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Tuesday newspaper round-up: Tax cuts, CBI, iPhones

(Sharecast News) - Jeremy Hunt has warned that the high pace of inflation in Britain will prevent pre-election tax cuts this autumn amid signals from the Bank of England that another rate rise to ease cost of living pressures is coming next week. Speaking in India, the chancellor said he would be wary of putting money into the pockets of consumers in his November package because of the danger that it would overstimulate the economy and make it more difficult for Threadneedle Street to bring inflation down. - Guardian Resale of event tickets for profit should be outlawed, the managers of artists have said, as they called on ministers to reconsider a crackdown on touts and "rip-offs" on websites such as Viagogo and StubHub. Music industry figures, including those who work with Radiohead and Ed Sheeran, threw their weight behind proposals to curb "secondary ticketing" websites, which allow fans to resell seats they are unable to use but that are increasingly dominated by professional touts charging high prices at a huge mark-up. - Guardian

After a summer of blood letting and soul searching, the Confederation of British Industry (CBI) is hoping to emerge from its time in the wilderness. The organisation, which was until earlier this year Britain's premier corporate lobbying group, is planning to relaunch its flagship November event with what insiders have described as a "conference-lite" in London. - Telegraph

Buyers of the latest iPhones face having to pay £20 extra to charge the devices as Apple caves to EU rules. Apple is widely expected to change the charging port and cables on its phones for the first time in 11 years due to a European Union law requiring all phones to use the USB-C standard. - Telegraph

Thousands of high-value manufacturing jobs are at risk because Britain's largest train assembly plant is due to run out of work by the end of the year after delays in the contract to build high-speed rolling stock for HS2. Ministers are being warned that if the factory, with a workforce of 2,000, is mothballed, 1,400 UK supply chain companies employing as many as 17,000 people also will be affected. - The Times

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Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - Guardian
Wednesday newspaper round-up: Thames Water, Johnson & Johnson, BoE
(Sharecast News) - Thames Water may need as much as £10bn in debt and equity investment to repair its finances, according to a representative of creditors hoping to lend the struggling utility another £3bn. London's high court heard evidence on Tuesday that suggested the UK's largest water company may need significantly more resources than the roughly £6.3bn it has previously indicated. - Guardian
Monday newspaper round-up: Zero-hours contracts, Barclays, Asos
(Sharecast News) - Hundreds of thousands of British workers are on zero-hours contracts despite being with the same employer for years, according to analysis from the TUC. The majority of zero-hours contract workers have been with their employer for more than 12 months, while one in eight have not been granted regular employment rights after more than a decade working in the same place, the organisation said. - Guardian
Friday newspaper round-up: Apple, Daily Mail, OpenAI, Homebase
(Sharecast News) - Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at $124.30bn, barely above estimates of $124.12bn. Earnings per share were $2.40, just ahead of analysts' expectations of $2.35. Shares rose more than 8% in extended trading after CEO Tim Cook indicated in an earnings call on Thursday that Apple is on the trajectory for revenue growth next quarter. - 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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