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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: Tariffs, UK gas plants, xAI

Wed 18 Jun 2025 07:24

(Sharecast News) - Donald Trump is threatening to keep 25% tariffs on some or all of its steel imports from the UK unless it gives specific guarantees over the Indian-owned steelmaking plant at Port Talbot in south Wales, sources have told the Guardian. An agreement to reduce tariffs on UK car exports to the US and scrap them for the aerospace sector was signed off by the US president and Keir Starmer on Monday, on the sidelines of the G7 summit in Canada. - Guardian More UK gas plants will be in line for windfall payments to help keep the lights on this winter after generators received multimillion-pound payouts last winter. Britain's energy system operator expects the UK's winter power supplies to reach their highest level in five years, in part due to a rising number of gas plants willing to generate electricity during the colder months. - Guardian

Britain will rely on electricity from France to guard against the risk of blackouts this coming winter, officials have said. The National Energy System Operator (Neso), which oversees Britain's electricity grid, said it would import power from France and other nearby European neighbours this winter to help backstop the network. - Telegraph

The already frosty relationship between Unilever and Ben & Jerry's looks set to get colder with the appointment of a contentious new ice cream boss. Unilever has proposed Peter ter Kulve to head the Magnum Ice Cream Company, its soon-to-be spun-off ice cream division that will house Ben & Jerry's, Cornetto and Wall's. - The Times

Elon Musk's artificial intelligence company xAI is on the cusp of raising $9.3 billion despite his recent clash with President Trump. The $5 billion debt and $4.3 billion equity deal had been overshadowed by the billionaire's very public falling out with his former political ally but the fundraise appears to suggest that this has not permanently deterred investors from backing Musk's business ventures. - The Times

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