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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: Elon Musk, John Lewis, Mike Lynch

(Sharecast News) - Jeremy Hunt could offer striking public sector workers a bigger pay rise before his budget next month by cancelling plans for a fuel duty freeze costing £6bn, according to a leading tax and spending watchdog. With waves of fresh strike action planned across the public sector next month, the director of Institute for Fiscal Studies (IFS), Paul Johnson, said the chancellor faced a "straight choice" between subsidising car driving and helping public sector workers cope with the cost of living crisis. - Guardian Elon Musk is facing yet another lawsuit as shareholders of Tesla accuse the chief executive and his company of overstating the effectiveness and safety of their electric vehicles' autopilot and full self-driving technologies. Shareholders have alleged in the proposed class action lawsuit that Tesla defrauded them over four years with false and misleading statements that concealed how its technologies - suspected as a possible cause of multiple fatal crashes - "created a serious risk of accident and injury". The case was filed Monday in a San Francisco federal court. - Guardian

Dame Sharon White has sacked the head of John Lewis's department stores as the business fights surging prices and the threat of a resurgent Marks & Spencer. Pippa Wicks is stepping down from the company with immediate effect after less than three years in the post. - Telegraph

Some of Britain's most prominent business figures have called on the prime minister to block the prospective extradition of Mike Lynch, the software tycoon, to the United States. Entrepreneurs including Brent Hoberman, a co-founder of Lastminute.com, along with City veterans such as Lord Stevenson of Coddenham, the former chairman of Pearson and HBOS, have written to Rishi Sunak complaining about America's "unreasonable" use of an extradition treaty. - The Times

Bosses at public companies are expecting to embark on more acquisitions this year as an improvement in economic conditions sets the stage for a wave of dealmaking in the City. In a poll of FTSE 250 chief executives by Numis, 94 per cent expected to make acquisitions in 2023, compared with 86 per cent last year. The investment bank also found that 88 per cent of FTSE directors regard British companies as vulnerable to takeovers. - The Times

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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.

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