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Thursday newspaper round-up: Ofgem, pensions, Bulb, Purplebricks

(Sharecast News) - The energy regulator Ofgem has said its price cap will reach £4,279 from January - but households will be shielded by the government's emergency intervention to keep a lid on bills. Ofgem said the cap, which is adjusted every quarter, will increase by £730 for the three months from the start of next year. However, the government's energy price guarantee (EPG) will limit typical household bills to £2,500. Analysts had expected the cap to sit at about £4,200. - Guardian Pensions experts have told MPs they were "absolutely shocked" at the level of "hidden" borrowing across UK pensions schemes, which nearly toppled some funds during the bond market crisis in September and forced cash-strapped trustees to sell up to £500bn in assets. Speaking to politicians on the work and pensions committee on Wednesday, academics and pensions experts laid bare the risks that certain kinds of liability-driven investing, or LDI, posed for retirement savings. - Guardian

Rishi Sunak has abandoned plans to give ministers the power to overrule City regulators in a major climbdown by the Prime Minister. Andrew Griffith, the City minister, said the Government has decided not to proceed with a so-called "call-in" power in a move that will be seen as Mr Sunak bowing to pressure from the Bank of England and the Financial Conduct Authority (FCA). - Telegraph

The government has been criticised by MPs over the "secrecy" attached to the cost of bailing out Bulb. The Treasury select committee yesterday told Jeremy Hunt, the chancellor, to provide details on why running the failed energy supplier is expected to add more than £200 to energy bills for every UK household. - The Times

Shareholders in Purplebricks will vote on whether to oust the hybrid estate agent's long-term chairman in the week before Christmas after an activist investor forced a general meeting. Lecram Holdings, which has built a 5.2 per cent stake in Purplebricks this year, has been agitating for the removal of Paul Pindar since the summer. - 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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