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Thursday newspaper round-up: Post Office, Amazon, UK stocks

(Sharecast News) - The former chair of the Post Office has expressed "sincere regret" for the state-owned body's failings in the Horizon IT scandal and said it was a mistake not to show a key report on the problem to its board. Tim Parker, who was chair of the Post Office between 2015 and 2022, told a judge-led public inquiry that he felt "deep sympathy" for the Post Office operatives affected by what MPs have described as one of the biggest miscarriages of justice in UK history. - Guardian Amazon founder and executive chair Jeff Bezos is planning to sell almost $5bn worth of shares in the e-commerce giant, a regulatory filing showed, after its stock hit a record high. The proposed sale of 25m shares was disclosed in a notice filed after market hours on Tuesday. The stock had hit an all-time high of $200.43 during the session. It has jumped more than 30% so far this year, outpacing the 4% gain in the Dow Jones Industrial Average index. - Guardian

Sir Jim Ratcliffe has shelved plans for his Ineos Automotive business to build an electric vehicle only months after a model was unveiled, citing low consumer demand and a lack of clarity over the government's policy on net zero. In February, the petrochemicals tycoon revealed an all-electric Fusilier, intended to be available also as a hybrid variant and as a smaller sister vehicle to the Ineos Grenadier, an all-terrain 4×4 developed after Jaguar Land Rover's decision to abandon its old-style Land Rover Defender. - The Times

The Conservatives "damaged" the life sciences sector after more than a decade in government and the country's biggest pharmaceuticals company was right to question Britain as an investment destination, according to a former minister. The candid remarks were made by George Freeman when he was minister at the Department for Science, Innovation and Technology. They were contained in an email sent from his personal Gmail address to AstraZeneca, Britain's most valuable public company, and were obtained by The Times under the Freedom of Information Act. - The Times

British stocks are benefitting from political turbulence in France, a City investor has said. In recent weeks there has been a flood of investment into UK markets, with funds seeking stability amid the chaos of Emmanuel Macron's snap election. Isabel Albarran, investment officer at Close Brothers Asset Management, said there has been a sharp rise in demand for UK assets, which are increasingly being viewed as a safe haven. - Telegraph

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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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