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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: Workers' rights, Severn Trent, Superdry

(Sharecast News) - Union leaders have warned business groups against pushing Keir Starmer to water down Labour's plans to introduce sweeping reforms of workers' rights and a ban on zero-hours contracts. As the Labour leader comes under pressure from industry to scale back its shake-up of employment laws, the Trades Union Congress (TUC) said the plans were "extremely popular" with voters and good for the economy. - Guardian Severn Trent has been fined more than £2m for polluting the River Trent near Stoke, with the Environment Agency calling its storm contingency plans "woefully inadequate". Huge amounts of raw sewage were discharged into the river from Strongford wastewater treatment works near Stoke-on-Trent, Staffordshire, between November 2019 and February 2020. - Guardian

The universities' pension scheme has rejected a demand from academics to dump its investments in Israel, in a row over whether the conflict in Gaza can be branded "genocide". The University and College Union (UCU), which represents more than 120,000 academics and support staff, wrote to the Universities Superannuation Scheme (USS) at the end of last month, urging "an immediate review" of assets linked to Israel's administration. - Telegraph

The London restaurant owned by viral chef Salt Bae has defied the cost of living crisis as wealthy diners continue to splash out on steaks worth hundreds of pounds. Nusr-Et Steakhouse in Knightsbridge raked in millions of pounds in 2022 as the business cashed in on the popularity of owner Nusret Gökçe, otherwise known as Salt Bae. The celebrity chef has built a global restaurant empire ever since a viral video in 2017 showed him extravagantly cutting meat and sprinkling salt. - Telegraph

A prominent US investor is among the parties being courted by Superdry's founder as he assembles an offer to take the struggling fashion chain private. Sky News has learnt that Davidson Kempner, which has backed a number of UK retailers, is in discussions with Julian Dunkerton about backing an offer for Superdry. - Sky News

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Thursday newspaper round-up: Thames Water, mortgage costs, UK car production
(Sharecast News) - Thames Water has breached its licence to supply water to nearly 16 million people after some of its debt was downgraded to junk status. The regulator Ofwat could now fine Thames, the country's largest water monopoly, up to 10% of its annual turnover, equating to hundreds of millions of pounds. However, since the company is already teetering close to temporary renationalisation, Ofwat is likely to hold off on any immediate large fines. - Guardian
Wednesday newspaper round-up: Reckitt, Tesla, Virgin Atlantic...
(Sharecast News) - Reckitt is under pressure from top shareholders to revisit a sale of its nutrition business, following litigation and a series of other setbacks at the division that have sent the company's share price to decade lows. The FTSE 100 consumer giant acquired the Mead Johnson infant formula business in 2017 for $17bn - its largest-ever acquisition - and it has been plagued by mishaps ever since. Meanwhile, the wider group, which makes Lysol detergent and Durex condoms, has underwhelmed investors as it struggles to build back sales volumes following a period of high inflation and suppressed consumer demand. - Financial Times
Tuesday newspaper round-up: Kamala Harris, Crowdstrike, Vivendi...
(Sharecast News) - Kamala Harris has secured enough delegates from her party to clinch the Democratic presidential nomination, as she pledged to offer Americans a "brighter future" compared to the "chaos, fear and hate" proposed by Donald Trump. The US vice-president was speaking in Wilmington, Delaware, on Monday, the first full day since President Joe Biden dropped his re-election bid and endorsed her for the Democratic presidential nomination, shaking up the 2024 race for the White House. - Financial Times
Monday newspaper round-up: Biden, gambling levy, UK economy...
(Sharecast News) - Kamala Harris, the vice-president, has emerged as the frontrunner to replace President Biden as the Democratic nominee for the election against Donald Trump in November. Biden, 81, announced yesterday afternoon that he would drop out of the race. In the hours that followed, Harris, 59, was endorsed by leading Democrats, prospective rivals and the chairs of all 50 state parties. - The Times

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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