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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.

Thursday newspaper round-up: Drax, French air traffic, Arm

(Sharecast News) - Drax has been accused of costing consumers more than £600 million after choosing not to run a biomass power plant unit that would have supplied electricity at well below market prices during the energy crisis. Instead it burnt biomass in three other units that were able to cash in on high market prices and also profited by selling some biomass pellets to other companies instead of burning them, an investigation by Bloomberg claimed. - The Times Strikes by French air traffic controllers have fuelled a sharp rise in flight delays across Europe, creating chaos for passengers and threatening to dent the sector's recovery. Walkouts by staff have pushed up the number of delayed flights on the continent by 36pc in the year to date, according to figures from air traffic manager Eurocontrol. Air traffic control (ATC) capacity and staffing issues accounted for more than half of the disruption, Eurocontrol has found. - Daily Telegraph

The owners of British chip designer Arm are seeking a record float valuation for a UK company when it lists in New York. Softbank, Arm's Japanese owners, are hoping for the firm to be valued at £55billion when the chip maker is returned to the public stock markets possibly as early as next month. Sources said the British company, whose products feature in about 90 per cent of the world's smartphones, could be worth between £50billion and £55billion as SoftBank drums up interest from investors. - Daily Mail

More people in the UK are missing payments for essential bills, including for energy, water or council tax, according to a consumer group, as the cost of living crisis continues to hurt household finances. Which?'s consumer insight tracker found that 2.4m UK households missed or defaulted on essential payments, including for housing, loans or credit cards, in the month to 13 July, returning to the high levels seen last winter. - Guardian

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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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