Tuesday newspaper round-up: Amazon, wind power, Elon Musk

(Sharecast News) - Amazon is preparing to lay off tens of thousands of corporate workers, reversing its pandemic hiring spree. The cuts come months after the retail giant's CEO warned white-collar employees their jobs could be taken by artificial intelligence. The Seattle-based technology firm is planning to cut as many as 30,000 corporate jobs beginning Tuesday, media outlets including Reuters and the Wall Street Journal reported, citing unnamed sources familiar with the matter, as it tries to cut costs and undo the vast recruitment drive it embarked on at the height of the coronavirus pandemic, which unleashed an extraordinary - but fleeting - surge in demand for online shopping. - Guardian

Wind power has cut at least �104bn from energy costs in the UK since 2010, a study has found. Users of gas have been among the biggest beneficiaries, the research suggested. Research by University College London found that from 2010 to 2023, energy from windfarms resulted in electricity bills being lower by about �14.2bn than they would have been if gas had been needed to generate the same amount of power. However, the reduction in the cost of gas that could be attributed to wind generation - owing to the cut in demand and not needing to build new infrastructure - was much greater, at about �133.3bn. - Guardian

A City trader wrongly jailed for rate rigging is suing UBS for more than $400m (�300m) over claims the bank tried to frame him. Tom Hayes has launched a lawsuit against his former employer after the Supreme Court quashed his conviction earlier this year. In court documents filed in the US, Mr Hayes has accused the bank of creating a "scheme to maliciously frame" him in an effort to protect itself from scrutiny. - Telegraph

Janus Henderson, one of the City of London's biggest asset management groups, has received a provisional takeover offer from Nelson Peltz, the veteran American activist investor. Peltz, who already owns 20.4 per cent of Janus Henderson, is offering to buy the other 79.6 per cent at $46 a share, valuing the business at $7.2 billion. - The Times

Elon Musk may step down from Tesla if shareholders "fail to foster an environment that motivates" him by handing over a pay package worth up to $1 trillion, the carmaker's chairwoman has warned.Robyn Denholm issued the warning in a letter to shareholders before a vote on the pay deal, which would be the largest pay package in corporate history. - The Times