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Monday newspaper round-up: Zuber Issa, Thames Water, BAE Systems

(Sharecast News) - There is "no route to net zero" that ignores the real concerns of businesses, a cabinet minister has warned, as the government prepares to reduce financial penalties handed to carmakers not selling enough electric cars. Ministers are also looking at how cheaper loans could be introduced to help people buy an electric vehicle (EV), after a wave of job losses and closures in which carmakers blamed the onerous fines they were facing. - Guardian Fears of a global trade war have risen after Donald Trump threatened to impose 100% tariffs on countries in the Brics group if they create a new currency to rival the US dollar. Writing on his social media platform, Truth Social, on Saturday, Trump declared that he would also act if they supported another currency to replace the dollar. - Guardian

The billionaire former co-owner of Asda is on the verge of striking his first deal since breaking up the business empire built with his brother. Zuber Issa has lined up financing to pursue a deal for Petrogas Group, the UK arm of Irish forecourt giant Applegreen. It would mark Mr Issa's first takeover since his decision to carve up EG Group, the petrol forecourt empire that he ran alongside his brother Mohsin for 20 years. - Telegraph

The boss of Stellantis has resigned after overseeing a sharp drop in car sales, as the Vauxhall owner struggles with the shift to electric vehicles. Carlos Tavares stepped down from his role as chief executive of the world's fourth-largest carmaker on Sunday, with his departure accelerated following a split with the board. - Telegraph

The water regulator has blamed Moody's, the credit rating agency, for stoking the industry's financial crisis by not calling out operators such as Thames Water when they took on unsustainable debt. Ofwat has reproached Moody's for certifying Thames Water's debt as investment grade until recently, despite evidence of a fall in shareholder support and the group's poor performance over a long period. - The Times

Britain's largest defence company will take on a record number of apprentices and graduates by next year. BAE Systems, which builds the nation's nuclear submarines and fighter jets, plans to recruit more than 2,400 apprentices, undergraduates and graduates. Some 6,500 trainees will work for the FTSE 100 group, 15 per cent of its UK workforce. - The Times

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Wednesday newspaper round-up: Motor finance compensation, car manufacturers, Rebel Energy
(Sharecast News) - A court of appeal ruling that has left lenders fearing PPI-level compensation bills over the motor finance commission scandal "goes too far", the City regulator said on Tuesday. The Financial Conduct Authority (FCA) made the comments in a written submission to the supreme court on Tuesday, as part of a high-profile case being closely watched by the government. The Treasury, which tried but failed to intervene in the case, is concerned the standing decision could spook businesses and threaten investment in the UK. - Guardian
Tuesday newspaper round-up: Household bills, OpenAI, BBC
(Sharecast News) - Millions of households are bracing themselves for a raft of price increases across a range of bills - from energy and water to car tax and the TV licence - that take effect on Tuesday. With so many costs rising at once - prompting some to label this month "awful April" - the government is facing fresh calls to take action to limit the impact of some of the increases. The Liberal Democrats claimed ministers needed to "get a grip" on energy bills. - Guardian
JPMorgan starts coverage of Wise at 'overweight'
(Sharecast News) - JPMorgan Cazenove initiated coverage of Wise on Monday with an 'overweight' rating and a 1,242p price target.
Monday newspaper round-up: Scams, Aviva, retailers
(Sharecast News) - Anti-scam campaign groups are calling for police forces to be much tougher on fraudsters, who they claim are scamming millions from victims in "a penalty-free crime". The pleas are being made just days after the UK government announced it is working on an "expanded" fraud strategy as part of a "robust response" to surging reported fraud rates, which rose by 19% last year according to the Office for National Statistics. - 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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