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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: OpenAI, GSK, Sam Bankman-Fried
(Sharecast News) - OpenAI has filed confidentially to go public on the US stock market, according to a company blogpost published on Monday. The artificial intelligence giant's debut on Wall Street is expected to be one of the most highly valued listings in market history with a valuation at more than $850bn. "We recently submitted a confidential S-1. We expect it to leak so we're just announcing it," the company's post reads. "We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it's a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best." - Guardian
Monday newspaper round-up: Temporary workers, bogus insurance claims, Stonegate
(Sharecast News) - UK companies are increasingly hiring temporary workers instead of permanent staff because of low confidence in the economy and higher cost pressures, according to a report. Recruiters reported a strong increase in offers of temporary roles in May, according to new research from KPMG and the Recruitment and Employment Confederation (REC). - Guardian
Friday newspaper round-up: xAI, Goalhanger, Skipton, Trafigura
(Sharecast News) - New claimants have come forward to take legal action against Elon Musk's company xAI after the Labour MP Jess Asato launched a test case against the firm over demeaning sexualised material created by its Grok AI tool. A handful of complainants contacted Asato's lawyer on Thursday in response to coverage of the MP's decision to sue Musk's company for damages over its creation and circulation of fake images of her in a bikini and an AI-created video that she said showed her "being chloroformed and prepared for a sexual assault". - Guardian
Thursday newspaper round-up: Betfair, Revolut CEO, Charles Tyrwhitt
(Sharecast News) - The widow of a gambling addict who took his own life after falling £18,000 into debt begins a legal claim on Thursday against Betfair that could have far-reaching consequences for the UK's gambling industry. Luke Ashton, 40, from Leicester, died in April 2021 after suffering from a gambling disorder that led him to place thousands of bets with the company, which sent him promotional "free" bets. - 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.