Friday newspaper round-up: PCR tests, hospitality firms, Mike Lynch

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Poor service from suppliers of PCR travel tests is “an issue of national significance”, and regulators are not doing enough to police hundreds of new businesses that have moved into the market, the former competition boss Andrew Tyrie has said. In an interview with the Guardian, Lord Tyrie, who was chairman of the Competition and Markets Authority until last year, called for a clean up of the list of PCR test providers published on the government website, which many travellers consult before buying a kit. – Guardian
Rishi Sunak has been forced to cut short a trip to California and fly back to London to draw up an emergency rescue package for hospitality firms hit by mass Christmas cancellations amid the Omicron wave. The chancellor held crisis talks with struggling firms by video link from the US on Thursday before his flight, after Labour said his absence from the UK was “an insult to British businesses and workers”. – Guardian

The former boss of McDonald’s has been forced to hand back his $105m (£79m) severance package after the fast food chain discovered he had concealed sexual relationships with three employees. Steve Easterbrook had been battling attempts by the burger chain to claw back cash and shares he received after leaving two years ago. But as part of a settlement announced on Thursday, the British executive issued an apology to the company and agreed to forfeit his exit spoils. – Telegraph

Prosecutors have told the fraud trial of Elizabeth Holmes that she “chose fraud over business failure” as they wrapped up their case against the Theranos founder. The once-fêted Silicon Valley blood-testing group would not have attracted funding and revenue had its chief executive been truthful, Jeff Schenk, assistant US attorney, said. – The Times

Mike Lynch, the technology tycoon facing extradition to the United States after being accused of fraud is preparing for the next stage of a legal battle. Lynch has mounted a High Court challenge to a decision made in extradition proceedings. Yesterday a High Court judge said the challenge would be considered at a hearing next month. – The Times

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