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Thursday newspaper round-up: Diesel prices, Amazon, Whitbread

(Sharecast News) - Supermarkets have cut more than 7p a litre from the price of diesel since the UK's competition watchdog warned it would question retail bosses about unnecessarily high forecourt prices, according to the RAC. The motoring group found that the average price of diesel fell by 7.44p a litre, from 151.02p two weeks ago to 143.58p this week, after the Competition and Markets Authority (CMA) raised concerns that retailers were making "sustained higher margins" from sales of diesel. - Guardian

Amazon's main UK division has paid no corporation tax for the second year in a row after benefiting from tax credits on a chunk of its £1.6bn of investment in infrastructure, including robotic equipment at its warehouses. Amazon UK Services, which employs more than half of the group's UK workers, received a tax credit of £7.7m in the year to the end of December, according to accounts filed at Companies House, advance details of which were shared by Amazon with the Guardian. - Guardian

The owner of Premier Inn plans to swap mains gas for heat pumps and solar panels at more than 800 of its hotels as it pushes for net zero. The hotel chain, which is owned by Whitbread, one of the UK's largest hospitality businesses, wants to remove mains gas connections wherever possible by 2040 to boost its green credentials. - Telegraph

The City regulator has launched a criminal investigation into the racehorse-owning boss of WealthTek around a potential £81 million gap in the collapsed fund management company's finances. Officials at the Financial Conduct Authority confirmed that John Dance was being investigated over possible fraud and money-laundering offences, as well as potential regulatory breaches. - The Times

Sean Combs, the American rapper, actor, record producer who also has been known as Puff Daddy, P Diddy and Diddy, has accused Diageo of breaking the terms of their business partnership and of neglecting the tequila brand they had bought together, saying the company had done so because he is black. The lawsuit comes after years of partnership between the spirits company that owns Johnnie Walker, Guinness and Tanqueray and Combs, 53, with their joint DeLeón tequila brand. - The Times

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(Sharecast News) - The UK government will "wait and see" whether tariffs announced by Donald Trump "actually come to pass", a senior minister said. The US president announced what he called "reciprocal tariffs" on all other countries on Thursday evening, claiming it was "fair to all". But it was unclear how this would apply to the UK, especially as Trump suggested his policy regarded VAT as a tariff. - Guardian
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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
Wednesday newspaper round-up: British economy, Heathrow, FOS
(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
Tuesday newspaper round-up: OpenAI, EVs, gas prices
(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

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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