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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: Hargreaves Lansdown, Crest Nicholson, Michael Kors

(Sharecast News) - Hargreaves Lansdown's three private equity suitors have until Wednesday to either table a formal bid for the investment platform or walk away. A £4.7bn offer presented in April was rejected. In particular, the bidders have been attracted by the firm's ability to deposit client cash at the Bank of England for a rate of 5.25%, whilst paying just 3% on a cash Isa of up to £10,000. That netted its £269m last year at no risk. - The Financial Mail on Sunday Large shareholders in Crest Nicholson are asking the homebuilder's board to negotiate a deal with its rival Bellway. That follows news that Crest had recently rejected two all-share offers from Bellway. It also comes right on the heels of another profit warning from Crest - its fourth since August. Other rivals such as Barratt and Redrow had recently announced a tie-up, whilst Legal&General had put Cala Group up for sale. Builders were consolidating their land banks before an anticipated upturn in the housing market. - The Sunday Times

Luxury fashion brand Michael Kors saw its sales in the UK drop sharply last year as customers closed their purse strings. UK sales shrank by a tenth, although online purchases had been strong over the year to April. The company also said that it might hike its prices further on account of the increase in the cost of basic materials. Luxury firms are adjusting to lower customer spending after they splurged in the aftermath of the pandemic. - Financial Mail on Sunday

Greencore, which supplies grocers including Asda, Morrisons and Sainsbury's is among the businesses that are recalling products that might be linked to the recent outbreak of E coli. Thousands of sandwiches, wraps, and salads sold at those grocers, as well as Boots, Aldi, Amazon, and the Co-op are being recalled. Samworth Brothers, which supplies Tesco and One Stop convenience stores is also recalling some sandwiches, wraps and subs. An additional manufacturer is also expected to announce a recall. - Guardian

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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
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

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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