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Wednesday newspaper round-up: Workplace sickness, Google-Anthropic, Carpetright

(Sharecast News) - The hidden cost of rising workplace sickness in the UK has increased to more than £100bn a year, largely caused by a loss of productivity amid "staggering" levels of presenteeism, a report warns. Analysis by the Institute for Public Policy Research (IPPR) shows the cost of staff sickness has grown by £30bn a year to £103bn in 2023. The annual bill was £73bn in 2018, its study found. - Guardian The Competition and Markets Authority has begun a preliminary investigation into a partnership between Google and the AI startup Anthropic, marking the latest in a string of investigations into deals between big tech companies and smallerAI ones. Google invested $2bn (about £1.56bn) into Anthropic in 2023, shortly after signing a cloud computing agreement with the startup, which develops the Claude LLM and chatbot. - Guardian

Rachel Reeves' decision to end winter fuel payments gave Britons a taste of who the Chancellor is likely to hit with higher taxes in her maiden Budget. Reeves insists it won't be workers. "We will not balance the books on the backs of hardworking people," she said on July 29 as she warned of a £22bn hole in the public finances. - Telegraph

Carpetright collapsed owing an estimated £213 million to customers, suppliers and landlords, who are to be left almost entirely out of pocket. Hundreds of unsecured creditors - including Royal Mail and Microsoft - are expected to recover less than 1p in the pound of their debts, according to administrators' proposals seen by The Times. The carpet suppliers Betap and Condor were owed £1.9 million and £1.1 million respectively when Britain's biggest flooring chain collapsed last week. Microsoft was owed £3.1 million; Biffa, the waste management company, £852,000; Royal Mail, £372,000; and DHL, the logistics company, £540,000. - The Times

Ten listed company directors, deal advisers and senior lawyers have been branded dishonest and deceitful in a stock market scandal kept under wraps for 12 years but disclosed for the first time on Tuesday. The Takeover Panel revealed the scam and named the culprits, who include Richard Balfour-Lynn, a well-known former figure in the property and hotels world, and Julian Treger, the notorious activist investor from the early 2000s. - The Times

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Wednesday newspaper round-up: Motor finance compensation, car manufacturers, Rebel Energy
(Sharecast News) - A court of appeal ruling that has left lenders fearing PPI-level compensation bills over the motor finance commission scandal "goes too far", the City regulator said on Tuesday. The Financial Conduct Authority (FCA) made the comments in a written submission to the supreme court on Tuesday, as part of a high-profile case being closely watched by the government. The Treasury, which tried but failed to intervene in the case, is concerned the standing decision could spook businesses and threaten investment in the UK. - Guardian
Tuesday newspaper round-up: Household bills, OpenAI, BBC
(Sharecast News) - Millions of households are bracing themselves for a raft of price increases across a range of bills - from energy and water to car tax and the TV licence - that take effect on Tuesday. With so many costs rising at once - prompting some to label this month "awful April" - the government is facing fresh calls to take action to limit the impact of some of the increases. The Liberal Democrats claimed ministers needed to "get a grip" on energy bills. - Guardian
JPMorgan starts coverage of Wise at 'overweight'
(Sharecast News) - JPMorgan Cazenove initiated coverage of Wise on Monday with an 'overweight' rating and a 1,242p price target.
Monday newspaper round-up: Scams, Aviva, retailers
(Sharecast News) - Anti-scam campaign groups are calling for police forces to be much tougher on fraudsters, who they claim are scamming millions from victims in "a penalty-free crime". The pleas are being made just days after the UK government announced it is working on an "expanded" fraud strategy as part of a "robust response" to surging reported fraud rates, which rose by 19% last year according to the Office for National Statistics. - 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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