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: Starling Bank, airlines, SFO, EDF

(Sharecast News) - Starling Bank has reported its first annual profit thanks to a surge in lending, though executives played down the impact that a controversial boom in Covid loans had on its path to profit. The chief executive and founder, Anne Boden, said the latest set of earnings were a "landmark" for the eight-year-old digital bank. Starling, which is backed by investors including Goldman Sachs and Austrian billionaire Harald McPike, swung to an inaugural annual profit of £32m for the year to March, from a loss of nearly £14m over the previous 12 months. - Guardian Airlines have been warned that they could face fines if they do not tackle "harmful practices" fuelling chaos at UK airports, including selling more tickets than they can supply and not warning passengers about the risk of cancellations. In an open letter, the aviation and competition watchdogs told carriers they could be penalised if they are shown to be contributing to the misery of passengers hit by this summer's widespread airport disruption. - Guardian

The embattled director of the Serious Fraud Office (SFO) has vowed to fight on after an official review laid bare "disastrous" mistakes in a major bribery investigation, and the third man jailed in the case had his conviction quashed. Lisa Osofsky, who was appointed in 2018, admitted that the findings of former High Court judge Sir David Calvert-Smith made a "sobering read" but that she intends to stay put and implement his recommendations. - Telegraph

Indian conglomerate Tata Group has threatened to shut Port Talbot steel works unless it is given a £1.5bn government lifeline to help reduce carbon emissions. The company's Tata Steel UK business, which owns the plant in South Wales, has been in talks with the Government about decarbonisation plans over the past two years, but those have now stalled. As one of Britain's largest industrial groups, Tata Steel UK is a huge emitter of carbon dioxide. - Telegraph

EDF is seeking to amend the controversial subsidy contract for its £26 billion Hinkley Point C nuclear plant so that it will not be penalised even if the plant does not start to generate power by 2030. Hinkley was supposed to start up in 2025 but EDF has pushed this back to mid-2027, primarily blaming Covid disruption, and warned of the risk of a further 15-month delay. - The Times

Share this article

Related Sharecast Articles

Thursday newspaper round-up: Elon Musk, The Body Shop, Telegraph
(Sharecast News) - Popular trader recommendation websites must vet the firms they advertise and tackle fake reviews under new rules designed to protect households from cowboy builders and tradespeople. Nationally, unscrupulous traders cost homeowners about £1.4bn a year, according to trading standards authorities, a problem that is escalating as demand for home improvements, loft conversions and extensions increases. - Guardian
Wednesday newspaper round-up: Four day working week, Post Office, Linklaters
(Sharecast News) - Campaigners for a four-day working week are preparing a new pilot project on flexible working in the hope that the Labour government will be more receptive to changes in how people work. The pilot project has opened to companies to sign up for a November start, with findings to be presented to the government in the summer of 2025. - Guardian
Tuesday newspaper round-up: Meta, EDF, Tesla
(Sharecast News) - Meta has claimed news is not the antidote to misinformation and disinformation spreading on Facebook and Instagram, as the company continues to push back against being forced to pay media companies for news in Australia. Meta announced in March it would not enter into new agreements with media companies to pay for news following the end of contracts signed in 2021 under the Morrison government's news media bargaining code. - Guardian
Monday newspaper round-up: Boeing, Tata Steel, Fortress Capital
(Sharecast News) - Boeing will plead guilty to a criminal fraud charge stemming from two deadly crashes of 737 Max jetliners, after the government determined the company violated an agreement that had protected it from prosecution for more than three years, the US the government said in court filing late on Sunday. Federal prosecutors gave Boeing the choice this week of entering a guilty plea and paying a fine as part of its sentence, or facing a trial on the felony criminal charge of conspiracy to defraud the US. - 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.