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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: Gazprom, JCB, taxes, HSBC

(Sharecast News) - The daily gas production of Russia's Gazprom dropped in July to its lowest level since 2008, figures suggest, amid continued fears that Moscow could cause an energy crisis in Europe by shutting off the supply. The state-owned energy firm pumped 774 million cubic metres a day last month - 14% less than in June - according to analysis by Bloomberg of data released on Monday. - Guardian The heir to the digger company JCB has failed in an attempt to take control of a business run by his former best friend after a bitter US courtroom battle that included lurid allegations about personal conduct - and even revealed an apparent attempt to buy Michael Jackson's Neverland ranch. Jo Bamford, a grandson of the JCB founder, sued Joseph Manheim last year in Delaware, claiming that his former friend had "surreptitiously" taken control of a company they set up to help wealthy, mainly Chinese, investors get residence in the US. Bamford, 44, a self-styled "green entrepreneur", claimed Manheim secretly siphoned millions of dollars from the business and Bamford sought damages of $13.8m (£11.3m). - Guardian

The tax burden will remain at its highest level for 70 years if Rishi Sunak becomes Prime Minister despite his pledge to slash 4p off the basic rate of income tax, Britain's top fiscal think tank has said. Tax would still account for the largest proportion of national income since the early 1950s if the ex-Chancellor pulls off his promised tax cut in the next Parliament, the Institute for Fiscal Studies said. - Telegraph

Energy companies are attempting to overcome planning restrictions on onshore wind farms with an upgrade programme that could make hundreds of existing turbines taller. Octopus Energy has set its sights on up to 1,000 turbines which it hopes to reconfigure or replace, providing electricity for up to half a million more homes than they currently supply. In many cases the refit would involve installing bigger blades or adding as much as 20 metres to existing turbines' height. - Telegraph

The boss of HSBC has warned that breaking up the bank would destroy value for investors as the lender set out its defence against a push by its largest shareholder to split the group in two. Noel Quinn used the company's half-year results yesterday to mount a rebuttal of a proposal from Ping An for the bank to spin off its Asian business into a separate company listed in Hong Kong. He said the FTSE 100 group had examined a number of options for the way it is structured but believed that "international connectivity is core to our entire value proposition". - 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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