Friday newspaper round-up: FTC windfall tax, BYD

(Sharecast News) - The bank holiday getaway is likely to be a tricky one, with transport analysts predicting congested roads and the year's busiest day so far for departing airports, while long-distance rail passengers dodge the start of more engineering work. Motoring organisations forecast traffic to be at its worst on Friday, with many drivers surveyed apparently taking an extra day off before the long weekend and half-term break for most schools in England and Wales. - Guardian The US Federal Trade Commission has demanded documents from Media Matters about possible coordination with other media watchdogs accused by Elon Musk of helping orchestrate advertiser boycotts of X, according to a document seen by Reuters on Thursday. The civil investigative demand seen by Reuters seeks information about Media Matters' communications with other groups that evaluate misinformation and hate speech in news and social media, including a World Federation of Advertisers initiative called Global Alliance for Responsible Media. X has ongoing lawsuits against both organizations. - Guardian

Labour's windfall tax on oil and gas producers will leave 1.5bn barrels of oil and gas stuck in abandoned North Sea oil wells, according to new analysis of the levy's impacts. The predicted output between now and 2050 has fallen 40pc from 3.6bn barrels of oil equivalent to just 2.1bn barrels, according to a report from investment bank Stifel. - Telegraph

Elon Musk's Tesla has suffered yet another blow as the Chinese electric vehicle maker BYD outsold it in Europe for the first time last month. BYD overtook Tesla's long-standing dominance in the Continent's EV segment, registering 7,231 new battery-powered cars in April, while the US carmaker sold 7,165 units, according to figures from the market research firm Jato Dynamics. - The Times

Strava, the American exercise tracking platform beloved by middle-aged men in Lycra, has built on the momentum it gained during the pandemic to reach a valuation of $2.2 billion. It is the first time Strava has disclosed its valuation since a fundraising round in November 2020, when it was valued at $1.5 billion as millions of new subscribers flocked to the platform during Covid lockdowns. - The Times