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: GFG Alliance, Apple, FinnCap, M&S

(Sharecast News) - Sanjeev Gupta's GFG Alliance has sold two aluminium parts factories after Jaguar Land Rover (JLR) stepped in to secure a vital part of its supply chain. Evtec, an automotive supplier based in Coventry, will take over Liberty Aluminium Technologies casting plants in Coventry and Kidderminster in the West Midlands, saving 170 jobs. However, GFG is closing a site in Witham, Essex, with the loss of 64 jobs. - Guardian Apple is stepping up its plans to enter the car market and aims to launch a self-driving electric vehicle in 2025, according to a report. The tech company's much-rumoured automotive project has bolstered its ambitions under new leadership and is pushing for a fully self-driving vehicle with no steering wheel or pedals, said Bloomberg. The car's interior would be designed for hands-off driving, with one possible design featuring passengers sitting around a U-shaped seating formation. - Guardian

Zia Chishti, the founder of Princess Beatrice's technology company Afiniti, resigned on Thursday night two days after a former employee accused him of violent sexual assault. Following a crunch board meeting, directors said Mr Chishti had "stepped down from his role as chairman, chief executive officer, and director of Afiniti, effective immediately". - Telegraph

A City broker will offer unlimited paid time off in an effort to help its staff to avoid burnout. FinnCap has set out the plan for its 155 employees to try to make a significant improvement to working conditions and in recognition of heightened demands from clients because of volatile capital markets, Bloomberg reported. - The Times

The chairman of Marks & Spencer warned that trade in Northern Ireland could become an "operational nightmare" and that the burden of red tape would be increased by concessions from Brussels. Archie Norman has written to Lord Frost, the Cabinet Office minister, saying that European Commission plans could result in "worsening friction and cost and a high level of ambiguity and scope for dispute". - The Times

Share this article

Related Sharecast Articles

Tuesday newspaper round-up: Meta, British businesses, Eurowag
(Sharecast News) - Rachel Reeves has instructed cabinet colleagues to award government contracts in four critical industries directly to British companies, making clear her irritation that ministers have been sending too much government business abroad. In a letter seen by the Guardian, the chancellor tells every cabinet minister in charge of a spending department to "buy British" wherever possible, adding that she is disappointed they are not already doing so. - Guardian
Friday newspaper round-up: Cancelled govt projects, oil and gas tax raid, recession risk
(Sharecast News) - Cancelled government projects such as the Rwanda deportation scheme and the road tunnel under Stonehenge are wasting billions of pounds of taxpayer money a year, parliament's spending watchdog has found. About £6.6bn was written off by government departments last year alone - state spending that did not achieve its intended objectives or create any value for the taxpayer, the public accounts committee said. - Guardian
Thursday newspaper round-up: Jeff Bezos, JLR, OpenAI
(Sharecast News) - Rachel Reeves is to promise free summer bus rides for children and cut tariffs on some food imports, as part of a package of measures aimed at easing the costs of the Iran conflict. The chancellor will give a statement in the House of Commons on Thursday, outlining her latest plans for cushioning the blow to consumers from an expected rise in inflation later this year. - Guardian
Wednesday newspaper round-up: Shell, Berkeley, Deutsche Bank
(Sharecast News) - The cost of the government's £38bn nuclear plant in Suffolk is subject to "significant uncertainty" and may outweigh the benefits for UK households until at least 2064, according to the government's spending watchdog. The National Audit Office (NAO) has warned that although the potential benefits of the Sizewell C nuclear plant are considerable, they remain uncertain. The risks, however, are "immediate, substantial and borne by the public". - 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.