Wednesday newspaper round-up: ONS, Toyota, Reach

(Sharecast News) - The UK's embattled statistics agency cannot reverse a pandemic-era decision to release official data on the state of the economy before financial markets open because its creaking website could crash, it has emerged. The Office for National Statistics (ONS) had sought views on whether to revert to releasing statistics - such as GDP and inflation data - at 9.30am. The releases were moved forward to 7am in March 2020 to allow investors time to digest consequential data - such as the subsequent record contraction in the economy - before the start of London stock market trading at 8am. - Guardian Toyota has said it plans to build battery vehicles in the UK in the future as it seeks to keep all of its European plants open, although it will be cautious before switching away from fossil fuels. The Japanese company, the world's largest carmaker by sales, said it wanted to retain all eight of its European factories through the transition to electric cars, as it announced two new electric models and promised another three by 2026 under its main brand. It also showed a new electric model under its premium Lexus brand, with two more to come this year. - Guardian

Mental health claims have fuelled a surge in benefits payments post-Covid, the Institute for Fiscal Studies has warned. New figures show that the number of working-age adults claiming disability benefits across England and Wales has jumped from 2m to 2.9m since 2019, with the increase containing half a million people who cite poor mental health as their main condition. - Telegraph

The owner of the Mirror newspaper is paying more than two-thirds of its cash flow into the pensions fund raided by Robert Maxwell following an intervention by the watchdog over a shortfall of more than £200m. Reach, which also owns the Express and dozens of local newspapers, has agreed to increase its funding for the troubled MGN pension scheme amid concerns it lacked sufficient reserves to pay for its retired employees. - Telegraph

As President Trump was sworn in for a second term on a freezing cold January day in Washington's Capitol Building, the founders and bosses of America's top technology companies were given front row seats as the billionaire "tech bros" made a show of their allegiance to the new president. The promise of deregulation and a fresh wave of deal-making sparked a post-election rally that propelled the share prices of the tech heavyweights higher, some to record levels. - The Times