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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: Royal Mail, payments providers, Atom Bank

(Sharecast News) - The chief executive of Royal Mail has been accused of "incompetence or cluelessness" by MPs calling on the regulator Ofcom to investigate whether the company broke legal service requirements. Parliament's cross-party business, energy and industrial strategy (BEIS) committee has asked the watchdog to investigate a suspected breach of the universal service obligation (USO), which requires the postal operator to deliver letters nationwide six days a week. - Guardian Payments providers have been ordered by the City watchdog to strengthen their controls as fears of another financial crisis continue to haunt markets. The Financial Conduct Authority (FCA) threatened to shut down so-called shadow banks - which offer deposit and transfer services without a banking licence - unless they "ensure your customers' money is safe". - Telegraph

A British challenger bank that has championed a four-day working week is seeking £150m in fresh funding from investors. Atom Bank, which has no branches and serves customers through a smartphone app, has reportedly approached investors about raising more money after previously raising £30m in November. - Telegraph

A £205 million annual funding package announced yesterday for the next batch of renewable power projects will be insufficient to spur required investment, the government has been told. Proposed wind, solar, tidal and geothermal electricity projects are expected to compete in this year's auction for contracts that guarantee them a fixed price for electricity. - The Times

A top five shareholder in British American Tobacco has called for the cigarette group to move its primary listing to New York. Rajiv Jain, founder of the $92 billion US-based investment firm GQG Partners, has urged bosses at the FTSE 100-listed owner of Lucky Strike and Dunhill cigarettes to shift its listing from London, which dates back to 1912. - The Times

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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
Friday newspaper round-up: Everton, AstraZeneca, Amazon
(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
Thursday newspaper round-up: Border controls, McKinsey, KPMG
(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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