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: Petrol prices, Abramovich, Arm jobs

(Sharecast News) - Petrol could soar to £2.50 a litre, while diesel could hit £3 and may even be rationed, experts told MPs on Monday, as they warned that Russia's invasion of Ukraine spells worsening pain for consumers. In testimony to the Treasury select committee, leading economics and energy analysts also called on the chancellor, Rishi Sunak, to subsidise lower-income households to cope with soaring home energy bills, amid a broader cost of living crisis. - Guardian Roman Abramovich, the billionaire owner of Chelsea FC who was subjected to sanctions by the UK government last week, has been spotted at a VIP lounge at an airport in Israel. One of seven Russians who had their assets frozen last Thursday in an attempt to ratchet up the pressure on Vladimir Putin after the invasion of Ukraine, Abramovich was seen in Tel Aviv's Ben Gurion airport on Monday shortly before a jet linked to him took off for Istanbul. - Guardian

Arm, one of Britain's biggest technology companies, is cutting hundreds of staff weeks after a $40bn (£31bn) deal to sell the company to Nvidia fell apart. Rene Haas, Arm's newly-installed chief executive, told staff on Monday that the redundancies would affect 12 to 15pc of its global workforce. The Cambridge-based business has 4,400 staff and around 1,747 in the UK, meaning the cuts could affect more than 600 employees. - Telegraph

Fears are growing that lockdowns to tackle a sharp rise coronavirus cases in China will disrupt shipping from one of the world's biggest ports and cause shortages to ripple through global supply chains. Chinese markets tumbled today as authorities imposed a one-week lockdown imposed a one-week lockdown on Shenzhen, a city of 17.5 million people in the southeast of the country, to tackle rising infection rates. - The Times

The number of reports to the City regulator of alleged cryptocurrency scams more than doubled last year. The Financial Conduct Authority received 6,372 alerts about suspected crypto frauds last year, up from 3,143 the year before, according to a response to a Freedom of Information request. - The Times

Share this article

Related Sharecast Articles

Wednesday newspaper round-up: Harland & Wolff, Octopus Energy, Microsoft
(Sharecast News) - Local councils will have to adopt mandatory housing targets within months under planning reforms to be unveiled on Wednesday as part of Keir Starmer's first king's speech, which the prime minister says will be focused on economic growth. Starmer will introduce a package of more than 35 bills on Wednesday, the first Labour prime minister to do so in 15 years, as he looks to put the economy at the centre of his first year in office. - Guardian
Tuesday newspaper round-up: Elon Musk, Julian Dunkerton, SSE/TotalEnergies
(Sharecast News) - Elon Musk has said he plans to give $45m a month to a Super Pac focused on electing Donald Trump, starting in July, the Wall Street Journal has reported. The tech billionaire, who endorsed Trump two days ago, has already donated what was described as "a sizable amount" to the America Pac, though the actual amount of the donation will not be made public in election filings until 15 July, Bloomberg reported. - Guardian
Monday newspaper round-up: Lloyds Banking, Sky News, Hotel Chocolat
(Sharecast News) - A solar energy project developer linked to Thames Water is to be liquidated and its staff made redundant as the crisis engulfing the debt-laden water supplier puts strain on its complex corporate structure. Trinzic Operations Ltd, which is ultimately owned by Thames's parent company Kemble Water Holdings, is to be voluntarily shut down, the Guardian can reveal. - Guardian
Monday newspaper round-up: Lloyds Banking, Sky News, Hotel Chocolat
(Sharecast News) - A solar energy project developer linked to Thames Water is to be liquidated and its staff made redundant as the crisis engulfing the debt-laden water supplier puts strain on its complex corporate structure. Trinzic Operations Ltd, which is ultimately owned by Thames's parent company Kemble Water Holdings, is to be voluntarily shut down, the Guardian can reveal. - 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.