Tuesday newspaper round-up: Rolls-Royce, Amazon, Pendragon
Britain risks mirroring Italy’s economic woes unless it develops a strategy for tackling the five seismic changes that will shape a decisive decade for the country, a report has warned. A joint project by the Resolution Foundation thinktank and the London School of Economics said the UK was neither used to nor prepared for the challenges posed by the aftermath of Covid-19, Brexit, the net zero transition, automation and a changing population. - Guardian
A consortium led by Rolls-Royce is in talks to raise £300m for the development of mini nuclear reactors it hopes can make Britain a world leader in renewable energy and power the “green industrial revolution”. The group, UK SMR Consortium, has finalised the design concept for a low-cost “small modular reactor” (SMR) and is now preparing to put it before UK regulators - a process that could take four years. - Telegraph
Amazon is in discussions to acquire the nearly century-old MGM movie studio in what would be its biggest push into entertainment yet, according to reports. MGM, the Hollywood company behind the James Bond series, would help bolster Amazon’s Prime streaming service. Amazon is weeks into negotiations to buy the studio for about $9bn (£6.4bn), according to Variety. MGM and Amazon declined to comment. - Telegraph
Britain’s fifth largest accountancy firm is planning to allow its 5,500 staff to choose when they work at the office after the pandemic. BDO, which has 18 offices nationwide, said that it would allow staff to work where they were most productive, which the company expects to result in a mix of the office, home and client sites for the majority of employees. - The Times
The future of the head of Pendragon looks precarious after a leading shareholder in the motor dealer called his executive bonus bonanza “out of tune” in the present environment. Anders Hedin, a specialist Swedish investor in automotive businesses, holds 13.7 per cent of the shares in Pendragon, the company behind the Stratstone and Evans Halshaw showroom franchises. That makes him the third largest Pendragon shareholder behind Teleios, the European activist investor, and Crispin Odey, the hedge fund manager. - The Times