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Wednesday newspaper round-up: Starbucks, JPMorgan, Santander

(Sharecast News) - Rachel Reeves is unveiling plans to create "Europe's Silicon Valley" between Oxford and Cambridge as she stakes the government's success on kickstarting economic growth and putting more pounds in people's pockets. The chancellor will announce a blueprint to improve infrastructure across the region that will add up to £78bn to the UK economy within a decade, according to industry experts, and put it at the forefront of science and technological advances. - Guardian Starbucks reassured Wall Street with a smaller-than-expected drop in comparable sales, an early sign that its efforts to revive sluggish demand could be bearing fruit. The world's largest coffee chain, which earlier this month announced that people using its cafes cross North America need to buy something, is in the midst of a turnaround bid to win back customers. - Guardian

JP Morgan is in talks to lease space at Credit Suisse's former UK headquarters in Canary Wharf after it demanded staff return to the office five days a week. The investment bank is understood to be discussing a deal with UBS to rent 150,000 sq ft of space at One Cabot Square office complex. Although the space amounts to less than a third of the 540,000 sq ft building, it is understood that the bank could expand its presence there further to lease as much as half of it. - Telegraph

China is building a gigantic laser-ignited fusion power laboratory that is 50pc larger than its US counterpart as the two superpowers spar for energy supremacy. The part-built research centre near the city of Mianyang, in the Sichuan province, has been observed in satellite imagery, with experts warning it could be used to advance both power generation and nuclear weapons. - Telegraph

The proposed Sizewell C nuclear plant will start generating electricity in 2035 if it gets the go-ahead by the summer, its developers claimed, despite repeated delays plaguing its sister station. The first reactor from the Suffolk nuclear plant will enter commercial operation in 2035 and the second in 2036, according to a presentation published by Sizewell that described a final investment decision by this summer as "essential". EDF has previously given vaguer guidance of Sizewell starting up in the "mid 2030s". - The Times

The chairman of Santander's British business is to leave this year in a surprise exit that will fuel City speculation about the Spanish bank's future in the UK. William Vereker's impending departure from Santander UK was announced little more than a week after the group was forced to deny reports that it is reviewing its operations here and could decide to withdraw from British high streets. - The Times

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Monday newspaper round-up: Council tax, layoffs, tech companies
(Sharecast News) - Britain's poorest households are paying an increasing share of their income on council tax, according to new analysis that likened it to the poll tax that contributed to the downfall of Margaret Thatcher. The poorest fifth of households paid 4.8% of their income on council tax in England, Wales and Scotland and on domestic rates in Northern Ireland in the 2020-21 financial year, up from 2.9% in 2002-3, according to research by the Resolution Foundation. - Guardian
Friday newspaper round-up: Barclays, BP, JPMorgan
(Sharecast News) - The UK government will "wait and see" whether tariffs announced by Donald Trump "actually come to pass", a senior minister said. The US president announced what he called "reciprocal tariffs" on all other countries on Thursday evening, claiming it was "fair to all". But it was unclear how this would apply to the UK, especially as Trump suggested his policy regarded VAT as a tariff. - Guardian
Thursday newspaper round-up: Solar panels, OBR, Chevron
(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
Wednesday newspaper round-up: British economy, Heathrow, FOS
(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - 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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