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Friday newspaper round-up: Sainsbury's, Glencore, LSE

(Sharecast News) - The Ministry of Defence has awarded £650m to manufacturers working on its Tempest fighter jet, in the latest sign that the UK is pushing forward with the aim of producing the aircraft by 2035. The companies who will receive the money are led by manufacturer BAE Systems, jet engine maker Rolls-Royce, and the UK arms of Italy's Leonardo and European missile-maker MBDA. - Guardian Sainsbury's has followed Tesco in cutting the price of milk by 5p a pint as supermarkets take advantage of a spring boost to production amid lacklustre demand. Tesco, the UK's biggest supermarket, cut the price of milk to 90p for a pint or £1.55 for four pints - a reduction of 10p - for the first time since 2020 this week. - Guardian

Britain's flagship heat pump scheme has been branded an "embarrassment" after badly missing its target of 30,000 annual installations and spending just 40pc of its budget. Fewer than 10,000 heat pumps were installed in the first year of the grant programme, which gives households money to pay for them as part of net zero efforts to wean Britain off gas. - Telegraph

Jeremy Hunt has warned that workers are not getting good enough returns from their pension investments and vowed to overhaul Britain's retirement regime. The Chancellor said that Britain's pension industry was in need of "big reform" and should follow the likes of Australia and Canada by allowing more money to be put into lucrative but potentially more risky assets such as infrastructure. - Telegraph

Glencore's $23 billion takeover tilt at Teck suffered further setbacks yesterday when it was rebuffed once more by its Canadian target and was criticised by a high-profile shareholder. Teck called Glencore's attempt to merge the two companies and spin off their combined coal assets "opportunistic and unrealistic". - The Times

A former investment banker and hedge fund manager have teamed up with the London Stock Exchange Group to launch a service enabling institutional clients to take leveraged bets on bitcoin. Arnab Sen, 44, co-founder of London-based GFO-X, revealed plans yesterday to go live in the fourth quarter of this year, announcing that the LSEG's LCH clearing house operation in Paris had been signed up to clear the derivatives trades. - 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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