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Thursday newspaper round-up: Meta, Heathrow, Murdoch, BP

(Sharecast News) - Meta workers are bracing for thousands of additional layoffs as the embattled social media firm continues to cut costs. A new round of layoffs began on Wednesday, according to a report from CNBC that was confirmed by Meta. The company will cull 4,000 jobs immediately as part of a larger plan to cut 10,000 jobs announced earlier this year, focusing largely on technical roles. - Guardian Security staff at Heathrow airport are to strike on eight days next month in a dispute over pay. The action by members of the Unite union will take place on 4, 5, 6, 9, 10, 25, 26 and 27 May, and follow strikes over Easter. - Guardian

Rupert Murdoch's bill for settling defamation lawsuits against Fox News is likely to eclipse the £1bn paid out in the wake of the phone-hacking scandal. Fox reached a dramatic 11th-hour settlement with Dominion Voting Systems on Tuesday over accusations that the news network knowingly broadcast false claims that Dominion's technology was used to rig the 2020 election of Joe Biden. - Telegraph

A shareholder revolt to remove Helge Lund as chairman of BP was gathering momentum last night, with five of Britain's biggest pensions schemes planning to vote against his re-election in protest at the company's watering down of green commitments. The Universities Superannuation Scheme followed the National Employment Savings Trust in announcing plans to vote against Lund. Brunel Pension Partnership, a group of nine council schemes, also said it would vote to oust him. Two other council pension umbrella groups, LGPS Central and Border to Coast, are said to be joining them. - The Times

A leading American consultancy has offered new recruits from business schools thousands of dollars to hold off joining and kill time by becoming a yoga instructor or by heading out on safari. Bain has given sizeable financial incentives to recruits with postgraduate business degrees to push back their start dates until next April, according to The Wall Street Journal, which reported that McKinsey had also delayed new starts. - The Times

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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
Thursday newspaper round-up: Car production, UK retailers, water bills, KPMG
(Sharecast News) - The architect of a ban on newspaper takeovers by foreign states has demanded that an Abu Dhabi fund be forced to sell The Telegraph by Easter. Baroness Stowell, the Conservative chairman of the Lords communications and digital committee, said the Government should impose an ultimatum on RedBird IMI. It should be backed by the threat of regulatory action, she said, to strip the fund of control of what has been dubbed "the newspaper auction from hell". - Telegraph

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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