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Friday newspaper round-up: Post Office, Boeing, Tesla

(Sharecast News) - The former UK boss of Fujitsu, the technology firm whose flawed IT system is at the heart of the Post Office Horizon scandal, received a £2.6m payoff after standing down from the company in 2019, corporate filings suggest. Fujitsu has come under increasing scrutiny during the public inquiry into the Horizon scandal, which led to thousands of people who owned and ran smaller post offices being falsely accused or convicted of theft or fraud between 1999 and 2015. - Guardian Boeing is facing a formal investigation into whether it made sure 737 Max 9 planes were "in a condition for safe operation" after a cabin panel blew off during an Alaska Airlines flight. "This incident should have never happened, and it cannot happen again," the Federal Aviation Administration said, announcing an investigation into whether the planemaker "failed to ensure" the jets complied with safety regulations. - Guardian

Out of stock. Those words may be coming back to haunt shoppers just as it appeared that supply chains were beginning to go back to normal. The boss of shipping giant Maersk warned on Thursday that the "brutal and dramatic" disruption to shipping through the Red Sea caused by Houthi rebel attacks could last for months, raising fears of price rises and empty shelves. - Telegraph

The UK boss of EY, who backed the now-abandoned scheme to split up the professional services group, has been granted another extension to his tenure, allowing him to continue to run the Big Four firm well beyond its mandatory retirement age. Most EY partners are required to step down when they reach 60, but Hywel Ball, 61, has received a one-year extension allowing him to continue in his role until June 2025, when he will be almost 63. - The Times

Tesla last night suspended most car production at its factory near Berlin, citing a lack of components caused by shifts in transport routes because of attacks on vessels in the Red Sea. The American maker of electric cars, which will restrict output in Germany between January 29 and February 11, said that "the armed conflicts in the Red Sea and the associated shifts in ­transport routes between Europe and Asia via the Cape of Good Hope" were leading to "considerably longer transportation times are creating a gap in supply chains". - The Times

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(Sharecast News) - The UK government will "wait and see" whether tariffs announced by Donald Trump "actually come to pass", a senior minister said. The US president announced what he called "reciprocal tariffs" on all other countries on Thursday evening, claiming it was "fair to all". But it was unclear how this would apply to the UK, especially as Trump suggested his policy regarded VAT as a tariff. - Guardian
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(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
Wednesday newspaper round-up: British economy, Heathrow, FOS
(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - Guardian
Tuesday newspaper round-up: OpenAI, EVs, gas prices
(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - Guardian

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