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Wednesday newspaper round-up: International air fares, executive pay, Asos

(Sharecast News) - International air fares are likely to keep climbing from their current highs over the next 10-15 years, with the cost of sustainable fuels expected to drive up ticket prices, according to the global airlines body Iata. Extraordinary demand for travel since the Covid pandemic has led to steep fare rises on many routes, and Iata said consumers could expect to pay more as airlines increase the usage of scarce "greener" jet fuels in response to government mandates to cut aviation's carbon emissions. - Guardian Companies at the centre of the cost of living crisis have paid millions to their chief executives as households struggle with soaring bills. Sainsbury's and Marks & Spencer were joined by National Grid in handing huge pay packets to their bosses, according to annual reports released on Tuesday. - Guardian

Fears of a Labour tax raid after the next general election have prompted some business owners to accelerate plans to sell up, a new survey has found. Two thirds of UK owners of businesses with a turnover of at least £5m are preparing plans to exit their firm, according to research by wealth manager Evelyn Partners. - Telegraph

Lloyds Banking Group has threatened to put the owner of the Daily and Sunday Telegraph into administration after the breakdown of talks with the Barclay family, the owner of the newspapers. A restructuring and advisory group has been lined up as receivers. Sources indicated that insolvency practitioners from the firm could be appointed within days if talks are not resumed and an 11th-hour deal struck. - The Times

Suppliers to Asos have started to sever ties with the troubled retailer after credit insurers withdrew cover amid concerns over its falling profits. Asos - founded in 2000 under the name As Seen On Screen, selling imitations of clothes worn by television and film celebrities - was regarded as a trailblazer for fast-fashion thanks to its focus on twentysomething, smartphone-savvy shoppers and its swift service, which helped it to steam ahead of bricks-and-mortar rivals. - The Times

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Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - Guardian
Sunday newspaper round-up: Etihad float, Shein, Thames Water
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Friday newspaper round-up: Gambling sector, FOS, Amazon
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
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

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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