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Tuesday newspaper round-up: Mark Zuckerberg, BoE, electric car batteries

(Sharecast News) - Washington DC's attorney general has sued Mark Zuckerberg, seeking to hold the Facebook co-founder personally responsible for his alleged role in allowing the political consultancy Cambridge Analytica to harvest the personal data of millions of Americans during the 2016 election cycle. The suit, filed in the capital by the District of Columbia attorney general, Karl Racine, alleges that Zuckerberg directly participated in policies that allowed Cambridge Analytica to gather the personal data of US voters without their knowledge in an attempt to help Donald Trump's election campaign. - Guardian The Bank of England will be forced to continue home working if it wants to hire more staff despite the "benefits" of face-to-face conversations, Andrew Bailey has said. The Governor warned the Bank could struggle to recruit if it refuses to let employees work from home, but said he wanted more of them to come into the office. - Telegraph

The cost of electric car batteries will surge 15pc if metal prices remain high, in a blow to millions of consumers seeking to upgrade, the International Energy Agency (IEA) has warned. Supply disruption caused by Russia's war in Ukraine is adding to already surging costs of key components in electric vehicle (EV) batteries, such as nickel and cobalt, forcing manufacturers to pay more or try to find other sources. - Telegraph

A proposed new nuclear power plant in north Wales could cost as much as £17 billion but would be quicker and cheaper to build than EDF's Hinkley Point C in Somerset, according to the American consortium behind the project. Westinghouse, the reactor maker, and Bechtel, the engineering group, hope to win government support and potential taxpayer investment for their plan to build two reactors at Wylfa on Anglesey. - The Times

Almost one in five British workers expect to switch to a new job in the coming year as they seek higher pay. Eighteen per cent said they were very likely to switch to a new employer in the next 12 months, with a desire for a pay rise driving 72 per cent of those employees. More than a quarter, or 27 per cent, plan to ask for more money next year, according to the survey by PwC of about 2,000 UK workers and a further 50,000 from across the world. - The Times

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Monday newspaper round-up: JLR, family-owned manufacturing businesses, airline passengers
(Sharecast News) - Professional designers should not feel "threatened" by the rapid growth of generative AI, according to business leaders, despite fears over job losses in the sector. With design and film production companies and manufacturers all adopting AI at an accelerating pace, industry bodies said the technology would be used to enhance the work of designers rather than replace them. - Guardian
Friday newspaper round-up: Volkswagen, Very Group, Harvey Nichols
(Sharecast News) - The car company Volkswagen has announced it will shed 100,000 jobs by the end of the decade after being hit by US tariffs and fierce competition from Chinese rivals. The German manufacturer said management and unions had agreed as part of a sweeping cost-cutting plan to cut a further 50,000 positions by 2030, bringing total job losses in the pipeline to 100,000. - Guardian
Thursday newspaper round-up: Self-driving taxis, ENRC, Barclays
(Sharecast News) - Andy Burnham moved to calm volatile bond markets on Wednesday as surging borrowing costs threatened to wreck plans for his government's crucial first budget next month. After a days-long sell-off of government bonds - and with the chancellor, John Healey, facing the prospect of sharply reduced spending power, Burnham used his first appearance at prime minister's questions to promise decisions would be "grounded in fiscal responsibility". - Guardian
Wednesday newspaper round-up: defence spending, LSEG, Sports Direct
(Sharecast News) - The chancellor, John Healey, must be prepared to raise taxes for middle earners if he wants to fund significantly higher defence spending, the Resolution Foundation thinktank has said. Healey resigned from Keir Starmer's government in June, protesting against what he argued was the then prime minister's failure to adequately fund defence. - Guardian

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