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Tuesday newspaper round-up: Tips, eBay, business confidence

(Sharecast News) - Unions fear some restaurants and other businesses may slip through the net of new legislation over the fair distribution of tips and service charges that comes into force in Great Britain on Tuesday. The government said the long-planned changes would mean workers would be in line for about £200m that may otherwise have been retained by employers. Under the new rules 100% of tips - by cash or card - and any service charge levied on customers must be passed on to staff working in restaurants, cafes, hotels, hairdressers or taxi firms. - Guardian Online retailer eBay has scrapped fees for private sellers across almost all of its categories as it attempts to keep fast-growing rivals such as Depop and Vinted at arm's length. The move means eBay's UK sellers no longer have to pay transaction fees, except for cars, motorcycles and other vehicles. In April this year, eBay removed fees for private sellers of pre-owned clothes, and the company said it was "now evolving the experience even further". - Guardian

Families with children will still be worse off than pensioners even after Rachel Reeves's raid on winter fuel payments, a Left-leaning think tank has claimed. The Resolution Foundation has warned that working-age families are more likely than older people to struggle with their energy bills in the coming months, notwithstanding the Chancellor's decision to scrap the £300 payment for millions of pensioners. - Telegraph

Confidence among business leaders has drained away in advance of the autumn budget as they weigh up the prospect of higher taxes and stricter employment regulations. The Institute of Directors' economic confidence index, which measures business leaders' optimism about the economic climate, registered a decline from -12 in August to -38 in September. The index also recorded a slide in directors' investment intentions, which have steadily fallen over the summer, from 36 in July to 23 in August, down to -6 in September. - The Times

Anna Anthony is to become the first female boss of a big four professional services firm in the UK after she was selected to take over as the new managing partner of EY. Anthony will start in her new role, leading EY's business in the UK and Ireland, on January 1. She will succeed Hywel Ball, who is stepping down after being managing partner since 2020. - The Times

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Friday newspaper round-up: Shadow banking sector, Soho House, X
(Sharecast News) - The UK Treasury has a "limited grasp" of concerns linked to the booming shadow banking sector and may not be prepared for risks the unregulated industry poses to financial stability, peers have said. While a lack of data makes it hard to say whether the $16tn (£12tn) non-bank financial sector could bring the wider financial system to its knees, officials do not seem to be alive to the potential risks, according to a Lords financial services regulation committee report. - Guardian
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(Sharecast News) - Anthropic is planning a $10bn fundraise that would value the Claude chatbot maker at $350bn, according to multiple reports published on Wednesday. The new valuation represents an increase of nearly double from about four months ago, per CNBC, which reported that the company had signed a term sheet that stipulated the $350bn figure. The round could close within weeks, although the size and terms could change. Singapore's sovereign wealth fund GIC and Coatue Management are planning to lead the financing, the Wall Street Journal reported. - Guardian
Wednesday newspaper round-up: Venezuela, Faculty, Heathrow
(Sharecast News) - Donald Trump has said Venezuela will be "turning over" $2bn worth of Venezuelan crude to the United States, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts. "This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!" Trump said in a post online. - Guardian
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(Sharecast News) - Insolvent recruitment businesses shorn of their debts then reacquired from administration by the directors or shareholders that presided over their demise are costing the exchequer tens of millions of pounds in lost taxes, a Guardian analysis suggests. The practice of "phoenixism" - the art of liquidating a company and allowing the directors to rise from the ashes with a new entity, free of debts - is estimated by HM Revenue and Customs (HMRC) to have cost taxpayers about £800m a year. - 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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