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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: Prepayment meters, Revolut, Marks & Spencer

(Sharecast News) - Leading energy suppliers have stopped reclaiming debts from some prepayment meter customers amid calls for an industry moratorium on clawing back money owed through the devices. The Guardian understands that ScottishPower, which has nearly five million customers, has stopped recovering outstanding debts from people who have been moved on to prepayment meters in recent weeks. - Guardian Britain's most valuable fintech company, Revolut, is assembling a team to track whether staff are being "approachable" and "respectful", as it tries to address criticism about an aggressive corporate culture and secure a UK banking licence. While the crypto trading to payments company is valued at $33bn (£27bn) and boasts 25 million customers and 6,000 staff in offices stretching from London to Tokyo to São Paulo, it has so far lacked a UK licence that would bring the firm within regulated customer protection schemes. - Guardian

Buy now, pay later payments are to impact the credit scores of millions of people for the first time, The Telegraph can reveal. Zilch, a British buy now pay later business with three million users, is to start sharing data on customers' balances and repayments with credit rating agencies in a move that could see people's ability to borrow restricted if they fall behind on payments. - Telegraph

Marks & Spencer is stepping up its store opening programme with the launch of 20 "bigger and better" new shops throughout Britain and the creation of 3,400 jobs. While other retailers are switching online or are disappearing from the high street, Stuart Machin, the chain's co-chief executive, said he was committed to offering "great shops", in spite of previously announcing plans to close 67 underperforming branches. - The Times

Profits at Crispin Odey's hedge fund business halved in its last financial year after a sharp drop in performance fees. Partners at Odey Asset Management shared in £18.8 million profits in the year to April 5, 2022, down from a bumper £39.7 million a year earlier, according to accounts filed at Companies House at the weekend. - The Times

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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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