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Thursday newspaper round-up: Diesel, Glencore, HBOS

(Sharecast News) - Drivers experienced a "severe shock" after the price of diesel shot up in October amid the fallout from the Opec+ oil cartel's decision to cut production, the RAC has said. The price of diesel rose by 10p a litre to 190.5p on average - the third worst monthly increase on record, behind previous increases this year, data from the motoring group showed. - Guardian Glencore flew cash bribes to officials in Africa via private jet amid "endemic" corruption within the mining company, a London court has heard, in sentencing of the first ever UK corporate conviction on charges of bribing another person. Third-party agents used Glencore's money to bribe officials in Nigeria, Cameroon, Ivory Coast, Equatorial Guinea and South Sudan, causing harms worth $128m, a sentencing hearing at Southwark crown court heard. - Guardian

Apollo Global Management acquired assets worth $1.1 billion from British pension funds during the fire sale in the wake of September's mini-budget. The American investment group's Athene business raced to acquire collateralised loan obligations - securities backed by debt, also known as CLOs - as pension funds scrambled to raise cash. - The Times

A review into whether executives at Lloyds Banking Group covered up a fraud has been held up yet again, with a witness to the inquiry calling the series of delays an "ongoing scandal". Dame Linda Dobbs, who is leading an investigation into the bank's handling of the HBOS Reading scam, said yesterday that she had experienced "significant delays in concluding interviews with a number of important witnesses", which was having a "material impact" on the completion of her review. - The Times

The cost of capping Britain's energy bills is expected to be slashed by an expected 30pc slide in gas prices this winter, as mild weather and full storage eases fears of shortages across Europe. City economists said the slump in gas prices in recent months will provide a £5bn boost to Chancellor Jeremy Hunt as he mulls options to help families with energy bills beyond next spring. - Telegraph

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Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - Guardian
Sunday newspaper round-up: Etihad float, Shein, Thames Water
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Friday newspaper round-up: Gambling sector, FOS, Amazon
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - 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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