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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.

Friday newspaper round-up: Gatwick, Twitter, housebuilders

(Sharecast News) - Gatwick airport will reduce its summer capacity to ward off potential chaos, after dozens of last-minute cancellations wrecked the travel plans of holidaymakers over the platinum jubilee and half-term holiday. London's second busiest airport will limit the number of daily take-offs and landings to 850 in August - about 50 more than the average in early June, but more than 10% below its pre-pandemic maximum. - Guardian Elon Musk met directly with employees at Twitter on Thursday for the first time since he reached a deal to acquire the company in April, focusing on "freedom of speech" in an online address. The billionaire had moved to purchase Twitter for $44bn in April but has since been critical of the company, threatening to put the deal on hold over concerns about bots, or fake accounts, that exist on the app. - Guardian

Housebuilders will need more than bullish rhetoric to budge investors - the sector is priced for catastrophe. A rise in interest rates yesterday to a 13-year high and warnings that inflation could reach an eye-watering 11 per cent this year has caused the market to dig in its heels. For Bellway, the prospect of home ownership being pushed further out of reach by a lack of affordability caused a sell-off that has left the shares trading at their lowest since September 2020. In fact, at just over five times forward earnings, the FTSE 250 constituent is priced almost as feebly as the day of the first lockdown and close to its cheapest in a decade. - The Times

Businesses should give greater opportunities to those "at the edges" of the labour market to help tackle inequality, a senior minister told leaders at The Times CEO Summit. Michael Gove, the secretary of state for levelling up, housing and communities, called on chief executives to "open up opportunities to those people who have been overlooked and undervalued in the past". - The Times

Drivers should be spared road charges during rail strikes to prevent cities turning into "ghost towns", the chairman of the AA has said. The UK's biggest strikes in 30 years are expected to cut off entire towns and cities as they shut down 80 per cent of Britain's rail services next week. Parking charges, congestion and clean air zones, as well as unnecessary road works, should be halted to ease the burden of thousands who will be forced to drive into work, Edmund King told The Telegraph. - Telegraph

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(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
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(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
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(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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