Skip Header
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.

Monday newspaper round-up: Ineos, Felixstowe, Britishvolt

(Sharecast News) - Chief executives of the UK's 100 biggest companies have seen their pay jump by 39% to an average of £3.4m, according to research by the High Pay Centre thinktank and the Trades Union Congress (TUC). The median average pay of CEOs of companies in the FTSE 100 index rose to £3.4m in 2021, compared with £2.5m in 2020 during the height of the coronavirus pandemic when many bosses took a voluntary pay cut as they placed millions of employees on furlough. CEO pay has also surpassed the £3.25m median recorded in 2019, before the pandemic. - Guardian Billionaire Brexiter Sir Jim Ratcliffe's petrochemicals company Ineos has made an almost £500m profit thanks to soaring energy prices that are hammering struggling households. Ineos UK E&P Holdings, the oil and gas division of Ratcliffe's empire, reported a profit of £474m in 2021 compared with a loss of £226m in 2020, according to new filings at Companies House. - Guardian

Property developer Nick Candy has sought a worldwide asset freeze against a former business partner in a fraud case at the High Court. The 49-year-old investor is suing Robert Bonnier, a former dot-com multi-millionaire, and a tech company he controls for alleged fraud. r Bonnier is the largest investor in Aaqua, a Dutch social media company which Mr Candy backed last year. - Telegraph

An eight-day strike at the Port of Felixstowe, Britain's biggest gateway to global trade, could disrupt supplies to the nation's supermarkets and exports by the country's biggest industrial groups through to Christmas, experts are warning. There are fears that consumers could face fresh shortages of some goods and even higher prices, on top of the galloping inflation already hobbling the UK. - The Times

The future of Britishvolt, the ambitious plan to build a £3.8 billion electric battery "gigafactory" on the coast of Northumberland, is at a crossroads after a botched management succession plan left it without a permanent chief executive. The company, which has talked of producing batteries to power hundreds of thousands of electric vehicles a year and of creating 3,000 directly employed jobs, has been rocked by the resignation of Orral Nadjari, its chief executive and co-founder. - The Times

Share this article

Related Sharecast Articles

Sunday newspaper round-up: EU tariffs, Begbies Traynor, Burberry's
(Sharecast News) - The US President announced that imports from the EU and Mexico would both be taxed at 30% commencing on 1 August. The announcement was a surprise for both Brussels and the US trade representative, Jamieson Greer, as both believed that they had reached a deal that would be acceptable to both sides. EU trade ministers' previously scheduled Monday meeting will now see them come under pressure to show a "tough" reaction. - Guardian
Friday newspaper round-up: Speciality Steel UK, Canada tariffs, X and Meta
(Sharecast News) - Ministers are considering options to step in to save another major steel plant if its parent company collapses into administration after a key court case next week. The business secretary, Jonathan Reynolds, is understood to be looking at what the government can do to support Speciality Steel UK (SSUK) - part of the Liberty Steel Group owned by Sanjeev Gupta - should it be faced with possible closure after Wednesday's insolvency hearing. - Guardian
Thursday newspaper round-up: Thames Water, high streets, X boss
(Sharecast News) - Thames Water paid almost £2.5m to senior managers from an emergency loan that was meant to be used to keep the failing utilities company afloat - and has refused to claw back the payments, newly released documents reveal. The struggling water supplier paid bonuses totalling £2.46m to 21 managers on 30 April. - Guardian
Wednesday newspaper round-up: Wealth tax, net zero economy, Sizewell C
(Sharecast News) - The London stock market risks "drifting into irrelevance" without government and regulatory reforms, ranging from tax breaks for stock market listings to looser bonus rules for directors, a lobbying group has said. The 20 recommendation put forward by the Confederation of British Industry (CBI), which lobbies on behalf of UK businesses, suggest financial incentives, marketing campaigns and boardroom pay are central to guaranteeing the future success of the London Stock Exchange, which has been losing stock market listings and floats to foreign rivals. - 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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.