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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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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.

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