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Friday newspaper round-up: Apple, Amazon, energy bills

(Sharecast News) - People from working-class backgrounds employed in professional careers earn £6,000 less compared to those from other backgrounds in the same jobs, findings from the Social Mobility Foundation show, underscoring the UK's "shameful" class pay gap. Professionals from poorer upbringings face an average salary of £45,437 - 12% lower than the £51,728 for people from more affluent origins - in research based on quarterly Labour Force Surveys from 2014 to 2022. - Guardian Apple plans to adopt a messaging standard that will allow for a smoother texting experience between iPhones and Android devices, long a point of contention with rival Google. For years, Apple has refused to make its products play nice with devices not designed under its roof, a dynamic exemplified in the green background that is the hallmark of iPhone-to-Android chats. - Guardian

Amazon will start selling cars online from next year, the retail giant has announced. Customers in the United States will be able to choose, customise and buy a vehicle and schedule delivery through a local dealer. Marty Mallick, Amazon's vice-president, said the move was aimed at "changing the ease with which customers can buy vehicles online". - Telegraph

Business leaders and trade bodies from across the UK have called on the chancellor to provide a permanent tax break for investment in next week's autumn statement. In a letter to Jeremy Hunt, almost 100 chief executives and directors of companies including Siemens, Nissan and Astrazeneca urged the government to announce a full expensing regime for companies beyond the current three years, which they say would have a "transformational impact on business investment and growth". - The Times

Energy bills will rise by 5 per cent or almost £100 a year from January after the Israel-Hamas war and industrial action in Australia pushed up gas prices, leading analysts have warned. A household with typical consumption will pay an average of £1,931 a year under the energy price cap from January 1, up from £1,834 at present, according to final forecasts from the consultancy Cornwall Insight. That increase will reverse most of the drop in prices in October when Ofgem last updated the level of the cap, which limits gas and electricity tariffs for most households in Britain. - The Times

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Wednesday newspaper round-up: Amazon, dividends, Weardale Lithium
(Sharecast News) - Amazon profits soared once again in the first quarter of 2024, the company announced on Tuesday - the latest in a series of robust earnings reports for the retail giant. The company attributed the boost to artificial intelligence and advertising sales. Amazon reported overall revenue of $143.3bn in the first three months of the year - up 13% from the same period in 2023 and surpassing Wall Street expectations of $142.65bn. The e-commerce giant reported an increase of more than 200% to $15bn, with net income more than tripling to $10.4bn from $3.17bn at the same time in 2023. - Guardian
Tuesday newspaper round-up: Meta, ExxonMobil, Very Group
(Sharecast News) - The Federal Communications Commission on Monday fined the largest US wireless carriers nearly $200m for illegally sharing access to customers' location information. The FCC is finalizing fines first proposed in February 2020, including $80m for T-Mobile; $12m for Sprint, which T-Mobile has since acquired; $57m for AT&T, and nearly $47m for Verizon. - Guardian
Monday newspaper round-up: Thames Water, Brexit, Babylon
(Sharecast News) - Senior Whitehall officials fear Thames Water's financial collapse could trigger a rise in government borrowing costs not seen since the chaos of the Liz Truss mini-budget, the Guardian can reveal. Such is their concern about the impact on wider borrowing costs for the UK, even beyond utilities and infrastructure, that they believe Thames should be renationalised before the general election. Officials in the Treasury and the UK's Debt Management Office fear that, unless the UK's biggest water company is renationalised as soon as possible, "prolonged uncertainty" about its fate could "damage confidence in UK plc at a sensitive time", with elections in the UK and the US later this year. - Guardian
Sunday share tips: Centrica, Lancashire Holdings
(Sharecast News) - The Sunday Times's Lucy Tobin told her readers to book their profits in Centrica and 'sell'.

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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