Skip Header
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: Wilko, Bank of England, Oil prices

(Sharecast News) - Budget homeware chain Wilko was yesterday teetering on the brink of collapse, putting around 12,000 jobs at risk. The retailer, which has around 400 stores, said that it was primed to appoint administrators after struggling to find a financial lifeline. In recent years the High Street has been struggling with painful cost increases, while shoppers' budgets have been restricted by historically high inflation levels. - Daily Mail Five savings providers have announced they are upping easy-access deals following the Bank of England's base rate hike. Skipton Building Society and Nationwide Building Society are among those upping their variable rates in response to the Bank of England adding 0.25 percentage points on to base rate to take it to 5.25 per cent earlier today. HSBC has boosted rates on its easy-access accounts, Isas and children's accounts, while First Direct bank has also upped rates across its easy access accounts and Isa. - Daily Mail

Oil prices rose by more than 2 per cent yesterday after Saudi Arabia warned that it would extend cuts to production in conjunction with Russia into September and possibly beyond. Saudi Arabia said it would extend a voluntary oil output cut of one million barrels per day for another month to include September, adding it could be extended beyond that or deepened. Its daily production is expected to be about 9 million barrels in September. - The Times

Transparency campaigners have called for thinktanks to be more open about their funding sources, after it emerged that some of Britain's most influential ones received more than $1m (£787,000) from from donations in the US in 2021. They include the Institute of Economic Affairs (IEA), regarded as an inspiration for policies adopted by the Liz Truss government, and Policy Exchange - a conservative thinktank used as a platform by ministers to trail new measures and which recently incubated hardline immigration plans. - Guardian

Share this article

Related Sharecast Articles

Sunday share tips: PPHE, Keystone Law
(Sharecast News) - The Financial Mail on Sunday's Midas column labelled shares of PPHE an "attractive long-term buy" citing their valuation.
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

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.