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Thursday newspaper round-up: Travel chaos, National Grid, Essex traders

(Sharecast News) - Holidaymakers trying to get away for the Easter weekend have been warned they are likely to face disruption whether travelling by air, rail, road or sea. Staff sickness and a shortage of workers have already caused multiple days of chaos for air passengers, with carriers cancelling dozens of flights at short notice, while ferry operators have struggled to meet demand as P&O Ferries services remain suspended. - Guardian Rich countries need to provide emergency food supplies to prevent rising prices and shortages triggering social unrest in poorer parts of the world, the heads of four major international bodies have said. Calling for urgent and coordinated action, the World Bank, the UN World Food Programme, the World Trade Organization and the International Monetary Fund warned that the food crisis was pushing millions of people into poverty. - Guardian

National Grid may have to pay power generators to turn down their supply during the Queen's Platinum Jubilee celebrations as the public stops work and heads outside for street parties. Its division responsible for keeping the lights on is expecting power demand in Britain to dip to its lowest annual level during the four-day weekend created to mark the occasion, from June 2-5. - Telegraph

One of Britain's biggest train companies has been threatened with strike action after giving new "see-through" uniforms to its staff. Avanti West Coast has been accused by the RMT union of making workers wear "flimsy new blouses and shirts ... which are basically transparent". A source said that employees are considering strike action. - Telegraph

Messages between Essex-based oil traders said to have made more than $700 million from the 2020 oil price crash provide a "highly plausible inference" that they collectively moved to depress prices, a judge in the United States has ruled. Texts exchanged on April 20, 2020 - the day the US oil price collapsed below zero for the first time - prompted Gary Feinerman, a district court judge in Illinois, to rule that a class-action lawsuit could proceed against eight traders. - The Times

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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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