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Thursday newspaper round-up: Offshore windfarms, hydrogen heating trial, Amazon

(Sharecast News) - The Cyprus police force is investigating how an oligarch attempted to transfer a £1bn stake in a public company on the day he was placed under EU sanctions, government insiders have told the Guardian. News of the involvement of the financial crime squad came as the Cypriot government and the European Union responded to revelations that local service providers appear to have played a key role in enabling Russian oligarchs to shield assets from EU sanctions within days of Moscow's full-scale invasion of Ukraine. - Guardian The government will offer significantly higher subsidies for new offshore windfarms after crisis talks with developers that are battling cost inflation across global energy supply chains. Ministers have agreed to raise the starting price of the government's next auction for offshore wind subsidies by around two-thirds to £73 per megawatt hour to help more offshore windfarm projects to move ahead despite higher costs. - Guardian

The Energy Secretary is poised to approve a landmark hydrogen heating trial in a north Yorkshire town despite growing local protests. It is understood Claire Coutinho is "minded to approve" the scheme in Redcar, with an announcement expected in weeks. Government support for the project will pave the way for Northern Gas Networks (NGN) to start supplying up to 2,000 homes with hydrogen instead of gas for heating and cooking, in the first trial of its size. - Telegraph

The owner of Boots is understood to be close to striking a deal for Legal & General to take over more responsibility for its £5 billion legacy staff pension scheme in a transaction that could help revive plans to sell the health and beauty chain. The US group Walgreens Boots Alliance has been negotiating a so-called pension risk transfer deal with L&G for some time, taking advantage of rising bond yields that have propelled the traditional defined benefit scheme into surplus. - The Times

Amazon is refusing to promote employees who do not follow its policy of returning to the office for at least three days a week. "Promotions are one of the many ways we support employees' growth and development, and there are a variety of factors we consider when determining an employee's readiness for the next level, an Amazon spokesman said. - The Times

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Sunday newspaper round-up: Middle East, Aston Martin, Defence
(Sharecast News) - Britons must accept that their country was now involved in the Middle East conflict, Tobias Ellwood said. The former defence minister warned that "nobody was in full control" of the growing conflict as more and more countries were sucked in. Ellwood also said that Tehran's strike had taken the conflict into a "new dangerous territory". - Sunday Telegraph
Friday newspaper round-up: Everton, AstraZeneca, Amazon
(Sharecast News) - Everton has paid about £30m in interest charges to an opaque lender associated with a tax exile, corporate records suggest. The charges appear to have reached about £438,000 a week, according to the troubled Premier League club's most recent set of accounts, a figure more than three times the reported wages of the Everton and England goalkeeper Jordan Pickford. - Guardian
Thursday newspaper round-up: Border controls, McKinsey, KPMG
(Sharecast News) - New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson's Brexit deal could add 10% to import costs over the first year. - Guardian
Wednesday newspaper round-up: Shoplifting, EnQuest, Klarna
(Sharecast News) - The government is investing more than £55m in expanding facial recognition systems - including vans that will scan crowded high streets - as part of a renewed crackdown on shoplifting. The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being forced to wear a tag to ensure they do not revisit the scene of their crime, under a new standalone criminal offence of assaulting a retail worker. - 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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