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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.

Wednesday newspaper round-up: Amazon, EY, Entain, smart meters

(Sharecast News) - Amazon has been accused of being "no friend of the small business" after a report discovered evidence that the online marketplace has ramped up fees and advertising costs for sellers. It found that between 2017 and 2022 Amazon had tripled the amount it earned from fees for independent sellers in Europe, including for listings, deliveries and digital support. That growth far outstripped the rise in sales, which doubled over the same period. - Guardian Woking council plans to sever ties with the Northern Irish developer behind a skyscraper venture that helped tip the tiny Surrey local authority into effective bankruptcy. Amid ballooning costs and delays, a dramatic plunge in the value of the council's Victoria Square development - which is 52% owned by Moyallen, a business from Dungannon, County Tyrone - is at the centre of the local authority's financial meltdown. - Guardian

EY's global boss is set to leave the firm after his plan to split its consulting and accountancy arms fell apart. Carmine Di Sibio, global chief executive of the Big Four firm, told partners on Tuesday that he plans to retire next summer, despite receiving an extension last year to remain in the position until June 2025. - Telegraph

Entain, the Ladbrokes and Coral owner, said last night that it planned to bid about £750 million for Poland's STS Holding, a sports betting company, and has secured backing from the two biggest shareholders. Mateusz Juroszek and his father, Zbigniew Juroszek, together own about 70 per cent of the shares in STS and have accepted the offer, the London-listed gambling group said. - The Times

Britain's rollout of energy smart meters is facing more delays and cost increases amid a shortage of installation engineers and claims that many households do not want the devices, the public spending watchdog has warned. The meters transmit real-time usage data to suppliers and are seen as crucial to enabling a modern energy system and encouraging households to save energy. - 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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