Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Friday newspaper round-up: Elon Musk, Co-op Bank, BP

(Sharecast News) - The US Securities and Exchange Commission has reportedly opened an investigation into whether recent stock sales by Tesla CEO Elon Musk and his brother Kimbal Musk violated insider trading rules. The SEC inquiry - first reported by the Wall Street Journal on Thursday - was sparked in part by the Tesla CEO's own tweets. - Guardian The Co-operative Bank has more than tripled its bonus pot for bankers after a "milestone year" that resulted in its first profit in a decade. The ethical lender, which has struggled to turn a profit since 2011, announced it was paying bankers a total of £13.3m in bonuses for 2021, compared with a £4.2m bonus pot shared among its more than 3,200 staff in 2020. - Guardian

BP is under renewed pressure to abandon its stake in the oil giant Rosneft after Boris Johnson said Britain must reduce its reliance on Russian hydrocarbons. The FTSE 100 oil firm has held a 20pc stake in Russia's state-owned gas company Rosneft for 10 years.- Telegraph

Alibaba has recorded its slowest quarterly growth since its listing in New York in 2014 after being hit by rising competition and a slowing Chinese economy. The world's second largest ecommerce business behind Amazon said that its group sales had risen by 10 per cent in the final three months of last year to 242.6 billion yuan (£28.6 billion). - The Times

Leading chip manufacturers have said that they are prepared for any immediate disruption caused by the Russia-Ukraine conflict to the supply of materials used to make the microprocessors that power cars, smartphones and computers. The United States remains highly dependent on the two countries for materials such as palladium and neon. Techcet, a supply chain research company that advises the world's largest semiconductor manufacturers and suppliers, said that Russia accounted for 35 per cent of the palladium imported to America, while Ukraine supplied the majority of neon consumed in the US chip manufacturing sector. - The Times

Share this article

Related Sharecast Articles

Thursday newspaper round-up: Mike Lynch, smart meters, Very Group
(Sharecast News) - San Francisco federal courthouse on Thursday as a key witness in his own criminal fraud trial, which began in March. US authorities have charged the former software tycoon with 16 counts of wire fraud, securities fraud and conspiracy relating to his company's acquisition deal with Hewlett-Packard in 2011. If convicted, Lynch faces up to 25 years in prison. He has pleaded not guilty. - Guardian
Wednesday newspaper round-up: Anglesey power station, electric cars, Eurostar passengers
(Sharecast News) - Ministers have earmarked north Wales as the site of a large-scale nuclear power plant, which is part of plans to resuscitate Britain's nuclear power ambitions. Wylfa on Anglesey (Ynys Môn) has been named as the preferred site for the UK's third major nuclear power plant in a generation, coming after EDF's Hinkley Point C nuclear plant, which is under construction in Somerset, and its Sizewell C nuclear project planned for Suffolk. - Guardian
Tuesday newspaper round-up: New homes, AI, Mike Ashley
(Sharecast News) - A Labour government would aim to announce the sites for a series of new towns within a year of taking office, with the promise that homes would be built in them by the end of a first term, Angela Rayner is to say in a speech. Giving more detail to a plan first outlined in Keir Starmer's party conference speech in October, Rayner will tell a housing conference that Labour will strongly support private developers who create high-quality and affordable housing. - Guardian
Monday newspaper round-up: Border checks, house prices, apprenticeships
(Sharecast News) - Post-Brexit border checks will cost UK businesses £470m a year, the government's public spending watchdog has said. Plans to bring in border checks on goods coming from the EU faced "significant issues" including critical shortages of inspectors before their introduction last month, the National Audit Office said in a report. - Guardian

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.