Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Wednesday newspaper round-up: Peace talks, UK GDP, Sunak, EDF, Heathrow, UK heatwave

(Sharecast News) - Russia and Ukraine are set to hold their first talks with UN and Turkish officials aimed at breaking a months-long impasse over grain exports. The four-way meeting in Istanbul comes as exports across the Black Sea continue to be blocked by Russian warships and sea mines Kyiv has laid to avert a feared amphibious assault. - The Guardian

UK production grew by 0.9% in May, driven by 1.4% growth in manufacturing and a 0.3% rise in electricity, gas, steam and air conditioning supply.

Construction output increased by 1.5% in May and is now at its highest level since monthly records began in 2010. - The Guardian

Rishi Sunak has vowed to run the economy like Margaret Thatcher if he becomes the next prime minister, telling Tory leadership rivals: "You have to earn what you spend". Speaking to The Telegraph in his first campaign interview, the former chancellor likened Baroness Thatcher's upbringing above her father's grocery shop to his childhood helping in his mother's pharmacy.

Countering claims that his refusal to promise immediate tax cuts shows he is not a true conservative, Mr Sunak said that, by prioritising inflation, he was following the Iron Lady's economic approach more than his rivals. "We will cut taxes and we will do it responsibly," he said. That's my economic approach. I would describe it as common sense Thatcherism. I believe that's what she would have done." - The Telegraph

Emmanuel Macron will have to pay up to €10.0bn to fully nationalise nuclear power giant EDF. France's economy ministry is poised to buy up the remaining 16% of the company not already owned by the state, which is expected to cost between €8.0bn and €10.0bn for the stake, according to Reuters.

The French government will have to buy out shareholders including Blackrock, Thornburg Investment Management, and Vanguard, and purchase €2.4bn of convertible bonds. Last week, France announced it would take EDF into full public ownership to secure "control of the production" of its energy supplies. - The Telegraph

Heathrow will cap passenger numbers at 100,000 a day over the peak summer season in an attempt to limit disruption at the airport. Britain's largest airport said that it had ordered airlines to "stop selling summer tickets to limit the impact on passengers".

The unprecedented cap will run until 12 September. Airlines had planned to operate flights with a daily capacity averaging 104,000 over the period, according to the airport. - The Times

Trains could be cancelled and journey times doubled as rail bosses prepare to introduce speed limits because of the hot weather. Roads might also be closed, and the NHS and other critical services are braced for disruption.

Temperatures reached 31.7C in Wisley, Surrey yesterday and weather forecasting models have suggested it is possible - although not likely - that temperatures could reach 40C in the UK next weekend. - The Times

Share this article

Related Sharecast Articles

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.