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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.

Tuesday newspaper round-up: House prices, employers, Wayve

(Sharecast News) - Universal Music Group could become the latest company to face an embarrassing shareholder revolt this AGM season, after an influential advisory firm urged investors to reject an "excessive" €139m (£119m) payout for its chief executive, Lucian Grainge. Glass Lewis said it had "severe reservations" about supporting the Dutch-American music company's pay decisions, which included a €92m share-based bonus for its British-born CEO that easily made up for a 51% cut in his salary, to €7.5m. - Guardian A decline in mortgage rates has prompted a forecaster to reverse its predictions of a fall in UK house prices in 2024, instead suggesting the average cost of a property could rise by £61,500 over the next five years. The property company Savills had forecast in November that it expected the average price of a home to fall by 3% this year because recent rises in the Bank of England base rate had heightened the affordability pressures on would-be buyers. - Guardian

Employers are cutting back hours and hiring less to cope with the rise in the National Living Wage, the boss of one of Britain's biggest recruiters has said. James Reed, chief executive of Reed, said April's 9.8pc increase in minimum wage was already being reflected in hiring patterns. Mr Reed said: "We have seen some employers changing their behaviour. "They might be taking on people for shorter periods or fewer hours or fewer of them because of the increasing cost." - Telegraph

Wayve, a British driverless car company, has raised over a billion dollars from three of the world's most influential tech companies to commercialise its products. Led by investor SoftBank, with contributions from Nvidia and Microsoft, the funds will help develop the start-up's artificial intelligence software, which can make any vehicle hands-free. - The Times

The UK is likely to have exited recession at the beginning of this year, with growth now gathering momentum in a suite of key economic sectors, analysis suggested. Figures shared with The Times by Lloyds Bank showed that more than half of sectors within the UK economy grew in the first three months of this year, suggesting that official GDP estimates this week will confirm that the economy left recession. - The Times

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Friday newspaper round-up: Car sales, Vodafone, Glencore
(Sharecast News) - Ed Miliband has unveiled plans to make it easier for homeowners to install wind turbines in their gardens as part of a mass expansion of green power. The Energy Secretary has announced a consultation on relaxing planning rules governing the construction of turbines on residential and commercial properties. - Telegraph
Thursday newspaper round-up: Shorter working week, Microsoft, EY
(Sharecast News) - Nearly 1,000 British workers will adopt a permanently shorter working week, after the latest trial of a four-day week and similar changes to traditional working patterns. All 17 British businesses in a six-month trial of the four-day week said they would continue with an arrangement consisting of either four days a week or nine days a fortnight. All the employees remained on their full salary. - Guardian
Wednesday newspaper round-up: Prax Lindsey, Santander/TSB, pensions, Qantas
(Sharecast News) - The married couple behind the Prax Lindsey oil refinery awarded themselves at least $15.9m (£11.5m) in pay and dividends in the years leading up to its collapse, it has emerged, as the government urged the company's boss to "put his hand in his pockets" to help workers. Winston Soosaipillai, who goes by his middle names Sanjeev Kumar, jointly owned the refinery with his wife, Arani, until it plunged into insolvency on Monday. - Guardian
Tuesday newspaper round-up: King Charles, Google, offshore companies
(Sharecast News) - King Charles is set to receive official annual income of £132m next year, after his portfolio of land and property made more than £1bn in profits thanks to a boom in the offshore wind sector. Profits at the crown estate - which partly funds the monarchy - were flat at £1.1bn in its financial year to the end of March but more than double their level two years ago, at £442.6m. - 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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