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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 Staff at the Daily Mail and MailOnline have been told to expect job cuts by the publisher as it unveiled plans to combine its digital and print editorial and commercial teams into one seven-day operation. In a letter to colleagues on Thursday, the Daily Mail's editor-in-chief, Ted Verity, and the publisher and chief executive of parent group DMG media, Danny Groom, announced a shake-up that would "result in a number of job losses". - Guardian

The Abu Dhabi fund that was blocked from taking control of The Telegraph is pursuing a potentially less controversial tie-up with ITV's production arm as it attempts to build a global media empire. RedBird IMI has stepped up discussions to merge All3Media, the independent production house behind The Traitors, which it acquired for £1.2bn last year, with ITV Studios to create a film and TV powerhouse worth almost £3bn. - Telegraph

Plans to fly millions more passengers from London City Airport have triggered a row over noise in a sign of the challenges that Rachel Reeves faces in putting aviation at the heart of her growth plans. London City Airport has been accused of using "backdoor tactics" to get around strict noise limits after announcing plans for full-sized airliners to use its short runway. The airport said on Monday it had submitted an application to the aviation regulator seeking permission to run flights using Airbus A320 planes that can carry more than 180 passengers. - Telegraph

OpenAI is in talks for an investment round to raise nearly $40 billion that would value the ChatGPT maker at up to $340 billion. The Microsoft-backed company was last valued at $157 billion in October when it raised $6.6 billion. However, under discussions reported by the Wall Street Journal, the AI company's valuation has almost doubled. OpenAI did not respond to a request for comment. - The Times

Homebase collapsed into administration owing more than £650 million to unsecured creditors including the retailers AO World, Halfords and the Hut, it has been disclosed. A document filed with Companies House reveals the extent of the DIY and garden retailer's debts to its creditors when Teneo was appointed as administrator in November. - The Times

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Friday newspaper round-up: Baby formula, electric vehicles, Fresnillo
(Sharecast News) - Baby formula prices remain close to historic highs more than 18 months after the UK competition watchdog began an investigation into the market, with the government a week late in responding to its proposed remedies. The cost of infant formula fell only 50p on average last year, to £11.99 a tin, compared with £11.10 in 2021, with the most expensive priced at £18. - Guardian
Wednesday newspaper round-up: House prices, Starlink, John Lewis
(Sharecast News) - Donald Trump's global tariff trade war is "nonsense and stupid" and will damage every country in the world, including the US, the boss of one of Britain's most powerful property companies has said. Mark Preston, chief executive of the 348-year-old Grosvenor Group, controlled by the Duke of Westminster, said he was "convinced" that the president's sweeping tariff policies would ultimately be removed. - Guardian
Wednesday newspaper round-up: House prices, Starlink, John Lewis
(Sharecast News) - Donald Trump's global tariff trade war is "nonsense and stupid" and will damage every country in the world, including the US, the boss of one of Britain's most powerful property companies has said. Mark Preston, chief executive of the 348-year-old Grosvenor Group, controlled by the Duke of Westminster, said he was "convinced" that the president's sweeping tariff policies would ultimately be removed. - Guardian
Tuesday newspaper round-up: Liberty Steel, food inflation, Volvo, IPOs
(Sharecast News) - Liberty Steel's operations in South Yorkshire lost £340m in four years, according to figures that shine a light on the difficulties facing a business on the brink of liquidation that employs 1,450 people. The company, owned by the metals magnate Sanjeev Gupta, is desperately searching for investors or lenders before a 16 July deadline, after London's high court granted it extra time last week. - Guardian

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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