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Friday newspaper round-up: Amazon, Wimbledon, EY

(Sharecast News) - Profits almost tripled at Amazon in the latest quarter as consumers continued to spend heavily despite the sharp rise in interest rates. The world's largest retailer forecast that sales would continue to rise at a robust pace for the rest of the year. Growth had been knocked by surging prices and customers returning to bricks-and-mortar stores. - Guardian Controversial plans to expand the All England Club's grounds, which host the Wimbledon championships, have been approved by local council leaders. Merton council's development and planning application committee voted on Thursday night to approve the application to expand the tennis complex. - Guardian

Michael Gove has told councils to ditch four-day working weeks or face financial penalties. The department for Levelling Up, Housing & Communities (DLUHC), led by Mr Gove, issued new guidance on Thursday criticising shorter working weeks that fail to deliver "value for money" for taxpayers. It said councils choosing to ignore the advice were now "on notice", saying the policy of allowing four-day weeks on full pay should be axed "immediately". - Telegraph

EY's army of auditors and consultants in Britain generated more fees than ever over the past year, despite the distraction of its failed break-up plan. The Big Four firm's UK revenues climbed by 16 per cent to £3.76 billion in the year to the end of June, surpassing its previous record of £3.23 billion in 2022. Pre-tax profits rose to £659 million, up 4 per cent from £634 million last time around. - The Times

Sir Paul Marshall will seek to emulate the business model of The New York Times with a significant expansion of the Telegraph in the United States if he prevails in the bidding war for the British newspaper group. The hedge fund tycoon is drawing up plans to target a market of about 100 million centre-right American voters with a substantial investment in the Telegraph's overseas operations. - The Times

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Sunday newspaper round-up: Middle East, Aston Martin, Defence
(Sharecast News) - Britons must accept that their country was now involved in the Middle East conflict, Tobias Ellwood said. The former defence minister warned that "nobody was in full control" of the growing conflict as more and more countries were sucked in. Ellwood also said that Tehran's strike had taken the conflict into a "new dangerous territory". - Sunday Telegraph
Friday newspaper round-up: Everton, AstraZeneca, Amazon
(Sharecast News) - Everton has paid about £30m in interest charges to an opaque lender associated with a tax exile, corporate records suggest. The charges appear to have reached about £438,000 a week, according to the troubled Premier League club's most recent set of accounts, a figure more than three times the reported wages of the Everton and England goalkeeper Jordan Pickford. - Guardian
Thursday newspaper round-up: Border controls, McKinsey, KPMG
(Sharecast News) - New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson's Brexit deal could add 10% to import costs over the first year. - Guardian
Wednesday newspaper round-up: Shoplifting, EnQuest, Klarna
(Sharecast News) - The government is investing more than £55m in expanding facial recognition systems - including vans that will scan crowded high streets - as part of a renewed crackdown on shoplifting. The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being forced to wear a tag to ensure they do not revisit the scene of their crime, under a new standalone criminal offence of assaulting a retail worker. - 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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