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Monday newspaper round-up: Entain, rail tickets, Rolls-Royce

(Sharecast News) - The owner of Ladbrokes, Entain, has been accused of "dishonest" lobbying after it funded an operation mobilising people to complain to their MP about proposals to change gambling laws. The government last month unveiled plans for tighter regulation, including measures it said would make gambling safer but would also reduce revenue for brands such as Coral and PartyCasino, owned by Entain. - Guardian The cheapest rail tickets can no longer be bought from all station booking offices, as passengers are forced to use machines or shop online for the best fares. Rail bosses have begun barring ticket office staff from selling advanced fares, in a reversal of reforms designed to make it easier for passengers to buy the cheapest tickets. - Telegraph

Britain's tax system is riddled with "perverse" incentives and punishing levies that must be reformed to make work pay, the head of a powerful parliamentary committee has warned. Harriett Baldwin, Conservative chairman of the Treasury Select Committee (TSC), said "horrible cliff edges" in the current system had left many questioning whether an extra hour of work was worth it. - Telegraph

The new chief executive of Rolls-Royce has delivered another damning critique of its performance, saying that one of its core divisions has been "grossly mismanaged". Tufan Erginbilgic, 63, took the top job at the aerospace and engineering group at the start of this year and weeks later infamously described the group as a "burning platform". In his latest broadside, the former BP executive took aim at the performance of its power systems division, which makes diesel and gas engines for use in superyachts, trains and mining lorries, and for back-up power generation. - The Times

The owner of Wagamama is facing pressure to split itself up, with its embattled management team expected to be questioned about pay and performance at the annual meeting this week. TMR Capital has become the latest investor to call for an overhaul of The Restaurant Group, after taking a small stake this month. The Florida-based hedge fund has approached the group, which also owns Brunning & Price, Frankie & Benny's and Chiquito, with proposals to sell off all its businesses except Wagamama, according to The Sunday Telegraph. The fund wants the group to expand Wagamama before taking it private in a sale. - The Times

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Sunday newspaper round-up: Rentokil, Ukraine, Crowdstrike
(Sharecast News) - BT's former chief executive officer, Philip Jansen, is plotting to takeover Rentokil Initial with the help of private equity. As part of the acquisition, Jansen would take over as executive chairman. In particular, the corporate dealmaker and his financial supporters would focus on making Rentokil's 2022 purchase of US peer Terminix work. In a second phase, the company would move on to acquiring other US companies in the same sector. - Sunday Times
Thursday newspaper round-up: Aslef, unemployment, Microsoft
(Sharecast News) - The co-founders of Silicon Valley's most prominent venture capital firm have announced their support for Donald Trump's bid for re-election, and plan to make substantial donations to back him further. Ben Horowitz and Marc Andreessen, the heads of Andreessen Horowitz, commonly known as A16Z, revealed their plans in a sprawling 90-minute podcast, in which they argued that the future of "American innovation" required a Trump victory. - Guardian
Wednesday newspaper round-up: Harland & Wolff, Octopus Energy, Microsoft
(Sharecast News) - Local councils will have to adopt mandatory housing targets within months under planning reforms to be unveiled on Wednesday as part of Keir Starmer's first king's speech, which the prime minister says will be focused on economic growth. Starmer will introduce a package of more than 35 bills on Wednesday, the first Labour prime minister to do so in 15 years, as he looks to put the economy at the centre of his first year in office. - Guardian
Tuesday newspaper round-up: Elon Musk, Julian Dunkerton, SSE/TotalEnergies
(Sharecast News) - Elon Musk has said he plans to give $45m a month to a Super Pac focused on electing Donald Trump, starting in July, the Wall Street Journal has reported. The tech billionaire, who endorsed Trump two days ago, has already donated what was described as "a sizable amount" to the America Pac, though the actual amount of the donation will not be made public in election filings until 15 July, Bloomberg reported. - 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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