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Friday newspaper round-up: Grocery inflation, income tax, rail strikes, landlord rules

(Sharecast News) - Supermarkets have told ministers that food prices have peaked and will start falling significantly in the coming months. The Treasury held a call with leading supermarkets after Andrew Bailey, governor of the Bank of England, blamed the "very big underlying shock" for stubbornly high inflation. - The Times The Treasury will be able to slash the basic rate of income tax by 2p if Britons who left jobs during the pandemic return to work, a Cabinet minister has declared. Mel Stride, the Work and Pensions Secretary, who is responsible for overseeing the Government's drive to boost employment numbers, said there were still 400,000 fewer workers than before Covid. A 2p cut in the basic rate of income tax would mean a fall from 20 per cent to 18 per cent. - Telegraph

Rail services across Britain will be severely disrupted on Friday as train drivers stage the first of the latest wave of planned strikes in a long-running pay dispute. Members of the drivers' union Aslef will strike for 24 hours across virtually all the big passenger operators in England, stopping some major intercity and commuter services entirely. - Guardian

President Zelensky has been blocked by the BBC and other international broadcasters from addressing the world at the Eurovision Song Contest. A request by the Ukrainian leader to make a surprise video appearance during the final, in which he was expected to urge the global audience of 160 million to continue their support for his country in the face of Russian aggression, was turned down by event owners. - The Times

Landlords in England will be able to evict tenants for antisocial behaviour more easily as part of a wider package of reforms to the rental market, after heavy lobbying by industry organisations and Conservative backbenchers. Michael Gove will use the renters' reform bill, which could be introduced to the Commons as soon as next week, to strengthen landlords' rights when it comes to dealing with alleged antisocial behaviour. - Guardian

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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
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(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
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(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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