Skip Header
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: Musk, cost-of-living crisis, inflation

(Sharecast News) - Elon Musk told prospective investors that he plans to eliminate nearly 75% of Twitter's staff as part of his deal to take over the social media company, the Washington Post reported on Thursday. Job cuts are expected in the coming months no matter who owns the company, according to the report, which cited interviews and documents. - Guardian Millions of people in the UK are struggling to pay their bills, according to the City watchdog, which said a growing proportion of the population is having trouble making ends meet. A survey by the Financial Conduct Authority (FCA) laid bare the impact of the cost of living crisis, saying about one in four (24%) of adults in the UK were either in financial difficulty or would fall into trouble if they suffered a financial shock. - Guardian

Inflation will hit 15pc next year if the Government scraps its energy price cap and leaves millions of families exposed to a surge in bills, economists have warned. Analysts at Abrdn said Jeremy Hunt's decision to withdraw the universal energy price guarantee next April would put inflation on course to rise at the fastest rate since 1980, unless another subsidy is introduced. - Telegraph

Households are to be paid around £240 to run washing machines and dishwashers overnight this winter as part of National Grid's efforts to avoid blackouts. Homes will be offered payments for every kilowatt-hour of power they do not use at times during testing of the scheme and when National Grid needs to cut demand because there is not enough electricity to go round. - Telegraph

Britain's chief fraud investigator told MPs that she regretted having contact with an American "fixer" in a move that triggered the collapse of a multimillion-pound bribery case. Lisa Osofsky, director of the Serious Fraud Office, was given a grilling by MPs this week when she appeared before the Commons justice select committee for the first time since the publication of a report into the mishandling of the Unaoil case. - The Times

Share this article

Related Sharecast Articles

Monday newspaper round-up: Renewable energy, BlackRock, Frasers Group
(Sharecast News) - A development company that sells off land no longer needed by Thames Water has paid out a £14m dividend despite warnings that it could become engulfed by the water group's financial woes. Accounts filed at Companies House show Kennet Properties paid out a £14.5m dividend in the year to 31 March 2023 despite the difficulties faced by the wider group, which is facing going into administration. - Guardian
Sunday share tips: Mitie, Costain
(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of Mitie to its readers, highlighting it shift from facilities management to facilities transformation.
Sunday newspaper round-up: IDS, Ocado, Foxtons
(Sharecast News) - Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian
Friday newspaper round-up: Thames Water, Netflix, consumer confidence
(Sharecast News) - "Misleading" and "inconsistent" labels make it hard for shoppers to know where their food comes from, the consumer champion Which? has said, as it found supermarket chains were selling products with "meaningless" statements on their packaging. Retailers must supply the "country of origin" for specific foods including fresh fruit and vegetables, unprocessed meats, fish, wine and olive oil but the rules do not generally apply to processed meat or frozen or processed fruit and vegetables. - 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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.