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Thursday newspaper round-up: Milk prices, mortgages, Amazon

(Sharecast News) - The UK's largest dairy cooperative has said there could be further increases in the price of milk and other dairy products if the government does not urgently tackle labour shortages in farming. The lack of workers is fuelling food price inflation, Arla said, warning that without action this could also lead to a crisis in milk production. - Guardian More than 1 million households across Britain are expected to lose at least 20% of their disposable incomes thanks to the surge in mortgage costs expected before the next election, the UK's leading economics thinktank has warned. Sounding the alarm as mortgage costs reach the highest levels since the 2008 financial crisis, the Institute for Fiscal Studies (IFS) said that almost 1.4m mortgage holders would see at least a fifth of their disposable income erased. - Guardian

A recession is inevitable owing to the Bank of England's failure to control rampant inflation, former interest rate setters have warned. Adam Posen, who served on the Bank's Monetary Policy Committee (MPC) in the wake of the financial crisis, predicted interest rates will have to rise to 6.5pc or higher to tame soaring prices, which would likely tip the economy into recession. - Telegraph

America's competition watchdog has sued Amazon, accusing the world's largest retailer of having tricked millions of customers into signing up for its Prime membership service. The Federal Trade Commission alleged that the company had "knowingly duped" users into enrolling for and automatically renewing subscriptions and had deliberately complicated the cancellation process. - The Times

A senior Australian politician has called for an international investigation into PwC's leaking of confidential government tax plans. Besides a handful of British PwC staff who are said to have been privy to the information, the scandal largely has been contained to Australia, despite its threat to the firm's global reputation. - The Times

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Sunday newspaper round-up: Elon Musk, Rolls-Royce, Lotus
(Sharecast News) - Elon Musk criticised Donald Trump's proposed tax and spending proposals on Saturday, labelling them "utterly insane and destructive". The tech mogul wrote on social media that "The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!" He also believed that they were akin to political suicide for the Republican party. Musk was criticising a US Senate version of the bill. - Guardian
Friday newspaper round-up: Post office, local bus services, British vehicle production
(Sharecast News) - The police criminal inquiry into the Post Office Horizon IT scandal is investigating more than 45 individuals, with seven formally identified as main suspects. The investigation, which the police described as unprecedented in size and scale, is the first to examine potential offences of perjury and perverting the course of justice by those who made "key decisions" on Post Office investigations and supporting prosecutions of branch-owner operators. - Guardian
Thursday newspaper round-up: Billionaires' wealth, China wind and solar installations, household incomes
(Sharecast News) - The wealth of the world's 3,000 billionaires has surged by $6.5tn (£4.8tn) in real terms over the past decade, according to Oxfam, equivalent to 14.6% of global output. In total the richest 1% of the global population has gained at least $33.9tn in real terms, which the charity said was "enough to end annual global poverty 22 times over". - Guardian
Wednesday newspaper round-up: Post Office, interest-only mortgages, Asda
(Sharecast News) - Post office operators yet to claim compensation of at least £600,000 relating to the Horizon IT scandal have not been chased up by officials because the government did not want to "harass" them with letters, it has emerged. In a report criticising the speed and handling of payouts after the Post Office scandal, the House of Commons public accounts committee (PAC) said the government is taking "insufficient action" identifying all the operators eligible to claim some of the £1.7bn being paid out across four compensation schemes. - 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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