Wednesday newspaper round-up: Sunak, nightclubs, Bulb, THG

Rishi Sunak has been accused of failing to do enough to help embattled hospitality businesses through the Omicron wave after refusing to bring back furlough for the hardest-hit firms. Succumbing to intense pressure to offer financial support amid a collapse in pre-Christmas trade for pubs, restaurants and hotels, the chancellor announced a £1bn bailout package on Tuesday consisting of business grants and help with sick pay. - Guardian

Nightclubs have warned that dozens of venues across the country will go bust if a “lockdown by stealth” means they are unable to welcome guests as near to normal as possible on New Year’s Eve. The head of the Night Time Industries Association (NTIA) said clubs are being “crippled” by the government’s decision to avoid a costly national lockdown in England that would have triggered greater support payments to businesses forced to close. - Guardian

Airbus and Boeing have urged the Biden administration to delay turning on 5G mobile networks over fears they could affect US aircraft safety. Bosses of the world’s two largest plane makers have asked the US Transport Secretary, Peter Buttigieg, to support postponing the rollout that is due to start in early January. - Telegraph

The cost to the taxpayer of running Bulb, the failed energy supplier, could spiral by £1 billion or more as gas prices hit fresh record highs, according to industry estimates. Britain’s seventh biggest energy supplier collapsed last month with 1.6 million household customers and was placed in government-backed special administration with a £1.7 billion taxpayer loan to fund its operations. - The Times

Renewed deal speculation and relief that it has dodged a pre-Christmas profit warning have revived the stock market fortunes of THG after a turbulent year. Shares in the ecommerce-to-technology logistics business rose for a fourth consecutive day yesterday after Bloomberg reported that it was again talking about quitting the stock market. Sources had said previously that a decision would be made in the new year if the company’s market valuation remained depressed. - The Times