Skip Header
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.

Wednesday newspaper round-up: Food security, Tesla, furlough

(Sharecast News) - Farmers have accused the government of failing to listen to their warnings over the future of domestic food production, after concerns ministers would not increase the number of seasonal worker visas next year. The criticism came at a summit convened by the National Farmers' Union (NFU) and attended by the environment minister, George Eustice, where food producers, processors and retailers urged government to fix supply chains to ensure food security. - Guardian

The biggest taxi firm in Paris said it was suspending the use of Model 3 Teslas in its fleet after a fatal accident in the French capital at the weekend. A driver lost control of his Tesla on Saturday night in the southeastern 13th district of Paris, killing one person and injuring 20, with three people in intensive care. Paris prosecutors on Saturday opened an investigation into the incident. - Guardian

Rishi Sunak must be ready to bring back the furlough scheme to save shops and restaurants, the International Monetary Fund has warned as the spread of the omicron variant threatens further restrictions on the economy. The international financial stability watchdog said the Chancellor should be ready to reintroduce targeted measures to limit the economic damage from any new rules. Whitehall officials are reportedly considering a "plan C" including mandating table service in pubs to ensure social distancing. - Telegraph

The City regulator gave a "free pass" to banking misconduct when it "wrongly" excluded about 10,000 businesses from a redress scheme for the mis-selling of interest rate hedging products, an independent review has found. John Swift QC concluded that the Financial Services Authority failed in its duties when it implemented an eligibility cap for victims of the scandal. - The Times

The energy watchdog is to apply more stringent checks on electricity and gas suppliers as part of a reform package designed to prevent a repeat of the crisis engulfing the industry. Jonathan Brearley, chief executive of Ofgem, said providers would be subject to "robust stress testing", with executives also placed under greater scrutiny. He wrote in the Financial Times that the watchdog would use more sophisticated data analysis. - The Times

Share this article

Related Sharecast Articles

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.