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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.

Sunday newspaper round-up: House prices, Brexit, Credit Suisse

(Sharecast News) - The founder of property website Rightmove, Harry Hill, is nervous about a potentially deep recession, which he believes could see transactions and house prices fall by double figures with the latter possibly down by 20%. With monthly mortgage repayments set to double next year, many mortgage holders may opt to sell. However, Hill also pointed out the housing market's brilliant run over recent years, such that most property values are well above the acquisition price. Hill has been mooted by activist investor Adam Smith as an ideal candidate to replace Purplebricks chairman Paul Pindar. - The Financial Mail on Sunday The newest face on the Monetary Policy Committee, Swati Dhingra, told the Observer in an interview that Brexit was a factor in the surge seen in food prices. "I'm not going to make a statement about the political choice of it. If it was a political choice, and it has some economic cost, then people need to be aware of what that economic cost is. And whether that changes their mind or not is another matter." She also said that interest rate hikes should peak below 4.5%. Furthermore, financial markets were likely underestimating the damage that higher rates would inflict on the economy. In her opinion, more aggressive hikes risked making the economic downturn worse. - Guardian

Former Barclays chief, Bob Diamond, is plotting a return to high finance via a bid to back a part of investment bank Credit Suisse. Diamond, who already owns a majority stake in City broker Panmure Gordon, is now eyeing a stake in CS First Boston, the corporate finance unit which is set to be spun off from Credit Suisse. The idea is to bring third party investors into CS First Boston ahead of a stock market listing in the next five years. - The Sunday Times

Bookings for the 2023 summer holiday season are running a quarter ahead of their level from before the pandemic. That is according to Julia Lo BueSaid, boss of Advantage Travel. Demand is especially strong for all-inclusive packages for which bookings are up by 30%, according to On The Beach chief customer officer Zoe Harris. By destinations, Turkey was increasingly popular and would likely overtake Spain as the top choice. - Financial Mail on Sunday

Runaway inflation in Britain is set to brake before 2022 is out thanks to declines in commodity prices and easing supply chain pressures as Beijing loosens its Covid-19 lockdowns. Paul Dales, chief UK economist at Capital Economics, said that the annual rate of fuel inflation had halved due to falling petrol prices and food prices were set to start dropping as well. Iron ore prices had also slid by half. Just the day before, China had announced a further easing in its restrictions and the energy price guarantee was limiting cost rises for UK households. - The Sunday 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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