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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: 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 Aircraft could one day take off on fuel made from human waste under plans revealed by Wizz Air and the British sustainable aviation company Firefly to build a commercial refinery in Essex. Firefly, based in Bristol, said it had developed a process to convert treated sewage into sustainable aviation fuel, or SAF. - Guardian

AstraZeneca has suffered an investor backlash over a £19m pay award for its chief executive, in a vote that will deepen concerns of an exodus of UK companies to the US. Around 35pc of investors voted to reject AstraZeneca's remuneration report and changes to its bonus plan at the company's AGM on Thursday. The changes increase chief executive Pascal Soriot's total reward package to £18.7m. His remuneration was up from £16.9m in the prior year, which already made the French-born executive the highest paid boss on the FTSE 100. - Telegraph

Annual profits at the City fund management firm co-founded by Sir Jacob Rees-Mogg, the Conservative MP, more than halved last year before client withdrawals forced the business to wind itself down. Latest accounts filed by Somerset Capital Management at Companies House show that net profits at the business fell to less than £3.1 million in the 12 months to the end of March last year, from almost £6.5 million in 2022. - The Times

Shares in Amazon closed at a new record high as the stock market value of the world's biggest online retailer edged closer to $2 trillion. At the end of trading on Wall Street, its stock price had risen $3.10, or 1.7 per cent, to $189.05, compared with its previous high of $186.57 on July 8, 2021, giving it a market capitalisation of $1.97 trillion. The rise in Amazon shares yesterday helped the Nasdaq Composite index to close at its sixth record high of the year so far with a gain of 271.84 points, or 1.7 per cent, to 16,442.20. - The Times

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Friday newspaper round-up: Income tax, Ineos, Virgin Atlantic
(Sharecast News) - Rachel Reeves is set to abandon a plan to raise income tax in her budget with the chancellor reportedly "ripping up" the main measures in the wake of turmoil in the party. A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the prime minister, Keir Starmer, and the chancellor. - Guardian
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(Sharecast News) - Rachel Reeves has been urged to abolish the "sin tax" of stamp duty in the budget by property experts including TV presenter Kirstie Allsopp, as the chancellor faced calls to replace it with an annual property tax. Allsopp, presenter of Channel 4 property shows including Location, Location, Location, said "people are in a panic" about potential stamp duty changes, and "sitting tight" ahead of the 26 November budget. - Guardian
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(Sharecast News) - Renewables will grow faster than any major energy source in the next decade, according to the world's energy watchdog, making the transition away from fossil fuels "inevitable", despite a green backlash in the US and parts of Europe. The world is expected to build more renewable energy projects in the next five years than has been rolled out over the last 40, according to the flagship annual report from the International Energy Agency (IEA). - Guardian
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(Sharecast News) - The Gambling Commission has demanded a UK bookmaker hand over a trove of financial documents after the company accidentally disclosed information suggesting it may be running an illegal offshore betting operation. The Guardian understands that the company, which sponsors sporting events and boasts connections to high-profile figures in sport and politics, is the subject of early inquiries that could lead to a full-blown investigation. - 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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