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.

Monday newspaper round-up: Thames Water, rail passengers, house prices

(Sharecast News) - One of Thames Water's big shareholders has given its backing to the embattled water company, after the surprise departure of its chief executive and crisis talks with the government over its viability. Thames Water, which is buckling under a £14bn debt burden and has embarked on an eight-year turnaround plan, is owned by a series of pension funds and other governments' sovereign wealth funds. The second-biggest shareholder is a UK pension fund for academics, the Universities Superannuation Scheme (USS), which holds about 20% and is the first investor to make public its support for the company. - Guardian Rail passengers across Britain have been warned to expect disruption this week as train drivers stage fresh industrial action. The drivers' union Aslef has called an overtime ban from Monday 3 July until the end of Saturday 8 July at 16 train operators around England, in a long-running dispute over pay and conditions on the railway. - Guardian

Banks are to be told by the Treasury that they must protect free speech amid an escalating row over the blacklisting of customers who hold controversial views. Jeremy Hunt, the Chancellor, is understood to be "deeply concerned" that overzealous lenders are closing down accounts because they disagree with customers' opinions and has asked City minister Andrew Griffith to investigate the issue. - Telegraph

Property sellers are being forced to slash their asking prices in droves as the housing market struggles under the weight of surging borrowing costs. A third of all homes for sale in the fourth week of June were listed with discounts on their asking prices - up from 18pc in the same week a year earlier and even higher than during the Covid crisis, according to property website Rightmove. - Telegraph

A top-ten accountancy firm has become the first in the UK to win investment backing from private equity and retain its partnership structure, in a landmark move that could pave the way for an influx of capital into the professional services sector. Moore Kingston Smith (MKS) will receive an undisclosed amount from the Dutch private equity group Waterland, which will become a financial partner. It is the first time a UK limited liability partnership has attracted backing from international investors while maintaining its legal structure. - The Times

Manufacturers boosted jobs in six of the eight regions in England and Wales last year as the struggling sector battled with labour shortages. Figures from Make UK, an industry body, and the professional services firm BDO showed that there were still 74,000 unfilled vacancies in the sector, creating a £6.5 billion economic gap that needed filling despite overall employment increasing last year. - The Times

Share this article

Related Sharecast Articles

Monday newspaper round-up: Renewable energy, BlackRock, Frasers Group
(Sharecast News) - A development company that sells off land no longer needed by Thames Water has paid out a £14m dividend despite warnings that it could become engulfed by the water group's financial woes. Accounts filed at Companies House show Kennet Properties paid out a £14.5m dividend in the year to 31 March 2023 despite the difficulties faced by the wider group, which is facing going into administration. - Guardian
Sunday share tips: Mitie, Costain
(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of Mitie to its readers, highlighting it shift from facilities management to facilities transformation.
Sunday newspaper round-up: IDS, Ocado, Foxtons
(Sharecast News) - Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian
Friday newspaper round-up: Thames Water, Netflix, consumer confidence
(Sharecast News) - "Misleading" and "inconsistent" labels make it hard for shoppers to know where their food comes from, the consumer champion Which? has said, as it found supermarket chains were selling products with "meaningless" statements on their packaging. Retailers must supply the "country of origin" for specific foods including fresh fruit and vegetables, unprocessed meats, fish, wine and olive oil but the rules do not generally apply to processed meat or frozen or processed fruit and vegetables. - 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.