Skip Header
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: UK High Street, WeWork, China

(Sharecast News) - Richard Harpin, the home repairs tycoon, will invest £110m of his personal fortune in medium-sized businesses in a bid to save the UK High Street. Last year, Harpin sold HomeServe, the company that he founded in 1993 to Brookfield for over £4bn, netting him and his wife roughly £500m. Harpin says his main goal is not the return on investment, but rather to help get the country and economy going by helping businesses to scale up. He will also bring to the table his 45 years of experience as an entrepreneur. "If you are running a business, you need to focus on things that matter and will make a difference," he argued. "We need to do much more to save our High Streets." - Mail on Sunday Office sharing behemoth WeWork's warning that there was "substantial doubt" that it could remain afloat suggests that the impact for the broader sector could be dire, according to experts. In 2019 the company was the biggest commercial leaseholder in New York and London and still contracts on about 6.4m square feet spread across 70 buildings in that city alone. That was despite attempts since to shed those leases. Now, if it goes bankrupt, it may dump them on a market that is still fighting to overcome record low occupancy and to refinance debt on properties in the face of rising interest rates. - Guardian

Engineering giant Arup has joined the list of UK outfits cutting back on their exposure to China's economy as the Asian giant falls into a deeper property-led slowdown. Deputy chairwoman, Dervilla Mitchell, said Arup would further reduce its footprint in China, although she declined to provide an exact number for the members of staff who would be let go. According to China expert, George Magnus, the property downturn was exactly like what happened to the UK in the 2000s with Lehman and Northern Rock. He put the size of the property sector at twice what it was in the UK, as a proportion of the overall economy, at the onset of the financial crisis. - The Sunday Times

KBR has tabled a potential takeover offer worth $5bn (£4bn) for Critical Mission Solutions, the business that decommissions nuclear waste at Sellafield and is taking part in construction of the Point C nuclear reactor. CMS now belongs to engineering group Jacobs and has thousands of staff across the UK who work on nuclear infrastructure as well as military procurement. A spokesperson for Jacobs said that the firm did not comment on speculation. - The Sunday Times

Share this article

Related Sharecast Articles

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.