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Monday newspaper round-up: Rents,.Manufacturers, BAE Systems

(Sharecast News) - Residential rents across Britain are rising at their fastest on record as high interest rates shut would-be buyers out of the property market. Monthly rental costs are on average 12 per cent higher than they were this time last year, up £140 to breach £1,300 for the first time, according to the estate agent Hamptons. Separate research from the property website Rightmove suggests that more than a third of homes for sale have had their asking prices reduced as vendors try to drum up demand. - The Times Britain's manufacturers are "battening down the hatches" amid a sharp drop in activity, according to the latest quarterly data from Make UK, which represents manufacturers, and the business advisory firm BDO.Their manufacturing outlook survey shows that factory recruitment plans are weakening significantly for first time since the EU referendum in 2016, due to a slowdown in orders from domestic and overseas customers. Make UK has cut its forecast for 2023, predicting output will fall by 0.5% this year. - Guardian

The boss of defence contractor BAE Systems has opened the door to Saudi Arabia becoming involved in the UK's flagship fighter jet programme. Charles Woodburn, BAE's chief executive, said the kingdom can 'offer a lot' and had a talented workforce that could boost the project. Woodburn was speaking after it emerged that the Saudi government is pushing to become a full partner in the international global combat air programme. - Daily Mail

Home sellers are cutting asking prices at the highest rate in 12 years as mortgage rates hit buyer demand, new data shows. More than a third of homes had prices cut at least once in the four weeks to September 9, according to property website Rightmove, which was the largest share since January 2011. Those making reductions typically wiped £22,700 off their initial prices, a discount of 6.2pc. - Daily Telegraph

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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
Thursday newspaper round-up: Car production, UK retailers, water bills, KPMG
(Sharecast News) - The architect of a ban on newspaper takeovers by foreign states has demanded that an Abu Dhabi fund be forced to sell The Telegraph by Easter. Baroness Stowell, the Conservative chairman of the Lords communications and digital committee, said the Government should impose an ultimatum on RedBird IMI. It should be backed by the threat of regulatory action, she said, to strip the fund of control of what has been dubbed "the newspaper auction from hell". - Telegraph

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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