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.

Friday newspaper round-up: DP World, Rio Tinto, Boohoo

(Sharecast News) - The Dubai-based owner of P&O Ferries has lost its status as a formal partner in one of the government's biggest freeport projects, after widespread public anger over the firing without notice of 800 workers last month. Ministers have confirmed that DP World, the Emirati logistics giant behind P&O, no longer had a central role as a "partner" in the Solent freeport after the resignation of its UK commercial director from the scheme's board last week. - Guardian Rio Tinto has taken full control of an alumina refinery in which oligarchs Oleg Deripaska and Viktor Vekselberg hold stakes after the Australian government slapped sanctions on the pair and banned the export of bauxite products to Russia. The oligarchs have an interest in Queensland Alumina Limited through shareholdings in En+ Group, a London-listed resources company which owns the second-largest aluminium producer in the world, Rusal. - Guardian

Cheaper electricity will encourage households to charge their cars overnight and use their washing machines outside peak periods under plans to keep bills down during the drive for net zero. Ministers hope "time-of-use" tariffs enabling people to pay less for electricity when demand is low will be more widely adopted as part of a major overhaul of the energy system in coming years. - Telegraph

The boss of Boohoo has insisted that its new "model factory" will be a profitable production site rather than just a showroom as Debenhams, Dorothy Perkins and Wallis clothes are being made in the UK again after moving offshore almost three decades ago. Boohoo opened its first factory in Leicester in January, two years after the online retailer was engulfed in a scandal about the poor treatment of workers in the city's factories. The multimillion-pound site, a former VW garage on Thurmaston Lane, has been designed to show "best in class" standards, including training schemes for workers, who are paid above the minimum wage and are entitled to the same holidays and benefits as other Boohoo staff. - The Times

A British online car retailer has fallen deeper into the red after investing heavily in expansion and counting the cost of its stock market listing in New York last summer. Cazoo unveiled a sharp rise in annual revenues yesterday as it drove further into Europe's second-hand market, but it said that its pre-tax losses had widened to £549 million last year from £100 million in 2020. - The Times

Share this article

Related Sharecast Articles

Sunday newspaper round-up: Middle East, Aston Martin, Defence
(Sharecast News) - Britons must accept that their country was now involved in the Middle East conflict, Tobias Ellwood said. The former defence minister warned that "nobody was in full control" of the growing conflict as more and more countries were sucked in. Ellwood also said that Tehran's strike had taken the conflict into a "new dangerous territory". - Sunday Telegraph
Friday newspaper round-up: Everton, AstraZeneca, Amazon
(Sharecast News) - Everton has paid about £30m in interest charges to an opaque lender associated with a tax exile, corporate records suggest. The charges appear to have reached about £438,000 a week, according to the troubled Premier League club's most recent set of accounts, a figure more than three times the reported wages of the Everton and England goalkeeper Jordan Pickford. - Guardian
Thursday newspaper round-up: Border controls, McKinsey, KPMG
(Sharecast News) - New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson's Brexit deal could add 10% to import costs over the first year. - Guardian
Wednesday newspaper round-up: Shoplifting, EnQuest, Klarna
(Sharecast News) - The government is investing more than £55m in expanding facial recognition systems - including vans that will scan crowded high streets - as part of a renewed crackdown on shoplifting. The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being forced to wear a tag to ensure they do not revisit the scene of their crime, under a new standalone criminal offence of assaulting a retail worker. - 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.

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.