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Thursday newspaper round-up: Goldman bankers, train strikes, Uber

(Sharecast News) - Goldman Sachs bankers are reportedly at risk of having their bonus pool slashed by up to 40%, in what could be the lender's largest cut to payouts since the 2008 financial crisis. The bank is still in the process of deciding the size of its bonus pools for 2022, but the prospective cut could mean its 3,000 investment bankers endure the most significant drop in variable pay among their peers, according to the Financial Times, which first reported the news. - Guardian Germany has snubbed British-backed Eurofighter jets in favour of a €10bn deal for US-made F-35 aircraft as it orders a fleet capable of carrying a nuclear arsenal. The 35 planes will carry American atomic weapons based in Germany, replacing ageing Tornado warplanes. - Telegraph

Train strikes are almost guaranteed to ruin the rest of Christmas and return to work in the New Year as warring bosses and union leaders enter a "cooling off period". Mick Lynch, general secretary of the Rail, Maritime and Transport workers union (RMT), will on Thursday be warned by ministers and rail chiefs that they will not back down in the response to his union's hardline tactics. - Telegraph

More than a million households and businesses have signed up to a National Grid scheme that pays them to reduce their electricity usage at peak times to help avoid blackouts. However, the fall in demand that can be achieved from these consumers is still significantly lower than the level that may be required to avert power cuts in a crisis, the company admitted. - The Times

Profits at Uber's London arm rose by 96 per cent last year as the easing of Covid-19 restrictions allowed it to charge more for taxi rides. Uber London, the licensed operator for the ride-hailing group in the capital, said profit margins had improved in 2021 compared with the previous year, filings show. This was because it had not made any profit on certain rides during a larger portion of 2020 because of lockdowns. - The Times

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(Sharecast News) - Britain's only remaining coal power plant at Ratcliffe-on-Soar in Nottinghamshire will generate electricity for the last time on Monday after powering the UK for 57 years. The power plant will come to the end of its life in line with the government's world-leading policy to phase out coal power which was first signalled almost a decade ago. - Guardian
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(Sharecast News) - Rachel Reeves is pushing for the UK's tax and spending watchdog to upgrade its national growth forecasts to reflect the economic boost Labour says can be achieved from its blitz of planning reforms. In a development that could open up additional spending headroom for the chancellor before next month's budget, the Treasury has held talks with the Office for Budget Responsibility to try to persuade its officials that unblocking the planning system could drive up growth. - Guardian
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(Sharecast News) - Business leaders have warned that the government's plans for a major global investment summit are in danger of falling flat, amid growing frustrations over high costs of involvement and its timing two weeks before the budget. As a central plank in Labour's proposals to drive up investment in Britain, the party pledged in the general election campaign to host the summit within the first 100 days of winning power to show that the UK would be "open for business" under a new government. - 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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