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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.

Monday newspaper round-up: Train fares, Morrisons, Arrival

(Sharecast News) - Campaigners are calling for an end to the "peak fare rip off", where commuters in some parts of the country face far higher mark-ups to travel at busy times. The call came after regulated rail fares in England and Wales jumped by 5.9% on Sunday - the biggest hike in a decade - adding hundreds of pounds to the cost of many annual season tickets despite record levels of poor service. - Guardian

Morrisons is planning to ditch at least 83 property maintenance suppliers, many based in its home city of Bradford, putting more than 1,000 jobs at risk as it shifts to a single provider for repairs. The debt-laden supermarket chain, which is battling to save costs after a takeover in October 2021 by the American private equity group Clayton Dubilier & Rice, is also likely to lay off up to 50 staff dealing with property maintenance at its Bradford head office and around the country. - Guardian

Troubled British electric van maker Arrival has been hit by a second winding up petition in less than a month. The business was last week hit with a fresh legal challenge from a creditor, a week after Arrival said it had secured $50m (£41.5m) in new funding. The latest petition comes from Rugby-based Lenoch Engineering, a machinery and robotics specialist. The legal threat, where a creditor demands a court shut down a company for missed payments, was issued on March 1, according to court records. Lenoch Engineering did not respond to requests for comment. - Telegraph

America is significantly more attractive than Britain for energy investment, Shell's new chief executive has said. Wael Sawan said the government should "take a page from some of the things that the US have done recently, through the Inflation Reduction Act", a $369 billion package of subsidies to spur green investment in America. - The Times

Increased flexible working would tackle staff shortages that threaten economic growth, experts have said. More of the working-age population would take up work or stay in jobs if they were offered greater flexibility on where and how they worked, analysts said. Central bankers have said a labour supply problem risks cutting the UK's potential for growth. - The Times

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(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
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(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
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(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.

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