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Friday newspaper round-up: UK economy, Royal Mail, Twitter

(Sharecast News) - Britain's economy is expected to take until 2024 to recover to pre-Covid levels amid a slowdown for hiring and business investment, as households and businesses struggle with soaring costs. Business leaders have said that there has been a significant decline of key economic indicators in recent weeks, with confidence among company bosses over the growth outlook collapsing to the lowest level since the depths of the Covid crisis. - Guardian The dairy co-operative Arla Foods has announced it will pay its farmers more money for the milk they produce if they meet new environmental sustainability targets. Arla is introducing the "sustainability incentive" with the aim of promoting and funding the reduction of emissions on the farms of its 8,900 members, based in the UK and six other European countries including Denmark, Sweden and Germany. - Guardian

Royal Mail rushed forward the monthly payment into its pension scheme to help prevent a cash crunch, The Telegraph can reveal, after the mini-Budget sent crucial money markets into a tailspin. The company responded to a request from the trustees of the Royal Mail Pension Plan to provide emergency liquidity, amid fears across the City that a run on pension funds driven by products known as Liability-Driven Investments (LDIs) would leave major funds insolvent. The Royal Mail scheme has 124,000 members and liabilities of £11bn. - Telegraph

Households will be offered £20 a month to cut their energy usage during peak hours in a trial scheme from one of the country's biggest suppliers to help avert rolling blackouts this winter. Ovo Energy, which has 4.5m customers, will offer families money if they are able to cut their energy usage by a third between 4-7pm when demand on the grid is highest, amid concern of electricity shortages. - Telegraph

The head of the International Monetary Fund has warned that it will downgrade its growth outlook for the world economy as a third of countries are due to fall imminently into recession. Kristalina Georgieva, the managing director, said the global recovery from the Covid-19 pandemic had suffered a "massive setback" that would wipe $4 trillion off global output until 2026. - The Times

A Delaware judge has given Elon Musk until the end of the month to complete his Twitter takeover, delaying a highly anticipated trial over his bid to terminate the $44 billion deal. The world's richest man must now buy the social media group by 5pm on October 28 if he is to avoid court. - 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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