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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: HBOS, energy deal, Shell, British Airways

(Sharecast News) - Victims of one of Britain's biggest banking frauds will each be offered £3m compensation packages, according to a source familiar with the proposed deal expected to be announced later this week. Halifax Bank of Scotland (HBOS) - which is now part of Lloyds Banking Group - was involved in a major fraud at its Reading branch in the early 2000s. - Guardian The UK government is close to striking a deal to keep a coal-fired power station in Nottinghamshire open longer than planned as ministers attempt to shore up Britain's energy supplies. UK officials are in negotiations with the French energy company EDF over plans to extend the operations of the West Burton A power station near Retford. - Guardian

Shell is pursuing a significant expansion of its business supplying electricity to UK households amid intense volatility in energy markets. The FTSE 100 company wants to supply clean power to five million households and electric car drivers by 2030, up from about 1.5m today, as part of plans to diversify away from oil and gas. - Telegraph

British Airways is facing a summer of strikes after ground and cabin staff backed industrial action in a dispute over pay. Unite, which represents 16,000 BA workers, won a 97pc majority in a ballot for potential industrial action after claiming the airline reneged on a pay deal. The union, the UK's second largest, is also balloting 500 check-in staff on strikes that could be staged in July when demand is expected to surge. - Telegraph

More than one in every five pounds paid so far by taxpayers to cover bank losses on failed pandemic loans relates to credit issued to suspected fraudsters. New figures show that by the end of March, the government had settled £351 million of claims on the state guarantee to lenders who issued credit under the emergency bounce back loan scheme, £72 million of which banks had marked as potentially fraudulent. - The Times

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Monday newspaper round-up: Renewable energy, BlackRock, Frasers Group
(Sharecast News) - A development company that sells off land no longer needed by Thames Water has paid out a £14m dividend despite warnings that it could become engulfed by the water group's financial woes. Accounts filed at Companies House show Kennet Properties paid out a £14.5m dividend in the year to 31 March 2023 despite the difficulties faced by the wider group, which is facing going into administration. - Guardian
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(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of Mitie to its readers, highlighting it shift from facilities management to facilities transformation.
Sunday newspaper round-up: IDS, Ocado, Foxtons
(Sharecast News) - Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian
Friday newspaper round-up: Thames Water, Netflix, consumer confidence
(Sharecast News) - "Misleading" and "inconsistent" labels make it hard for shoppers to know where their food comes from, the consumer champion Which? has said, as it found supermarket chains were selling products with "meaningless" statements on their packaging. Retailers must supply the "country of origin" for specific foods including fresh fruit and vegetables, unprocessed meats, fish, wine and olive oil but the rules do not generally apply to processed meat or frozen or processed fruit and vegetables. - 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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