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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.

Sunday newspaper round-up: Asda, Barclays, McLaren

(Sharecast News) - Zuber Issa, one of the two billionaire brothers at the helm of Asda, has been sounding out potential buyers for his 22.5% stake in the grocer. Instead, Zuber wishes to focus on EG Group, their petrol station empire. Meanwhile, Asda's next phase may include a bid for Boots. According to City sources, it was also possible that Zuber might use the funds raised through a sale to fund the purchase of his brother's stake in EG Group. - The Sunday Telegraph Barclays is the High Street lender that is planning to close the most branches in 2024, 68 out of 312, and a further six in 2025. That will mean that over the past decade it had closed 83% of its branches. An analysis of figures from Which? by The Mail on Sunday shows that over 60% of the 10,000 bank branches that were open in 2015 will have been shut by the end of 2024. For its part, Lloyds was planning to close 56 branches this year, Halifax some 42 and NatWest 21. - The Financial Mail on Sunday

Mumtalakat, Bahrain's sovereign wealth fund, last week invested £30m into McLaren to support the development of new products. That sum was on top of the £80m that it injected into the supercar-maker two months before. Over the past year investors have put £500m into the company. However, McLaren has taken on financial advisers from Teneo to work out how to avoid having to rely on top-ups from Mumtalakat. - The Sunday Times

America's National Highway Traffic Safety Administration pushed Tesla on Friday into a recall of almost all of the 2.2m vehicles that it has sold in the US as some warning lights on the instrument panel are too small. However, for owners that will likely just entail software patch downloads at home. The same agency also upgraded its 2023 investigation into steering problems with Teslas to an engineering analysis, marking a move closer to a recall. - Guardian

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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.

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