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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: Food crisis, Universal Music, Samsung
(Sharecast News) - Britain is "sleepwalking into a food crisis" caused by extreme weather, inflation and the impacts of the Iran war - and the government is failing to take the threat seriously, food experts have said. Farmers are facing severe strain from the current heatwave following a dry spring, with many crops likely to yield less as temperatures rise beyond their tolerance. Livestock are also suffering heat stress and there is a rising risk of wildfires. Economic losses are likely to be measured in the hundreds of millions of pounds. - Guardian
Wednesday newspaper round-up: Energy price cap, Post Office Horizon, Radley
(Sharecast News) - Households will face the steepest summer rise in energy charges in four years after months of soaring market prices caused the government's energy price cap for Great Britain to climb by 13%. Under the cap the average gas and electricity bill will increase to the equivalent of £1,862 a year from July until the end of September to take account of the rise in global energy market prices caused by the war on Iran. - Guardian
Tuesday newspaper round-up: Meta, British businesses, Eurowag
(Sharecast News) - Rachel Reeves has instructed cabinet colleagues to award government contracts in four critical industries directly to British companies, making clear her irritation that ministers have been sending too much government business abroad. In a letter seen by the Guardian, the chancellor tells every cabinet minister in charge of a spending department to "buy British" wherever possible, adding that she is disappointed they are not already doing so. - Guardian
Friday newspaper round-up: Cancelled govt projects, oil and gas tax raid, recession risk
(Sharecast News) - Cancelled government projects such as the Rwanda deportation scheme and the road tunnel under Stonehenge are wasting billions of pounds of taxpayer money a year, parliament's spending watchdog has found. About £6.6bn was written off by government departments last year alone - state spending that did not achieve its intended objectives or create any value for the taxpayer, the public accounts committee said. - 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.