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Friday newspaper round-up: UK shoppers, Heathrow, Frasers

(Sharecast News) - As the cost of living crisis builds up UK shoppers are slashing their budgets in almost all areas. But there is a notable exception - the money spent on clothing is above pre-pandemic levels, the return of weddings, holidays and socialising fuelling a boom in "revenge spending" or buying those treats missed over months of pandemic lockdowns. Shoppers are forking out almost a fifth more on clothing than last year, research from Kantar for the Guardian has found, taking the value 1% ahead of the 2019 figure. - Guardian Ministers have issued an ultimatum to the chief executive of Heathrow, calling on him to provide a plan to resolve the airport's staffing problems, it has been reported. John Holland-Kaye has until midday on Friday to assure ministers that the airport has sufficient workers for security screening and to assist disabled passengers, according to a letter from the Department for Transport's (DfT) director general for aviation, maritime and security and the chief executive of the Civil Aviation Authority (CAA) seen by the Daily Telegraph. - Guardian

Mike Ashley's Frasers has banned staff from working from home on Fridays after some employees were caught posting too often on social media. The retailer, which owns Sports Direct and House of Fraser, has ended its flexible Friday policy and asked staff to be in the office all week. An internal memo, sent by the company's operating chief, said "Frasers Friday" had become "an unproductive day of the week", the Sun first reported. - Telegraph

Homeowners with solar panels are missing out on hundreds of pounds due to rules that let energy companies underpay them for power. After months of rocketing electricity prices, a three-bedroom household with solar panels should now be able to make more than £400 a year by selling spare solar power to the grid. But under the export tariffs offered by some energy companies, they would receive as little as £22, analysis shows.- Telegraph

Europe may have to ration energy this winter if Russia cuts off the gas while Britain will also face "really, really high prices", senior energy leaders have warned. The bosses of Shell and National Grid's electricity system operator (ESO) both issued stark warnings about the bleak winter ahead, after President Putin threatened that sanctions could result in catastrophic consequences for energy markets. - The Times

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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
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - 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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