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Thursday newspaper round-up: Inflation, Post Office, public sector

(Sharecast News) - Rishi Sunak is at risk of missing his flagship target to halve inflation this year, one of Britain's leading economic forecasters has warned, as households are left thousands of pounds worse off amid the cost of living crisis. Sounding the alarm over the hit to living standards, the National Institute of Economic and Social Research said the soaring price of food and other basic essentials meant inflation was on track to remain persistently high for the rest of this year. - Guardian The Post Office is facing a government investigation after paying bonuses to executives for supplying evidence to the public inquiry into the Horizon computer system scandal. Kevin Hollinrake, the business minister, has demanded an "immediate explanation" from the Post Office after parts of chief executive Nick Read's £450,000 bonus were linked to providing "all required evidence and information on time". - Telegraph

Britain's bloated public sector is nearly twice as large as official figures suggest, economists have said, after the Tories failed to stem its relentless growth over the past 13 years. Analysis by the National Institute of Economic and Social Research (Niesr) suggests that around 10.6m people are employed by the state - far more than the 5.7m typically cited by the Government. - Telegraph

Shares in Carl Icahn's conglomerate fell sharply after it revealed that federal prosecutors had been in touch to request information a day after a short-seller alleged that it was operating a "Ponzi-like economic structure". The veteran American activist investor has forcefully pushed back against the report from Hindenburg Research, pledging to "vigorously defend" his business and branding the criticism "fundamentally flawed". - The Times

About 1.6 million households and businesses were paid a total of almost £11 million under a scheme that rewarded them for cutting their power usage at peak times last winter. National Grid, the company responsible for keeping the nation's lights on, said the energy savings under the "demand flexibility service" were equivalent to the amount of electricity needed to supply about 10 million homes for an hour. - The Times

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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
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - 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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