Wednesday newspaper round-up: Apple, Netflix, grid operators

(Sharecast News) - Andy Burnham has been warned by a leading thinktank of "very difficult trade-offs in the next autumn budget" if the Iran war keeps oil prices and inflation high. The National Institute of Economic and Social Research (NIESR) said the new prime minister faced a "challenging inheritance" and his plans to revamp public services would meet severe pressure from persistently higher prices. - Guardian

Apple has become only the second company to pass the $5tn valuation mark, as it benefited from investors fleeing AI and semiconductor stocks amid a wider tech sell-off. The iPhone maker's shares hit a session high `of $342.89 on Tuesday, giving it a market `capitalisation of $5.04tn (�3.78tn), then eased back down to $340.08 - around the $5tn mark. - Guardian

More Britons now turn to Netflix than the BBC when they switch on the TV as the embattled broadcaster struggles to hold its ground against streaming rivals. More than a quarter of viewers - 26pc - say Netflix is their first choice when looking for something to watch, according to new figures from Ofcom. That is just ahead of the BBC, which is the first choice for 25pc of viewers, while ITV lags behind on 15pc. - Telegraph

Britain's grid operators sought to weaken the electricity system's shock-absorbers just months before they breached safety limits during June's heatwave, new documents show. In a report published last year, the National Energy System Operator (Neso) said the risk of a severe power disruption had increased from a one-in-27-year event to a one-in-seven-year event. This followed a review that uncovered a sharp rise in the likelihood of more than one power station failing at once. - Telegraph

The outgoing boss of Cracker Barrel will be given personal security protection indefinitely after she leaves, in the wake of a backlash over the restaurant chain's "woke" logo redesign. The Nasdaq-listed company said in a filing that, for a "reasonable period of time" after Julie Masino's departure, it would provide protective services "to the extent reasonably necessary" as determined by the board. The company also said it would reimburse her for any tax liability arising from the benefit. - The Times

As the backlash against data centres intensifies and Elon Musk's servers in space remain in the realm of science fiction, one British company is floating a different approach. Mocean Energy believes it can help to alleviate concerns about the proliferation of vast, power-hungry AI warehouses by taking the equipment out to sea. The company, which is based in Edinburgh with operations in Aberdeen, Orkney and the United States, is developing Blue Core, a floating unit housing racks of servers powered by solar and wave energy and linked up by satellite. - The Times