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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.

Tuesday newspaper round-up: BNPL, Unilever, oil prices

(Sharecast News) - The Trades Union Congress has accused the Tory government of promoting a "greed is good" culture among bankers, who it said would be able to "cash in on unlimited bonuses" after a cap on payouts was lifted on Tuesday. The TUC said that while ministers had repeatedly called for pay restraint for most workers, they had been "silent over excess in the City". - Guardian The City regulator has taken action after finding that customers of two leading buy now, pay later providers were "at risk of harm" because of potentially unfair and unclear small print. The US-based online payments group PayPal and the TV shopping channel QVC have changed the terms of their contracts after the Financial Conduct Authority (FCA) expressed "concern" over the impact to customers. - Guardian

Unilever is freezing its chief executive's salary until 2026 as it tries to calm frustration among shareholders unhappy with the performance of the company which owns Marmite and Ben & Jerry's. Hein Schumacher, who took over from Alan Jope in July, will not get any increase to his fixed pay packet of €1.85m (£1.62m) in 2024 or 2025, Unilever said. - Telegraph

MPs have accused Britain's biggest high street banks of seeking "to do as little as they can get away with" on raising savings rates for customers. The Commons' Treasury select committee stepped up its pressure after quarterly trading reports from banks over the past week and amid continued scrutiny from the financial regulator over their practices. - The Times

Oil prices could surge to a record high of more than $150 a barrel if the Israel-Gaza war escalates into a regional conflict, the World Bank has warned. Brent crude, the global benchmark price, rose from less than $85 a barrel before Hamas's October 7 attack on Israel to exceed $93 a barrel on October 18, amid fears that escalation could result in supply disruption. Prices have receded slightly since and yesterday Brent was 1.7 per cent lower at $86.49. - The Times

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Monday newspaper round-up: Four-day week, UK energy, Apple
(Sharecast News) - Fraudsters may have stolen £500,000 from a taxpayer-funded scheme aimed at accelerating the removal of dangerous cladding from buildings, the public spending watchdog has revealed. The National Audit Office said the government decision to prioritise speed in handing out money to building owners had increased its risk of losses from fraud. The warning came in an NAO report into the government's progress in remediating dangerous cladding from blocks after the Grenfell Tower fire in 2017. - Guardian
Friday newspaper round-up: Boeing, Amazon, Harland & Wolff
(Sharecast News) - Striking Boeing workers will vote on an improved contract offer on Monday, which includes a 38% pay rise over four years and a bigger signing bonus, their union said on Thursday. More than 30,000 factory workers who produce Boeing's strongest-selling 737 Max commercial jet and other planes have been on strike since 13 September and have rejected two earlier offers from Boeing. - Guardian
Thursday newspaper round-up: Lloyds Banking Group, Microsoft, car finance crisis
(Sharecast News) - The former cryptocurrency executive Nishad Singh, who once shared a $35m Bahamas penthouse with the FTX founder, Sam Bankman-Fried, was spared prison time by a judge on Wednesday for his role in the theft by his imprisoned former boss of about $8bn in customer funds from the now bankrupt exchange. The United States district judge Lewis Kaplan imposed the sentence during a hearing in Manhattan federal court. - Guardian
Wednesday newspaper round-up: Starbucks, Santander, Alphabet
(Sharecast News) - Starbucks office workers will risk losing their jobs if they fail to comply with the company's hybrid work requirement that employees are in the office three times a week. According to the Wall Street Journal an internal message sent to employees warns that an "accountability process" will start in January 2025. Consequences for non-compliance are "up to, and including, separation", according to the company message. - 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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