Skip Header
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: Pensions gap, access to cash, energy industry

(Sharecast News) - Unions have called on the government to take urgent action to fix a "whopping pensions gap", as research showed women working in many industries have half the retirement savings of men. The TUC said Thursday was "gender pensions gap day", when female pensioners in Great Britain start getting paid after effectively going four and a half months without retirement income. - Guardian The City watchdog will be handed powers to ensure local communities across the UK have access to cash and could ultimately fine banks that fail to comply. Under the government's pending financial services bill, the Financial Conduct Authority will be in charge of making sure the UK's largest banking and building societies give consumers access to withdrawal and deposit facilities such as ATMs within a "reasonable" distance from their community. - Guardian

Brussels has told European Union countries that they should consider telling drivers to cut their motorway speed in the battle to ditch Russian fossil fuel. The European Commission says saving energy is the "quickest way" to tackle the energy crisis.It has published a list of changes in behaviour which it argues could cut oil and gas demand by 5pc. - Telegraph

The energy industry believes it will soon fall victim to cyberattacks so severe that they will result in deaths as well as damage to critical infrastructure and the environment, a report has found. Such an attack is expected within the next two years, according to a survey of global energy executives for DNV, a risk management group. - The Times

The professional body for chartered accountants is facing questions from parliament over why it has pocketed tens of millions of pounds in fine money for auditor misconduct rather than hand over any of it to victims. Darren Jones, chairman of the Commons' business, energy and industrial strategy committee, is writing to the Institute of Chartered Accountants in England and Wales for an explanation, as it emerged that the professional body has scooped £123.4 million in fines since 2004, according to its own figures. - The Times

Share this article

Related Sharecast Articles

Tuesday newspaper round-up: Red Sea islands, BoE bond selling, energy imports
(Sharecast News) - Yemen's Houthi militants have seized two strategic islands in the Red Sea, reinforcing the Iran-backed group's ability to control a key shipping route, as concerns mount that the world is facing a new oil supply crisis. The seizure of the islands of Greater and Lesser Hanish is the latest in the militant group's swift advance across Yemen's Red Sea coast, after the capture of the port of Mokha and Perim island in the Bab al-Mandab strait. - Guardian
Monday newspaper round-up: hospitality businesses, rail passengers, Battersea Power Station
(Sharecast News) - Hundreds of UK hospitality businesses, backed by celebrity chefs including Angela Hartnett and Heston Blumenthal, have asked Andy Burnham to lay out plans to lower VAT for the sector, urging him to make good on his previous pledge. More than 800 businesses have written an open letter to the prime minister as part of the #VATsTheProblem campaign, to warn that without a "fairer tax burden for hospitality", there will be more closures and job losses, and fewer opportunities for young people. - Guardian
Friday newspaper round-up: Energy bills, triple lock, ONS data crisis
(Sharecast News) - Consumers will pay higher energy bills unless the UK government speeds up work on a vast programme of upgrades to the electricity grid to enable the switch to renewables, the public spending watchdog has warned. The National Audit Office (NAO) said that without faster action the extra costs associated with managing the ageing power network, which are ultimately passed on to the public, could reach £7.8bn a year by 2030. - Guardian
Thursday newspaper round-up: Migration, air traffic control, triple lock
(Sharecast News) - Andy Burnham must overhaul Shabana Mahmood's migration reforms or risk overstretching social care and fuelling far-right sentiment, the TUC general secretary, Paul Nowak, has warned. Speaking ahead of the TUC's annual congress in Brighton next week, Nowak welcomed the "sense of optimism" around Burnham's fledgling government, but he urged the PM to act in a series of areas, including migration and the cost of living. - 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.