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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: Twitter, Harbour Energy, Unilever

(Sharecast News) - Tax dodging and non-compliance during the pandemic cost the government £9bn, Whitehall's spending watchdog has found. The loss to the public purse came as HM Revenue & Customs (HMRC) moved thousands of tax compliance staff to Covid support schemes, reducing its capacity to investigate people and businesses not paying the right amount, according to the National Audit Office. - Guardian A number of prominent journalists who have reported on Twitter and its new chief executive, Elon Musk, appear to have been suspended or banned from the platform. In a series of evening tweets, Musk wrote that sharing his real-time location on Twitter was forbidden, and accused journalists who he alleged had been sharing information about his location of posting "assassination coordinates". - Guardian

Britain's largest North Sea oil producer is refusing to bid for new UK oil and gas wells and reviewing its investments in response to the Government's tax raid on the sector. Harbour Energy said it had decided not to bid for new blocks in the ongoing North Sea licensing round, the first since 2019, after the Government imposed a windfall tax on oil and gas producers earlier in the year. - Telegraph

Unilever has settled its lawsuit with Ben & Jerry's, bringing to an end an 18-month dispute over ice cream sales in occupied Palestinian territories. In a brief statement posted online, the consumer goods giant said it was "pleased to announce that the litigation with Ben & Jerry's Independent Board has been resolved". - Telegraph

The biggest changes to personal taxation in a quarter of a century are to be postponed for a further two years because the computer systems are not ready, triggering concerns that the government is set for another costly public sector IT disaster. The Treasury is to postpone its programme to digitise the tax system - which would have forced 4.2 million self-employed workers and small businesses to file tax returns multiple times a year - from April 2024 until 2026. - The Times

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Sunday newspaper round-up: Hargreaves Lansdown, Crest Nicholson, Michael Kors
(Sharecast News) - Hargreaves Lansdown's three private equity suitors have until Wednesday to either table a formal bid for the investment platform or walk away. A £4.7bn offer presented in April was rejected. In particular, the bidders have been attracted by the firm's ability to deposit client cash at the Bank of England for a rate of 5.25%, whilst paying just 3% on a cash Isa of up to £10,000. That netted its £269m last year at no risk. - The Financial Mail on Sunday
Sunday share tips: Oxford Instruments
(Sharecast News) - The Financial Mail on Sunday's Midas column labelled shares of Oxford Instruments a "long-term buy".
Friday newspaper round-up: Insecure work, Stellantis, Nationwide
(Sharecast News) - The UK has seen an "explosion" in insecure, low-paid work in the past 14 years, according to a new report. The TUC said its study had found that the number of people in insecure work had reached a record high of 4.1 million. The analysis of official statistics shows the number of people in "precarious" employment - such as zero-hours contracts, low-paid self-employment and casual or seasonal work - increased by nearly 1 million between 2011 and 2023. - Guardian
Thursday newspaper round-up: Revolut, BT Group, housing market
(Sharecast News) - Pensioners and people on disability benefits are the winners from radical changes to the welfare system made by the Tories over the last decade, while working-age families are losing out by thousands of pounds every year, according to a report by the Resolution Foundation. The Conservatives' 14-year overhaul of social security has shifted spending away from children and housing to supporting elderly people, and broken the link between entitlement and need for some of the poorest households in the country, the report says. - 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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