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Friday newspaper round-up: Deloitte, public finances, Apple sales

(Sharecast News) - Controversial UK government aspirations to replace gas boilers in some homes with a hydrogen-based alternative are likely to be scrapped, Grant Shapps, the energy minister, has indicated. Shapps said he believed hydrogen would form part of Britain's overall energy mix but predicted it was "less likely" that the gas would be routinely piped into people's homes, amid growing concerns about cost, safety and perpetuating a reliance on fossil fuels. - Guardian Another big four consultancy firm has confirmed it misused government information last year, widening a scandal that has engulfed global giant PwC. Deloitte disclosed the breach as part of an ongoing Senate inquiry, but has so far refused to provide any more details about the incident due to client confidentiality. - Guardian

The boss of elite City law firm Allen & Overy has unexpectedly quit in the middle of its planned multibillion-dollar merger with a US rival. Gareth Price, Allen & Overy's global managing partner, resigned for "personal reasons" after three years in the job and more than 30 years at the firm. He was elected to a four-year term that started in May 2020. - Telegraph

Britain's public finances are in a "very risky" condition and debts could rise to more than 300 per cent of gross domestic product within 50 years, the government's fiscal watchdog warned. The Office for Budget Responsibility said that the government would need to impose permanent tax rises and spending cuts equivalent to 4.4 per cent of GDP in 2028-29 if it was to prevent debt from surpassing 100 per cent of GDP in the long term, which is where borrowings presently stand. - The Times

Apple's sales in the UK have hit a new record on the back of strong demand for its top-of-the-range iPhones. The California technology company reported that sales from its online and brick-and-mortar stores across Britain were £1.5 billion in the 12 months to September 24 as revenues rose 61 per cent, according to the latest accounts filed at Companies House. - 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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