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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: Boohoo, Asda, Eli Lilly

(Sharecast News) - The founders of fast fashion retailer Boohoo.com doubled their pay to about £1m each last year as they were handed hefty bonuses despite missing financial targets. Directors decided that both Carol Kane and Mahmud Kamani deserved bonuses equivalent to their annual basic salary - instead of the 30% they had been due to receive after missing sales and underlying profit targets. - Guardian Asda is finalising a deal to buy its sister business EG Group's UK and Irish petrol forecourts in a deal worth £3bn, allowing the supermarket to step up its shift into convenience retailing. The businesses are expected to formally announce a long-awaited tie-up in the next few days, which will create a combined business worth about £10bn. - Guardian

Asos, the struggling online retailer, is raising £75 million in cash from shareholders and has refinanced in an effort to strengthen its balance sheet. The fundraising announced last night is fully underwritten by three shareholders, including the investment vehicle of Bestseller, owned by Anders Povlsen, the Danish businessman. - The Times

One of the world's biggest drugs companies has suspended a potential investment in Britain because of the country's "stifling commercial environment". Eli Lilly, the American multinational, had been looking to invest in laboratory space, but it has put its plans for London on hold because, it said, the UK "does not invite inward investment at this time". - The Times

Twitter's head of engineering has announced his departure from the social media platform, having decided to resign on the day of Ron DeSantis' car-crash presidential launch alongside Elon Musk. Foad Dabiri announced on Twitter that he decided on Wednesday to "leave the nest" nearly four years after he joined the company in 2019. Mr Dabiri described his role on LinkedIn as "engineering lead for Twitter's growth organisation". - Telegraph

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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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