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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: UK shoppers, Heathrow, Frasers

(Sharecast News) - As the cost of living crisis builds up UK shoppers are slashing their budgets in almost all areas. But there is a notable exception - the money spent on clothing is above pre-pandemic levels, the return of weddings, holidays and socialising fuelling a boom in "revenge spending" or buying those treats missed over months of pandemic lockdowns. Shoppers are forking out almost a fifth more on clothing than last year, research from Kantar for the Guardian has found, taking the value 1% ahead of the 2019 figure. - Guardian Ministers have issued an ultimatum to the chief executive of Heathrow, calling on him to provide a plan to resolve the airport's staffing problems, it has been reported. John Holland-Kaye has until midday on Friday to assure ministers that the airport has sufficient workers for security screening and to assist disabled passengers, according to a letter from the Department for Transport's (DfT) director general for aviation, maritime and security and the chief executive of the Civil Aviation Authority (CAA) seen by the Daily Telegraph. - Guardian

Mike Ashley's Frasers has banned staff from working from home on Fridays after some employees were caught posting too often on social media. The retailer, which owns Sports Direct and House of Fraser, has ended its flexible Friday policy and asked staff to be in the office all week. An internal memo, sent by the company's operating chief, said "Frasers Friday" had become "an unproductive day of the week", the Sun first reported. - Telegraph

Homeowners with solar panels are missing out on hundreds of pounds due to rules that let energy companies underpay them for power. After months of rocketing electricity prices, a three-bedroom household with solar panels should now be able to make more than £400 a year by selling spare solar power to the grid. But under the export tariffs offered by some energy companies, they would receive as little as £22, analysis shows.- Telegraph

Europe may have to ration energy this winter if Russia cuts off the gas while Britain will also face "really, really high prices", senior energy leaders have warned. The bosses of Shell and National Grid's electricity system operator (ESO) both issued stark warnings about the bleak winter ahead, after President Putin threatened that sanctions could result in catastrophic consequences for energy markets. - The Times

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Wednesday newspaper round-up: Amazon, dividends, Weardale Lithium
(Sharecast News) - Amazon profits soared once again in the first quarter of 2024, the company announced on Tuesday - the latest in a series of robust earnings reports for the retail giant. The company attributed the boost to artificial intelligence and advertising sales. Amazon reported overall revenue of $143.3bn in the first three months of the year - up 13% from the same period in 2023 and surpassing Wall Street expectations of $142.65bn. The e-commerce giant reported an increase of more than 200% to $15bn, with net income more than tripling to $10.4bn from $3.17bn at the same time in 2023. - Guardian
Tuesday newspaper round-up: Meta, ExxonMobil, Very Group
(Sharecast News) - The Federal Communications Commission on Monday fined the largest US wireless carriers nearly $200m for illegally sharing access to customers' location information. The FCC is finalizing fines first proposed in February 2020, including $80m for T-Mobile; $12m for Sprint, which T-Mobile has since acquired; $57m for AT&T, and nearly $47m for Verizon. - Guardian
Monday newspaper round-up: Thames Water, Brexit, Babylon
(Sharecast News) - Senior Whitehall officials fear Thames Water's financial collapse could trigger a rise in government borrowing costs not seen since the chaos of the Liz Truss mini-budget, the Guardian can reveal. Such is their concern about the impact on wider borrowing costs for the UK, even beyond utilities and infrastructure, that they believe Thames should be renationalised before the general election. Officials in the Treasury and the UK's Debt Management Office fear that, unless the UK's biggest water company is renationalised as soon as possible, "prolonged uncertainty" about its fate could "damage confidence in UK plc at a sensitive time", with elections in the UK and the US later this year. - Guardian
Sunday share tips: Centrica, Lancashire Holdings
(Sharecast News) - The Sunday Times's Lucy Tobin told her readers to book their profits in Centrica and 'sell'.

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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