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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: Rogue landlords, gas network bosses, electric cars

(Sharecast News) - Rogue landlords are conning the government out of millions of pounds by fraudulently claiming housing benefits for so-called "ghost tenants", it has been revealed. Criminal gangs are among those buying cheap property to convert into housing for vulnerable people, in some cases claiming welfare payments for tenants who do not live there. - Guardian A cryptocurrency investment firm with links to two all-party parliamentary groups (APPGs) appears to have disappeared, leaving some investors fearing they have lost tens of thousands of pounds and raising the prospect of further questions being asked about the role of APPGs in parliament. Phoenix Community Capital established itself last year as a cryptocurrency project and investment scheme, which it said at one point was valued at $800m (£665m). It was a sponsor of one APPG, and its co-founder, Luke Sullivan, spoke at an event for a second APPG , as well as appearing as a panellist for events hosted by peers in parliament. - Guardian

Gas network bosses have accused peers of making unevidenced claims about the use of hydrogen for heating, as they warned ministers that heat pumps will never be viable for millions of British households. In a letter to ministers, the chief executives of five gas network companies hit back at a House of Lords committee which claimed that using hydrogen to heat homes was "not a serious option". - Telegraph

A biotechnology business that focuses on cancer and fibrotic disease treatments has become the latest company to set out a plan to abandon the London stock market after unveiling a £353 million reverse takeover of a US rival. Redx Pharma announced yesterday that it had agreed to an all-share merger with Jounce Therapeutics, a struggling cancer immunotherapy business in Massachusetts. - The Times

The shift to electric cars has continued with combined battery-electric, plug-in hybrid and hybrid electric vehicle production in January rising by almost 50 per cent compared with a year ago. The latest figures from the Society of Motor Manufacturers and Traders show that the total number of electric or hybrid vehicles produced was 28,329, representing more than four in every ten cars made in January, a near-record monthly share. - The Times

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Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - Guardian
Wednesday newspaper round-up: Thames Water, Johnson & Johnson, BoE
(Sharecast News) - Thames Water may need as much as £10bn in debt and equity investment to repair its finances, according to a representative of creditors hoping to lend the struggling utility another £3bn. London's high court heard evidence on Tuesday that suggested the UK's largest water company may need significantly more resources than the roughly £6.3bn it has previously indicated. - Guardian
Monday newspaper round-up: Zero-hours contracts, Barclays, Asos
(Sharecast News) - Hundreds of thousands of British workers are on zero-hours contracts despite being with the same employer for years, according to analysis from the TUC. The majority of zero-hours contract workers have been with their employer for more than 12 months, while one in eight have not been granted regular employment rights after more than a decade working in the same place, the organisation said. - Guardian
Friday newspaper round-up: Apple, Daily Mail, OpenAI, Homebase
(Sharecast News) - Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at $124.30bn, barely above estimates of $124.12bn. Earnings per share were $2.40, just ahead of analysts' expectations of $2.35. Shares rose more than 8% in extended trading after CEO Tim Cook indicated in an earnings call on Thursday that Apple is on the trajectory for revenue growth next quarter. - 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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