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Thursday newspaper round-up: BNPL, Britishvolt, Reckitt, Rolls-Royce

(Sharecast News) - Almost a third of shoppers who use buy now, pay later credit say repayments on the loans have become "unmanageable", with the cost of living crisis pushing them into a debt spiral, new research has found. Consumers are spending more via the controversial form of credit, with shoppers who use BNPL now paying off an average of 4.8 purchases - almost double the 2.6 purchases in February, the research found. The average BNPL user's outstanding balance currently stands at £254.` - Guardian Cross-party MPs are forming a special group to scrutinise post-Brexit rules for City firms, amid concerns that the overhaul could result in a regulatory race to the bottom. The new subcommittee, which will be run by Treasury committee members and advised by a panel of experts, is meant to make up for the fact that new rules are no longer being dissected by politicians from the European parliament's economic and monetary affairs committee, after the UK's exit from the EU. - Guardian

A British electric car battery maker is targeting Tesla as a client by developing power cells designed to appeal to Elon Musk. Britishvolt, which is building a gigafactory in Blyth after raising £1.7bn, is working on lighter, cheaper batteries similar to the prototype 4680 cells that Mr Musk's company ordered earlier this year from Panasonic. A source said that if Britishvolt could provide performance batteries to Tesla it would be a "win for the UK" and its battery research. - Telegraph

A group of senior Democratic politicians has urged America's Department of Justice to closely scrutinise and even consider suing to block the potential sale of Reckitt Benckiser's infant formula business. The FTSE 100 consumer goods group "could shallow out the market" by offloading its baby formula business following widespread shortages in the United States, according to Elizabeth Warren, Bernie Sanders and Cory Booker. In a letter, they warned antitrust officials that a private equity takeover of the country's second-biggest manufacturer would pose a threat to competition and risk exacerbating existing issues for consumers. - The Times

Rolls-Royce has said that it can only deliver its first "mini" nuclear plant by its 2029 target date if the government commits this year to deploying the technology - years before it even gets safety approval. The small modular reactor (SMR) consortium led by the FTSE 100 group has made an audacious pitch to ministers to fast-track the technology in Britain despite its early stage of development. - The Times

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Sunday newspaper round-up: Middle East, Aston Martin, Defence
(Sharecast News) - Britons must accept that their country was now involved in the Middle East conflict, Tobias Ellwood said. The former defence minister warned that "nobody was in full control" of the growing conflict as more and more countries were sucked in. Ellwood also said that Tehran's strike had taken the conflict into a "new dangerous territory". - Sunday Telegraph
Friday newspaper round-up: Everton, AstraZeneca, Amazon
(Sharecast News) - Everton has paid about £30m in interest charges to an opaque lender associated with a tax exile, corporate records suggest. The charges appear to have reached about £438,000 a week, according to the troubled Premier League club's most recent set of accounts, a figure more than three times the reported wages of the Everton and England goalkeeper Jordan Pickford. - Guardian
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

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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