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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: Tesla, Robinhood, finfluencers

(Sharecast News) - Tesla Inc's directors will return $735m to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla stock and challenged stock options that were granted to Tesla directors starting in June 2017. - Guardian Robinhood, the share trading app behind a controversial new wave of stock market speculation in the US, is preparing to target British investors. The New York-listed company, which does not charge commission and supercharged the craze for buying and selling "meme stocks" during the pandemic, has begun hiring for key UK roles. - Telegraph

South East Water has paid out a multimillion-pound dividend despite being tipped into a £74m pre-tax loss by a sharp increase in the cost of its debt pile. The company, which last month left thousands without water and implemented a hosepipe ban, paid £9m to shareholders even as it faced a £50m jump in borrowing costs, its annual report revealed. - Telegraph

The City watchdog is intensifying its crackdown on "finfluencers" as part of a wider overhaul after an explosion in social media adverts such as memes and TikTok videos used to promote financial products. The Financial Conduct Authority is revamping its guidance amid rapid changes in the marketing of financial services, with companies increasingly using social media platforms to promote their products, while online influencers are becoming widespread, spurring worries that consumers are facing increasing risks. - The Times

Supply problems have put the skids under Lotus Cars, with pre-tax losses rising to £141.1 million following a slump in the number of cars it could deliver. The Norfolk-based sports carmaker sold only 576 cars in 2022, compared with 1,566 in the previous year, due to "production challenges", its latest accounts show. - The Times

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Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - Guardian
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

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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