Skip Header
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: EU suppliers, National Grid, discounters

(Sharecast News) - A publicly owned electricity generation firm could save Britons nearly £21bn a year, according to new analysis that bolsters Labour's case to launch a national energy company if the party gains power. Thinktank Common Wealth has calculated that the cost of generating electricity to power homes and businesses could be reduced by £20.8bn or £252 per household a year under state ownership, according to a report seen by the Guardian. - Guardian Business leaders say frayed relations with the EU are costing the British economy, as suppliers in the bloc grow more cautious about doing business with post-Brexit Britain. Adding to the pressure on Rishi Sunak's government as bosses warn that the UK is falling behind its peers, the manufacturers' group Make UK called for an urgent reset of political and trading relationships with the EU. - Guardian

National Grid has told an emergency coal power station to start warming up as the country braces for a cold snap on Tuesday. The West Burton A plant near Retford in Nottinghamshire will be placed on standby to meet demand if energy use surges as temperatures drop. The plant is one of three that were due to close in September 2022 but have been kept online in case needed amid concern about energy security this winter. They have been warmed up several times so far this winter, but not yet used. - Telegraph

The government's plan to overhaul the rules for the insurance industry could increase the annual probability of a life company failing by about 20 per cent, the governor of the Bank of England has warned. The Bank's estimate of the higher risk, which was disclosed by Andrew Bailey in a letter to MPs on the Commons treasury select committee, could reignite tensions between the Bank and the government over ministers' plans to loosen the regulations governing insurers. They have already clashed about the reforms. - The Times

Consumers increasingly turned to discount retailers last month as their spending on utility bills soared. Household spending in discount stores grew by 5.5 per cent in February as shoppers sought cheaper goods, according to Barclaycard data. The growth in spending in value outlets has picked up from 4.2 per cent in January. - The Times

Share this article

Related Sharecast Articles

Sunday share tips: PPHE, Keystone Law
(Sharecast News) - The Financial Mail on Sunday's Midas column labelled shares of PPHE an "attractive long-term buy" citing their valuation.
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

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.