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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.

Thursday newspaper round-up: Telecoms bills, Dyson, Ocado, Elon Musk

(Sharecast News) - Almost 6 million UK households are struggling to pay their mobile, landline and broadband bills, with the cost of living squeeze forcing many to cut back on essentials such as food and clothes, cancel or change a service, or miss payments to stay connected. A report from the consumer group Which? estimates that 5.7 million households have experienced at least one "affordability issue" in April, as cash-strapped homes struggle to cope with soaring bills and other costs. - Guardian The technology company Dyson has been fined more than £1m after one of its employees was injured when a giant milling machine fell on top of him. Dyson was ordered to pay £1.2m at Swindon magistrates court for failing to properly train its staff in handling the kit. The firm pleaded guilty to breaching health and safety laws. - Guardian

A senior City lawyer who told a client to "burn" chat logs to prevent evidence reaching Ocado could face prison for contempt of court. Raymond McKeeve, a former partner at Jones Day, was found by a High Court judge to have intentionally destroyed documents to stop data being searched at a company created by Jonathan Faiman, Ocado's co-founder. A search order had been issued after Ocado accused Mr Faiman's company of stealing corporate intelligence. - Telegraph

The Serious Fraud Office has convicted a fraudster of encouraging thousands of people to invest in properties in the Caribbean that were never built. David Ames has been found guilty on two counts of fraud by abuse of position for his role in the seven-year scheme as head of Harlequin Group. Mr Ames convinced 8,000 investors to pay a 30pc deposit on an unbuilt villa or hotel room and took half of the money as fees for the company and salesmen. - Telegraph

Elon Musk is seeking details from Goldman Sachs and JP Morgan Chase about how the two banks advised Twitter when the Tesla boss was pursuing his $44 billion takeover of the social media company. Twitter is attempting to force Musk to complete the buyout, which the billionaire said in July he was backing out of over claims that the business had breached the terms of an agreement. - The Times

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Thursday newspaper round-up: Fertiliser shortages, speed limits, Elon Musk
(Sharecast News) - Fertiliser shortages caused by the Iran war have driven up costs for UK farmers by up to 70% and will have a "dramatic" impact on food prices globally next year, according to one of Britain's most powerful property and farming companies. Mark Preston, executive trustee of the 349-year-old Grosvenor Group, controlled by the Duke of Westminster, said fertiliser "was already quite expensive" before the 50% to 70% surge in prices since the start of the Iran war in late February. - Guardian
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(Sharecast News) - Four in five people are worried that the Iran war will make food more expensive, according to a new poll, as businesses warned the "window is closing" for ministers to cut energy costs for UK retailers. Research by Opinium found that 80% of people are worried about the rising price of groceries, which would come from retailers passing on cost increases to consumers, while 73% expect the conflict to push up prices of other products. - Guardian
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(Sharecast News) - Jaguar Land Rover would have considered moving car production out of the UK and slashing jobs if not for a £380m subsidy for its sister battery company, government officials claimed privately. Officials at the Department for Business and Trade (DBT) warned in December that Britain's largest automotive employer may have triggered an exodus from the UK car industry, according to state aid documents prepared by the competition regulator. - 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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