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Tuesday newspaper round-up: Meta, ExxonMobil, Very Group

(Sharecast News) - The Federal Communications Commission on Monday fined the largest US wireless carriers nearly $200m for illegally sharing access to customers' location information. The FCC is finalizing fines first proposed in February 2020, including $80m for T-Mobile; $12m for Sprint, which T-Mobile has since acquired; $57m for AT&T, and nearly $47m for Verizon. - Guardian The EU is set to launch formal proceedings against Meta, the owner of Facebook and Instagram, amid concerns it is not doing enough to counter Russian disinformation before the EU elections in June, according to reports. It is also expected to express concerns about the lack of effective monitoring of election content and a potentially inadequate mechanism for flagging illegal content. - Guardian

Oil traders working for US giant ExxonMobil face losing their jobs because they refuse to leave Brussels for London over poor pay. Staff at the multinational are reluctant to relocate to the British capital amid dissatisfaction with "uncompetitive" pay and a "lack of flexibility", unions have warned. An internal survey showed most said they would turn down the move for these reasons. - Telegraph

The Barclay family are on course to lose control of the last pillar of their corporate empire as their Gulf-based backers plot a sale of Very Group. The Abu Dhabi investment firm that launched an unsuccessful attempt to buy the Barclays' media assets last year is drawing up plans for an auction of the retailer as it seeks to unwind a £1.2 billion refinancing of the family's debts. - The Times

A star stockpicker who has been responsible for managing £60 billion of assets has quit Royal London Asset Management to set up his own firm, taking his team with him. Peter Rutter, the firm's head of equities and the manager of a number of strongly performing authorised funds, has left with immediate effect. - The Times

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Thursday newspaper round-up: Solar panels, OBR, Chevron
(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
Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(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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