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Thursday newspaper round-up: Asda, Post Office, M&S, Frasers Group

(Sharecast News) - The owners of Asda are facing mounting pressure after figures showed the struggling supermarket chain's share of the grocery market reached a "new nadir" as sales fell sharply this summer. The grocer's sales fell 6.4% in the three months to 10 August, equivalent to more than £2bn in annual lost revenues, as it became the only member of the traditional "big four" supermarkets to see sales shrink, according to analysts at NIQ. - Guardian Rachel Reeves is coming under renewed pressure to end the two-child benefit limit in October's budget, after the Guardian revealed the chancellor is preparing to keep it in place. MPs and anti-poverty campaigners are warning that any delay in scrapping the policy will keep hundreds of thousands of children in poverty, with just weeks until Reeves unveils her first major fiscal package. -Guardian

The Post Office has spent more than £250m on legal fees linked to the Horizon IT scandal, a sum almost equivalent to the compensation paid out to the victims. Data obtained under the Freedom of Information Act revealed that the company had paid £256.9m to law firms and barristers' chambers in the last decade, specifically in relation to the Horizon scandal. - Telegraph

Marks & Spencer is pushing to remove additives from its ready meals and sandwiches amid an outcry over so-called ultra-processed foods (UPFs). The supermarket is in heated discussions with food manufacturers in an effort to get rid of ingredients such as stabilisers, acidity regulators, antioxidants and emulsifiers from products sold under M&S's Eat Well label, according to The Grocer. Such additives have long been common in supermarket products but have attracted fierce criticism recently over concerns they could be negatively impacting people's health. - Telegraph

Frasers Group is stepping up its property-buying spree by adding another shopping centre to its portfolio. The FTSE 100 retailer majority-owned by Mike Ashley, is under offer to buy Fremlin Walk, an outdoor shopping centre, in Maidstone, from M&G Real Estate. The 350,000 sq ft scheme, which opened in 2005, is home to tenants including H&M, Boots, JD Sports and Pandora and generates an annual gross income of £4.3 million. In the autumn, a multi-brand anchor shop, which will be occupied by Frasers, Flannels and Sports Direct, store is to open. - 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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