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Wednesday newspaper round-up: Morrisons, Thames Water, Matalan

(Sharecast News) - Morrisons is closing a fruit-packing plant in Bradford, putting 450 jobs at risk in the supermarket's home city where it traces its roots back to 1899. The debt-laden supermarket chain, which is battling to save costs after a takeover in October 2021 by the American private equity group Clayton Dubilier & Rice, said it was moving operations from the Cutler Heights area of the West Yorkshire city - its first ever fruit-packing plant - to another plant in Thrapston, Northamptonshire, and a distribution centre in Wakefield in the second part of this year. - Guardian London's mayor Sadiq Khan "lacks the legal power" to extend the ultra-low emission zone (Ulez) to the whole of the capital, five Conservative-led councils have argued in the high court. Lawyers for four outer London boroughs - Bexley, Bromley, Harrow and Hillingdon - and Surrey county council said that "key information was not disclosed" in consultations over the proposed expansion of the Ulez. - Guardian

A £1bn cash injection will not be enough to steady the ship at crisis-hit Thames Water, the industry regulator has warned. Ofwat said the cash that Thames is currently seeking from investors is only expected to get the troubled company through to the end of March 2025, with further injections needed for a lasting turnaround beyond that. - Telegraph

The planned £4 billion sale of Center Parcs is said to be hanging in the balance after a number of prospective bidders dropped out of the race amid a sharp downturn in private equity dealmaking. First-round bids were due towards the end of June, with Brookfield Property Partners, which has owned Center Parcs since 2015, taking a handful of parties through to the second stage. - The Times

Matalan has been accused of employing "cowboy buying practices" by a group of Asian suppliers after the retailer reportedly asked for price cuts of 20 per cent on some clothing orders. The manufacturers, who spoke to The Times on condition of anonymity, claimed that the discount fashion and homeware chain is engaged in some of the "most aggressive, unreasonable buying practices" they had ever seen. - The Times

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Sunday newspaper round-up: Middle East, Aston Martin, Defence
(Sharecast News) - Britons must accept that their country was now involved in the Middle East conflict, Tobias Ellwood said. The former defence minister warned that "nobody was in full control" of the growing conflict as more and more countries were sucked in. Ellwood also said that Tehran's strike had taken the conflict into a "new dangerous territory". - Sunday Telegraph
Friday newspaper round-up: Everton, AstraZeneca, Amazon
(Sharecast News) - Everton has paid about £30m in interest charges to an opaque lender associated with a tax exile, corporate records suggest. The charges appear to have reached about £438,000 a week, according to the troubled Premier League club's most recent set of accounts, a figure more than three times the reported wages of the Everton and England goalkeeper Jordan Pickford. - Guardian
Thursday newspaper round-up: Border controls, McKinsey, KPMG
(Sharecast News) - New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson's Brexit deal could add 10% to import costs over the first year. - Guardian
Wednesday newspaper round-up: Shoplifting, EnQuest, Klarna
(Sharecast News) - The government is investing more than £55m in expanding facial recognition systems - including vans that will scan crowded high streets - as part of a renewed crackdown on shoplifting. The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being forced to wear a tag to ensure they do not revisit the scene of their crime, under a new standalone criminal offence of assaulting a retail worker. - 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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