now, the engineer had focused on engines for wide-body jets, like those that keep the Airbus 350 or Boeing 777 in the air. But increased fuel efficiency means that the former are now increasing their range, turning them into a major and growing market that Erginbilgic wants a slice of. In remarks to the Sunday Times, he said that he is now on the look out for a partner to develop narrow-body jet engines. - The Sunday Times Royal Mail is facing a lawsuit for classifying delivery drivers as self-employed. That allows the company to avoid sick pay and minimum wages. Indeed, according to its drivers, Parcelforce - the business's parcel delivery arm - can make them liable for hundreds of pounds in fines if they call in sick. And yet, the drivers cannot decided on which days the work, their hours or the routes taken. - The Guardian

The bosses of Aldi and Lidl are crying foul over what they say are UK grocers repeated - and often successful - attempts to block planning permission for the discount grocers' planned new stores. Insiders at the discounters say the rues are being abused by bad faith challenges meant to slow them down. In the case of Aldi, its rivals filed 77 objections to its planning applications between 2020 and late 2022. Nonetheless, the cost of living crisis has seen Aldi and Lidl increase their combined market share from 13.7% back in 2019 to nearly 17%. - Sunday Telegraph

It is imperative that small and medium businesses not be left behind by the revolution in Artificial Intelligence, says Steve Hare, Sage Group boss. SMBs are critical to the UK economy, accounting for 99% of its firms and supporting 27m jobs across the country. Furthermore, does not augur widespread future job cuts. For AI is not about replacing humans but about augmenting them. - The Financial Mail on Sunday

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Thursday newspaper round-up: Solar panels, OBR, Chevron
(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
Wednesday newspaper round-up: British economy, Heathrow, FOS
(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - Guardian
Tuesday newspaper round-up: OpenAI, EVs, gas prices
(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - Guardian
Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - Guardian

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