Tuesday newspaper round-up: Arm takeover, Motorola, Silentnight

by | Feb 8, 2022

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Thousands of homes could soon be paid to halve their electricity usage for a couple of hours daily when the UK’s power demand is high under a new scheme to help reduce energy bills and create a zero carbon power supply system. From next week the trial by Octopus Energy and National Grid’s electricity system operator will offer the household supplier’s customers the chance to earn money by cutting their power use by between 40% and 60% below normal levels during a set two-hour period. – Guardian

The former owner of Norton Motorcycles faces up to two years in prison after pleading guilty to illegally investing millions of pounds of people’s retirement savings into his own businesses. Stuart Garner, who acquired the classic marque in 2008 and was feted by a series of UK government ministers including the MP Stephen Barclay, the prime minister’s new chief of staff since Saturday, admitted three offences at Derby magistrates court on Monday. – Guardian

The $40bn (£30bn) US takeover of Arm Holdings, one of Britain’s biggest tech firms, has collapsed in the face of opposition from regulators. Authorities in the UK, US and EU raised concerns over its impact on competition in the global semiconductor industry, the Financial Times reported. It also said that Arm, based in Cambridge, may face a management reshuffle. It is understood that Rene Haas, head of the company’s intellectual property unit, could replace chief executive Simon Segars. – Telegraph


Motorola has failed to block an investigation into concerns that it is “cashing in” on the mobile network used by Britain’s emergency services. The Competition and Markets Authority (CMA) is scrutinising the US telecoms giant, which is working on a much-delayed new system for the police, fire brigade and ambulance service, while still operating the old network. – Telegraph

The professional body for chartered accountants came under more pressure to hand £13.5 million of fine proceeds to the Silentnight pension scheme after it was estimated that the cheated members of the scheme would face 30 per cent cuts to their promised pensions. The Institute for Chartered Accountants in England and Wales has been asked to pay to the pension scheme the fines levied on KPMG for its part in leaving the 1,200 members short-changed. – The Times

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