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Wednesday newspaper round-up: EY, Tesla, Jes Staley

(Sharecast News) - EY has scrapped plans for a radical breakup of its global operations after internal disputes over the potential structure of the new businesses. The company started laying the groundwork for separating its audit and advisory businesses - under the codename Project Everest - last year, as the big four accounting firms faced mounting criticism about conflicts of interest between the two divisions. - Guardian Ministers have been urged to ramp up spending on public transport in England and Wales to tackle the climate emergency, and to unlock a £50bn a year boost to the economy, in a report by the Trades Union Congress (TUC). The report released by the TUC, a federation representing 48 unions, argues for a radical increase in investment - calling for £18bn more a year to be spent on operating trains, trams and buses to help cut car use by 20%, improve quality of life and boost the UK economy. - Guardian

Tesla is in advanced talks to snap up part of a vast warehouse site in Milton Keynes as Elon Musk seeks to accelerate sales of its electric cars in Britain. The electric vehicle (EV) maker is preparing to sign a lease for a newly built logistics space in the city, property website React News reported. - Telegraph

The troubled investment group behind a failed bid for Audioboom, the podcast company, has launched legal proceedings against Robert Bonnier over a previously undisclosed loan it provided to the financier. All Active Asset Capital said it was suing Bonnier, one of its key associates, for his alleged failure to repay £1.3 million related to a "short-term secured loan" it had provided in March last year. - The Times

A judge in the United States has rejected a request by Jes Staley, the former JP Morgan executive, to sever the bank's lawsuit accusing him of concealing what he knew about Jeffrey Epstein, the American sex offender and financier, from two related legal cases against the bank. The decision in New York is a defeat for Staley, who had said the trial for all three cases scheduled for October 23 left him too little time to defend himself against the bank's "slanderous" accusations. - The Times

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Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - Guardian
Wednesday newspaper round-up: Thames Water, Johnson & Johnson, BoE
(Sharecast News) - Thames Water may need as much as £10bn in debt and equity investment to repair its finances, according to a representative of creditors hoping to lend the struggling utility another £3bn. London's high court heard evidence on Tuesday that suggested the UK's largest water company may need significantly more resources than the roughly £6.3bn it has previously indicated. - Guardian
Monday newspaper round-up: Zero-hours contracts, Barclays, Asos
(Sharecast News) - Hundreds of thousands of British workers are on zero-hours contracts despite being with the same employer for years, according to analysis from the TUC. The majority of zero-hours contract workers have been with their employer for more than 12 months, while one in eight have not been granted regular employment rights after more than a decade working in the same place, the organisation said. - Guardian
Friday newspaper round-up: Apple, Daily Mail, OpenAI, Homebase
(Sharecast News) - Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at $124.30bn, barely above estimates of $124.12bn. Earnings per share were $2.40, just ahead of analysts' expectations of $2.35. Shares rose more than 8% in extended trading after CEO Tim Cook indicated in an earnings call on Thursday that Apple is on the trajectory for revenue growth next quarter. - 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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