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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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(Sharecast News) - The UK government will "wait and see" whether tariffs announced by Donald Trump "actually come to pass", a senior minister said. The US president announced what he called "reciprocal tariffs" on all other countries on Thursday evening, claiming it was "fair to all". But it was unclear how this would apply to the UK, especially as Trump suggested his policy regarded VAT as a tariff. - Guardian
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(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
Wednesday newspaper round-up: British economy, Heathrow, FOS
(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - Guardian
Tuesday newspaper round-up: OpenAI, EVs, gas prices
(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - 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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