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Thursday newspaper round-up: Non-dom rules, Dyson, Skipton

(Sharecast News) - Jeremy Hunt is considering scrapping Britain's non-domiciled tax rules in next week's budget, it has been reported, in a move that would see him poach one of Labour's key fiscal policies. The decision is understood to be on a list of revenue-generating options drawn up for the chancellor and Rishi Sunak after economic estimates left them with less money than expected for tax cuts or spending pledges. - Guardian Immigration restrictions imposed on international students threaten to damage the UK economy, according to university leaders, with the number enrolling from overseas falling by a third. Universities UK (UUK), which represents mainstream universities and colleges, said the government's new curbs, coupled with steep visa fee increases and threats to cut back on graduate work entitlements, are having a negative impact on the UK as a study destination. - Guardian

Dyson spent a record £468m on researching advanced household robots and artificial intelligence last year, as its annual revenues surged to more than £7bn. Profits at the company rose by 9pc to £1.4bn in 2023 following a drop in the previous year. The engineering company, best known for its vacuum cleaners, increased its spending on developing new products to £9m per week, up 40pc on the previous year. - Telegraph

A pioneering mortgage product that does not require any deposit from borrowers attracted applications adding up to £62 million in its first nine months, Skipton Building Society has said. Stuart Haire, 49, the former HSBC banker who joined Skipton Group as its chief executive in December 2022, launched the Track Record product in May as a way of helping renters with good rental payment records but little cash savings. So far 484 borrowers have signed up. - The Times

FirstGroup is in talks to extend its open-access rail services from Edinburgh to Glasgow. Its Lumo brand runs services between Edinburgh, above, and London on the east coast main line. It wants to expand this route so that some services would begin or end in Glasgow. Discussions are taking place between FirstGroup, Transport Scotland, the government body, and Network Rail, which manages the railway infrastructure. - The Times

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(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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(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
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(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
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(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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