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Friday newspaper round-up: Co-op Group, London pubs, Luton airport

(Sharecast News) - Cross-Channel train services serving new destinations will be cheaper to run under a scheme to grow international rail travel from the UK. London St Pancras Highspeed (LSPH), which owns and operates the railway and stations from the capital to the Channel tunnel, said it would slash charges for operators planning new routes. Eurostar is the sole existing operator between the UK and Europe, with regular direct trains reaching only Paris and Brussels, as engineering work affects the Amsterdam route until May. - Guardian The Co-operative Group plans to open at least a further 120 grocery shops this year after profits rose more than fivefold, but told the government that "layering costs" on retailers could hit high streets and communities. The mutual, which owns more than 800 funeral parlours and an insurance and legal advisory business as well as operating more than 2,000 convenience shops, said changes to employers' national insurance contributions (NICs) and packaging regulations were expected to add £80m to its costs this year. It also lost £80m to shoplifters last year despite spending millions on new security measures. - Guardian

Pubs in London could stay open longer after Sir Sadiq Khan was handed fresh powers to overturn council bans on noisy bars amid a row over the capital's dying nightlife. The London Mayor will be able to "call in" blocked planning applications as part of a package of measures designed by ministers to boost the capital's hospitality industry, the Government said on Friday. - Telegraph

The Government has overruled the advice of planning officials to wave through the expansion of Luton airport. Heidi Alexander, the Transport Secretary, approved the move to almost double the capacity of Luton on Thursday. Passenger numbers will rise to 32m by 2043 thanks to the creation of a new terminal. The increase will almost double the 16.7m passengers that passed through Luton in 2024. Ms Alexander has given the green light to the expansion despite the Planning Inspectorate urging her to reject it on environmental grounds. - Telegraph

One of Britain's biggest private companies has announced plans to double the size of a new factory in Texas to make even more products in the US in the wake of President Trump's announcement of his tariff regime. Staffordshire-based JCB, which has been making diggers and other machinery in America for more than 50 years, said plans for a 500,000 sq ft factory in San Antonio had been revised since Trump unveiled a 10 per cent tariff on all imported UK goods. The $500 million plant, which is due to begin production next year and will employ up to 1,500 workers, will now be 1 million sq ft. - The Times

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(Sharecast News) - UK banks' earnings reports will be studied this week for signs of turmoil linked to Donald Trump's tariff drama, with uncertainty over global growth likely to weigh on lenders with heavy exposure to China, including HSBC. First-quarter profits only reflect the January-to-March period that preceded the US president's "liberation day" tariff announcements on 2 April. But investors will be concerned about any hints of caution around earnings forecasts, as well as an uptick in money put aside for defaults by tariff-hit borrowers. - Guardian
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Friday newspaper round-up: Apple, South Korea, Drax...
(Sharecast News) - Apple plans to shift the assembly of all US-sold iPhones to India as soon as next year, according to people familiar with the matter, as President Donald Trump's trade war forces the tech giant to pivot away from China. The push builds on Apple's strategy to diversify its supply chain but goes further and faster than investors appreciate, with a goal to source from India the entirety of the more than 60mn iPhones sold annually in the US by the end of 2026. - Financial Times
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(Sharecast News) - The Tesla chief executive, Elon Musk, said he will start pulling back from his role at the so-called "department of government efficiency" starting in May. Musk's remarks came as the company reported a massive dip in both profits and revenues in the first quarter of 2025 amid backlash against his role in the White House. On an investor call, Musk said the work necessary to get the government's "financial house in order is mostly done". - The Guardian

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