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Wednesday newspaper round-up: Port Talbot, Amazon, Tripadvisor

(Sharecast News) - The British steel industry is braced for 2,500 job cuts at the Port Talbot steelworks, with thousands more jobs at risk in the UK, as the government prepares a taxpayer-backed deal for the south Wales plant. The business secretary, Jonathan Reynolds, is expected to outline on Wednesday details of a rescue deal which will see the government hand the historic Welsh plant's owners, Tata Steel, £500m to build a new electric furnace - but at the cost of huge redundancies from the closure of its last remaining blast furnace. - Guardian Amazon's cloud computing arm will invest £8bn in the UK to build datacentres that support customers in London and the west of England, Rachel Reeves said on Wednesday. The chancellor said the investment, which it was estimated would create as many as 14,000 jobs at Amazon and in local businesses, was part of the government's "long-term mission to boost growth, unlock investment and make every part of Britain better off". - Guardian

Tripadvisor has provoked anger by abruptly cancelling holidaymakers' accommodation bookings as the company shut down its Airbnb rival. The travel website emailed tenants and hosts on Tuesday to say that it would no longer honour reservations after Nov 1. Tripadvisor, best known for reviews and travel guides, acquired a string of holiday booking websites during the 2010s in an attempt to take on websites such as Airbnb. - Telegraph

The former head of oil at Glencore has appeared in court in London to face corruption charges relating to the commodities trader's operations in Africa. Alex Beard, 57, has been charged by the Serious Fraud Office with two counts of conspiracy to make corrupt payments to government officials and officials of state-owned oil companies in Nigeria between 2010 and 2014, and in Cameroon between 2007 and 2014. He would plead not guilty, his lawyer told Westminster magistrates' court. - The Times

The serviced offices provider that owns Regus has been told by one of its largest shareholders to move its stock market listing to the United States "immediately". Buckley Capital Management said that switching from London to New York would help to boost IWG's flagging share price, which is struggling 60 per cent below its pre-pandemic level. - The Times

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Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - Guardian
Wednesday newspaper round-up: Thames Water, Johnson & Johnson, BoE
(Sharecast News) - Thames Water may need as much as £10bn in debt and equity investment to repair its finances, according to a representative of creditors hoping to lend the struggling utility another £3bn. London's high court heard evidence on Tuesday that suggested the UK's largest water company may need significantly more resources than the roughly £6.3bn it has previously indicated. - Guardian
Monday newspaper round-up: Zero-hours contracts, Barclays, Asos
(Sharecast News) - Hundreds of thousands of British workers are on zero-hours contracts despite being with the same employer for years, according to analysis from the TUC. The majority of zero-hours contract workers have been with their employer for more than 12 months, while one in eight have not been granted regular employment rights after more than a decade working in the same place, the organisation said. - Guardian
Friday newspaper round-up: Apple, Daily Mail, OpenAI, Homebase
(Sharecast News) - Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at $124.30bn, barely above estimates of $124.12bn. Earnings per share were $2.40, just ahead of analysts' expectations of $2.35. Shares rose more than 8% in extended trading after CEO Tim Cook indicated in an earnings call on Thursday that Apple is on the trajectory for revenue growth next quarter. - Guardian

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