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: Post Office, Vestas, McLaren

(Sharecast News) - The police criminal inquiry into the Post Office has identified dozens of persons of interest so far, as a team bolstered to 100 officers investigates the actions of executives, legal teams and civil servants connected to the Horizon IT scandal. The investigation, which the police describe as unprecedented in size and scale, is in the first instance examining potential offences of perjury and perverting the course of justice by those involved in making "key decisions" on Post Office investigations and supporting prosecutions of branch owner-operators. - Guardian The wind turbine maker Vestas has said it will cut 300 jobs at its Isle of Wight factory. Staff at the plant in Newport have been told at least half of its manufacturing operation, which employs 600 people, will be cut amid changing demand for turbine blades. Vestas, a Danish manufacturer with operations in 88 countries, is switching from making offshore blades to smaller, onshore blades, which will only sustain 300 jobs at the site, it said. - Guardian

Labour has been accused of seeking to bulldoze through the Home Counties as Angela Rayner prepares to unveil the biggest overhaul of planning rules in a generation. The Housing Secretary will on Thursday unveil a new National Planning Policy Framework (NPPF) intended to pave the way for thousands of estates across the South East. - Telegraph

British supercar maker McLaren has been sold to an Abu Dhabi sovereign wealth fund, in a deal presided over by the Emirate's crown prince. The Woking-based company has until now been owned by state-owned Bahraini investment outfit Mumtalakat. But the firm has now sealed an agreement to sell McLaren's automotive business to CYVN Holdings, which is managed by the trillion-dollar Abu Dhabi Investment Authority. - Telegraph

One of America's largest car manufacturers is set to abandon its plans to develop a driverless taxi after the programme was marred by an accident last year. General Motors (GM) had made the new technology a priority, pouring more than $10 billion into its Cruise robotaxi vehicle since 2016. The company announced on Tuesday that it plans to shift the focus of the Cruise programme to concentrate on developing advanced driver assistance systems for personal vehicles instead. - The Times

Share this article

Related Sharecast Articles

Friday newspaper round-up: Aldi, Richard Desmond, Collateral
(Sharecast News) - The grocery industry watchdog is to make a rare intervention in a Yorkshire sprout grower's £3.7m legal case against Aldi over the discount chain's decision to terminate a long-term supply deal. In papers filed at the high court, W Clappison Ltd, which produced sprouts for Aldi's UK arm for 13 years, said its supply agreement was ended in February last year at planting time without reasonable notice so it was unable to find new clients immediately. It said it was forced to cease sprout production and sell off its machinery. - Guardian
Thursday newspaper round-up: Water bills, Brexit, Imperial Brands
(Sharecast News) - Households in England and Wales will see their water bills rise by an average of £31 a year, as suppliers pay to fix leaky pipes and cut pollution. The industry regulator Ofwat said on Thursday it would allow companies to raise average bills will rise by £157 over five years to an average of £597 by 2030 to help pay for investment. - Guardian
Wednesday newspaper round-up: Amazon, Lloyds Banking, Heathrow
(Sharecast News) - Amazon is to settle a group claim from delivery drivers that it deprived them of thousands of pounds, the Guardian has learned, ending a suit that lawyers had said could cost the company £140m. Drivers who deliver for the internet marketplace through its "delivery service partners" (DSPs) are classed as self-employed, meaning they are not entitled to benefits such as holiday pay and the minimum wage, while they also do not have an employment contract. - Guardian
Tuesday newspaper round-up: Amazon, Lycamobile, Revolut
(Sharecast News) - Thousands of workers at Amazon are threatening to strike at the company after giving the company a deadline of 15 December to agree to begin negotiating a first contract with the union representing employees. The strike threats, which started in New York, have now spread to Chicago and Atlanta. They come during Amazon's peak holiday season and after the company experienced record sales during its 2024 Black Friday and Cyber Monday events. - 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.