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Friday newspaper round-up: Grocery inflation, income tax, rail strikes, landlord rules

(Sharecast News) - Supermarkets have told ministers that food prices have peaked and will start falling significantly in the coming months. The Treasury held a call with leading supermarkets after Andrew Bailey, governor of the Bank of England, blamed the "very big underlying shock" for stubbornly high inflation. - The Times The Treasury will be able to slash the basic rate of income tax by 2p if Britons who left jobs during the pandemic return to work, a Cabinet minister has declared. Mel Stride, the Work and Pensions Secretary, who is responsible for overseeing the Government's drive to boost employment numbers, said there were still 400,000 fewer workers than before Covid. A 2p cut in the basic rate of income tax would mean a fall from 20 per cent to 18 per cent. - Telegraph

Rail services across Britain will be severely disrupted on Friday as train drivers stage the first of the latest wave of planned strikes in a long-running pay dispute. Members of the drivers' union Aslef will strike for 24 hours across virtually all the big passenger operators in England, stopping some major intercity and commuter services entirely. - Guardian

President Zelensky has been blocked by the BBC and other international broadcasters from addressing the world at the Eurovision Song Contest. A request by the Ukrainian leader to make a surprise video appearance during the final, in which he was expected to urge the global audience of 160 million to continue their support for his country in the face of Russian aggression, was turned down by event owners. - The Times

Landlords in England will be able to evict tenants for antisocial behaviour more easily as part of a wider package of reforms to the rental market, after heavy lobbying by industry organisations and Conservative backbenchers. Michael Gove will use the renters' reform bill, which could be introduced to the Commons as soon as next week, to strengthen landlords' rights when it comes to dealing with alleged antisocial behaviour. - Guardian

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(Sharecast News) - The British digger maker JCB, owned by the billionaire Bamford family, continued to build and supply equipment for the Russian market months after saying it had stopped exports because of Vladimir Putin's invasion of Ukraine, the Guardian can reveal. Russian customs records show that JCB, whose owners are major donors to the Conservative party, continued to make new products available for Russian dealers well after 2 March 2022, when the company publicly stated that it had "voluntarily paused exports" to Russia. - Guardian
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(Sharecast News) - Tesco is facing criticism from "shocked" charities who say they are struggling to distribute unwanted food to homeless and hungry people after they claim the retailer brought in rules that mean unwanted food can only be collected in the evening. The supermarket group has switched to a new system which asks charities to pick up unwanted food, such as items reaching their best before date, only in the evening when a store is closing rather than the following morning, the charities have claimed. - Guardian
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(Sharecast News) - BT has said it is increasingly using artificial intelligence to help it detect and neutralise threats from hackers targeting business customers amid repeated attacks on companies. The £10.5bn group is aiming to build up its business protecting customers from online criminals and has patented technology that uses AI to analyse attack data to allow companies to protect their tech infrastructure. British businesses are routinely facing hacking attempts, and some recent high-profile victims have included including the outsourcer Capita, Royal Mail and British Airways. - 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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