Tuesday newspaper roundup: Twitter, Elon Musk, Bulb, Brexit exports, China lockdowns

Twitter’s takeover by Elon Musk offers shareholders the “best way forward”, its chairman said last night after bowing to the billionaire’s $44 billion offer. The social media group dropped its resistance and approved Tesla’s chief executive’s initial offer of $54.20 per share. – The temperature
The UK government has defended its decision to pay millions of pounds in bonuses to staff at collapsed energy supplier Bulb, despite the fact that it was effectively nationalized as part of a bailout that could cost £2.2 billion pounds to taxpayers. Quarterly “retention bonuses” were deemed necessary to prevent an exodus of staff that could have sabotaged efforts to keep the business afloat while a buyer is found, multiple sources familiar with the matter said. – Guardian

There is no evidence of a ‘sustained decline’ in UK exports to the EU since the Brexit deal came into effect, a report has found. Experts said sales in Europe remained strong, despite a 25% relative drop in imports from the bloc compared to the rest of the world. – Telegraph

Six hundred Interactive Investor employees will receive “celebration payments” of up to a year’s wages as the investment platform strikes a deal to sell itself to FTSE 100 asset management firm abrdn. Richard Wilson, the chief executive, said all staff on the payroll before December 2021 would receive 20% of salary for each year of service, with the 200 long-serving employees hired before December 2016 receiving a full year’s salary. . – The temperature

Markets fell across the world on Monday as fears of another Chinese lockdown sparked panic buying in Beijing. About £40bn was wiped from the FTSE 100 which fell 1.9%, amid concerns over a wave of draconian restrictions to prevent the collapse of China’s zero Covid policy. – Telegraph

Rupert Murdoch’s TalkTV fears being hit with an advertising boycott as the opinionated news network prepares to challenge the BBC. The insurgent news channel launched at 7pm on Monday night fears it will face a similar backlash to that which hit rival broadcaster GB News when some of the world’s biggest brands halted their campaigns following pressure from Stop Funding Hate , the left-wing social media campaign group. – Telegraph

This is a position most companies would like to find themselves in: booming demand for their products. But soaring demand for hormone replacement therapy (HRT) among UK women going through menopause has seen some manufacturers fail to keep pace, leading to months of supply shortages and stories of women struggling to sleep or work effectively after being unable to get their prescriptions. – Guardian

Around 15,000 Russian troops have been killed since President Putin launched his invasion of Ukraine nearly nine weeks ago, according to British intelligence. Ben Wallace, the defense secretary, told MPs that more than 2,000 Russian armored vehicles had been destroyed or captured because he had pledged to send more weapons to Ukraine. – The temperature

Sue Gray expects to complete her report on parties breaking Covid law in Westminster by the end of May at the earliest, the Guardian has been told. Sources said the senior civil servant, who for months has been forced to sit on her findings on the unlawful gatherings while Scotland Yard conducts its own investigation, believes the police investigation could drag on for several more weeks. – Guardian

More than a quarter of UK Netflix subscribers allow friends and family to use their accounts, with at least 17million households sharing passwords across the struggling streaming platform’s biggest markets in Europe. Netflix has announced plans to crack down on the practice as one of several strategic moves designed to stem investor panic after it wiped more than $60bn (£47bn) from its market value last week when it reported its first subscriber loss in a decade. – Guardian

The summer holidays are at risk for millions of people due to huge delays in processing passports, ministers warn as they urge people to lodge their applications ‘as soon as possible’. The government said there had been an unprecedented surge in demand after coronavirus restrictions were lifted as five million people delayed renewing their passports during the pandemic. – The temperature

Lockdowns and social distancing have been linked to a ‘worrying’ rise in cases of hepatitis in young children. Officials said a lack of exposure to common infections during children’s “formative” years, due to pandemic measures, could fuel a global epidemic in cases of fatal liver disease. – Telegraph