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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: Pharma companies, Puig, Thames Water

(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian Pharmaceuticals companies were told to make fewer drugs for the sake of the environment, in new draft guidelines for businesses in the Government's latest net zero drive. The suggestion was among a vast array of proposals which Britain's biggest businesses have been told to consider as they are ordered to publish lengthy reports every year to show how they plan to meet their net zero targets. - Telegraph

Russia has reportedly asked Kazakhstan to supply it with petrol as Ukrainian attacks on its refineries force it to import gasoline. Kazakhstan has been asked to set up a reserve of 100,000 tonnes of gasoline, equivalent to 845,000 barrels, to supply Russia should shortages arise, Reuters reported. It is unclear if a deal has been reached. The Kremlin has also been seeking supplies from Belarus. - Telegraph

The Spanish family-owned cosmetics group Puig, which owns brands such as Charlotte Tilbury, Paco Rabanne and Carolina Herrera, is preparing an initial public offering, the biggest stock market listing in the beauty sector in years. The Barcelona-based company announced the move to go public on Monday with plans to sell €1.25 billion (£1.07 billion) of new shares and an even larger amount of existing stock through the IPO, taking the total sum raised to more than €2.5 billion. - The Times

The Australian financial group Macquarie is one of the consortium of lenders to Thames Water's parent company Kemble Water Finance, The Times can reveal. Last week it emerged that the lenders, which also include two Chinese state-owned banks, the Dutch bank ING and Allied Irish Bank, could determine the fate of the troubled utility. - The Times

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Monday newspaper round-up: Border checks, house prices, apprenticeships
(Sharecast News) - Post-Brexit border checks will cost UK businesses £470m a year, the government's public spending watchdog has said. Plans to bring in border checks on goods coming from the EU faced "significant issues" including critical shortages of inspectors before their introduction last month, the National Audit Office said in a report. - Guardian
Friday newspaper round-up: Bank branches, mortgages, Northern Rock
(Sharecast News) - The number of UK bank branches that have shut their doors for good over the last nine years will pass 6,000 on Friday, and by the end of the year the pace of closures may leave 33 parliamentary constituencies - including two in London - without a single branch. The tally is being published by the consumer group Which? as it seeks to make the "avalanche" of closures and the "disastrous" impact they can have on local communities an election battleground. - Guardian
Thursday newspaper round-up: JCB, M&S, smart meters
(Sharecast News) - The British digger maker JCB, owned by the billionaire Bamford family, continued to build and supply equipment for the Russian market months after saying it had stopped exports because of Vladimir Putin's invasion of Ukraine, the Guardian can reveal. Russian customs records show that JCB, whose owners are major donors to the Conservative party, continued to make new products available for Russian dealers well after 2 March 2022, when the company publicly stated that it had "voluntarily paused exports" to Russia. - Guardian
Wednesday newspaper round-up: Brexit border outages, Boeing, Stellantis
(Sharecast News) - Lorries carrying perishable food and plants from the EU are being held for up to 20 hours at the UK's busiest Brexit border post as failures with the government's IT systems delay imports entering Britain. Businesses have described the government's new border control checks as a "disaster" after IT outages led to lorries carrying meat, cheese and cut flowers being held for long periods, reducing the shelf life of their goods and prompting retailers to reject some orders. - 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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