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Monday newspaper round-up: Burberry, Mastercard/Visa, British Airways

(Sharecast News) -

Burberry has become the latest luxury brand to temporarily shut its stores in Russia following Moscow's invasion of its neighbour Ukraine, after similar moves in recent days by Louis Vuitton, Hermès, Kering, Chanel and Prada. The British fashion brand has three stores in the country, including one run by a franchisee and one in Moscow's famous Red Square. It had already announced last week that it had halted deliveries to the outlets but confirmed this weekend that it was shutting them for the time being. - Guardian

Consumers will still be able to use Mastercard and Visa-branded cards for domestic transactions in Russia, the country's state-backed payments network has said, reducing the impact of the US firms' decision to pull services over the invasion of Ukraine. Russia's homegrown payments system Mir said the cardholders would still be able to access their funds, make withdrawals and domestic transfers - at least until their bank cards expire. - Guardian

Germany and France will capitalise on post-Brexit rules to force British Airways to be spun-off as a standalone airline, the chief executive of Ryanair has claimed. Michael O'Leary said that politicians and lobbyists in the Eurozone's two biggest economies are "gunning for" IAG, the FTSE 100 airlines group that owns BA. - Telegraph

The threat of strike action is looming over Britain's largest gas distribution network company. The GMB union will launch a strike ballot for more than 2,000 members at Cadent Gas after employees "resoundingly" rejected a below-inflation pay rise of 4 per cent. Union bosses said that the offer amounted to a "massive" real-terms pay cut and added that the "cost-of-living crisis is hitting Cadent workers hard". - The Times

AstraZeneca will go another £100 million over budget this year to complete its futuristic research and development centre and headquarters in Cambridge, despite having formally unveiled the site more than three months ago. The additional cost of the Discovery Centre, or Disc as it has been dubbed because of its structure, brings the total project costs to £1.1 billion, more than three times the initial estimate. - The Times

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Sunday newspaper round-up: Panama Canal, Warhammer, Thames Water
(Sharecast News) - Donald Trump is asking that the Panama Canal be returned to the US unless Panama addresses his criticism of how the waterway is managed. In a post on social media platform Truth Social, Trump described the current arrangement as a complete 'rip-off' which will "immediately stop". He also warned against that the key interoceanic route would not be allowed to fall into the "wrong hands". He also appeared to caution against possible Chinese influence in the canal. - Guardian
Friday newspaper round-up: Aldi, Richard Desmond, Collateral
(Sharecast News) - The grocery industry watchdog is to make a rare intervention in a Yorkshire sprout grower's £3.7m legal case against Aldi over the discount chain's decision to terminate a long-term supply deal. In papers filed at the high court, W Clappison Ltd, which produced sprouts for Aldi's UK arm for 13 years, said its supply agreement was ended in February last year at planting time without reasonable notice so it was unable to find new clients immediately. It said it was forced to cease sprout production and sell off its machinery. - Guardian
Friday newspaper round-up: Aldi, Richard Desmond, Collateral
(Sharecast News) - The grocery industry watchdog is to make a rare intervention in a Yorkshire sprout grower's £3.7m legal case against Aldi over the discount chain's decision to terminate a long-term supply deal. In papers filed at the high court, W Clappison Ltd, which produced sprouts for Aldi's UK arm for 13 years, said its supply agreement was ended in February last year at planting time without reasonable notice so it was unable to find new clients immediately. It said it was forced to cease sprout production and sell off its machinery. - Guardian
Thursday newspaper round-up: Water bills, Brexit, Imperial Brands
(Sharecast News) - Households in England and Wales will see their water bills rise by an average of £31 a year, as suppliers pay to fix leaky pipes and cut pollution. The industry regulator Ofwat said on Thursday it would allow companies to raise average bills will rise by £157 over five years to an average of £597 by 2030 to help pay for investment. - 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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