Bosses of M&S, Sainsbury’s and Tesco among those writing to Starmer that the ‘ladder of opportunity’ is wobbling

• We would like to hear from young people in the UK about their job-hunting experiences

Some of the UK’s biggest retailers are planning to write to the prime minister urging him to tackle the youth unemployment crisis, with signatories expected to include the bosses of Marks & Spencer, Sainsbury’s and Tesco.

Lobby group the British Retail Consortium said it had drafted a letter to Keir Starmer calling for action, and is circulating it among its 200 members, which include all the main UK retailers (with the exception of Games Workshop) as well as smaller shops. The letter is expected to be published on Wednesday.

Tech company received infrastructure relief as its five biggest UK divisions generate £32bn in revenues

Amazon’s main division in the UK was handed a £7.6m tax credit last year by HM Revenue and Customs, despite profits at the retail-to-streaming company surging by more than a quarter to £355m.

Amazon UK Services – which employs 66,000 staff, the vast majority of the company’s 75,000 employees in Britain – said it owed £9.1m in “current tax” last year.

Nuvalent’s late-stage lung cancer treatments zidesamtinib and neladalkib are expected to launch later this year

• Business live – latest updates

GSK’s new boss, Luke Miels, has struck one of the British drugmaker’s biggest deals, announcing the $10.6bn (£7.9bn) acquisition of a US cancer specialist with two late-stage medications.

The FTSE 100 company is increasing its oncology portfolio by agreeing to buy Nuvalent, a Boston-based biotech company that develops cancer drugs, including three for lung cancer. GSK will pay $124 a share in cash.

Fines may be needed to deter travellers from retrieving hand luggage, says official from airlines body Iata

• Business live – latest updates

Air passengers are increasingly putting lives at risk by filming emergencies and retrieving bags instead of evacuating planes, industry experts have said, with some suggesting fines could be needed.

Passenger aircraft are designed to be fully evacuated in 90 seconds in an emergency – but people reaching for hand luggage can significantly increase that time, blocking exits and aisles as well as damaging slides or causing injury.

Protectionist measures will deal blow to country’s budget as it defends itself against Russia, says Metinvest chief

New EU limits on steel imports could destroy Ukraine’s industry and deal a big blow to the country’s budget as it defends itself against Russia, according to the head of its biggest steelmaker.

Yuriy Ryzhenkov, the chief executive of Metinvest, said the new EU quota system due on 1 July could “kill the Ukrainian steel industry”.

Hugh Marks confirms ABC secretly engaged recruitment firm and signals sweeping changes at national broadcaster

• Follow our Australia news live blog for latest updates

• Get our breaking news email, free app or daily news podcast

The ABC managing director, Hugh Marks, has confirmed he secretly engaged a recruitment company to look for a replacement for news director Justin Stevens after the two disagreed over the direction of ABC News.

Marks said Stevens “did not know” he had begun an international search for a new head of news but it was a necessary move because they “couldn’t get agreement on the way forward”.