Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Thursday newspaper round-up: Shell, Boohoo, Sam Bankman-Fried

(Sharecast News) - The former NatWest chief executive breached data protection laws when she spoke to a BBC journalist about the planned closure of Nigel Farage's bank accounts, the UK's information watchdog has ruled. An Information Commissioner's Office (ICO) report seen by the Guardian said that Alison Rose broke rules on two counts: first by revealing that Farage had a banking relationship with its private bank, Coutts; and secondly by providing "misleading information" that led the BBC to believe the bank was closing his accounts for purely commercial reasons, linked to his wealth. - Guardian Shell's new chief executive is poised to cut hundreds of jobs from the oil giant's low-carbon division as part a plan to boost the company's profits. Wael Sawan plans to shrink the number of staff working on low-carbon solutions by around 200 next year, after vowing to shift Shell's focus towards high-profit oil projects and expanding its gas business when he became chief executive in January. - Guardian

Sovereign wealth funds and local councils are among a group of investors plotting a £100m lawsuit against Boohoo after allegations of modern slavery wiped more than £1bn from the company's value. The fast fashion retailer is being targeted by City lawyers seeking compensation for shareholders who suffered losses after allegations of forced labour in Boohoo's factories came to light in 2020. - Telegraph

Qatar has backed a £400m refinancing of struggling Canary Wharf in its first significant UK deal since the terror attacks on Israel sparked criticism of its links to Hamas. Canary Wharf Group (CWG) secured hundreds of millions of pounds in extra financing from Qatar's sovereign wealth fund and its Canadian co-owner on Wednesday as the landlord struggles with high vacancy rates. - Telegraph

Sam Bankman-Fried plans to testify at his criminal fraud trial after his closest associates blamed the former billionaire for the collapse last November of his FTX cryptocurrency exchange. In a telephone conference on Wednesday with Lewis Kaplan, the judge who is overseeing the case in a federal court in Manhattan, Mark Cohen, Bankman-Fried's lawyer, said the defence planned to call three other witnesses to testify briefly after prosecutors finished presenting their case. "Our client is also going to be testifying," he said. - The Times

Share this article

Related Sharecast Articles

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.