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Tuesday newspaper round-up: Energy bills, Twitter, GSK

(Sharecast News) - The chief executive of National Grid has warned of an "exponential increase" in customers seeking help with their energy bills as the company created a £50m emergency support fund. John Pettigrew said the UK electricity network operator's fund will be used this winter and next to make donations to bodies providing support for vulnerable households and advice on energy efficiency measures to lower bills long term. - Guardian Elon Musk has appointed himself CEO of Twitter and dissolved its board of directors, it was revealed in a company filing on Monday, as Twitter employees brace for extensive layoffs under a new restructuring that could target up to a quarter of staff. The Washington Post reported on Monday that Musk's team has been discussing letting go of 25% of the company's workforce in a first round of layoffs. - Guardian

Rishi Sunak is drawing up plans for years of tax rises for everyone in the country, as a Treasury source warned: "It's going to be rough." On Monday, the Prime Minister and the Chancellor decided to bring in "stealth" increases in income tax and National Insurance over the coming years by freezing the thresholds at which people start to pay different rates. - Telegraph

More than 50 company directors who have been disqualified have faced no disciplinary action from the Financial Conduct Authority and seven remain approved by the regulator, a Times investigation has found. The findings underscore the failings of the watchdog's register, which keeps track of firms and individuals approved for regulated activities. The Times has uncovered at least 55 directors who were banned for offences ranging from pension fraud to tax evasion, while carrying out a role regulated by the authority. - The Times

About £40 million is likely to be set aside by GSK for legal costs relating to the Zantac litigation that has overshadowed the demerger of Haleon, its consumer healthcare wing, and has taken billions of pounds off the two companies' market values. The drugs group is expected to make a provision when it announces third-quarter figures tomorrow, covering its likely maximum defence costs in any legal action over the heartburn drug. GSK is being represented by Dechert, the law firm. - The Times

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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
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - 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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