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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: Virgin Orbit, Tesla, Cazoo

(Sharecast News) - Virgin Orbit, the satellite launch company founded by British billionaire Richard Branson, will permanently cease operations, just months after a major mission failure. The California-based firm, which had already filed for Chapter 11 bankruptcy protection in the United States in early April, has auctioned off its main assets, recovering just over $36m. That figure is barely 1% of the value the company reached in late 2021 on Wall Street, when it was valued at $3.5 billion. - Guardian Office workers in central London are spending on average 2.3 days a week in the workplace, according to a report that warns against a wholesale switch to working from home. The thinktank Centre for Cities carried out polling of office workers in the capital and found they were spending 59% of the time in their workplace compared with pre-Covid levels. - Guardian

Sadiq Khan should slash tube fares on Mondays and Fridays to entice more people back to the office, according to a leading think-tank. The Centre for Cities said the work from home "experiment" risked destroying London's status as Britain's growth engine and hurting younger workers. - Telegraph

Tesla will "strongly consider" building its next gigafactory in England, Elon Musk has said. Mr Musk said his electric car company was preparing to look for a location to build a new battery factory later this year and would assess England as an option. - Telegraph

Asked if he would take his online used car retailer public back in the autumn of 2020, Alex Chesterman was unresolved. "We'll think about it at some point in future," he replied, "but not for the time being." But plans accelerated. Cazoo listed in the United States just ten months later as part of a $7 billion blank-cheque merger, at the height of the boom around special purpose acquisition companies, or Spacs. - 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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