Wednesday newspaper round-up: Amazon, Facebook, Euro Disney, Google
Britain is running out of food warehousing facilities needed by retailers and manufacturers to stockpile goods before a possible no-deal Brexit – and the shortage may be the result of Amazon booking the space, MPs have been told. Ian Wright, the director general of the Food and Drink Federation, told the business, Energy and industrial strategy committee (BEIS) on Tuesday that a shortage of space had driven up the cost of chilled warehouse space, even though the shelves may be empty. – Guardian
Customers of Britain’s 7,000 biggest companies would be given the right to vote on the pay of top executives under plans for a clampdown on boardroom pay being considered by Labour. A report commissioned by Rebecca Long-Bailey, the shadow business secretary, and John McDonnell, the shadow chancellor, calls for an annual binding vote on executive packages to include all stakeholders – including employees and consumers. – Guardian
Facebook investigated suspicions of Russian data harvesting as early as 2014, at least two years before the social network admitted to widespread interference from Moscow, according to private emails seized by Parliament. Damian Collins, the chairman of the Commons Digital, Culture, Media and Sport Committee, revealed that Facebook staff had found computers in Russia accessing “3bn data points a day” from the social network in 2014. – Telegraph
Theme park operator Euro Disney has revealed it will create more than 1,000 jobs as part of a development plan which it hopes will double its visitor capacity and triple the number of hotel rooms on its site by 2030. The resort on the outskirts of Paris is Europe’s most popular tourist attraction and has around 15m visitors annually. Half of them come from France followed by Britain which represents around 28pc of the total. – Telegraph
Google has paid $1 billion for a business park in Silicon Valley, meaning it has completed the two largest property deals in America this year. The internet company acquired a 12-building campus in Mountain View, minutes away from its California base. Shoreline Technology Park was already largely occupied by Google. – The Times
Banks are “overly confident” about their ability to manage their IT systems, despite overwhelming evidence that the number of technology failures is growing rapidly, a senior financial regulator has warned. Megan Butler, executive director of supervision at the Financial Conduct Authority, said that firms had reported a 138 per cent rise in outages in the year to October, yet most still felt that they were on top of their IT problems. – The Times