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Wednesday newspaper round-up: John Lewis, Vodafone, Asos

(Sharecast News) - The boss of John Lewis will face a confidence vote by staff members on Wednesday as the business considers the option of bringing in outside investment in a change that could threaten the decades-old employee-owned model. Chairman Sharon White is considering radical ways to bring in up to £2bn to help secure the future of the John Lewis Partnership, including diversifying into building flats for rent above shops, after reporting hefty losses from its chain of department stores and Waitrose supermarkets. - Guardian Banking start-ups and building societies risk being forced to set aside hundreds of millions of pounds of customers' money under plans to shield taxpayers if there is a new financial crisis. The Bank of England is considering new rules that would saddle so-called challenger banks with a wave of extra costs in an attempt to ensure depositors can be paid quickly should a lender go bust. - Telegraph

Vodafone's talks to merge its UK business with that of Chinese-owned rival Three face an "extremely difficult" conclusion amid calls for any deal to be investigated on national security grounds. Three's owner CK Hutchison, controlled by 94-year-old Hong Kong billionaire Li Ka-Shing, and FTSE-listed Vodafone hope to push through a merger of their UK mobile units in a deal valuing the combined business at about £15bn. - Telegraph

Several Asos employees allegedly quit the fashion firm after an investigation into workplace misconduct uncovered incidents that led to disciplinary action being taken against certain staff but "failed to properly reprimand bullying male managers". In 2021, Asos launched an internal investigation, supported by the law firm Lewis Silkin, after a series of anonymous posts were published on Instagram in spring 2020 levelling allegations of sexual misconduct at senior staff within the retailer. It was accused of being a "boys' club" and allowing inappropriate sexual behaviour in the workplace. - The Times

European gas prices could rise in the second half of this year and nearly treble from present levels in the winter, according to Goldman Sachs. Analysts at the US investment bank said that lower-than-expected prices in recent months following a mild winter could make European households more likely to increase their gas usage. - 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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