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Monday newspaper round-up: UK growth, Waitrose, HMRC, Crispin Odey

(Sharecast News) - Britain will be left with deep scars from the pandemic despite narrowly escaping a second recession within three years and growing signs of an economic pick up, according to new forecasts. A new report by the accountancy firm KPMG has found that the economy has enjoyed a better start to the year than it had thought, and is now expected to grow by 0.3% this year, compared with its previous prediction of an uplift of just 0.1%. - Guardian Waitrose has cut the price of bread, beef mince, chicken and other kitchen staples as the supermarket battles to recover from an IT meltdown that caused widespread empty shelves. The grocer is slashing the cost of hundreds of items for the second time this year, after pledging to spend £100m on making its prices more affordable. - Telegraph

London homeowners will see their annual bill jump by up to £7,300 when they remortgage this year as 3.5 million borrowers face a rate shock. Nationally, homeowners will have to spend nearly an extra £9bn in interest over 2023 and 2024 as they are forced to refinance at rates that are double what they are used to, according to the Centre for Economics and Business Research. - Telegraph

HMRC's delayed programme to digitise the tax system is expected to cost five times its estimate in real terms, according to the spending watchdog. The National Audit Office (NAO) warned that "significant delivery risks" continued to loom over the "making tax digital" scheme, which was announced eight years ago. It has been delayed four times. - The Times

Just days after fresh allegations surfaced of sexual misconduct by Crispin Odey, one of Britain's most high-profile financiers, partners at the firm he founded moved quickly to oust him. Peter Martin, the chief executive of Odey Asset Management, and Michael Ede, chief financial and operating officer, signed a statement on Saturday from its executive committee announcing that Odey, 64, was leaving the firm that he founded 32 years ago. - The Times

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Thursday newspaper round-up: Mike Lynch, smart meters, Very Group
(Sharecast News) - San Francisco federal courthouse on Thursday as a key witness in his own criminal fraud trial, which began in March. US authorities have charged the former software tycoon with 16 counts of wire fraud, securities fraud and conspiracy relating to his company's acquisition deal with Hewlett-Packard in 2011. If convicted, Lynch faces up to 25 years in prison. He has pleaded not guilty. - Guardian
Wednesday newspaper round-up: Anglesey power station, electric cars, Eurostar passengers
(Sharecast News) - Ministers have earmarked north Wales as the site of a large-scale nuclear power plant, which is part of plans to resuscitate Britain's nuclear power ambitions. Wylfa on Anglesey (Ynys Môn) has been named as the preferred site for the UK's third major nuclear power plant in a generation, coming after EDF's Hinkley Point C nuclear plant, which is under construction in Somerset, and its Sizewell C nuclear project planned for Suffolk. - Guardian
Tuesday newspaper round-up: New homes, AI, Mike Ashley
(Sharecast News) - A Labour government would aim to announce the sites for a series of new towns within a year of taking office, with the promise that homes would be built in them by the end of a first term, Angela Rayner is to say in a speech. Giving more detail to a plan first outlined in Keir Starmer's party conference speech in October, Rayner will tell a housing conference that Labour will strongly support private developers who create high-quality and affordable housing. - Guardian
Monday newspaper round-up: Border checks, house prices, apprenticeships
(Sharecast News) - Post-Brexit border checks will cost UK businesses £470m a year, the government's public spending watchdog has said. Plans to bring in border checks on goods coming from the EU faced "significant issues" including critical shortages of inspectors before their introduction last month, the National Audit Office said in a report. - 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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