Thursday newspaper round-up: Cost of living, Ebay cuts, Tobacco packaging...
The Independent printed that average pay is rising at more than three times the cost of living according to official figures – but the Bank of England yesterday hinted the good news may not last. In a boost to household budgets across the country, the paper wrote, average pay rose by 1.8% in the quarter to November, the Office for National Statistics said.
eBay Inc.
$49.95
12:59 18/04/24
Nasdaq 100
17,394.31
12:15 18/04/24
Online retailer eBay is axing 2,400 jobs after reporting weak Christmas sales and forecasting sluggish revenue growth for the current quarter, according to The Telegraph. The US company said on Wednesday night it is also exploring a sale or public offering of its enterprise unit, which helps companies boost online sales.
According to The Times, tobacco companies will be forced to sell cigarettes in unbranded packs from next year after ministers said they were pressing ahead with the proposal before the election. Anti-smoking campaigners had feared the government was backing away from a vote on the introduction of “standardised” packs before May.
The head of the Iraq inquiry has been summoned before MPs to explain why his controversial report will not be published until after the election, according to The Times. Sir John Chilcot faced demands to explain the new delays as Tony Blair denied that he or any of the main witnesses were behind them, wrote the paper.
Goldman Sachs has made its first foray into “big data” in Asia by investing the lion’s share of a $56m round of funding for Antuit, a Singapore-based data analytics start-up, wrote the Financial Times. The investment illustrates the US bank’s interest in new big data technologies in Asia and Singapore’s emerging role as the region’s hub for a rapidly growing industry that has long been centred around Silicon Valley, the paper said.
A former leading Liberal Democrat peer has donated £300,000 to Labour candidates to boost the party’s prospects of taking power in May, wrote The Times. Lord Oakeshott of Seagrove Bay has handed the generous sum to 30 Labour candidates and matched it with an equal donation to 15 left-leaning Lib Dem MPs and candidates.
The Wall Street Journal printed that rebels demanding a greater share of power in Yemen agreed to release the US-backed president in exchange for more influence in running the country’s affairs, according to the state news agency. The Houthi rebels reached the deal with President Abed Rabbo Mansour Hadi on Wednesday, said the paper, after surrounding his residence and effectively putting him under house arrest.
A couple with a child would need to save for nearly 26 years to buy a home in London, according to a report by Shelter, The Times wrote on Thursday. The housing charity said that its research showed big regional differences in the time it takes to build up a deposit for a home, which can be more than 20% of the house price, it printed.
The company behind Comparethemarket has “no problem at all” with new tougher rules for energy price comparison sites, arguing that customers already save far more by changing supplier than the website makes in commission, wrote The Telegraph. The chief executive of BGL, which on Thursday reported a 6.8% rise in pre-tax profits to £94m for the year to July, also said advertising costs currently wipe out any profit the company makes from providing energy deals, the paper published.