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04 May, 2021 07:15

Tuesday newspaper round-up: Amazon, Uber, Verizon Media

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Fresh questions have been raised over Amazon’s tax planning after its latest corporate filings in Luxembourg revealed that the company collected record sales income of €44bn (£38bn) in Europe last year but did not have to pay any corporation tax to the Grand Duchy. Accounts for Amazon EU Sarl, through which it sells products to hundreds of millions of households in the UK and across Europe, show that despite collecting record income, the Luxembourg unit made a €1.2bn loss and therefore paid no tax. - Guardian

The electric vehicle maker Arrival aims to start producing cars by 2023 with design help from Uber, in the latest step by the UK-headquartered startup’s ambitious plans to take on the automotive industry. The car, developed specifically for use by ride-hailing drivers, will be Arrival’s first, adding to buses that are due to be on UK roads this year, as well as urban delivery vans. - Guardian

Surrounded by pine trees in a remote patch of the RAF Spadeadam base in Cumbria, three purpose-built houses are being used to test out a vision of the future that could soon be rolled out to homes across the UK. The homes in “Hy Street” are being heated with 100pc hydrogen, the clean-burning gas that is being explored as a possible replacement for fossil fuels in the rush to decarbonise. - Telegraph

The Financial Conduct Authority is close to negotiating a settlement over the £230 million Park First investment scandal that has left 4,600 investors facing significant losses. The regulator is in detailed talks with Toby Whittaker, the Lancashire-based owner of Park First and associated companies that sold individual car parking spaces at Gatwick and Glasgow airports for up to £25,000 each. - The Times

A Wall Street private equity firm has bought Yahoo, AOL and other digital media assets from Verizon for $5 billion. Apollo Global Management will pay the telecoms group $4.25 billion in cash as part of the deal, with Verizon also retaining a 10 per cent stake in the new business. - The Times


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Important Legal Notice about News Sources

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.