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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: Energy bills, mortgage costs, WE Soda

(Sharecast News) - MPs have urged the government to set out its plans to protect households from high energy bills this winter as they said about 1.7 million people, including some of the most vulnerable groups, had been left waiting too long to receive previous support. The public accounts committee (PAC) said that although schemes were introduced quickly, the government "did not have the bandwidth" to make sure help reached all groups in a timely fashion. - Guardian The UK is in danger of being left behind in the global race to decarbonise the economy with potentially disastrous consequences for jobs and communities, according to the TUC's general secretary. In an interview, Paul Nowak said the UK was "limping towards a green future" and he called for a "national collective effort" involving employers, workers and the government to ensure a quick and fair transition to a net zero economy. - Guardian

Three million middle class homeowners are at risk of having their savings wiped out by the recent surge in mortgage costs, a leading think-tank has warned. Analysis from the Institute for Fiscal Studies (IFS) suggests 2.9m middle income mortgage holders would exhaust their savings and be forced to ask for help to meet an unexpected expense of around £2,000. - Telegraph

American regulators are investigating Goldman Sachs over its dealings with Silicon Valley Bank in the days before the regional US lender's collapse this spring. Both the US Federal Reserve and the Securities and Exchange Commission are looking at the investment banking group's role in the weeks before Silicon Valley Bank's failure, according to The Wall Street Journal, which reported that it had also been issued with a subpoena by the US Department of Justice. - The Times

The chief executive of the soda ash supplier WE Soda has suggested that the company might opt for New York instead of London if he resurrects the flotation plans that were abruptly shelved this week. In a double blow for London, WE Soda first dropped plans for a landmark £6 billion initial public offering on Wednesday. It then rubbed salt in the wound yesterday by saying that the US might be a better place to float next time. - The Times

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Thursday newspaper round-up: Solar panels, OBR, Chevron
(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
Wednesday newspaper round-up: British economy, Heathrow, FOS
(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - Guardian
Tuesday newspaper round-up: OpenAI, EVs, gas prices
(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - Guardian
Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - 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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