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Thursday newspaper round-up: Business start-up funding, food prices, Royal Mail

(Sharecast News) - Labour has launched a review of business startup funding driven by a group of industry leaders including the former Goldman Sachs chief economist and Conservative Treasury minister Jim O'Neill as it attempts to improve its credentials with business. Announcing the review amid concern over the strength of the British economy, Rachel Reeves, the shadow chancellor, said Labour wanted to make Britain the best place in the world to start and grow a business. - Guardian Food price rises in the UK could hit 15% this summer - the highest level in more than 20 years - with inflation lasting into the middle of next year, according to a report. Meat, cereals, dairy, fruit and vegetables are likely to be the worst affected as the war in Ukraine combines with production lockdowns in China and export bans on key food stuffs such as palm oil from Indonesia and wheat from India, the grocery trade body IGD warns. - Guardian

Regent Street faces a rise in empty shops as the work-from-home revolution continues to damage high streets, The Crown Estate has warned. The commercial landlord responsible for the Queen's land has warned footfall in central London remained significantly below pre-pandemic levels last year as home workers made fewer trips to top retail destinations. - Telegraph

Gas prices in Britain and Europe surged for a second consecutive day yesterday as Russia said it was further curtailing supplies to the Continent. Gazprom, the Kremlin-controlled gas group, said it was limiting volumes through the Nord Stream 1 pipeline to Germany, while Eni, of Italy, said that its supplies from Russia also had been reduced. UK wholesale gas prices jumped by 30 per cent to more than 257p a therm. - The Times

Some Royal Mail managers are working dozens of hours of unpaid overtime every month, their trade union has claimed, amid a fight over staffing levels that could lead to strike action. The postal network is heading toward industrial strife this summer as Royal Mail battles with its unions. The Communication Workers Union, which represents the bulk of its 100,000 staff, is to notify the company of a ballot for industrial action next week over demands for a cost of living pay increase. The company could have a national strike on its hands in August. - The Times

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Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(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
Sunday newspaper round-up: Etihad float, Shein, Thames Water
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Friday newspaper round-up: Gambling sector, FOS, Amazon
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
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

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