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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: Tariffs, UK gas plants, xAI
(Sharecast News) - Donald Trump is threatening to keep 25% tariffs on some or all of its steel imports from the UK unless it gives specific guarantees over the Indian-owned steelmaking plant at Port Talbot in south Wales, sources have told the Guardian. An agreement to reduce tariffs on UK car exports to the US and scrap them for the aerospace sector was signed off by the US president and Keir Starmer on Monday, on the sidelines of the G7 summit in Canada. - Guardian
Tuesday newspaper round-up: UK-US trade deal, Oxford Street, TSB
(Sharecast News) - Keir Starmer and Donald Trump have signed off a UK-US trade deal at the G7 summit in Canada, with the US president saying Britain would have protection against future tariffs "because I like them". The two leaders presented the deal, which covers aerospace and the auto sector, at the G7 venue in Kananaskis, Alberta. - Guardian
Tuesday newspaper round-up: UK-US trade deal, Oxford Street, TSB
(Sharecast News) - Keir Starmer and Donald Trump have signed off a UK-US trade deal at the G7 summit in Canada, with the US president saying Britain would have protection against future tariffs "because I like them". The two leaders presented the deal, which covers aerospace and the auto sector, at the G7 venue in Kananaskis, Alberta. - Guardian
Monday newspaper round-up: Ofwat, Fortnum & Mason, British manufacturers
(Sharecast News) - Bonuses and dividends for water company bosses and shareholders should be approved by the regulator before they are paid, as billpayer funds are being used irresponsibly, MPs have said. They also recommended that the government consider ending the profit-driven water company model and making English companies non-profit, similar to how the system works in Wales, in the report by the Environment, Food and Rural Affairs (Efra) select committee. - Guardian

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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