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Rigorous Fearless Independent

Claire said the super-rich have long sought to buy newspapers to help push their agendas and it was now possible to “count on one hand the big media brands that aren’t owned by an oligarch or other billionaire."

“It’s another sign that the super-wealthy wish to control assets that give them an extra level of power. Whatever they may say, that’s the reason why they buy them."

She added “It is now unusual for major news media not to be owned by a billionaire, and that is why the Guardian [owned by the independent Scott Trust], the Financial Times [owned by the employee-owned Japanese media group Nikkei] and the BBC are consistently shown to be the most trusted news brands.”

Gill said it was too early to judge whether the channel owned by Mr Murdoch's News UK will be a success.

"TalkTV isn't a standalone TV station. It is just one aspect of what News UK wants to do in terms of their multi-media approach going forwards."

"Whatever your audience is on the first night, you would expect it to drop massively – especially as they started with Trump. I think they have some good guests coming up over the next few weeks, so I think you will see it building over a period of time."

"And it doesn't just matter what the audience is like in the UK, but also what it is like in America and Australia [where Piers Morgan Uncensored will also be broadcast]."

Amazon's first reported loss since 2015 is not surprising in a difficult inflationary environment, as ecommerce resets from the pandemic boost. Highly exposed to cost pressures through its logistics business, the situation is not as bad as it looks

The increases to Fulfilled by Amazon fees have been completely lost in the storm, while costs continue to increase on all sides. Amazon's announced increases are unlikely to keep up 

Launching Buy with Prime will allow Amazon to increasingly monetise FBA: a further step towards creating a monopoly in the fulfillment space while also boosting the desirability of Prime membership

Joseph said that TikTok came at the “perfect time” for publishers during lockdown. “They [publishers] were scrambling to find an alternative way to reach readers once book shops were closed from lockdown."

“The TikTok algorithm is famously good for connecting people with the niches people are interested in and it is great for visual mediums, making books an art form."

Meta presented mixed results against low expectations, with its ad business a concern in the age of privacy.

Reels is at the core of the company’s strategy to win users given heightened competition, but its monetisation challenge persists.

Meta spent $3.7 billion on its metaverse gamble in the quarter. A higher-end device will help address strengthening enterprise demand for VR headsets, but the route to profitability remains unclear.

James said “It makes sense to launch their most advanced new products on EE only, as this brand has more of an innovative edge to it, and launching everything across multiple brands would be time-consuming and confusing for customers. They have already been doing this to some extent but no doubt they will want to accelerate innovation going forward."

“Having said this, it would be very hard to maintain such a large customer base on just one brand, so I expect the BT and Plusnet brands to continue and still be supported by marketing campaigns."