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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: Corporate profiteering, Nationwide, THG

(Sharecast News) - Profiteering has played a significant role in boosting inflation during 2022, according to a report that calls for a global corporation tax to curb excess profits. Analysis of the financial accounts of many of the UK's biggest businesses found that profits far outpaced increases in costs, helping to push up inflation last year to levels not seen since the early 1980s. - Guardian Nationwide has told the 13,000 staff it had said would not be forced to return to the office when Covid lockdowns ended that they must start coming in from early next year for at least two days a week for most. During the coronavirus crisis the UK's biggest building society unveiled one of the most far-reaching flexible working policies, called "work anywhere", telling all staff who did not work in its branches that it was "putting our employees in control of where they work from". - Guardian

The world is in a new era of low growth and high interest rates, according to BlackRock, the world's largest asset manager. It warned that inflation will be far more volatile than it has been in recent years - and economies can no longer grow as quickly as they have in the past without stoking price rises. - Telegraph

A New York-listed mortgage trust managed by the private equity giant Blackstone is at risk of a cash crunch, the hedge fund Muddy Waters has said. Carson Block, chief executive of Muddy Waters, revealed on Wednesday that it had begun shorting the stock, saying souring commercial loans could trigger a "liquidity crisis". - Telegraph

THG's activist investor has stepped up its campaign by urging the company to confirm break-up plans. Kelso Group has written to the business's board calling for a stock market statement outlining proposals for a demerger of its three divisions. THG operates a beauty business, a nutrition business, and an e-commerce services platform, Ingenuity. The company first listed on the stock exchange in September 2020 with a valuation of about £5 billion, but its share price has since declined and the company is now worth around £1 billion. - 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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