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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: National Express, Southend airport, pensions

(Sharecast News) - More than 3,000 National Express bus drivers in the West Midlands have voted to strike over pay, starting on 16 March, the same day as the next RMT train strike. The Unite union said members voted 96% in favour of industrial action, on a turnout of 72%. The workers will begin "all-out continuous" strike action on Thursday 16 March, the union said, with industrial action to carry on until the dispute is resolved. - Guardian Nobel Prize-winning economist Joseph Stiglitz declared almost a decade ago that 2014 "was the last year in which the United States could claim to be the world's largest economic power." It was, he claimed, the start of the "Chinese century". He was wrong: the US remains the world's largest economy. Yet experts keep predicting that China will soon become the preeminent global superpower, now believing that China's GDP will overtake America in the late 2030s. - Telegraph

Hooking up millions of electric vehicles, heat pumps and other devices to the UK's electricity grid could save up to £4.7bn a year by the end of this decade, the energy watchdog has predicted. Ofgem on Thursday set out proposals for how the electricity grid of the future could work, using technology to ensure infrastructure is used as efficiently as possible. - Telegraph

Esken, the listed company spun out of the old Eddie Stobart trucking business that plans to create a sixth London airport at Southend, has announced that it is to sell the empty site as well as other assets. The former Stobart Group changed its name to Esken, which means "arise" in old English, in an attempt to get away from a controversial past punctuated by High Court litigation. - The Times

An ambitious state-backed project intended to enable everyone in Britain to see all their pension arrangements on one screen has been delayed because of the complexity of connecting the first pension schemes. The government said yesterday that "additional time" was needed for pensions providers to meet the deadline of August 31 to connect to the central computer system of the "pensions dashboard programme". - The Times

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Sunday newspaper round-up: Hargreaves Lansdown, Crest Nicholson, Michael Kors
(Sharecast News) - Hargreaves Lansdown's three private equity suitors have until Wednesday to either table a formal bid for the investment platform or walk away. A £4.7bn offer presented in April was rejected. In particular, the bidders have been attracted by the firm's ability to deposit client cash at the Bank of England for a rate of 5.25%, whilst paying just 3% on a cash Isa of up to £10,000. That netted its £269m last year at no risk. - The Financial Mail on Sunday
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(Sharecast News) - The Financial Mail on Sunday's Midas column labelled shares of Oxford Instruments a "long-term buy".
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(Sharecast News) - The UK has seen an "explosion" in insecure, low-paid work in the past 14 years, according to a new report. The TUC said its study had found that the number of people in insecure work had reached a record high of 4.1 million. The analysis of official statistics shows the number of people in "precarious" employment - such as zero-hours contracts, low-paid self-employment and casual or seasonal work - increased by nearly 1 million between 2011 and 2023. - Guardian
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(Sharecast News) - Pensioners and people on disability benefits are the winners from radical changes to the welfare system made by the Tories over the last decade, while working-age families are losing out by thousands of pounds every year, according to a report by the Resolution Foundation. The Conservatives' 14-year overhaul of social security has shifted spending away from children and housing to supporting elderly people, and broken the link between entitlement and need for some of the poorest households in the country, the report says. - 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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