Thursday newspaper round-up: Jeff Bezos, JLR, OpenAI
By Michele Maatouk
Date: Thursday 21 May 2026
(Sharecast News) - Rachel Reeves is to promise free summer bus rides for children and cut tariffs on some food imports, as part of a package of measures aimed at easing the costs of the Iran conflict. The chancellor will give a statement in the House of Commons on Thursday, outlining her latest plans for cushioning the blow to consumers from an expected rise in inflation later this year. - Guardian
Manchester has recorded the biggest fall in inner-city deprivation in Britain, according to a report, as Andy Burnham stakes a claim that he could replicate the city's revival nationwide. As the frontrunner to replace Keir Starmer, the Greater Manchester mayor has placed the city's economic performance at the heart of his campaign, describing "Manchesterism" as a political philosophy for a more interventionist approach to the economy. - Guardian
Jeff Bezos has attacked Donald Trump's "crony capitalism" tax system and called for the bottom half of American earners to pay no tax at all. The Amazon founder said the US had encouraged "way too much corporate welfare, way too much corporate subsidy" and described taxes on people with low incomes "absurd". - Telegraph
Jaguar Land Rover (JLR) has signed a deal with the owner of Chrysler and Fiat that could see it build vehicles in the US to sidestep Donald Trump's import tariffs. Britain's biggest carmaker said the pact with Stellantis, which also owns Peugeot, opened the door for the two companies collaborating on product development for the US market. A source said the deal presented an opportunity for JLR to boost North American sales and that nothing was being ruled out, including the possibility of building cars at a US factory. - Telegraph
OpenAI is said to be preparing to file for an initial public offering in the coming days or weeks in a move that could value the ChatGPT maker at $1 trillion. The artificial intelligence start-up, which was last valued at $852 billion, is among a wave of anticipated blockbuster listings in the year ahead, along with Elon Musk's SpaceX. - The Times
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