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Tuesday newspaper round-up: Electric cars, Manchester, Mountain Warehouse

(Sharecast News) - Campaigners have called on the chancellor to introduce a controversial pay-per-mile road charging scheme on electric cars, warning of a £5bn "black hole" in tax revenues from motoring. In a letter to Rachel Reeves, the Campaign for Better Transport (CBT) urged her to reform vehicle taxes, with fuel duty poised to dwindle in the coming decade as petrol and diesel cars are phased out. - Guardian Manchester has been named the "first-time buyer capital of Britain" after data revealed that those taking their first step on the property ladder accounted for 75% of home purchases made in the city with a mortgage last year. The research from the mortgage lender Halifax may also provide fresh evidence of how high house prices in London are forcing growing numbers of would-be capital dwellers to ditch that dream and look farther afield. - Guardian

London workers are returning to the office far more slowly than rivals in Paris and New York amid fears that UK productivity will suffer without rapid action. People in London spend an average of 2.7 days per week in the office, compared to 3.5 for Parisians and 3.1 for New Yorkers, according to the Centre for Cities think tank. Among firms with office directives in place, the average London employer mandates 3.1 days per week. This is behind top-performing Sydney's four days and behind Singapore, New York, Toronto and Paris. - Telegraph

It may have started life with one shop in Swindon, but Mountain Warehouse, the high street chain whose outdoor clothing is beloved of hikers and dog walkers, is poised to take on even more of the American market after the British millionaire behind the brand bought a collapsed US rival. Mark Neale, the chief executive, founder and owner of the British chain, has struck a deal to acquire Eastern Mountain Sports (EMS) for £7.6 million, saving 100 jobs. Neale said he had been tracking the company for a "long time. EMS is such an iconic, well-established brand. I think it's going to be a brilliant foothold for Mountain Warehouse in America. - The Times

The Qatari owners of Harrods have banked another £180 million dividend, despite a 17 per cent decline in operating profits at the world's most famous department store. The luxury retailer is owned by Harrods Ltd, a company in turn owned by the state of Qatar via its Qatar Investment Authority sovereign wealth fund. The multimillion-pound payout came after operating profit at Harrods' parent company fell by £35 million to £167.7 million in the year to February 3, according to accounts for Harrods Group (Holding) Ltd, which are due to be filed next week. - The Times

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Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - Guardian
Sunday newspaper round-up: Etihad float, Shein, Thames Water
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Friday newspaper round-up: Gambling sector, FOS, Amazon
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - 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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