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Tuesday newspaper round-up: P&O Ferries, National Grid, Heathrow, Mike Lynch

(Sharecast News) - P&O Ferries, which controversially sacked about 800 workers in 2022, has paid some crew members less than half the UK minimum wage thanks to an ongoing legal loophole the British government promised to close two years ago. Agency workers at the company, which is owned by the Dubai-based DP World, have in some cases been earning about £4.87 an hour - even lower than the £5.15 an hour the company suggested was its lowest pay rate - an analysis of recent payslips conducted by the Guardian and ITV News suggests. - Guardian A £58bn plan to rewire Great Britain's electricity grid to connect up new windfarms off the coast of Scotland is expected to trigger tensions with communities along the route. National Grid's electricity system operator (ESO) has mapped out power "motorways" across Great Britain to allow for the biggest investment since the 1960s. - Guardian

Heathrow's inability to expand means it has lost its status as a global transport hub, the boss of Dubai Airports has said. Paul Griffiths, formerly managing director of Gatwick Airport before he moved to the Middle East, said Heathrow is suffering from a shortage of capacity amid an ongoing debate over a prospective third runway. - Telegraph

Mike Lynch has been accused of masterminding a "multiyear, multilayered fraud" at Autonomy that tricked HP into massively overpaying for the business. On the first day of Mr Lynch's criminal trial in San Francisco on Monday, the court heard accusations that the tech entrepreneur "spun a fabulous tale" to lure HP into paying $11bn (£8.6bn) for Autonomy. - Telegraph

Britain's car industry has insisted that an unprecedented 2,000% increase in vehicle exports to Azerbaijan has nothing to with Russia and is explained by the fact that the former Soviet state is a "flourishing market in its own right". Sky analysis has found that the British car sector sent another £40m worth of cars to Azerbaijan in the first month of this year, raising fresh questions about whether those cars were being sent there to circumvent sanctions on Russia. - Sky News

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Friday newspaper round-up: Bank branches, mortgages, Northern Rock
(Sharecast News) - The number of UK bank branches that have shut their doors for good over the last nine years will pass 6,000 on Friday, and by the end of the year the pace of closures may leave 33 parliamentary constituencies - including two in London - without a single branch. The tally is being published by the consumer group Which? as it seeks to make the "avalanche" of closures and the "disastrous" impact they can have on local communities an election battleground. - Guardian
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
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
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

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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