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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: Public services, house prices, Rio Tinto

(Sharecast News) - Rishi Sunak's government has been warned that Britain's creaking public services will require at least £43bn a year in additional funding just to "stand still" amid the fallout from soaring inflation. The Trades Union Congress said next week's autumn statement needed to protect both public services and workers' pay from the highest rates of inflation since the early 1980s to avoid a further collapse in the quality of support for health, social care, education, justice, and the environment. - Guardian

House prices stalled last month after more than two years of growth as a sharp rise in mortgage rates fuelled caution among buyers, according to Britain's official surveyors body. The Royal Institution of Chartered Surveyors (Rics) also predicted that rents will be 4% higher in a year's time due to an imbalance between strong tenant demand and the supply of homes to let. - Guardian

British households could be paid to help prevent blackouts in France this winter, under plans drawn up by National Grid. The company in charge of keeping Britain's lights on is prepared to ask households to cut their energy usage so that more power can be exported to the continent to avert blackouts there. - Telegraph

A shareholder vote on Rio Tinto's $3.3 billion takeover of Turquoise Hill Resources has been suspended indefinitely amid concerns over arrangements that could lead to some investors being paid a higher price than others. The FTSE 100 miner is seeking to buy the 49 per cent of the Canadian-listed Turquoise Hill that it does not already own, giving it control of the Oyu Tolgoi copper mine in Mongolia, in which Turquoise Hill owns a 66 per cent stake. - The Times

A biopharmaceuticals business that develops drugs licensed by a British medical charity is to list in the United States via a so-called Spac or blank-cheque deal. The privately owned Conduit Pharmaceuticals plans to merge with Murphy Canyon Acquisition Corp, a Nasdaq-listed special purpose acquisition company, with a market valuation of $850 million, including cash of about $150 million. - 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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