Wednesday newspaper round-up: Elon Musk, JPMorgan CEO, Carillion

13th May 2026 07:18

(Sharecast News) - Donald Trump is due to arrive in Beijing on Wednesday evening, the first visit to China by a US president in nearly a decade, as he seeks to mend power and prestige weakened by the war in Iran. Trump will bring tech leaders, including Elon Musk of Tesla and Tim Cook of Apple, and plans for headline-grabbing deals. He has said he expects China's leader, Xi Jinping, would "give me a big, fat hug when I get there". - Guardian

Nine in 10 UK millionaires are proud to live in Britain and three-quarters would be willing to pay more tax to ensure public assets get the funding they need, according to research. Despite widely reported concerns that the wealthy are choosing to leave the country owing to higher taxes, the survey found millionaires were much more concerned about medical workers moving away than wealthy people emigrating. - Guardian

Elon Musk's desire to control OpenAI was "hair raising", the boss of the ChatGPT-maker has claimed. Sam Altman said the Tesla boss wanted complete control of the artificial intelligence giant and planned to hand it on to his children when he died. It marks the latest twist in a high-profile courtroom showdown between two of Silicon Valley's best-known billionaires, who have been embroiled in a decade-long feud. - Telegraph

The chief executive of America's largest bank has threatened to pull the plug on a £3bn UK investment if Labour lurches further to the Left. Jamie Dimon said JP Morgan would review its plans to build a new skyscraper headquarters in London if the Government became "hostile to banks again". The warning comes as Sir Keir Starmer faces mounting pressure to resign. Andy Burnham and Angela Rayner, both contenders to replace the Prime Minister, have called for more tax and spending, while a group of 100 Labour MPs, led by Louise Haigh, have called for more Left-wing economic policies. - Telegraph

The last two finance directors of Carillion have been fined again, this time by the accounting industry watchdog, bringing to an end eight years of regulatory investigations into one of Britain's most high-profile corporate collapses. Carillion was one of the UK government's largest contractors, building motorways, hospitals and bridges, but it went into liquidation in early 2018 despite having appeared to be doing well only a few months earlier. - The Times