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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.

Tuesday newspaper round-up: Elon Musk, John Lewis, Mike Lynch

(Sharecast News) - Jeremy Hunt could offer striking public sector workers a bigger pay rise before his budget next month by cancelling plans for a fuel duty freeze costing £6bn, according to a leading tax and spending watchdog. With waves of fresh strike action planned across the public sector next month, the director of Institute for Fiscal Studies (IFS), Paul Johnson, said the chancellor faced a "straight choice" between subsidising car driving and helping public sector workers cope with the cost of living crisis. - Guardian Elon Musk is facing yet another lawsuit as shareholders of Tesla accuse the chief executive and his company of overstating the effectiveness and safety of their electric vehicles' autopilot and full self-driving technologies. Shareholders have alleged in the proposed class action lawsuit that Tesla defrauded them over four years with false and misleading statements that concealed how its technologies - suspected as a possible cause of multiple fatal crashes - "created a serious risk of accident and injury". The case was filed Monday in a San Francisco federal court. - Guardian

Dame Sharon White has sacked the head of John Lewis's department stores as the business fights surging prices and the threat of a resurgent Marks & Spencer. Pippa Wicks is stepping down from the company with immediate effect after less than three years in the post. - Telegraph

Some of Britain's most prominent business figures have called on the prime minister to block the prospective extradition of Mike Lynch, the software tycoon, to the United States. Entrepreneurs including Brent Hoberman, a co-founder of Lastminute.com, along with City veterans such as Lord Stevenson of Coddenham, the former chairman of Pearson and HBOS, have written to Rishi Sunak complaining about America's "unreasonable" use of an extradition treaty. - The Times

Bosses at public companies are expecting to embark on more acquisitions this year as an improvement in economic conditions sets the stage for a wave of dealmaking in the City. In a poll of FTSE 250 chief executives by Numis, 94 per cent expected to make acquisitions in 2023, compared with 86 per cent last year. The investment bank also found that 88 per cent of FTSE directors regard British companies as vulnerable to takeovers. - The Times

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Sunday newspaper round-up: Copper, Boeing, OPEC+
(Sharecast News) - Analysts believe that copper prices might fall sharply if the US central bank starts lowering interest rates. According to analysts at Liberum that is because once prices are brought under control and the Fed starts cutting rates the metal will lose its attractiveness as an inflation hedge. An increasing number of analysts also believe that an increased need for copper on account of the green revolution has already been priced in. - The Financial Mail on Sunday
Sunday share tips: Raspberry Pi, Sanderson Design Group
(Sharecast News) - The Financial Mail on Sunday's Midas column touted shares of Raspberry Pi ahead of its upcoming flotation.
Friday newspaper round-up: Royal Mail, fossil fuels, Anglo American
(Sharecast News) - The union that represents workers at Royal Mail has called for a new business model for the company that would see workers given a stake in the company and pay tied to growing services and meeting certain social benefits. Dave Ward, the general secretary of the Communications Workers Union (CWU), said that the potential takeover by the Czech billionaire Daniel Křetínský should provide a moment to overhaul how the company is structured, which could mirror that of US-style public benefit corporations. - Guardian
Thursday newspaper round-up: Sony Music, Royal Mail, house prices
(Sharecast News) - A leading City lobby group is calling on the next government to bring in scams legislation that forces big tech and social media companies to cough up to £40m a year to reimburse customers and fight fraud on their platforms. The demand came in a 'financial services manifesto' released by UK Finance, which represents banks, payments companies and other financial firms. UK Finance and its 300 membershave long complained about having to shoulder the costs of fraud against their customers, despite a surge in the number of scammers targeting consumers through platforms such as Facebook and Google. - 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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