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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: UK graduates, Andy Burnham, Micron Technology
(Sharecast News) - Great Britain's grid operator is expected to pay millions to fire up gas power plants to avoid a rare summer power supply crunch on Wednesday evening as extreme heat puts pressure on the energy system. The National Energy System Operator (Neso) is expected to pay about £10m on Wednesday to secure enough electricity to meet demand as households turn on air conditioners and electric fans, according to industry data. - Guardian
Wednesday newspaper round-up: WH Smith, card payments, BBC News
(Sharecast News) - Small suppliers including the charity Help for Heroes are to lose at least half the money owed to them by the former WH Smith high street chain if a planned restructure is voted through this week. The books to paperclips retailer, which has 450 stores, was bought by the private equity firm Modella Capital last year and rebranded TG Jones. It has said it is likely that it will have to call in administrators if creditors, including shop landlords, do not approve an amended restructuring plan, seen by the Guardian, designed to cut costs in a vote on Wednesday. - Guardian
Tuesday newspaper round-up: Rail passengers, Lime, BoE
(Sharecast News) - Rail passengers have been told to attempt to travel only if "absolutely essential" and check trains are running, with extreme heat expected to disrupt services around Britain. Temperatures are forecast to rise to 37C across most of southern England and Wales over the next three days, and potentially to 40C in the most affected areas. Intercity trains from London to Birmingham, Manchester and beyond are expected to be among the worst affected. - Guardian
Monday newspaper round-up: Tech companies, Pennon, David Lloyd gyms
(Sharecast News) - Leave-voting areas have seen faster relative growth in foreign workers since the Brexit referendum, a Guardian investigation has found. Data analysis suggests that the decade since the Brexit vote may not have matched the expectations of many Leave supporters, showing their local areas have also become relatively more deprived over the same period. - Guardian

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