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Wednesday newspaper round-up: Energy suppliers, Carl Icahn, Dyson

(Sharecast News) - Energy suppliers will be forced to offer vulnerable households dedicated phone lines in a drive by the regulator Ofgem to improve poor treatment of the most disadvantaged customers. The regulator is planning a crackdown on suppliers' conduct after a slump in customer service during the energy crisis with long call waiting times and difficulty contacting companies. - Guardian Ministers have announced a clampdown on the use of cold calls to sell financial products and on technology which allows mass texting of numerous phones as part of a strategy to combat fraud, now the UK's most common crime. The new fraud strategy, a response to the massive growth of web- and phone-based scams, will alsoresult in what was billed as 400 new specialist investigators across police and the National Crime Agency recruited as part of a revamp for how the the crime is investigated. - Guardian

Carl Icahn, one of Wall Street's best-known activist investors, has become the target of a short-seller which has accused the billionaire of inflating the value of his empire. Hindenburg Research accused the hedge fund manager of operating a "ponzi-like economic structure" through his $15bn fund, Icahn Enterprises, and claimed its value had been inflated by at least 75pc. - Telegraph

Dyson is to spend £100 million on a new technology centre in Bristol as part of a five-year programme of investments totalling £2.75 billion. Sir James Dyson's vacuum cleaner and home appliances business said it would employ hundreds of software and artificial intelligence engineers at the centre to develop new products and apps. Dyson's UK operations are already staffed with more than 3,500 engineers working in research and development across sites in London and Malmesbury in Wiltshire. - The Times

Sir Martin Sorrell pocketed less than half of the bonus he could have earned last year for running S4 Capital, the digital advertising business he founded. Sorrell, 78, was paid a basic salary of £250,000 in 2022 and could have received the same amount again in bonuses. However, S4's annual report shows that he only received £100,000. - The Times

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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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