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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.

Friday newspaper round-up: Power cuts, US debt ceiling, Weir Group

Fri 08 Oct 2021 07:33

(Sharecast News) - The risk of power cuts to factories and homes this winter has increased, the National Grid warned, as the business secretary prepared for a crunch meeting with industry bosses concerned the energy crisis may force them to scale back production. The price of gas and electricity has soared in recent weeks, leading to the collapse of multiple energy suppliers and prompting warnings of higher costs for consumers, factory shutdowns and increased pollution as plants switch to dirtier but cheaper fuels. - Guardian The US Senate has approved a deal to extend the government's borrowing authority into December. The compromise between Republican and Democratic leaders would temporarily avert an unprecedented federal default that experts say would have devastated the economy. With a 50-48 vote, senators agreed to increase the borrowing limit by $480bn, sufficient to prevent the US government from defaulting by keeping debt payments up until 3 December. - Guardian

Ireland has been forced to abandon its low tax business model in the face of pressure from Joe Biden, putting the country's status as a haven for global companies at risk. The sacrosanct 12.5pc tax rate has been the cornerstone of the Irish economy for almost two decades, and helped attract some of the world's biggest corporations, such as Facebook and Google, to set up their European headquarters in the country. - Telegraph

Checkout.com, one of Europe's most valuable private companies, had a 73 per cent rise in UK and European sales last year as it benefited from the boom in online shopping. The payment processor, which was valued at $15 billion in a January funding round, recorded revenues of $252.7 million last year in its UK business, up from $146.4 million in 2019. - The Times

The mining equipment supplier Weir Group expects its profit to be trimmed by up to £40 million as the result of a cyberattack, it said in an update. The FTSE250 company said that many of its systems had to be shut down, disrupting orders into next year. - The Times

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Wed 28 Oct 2026 07:16
Wednesday newspaper round-up: Sizewell plant, Rosebank oilfield, Google
(Sharecast News) - The government's plan to fund a multibillion-pound nuclear plant at the Sizewell site in Suffolk represents a "terrible deal" for the UK taxpayer over the rest of the century, according to the government's spending watchdog. MPs on the public accounts committee (PAC) have warned the government that the cost of the Sizewell C nuclear reactor could spiral to almost £48bn, leaving bill payers on the hook to provide an extra £9.8bn to construct the plant before 2040 and a further £12bn over its 60-year operating life. - Guardian
Tue 27 Oct 2026 07:12
Tuesday newspaper round-up: Shop price inflation, Microsoft, Helsing
(Sharecast News) - Shop price inflation has risen to the highest level in two and a half years, according to the British Retail Consortium, which warned that "the dam is starting to break" when it comes to retailers trying to limit price rises for customers. The lobby group said shop price inflation was 2.1% year on year in October, a sharp rise compared with 1.4% in September, and an indication that retailers were beginning to pass on the rising costs of energy and food ingredients since the Middle East conflict broke out. - Guardian
Mon 26 Oct 2026 07:23
Monday newspaper round-up: Pensioners and the Budget, interest rate expectations, Audi US factory
(Sharecast News) - The chancellor will use his Budget this week to protect pensioners and those saving for their retirement, as he announces plans to shield nearly 1m people from paying income tax. John Healey is expected to confirm on Wednesday that the full state pension will rise by £489 to £13,036 - equivalent to 3.9%. However, the rise will push about 1m people on low incomes who rely on the state pension above the £12, 570 personal allowance threshold, meaning they would be dragged into paying income tax. To retain the principle that the state pension is not taxable, Healey is expected to announce a rise in the tax-free allowance for low-income pensions to £13,036. The move will cost taxpayers £200m a year by 20230 - The Times
Fri 23 Oct 2026 07:20
Friday newspaper round-up: Elon Musk/Skydance, North Sea wealth fund, retiring entrepreneurs
(Sharecast News) - Elon Musk has reportedly invested approximately $1bn in Skydance, the new media empire led by David Ellison. The deal comes alongside fresh equity infusions from existing investors, including board member Laurene Powell Jobs, Steve Jobs's widow. Semafor first reported the news. The investment follows Paramount's recent $111bn merger with Warner Bros Discovery, a huge acquisition that brought the media companies together under the Skydance name. At the head of the new media empire is David Ellison, the son of billionaire Oracle co-founder and Donald Trump ally Larry Ellison. - Guardian

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