Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Friday newspaper round-up: Reddit, water suppliers, Britishvolt
(Sharecast News) - The billionaire businessman Mike Ashley has claimed he was the victim of "abuse" by Morgan Stanley amid a high court dispute over the investment bank's decision to impose a near $1bn (£790m) cash demand. Ashley's Frasers Group is taking legal action against the US investment bank Morgan Stanley and Denmark's Saxo Bank over the May 2021 move linked to bets placed on shares in the German retailer Hugo Boss. - Guardian Reddit set the stage for its highly anticipated stock market debut, preparing investors for the largest initial public offering by a major social network in four years. A filing with the Securities and Exchange Commission on Thursday disclosed the financial performance of the social media group, and revealed that Sam Altman, the OpenAI founder and CEO, is its third-largest shareholder, with an 8.7% stake. - Guardian
Water suppliers such as Thames Water are at risk of collapsing into administration if they are fined for bad behaviour, MPs have warned, potentially landing taxpayers with a multi-billion pound bailout bill. In a letter to Ofwat, the Environment, Food and Rural Affairs Committee indicated that the watchdog has been rendered powerless to crack down on misdemeanours because of suppliers' financial instability. - Telegraph
Telefonica has written down the value of its stake in Virgin Media O2 by €1.8bn (£1.5bn) as the telecoms company grapples with soaring debt costs. The Spanish mobile giant said it had booked a €1.8bn goodwill impairment in its 50pc stake in VMO2, blaming rising interest rates and "broader macroeconomic conditions in the UK". - Telegraph
Administrators for the collapsed battery factory project Britishvolt have said they are still chasing money from the Australian buyer of the site and are considering other potential deals. Recharge Industries is still "in default" a year after it agreed to buy the site in Cambois, Northumberland, where Britishvolt had previously said it wanted to build a factory, according to EY. - The Times
Share this article
Related Sharecast Articles
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.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
