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Thursday newspaper round-up: Furlough, Pret a Manger, PwC

(Sharecast News) - The TUC is urging the government to abandon plans to scrap the furlough scheme at the end of next month and instead build on the wage subsidy experiment to create a permanent short-time working scheme. Plans drawn up by the TUC would protect workers against recessions, a new wave of the pandemic or the transition to a green economy by having 80% of their wages guaranteed by the state. - Guardian Pret a Manger staff are considering strike action after the coffee shop chain told them it was permanently cutting pay despite the easing of trading restrictions. The workers, the vast majority of whom earn basic pay of the legal minimum £8.91 an hour, were told they would temporarily not be paid for breaks and a service bonus would be ditched in July last year after the pandemic hit. - Guardian

Travel Covid test costs should be capped at £40, MPs have told the Government amid a growing Tory backlash against the charges. Senior Conservative MPs are calling on Sajid Javid, the Health Secretary, to take immediate action to end "rip-off" prices of PCR tests that still average £75 per person and risk turning foreign holidays into the "preserve only of the wealthy". - Telegraph

The boss of PwC has said employers have a responsibility to get their staff back into offices as the professional services firm reported a record annual profit of almost £1.2 billion during a year in which its employees have mostly been working from home. Kevin Ellis, chairman of PwC in Britain, where the company employs 22,000 people, said: "There's an economic need for me to encourage my people to work from the office for two or three days a week. - The Times

Regions in Britain with a flourishing tourism industry have already regained the losses their labour market suffered from the Covid-19 crisis, but big cities including London are still struggling, a new report suggests. Although the jobs market has been resilient to the economic downturn thanks in part to large fiscal support, some parts of the country have suffered more acutely than others. The Resolution Foundation think tank said that areas with high average salaries, typically in London, had been at the sharp end of the downturn. - The Times

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Thursday newspaper round-up: Asda, Post Office, M&S, Frasers Group
(Sharecast News) - The owners of Asda are facing mounting pressure after figures showed the struggling supermarket chain's share of the grocery market reached a "new nadir" as sales fell sharply this summer. The grocer's sales fell 6.4% in the three months to 10 August, equivalent to more than £2bn in annual lost revenues, as it became the only member of the traditional "big four" supermarkets to see sales shrink, according to analysts at NIQ. - Guardian
Wednesday newspaper round-up: Waitrose, McDonald's, Crown Agents
(Sharecast News) - Waitrose is planning to open 100 convenience stores over the next five years as part of a £1bn-plus investment in new outlets and shop refurbishments. The upmarket grocery chain is planning to unveil a revamped outlet in Finchley Road, north London, on Wednesday. This will kick off a new phase of expansion with its first new store in six years in Hampton Hill, west London, by the end of this year. - Guardian
Tuesday newspaper round-up: Missing yacht, City Airport, energy bills
(Sharecast News) - Morgan Stanley International chairman Jonathan Bloomer is among those missing after a yacht carrying UK tech entrepreneur Mike Lynch sank off the coast of Sicily during a violent storm, an Italian official has said. Salvatore Cocina, head of the civil protection agency in Sicily, said Bloomer and Chris Morvillo, a lawyer at Clifford Chance, were among the six people missing. Lynch and his 18-year-old daughter, Hannah, were also unaccounted for as of late Monday. - Guardian
Monday newspaper round-up: Ted Baker, banks, Boohoo
(Sharecast News) - Fashion brand Ted Baker's remaining 31 stores in the UK are to close this week, putting more than 500 jobs at risk. Started as a men's clothing label in Glasgow in 1988 by entrepreneur Ray Kelvin and becoming known for its quirky advertising and floral prints, Ted Baker's UK arm entered administration in March after racking up losses. - 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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