Thursday newspaper round-up: Uber, AA, Amazon, Carillion, Lloyds TSB
Uber has confirmed that it is looking to secure a $1.25bn (£900m) leveraged loan, less than a month after revealing that its losses ballooned to $4.5bn last year. The ride-hailing company is thought to be contacting loan investors directly over the financing, which was first reported by Bloomberg, with Uber expected to meet with investors on Friday. – Telegraph
Uber has confirmed that it is looking to secure a $1.25bn (£900m) leveraged loan, less than a month after revealing that its losses ballooned to $4.5bn last year. The ride-hailing company is thought to be contacting loan investors directly over the financing, which was first reported by Bloomberg, with Uber expected to meet with investors on Friday. – Telegraph
Amazon said it was working to fix an issue with its Alexa-enabled devices causing them to spontaneously burst into laughter. Amazon confirmed that it was aware of the problem on Wednesday night, in news first reported by The Verge, though did not provide further details of what was causing it or how long it would take to fix. - Telegraph
Lloyds TSB agreed to “remove” £800,000 of fees due to be paid to PWC from its 2008 accounts in order to avoid breaching internal rules governing auditor independence, according to documents revealed in a High Court battle. The bank indicated that it would move fees due for “independent business reviews” of troubled companies conducted by PWC to a previous accounting period so that it could keep awarding the accountancy firm lucrative work without breaching a £2 million limit imposed by Lloyds’ audit committee, internal emails suggest. – The Times
The former boss of the AA has filed a claim in the High Court alleging wrongful dismissal against the roadside services group and accusing it of having little regard for his mental wellbeing. Bob Mackenzie, 65, is seeking damages after he was sacked as executive chairman last July for gross misconduct. Mr Mackenzie punched Mike Lloyd, head of AA insurance, at an evening work event at the Penny Hill Park Hotel in Bagshot, Surrey. It came after a day when a disagreement emerged over a plan to split off the insurance business and merge it with Hastings, a rival. Mr Mackenzie did not approve of the plan, now abandoned, and tempers are understood to have flared during a conversation in the bar. – The Times
A leading shareholder in Carillion is calling for the break-up of the Big Four accounting firms, in the wake of the company’s collapse in January. Kiltearn Partners criticised the quality of Carillion’s audited reports yesterday before a Commons joint select committee that is investigating the failed outsourcer. – The Times
Women in the UK effectively work for free for more than two months a year because of the country’s gender pay gap, according to the TUC. In a report published to coincide with International Women’s Day, the trade union body called on the government to require employers to carry out pay audits and produce action plans to close the gap in their workplace. – Guardian
Next is facing a demand for up to £30m in back pay from thousands of mainly female shop-floor staff in the first major equal pay claim against a fashion retailer. More than 300 workers have registered to participate in a claim that was filed at the conciliation service Acas on Wednesday. They say they are paid £7.50 an hour or an average £2 an hour less than mainly male warehouse workers who they view as doing work of equal value. The warehouse staff also have access to more lucrative bonuses. - Guardian