Tuesday newspaper round-up: OpenAI, EVs, gas prices
By Michele Maatouk
Date: Tuesday 11 Feb 2025
(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - Guardian
Electric vehicle drivers will spend an extra £85m on UK tax when using public car chargers this year because of a disparity in VAT rates that the industry has said is holding back the transition away from fossil fuels. Home users of electricity pay just 5% VAT compared with the 20% rate that applies to businesses - including electric car charger operators. That means that people charging a car using public chargers face higher costs. - Guardian
Britain's biggest retailers have warned that the high street will shed at least 300,000 jobs over the next three years in a blow to the Chancellor's hopes of reviving local town and city centres. Retailers including Marks & Spencer, Sainsbury's and Tesco have fired a warning shot over the future of the industry, saying a "perfect storm" of higher costs and red tape meant they expected one in 10 shop floor workers to leave retail by 2028. - Telegraph
A cold snap has sent European gas prices to a two-year high as higher demand has accelerated withdrawals from storage facilities, which were already more depleted than usual. The benchmark Dutch TTF contract rose 5.3 per cent to €58.65 per megawatt hour, the highest since February 2023, as colder temperatures hit Europe and parts of northeast Asia. - The Times
Pressure on the competition regulator to encourage economic growth is raising expectations in the City that it will take weaker action following its investigation into the veterinary services market. Recent updated papers issued by the Competition and Markets Authority as part of its 18-month inquiry into the £5 billion-a-year vet industry suggest "a tempering of tone" and "indicates that the CMA may come to a more sensible conclusion versus the initial sensationalism", analysts at Peel Hunt have told clients. - The Times
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