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Tuesday newspaper round-up: M&S, Boohoo, commercial landlords

(Sharecast News) - The pay package of Marks & Spencer's chief executive jumped to more than £7m just weeks before the cyber-attack that rocked the retailer. Stuart Machin received £7.1m for last financial year, up nearly 40% on the £5.1m he took home a year earlier, according to its annual report. He received the bump thanks to a sharp rise in performance-linked bonuses. - Guardian A coalition of mayors from across England are urging the government to allow local authorities to bring in a Barcelona-style visitor levy to generate income from tourism. The group, led by the Liverpool city region mayor, Steve Rotheram, argues that a visitor levy would unlock vital funding for tourism and cultural infrastructure, empower regional growth and reduce dependence on central government funding. - Guardian

Ed Miliband has been urged to slash taxes on the North Sea to prevent the loss of tens of thousands of jobs. Researchers at Robert Gordon University (RGU) said oil and gas jobs were disappearing faster than new clean energy roles were being created as a result of the slower-than-expected deployment of wind farms. - Telegraph

Boohoo customers are facing unexplained delays for refunds of up to a month as the fashion retailer attempts to navigate financial pressures. In social media posts, dozens of customers of Boohoo brands, which also include Debenhams and PrettyLittleThing, have complained that they sent back goods as long as four weeks ago but their money has not been returned. - Telegraph

Commercial landlords have been warned they could be told to repay "massive" sums received from insurance commissions after a High Court judge told the owner of London's Trocadero Centre to return payments to a tenant. Insurance experts fear the industry could be facing a "nightmare" as rebates are sought in the wake of the ruling, which found that commissions paid to a landlord should not count as part of the "premium" paid by tenants. - The Times

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Thursday newspaper round-up: Höfner, Sotheby's, Christie's
(Sharecast News) - Ministers and senior MPs have warned that the UK's agreements with Donald Trump are "built on sand" after the Guardian established that the deal to avoid drug tariffs has no underlying text beyond limited headline terms. The "milestone" US-UK deal announced this month on pharmaceuticals, which will mean the NHS pays more for medicines in exchange for a promise of zero tariffs on the industry, still lacks a legal footing beyond top lines contained in two government press releases. - Guardian
Wednesday newspaper round-up: Grangemouth ethylene plant, Warner Bros, ChatGPT
(Sharecast News) - Jim Ratcliffe's chemicals company Ineos has been granted £120m of government funding to help save the UK's last ethylene plant at Grangemouth, in a deal expected to protect more than 500 jobs. The investment in the Scottish plant was necessary to preserve a vital part of the country's chemicals infrastructure, the UK government said. The ethylene produced there was essential for medical-grade plastics production, water treatment and in aerospace and car-building, it added. - Guardian
Tuesday newspaper round-up: Nissan, Morrisons, Ford
(Sharecast News) - Nissan has started the production of its latest electric car in Sunderland, a crucial step in the UK automotive industry's transition away from petrol and diesel. The Japanese manufacturer will launch the third generation of the Leaf on Tuesday, which was the first mass-market battery electric car to be built in the UK. Nissan has made 282,704 Leaf models at the north-east England plant so far. - Guardian
Monday newspaper round-up: Cryptocurrencies, jobs downturn, Cycle Pharma
(Sharecast News) - Cryptocurrencies will be regulated in a similar way to other financial products under legislation coming into force in 2027. The Treasury is drawing up rules that will require crypto companies to meet a set of standards overseen by the Financial Conduct Authority (FCA). Ministers have sought to overhaul the crypto market, which has ballooned in popularity as a way of investing money and making payments. Cryptocurrencies have not been subject to the same regulation as traditional financial products such as stocks and shares, which means that in many cases consumers do not enjoy the same level of protection. - 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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