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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.

Thursday newspaper round-up: Elon Musk, Dr Martens, HSBC

(Sharecast News) - Delivery app riders pedalling through cities and tailbacks at drive-throughs were familiar signs of Britain's hunger for takeaway food at the peak of the Covid pandemic. Now a study suggests it became an enduring habit. After a boom in orders on Deliveroo, Just Eat and other platforms by locked-down consumers, research by the Institute for Fiscal Studies (IFS) suggests the popularity of takeaways, meal deliveries and food-on-the-go bought from retailer such as sandwiches and crisps has remained above pre-pandemic levels after the removal of Covid restrictions. - Guardian Holidaymakers will continue to face limits on the amount of liquid they can carry on flights out of the UK this summer after the government extended the deadline for airports to install new security scanners by a year. The Department for Transport had previously set a target for the introduction of 3D scanners in all UK airports by 1 June, but this has now been extended by 12 months because some major airports will not be ready in time. - Guardian

Elon Musk's Tesla is exploring constructing a multibillion dollar electric vehicle factory in India as the country's prime minister seeks to put the brakes on China's dominance. Tesla is planning to send a team to India later this month to hunt for possible locations for the plant which could be worth as much as $3bn (£2.4bn), the Financial Times reported. - Telegraph

An activist investor in Dr Martens has urged the troubled boot brand to consider a sale or merger amid concerns about its "deeply discounted" valuation. Marathon Partners Equity Management, the New York-based investment company, said it had "serious concerns" about the retailer's stagnant growth and the 80 per cent slide in share price since it listed in London three years ago. - The Times

A break up of HSBC through a spin-off of its Asian business "will not happen," the bank's chairman Mark Tucker has insisted, as bosses seek to move on from a campaign by activist investors to split the lender in two. The future of the London-listed bank became the subject of intense debate in the City two years ago after it emerged that Ping An, a Chinese insurer that is HSBC's biggest shareholder, was agitating for the lender to hive off its Asian operations as a separately listed company based in Hong Kong. - The Times

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(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
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(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - Guardian
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(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - Guardian
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(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - 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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