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Monday newspaper round-up: Sellafield, HBOS, retail investors

(Sharecast News) - Rachel Reeves has been urged not to carry out mooted funding cuts for nuclear sites including Sellafield amid safety concerns, as it emerged that the number of incidents where workers narrowly avoided harm had increased at the Cumbrian site. The GMB union has written to Reeves, the chancellor, before Wednesday's budget to raise safety concerns after rumours emerged that the budget for the taxpayer-owned Nuclear Decommissioning Authority (NDA) could be reduced, which could result in cuts at nuclear sites including Sellafield and Dounreay in Scotland. - Guardian Pubs and restaurants are warning of closures and a tough Christmas ahead if Rachel Reeves's budget this week raises taxes and ends a Covid-era relief on business rates. Reeves is expected to reveal a tax-raising budget on Wednesday, to pay for improved public services, with Labour sources indicating the government is intending to raise taxes and cut spending by a combined £40bn. Businesses across the economy are bracing for higher taxes, which could dent consumer spending. - Guardian

Plans to shut down a vital terminal in the North Sea have sparked a bitter legal row over claims it will damage the UK's oil and gas production. The proposal by French energy giant TotalEnergies to decommission the Gryphon terminal, which serves four offshore oil and gas fields, has triggered a claim from a rival operator. - Telegraph

A long-delayed independent review into whether Lloyds Banking Group covered up a £1 billion scandal may never fully emerge, leading to claims that the lender "cannot face the truth". MPs on the Treasury committee had expected that the review by Dame Linda Dobbs of the bank's handling of a fraud at HBOS, the lender rescued by Lloyds in 2009, would be shared with them in full. - The Times

Retail investors are piling into the government bond market amid fears that the Labour government will increase the capital gains tax rate on shares in the budget this week. The investment platform AJ Bell reported a 71 per cent increase in the volume of gilts purchased in September compared with August. This was an increase of 177 per cent on September last year. - The Times

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Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - Guardian
Sunday newspaper round-up: Etihad float, Shein, Thames Water
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Friday newspaper round-up: Gambling sector, FOS, Amazon
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - 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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