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Thursday newspaper round-up: Virgin Atlantic, workplace lawsuits, Just Eat

(Sharecast News) - The UK's biggest electricity distribution business has agreed to pay £14.9m after its support for vulnerable customers during power cuts was deemed "totally unacceptable". The energy regulator said National Grid's Western Power Distribution (WPD) did not provide proper support to 1.7 million customers during the outages. An Ofgem investigation, launched in 2020, found that WPD had failed customers in a number of areas including not carrying out criminal record checks for all staff visiting customers' homes. - Guardian A Virgin Atlantic flight to New York was forced to return to Heathrow after bosses discovered that one of its pilots had not completed their training. Virgin Atlantic, majority-owned by billionaire businessman Sir Richard Branson, apologised for the disruption to passengers and blamed a "rostering issue". It said internal training protocols, rather than UK aviation or safety regulations, had been breached. - Telegraph

Workplace lawsuits including the word "banter" have shot up by 45pc in a year as former colleagues clash over what they deem to be acceptable office humour. The number of employment tribunal claims relating to "banter" as a justification for alleged discrimination rose from 67 in 2020 to a record 97 in 2021, according to research by law firm GQ Littler. - Telegraph

The chairman of Just Eat Takeaway resigned before the food delivery group's annual meeting yesterday after acknowledging shareholders' concerns at the way the company has been run. Adriaan Nuhn's abrupt exit came as the supervisory board withdrew the vote for the re-election to the management board of Jörg Gerbig, 41, the company's chief operating officer, amid a complaint about his personal conduct. - The Times

Construction companies are struggling to keep up with growing workloads amid the surge in materials costs and a shortage of skilled labour. Almost every contractor, builder and developer surveyed in the latest Global Construction Monitor from the Royal Institution of Chartered Surveyors said that availability of materials was a "major constraint to current activity". - 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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