Sunday newspaper round-up: KPMG, gig economy, airlines, Nscale, Riyadh, Axel Springer

(Sharecast News) - KPMG has moved back into restructuring five years after selling its insolvency arm, hiring Chris Hogg from Alvarez & Marsal to lead the renewed push. The Times reported that the firm, which sold its UK restructuring business to HIG Capital in 2021, is rebuilding capability as demand for turnaround advice rises. Hogg previously spent nearly nine years at FTI Consulting before joining A&M.

Business secretary Jonathan Reynolds will launch a threemonth consultation aimed at tightening rules around gigeconomy employment, targeting companies such as Amazon, Evri and Deliveroo. According to the Times, the move seeks to close loopholes that allow firms to avoid minimumwage and holidaypay obligations for almost one million workers. Royal Mail, which last week announced up to 2,500 job cuts, is backing the crackdown as it loses parcelmarket share to gigbased rivals.

Airline bosses have warned of a looming "crisis" as jetfuel prices surge following the outbreak of war in Iran. The Telegraph said fuel costs have jumped to around $208 per tonne, more than double last year's level, forcing carriers to cut flights and delay lease payments. EasyJet and Lufthansa are preparing winter capacity reductions, while Ryanair chief Michael O'Leary told the Financial Times the situation was "fullblown" and would hurt operators across the sector.

British AI and datacentre operator Nscale has removed references to a major customer relationship with China's Bytedance from official filings ahead of a planned $35bn New York listing. According to the Telegraph, details of the deal appeared in an earlier confidential submission to US regulators but were absent from public filings published last month, amid longstanding political scrutiny of Bytedance in the US.

Twelve people were killed and more than 300 injured after a missile struck terminals at Riyadh's King Khalid International Airport, an attack Saudi authorities blamed on Iranbacked Houthi rebels in Yemen. The Guardian reported that the dead included Saudi nationals and foreign citizens from Bangladesh, Palestine, the US, Egypt, Jordan, Syria and Sudan. Donald Trump said the US was assessing whether to join Saudi strikes against Houthi forces.

Telegraph owner Axel Springer is preparing significant newsroom job cuts just months after pledging to invest in the title's growth. According to the Guardian, proposals under consideration would remove between 50 and 100 editorial roles, with a consultation expected before Christmas. The plans raise questions over the company's earlier commitment to expand Telegraph Media Group as a leading centreright outlet.