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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: Water companies, Sellafield, EY

(Sharecast News) - Hundreds of millions of pounds of local transport funding in England could be cut in next week's spending review despite having been agreed with regional mayors, putting bus, tube and tram improvements at risk. The mayors, most of whom are Labour, are engaged in a last-minute lobbying campaign to stop the Treasury raiding their transport budgets as Rachel Reeves looks for immediate savings. - Guardian Water companies in England could be banned from making a profit under plans for a complete overhaul of the system. The idea is one of the options being considered by a new commission set up by the Department for Environment, Food and Rural Affairs (Defra) amid public fury over the way firms have prioritised profit over the environment. - Guardian

The former boss of fashion giant Abercrombie & Fitch and his British partner have been arrested and face sex trafficking charges. Ex-chief executive Mike Jeffries, his partner Matthew Smith and a third man, Jim Jacobson, were arrested on Tuesday morning in Brooklyn, New York. The trio were arrested following allegations that they sexually abused young men at parties in the United States and other countries. - Telegraph

The cost of managing Britain's most hazardous nuclear waste has risen by almost a fifth to £136 billion due to a failure to set a realistic budget, the government's spending watchdog has concluded. Sellafield, which is home to about 85 per cent of the UK's nuclear waste and stores the most hazardous waste, is not delivering value for money as large projects are running behind schedule and over budget, according to the National Audit Office's latest assessment. - The Times

Dozens of staff at EY, the Big Four professional services firm, have been branded cheats by the firm and sacked for streaming more than one training video at a time to meet quotas. EY confirmed that some of its employees in the US were fired last week for trying to save time by watching multiple online training courses at one time. - 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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