Wednesday newspaper round-up: OpenAI, Citroen, John Lewis
By Michele Maatouk
Date: Wednesday 20 Aug 2025
(Sharecast News) - The maker of ChatGPT is on the cusp of becoming the world's most valuable private company. OpenAI is in talks to sell $6bn in shares, which would boost its valuation to $500bn, according to multiple reports. The artificial intelligence startup's stock would be sold to investors by current and former employees. OpenAI has seen exponential growth over the past year. Investors, including Microsoft and SoftBank, have poured at least $40bn into the startup, giving it a valuation of $300bn as of March. Last October, it was valued at $157bn. - Guardian
The transport secretary, Heidi Alexander, has expressed "serious concerns" about Citroën's handling of a safety recall that has left thousands of Britons unable to drive their cars. In June the car company's owner, Stellantis, issued an immediate and rare "stop drive" order for certain models because of a potentially fatal airbag safety fault. - Guardian
Millions of households will be hit with energy price rises in October because of a government levy that subsidises electricity and gas for the UK's poorest homes, according to new analysis. Annual energy bills are expected to rise from £1,720 a year to £1,737 this autumn, with nearly 90pc of the increase because of the expansion of the Warm Homes Discount, which is funded by a levy on bills, according to consultancy Cornwall Insights. - Telegraph
John Lewis's proposals to build rental flats in Reading are facing a backlash from local campaigners who have warned over a wave of "bland and boring" buildings across the city. Heritage campaigners said a plot of land on the ring road in Reading "deserves better" than John Lewis's designs for the new housing development, which is due to replace its vacant warehouse. - Telegraph
The UK government has approved the sale of a British chipmaker to a London fund, backed by up to $100 million of Chinese money. Plessey Semiconductors, which counts Meta Platforms as its key customer, has been acquired by Haylo Labs in a deal financed by a loan from Goertek, a Chinese tech giant. - The Times
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