Friday newspaper round-up: Gambling sector, FOS, Amazon
By Michele Maatouk
Date: Friday 07 Feb 2025
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
Two former senior figures at bankrupt Woking council are to be investigated by the UK's accounting watchdog after it racked up more than £2bn in debt on a failed investment spree. The Surrey council declared itself effectively bankrupt in 2023 after ploughing vast sums of borrowed money into skyscrapers, a luxury hotel and other risky commercial investments, in what was one of the biggest financial failures in local government history. - Guardian
Sir Keir Starmer has signalled plans to approve a major oil development in the North Sea despite opposition within his Cabinet. The Prime Minister on Thursday suggested he would not stand in the way of the Rosebank oil field as a license had previously been granted. The future of Rosebank, which is backed by Norway's Equinor, has been in doubt after a court overturned its permit by ruling the previous government had failed to take into account climate concerns. - Telegraph
The head of a leading consumer watchdog has been ousted amid Rachel Reeves's push to spur growth. Abby Thomas unexpectedly quit as chief executive of the Financial Ombudsman Service (FOS) on Thursday, which is responsible for resolving disputes between City firms and their customers. - Telegraph
Amazon missed sales expectations for its cloud computing business, fuelling concerns about the tens of billions of dollars it has invested in artificial intelligence infrastructure. Amazon Web Services, the cloud computing business, reported fourth-quarter revenue of $28.79 billion, below Wall Street estimates of $28.84 billion. - The Times
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