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Tuesday newspaper round-up: Prepayment meters, food prices, EY, Glencore

(Sharecast News) - Energy suppliers have agreed to a ban on forcibly installing prepayment meters in the homes of customers over 85 and will make representatives wear body cameras as part of a new code of conduct, the Guardian can reveal. Suppliers have agreed to fresh guidelines for putting in the devices when households have run up energy debt after an outcry over agents using court-approved entry warrants to break in to install them. - Guardian The price of staple foods such as cheddar cheese, white bread and pork sausages has soared by up to 80% in some shops over the past year, in further evidence of how inflation is hitting those on the tightest budgets the hardest. Porridge oats topped the price increase ranking among a basket of British basics measured by the consumer group Which?, with prices up by an average of 35.5% followed by skimmed milk, which was up by 33.6%, and cheddar cheese, which rose by 28.3%. - Guardian

Auditor EY plans to cut 3,000 US jobs following a failed attempt to separate its consulting and accountancy arms. The decision to reduce around 5pc of its American workforce comes after EY identified "overcapacity" in parts of the firm as it attempted to cut costs. "After assessing the impact of current economic conditions, strong employee retention rates and overcapacity in parts of our firm, we have made the difficult business decision to separate approximately 3,000 US employees," an EY spokesman said. - Telegraph

Glencore's bid for the copper miner Teck Resources has come under renewed pressure after Legal & General supported rival proposals. The asset manager has opted to vote for Teck's pre-existing plan to spin off its coal assets rather than lend support for a $23 billion merger of Glencore with its Canadian rival. - The Times

Most logistics companies cannot consider decarbonising their lorries because of a lack of infrastructure, says the trade body representing manufacturers. Analysis by the Society of Motor Manufacturers and Traders found there is not a single dedicated electric charging or hydrogen refuelling site for heavy goods vehicle on Britain's major roads. - 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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