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Wednesday newspaper round-up: Starbucks, Santander, Alphabet

(Sharecast News) - Starbucks office workers will risk losing their jobs if they fail to comply with the company's hybrid work requirement that employees are in the office three times a week. According to the Wall Street Journal an internal message sent to employees warns that an "accountability process" will start in January 2025. Consequences for non-compliance are "up to, and including, separation", according to the company message. - Guardian Santander is cutting more than 1,400 jobs across its UK business this year as part of its efforts to reduce costs. The Spanish bank's chief executive officer, Hector Grisi, confirmed the cuts as its UK division delayed publication of its latest financial results to consider the impact of an influential court ruling linked to commission on car finance. Grisi told a press conference on Tuesday that the company would cut 1,425 jobs in the UK as it automated more of its operations. It is understood that the redundancies are largely completed and will be done by the end of the year. - Guardian

Rachel Reeves's feared inheritance tax (IHT) raid has triggered a surge in investors racing to sell funds which own UK companies listed on the stock market. Investors pulled nearly £300m from funds specialising in small UK companies last month - almost a four-fold increase on the £80m withdrawn in August, according to Morningstar Direct. Mid-sized UK stocks also suffered from Budget uncertainty, with funds reporting outflows for the first time since March. - Telegraph

Alphabet, the parent company of Google, beat Wall Street's profit and revenue expectations as artificial ­intelligence technology continues to drives growth in cloud computing sales and search engine advertising. Sundar Pichai, Alphabet's chief executive, hailed the "extraordinary" momentum across the business as the company reported a 33.6 per cent increase in third-quarter net profit to $26.3 billion, outpacing Wall Street estimates of $22.9 billion. - The Times

Rolls-Royce, a frontrunner in the race to deliver Britain's first mini nuclear power plants, has sold a 20 per cent stake in its business developing the nascent technology. The Czech power company CEZ is understood to have paid millions of pounds for the stake in Rolls-Royce SMR as part of a joint push by the companies to deploy small modular reactors (SMRs). The utility has placed an order for units producing three gigawatts of electricity in the Czech Republic. - The Times

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Wednesday newspaper round-up: Aviva Investors, HSBC, car finance
(Sharecast News) - One of the UK's biggest pension funds has lost more than £350m on a series of "calamitous" investments in incinerator power plants that are expected to go bust in the coming days. The Guardian understands that Aviva Investors will put three incinerators into administration this week after pouring millions of pounds into what has been described as the country's "dirtiest form of power generation". - Guardian
Tuesday newspaper round-up: Starling Bank, Asos, Morrisons
(Sharecast News) - Staff have resigned at Starling Bank after its new chief executive demanded thousands of workers attend its offices more regularly, despite lacking enough space to host them. In his first major policy change since taking over from the UK digital bank's founder, Anne Boden, in March, Raman Bhatia has ordered all hybrid staff - many of whom were in the office only one or two days a week, or on an ad-hoc basis - to travel to work for a minimum of 10 days each month. - Guardian
Monday newspaper round-up: Energy bills, Black Friday, Lloyds Bank, Sephora
(Sharecast News) - Household energy bills across Great Britain are set to rise at the start of next year, analysts predict, putting more pressure on household finances. Officially, the price cap for January-March 2025 will be set on Friday morning by regulator Ofgem, limiting what energy providers can charge in England, Scotland and Wales. - Guardian
Sunday newspaper round-up: Kursk, AstraZeneca, BAE Systems
(Sharecast News) - America's President has authorised Ukraine to employ long-range ATACMS supplied by the US to strike targets inside Russia. More specifically, Kyiv will now be allowed to strike targets within the Kursk region, the New York Times reported. Speculation may increase that permission from Britain, the US and France to do the same with Storm Shadow missiles could follow. Joe Biden's decision is said to have been triggered by the appearance of North Korean troops in the Kursk region. - The Sunday Telegraph

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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