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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.

Thursday newspaper round-up: Furlough, Pret a Manger, PwC

(Sharecast News) - The TUC is urging the government to abandon plans to scrap the furlough scheme at the end of next month and instead build on the wage subsidy experiment to create a permanent short-time working scheme. Plans drawn up by the TUC would protect workers against recessions, a new wave of the pandemic or the transition to a green economy by having 80% of their wages guaranteed by the state. - Guardian Pret a Manger staff are considering strike action after the coffee shop chain told them it was permanently cutting pay despite the easing of trading restrictions. The workers, the vast majority of whom earn basic pay of the legal minimum £8.91 an hour, were told they would temporarily not be paid for breaks and a service bonus would be ditched in July last year after the pandemic hit. - Guardian

Travel Covid test costs should be capped at £40, MPs have told the Government amid a growing Tory backlash against the charges. Senior Conservative MPs are calling on Sajid Javid, the Health Secretary, to take immediate action to end "rip-off" prices of PCR tests that still average £75 per person and risk turning foreign holidays into the "preserve only of the wealthy". - Telegraph

The boss of PwC has said employers have a responsibility to get their staff back into offices as the professional services firm reported a record annual profit of almost £1.2 billion during a year in which its employees have mostly been working from home. Kevin Ellis, chairman of PwC in Britain, where the company employs 22,000 people, said: "There's an economic need for me to encourage my people to work from the office for two or three days a week. - The Times

Regions in Britain with a flourishing tourism industry have already regained the losses their labour market suffered from the Covid-19 crisis, but big cities including London are still struggling, a new report suggests. Although the jobs market has been resilient to the economic downturn thanks in part to large fiscal support, some parts of the country have suffered more acutely than others. The Resolution Foundation think tank said that areas with high average salaries, typically in London, had been at the sharp end of the downturn. - 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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