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Tuesday newspaper round-up: UK business investment, Drax, Tasty, Rolls-Royce

(Sharecast News) - Business investment in the UK fell to the lowest rate in the G7 group of wealthy nations despite corporation tax cuts, the government has been warned, as ministers prepare £30bn of giveaways targeted at companies and higher-income workers. The Institute for Public Policy Research (IPPR) said a "race to the bottom" on the headline tax rate on company profits had failed to boost investment and economic growth in Britain over the past 15 years. - Guardian MPs have warned consumers may end up paying higher bills if the government rushes into providing further state support for power station owner Drax. As part of Liz Truss's £150bn energy bills freeze, renewable and nuclear power generators are being asked to supply electricity below current market rates. - Guardian

Europe's economies face a permanent blow from higher energy costs as the Continent weans itself off cheap Russian energy, Barclays' chief economist for the region has warned. Silvia Ardagna at the bank said the bloc's push for "independence from Russian gas" will pull down growth, push up inflation and drag down the euro. - Telegraph

A quirk of market abuse regulations forced a quoted restaurant group to issue its half-year results yesterday, even though it was a bank holiday to mark Queen Elizabeth II's state funeral. Tasty, operator of the Wildwood and DimT chains, had intended to issue its interims at 7am today, but was told by Cenkos, its broker, that it had to push the button 24 hours earlier. - The Times

Rolls-Royce is at the centre of a multimillion-pound battle over the alleged stealing of business secrets from a technology company that provided the luxury carmaker with software enabling its clientele to customise their £250,000 cars virtually. The action brought by Topalsson, a software engineer, goes to the High Court in London next month in a claim and counterclaim by the Goodwood-based Rolls-Royce Motor Cars over breach of contract in the provision of the so-called configurator technology. - 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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