Friday newspaper round-up: Greybull Capital, Uber, Deliveroo, M&S

The wealthy investors who controlled British Steel when it collapsed into insolvency are to face a grilling from MPs, as government officials race to find a buyer for the stricken company. The government’s official receiver took control of British Steel on Wednesday and is funding its operations, including the company’s Scunthorpe steelworks, which is one of the last two blast-furnace operations left in the UK. – Guardian

Uber is to launch its electric bike hire scheme in the UK, trialling Jump bikes in London through its app. The global ride-hailing firm will be battling with Lime for the e-bike market, after the retreat of dockless bicycle firms from the UK. Uber will place 350 bright red e-bikes in Islington and hopes to expand to other London boroughs in the coming months. – Guardian

Deliveroo is on track to create 70,000 jobs in UK restaurant sector by next year, providing some relief to a market racked with uncertainty as a flurry high street chains battle to stay afloat. A report from Capital Economics claimed the food delivery company, founded in 2013, had created around 25,000 roles in the UK restaurant industry in the past six years. – Telegraph

An independent panel set up by Facebook to scrutinise its own behaviour has said it should consider creating an elected "parliament" of users with the power to rewrite its rules. In a report released on Thursday, the group of academics said Facebook was suffering from a "crisis of public trust" created by its "top-down" approach to moderating and censoring what its users post on its service. – Telegraph

Investors in Marks & Spencer have raised concerns about the £30 million in fees and expenses the retailer is spending on its cash call to finance its food delivery venture with Ocado. M&S is tapping shareholders for £601.3 million in a deeply discounted one-for-five rights issue. However, under the terms of the share sale, unveiled this week, the retailer disclosed that the proceeds would actually amount to £570.7 million once fees and expenses were paid. – The Times

An opportunistic fund run by an American asset management group has formed a joint venture with the British investor New River Reit to buy unloved retail parks. New River Reit has launched the partnership with Pimco’s Bravo Strategies III, a private equity-style fund, with the acquisition of four retail parks in Aberdeen, Dundee, Inverness and the Isle of Wight for £60.5 million. It plans to boost the portfolio to about £500 million of assets over the next few years. – The Times