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Thursday newspaper round-up: Post Office, Vestas, McLaren

(Sharecast News) - The police criminal inquiry into the Post Office has identified dozens of persons of interest so far, as a team bolstered to 100 officers investigates the actions of executives, legal teams and civil servants connected to the Horizon IT scandal. The investigation, which the police describe as unprecedented in size and scale, is in the first instance examining potential offences of perjury and perverting the course of justice by those involved in making "key decisions" on Post Office investigations and supporting prosecutions of branch owner-operators. - Guardian The wind turbine maker Vestas has said it will cut 300 jobs at its Isle of Wight factory. Staff at the plant in Newport have been told at least half of its manufacturing operation, which employs 600 people, will be cut amid changing demand for turbine blades. Vestas, a Danish manufacturer with operations in 88 countries, is switching from making offshore blades to smaller, onshore blades, which will only sustain 300 jobs at the site, it said. - Guardian

Labour has been accused of seeking to bulldoze through the Home Counties as Angela Rayner prepares to unveil the biggest overhaul of planning rules in a generation. The Housing Secretary will on Thursday unveil a new National Planning Policy Framework (NPPF) intended to pave the way for thousands of estates across the South East. - Telegraph

British supercar maker McLaren has been sold to an Abu Dhabi sovereign wealth fund, in a deal presided over by the Emirate's crown prince. The Woking-based company has until now been owned by state-owned Bahraini investment outfit Mumtalakat. But the firm has now sealed an agreement to sell McLaren's automotive business to CYVN Holdings, which is managed by the trillion-dollar Abu Dhabi Investment Authority. - Telegraph

One of America's largest car manufacturers is set to abandon its plans to develop a driverless taxi after the programme was marred by an accident last year. General Motors (GM) had made the new technology a priority, pouring more than $10 billion into its Cruise robotaxi vehicle since 2016. The company announced on Tuesday that it plans to shift the focus of the Cruise programme to concentrate on developing advanced driver assistance systems for personal vehicles instead. - The Times

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Friday newspaper round-up: Shadow banking sector, Soho House, X
(Sharecast News) - The UK Treasury has a "limited grasp" of concerns linked to the booming shadow banking sector and may not be prepared for risks the unregulated industry poses to financial stability, peers have said. While a lack of data makes it hard to say whether the $16tn (£12tn) non-bank financial sector could bring the wider financial system to its knees, officials do not seem to be alive to the potential risks, according to a Lords financial services regulation committee report. - Guardian
Thursday newspaper round-up: Anthropic, commercial landlords, Asda
(Sharecast News) - Anthropic is planning a $10bn fundraise that would value the Claude chatbot maker at $350bn, according to multiple reports published on Wednesday. The new valuation represents an increase of nearly double from about four months ago, per CNBC, which reported that the company had signed a term sheet that stipulated the $350bn figure. The round could close within weeks, although the size and terms could change. Singapore's sovereign wealth fund GIC and Coatue Management are planning to lead the financing, the Wall Street Journal reported. - Guardian
Wednesday newspaper round-up: Venezuela, Faculty, Heathrow
(Sharecast News) - Donald Trump has said Venezuela will be "turning over" $2bn worth of Venezuelan crude to the United States, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts. "This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!" Trump said in a post online. - Guardian
Tuesday newspaper round-up: Car sales, Claire's Accessories, Nvidia
(Sharecast News) - Insolvent recruitment businesses shorn of their debts then reacquired from administration by the directors or shareholders that presided over their demise are costing the exchequer tens of millions of pounds in lost taxes, a Guardian analysis suggests. The practice of "phoenixism" - the art of liquidating a company and allowing the directors to rise from the ashes with a new entity, free of debts - is estimated by HM Revenue and Customs (HMRC) to have cost taxpayers about £800m a year. - 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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