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Tuesday newspaper round-up: Elon Musk, Julian Dunkerton, SSE/TotalEnergies

(Sharecast News) - Elon Musk has said he plans to give $45m a month to a Super Pac focused on electing Donald Trump, starting in July, the Wall Street Journal has reported. The tech billionaire, who endorsed Trump two days ago, has already donated what was described as "a sizable amount" to the America Pac, though the actual amount of the donation will not be made public in election filings until 15 July, Bloomberg reported. - Guardian Britain is taking its first steps towards forging closer trading links with the EU in meetings between the new business secretary, Jonathan Reynolds, and international counterparts in Italy. In his first overseas visit since Labour's election landslide, Reynolds will tell a G7 meeting of trade ministers in the Italian city of Reggio Calabria that the new UK government wants to foster a "closer, more mature relationship with our friends in the EU". - Guardian

The founder of Superdry has insisted the struggling "dad brand" will become cool again as it prepares for life after delisting from the London Stock Exchange (LSE). Julian Dunkerton, who founded the retailer in 2003, vowed to make Superdry "so much more relevant" to customers as part of a major overhaul which will end its 15-year tenure as a UK-listed company. - Telegraph

The message is clear and simple. "Let's remember the mission - to create a world of better leaders and managers," the founder and former chief executive of Admiral Group declares to his almost 5,000 TikTok followers. Henry Engelhardt, who launched FTSE 100 insurer in 1993 and was its chief executive for 23 years before leaving the business, starts each of his videos with the same refrain as he teaches the generally younger viewers of TikTok the secrets of successful management. - The Times

SSE and TotalEnergies have created a joint venture to install 3,000 electric vehicle charging points in the UK and the Republic of Ireland. The new ultra-fast charging points are intended to provide enough power in only six minutes for a vehicle to travel more than sixty miles. The business, named Source, will install the charging points over the next five years. To maximise their use, they will be located in 300 hubs along main roads and in urban areas. - The Times

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(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
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(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
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(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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