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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: Travel chaos, National Grid, Essex traders

(Sharecast News) - Holidaymakers trying to get away for the Easter weekend have been warned they are likely to face disruption whether travelling by air, rail, road or sea. Staff sickness and a shortage of workers have already caused multiple days of chaos for air passengers, with carriers cancelling dozens of flights at short notice, while ferry operators have struggled to meet demand as P&O Ferries services remain suspended. - Guardian Rich countries need to provide emergency food supplies to prevent rising prices and shortages triggering social unrest in poorer parts of the world, the heads of four major international bodies have said. Calling for urgent and coordinated action, the World Bank, the UN World Food Programme, the World Trade Organization and the International Monetary Fund warned that the food crisis was pushing millions of people into poverty. - Guardian

National Grid may have to pay power generators to turn down their supply during the Queen's Platinum Jubilee celebrations as the public stops work and heads outside for street parties. Its division responsible for keeping the lights on is expecting power demand in Britain to dip to its lowest annual level during the four-day weekend created to mark the occasion, from June 2-5. - Telegraph

One of Britain's biggest train companies has been threatened with strike action after giving new "see-through" uniforms to its staff. Avanti West Coast has been accused by the RMT union of making workers wear "flimsy new blouses and shirts ... which are basically transparent". A source said that employees are considering strike action. - Telegraph

Messages between Essex-based oil traders said to have made more than $700 million from the 2020 oil price crash provide a "highly plausible inference" that they collectively moved to depress prices, a judge in the United States has ruled. Texts exchanged on April 20, 2020 - the day the US oil price collapsed below zero for the first time - prompted Gary Feinerman, a district court judge in Illinois, to rule that a class-action lawsuit could proceed against eight traders. - The Times

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(Sharecast News) - A development company that sells off land no longer needed by Thames Water has paid out a £14m dividend despite warnings that it could become engulfed by the water group's financial woes. Accounts filed at Companies House show Kennet Properties paid out a £14.5m dividend in the year to 31 March 2023 despite the difficulties faced by the wider group, which is facing going into administration. - Guardian
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(Sharecast News) - Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian
Friday newspaper round-up: Thames Water, Netflix, consumer confidence
(Sharecast News) - "Misleading" and "inconsistent" labels make it hard for shoppers to know where their food comes from, the consumer champion Which? has said, as it found supermarket chains were selling products with "meaningless" statements on their packaging. Retailers must supply the "country of origin" for specific foods including fresh fruit and vegetables, unprocessed meats, fish, wine and olive oil but the rules do not generally apply to processed meat or frozen or processed fruit and vegetables. - 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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