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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.

Tuesday newspaper round-up: Banks, Woodford Fund, Abcam

(Sharecast News) - The UK's largest banks will be tested on their ability to withstand a rise in defaults linked to sky-high energy prices, as part of the Bank of England's delayed health check of the financial industry. The Guardian understands that Threadneedle Street has crafted a new crisis scenario that will feature a deep economic recession, punctuated by soaring energy bills that could make it harder for some borrowers - particularly businesses - to afford loan repayments. - Guardian The administrator of the failed fund run by the former star stock-picker Neil Woodford could be forced to pay investors up to £306m in compensation, the City regulator has said. The Financial Conduct Authority said on Monday it was ordering the fund's administrator, Link, to ringfence the sum as part of conditions related to Link's takeover by the Canadian cloud-based software company Dye & Durham. - Guardian

Electric car owners will save up to a third on charging their cars thanks to Liz Truss's energy support pledge. The cost of charging will be held back under the Prime Minister's plan to cap the cost of electricity units, saving drivers around a third compared to what had been expected from next month. - Telegraph

Abcam is to go ahead with a plan to scrap its London listing after investors backed a proposal by the biotechnology company to have its shares traded solely in New York. The decision by the Cambridge-based business is a blow to the British stock market as it wrestles with competition from foreign exchanges. Abcam has a market capitalisation of almost £3 billion, making it one of the biggest groups on Aim, London's junior market. It is also quoted on the Nasdaq in America. - The Times

The owners of Asda were dealt a blow yesterday after a leading credit rating agency warned about the highly-leveraged supermarket group's debts after its £600 million purchase of Co-operative Group's petrol forecourts. Fitch Ratings said it was cutting its outlook on the investment vehicle that owns Britain's third-biggest supermarket chain from "stable" to "negative". - 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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