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Thursday newspaper round-up: Meta, Heathrow, Murdoch, BP

(Sharecast News) - Meta workers are bracing for thousands of additional layoffs as the embattled social media firm continues to cut costs. A new round of layoffs began on Wednesday, according to a report from CNBC that was confirmed by Meta. The company will cull 4,000 jobs immediately as part of a larger plan to cut 10,000 jobs announced earlier this year, focusing largely on technical roles. - Guardian Security staff at Heathrow airport are to strike on eight days next month in a dispute over pay. The action by members of the Unite union will take place on 4, 5, 6, 9, 10, 25, 26 and 27 May, and follow strikes over Easter. - Guardian

Rupert Murdoch's bill for settling defamation lawsuits against Fox News is likely to eclipse the £1bn paid out in the wake of the phone-hacking scandal. Fox reached a dramatic 11th-hour settlement with Dominion Voting Systems on Tuesday over accusations that the news network knowingly broadcast false claims that Dominion's technology was used to rig the 2020 election of Joe Biden. - Telegraph

A shareholder revolt to remove Helge Lund as chairman of BP was gathering momentum last night, with five of Britain's biggest pensions schemes planning to vote against his re-election in protest at the company's watering down of green commitments. The Universities Superannuation Scheme followed the National Employment Savings Trust in announcing plans to vote against Lund. Brunel Pension Partnership, a group of nine council schemes, also said it would vote to oust him. Two other council pension umbrella groups, LGPS Central and Border to Coast, are said to be joining them. - The Times

A leading American consultancy has offered new recruits from business schools thousands of dollars to hold off joining and kill time by becoming a yoga instructor or by heading out on safari. Bain has given sizeable financial incentives to recruits with postgraduate business degrees to push back their start dates until next April, according to The Wall Street Journal, which reported that McKinsey had also delayed new starts. - The Times

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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.

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