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Friday newspaper round-up: Elon Musk, bankers' bonuses, Netflix

(Sharecast News) - Elon Musk is under a federal investigation related to his $44bn takeover of Twitter, the social media company has said in a court filing made public on Thursday. While the filing said he was under investigation, it did not say what the focus was, or which federal authorities were investigating. - Guardian Bankers' bonuses have doubled since the 2008 financial crash, according to research by the TUC, which accuses the government of enriching City financiers while "holding down" the pay of key workers. The unions' umbrella body said bonuses in finance and the insurance sector have reached a record £20,000 a year on average - which it says is almost one-and-a-half times the average pay collected by teaching assistants. - Guardian

Netflix will launch a cheaper subscription in the UK costing £4.99 per month from November as the streaming giant battles a jump in customer cancellations. The new "Basic with Adverts" subscription plan will launch on 3 November at 4pm in nine countries including the UK. - Telegraph

The sharp rise in borrowing costs since Kwasi Kwarteng's "mini-budget" means that most of Britain's warehouses, offices and shopping centres will lose as much as a fifth of their value over the coming two years. The warning came from Goldman Sachs, whose team of analysts sounded the alarm over the outlook for UK commercial properties, values of which they expect will be 15 per cent or 20 per cent below where they were this summer, come the end of 2024. The US investment bank's gloomy outlook will add to fears that commercial properties in the UK are on the brink of another sharp fall. - The Times

Yorkshire Water has become the latest regional monopoly supplier to be forced by the industry regulator into a £1 billion bailout by its shareholders. After a year investigating the weak "financial resilience" of the lossmaking utility, which supplies 2.3 million homes in parts of Derbyshire and Lincolnshire as well as Yorkshire, Ofwat has called on its foreign investors to pump in £940 million to pay down loans and demanded they stump up £100 million to tackle the company's poor record on sewer foul-flooding and river and beach pollution. - The Times

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Monday newspaper round-up: LSE, Ofwat, house prices...
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(Sharecast News) - Britain's largest carmaker, Jaguar Land Rover, has delayed the planned launches of its new electric Range Rover and electric Jaguar models to give it time for more testing and for demand to pick up, the Guardian can reveal. JLR has written to customers waiting for the Range Rover Electric to inform them that deliveries of the new version of the model will not start until next year, after initially aiming for late 2025. - Guardian
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(Sharecast News) - The advertising agency WPP has been asked to work up ideas for a government-endorsed advertising blitz to urge more consumers to invest in stocks through a "Tell Sid"-style campaign expected to cost tens of millions of pounds. Plans for the nationwide push were announced by chancellor Rachel Reeves on Tuesday at her Mansion House speech, as she unveiled a fresh deregulation drive meant to increase financial risk-taking across the UK to help spur growth. - Guardian
Wednesday newspaper round-up: Red tape, billionaires, diesel emissions
(Sharecast News) - Rachel Reeves has claimed that rules and red tape are acting as a "boot on the neck" of businesses and risk "choking off" innovation across the UK without bold reforms. In a speech to City bosses attending the Mansion House dinner at London's Guildhall on Tuesday evening, the chancellor heaped further pressure on regulators to allow for more risk in order to boost economic growth. - 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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