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Friday newspaper round-up: Energy bills, John Lewis, EDF, HSBC

(Sharecast News) - Ministers have been warned that energy bills will cost more than two month's wages next year unless new help is given to households, as the chancellor, Nadhim Zahawi, told firms they must invest their "extraordinary" profits or face the threat of further taxation. The TUC ramped up calls for the government to cancel the October energy price cap rise, saying the cost of living crisis this winter was an "emergency of pandemic scale". - Guardian

John Lewis is to retire its 97-year-old price pledge "never knowingly undersold" on 22 August but has yet to reveal a catchy new slogan to take its place. The department store chain told customers in an email it will not accept new claims under the pledge from 23 August, instead promising them - rather long-windedly - it is "always knowingly committed to outstanding value". - Guardian

EDF energy customers in Britain are paying almost two-and-a-half times as much as their counterparts in France after Emmanuel Macron imposed strict caps on price rises. EDF customers in Britain have had their bills capped at £1,971 by energy regulator Ofgem, while French customers on regulated tariffs face bills of around €950 (£803). - Telegraph

The Chinese group that wants to break up HSBC has escalated its campaign against the bank by claiming its plan would unlock as much as $35 billion in value and dismissing the lender's warnings about the dangers of a split. Ping An, the insurer that is HSBC's biggest shareholder with a 9 per cent stake, has urged the FTSE 100 lender to spin off its Asian business into a separate company listed in Hong Kong. Bosses at the bank have rejected the idea, but a source close to Ping An said yesterday that HSBC had exaggerated the risks posed by a break-up. - The Times

Sam Laidlaw, the former Centrica boss and founder of Neptune Energy, has warned that the windfall tax could limit the oil and gas explorer's long-term investment in Britain. The new tax regime "increased uncertainty" and would lead to companies such as Neptune "favouring" projects in countries where energy policies "support a stable and predictable investment climate to encourage new investment", he said. - 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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