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Friday newspaper round-up: Drax, X, Lord Saatchi

(Sharecast News) - The Drax power station was responsible for four times more carbon emissions than the UK's last remaining coal-fired plant last year, despite taking more than £0.5bn in clean-energy subsidies in 2023, according to a report. The North Yorkshire power plant, which burns wood pellets imported from North America to generate electricity, was revealed as Britain's single largest carbon emitter in 2023 by a report from the climate thinktank Ember. - Guardian A global advertiser alliance has discontinued its corporate responsibility program after a lawsuit from Elon Musk's X accused the group of orchestrating a "massive advertiser boycott". The World Federation of Advertisers (WFA) told members on Thursday that it would shut down the Global Alliance for Responsible Media (Garm) following legal attacks from X, formerly Twitter, according to Business Insider, which first reported the news. Garm is a not-for-profit initiative within the WFA that helps brands avoid advertising alongside or monetizing harmful content. - Guardian

Advertising tycoon Lord Saatchi's bid for The Telegraph has been rejected after the Abu Dhabi fund selling the newspaper said it was not a serious offer. Lord Saatchi tabled an indicative £350m bid alongside Lynn Forester de Rothschild, a former director of The Economist Group. However, his approach has not made it through to the second round of an auction, which is being overseen by bankers at Robey Warshaw and Raine Group. - Telegraph

The Universities Superannuation Scheme sold its entire £80 million holding of Israeli bonds between February and July this year. Britain's biggest private sector pension scheme said the decision to sell all its Israeli government bonds had been taken on financial grounds alone and was not the result of a move to completely divest from the country. - The Times

News Corporation beat Wall Street expectations for fourth-quarter revenue after growth in subscriptions at Dow Jones and a rise in sales generated from digital real estate services. Revenue at the media company, which owns publications including The Times and The Sunday Times, The Wall Street Journal, The Sun and The Australian, increased by 6 per cent to $2.58 billion in the three months to the end of June, ahead of analysts' estimates. - The Times

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Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - Guardian
Wednesday newspaper round-up: Thames Water, Johnson & Johnson, BoE
(Sharecast News) - Thames Water may need as much as £10bn in debt and equity investment to repair its finances, according to a representative of creditors hoping to lend the struggling utility another £3bn. London's high court heard evidence on Tuesday that suggested the UK's largest water company may need significantly more resources than the roughly £6.3bn it has previously indicated. - Guardian
Monday newspaper round-up: Zero-hours contracts, Barclays, Asos
(Sharecast News) - Hundreds of thousands of British workers are on zero-hours contracts despite being with the same employer for years, according to analysis from the TUC. The majority of zero-hours contract workers have been with their employer for more than 12 months, while one in eight have not been granted regular employment rights after more than a decade working in the same place, the organisation said. - Guardian
Friday newspaper round-up: Apple, Daily Mail, OpenAI, Homebase
(Sharecast News) - Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at $124.30bn, barely above estimates of $124.12bn. Earnings per share were $2.40, just ahead of analysts' expectations of $2.35. Shares rose more than 8% in extended trading after CEO Tim Cook indicated in an earnings call on Thursday that Apple is on the trajectory for revenue growth next quarter. - 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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