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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: Royal Mail strikes, FTX, winter blackouts

Fri 18 Nov 2022 07:16

(Sharecast News) - Royal Mail workers will stage six more days of strike action in December, including on Christmas Eve, as part of the latest walkouts to affect the postal service. Members of the Communication Workers Union (CWU) at the service will go on strike on 9, 11, 14, 15, 23 and 24 December. - Guardian Collapsed cryptocurrency exchange FTX's financial records were worse than Enron, its administrator has claimed. John Ray, who was appointed as FTX's liquidator last week, told a US bankruptcy court in filings made public on Wednesday: "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here." - Telegraph

Plans to avert winter blackouts have been dealt a blow as repairs to a key power cable from France to Britain have been delayed until next year. National Grid's Interconnexion France-Angleterre (IFA) cable under the Channel has been running at half capacity since a fire in September 2021 damaged its substation in Kent. - Telegraph

Andy Hornby could be dragged into another controversy after the former HBOS chief was named in a £1.5 billion legal battle over the Libor benchmark interest rate being fought by an entrepreneur and Lloyds Banking Group. It was only in August that City regulators closed a six-year investigation into former senior executives at HBOS after resolving not to take enforcement action against them over the bank's failure in 2008. - The Times

The former Newcastle United owner Mike Ashley has taken over the Coventry Building Society Arena after buying its three operating companies. The acquisition by Ashley's Frasers Group of the 32,609-seat stadium has provided Coventry City Football Club with a permanent home next season and has secured the future of 1,000 jobs in the stadium, which houses a hotel and a casino. The ground was also the home of Wasps rugby club before it went into administration last month. - The Times

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Related Sharecast Articles

Thu 16 May 2024 07:22
Thursday newspaper round-up: JCB, M&S, smart meters
(Sharecast News) - The British digger maker JCB, owned by the billionaire Bamford family, continued to build and supply equipment for the Russian market months after saying it had stopped exports because of Vladimir Putin's invasion of Ukraine, the Guardian can reveal. Russian customs records show that JCB, whose owners are major donors to the Conservative party, continued to make new products available for Russian dealers well after 2 March 2022, when the company publicly stated that it had "voluntarily paused exports" to Russia. - Guardian
Wed 15 May 2024 07:17
Wednesday newspaper round-up: Brexit border outages, Boeing, Stellantis
(Sharecast News) - Lorries carrying perishable food and plants from the EU are being held for up to 20 hours at the UK's busiest Brexit border post as failures with the government's IT systems delay imports entering Britain. Businesses have described the government's new border control checks as a "disaster" after IT outages led to lorries carrying meat, cheese and cut flowers being held for long periods, reducing the shelf life of their goods and prompting retailers to reject some orders. - Guardian
Tue 14 May 2024 07:10
Tuesday newspaper round-up: Tesco, OpenAI, housebuilding
(Sharecast News) - Tesco is facing criticism from "shocked" charities who say they are struggling to distribute unwanted food to homeless and hungry people after they claim the retailer brought in rules that mean unwanted food can only be collected in the evening. The supermarket group has switched to a new system which asks charities to pick up unwanted food, such as items reaching their best before date, only in the evening when a store is closing rather than the following morning, the charities have claimed. - Guardian
Mon 13 May 2024 07:21
Monday newspaper round-up: BT, ultra-long mortgages, Fever-Tree
(Sharecast News) - BT has said it is increasingly using artificial intelligence to help it detect and neutralise threats from hackers targeting business customers amid repeated attacks on companies. The £10.5bn group is aiming to build up its business protecting customers from online criminals and has patented technology that uses AI to analyse attack data to allow companies to protect their tech infrastructure. British businesses are routinely facing hacking attempts, and some recent high-profile victims have included including the outsourcer Capita, Royal Mail and British Airways. - 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.

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