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Wednesday newspaper round-up: Deloitte, fracking, Twitter

(Sharecast News) - US freight railroad workers are close to striking over claims that grueling schedules and poor working conditions have been driving employees out of the industry over the past several years. Heated negotiations over a new union contract between railroad corporations and 150,000-member-strong labor unions have been ongoing for nearly three years. A "cooling off" period imposed by the Biden administration after it issued recommendations to settle the dispute ends on Friday. If no deal is reached, unions are threatening industrial action - the first since 1992 - and workers say they will quit an industry already facing staff shortages. - Guardian The Worcester owners have confirmed they have reached an agreement for the sale of the club in a move that looks set to save the Warriors from financial disaster if it proves successful. As reported by the Guardian on Monday, a deal has been agreed with an unidentified buyer, giving rise to optimism that Worcester's burgeoning debts of £25m - including the £6m owed to HMRC by 6 October - will betaken on and the club can avoid going into administration, which would in turn lead to relegation. - Guardian

Deloitte is creating at least 1,000 new jobs outside of London as it joins a rush of City firms expanding beyond the capital. The Big Four firm will add the new roles in Northern Ireland, Scotland, Wales and the north of England over the next five years in a boost for the country's regional economies. - Telegraph

Liz Truss is being urged to relax the limits on earthquakes caused by fracking as part of plans to kickstart an energy revolution. The Prime Minister is already poised to end the moratorium on fracking within days in a bid to make Britain energy independent by 2040. But companies say this alone will not be enough to unlock Britain's potentially vast shale gas reserves. The Telegraph understands fracking businesses are lobbying for the limits on seismic activity to be substantially increased to help kickstart the industry. - Telegraph

The FBI informed Twitter of at least one Chinese agent working at the company, US senator Chuck Grassley told a Senate hearing yesterday where a whistleblower testified, raising new concerns about foreign meddling at the influential social media platform. Peiter "Mudge" Zatko, a former hacker who served as Twitter's head of security until he was fired last year, said some Twitter employees were concerned that the Chinese government would be able to collect data on the company's users. - The Times

Drew Nelson, the former owner of Newport Wafer Fab, is reportedly close to a deal with a private equity firm to buy back Britain's biggest semiconductor manufacturer, if the government decides to unwind its purchase by the Chinese-owned business Nexperia. The investor, Palladian Investment Partners, also considered teaming up with Nelson to rescue the business last year but this was rejected by Nexperia, a key customer, shareholder and board member, because it said the terms were too punitive. - The Times

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Thursday newspaper round-up: Elon Musk, The Body Shop, Telegraph
(Sharecast News) - Popular trader recommendation websites must vet the firms they advertise and tackle fake reviews under new rules designed to protect households from cowboy builders and tradespeople. Nationally, unscrupulous traders cost homeowners about £1.4bn a year, according to trading standards authorities, a problem that is escalating as demand for home improvements, loft conversions and extensions increases. - Guardian
Wednesday newspaper round-up: Four day working week, Post Office, Linklaters
(Sharecast News) - Campaigners for a four-day working week are preparing a new pilot project on flexible working in the hope that the Labour government will be more receptive to changes in how people work. The pilot project has opened to companies to sign up for a November start, with findings to be presented to the government in the summer of 2025. - Guardian
Tuesday newspaper round-up: Meta, EDF, Tesla
(Sharecast News) - Meta has claimed news is not the antidote to misinformation and disinformation spreading on Facebook and Instagram, as the company continues to push back against being forced to pay media companies for news in Australia. Meta announced in March it would not enter into new agreements with media companies to pay for news following the end of contracts signed in 2021 under the Morrison government's news media bargaining code. - Guardian
Monday newspaper round-up: Boeing, Tata Steel, Fortress Capital
(Sharecast News) - Boeing will plead guilty to a criminal fraud charge stemming from two deadly crashes of 737 Max jetliners, after the government determined the company violated an agreement that had protected it from prosecution for more than three years, the US the government said in court filing late on Sunday. Federal prosecutors gave Boeing the choice this week of entering a guilty plea and paying a fine as part of its sentence, or facing a trial on the felony criminal charge of conspiracy to defraud the US. - 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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