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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: Index of corruption, net zero, small businesses
(Sharecast News) - It would take 137 years for lower-income families in the UK to see their living standards double at the current rate of growth, according to a thinktank. A two-decade stagnation in disposable incomes has created a "mood of unease" across the country, the Resolution Foundation says, warning of the risk of "further political disruption" unless pay growth accelerates. In the 40 years to 2005, the typical disposable income of working-age families in the poorest half of the population doubled, after growing by 1.8% a year on average once adjusted for inflation, according to the thinktank. In the final decade of that period, growth in disposable incomes rose by 4% a year and looked on course to double within 18 years. - Guardian
Monday newspaper round-up: Train drivers, bank chairs, Ocado, cash ISAs
(Sharecast News) - Labour will introduce legislation to lower the minimum age for train drivers to 18 in the House of Commons this week, as figures show fewer than 3% of drivers on Great Britain's railways are under 30. The government is pressing ahead with its proposals for teenage recruits, lowering the minimum age from 20, in a move that ministers hope will stave off a potential shortage of thousands of drivers. - Guardian
Friday newspaper round-up: Amazon, Barclays, Epstein
(Sharecast News) - Amazon announced plans to spend $200bn on artificial intelligence and robotics this year, the latest tech giant to vow fresh enormous investments in the artificial intelligence arms race. The news of the investment comes one day after the Washington Post, owned by Amazon founder Jeff Bezos, announced it was cutting approximately a third of employees. - Guardian
Thursday newspaper round-up: Bond markets, Nike, ElevenLabs
(Sharecast News) - A government minister has defended long delays to a military spending plan that are also stalling the UK's next-generation Tempest fighter jet programme, but refused to say when it will be complete. The defence investment plan (DIP), originally expected last autumn, has faced repeated postponements amid warnings that the military faces a £28bn funding gap over the next four years. - 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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