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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.

Monday newspaper round-up: Credit Suisse, house prices, Revolut

(Sharecast News) - Credit Suisse says 61bn Swiss francs ($68bn/£55bn) left the bank in the first quarter, shedding light on the scale of the bank run that caused the 167-year-old institution to crumble and forced its state-engineered rescue. "These outflows have moderated but have not yet reversed as of April 24 2023," Credit Suisse said on Monday. - Guardian Those people hoping to get on to the UK housing ladder are facing record asking prices, as calm returns to the sector after last autumn's mini-budget spooked the markets. Rightmove, the property portal, reports that the average asking price of properties popular with first-time buyers - those with one or two bedrooms - has hit a record price of £224,963 in the last month. That is 2% higher than a year ago, even though higher mortgage rates have made homes less affordable. - Guardian

National Grid is quitting its foray into developing carbon capture and storage in the UK, in a blow to the Government's net zero ambitions. The FTSE 100 company is abandoning its plans to develop new pipelines in the Humber region to take carbon dioxide emissions out to the North Sea. Its National Grid Ventures arm is in talks to sell the onshore pipeline project to partners, and has already quit another phase of the project. - Telegraph

About $15 billion has been wiped from the valuation of Revolut by one of its most loyal shareholders on the back of a more cautious assessment of financial technology stocks. The 46 per cent writedown by Schroders implies that Britain's biggest fintech unicorn is now valued at about $17.7 billion, well down on the $33 billion price tag implied by a capital-raising in July 2021. - The Times

Error messages flashed up as staff at Capita tried to log into their accounts on Friday, March 31. Frustrated workers were advised not to submit password reset requests to swamped technology teams as the outsourcer got to grips with what was going on. In a preliminary statement that morning, dictated over the phone as the media team was also locked out of its email accounts, Capita said it was investigating a "technical issue" with its IT systems. - 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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