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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: Wilko, John Lewis, ARM...

(Sharecast News) - Administrators to discount chain Wilko have won the backing of creditors for a rescue deal led by HMV tycoon Doug Putman that could save about 8,000 jobs. PwC is understood to have secured support from the Pension Protection Fund, an industry-backed lifeboat, as well as other creditors, including major landlords and suppliers, for the deal. - The Sunday Times EY, the auditor of collapsed retail chain Wilko, is facing a backlash for its oversight of the group after signing off its accounts despite the firm having warned that it did not have enough funds to cope with a sharp drop in sales. [...] The risk of insolvency appears to have been flagged as long ago as January last year when the firm was putting the finishing touches to its most recent set of annual accounts, for the year to 29 January, 2022. - Mail on Sunday

John Lewis faces "extreme challenges" in making a paper profit on its flagship housing scheme, its advisers have warned. A scheme to build more than 400 flats above a Waitrose in West Ealing risks costing significantly more to build than it is worth on paper. The project threatens to deliver a negative return of £57m, planning documents show. The official early analysis, commissioned by John Lewis Partnership, raises fresh questions about the retailer's plans to expand into property under chairman Dame Sharon White. - The Sunday Telegraph

British chip designer Arm is seeking a valuation of between $50 billion (£40 billion) and $55 billion when it floats in the US this month, a significant cut to the $64 billion figure it achieved in a deal last month. The downgrade appears to be a big climbdown for its owner, the Japanese investment giant SoftBank, which acquired the 25 per cent of Arm it did not already control from its own Vision Fund for $16.1 billion in August. The deal implied a value of $64 billion. - The Sunday Times

Britain faces the biggest jump in age-related healthcare spending in Europe as a result of a rapidly expanding NHS and an increasingly elderly population. Spending on healthcare for the elderly is on course to rise by just under 8pc of gross domestic product (GDP) over the next 50 years, official projections show - or around £200bn in today's money. This compares with a predicted rise of less than 1pc of GDP over the same period in Germany and around 2pc in France, where health insurance is mandatory. - The Sunday Telegraph

Chancellor Jeremy Hunt has insisted that his plan to halve inflation is "working" despite further expected interest rate hikes and rising energy bills set to inflict more pain on households. [...] Mr Hunt said he knew family budgets were still stretched, but he insisted "we are on track to halve inflation this year and by sticking to our plan we will ease the pressure on families and businesses alike". - The Independent

The government is in advanced talks with the country's largest steel producer, Tata Steel, over a £500m package to secure its long-term future in the UK, according to reports. [...] Under the deal, Tata Steel would also be required to commit to building electric arc furnaces to reduce carbon emissions. The production process, which is less labour-intensive than current blast furnaces, could result in the loss of thousands of jobs. - The Guardian

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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
Wednesday newspaper round-up: Starbucks, Santander, Alphabet
(Sharecast News) - Starbucks office workers will risk losing their jobs if they fail to comply with the company's hybrid work requirement that employees are in the office three times a week. According to the Wall Street Journal an internal message sent to employees warns that an "accountability process" will start in January 2025. Consequences for non-compliance are "up to, and including, separation", according to the company message. - 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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