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Tuesday newspaper round-up: Food prices, Aston Martin, WANdisco

(Sharecast News) - The UK's biggest retailers have reported the first monthly fall in shop prices for two years, as stores tried to tempt in customers with big discounts during July's unseasonably wet weather. The British Retail Consortium (BRC) said its annual shop price inflation rate, compiled with the help of NielsenIQ, had declined to its lowest level of the year, sliding to 7.6% last month from 8.4% in June. - Guardian The UK competition watchdog has said it will decide whether to clear or block Microsoft's $69bn (£54bn) takeover of the video game developer Activision Blizzard by 29 August, as it gave fresh hope for the transaction by opening a new consultation on it. The Competition and Markets Authority, which had originally said in April it would block the deal to take over the owner of hit titles such as Call of Duty, World of Warcraft and Candy Crush, is seeking public contributions on whether it should clear it after a new submission from Microsoft. - Guardian

Vladimir Putin's decision to block Ukrainian grain exports means British families will face higher food prices for longer than expected, the supermarkets trade body has warned. Inflation has been falling in recent months but prices on global food markets have shot up in the past fortnight as Russia rains missiles down on Ukrainian ports used to transport grain. - Telegraph

Aston Martin will tap investors for £210m in an effort to pay off its debt pile which is weighing on the luxury carmaker. Shareholders including Yew Tree, the investment vehicle owned by Aston Martin's chairman Lawrence Stroll and Saudi Arabia's Public Investment Fund have agreed to subscribe to around £115m of the share placing, with the remaining stock made available to institutional investors. - Telegraph

WANdisco has demanded that two former executives repay $832,000 in bonuses to reflect a fraud scandal that has shattered the company's value. The data software specialist has written to David Richards, its co-founder and former chief executive, and Erik Miller, the former finance director, to request the return of bonuses paid last year. - The Times

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(Sharecast News) - The UK government will "wait and see" whether tariffs announced by Donald Trump "actually come to pass", a senior minister said. The US president announced what he called "reciprocal tariffs" on all other countries on Thursday evening, claiming it was "fair to all". But it was unclear how this would apply to the UK, especially as Trump suggested his policy regarded VAT as a tariff. - Guardian
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(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
Wednesday newspaper round-up: British economy, Heathrow, FOS
(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - Guardian
Tuesday newspaper round-up: OpenAI, EVs, gas prices
(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - 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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