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Thursday newspaper round-up: Google, IAG, Waitrose, Goldman Sachs

(Sharecast News) - Google faces a new multibillion-pound lawsuit from UK consumers accusing the company of contributing to cost-of-living price rises. The lawsuit, on behalf of every consumer in the UK, says that Google has stifled competition in the search engine market, which caused prices to rise across the UK economy. - Guardian The BBC should hand all licence fee payers a stake in the broadcaster to improve its "out of touch" agenda and give households more say over its future, according to Sir John Redwood. Sir John, the former head of Margaret Thatcher's policy unit, said the corporation would be "transformed by wider ownership". - Telegraph

Waitrose staff have been warned that jobs are at risk as the retailer overhauls its business in an effort to boost productivity. Tina Mitchell, retail director at Waitrose, allegedly warned employees that efforts to streamline the loss-making grocer "may result in some partners leaving the business". - Telegraph

The owner of British Airways is sitting on a potential windfall profit from hundreds of millions of pounds worth of flight vouchers issued during the pandemic and never redeemed. IAG, which also owns Iberia, Aer Lingus and Vueling, revealed in its last annual report that it had about £550 million worth of unclaimed vouchers. British Airways and other airlines offered passengers vouchers rather than refunds when their flights were cancelled at short notice. Thousands of passengers took up the offer, but a substantial number have not claimed their new flights. - The Times

Goldman Sachs has landed what it believes to be the biggest deal of its kind in the UK, winning the contract to choose and manage the investments of the £23 billion BAE Systems pension funds. The American bank clinched the mandate by agreeing to hire the defence group's 49 financial staff who currently make the investment decisions for the pension schemes. - The Times

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(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
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(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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