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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.

Tuesday newspaper round-up: Energy support, chatbots, Hyve

(Sharecast News) - Some of the UK's least well-off households could be left more than £200 worse-off on their energy bills this year because of reduced government support, the consumer body Which? has warned. Joining calls made by other campaigners, it said the government urgently needed to introduce a "social tariff" for gas and electricity to protect the most financially vulnerable. - Guardian Britain's data watchdog has issued a warning to tech firms about the use of people's personal information to develop chatbots after concerns that the underlying technology is trained on large quantities of unfiltered material scraped from the web. The intervention from the Information Commissioner's Office came after its Italian counterpart temporarily banned ChatGPT over data privacy concerns. - Guardian

Bickering in Brussels is threatening to inflict queues and disruption on British holidaymakers for years to come by derailing the rollout of new technology that would speed up passport checks. The European Union has been hit by opposition from member states over the development of a new app for border crossings by non-EU citizens. - Telegraph

A shareholder revolt against a £481 million private equity takeover of Hyve is being led by M&G Investments, which claims that it significantly undervalues the international exhibition company. Hyve announced last month that it had agreed to a 108p-a-share takeover offer from Providence Equity Partners after the media-focused US investor had initially offered 101p, then 105p. - The Times

Some savers with Phoenix Life have been unable to withdraw their funds since Friday because the company's systems were serviced by Capita, the hacked outsourcer. Chris Johnson, a customer who contacted The Times, reported that he was advised by a Phoenix Life call handler that he could not cash in his pension because of the technical issues and should ring back "in a few days", with no estimated timeframe for when normal services would resume. - 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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