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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: Tesco, Post Office, Amazon, Stellantis

(Sharecast News) - Tesco has struck a deal to buy enough solar power to run 144 of its large supermarkets, buying almost two-thirds of the entire electricity output from the Cleve Hill solar park in Kent. The £450m solar park is being built on farmland near Faversham by Quinbrook Infrastructure Partners, a London-based firm that invests in renewable and low-carbon energy in the US, UK and Australia. - Guardian

Post Office executives changed data on the Horizon IT systems used by post office operators without their knowledge as recently as last year, the public inquiry into the scandal has heard. The inquiry was shown a letter from Calum Greenhow, the chief executive of the National Federation of Subpostmasters (NFSP) and a post office operator for 22 years, to the Post Office raising the issue in May last year. - Guardian

Amazon has become the latest tech giant to embrace mini-nuclear reactors as the online retailer seeks to power a growing fleet of electric trucks and data centres. The American group, founded by Jeff Bezos, said on Wednesday it had led a $500m (£380m) funding round in small modular reactor (SMR) technology being developed by Maryland-based X-energy. It is also backing two SMR projects in the states of Virginia and Washington. - Telegraph

The crisis at Stellantis, the parent group of Vauxhall, has been laid bare as the multinational automotive group revealed that deliveries have crashed 20 per cent compared with a year ago. Shipments around the world by Stellantis brands in the three months to the end of September fell 279,000 to 1.14 million compared with the same period in 2023. The collapse in business was most acutely seen in North America where shipments dived 36 per cent, down 171,000 vehicles to 299,000, as it admitted problems managing the energy transition. - The Times

The UK's decision to leave the European Union was a "disaster" that has cost the Square Mile almost 40,000 jobs, according to the lord mayor of the City of London. The estimate by Michael Mainelli, who represents the Square Mile in his role as the 695th lord mayor, will fuel the debate over the true extent to which Britain's financial services sector has been harmed by Brexit. - The Times

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(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
Wednesday newspaper round-up: British economy, Heathrow, FOS
(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - Guardian
Tuesday newspaper round-up: OpenAI, EVs, gas prices
(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - Guardian
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(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - 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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