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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: Microsoft, energy price cap, benefits

(Sharecast News) - Microsoft has filed an appeal against the UK competition watchdog's decision to block its $69bn (£56bn) acquisition of the Call of Duty creator Activision Blizzard. The US tech company confirmed that it had formally lodged an appeal against the Competition and Markets Authority (CMA) verdict against the deal last month. Its case will be argued before the Competition Appeal Tribunal (CAT). - Guardian The founder of Monzo has quit London in favour of San Francisco as he said the US was "much more accepting" of tech companies than Britain. Tom Blomfield, who co-founded the banking app in 2015 and left the company in 2021, said Britain was "not always favourable to ambitious founders who want to do something unusual". - Telegraph

Nearly 4 million people are being paid jobless benefits without ever having to look for work following a surge in claims of mental health and joint pain during lockdown. Around 3.7 million of the 5.2 million people currently claiming out of work benefits have been granted an exemption from finding a job, meaning that taxpayers face bankrolling their benefits indefinitely. - Telegraph

Energy bills will fall by 17 per cent to an average of £2,074 a year for a typical household from July, Ofgem has announced. Households have been paying record high prices since October - equivalent to £2,500 a year based on typical usage - under the government's energy price guarantee. - The Times

A lawsuit against the former boss of Barclays alleging that he hid what he knew about Jeffrey Epstein while working at a US bank has been allowed to proceed by a New York judge. Jes Staley, 66, faces a claim that could run to tens of millions of dollars from JP Morgan, the US bank where he filled senior roles between 1999 and 2013, before joining Barclays in 2015. - The Times

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Thursday newspaper round-up: Retailers, Tesla, Rachel Reeves
(Sharecast News) - UK retailers are planning to cut staff hours and jobs amid rising employment costs and pessimism about the economy. Almost two-thirds (61%) of finance bosses at retail companies said they planned to reduce working hours or cut overtime, according to the latest survey from the British Retail Consortium (BRC), the trade body that represents most big retailers. More than half (55%) said they would cut head office jobs and 42% said they would reduce jobs in stores. - Guardian
Wednesday newspaper round-up: British Steel, Japan/US, net zero
(Sharecast News) - British Steel has secured an order worth tens of millions of pounds to supply rail for a high-speed electric railway in Turkey, amid continuing uncertainty over the long-term future of the government-controlled steelworks in Scunthorpe. The site will supply 36,000 tonnes of rail to ERG International Group, the company announced, in what it called an "eight-figure agreement". - Guardian
Tuesday newspaper round-up: Vista/Mastercard alternative, KPMG, Boots/Morrisons
(Sharecast News) - UK bank bosses will hold their first meeting to establish a national alternative to Visa and Mastercard, amid growing fears over Donald Trump's ability to turn off US-owned payment systems. The meeting, chaired by Barclays' UK chief executive, Vim Maru, will take place this Thursday and bring together a group of City funders that will front the costs of a new payments company to keep the UK economy running if problems were to occur. - Guardian
Monday newspaper round-up: Interest rates, Morrisons, Octopus Investments
(Sharecast News) - The Trades Union Congress is urging the Bank of England to cut interest rates and rekindle economic growth, pointing to analysis showing that cash-strapped consumers are lagging their international peers. The Bank's monetary policy committee voted 5-4 to leave borrowing costs unchanged this month, after six cuts since mid-2024. - 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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