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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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Tuesday newspaper round-up: City & Guilds, water companies, home ownership
(Sharecast News) - The new owners of the vocational training body City & Guilds appear to have more than tripled the pay of its top six executives right at the moment the company is cutting £22m of costs and shrinking its UK workforce. The large increases to salary and bonuses have emerged during a scandal over the sale of the qualification awards business by its former owner, the UK charity City & Guilds London Institute (CGLI), to the international certification company PeopleCert. - Guardian
Monday newspaper round-up: Scottish Power, South East Water, Elon Musk
(Sharecast News) - Scottish Power has been ranked Britain's worst energy supplier for customer service in a survey from a leading consumer body that placed many of the UK's biggest suppliers at the bottom of the league table. British Gas and EDF Energy were just above Scottish Power at the foot of the annual Which? rankings. These are based on a satisfaction survey of almost 12,000 energy customers and a Which? assessment of each supplier's customer service. - Guardian
Friday newspaper round-up: Asda, Starlink, weight-loss drugs
(Sharecast News) - Leading members of Donald Trump's campaign to overturn the 2020 presidential election are seeking a huge European pipeline contract, the latest figures from the US president's circle to mix business and geopolitics. Jesse Binnall, a lawyer who worked on legal actions advancing Trump's baseless claim that the vote was stolen from him, and Joe Flynn, who also sought to undermine Joe Biden's victory, have been in Bosnia this week to discuss the project. - Guardian
Thursday newspaper round-up: South East Water, Asda, The Arts Club
(Sharecast News) - South East Water could lose its operating licence after residents across Kent and Sussex faced up to a week without water. The environment secretary, Emma Reynolds, has called for the regulator to review the company's operating licence. If it were to lose it, the company would fall into a special administration regime until a new buyer was found. If the regulator, Ofwat, decides the company has breached its licence but decides not to revoke it, penalties include a fine of 10% of the company's annual turnover. Ofwat in 2024 decided Thames Water was in breach of its licence but decided to avoid forcing it into special measures and instead insisted on a turnaround plan. - 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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