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Thursday newspaper round-up: Brexit, UK water companies, National Grid

(Sharecast News) - Brexit has not contributed to labour market shortages in the UK, according to Andrew Bailey, the Bank of England governor. Speaking at a panel with other major central bankers, Bailey said the UK's inflationary problem was partly the result of workers choosing to leave the workforce after the pandemic and not returning. He said the bulk of this labour market shrinkage was caused by factors outside the UK's exit from the European Union, which put a stop to the free movement of labour from the 27-country bloc. - The Times Britain's beleaguered water sector is creaking under the weight of a £65billion debt mountain that could rise even further due to inflation. The staggering combined debt pile built up by the UK's 12 water companies means that huge swathes of cash are being spent on interest payments - money that could be spent cleaning up polluted rivers or fixing leaky pipes. And they face falling deeper into the red as a big chunk of the debt is linked to inflation, which has been rising sharply. - Daily Mail

National Grid has failed to secure emergency backup coal plants to help prevent blackouts this winter after Drax rejected requests to reopen parts of its north Yorkshire power station. The company responsible for keeping Britain's lights on warned this month that the country was at risk of controlled power cuts this winter in a worst-case scenario if it was unable to import enough energy. - The Times

The crown estate has generated record profits of almost half a billion pounds from Britain's offshore windfarms, as talks continue over how much of the windfall should be shared with King Charles. The royal property manager made £443m in profits in its last financial year, up by almost £130m from the year before, in large part thanks to payments made by renewable energy companies for the right to access the seabed. - Guardian

Ten major pension funds, which collectively manage around £300billion in assets and include schemes run on behalf of the Church of England and HSBC UK, said, in an letter to the Financial Conduct Authority (FCA), changing laws on listings would not lead to 'healthy capital markets' and would 'exacerbate' existing difficulties in attracting investment to the City. - Daily Mail

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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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