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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: Gambling advertising, diesel prices, Revolut founder
(Sharecast News) - The UK should introduce a ban on almost all gambling advertising to protect public health, a cross-party group of peers has urged, prompting fury from the lobby group for bookmakers and casinos. In a 173-page report, the House of Lords liaison committee said the government had been "too passive" in response to an explosion of digital advertising and social media influencers promoting the gambling sector. - Guardian
Wednesday newspaper round-up: Global defence bank, KPMG, Frasers Group
(Sharecast News) - John Healey is in talks with the Canadian government about joining a new global defence bank intended to help allies rearm to counter mounting security threats, just weeks after Rachel Reeves rejected the move. The chancellor is understood to be actively considering a bid to join the proposed Canada-led defence, security and resilience bank (DSRB), which proponents say could help the UK fund defence projects at lower cost, before planned talks with his Canadian counterpart this week. - Guardian
Tuesday newspaper round-up: Red Sea islands, BoE bond selling, energy imports
(Sharecast News) - Yemen's Houthi militants have seized two strategic islands in the Red Sea, reinforcing the Iran-backed group's ability to control a key shipping route, as concerns mount that the world is facing a new oil supply crisis. The seizure of the islands of Greater and Lesser Hanish is the latest in the militant group's swift advance across Yemen's Red Sea coast, after the capture of the port of Mokha and Perim island in the Bab al-Mandab strait. - Guardian
Monday newspaper round-up: hospitality businesses, rail passengers, Battersea Power Station
(Sharecast News) - Hundreds of UK hospitality businesses, backed by celebrity chefs including Angela Hartnett and Heston Blumenthal, have asked Andy Burnham to lay out plans to lower VAT for the sector, urging him to make good on his previous pledge. More than 800 businesses have written an open letter to the prime minister as part of the #VATsTheProblem campaign, to warn that without a "fairer tax burden for hospitality", there will be more closures and job losses, and fewer opportunities for young people. - Guardian

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