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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.

Tuesday newspaper round-up: Tesla, Robinhood, finfluencers

(Sharecast News) - Tesla Inc's directors will return $735m to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla stock and challenged stock options that were granted to Tesla directors starting in June 2017. - Guardian Robinhood, the share trading app behind a controversial new wave of stock market speculation in the US, is preparing to target British investors. The New York-listed company, which does not charge commission and supercharged the craze for buying and selling "meme stocks" during the pandemic, has begun hiring for key UK roles. - Telegraph

South East Water has paid out a multimillion-pound dividend despite being tipped into a £74m pre-tax loss by a sharp increase in the cost of its debt pile. The company, which last month left thousands without water and implemented a hosepipe ban, paid £9m to shareholders even as it faced a £50m jump in borrowing costs, its annual report revealed. - Telegraph

The City watchdog is intensifying its crackdown on "finfluencers" as part of a wider overhaul after an explosion in social media adverts such as memes and TikTok videos used to promote financial products. The Financial Conduct Authority is revamping its guidance amid rapid changes in the marketing of financial services, with companies increasingly using social media platforms to promote their products, while online influencers are becoming widespread, spurring worries that consumers are facing increasing risks. - The Times

Supply problems have put the skids under Lotus Cars, with pre-tax losses rising to £141.1 million following a slump in the number of cars it could deliver. The Norfolk-based sports carmaker sold only 576 cars in 2022, compared with 1,566 in the previous year, due to "production challenges", its latest accounts show. - 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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