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Tuesday newspaper round-up: Royal Mail, private renters, Inmarsat

(Sharecast News) - Long-running talks between Royal Mail and the Communication Workers Union are on the brink of collapse, with the company's board thought to have threatened to put the loss-making postal service - the regulated UK entity that delivers to every address in the country - into a form of administration if a deal cannot be agreed. A politically explosive move to declare the postal service insolvent is regarded by Royal Mail's board as a last resort but has been raised with the union already. - Guardian Private renters face paying an additional £1bn in gas and electricity bills because of delays in the introduction of new standards forcing landlords to make their properties more energy efficient. The government has been criticised for dragging its feet on enacting new proposals that would require landlords to improve properties to at least a C rating under the energy performance certificate (EPC) scheme. - Guardian

Andrew Bailey has blamed a wave of early retirement for forcing up interest rates and inflation as Britain battles the steepest price rises of any large rich country. The Governor of the Bank of England said that a sharp decline in the number of people in the workforce was "part of the reason why we have had to raise Bank Rate by as much as we have". - Telegraph

A combined OneWeb and Eutelsat is set to list on the London Stock Exchange this year in a boost to the government's attempts to secure more large tech listings. Sunil Bharti Mittal, the Indian billionaire telecoms tycoon and executive chairman of OneWeb, whose conglomerate rescued the satellites company three years ago alongside the British government, said a secondary listing was a commitment negotiated by ministers, as part of plans for OneWeb to merge with Eutelsat of France, that "we will deliver". - The Times

Revenue at Inmarsat rose by 9 per cent last year to $1.47 billion, propelled by the satellite communications company's aviation business as the travel industry opened up after the pandemic. Its earnings before interest, tax and other charges jumped by 15 per cent to $850 million in 2022, despite component shortages hitting the availability of satellite phones. - The Times

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Thursday newspaper round-up: Border controls, McKinsey, KPMG
(Sharecast News) - New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson's Brexit deal could add 10% to import costs over the first year. - Guardian
Wednesday newspaper round-up: Shoplifting, EnQuest, Klarna
(Sharecast News) - The government is investing more than £55m in expanding facial recognition systems - including vans that will scan crowded high streets - as part of a renewed crackdown on shoplifting. The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being forced to wear a tag to ensure they do not revisit the scene of their crime, under a new standalone criminal offence of assaulting a retail worker. - Guardian
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - 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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