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: Jes Staley, offshore wind farm, Mexico

(Sharecast News) - The former chief executive of Barclays Jes Staley allegedly stayed in contact with Jeffrey Epstein long after joining the UK bank, according to legal documents that reportedly contradict claims he cut ties with the convicted child sex offender and disgraced financier in 2015. Documents from a now-settled lawsuit, seen by Bloomberg News, allegedly suggest that the two men used an unnamed third person, who "acted as an intermediary for messages between Staley and Epstein", to stay in contact after Staley took over as chief executive of Barclays in December 2015. - Guardian A leading business lobby group has urged Jeremy Hunt to resist calls for large-scale tax cuts in his budget next month, saying the government needs to avoid "short-termism" and devote spending to projects that boost the economy. Adding its voice to a growing clamour for green investment, the Confederation of British Industry said pre-election giveaways at the budget should be kept to a minimum to allow for a surge in spending to achieve net zero. - Guardian

Britain's biggest offshore wind farm is facing a year-long delay to its completion because of a chronic shortage of construction ships. The Dogger Bank site has suffered from significant disruption because of bad weather, storms and a lack of vessels able to build it according to its developer, the power company SSE. - Telegraph

Britain's working-age benefits bill will hit £100bn for the first time this year amid a surge in disability claims since lockdown. The cost of welfare payments including universal credit, housing subsidies and disability benefit is expected to jump by almost 30pc in real terms to £130bn by the end of the decade, according to forecasts published by the Department for Work and Pensions (DWP). - Telegraph

Mexico has overtaken China as the biggest exporter to America for the first time in 20 years as geopolitics and "friend-shoring" redraw global trade patterns. Mexico exported $475 billion of goods to the US in 2023, a 5 per cent increase on the year, while the value of Chinese exports fell 20 per cent to $427 billion, according to the US Department of Commerce. - The Times

The billionaire family behind Primark and Fortnum & Mason has paid itself £36.9 million in dividend payments after profits across its portfolio grew last year. Wittington Investments, the Weston family's investment vehicle, handed out £128 million in dividends last year, beating the previous payout of £104 million. - The Times

Share this article

Related Sharecast Articles

Monday newspaper round-up: Renewable energy, BlackRock, Frasers Group
(Sharecast News) - A development company that sells off land no longer needed by Thames Water has paid out a £14m dividend despite warnings that it could become engulfed by the water group's financial woes. Accounts filed at Companies House show Kennet Properties paid out a £14.5m dividend in the year to 31 March 2023 despite the difficulties faced by the wider group, which is facing going into administration. - Guardian
Sunday share tips: Mitie, Costain
(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of Mitie to its readers, highlighting it shift from facilities management to facilities transformation.
Sunday newspaper round-up: IDS, Ocado, Foxtons
(Sharecast News) - Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian
Friday newspaper round-up: Thames Water, Netflix, consumer confidence
(Sharecast News) - "Misleading" and "inconsistent" labels make it hard for shoppers to know where their food comes from, the consumer champion Which? has said, as it found supermarket chains were selling products with "meaningless" statements on their packaging. Retailers must supply the "country of origin" for specific foods including fresh fruit and vegetables, unprocessed meats, fish, wine and olive oil but the rules do not generally apply to processed meat or frozen or processed fruit and vegetables. - 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.