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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: Net zero, Royal Mail, Home REIT

(Sharecast News) - Business leaders in the north of England have written to the prime minister, chancellor and energy secretary asking for help to reach net zero. Big names including Drax, Siemens, Peel, Manchester airport, the CBI and all 11 local enterprise partnerships (LEPs) in the north signed a letter urging the government to prioritise green growth in the north - Guardian The billionaire head of Canada's largest grocery chain has been given a C$1.2m (US$890,000) raise, in a move likely to prompt controversy as grocery executives have faced sharp criticism for raising their prices amid record inflation. The raise for Galen Weston, chairman and president of grocer Loblaw Companies, brought his total pay last year to C$11.79m. Details of the deal were first reported by the Globe and Mail. - Guardian

Royal Mail bosses have accused striking workers of plotting to bankrupt the company and force it back into the hands of the taxpayer, amid a deepening row after talks collapsed. Directors criticised union leaders for saying they were "'becoming more comfortable' with the risk of administration" during discussions to agree a new pay deal, according to a letter leaked to the Telegraph. - Telegraph

Home Reit, which has spent the past two-and-a-half years frantically buying hundreds of properties to let out to homelessness charities, is thinking of selling some. Such a move, it said, would help to stabilise the business, which was plunged into crisis late last year when the short-seller Viceroy Research flagged concerns, including doubts over the reliability of some tenants. - The Times

The City regulator has warned the financial firms that fund it that its annual budget will rise to more than £680 million, pushed higher in part by the extra cost of a post-Brexit revamp of its responsibilities. The Financial Conduct Authority disclosed yesterday that its so-called annual funding requirement for 2023-4 is forecast to increase by 8.5 per cent to £684.2 million. - The Times

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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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