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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: Debenhams, rail staff, high street premises

(Sharecast News) - Nearly 90% of former Debenhams stores remain empty almost a year after the department store closed its doors for the last time, in a sign of the challenge to reinvent high streets across the country. The empty shops are among nearly 8,000 outlets left empty last year, according to a report by the high street analysts Local Data Company (LDC), as Covid lockdowns accelerated the shift towards shopping online and pummelled city centres. - Guardian Former prime minister Gordon Brown has warned the chancellor, Rishi Sunak, that millions more people will be plunged into fuel poverty unless the government uses next week's spring statement to ease the UK's cost of living crisis. A letter to the chancellor, organised by Brown and signed by more than 70 Labour local government leaders, urged the chancellor to adopt a five-pronged approach to help those struggling to make ends meet. - Guardian

Michael Gove is preparing to use a legal loophole to help councils exit contracts with Russian energy giant Gazprom. The Communities Secretary is drawing up plans to use obscure legislation that says public bodies must favour contracts that represent good social value. Officials are hoping the laws under the Social Value Act will allow councils to walk away from Gazprom deals without having to pay huge exit fees. - Telegraph

Tens of thousands of railway staff are to be forced to work on weekends under Whitehall plans that threaten to spark a war with trade unions. Workers must "shift to today's reality" as outdated weekday-only shift patterns come to an end, rail minister Wendy Morton told an industry conference in London. - Telegraph

The number of empty shops and restaurants in Britain has fallen for the first time since 2018, prompting hopes that a post-pandemic recovery may be under way. In the second half of last year the national vacancy rate declined by 0.1 per cent from the first half to reach 14.4 per cent of all shops, according to the Local Data Company. The drop is the first decline in national vacancy rates in three years. - The Times

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Sunday newspaper round-up: Hargreaves Lansdown, Crest Nicholson, Michael Kors
(Sharecast News) - Hargreaves Lansdown's three private equity suitors have until Wednesday to either table a formal bid for the investment platform or walk away. A £4.7bn offer presented in April was rejected. In particular, the bidders have been attracted by the firm's ability to deposit client cash at the Bank of England for a rate of 5.25%, whilst paying just 3% on a cash Isa of up to £10,000. That netted its £269m last year at no risk. - The Financial Mail on Sunday
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(Sharecast News) - The Financial Mail on Sunday's Midas column labelled shares of Oxford Instruments a "long-term buy".
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(Sharecast News) - The UK has seen an "explosion" in insecure, low-paid work in the past 14 years, according to a new report. The TUC said its study had found that the number of people in insecure work had reached a record high of 4.1 million. The analysis of official statistics shows the number of people in "precarious" employment - such as zero-hours contracts, low-paid self-employment and casual or seasonal work - increased by nearly 1 million between 2011 and 2023. - Guardian
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(Sharecast News) - Pensioners and people on disability benefits are the winners from radical changes to the welfare system made by the Tories over the last decade, while working-age families are losing out by thousands of pounds every year, according to a report by the Resolution Foundation. The Conservatives' 14-year overhaul of social security has shifted spending away from children and housing to supporting elderly people, and broken the link between entitlement and need for some of the poorest households in the country, the report says. - 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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