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Thursday newspaper round-up: Royal Mail, Merlin Entertainments, PwC

(Sharecast News) - More than 23 million people in the UK used virtually no cash last year, while notes and coins will account for just 6% of payments within a decade, a report predicts. The findings, from the banking body UK Finance, are likely to prompt concern that millions of people could be left behind as the shift to a cashless society accelerates. - Guardian More than 115,000 UK postal workers have voted overwhelmingly for further industrial action over working conditions, ahead of four days of strikes already planned for later this month and early September. The Communication Workers Union (CWU) said almost 99% of members voted in favour of taking further strike action on a 72% turnout. - Guardian

The Government has blocked the takeover of a Bristol-based electronic design company by a Hong Kong rival in a fresh sign if Britain's increasing hostility to Chinese investment. The Business Secretary Kwasi Kwarteng, who is tipped by some Conservatives to be the next chancellor, ruled that stopping the acquisition of Pulsic, whose software can be used to build circuits, by Super Orange HK was "necessary and proportionate to mitigate the risk to national security". - Telegraph

The owner of Madame Tussauds has been hit with a winding up petition by Experian as the leisure operator seeks to bounce back from the upheaval of pandemic lockdowns. Merlin Entertainments - which also runs Alton Towers, Warwick Castle and Legoland Windsor - is facing the threat of legal proceedings from Experian, a FTSE 100 listed data company, amid a dispute over a debt. - Telegraph

A director of Ofgem has quit in protest at its decision to add hundreds of pounds to household bills this winter by changing the way it calculates the energy price cap. Christine Farnish said she had resigned because did not believe that the regulator had "struck the right balance between the interests of consumers and the interests of suppliers". - The Times

PwC's partners, who were paid more than £1 million for the first time ever this summer, will take a pay cut next year to fund rises for the accountancy group's rank-and-file staff. On average, the 995 members of the Big Four firm's top executive tier were paid £920,000 for their work in the year to end of June. That was up 12 per cent on what they received in 2021. - The Times

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(Sharecast News) - Rachel Reeves has been left facing a £50bn bill as a result of higher debt interest payments following a rout in the bond market. And City exports caution that the bill could keep climbing. Hence, the Chancellor may soon have to choose between either bending her own fiscal rules, enacting tax increases or cutting spending. The rout has seen the tiny £10bn buffer left by Reeves to meet her main fiscal rule, which requires that tax revenues cover day-to-day expenditures, evaporate. - The Financial Mail on Sunday
Friday newspaper round-up: Energy bills, ticket touting, BlackRock
(Sharecast News) - The number of people in England and Wales who sought help with energy bills jumped by 20% last year, according to Citizens Advice, which assisted 60,000 households struggling with the soaring cost of gas and electricity. That number was double the figure for 2020, the national consumer advice charity said, with problems with billing being the single most common type of issue raised with its service providers. - Guardian
Thursday newspaper round-up: Job vacancies, civil servants, Darktrace
(Sharecast News) - Vacancies for permanent jobs in the UK declined at their fastest pace for four years last month, according to a new survey that adds to the gloomy economic mood. Amid febrile markets and weak economic data, the monthly jobs report from the consultancy KPMG and the recruitment firm REC shows many firms reluctant to hire. - Guardian
Wednesday newspaper round-up: Rolls-Royce Motor Cars, Shein, JPMorgan Chase
(Sharecast News) - The UK's advertising watchdog has banned a campaign by an online investment company predominantly targeting Muslims that featured images of euros and US dollars and the words "The United States of America" in flames alongside a call to "join the money revolution". Wahed Invest Ltd, an online investment platform, ran six posters on various Transport for London (TfL) services, including the London Underground and on buses, last September and October. - 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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