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Monday newspaper round-up: Entain, rail tickets, Rolls-Royce

(Sharecast News) - The owner of Ladbrokes, Entain, has been accused of "dishonest" lobbying after it funded an operation mobilising people to complain to their MP about proposals to change gambling laws. The government last month unveiled plans for tighter regulation, including measures it said would make gambling safer but would also reduce revenue for brands such as Coral and PartyCasino, owned by Entain. - Guardian The cheapest rail tickets can no longer be bought from all station booking offices, as passengers are forced to use machines or shop online for the best fares. Rail bosses have begun barring ticket office staff from selling advanced fares, in a reversal of reforms designed to make it easier for passengers to buy the cheapest tickets. - Telegraph

Britain's tax system is riddled with "perverse" incentives and punishing levies that must be reformed to make work pay, the head of a powerful parliamentary committee has warned. Harriett Baldwin, Conservative chairman of the Treasury Select Committee (TSC), said "horrible cliff edges" in the current system had left many questioning whether an extra hour of work was worth it. - Telegraph

The new chief executive of Rolls-Royce has delivered another damning critique of its performance, saying that one of its core divisions has been "grossly mismanaged". Tufan Erginbilgic, 63, took the top job at the aerospace and engineering group at the start of this year and weeks later infamously described the group as a "burning platform". In his latest broadside, the former BP executive took aim at the performance of its power systems division, which makes diesel and gas engines for use in superyachts, trains and mining lorries, and for back-up power generation. - The Times

The owner of Wagamama is facing pressure to split itself up, with its embattled management team expected to be questioned about pay and performance at the annual meeting this week. TMR Capital has become the latest investor to call for an overhaul of The Restaurant Group, after taking a small stake this month. The Florida-based hedge fund has approached the group, which also owns Brunning & Price, Frankie & Benny's and Chiquito, with proposals to sell off all its businesses except Wagamama, according to The Sunday Telegraph. The fund wants the group to expand Wagamama before taking it private in a sale. - The Times

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Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - Guardian
Sunday newspaper round-up: Etihad float, Shein, Thames Water
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Friday newspaper round-up: Gambling sector, FOS, Amazon
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
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

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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