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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: ONS, Saba Capital, Telegraph
(Sharecast News) - The government's statistics agency is spending £8m to hire an army of low-paid temporary workers amid efforts to fix its "virtually unusable" data on unemployment and wages in Britain. Under pressure over the quality of its data, the Office for National Statistics last month agreed the multimillion-pound deal with the employment agency Randstad to recruit interviewers to help increase the reliability of its labour force survey (LFS). - Guardian
Wednesday newspaper round-up: HMRC, CMA, Santander
(Sharecast News) - Parliament's spending watchdog has accused HM Revenue & Customs of deliberately running down its phone services to force people to go online after finding the average call waiting time has passed 23 minutes - almost double the figure of two years earlier. With people across the country working to finish their self-assessment return before the 31 January deadline, the public accounts committee (PAC) said it was "concerned that HMRC has degraded its own phone services" in the hope that taxpayers choose other ways to get in touch. - Guardian
Tuesday newspaper round-up: Trump, Santander, Heathrow
(Sharecast News) - Donald Trump signed a memorandum on inflation and multiple orders aimed at lowering energy prices, but the incoming president's advisers offered few details on the policies, raising serious questions about whether the new administration will be able to address one of Americans' most pressing concerns. During a press call on Monday morning, incoming White House advisers pledged that Trump would pursue an "all of government approach to bringing down costs for American citizens" but they declined to outline concrete steps that the administration would pursue to lower prices. - Guardian
Monday newspaper round-up: TikTok, London salaries, Airbus
(Sharecast News) - TikTok said on Sunday that it was restoring services in the US after Donald Trump pledged earlier in the day to give the video app a reprieve on its US ban. Trump wrote on Truth Social that after taking office on Monday he would sign an executive order allowing the Chinese-owned video app additional time to find a buyer before facing a total shutdown, and proposing that the US or an American firm take a 50% ownership stake. - 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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