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.

Thursday newspaper round-up: Furlough scheme, KP Snacks, London offices

(Sharecast News) - The Treasury is scrambling to complete 11th-hour plans capable of softening a national cost of living crisis, including a £200 rebate on energy bills and more help for the poorest households. No 10 and the Treasury have been under pressure from Tory MPs to act as millions of households brace for a record hike in energy bills from April, and the prospect of rising mortgage rates and tax increases. - Guardian

Companies handed a combined £1.3bn in controversial fast-track Covid contracts with minimal scrutiny also claimed at least £1m in furlough grants, it can be revealed. Analysis of the accounts of companies that won lucrative emergency contracts to supply personal protective equipment (PPE) to the NHS during the height of the pandemic shows 12 also claimed funds to put staff on furlough at taxpayers' expense. - Guardian

KP Snacks has warned there may be a shortage of some of its popular crisps and nuts following a ransomware attack. The company, which is behind brands such as Skips, Nik Naks, Hula Hoops, McCoy's crisps and KP Nuts, told its retail customers to brace for delays and cancellations of deliveries. - Telegraph

Investors from around the world are expected to spend £60 billion on London offices over the next five years in a post-Brexit, post-pandemic vote of confidence in the capital. American property investors will be the most acquisitive, Knight Frank says in its latest London Report. They will pour £15 billion into London offices between now and 2027, the property agent estimates. Funds from Germany, China, Singapore and South Korea are also expected to be active. - The Times

Unsecured creditors have been left £30.4 million out of pocket from the pre-pack administration of TM Lewin that resulted in the closure of all of the shirt company's shops. TM Lewin was bought in May 2020 for about £25 million by Torque Brands, an investment vehicle led by James Cox, founder of Simba Sleep, and backed by Allan Leighton, chairman of The Co-operative Group. Only seven weeks later the company was put into a pre-pack administration that shut all its 66 stores and resulted in 600 job losses. At the time, Cox said that lockdowns had meant the business was no longer viable in its present form and that it would focus on an online model instead. - The Times

Share this article

Related Sharecast Articles

Monday newspaper round-up: Pubs, country houses, Severn Trent
(Sharecast News) - The boss of the pub chain Greene King has called for changes to business rates to remedy "unfairness" that he said added to financial pressures on the struggling pubs industry. Nick Mackenzie, Greene King's chief executive, said the business rates system of property taxes should be changed to a tax on profits. - Guardian
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

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.