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Thursday newspaper round-up: Microsoft, energy price cap, benefits

(Sharecast News) - Microsoft has filed an appeal against the UK competition watchdog's decision to block its $69bn (£56bn) acquisition of the Call of Duty creator Activision Blizzard. The US tech company confirmed that it had formally lodged an appeal against the Competition and Markets Authority (CMA) verdict against the deal last month. Its case will be argued before the Competition Appeal Tribunal (CAT). - Guardian The founder of Monzo has quit London in favour of San Francisco as he said the US was "much more accepting" of tech companies than Britain. Tom Blomfield, who co-founded the banking app in 2015 and left the company in 2021, said Britain was "not always favourable to ambitious founders who want to do something unusual". - Telegraph

Nearly 4 million people are being paid jobless benefits without ever having to look for work following a surge in claims of mental health and joint pain during lockdown. Around 3.7 million of the 5.2 million people currently claiming out of work benefits have been granted an exemption from finding a job, meaning that taxpayers face bankrolling their benefits indefinitely. - Telegraph

Energy bills will fall by 17 per cent to an average of £2,074 a year for a typical household from July, Ofgem has announced. Households have been paying record high prices since October - equivalent to £2,500 a year based on typical usage - under the government's energy price guarantee. - The Times

A lawsuit against the former boss of Barclays alleging that he hid what he knew about Jeffrey Epstein while working at a US bank has been allowed to proceed by a New York judge. Jes Staley, 66, faces a claim that could run to tens of millions of dollars from JP Morgan, the US bank where he filled senior roles between 1999 and 2013, before joining Barclays in 2015. - The Times

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Monday newspaper round-up: Meta, capital gains, rare earth minerals...
(Sharecast News) - Meta has launched a fresh legal challenge against Britain's media regulator in the latest of a slew of actions by social media companies who are accused of using the courts to slow down implementation of the Online Safety Act. Lawyers for the parent company of Facebook served notice during the week in an appeal against placing WhatsApp and Instagram, which are also owned by Meta, in a category that subjects them to additional duties. - The Guardian
Friday newspaper round-up: Thames Water, British Steel, OITS
(Sharecast News) - Andy Burnham is under further pressure to take control of ailing Thames Water from a cross-party group of MPs who are calling for ministers to break off talks with the US hedge funds who are effectively running the company. Adding their voices to demands that the prime minister takes public control of the company, which has debts of £20bn and is being controlled by a group of 100 hedge funds and distressed-debt investors, the MPs said in a report that ministers should consider emergency legislation to take control of its financial affairs to stabilise the company. - Guardian
Thursday newspaper round-up: Gambling advertising, diesel prices, Revolut founder
(Sharecast News) - The UK should introduce a ban on almost all gambling advertising to protect public health, a cross-party group of peers has urged, prompting fury from the lobby group for bookmakers and casinos. In a 173-page report, the House of Lords liaison committee said the government had been "too passive" in response to an explosion of digital advertising and social media influencers promoting the gambling sector. - Guardian
Wednesday newspaper round-up: Global defence bank, KPMG, Frasers Group
(Sharecast News) - John Healey is in talks with the Canadian government about joining a new global defence bank intended to help allies rearm to counter mounting security threats, just weeks after Rachel Reeves rejected the move. The chancellor is understood to be actively considering a bid to join the proposed Canada-led defence, security and resilience bank (DSRB), which proponents say could help the UK fund defence projects at lower cost, before planned talks with his Canadian counterpart this week. - Guardian

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