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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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Thursday newspaper round-up: John Lewis Partnership, Ineos, Telegraph Media Group
(Sharecast News) - The owner of John Lewis and Waitrose has tripled profits to £126m but workers at the staff-owned retail group have missed out on a bonus for a third year in a row. The John Lewis Partnership (JLP) said sales rose 3% to £12.8bn in the 12 months to 25 January 2025, as underlying profit rose from £42m. However, the company said it was prioritising investment over the bonus with plans to spend £600m on transforming the business. - Guardian
Wednesday newspaper round-up: ONS, Toyota, Reach
(Sharecast News) - The UK's embattled statistics agency cannot reverse a pandemic-era decision to release official data on the state of the economy before financial markets open because its creaking website could crash, it has emerged. The Office for National Statistics (ONS) had sought views on whether to revert to releasing statistics - such as GDP and inflation data - at 9.30am. The releases were moved forward to 7am in March 2020 to allow investors time to digest consequential data - such as the subsequent record contraction in the economy - before the start of London stock market trading at 8am. - Guardian
Tuesday newspaper round-up: Jes Staley, Unilever, ONS
(Sharecast News) - Environmental campaigners will challenge the granting of a high-interest £3bn emergency loan to struggling Thames Water at an appeal on Tuesday, arguing the "eye-watering" costs for a short-term fix are not in the public interest. With protests planned outside the court of appeal, Charlie Maynard, a Liberal Democrat MP who represents the campaigners, will argue in a three-day hearing that the public and consumer interest is not served by the debt package, which comes with a bill of almost £1bn in interest payments and financial adviser fees. - Guardian
Monday newspaper round-up: Hiring, Starlink, Thames Water
(Sharecast News) - Companies are putting the brakes on hiring new staff amid a "subdued" economic outlook and rising wage bills, according to the latest business surveys. In signs of a weakening UK labour market, the consultancy KPMG and the trade body the Recruitment and Employment Confederation (REC) said a marked decline in the number of people being placed in permanent and temporary roles continued in February, although hiring declined at a slower pace than in January. - 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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