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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: EY, HS2, Arrival

(Sharecast News) - Deloitte's chief executive has launched a thinly veiled criticism of rival EY after its controversial plans to split the business into two were thrown into turmoil. EY initially announced plans for a radical breakup of its global operations last year, that would separate its audit and advisory businesses. - Guardian HS2 will be delayed by another two years and major roadbuilding schemes will be mothballed, ministers have confirmed, after soaring inflation added billions to the cost of transport infrastructure projects. Ministers insisted they remained committed to Britain's high-speed rail network scheme, but the budget constraints have cast further doubt over prospects for the rail project's full implementation. - Guardian

With spring approaching, Bill Quan is preparing to plant this year's crop of potatoes and peas at his Herefordshire farm. Yet there is a key difference on the field this year. Between the last harvest and the beginnings of the next one, Quan has kept the soil healthy using a mixed-species cover crop. Not only does this add nitrogen and allow the earth to hold more water, it also sucks up carbon dioxide from the atmosphere and sequesters it in organic matter. - Telegraph

A struggling electric vehicle start-up founded in Britain has said it is in line to strike a deal that will bolster its finances, despite making losses of up to $1 billion last year. Losses at Arrival widened to at least $587.6 million in the last quarter of 2022 alone, from $66.6 million the previous year, as it grappled with impairment charges and write-offs tied to decisions to close its British operation, switch to the United States and halt development in Russia. - The Times

Britain is set to become a "significantly worse place to do business" as corporation tax rises and investment incentives expire, new research suggests. The combination of corporate profits being taxed at 25 per cent and the end of the so-called super-deduction tax break will push the UK from tenth place to 33rd out of 38 leading economies in terms of the competitiveness of its business tax regime, the Centre for Policy Studies has warned. - 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

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