Monday newspaper round-up: Amazon, Saudi Aramco, Victoria

Amazon could be off the hook for tax in the UK for at least two more years after benefiting from reliefs brought in by Rishi Sunak during the pandemic, a report suggests. The research from the Fair Tax Foundation indicates that the US tech company claimed more than £800m in capital allowances – business expenses that can be offset against profits – in 2021, £500m more than in 2020. – Guardian

Saudi Arabia’s largely state-owned energy firm has highlighted the colossal profits made by gas and oil-rich nations during the energy crisis by revealing profits in the three months to the end of June up 90% to $48bn (£40bn). Saudi Aramco recorded what is believed to be one of the largest quarterly profits in history to easily beat the near $26bn it made a year earlier. – Guardian

Pub, restaurant and hotel chiefs have warned the industry could face mass closure this winter without “urgent” support from the Government. In a joint letter to Boris Johnson, Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng, seen by The Telegraph, the UK’s leading hospitality groups said the situation was “no less of a threat” than the drought hitting Britain. – Telegraph

Nine in 10 employees at the Bank of England were handed bonuses last year even as inflation soared beyond its 2pc target. A total of 4,263 workers, accounting for about 90pc of its workforce, received a bonus last year, disclosures show. The highest payouts were between £15,000 and £20,000, with 34 members of staff getting rewards in this range. – Telegraph

Short-sellers have ramped up bets against Victoria, a carpetmaker with a royal warrant, after a critical report from an activist investor. The proportion of Victoria shares on loan, a proxy measure of the scale of short -selling, has risen from less than 1 per cent at the start of the year to 12 per cent last week, according to figures from S&P Global. The average is 0.18 per cent. – The Times