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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: Sainsbury's, British Steel, DeSantis

(Sharecast News) - Sainsbury's chief Simon Roberts gave his support to the Financial Mail on Sunday's campaign for police to crack down on shoplifters as an epidemic of retail crime sweeps across the country. Roberts also said he backed making abuse or violence against retail staff a specific offence. He also noted that the grocer had been the first to offer all of its 150,00 staff body-worn cameras that can aid support teams at its stores. - The Financial Mail on Sunday British Steel's new auditor has unexpectedly resigned, further putting at risk £600m of state aid needed to stave off collapse at the Chinese-owned manufacturer.The decision by Moore Kingston Smith follows its inability to verify tens of millions of pounds' worth of inventories. The auditor had taken over just over a year ago from Mazars which had resigned after a row over fees. Moore Kingston Smith said it could not account for £45.8m worth of stock during the year ending in December 2021, the accounts for which had been severely delayed. - The Sunday Times

US state of Florida hard-right governor Ron DeSantis has bowed out of the running for the Republican party's presidential nomination. Instead, he has thrown his support behind Donald Trump. "It's clear to me that a majority of Republican primary voters want to give Donald Trump another chance," DeSantis said on X. "He has my endorsement because we can't go back to the old Republican guard of yesteryear, a repackaged form of warmed over corporatism that Nikki Haley represents." - Guardian

Enquest chief executive officer Amjad Bseisu criticised Labour's plan to ban new oil and gas drilling, calling it "economically senseless". Bseisu believed that it would lead to rigs being shut down a decade ahead of plan. Indeed, the driller's two large Magnus and Kraken platforms would be rendered less economical and put at risk of being closed early. Early closures would also have an impact on the Treasury as oil companies get big tax breaks for decommissioning. - The Sunday Telegraph

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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
Thursday newspaper round-up: Car production, UK retailers, water bills, KPMG
(Sharecast News) - The architect of a ban on newspaper takeovers by foreign states has demanded that an Abu Dhabi fund be forced to sell The Telegraph by Easter. Baroness Stowell, the Conservative chairman of the Lords communications and digital committee, said the Government should impose an ultimatum on RedBird IMI. It should be backed by the threat of regulatory action, she said, to strip the fund of control of what has been dubbed "the newspaper auction from hell". - Telegraph

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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