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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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Monday newspaper round-up: Renewable energy, BlackRock, Frasers Group
(Sharecast News) - A development company that sells off land no longer needed by Thames Water has paid out a £14m dividend despite warnings that it could become engulfed by the water group's financial woes. Accounts filed at Companies House show Kennet Properties paid out a £14.5m dividend in the year to 31 March 2023 despite the difficulties faced by the wider group, which is facing going into administration. - Guardian
Sunday share tips: Mitie, Costain
(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of Mitie to its readers, highlighting it shift from facilities management to facilities transformation.
Sunday newspaper round-up: IDS, Ocado, Foxtons
(Sharecast News) - Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian
Friday newspaper round-up: Thames Water, Netflix, consumer confidence
(Sharecast News) - "Misleading" and "inconsistent" labels make it hard for shoppers to know where their food comes from, the consumer champion Which? has said, as it found supermarket chains were selling products with "meaningless" statements on their packaging. Retailers must supply the "country of origin" for specific foods including fresh fruit and vegetables, unprocessed meats, fish, wine and olive oil but the rules do not generally apply to processed meat or frozen or processed fruit and vegetables. - 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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