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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: Co-op, TikTok, Credit Suisse

(Sharecast News) - Autonomous delivery robots will hit the streets of Greater Manchester this week as the Co-op partners with the self-driving logistics company Starship Technologies to bring its six-wheeled bots to a seventh British city. Five years after making their first UK delivery in Milton Keynes, Starship has expanded to cover hundreds of thousands of households across the country, offering services in cities including Cambridge, Leeds and Northampton.. - Guardian The Biden administration has threatened to ban TikTok in the US unless the social media company's Chinese owners divest their stakes in it, according to news reports on Wednesday. The move, first reported by the Wall Street Journal, is the most dramatic in a series of escalations by US officials and legislators, driven by fears that US user data held by the company could be passed on to China's government. It also comes amid a global backlash to the popular video-based app over concerns about the potential for Chinese spying, with countries including the UK, Canada and Australia recently moving to ban the app from government phones. - Guardian

Credit Suisse has announced that it will borrow up to 50 billion Swiss francs (£44.5bn; $54bn) from Switzerland's central bank to reinforce the group after its shares plunged. In a statement, the troubled bank said it was also making buyback offers on about 2.8 billion francs of debt. - Telegraph

Business groups have urged the government to make permanent a new £9 billion-a-year capital allowances scheme designed to stimulate investment. The chancellor yesterday announced a new "full expensing" policy for the next three years under which businesses can deduct 100 per cent of the cost of capital spending for certain plant and machinery against taxable profits, cutting their overall tax bill. - The Times

Goldman Sachs is facing scrutiny over its dealings with Silicon Valley Bank in the days before the technology lender's collapse last week. The Wall Street investment banking group is set to make tens of millions of dollars from its purchase of a vast bond portfolio from Silicon Valley Bank . The California-based lender booked a $1.8 billion loss on the transaction, helping to set the stage for its failure. - The Times

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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.

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