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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: Elon Musk, SSE, Ikea

(Sharecast News) - Elon Musk has asked Twitter users whether he should step down as the head of the company, promising to abide by the results of his poll. Musk assumed the role of CEO at the end of October after firing a host of senior executives and dissolving its board of directors. Within minutes of posting the poll, more than one million people had voted. - Guardian The energy company SSE has begun work to develop an underground cavern in east Yorkshire to store hydrogen, aiming to stockpile the renewable source of power for when the freezing, windless conditions experienced in the last week occur in future. The project will produce hydrogen using renewable energy in a 35-megawatt electrolyser which will be stored in a cavern the size of St Paul's Cathedral located a mile deep at an existing SSE site in Aldbrough on the Yorkshire coast. - Guardian

One of the co-founders of Roman ­Abramovich's telecoms company Truphone is preparing to launch an audacious late $250m (£205m) bid to buy back the business, The Telegraph can reveal. Alexander Straub, one of the company's two original co-founders, is in talks with financial backers about gatecrashing the sale of Truphone to Turkish-born entrepreneur Hakan Koç. The effort is backed by a publicly listed special acquisition vehicle from the US, The Telegraph understands. - Telegraph

The UK has already entered a "shallow and protracted recession" that will hit living standards and last until the end of next year, according to a new analysis. KPMG estimates that the economy entered a recession in the third quarter of this year and will contract by 1.3 per cent next year owing to a sharp drop in consumer spending amid rising interest rates. - The Times

Ikea UK enjoyed record revenues of £2.2 billion for the year to August 31 as its pandemic recovery continued. The figure was up 13 per cent year on year. Growth was seen across all areas, particularly within kitchen and dining equipment, textiles and storage, and included online and in-person sales. - 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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