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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: Royal Mail, Shein, Canary Wharf

(Sharecast News) - The heads of the Communication Workers Union have acquiesced to Royal Mail's demand to end six-day-a-week letter deliveries, paving the way for historic cuts to postal services. Royal Mail wants to amend its universal service obligation so that it must only deliver second-class post every other day. Nonetheless, first-class mail would continue to be delivered on Saturday, union sources said. Ofcom has yet to respond to Royal Mail's proposals. - The Sunday Times London's top-flight index will get a boost next month when Chinese online retail giant Shein unveils its plans to list in London. The float has garnered support including from the Chancellor and shadow business secretary Johnny Reynolds. Key to Shein's decision was the worsening politics for Chinese firms in the States. That had led management to forego the possibility of a New York listing. At one point that had been their preferred option. - Financial Mail on Sunday

The Canary Wharf Group agreed to pay £150m towards a major refurbishment of Morgan Stanley's 547,000 sq. foot head office. That was the price for the U.S. lender not to exercise the break clause in its contract and remain at its current European headquarters until 20238. Its decision followed a string of high-profile departures. Morgan Stanley was also allowed to walk away from a lease on smaller offices at Westferry Circus in exchange for £27.5m. - The Sunday Times

Rolls-Royce has downsized its plans to construct two new small modular reactor factories in the UK. The decision follows delays to a government design competition. It can no longer proceed with plans to construct a factory to build the pressure vessels for its SMRs in time to meet its goal of manufacturing the first such vessels in the early 2030s. Construction of the second factory on the other hand, which will build the building blocks for the reactors, is still going ahead. - The Sunday Telegraph

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(Sharecast News) - Ed Miliband has unveiled plans to make it easier for homeowners to install wind turbines in their gardens as part of a mass expansion of green power. The Energy Secretary has announced a consultation on relaxing planning rules governing the construction of turbines on residential and commercial properties. - Telegraph
Thursday newspaper round-up: Shorter working week, Microsoft, EY
(Sharecast News) - Nearly 1,000 British workers will adopt a permanently shorter working week, after the latest trial of a four-day week and similar changes to traditional working patterns. All 17 British businesses in a six-month trial of the four-day week said they would continue with an arrangement consisting of either four days a week or nine days a fortnight. All the employees remained on their full salary. - Guardian
Wednesday newspaper round-up: Prax Lindsey, Santander/TSB, pensions, Qantas
(Sharecast News) - The married couple behind the Prax Lindsey oil refinery awarded themselves at least $15.9m (£11.5m) in pay and dividends in the years leading up to its collapse, it has emerged, as the government urged the company's boss to "put his hand in his pockets" to help workers. Winston Soosaipillai, who goes by his middle names Sanjeev Kumar, jointly owned the refinery with his wife, Arani, until it plunged into insolvency on Monday. - Guardian
Tuesday newspaper round-up: King Charles, Google, offshore companies
(Sharecast News) - King Charles is set to receive official annual income of £132m next year, after his portfolio of land and property made more than £1bn in profits thanks to a boom in the offshore wind sector. Profits at the crown estate - which partly funds the monarchy - were flat at £1.1bn in its financial year to the end of March but more than double their level two years ago, at £442.6m. - 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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