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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: Gambling, HSBC, Phones4U, GSK

(Sharecast News) - The value of food exports to the EU dropped by £2.4bn in the first 15 months after Brexit, according to analysis of HMRC data. However, overall exports, which were hit by the double whammy of Brexit red tape as well as decreased demand in hospitality due to the pandemic in 2021, recovered in the first three months of this year, the figures show. Data tracking exports since 1 January 2021, when the Brexit transition year ended, show UK food exports dropped by 19% to £10.4bn in the 15 months to 31 March 2022. - Guardian MPs will this week write to the prime minister to voice concern that No 10 policy advisers with past ties to the gambling industry may be opposing tougher regulation designed to protect vulnerable people and addicts. It comes as Guardian analysis reveals that the industry lavished £280,000 on MPs in the run-up to an overhaul of gambling laws, which were expected to be published next week. - Guardian

HSBC is closing in on a deal to sell its Russian business to the banking tycoon Igor Kim following pressure from MPs to withdraw and fully condemn Vladimir Putin's war in Ukraine. The lender is understood to be in talks with Expobank, which is owned by Mr Kim, over a sale, with discussions said to be at an advanced stage. - Telegraph

The chairman of Six Nations Rugby has denied conspiring to destroy Phones 4U when he ran the mobile operator O2, despite discussing business opportunities with his rival at EE. Ronan Dunne testified to the High Court on Wednesday that he attended a secret lunch with Olaf Swantee in 2012 but said he did not discuss pricing strategies for the two networks' upcoming 4G services. - Telegraph

GSK shareholders have overwhelmingly voted in support of plans to break up the drugs group through the demerger and listing of Haleon, its consumer healthcare business, later this month. At a general meeting yesterday at Heathrow, 99.8 per cent of voting investors approved the separation, which is set to take place via the listing of Haleon on the London Stock Exchange on July 18. - The Times

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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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