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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: Natwest, Shein, Nationwide

(Sharecast News) - NatWest may not be selling shares to the public any time soon following the prime minister's decision to call an election on 4 July. The Treasury has said that an offer will not occur during the election period and Labour has not confirmed whether it would revive plans for the sale should it win. The sale had been expected to take place in June. - The Sunday Times

Some of Britain's biggest fund managers have voiced their dissatisfaction with the expected float of fast fashion outfit Shein in London due to its poor record when it comes to workers' rights. The managers include Aviva, Schroders and M&G. The capital is fighting New York for the £53bn public offering. The UK Sustainable Investment and Finance Association meantime wants to keep London from turning into the last resort for firms with poor human rights records to list. - The Financial Mail on Sunday

Nationwide looked into possible acquisitions of Co-op Bank, TSB and Metro before putting in a £2.9bn bid for rival Virgin Money. Nationwide boss Debbie Crosby said the financial benefits to its members of a bid for Virgin were "stand-out". Yet the offer has been criticised for not having given those same 16m members a say. Virgin Money shareholders on the other hand have accepted despite the seemingly low price on offer. - The Sunday Times

An unexpected decline in bank bonuses means that whichever party wins the next elections will be facing an even tougher environment. Income tax and National Insurance contributions undershot forecasts by nearly £5bn during the previous financial year, according to the Office for Budget Responsibility. Rishi Sunak called the snap vote after being told by Treasury officials that there was no money left for "meaningful" tax cuts to be announced at the autumn budget. - The Sunday Telegraph

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Monday newspaper round-up: Pubs, country houses, Severn Trent
(Sharecast News) - The boss of the pub chain Greene King has called for changes to business rates to remedy "unfairness" that he said added to financial pressures on the struggling pubs industry. Nick Mackenzie, Greene King's chief executive, said the business rates system of property taxes should be changed to a tax on profits. - Guardian
Sunday newspaper round-up: EU tariffs, Begbies Traynor, Burberry's
(Sharecast News) - The US President announced that imports from the EU and Mexico would both be taxed at 30% commencing on 1 August. The announcement was a surprise for both Brussels and the US trade representative, Jamieson Greer, as both believed that they had reached a deal that would be acceptable to both sides. EU trade ministers' previously scheduled Monday meeting will now see them come under pressure to show a "tough" reaction. - Guardian
Friday newspaper round-up: Speciality Steel UK, Canada tariffs, X and Meta
(Sharecast News) - Ministers are considering options to step in to save another major steel plant if its parent company collapses into administration after a key court case next week. The business secretary, Jonathan Reynolds, is understood to be looking at what the government can do to support Speciality Steel UK (SSUK) - part of the Liberty Steel Group owned by Sanjeev Gupta - should it be faced with possible closure after Wednesday's insolvency hearing. - Guardian
Thursday newspaper round-up: Thames Water, high streets, X boss
(Sharecast News) - Thames Water paid almost £2.5m to senior managers from an emergency loan that was meant to be used to keep the failing utilities company afloat - and has refused to claw back the payments, newly released documents reveal. The struggling water supplier paid bonuses totalling £2.46m to 21 managers on 30 April. - 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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