Thursday newspaper round-up: Elon Musk, The Body Shop, Telegraph

11th Jul 2024 07:10

(Sharecast News) - Popular trader recommendation websites must vet the firms they advertise and tackle fake reviews under new rules designed to protect households from cowboy builders and tradespeople. Nationally, unscrupulous traders cost homeowners about £1.4bn a year, according to trading standards authorities, a problem that is escalating as demand for home improvements, loft conversions and extensions increases. - Guardian

A US court on Wednesday dismissed a lawsuit claiming Elon Musk refused to pay at least $500m in severance to thousands of Twitter employees he fired in mass layoffs after buying the social media company now known as X. US district judge Trina Thompson in San Francisco ruled on Tuesday that the federal Employee Retirement Income Security Act (Erisa) governing benefit plans did not cover the former employees' claims, and therefore she lacked jurisdiction. - Guardian

British tycoon Mike Jatania is closing in on a deal for The Body Shop, as he moves ahead in the race to rescue what is left of the stricken high street chain. Mr Jatania is understood to be part of a consortium that has entered exclusive talks with administrators overseeing the sale of The Body Shop. His investment firm Aurea Holdings is working on the acquisition alongside Charles Denton, former Molton Brown chief executive, according to sources. - Telegraph

The City regulator is to go ahead with the biggest shake-up of listing rules in three decades in an attempt to help London equity markets attract and retain more companies. The Financial Conduct Authority said loosening rules that govern the rights and information given to shareholders when companies float on the stock market would align "the UK's regime with international market standards". - The Times

The Daily Mail owner DMGT has withdrawn from the auction for the Telegraph newspapers amid fears that it would be drawn into a long and complex competition inquiry. The privately owned media group, which is run by Lord Rothermere, is understood to have told bankers overseeing the sale of its decision in recent days. - The Times