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Wednesday newspaper round-up: Network Rail, Klarna, Brewdog

(Sharecast News) - Cuts to rail funding could lead to more serious rail accidents as well as fewer, more crowded trains, unions have said. A TUC report said passenger safety will be compromised should Network Rail press ahead with reductions to its maintenance workforce to save £100m a year. About 2,500 jobs are expected to go and the TUC said it would be impossible to make such cuts without putting passengers at risk. It warned that the Treasury was also demanding cuts from train operators that would disrupt services and leave fewer trains running, leaving commuters "packed like sardines". - Guardian

The buy now, pay later company Klarna will start reporting UK customer debts to credit agencies for the first time next month, in a move that could affect shoppers' credit ratings from 2023. The move is understood to be the result of two years of talks with the credit reference companies Experian and TransUnion, and comes as buy now, pay later (BNPL) firms face pressure from MPs and campaigners who say they should prevent customers from taking on more debt than they can afford. - Guardian

In the wake of unprecedented upheaval during the Covid crisis, much of Britain has returned to normal. From large Northern cities to seaside towns, footfall is up, restaurants are busy again and public transport use is recovering. But this rebound largely seems to have passed by the biggest city of them all. London has been left at the back of the pack as commuters and tourists stay away. The Centre for Cities, a think tank, has London languishing at the bottom of its recovery rankings. - Telegraph

Former employees of the Bank of England, the institution responsible for controlling inflation, may soon be the only pensioners in the country more than fully insulated from the cost-of-living crisis. The 5,500 retired members of the Bank's staff pension fund are set to receive a pension increase of about 11 per cent this summer because of a generous quirk in the terms of their scheme. Unusually, the vast majority of Bank pensioners still get their incomes raised by the growth in the retail prices index, which hit 9 per cent last month and is forecast to rise well into double figures in the coming months. - The Times

The boss of Brewdog is to give £100 million of shares to staff and hopes to lead the business for years to come. James Watt intends to donate a 5 per cent stake over the next four years to salaried workers at the firm. The company said that 750 of its 2,200 people were eligible for the scheme, which could mean that each receives shares valued at about £120,000. - 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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