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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.

Wednesday newspaper round-up: NI hike, Amazon, Mumsnet

(Sharecast News) - Business groups reacted with dismay to the government's national insurance hike and surcharge on dividend income to boost health and social care spending from next April, calling it a tax on jobs and a blow to the economic recovery. The British Chamber of Commerce (BCC) said the extra financial burden from higher tax charges ignored the damage suffered by thousands of small businesses over the last 18 months. - Guardian Amazon's key UK business paid just £3.8m more corporation tax last year than in 2019, even as sales increased by £1.89bn. Accounts filed at Companies House this week show that the corporation tax contribution of Amazon UK Services - the group's warehouse and logistics operation, thought to employ the majority of the group's UK workforce - was £18.3m in the year to December 2020, up 26% from £14.5m a year before. - Guardian

Water companies have been allowed to cut back on sewage treatment chemicals after they became the latest victims of the UK's supply chain disruption. The Environment Agency told water companies that it was authorising "a temporary reduction in the dosage used to treat waste water". - Telegraph

Britain's best known parenting website has made its first acquisition in its 21-year history with the takeover of Mush, an app developed to help new mothers meet up in person. Mush was launched in 2016 by Katie Massie-Taylor, 38, and Sarah Hesz, 39, who met in a children's playground in Barnes, west London and came up with the idea of how to make it easier for new mothers to meet. The business was named after "what mums' brains sometimes feel like, what babies eat and an old slang term for friend". - The Times

Employers planned to make the fewest job cuts for seven years last month, suggesting that the end of the furlough scheme will not trigger a sharp rise in unemployment. Figures show that 12,687 jobs were earmarked for redundancy in August, down 11 per cent since July, according to the Insolvency Service. - 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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