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Monday newspaper round-up: House prices, UK manufacturers, Asda

(Sharecast News) - House prices in Great Britain hit a record high in June but are likely to start falling during the next few months as five interest rate rises and a worsening cost of living crisis finally start to put the brakes on the property market's record-breaking run, according to Rightmove. The property website said asking prices hit a record for a fifth consecutive month in June, rising by 0.3% - or £1,113 - to reach £368,614. However, this was the smallest monthly increase since January, with the site saying: "The exceptional pace of the market is easing a little." - Guardian British manufacturers have called on the Treasury to urgently provide more support amid a poor economic outlook to help "weather the immediate storm". Make UK, the trade body for manufacturers, and the consultancy BDO found that costs were continuing to rise and output opportunities had been stifled. - Guardian

Germany is to reopen mothballed coal power plants to combat high gas prices, piling pressure on Boris Johnson to cut taxes on household energy bills. The German government will pass emergency laws to reactivate the coal plants as Europe takes steps to deal with reduced energy supplies from Russia. The announcement on Sunday came as part of a series of measures, including new incentives for companies to burn less natural gas. - Telegraph

The highly leveraged £6.8 billion takeover of Asda resulted in the supermarket paying £375.1 million in interest last year, new accounts have shown. Asda's new owners are yet to take any dividends from the business, but, as a result of the £4.06 billion of debt used to finance their takeover, the company has paid £202 million of interest on external debt, £106 million on its lease liabilities, £56 million on intercompany loans and £2 million of additional undisclosed interest payments, according to Companies House filings from the owners' Bellis Finco vehicle. - The Times

More than 6.5 million people plan to quit their jobs within the next year as they search for better pay and benefits and an improved work/life balance. Worsening staff shortages have forced companies to pay staff more, as well as to offer improved training and other incentives in the battle for talent. - 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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