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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: The Restaurant Group, Severn Trent, Facebook

(Sharecast News) - The Restaurant Group, owner of the Wagamama chain, is under increasing pressure to break up after TMR Capital proposed last week to management that it sell all its brands save that one. TMR was the fourth activist shareholder to make the case for change. Under the plans presented by TMR, Restaurant group should then focus on expanding the chain before going private via a sale. The clash on strategy comes amid a surge in the cost of ingredients, energy and salaries. - The Sunday Telegraph

Severn Trent and United Utilities are facing pressure to reduce their dividend payouts and bonuses in the wake of public consternation at the dumping of millions of tonnes of sewage into rivers and seas. In the case of United Utilities, the payouts are set to rise by 5% to £310m despite estimates pointing to losses at the water company as interest rate costs increase. Severn Trent meanwhile was expected to see its profits more than halve for the same reason. - Financial Mail on Sunday

An Irish regulator is planning to levy a £648m fine on Facebook, possibly as soon as Monday, and to order the social media giant to stop transferring data from its European users to the US. Facebook owner Meta was however expected to be granted a grace period to comply with the ruling from Ireland's Data Protection Commission. That could push the suspension of data transfers into the autumn and the company was expected to appeal. Furthermore, the US and EU have already agreed a new data transfer agreement at the political level, so that any suspension would be rendered meaningless. - Guardian

Legal & General Investment Management is at the fore of a revolt among McDonald's shareholders over the fast food giant's "overuse" of antibiotics and mass meat production. The asset manager was planning to table a resolution at the chain's annual meeting during the forthcoming week calling on it to institute WHO guidelines on drug use in its supply chain. The fear of those shareholders is that the company is fueling antimicrobial resistance which could lead to resistant superbugs in humans. Estimates are that AMR might cause £800m of economic damage by 2050. - Financial Mail on Sunday

Ministers are planning to scrutinise financial watchdogs more closely and to increase accountability for the decisions that they take in a bid to speed up the City of London's growth by adding an extra layer of independence to the framework for regulatory oversight. During the coming week, the Treasury would table an amendment to the Financial Services and Markets Bill that would give more powers to the Financial Regulators Complaints Commissioner, which supervises the FCA, PSR and PRA, with the Treasury being given the power to select the FRCC's chief. - The Sunday Times

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Tuesday newspaper round-up: Oasis fans, house prices, Future
(Sharecast News) - The $1m-a-day voter sweepstakes that Elon Musk's political action committee is hosting in swing states can continue through Tuesday's presidential election, a Pennsylvania judge ruled on Monday. The common pleas court judge Angelo Foglietta - ruling after Musk's lawyers said the winners are not chosen by chance - did not immediately give a reason for the ruling. - Guardian
Monday newspaper round-up: Four-day week, UK energy, Apple
(Sharecast News) - Fraudsters may have stolen £500,000 from a taxpayer-funded scheme aimed at accelerating the removal of dangerous cladding from buildings, the public spending watchdog has revealed. The National Audit Office said the government decision to prioritise speed in handing out money to building owners had increased its risk of losses from fraud. The warning came in an NAO report into the government's progress in remediating dangerous cladding from blocks after the Grenfell Tower fire in 2017. - Guardian
Friday newspaper round-up: Boeing, Amazon, Harland & Wolff
(Sharecast News) - Striking Boeing workers will vote on an improved contract offer on Monday, which includes a 38% pay rise over four years and a bigger signing bonus, their union said on Thursday. More than 30,000 factory workers who produce Boeing's strongest-selling 737 Max commercial jet and other planes have been on strike since 13 September and have rejected two earlier offers from Boeing. - Guardian
Thursday newspaper round-up: Lloyds Banking Group, Microsoft, car finance crisis
(Sharecast News) - The former cryptocurrency executive Nishad Singh, who once shared a $35m Bahamas penthouse with the FTX founder, Sam Bankman-Fried, was spared prison time by a judge on Wednesday for his role in the theft by his imprisoned former boss of about $8bn in customer funds from the now bankrupt exchange. The United States district judge Lewis Kaplan imposed the sentence during a hearing in Manhattan federal court. - 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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