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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: Morrisons, JLR, Intel

(Sharecast News) - Morrisons is testing out raising the temperature of its freezers by 3C in the first move by a UK supermarket to depart from a long-held industry standard, in order to save energy and money. The Bradford-based chain said it would increase the temperature on appliances in 10 of its stores to -15C from -18C, the industry standard set almost 100 years ago and left unchanged. - Guardian The UK's Serious Fraud Office has charged Glencore's billionaire former head of oil trading with conspiring to make corrupt payments to benefit the commodities company's oil operations in West Africa. Alex Beard, who ran Glencore's oil division from 2007 until his retirement in 2019, will face charges alongside former Glencore executives Andrew Gibson, Paul Hopkirk, Ramon Labiaga and Martin Wakefield after a long-running investigation into allegations of bribery at the company. - Guardian

Jaguar Land Rover (JLR) is among a string of luxury carmakers to be hit by major disruption after flooding in Switzerland paralysed a top aluminium producer. The company is scrambling to find alternative suppliers after Novelis, an Indian-owned manufacturer that runs a mill in the alpine city of Sierre, was forced to shut down operations at the end of June. Porsche, BMW and Mercedes have also been affected. - Telegraph

The future of Harland & Wolff is hanging in the balance after the historic Belfast shipyard was handed a $25 million emergency bailout. The company, best known for building the Titanic, also announced that it would scrap plans for a long-awaited restart of ferry services between Cornwall and the Scilly Isles, without a single sailing. - The Times

Intel, the US chipmaker, is planning to cut 15,000 jobs as it attempts to turn around its manufacturing operations, which have fallen behind in artificial intelligence developments. The company's shares fell 20 per cent to $29.05 in after-hours trading in New York on Thursday after it announced a drastic cost reduction plan and forecast lower than expected revenue for the current quarter. Intel also said it would suspend its dividend. - The Times

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Wednesday newspaper round-up: Motor finance compensation, car manufacturers, Rebel Energy
(Sharecast News) - A court of appeal ruling that has left lenders fearing PPI-level compensation bills over the motor finance commission scandal "goes too far", the City regulator said on Tuesday. The Financial Conduct Authority (FCA) made the comments in a written submission to the supreme court on Tuesday, as part of a high-profile case being closely watched by the government. The Treasury, which tried but failed to intervene in the case, is concerned the standing decision could spook businesses and threaten investment in the UK. - Guardian
Tuesday newspaper round-up: Household bills, OpenAI, BBC
(Sharecast News) - Millions of households are bracing themselves for a raft of price increases across a range of bills - from energy and water to car tax and the TV licence - that take effect on Tuesday. With so many costs rising at once - prompting some to label this month "awful April" - the government is facing fresh calls to take action to limit the impact of some of the increases. The Liberal Democrats claimed ministers needed to "get a grip" on energy bills. - Guardian
JPMorgan starts coverage of Wise at 'overweight'
(Sharecast News) - JPMorgan Cazenove initiated coverage of Wise on Monday with an 'overweight' rating and a 1,242p price target.
Monday newspaper round-up: Scams, Aviva, retailers
(Sharecast News) - Anti-scam campaign groups are calling for police forces to be much tougher on fraudsters, who they claim are scamming millions from victims in "a penalty-free crime". The pleas are being made just days after the UK government announced it is working on an "expanded" fraud strategy as part of a "robust response" to surging reported fraud rates, which rose by 19% last year according to the Office for National Statistics. - 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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