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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: UK economy, Odey, John Lewis

(Sharecast News) - More than half a trillion pounds' worth of underinvestment by government and business over recent decades has left Britain's economy trapped in a growth "doom loop", according to a thinktank. Sounding the alarm as the economy struggles to gain momentum, the Institute for Public Policy Research said the UK risked falling further behind comparable wealthy nations without a sharp turnaround in approach. - Guardian The Confederation of British Industry has been frozen out of regular meetings with other leading business lobby groups, hampering its fight for survival after a sexual misconduct scandal. Formerly Britain's leading voice for business, the CBI has been battling to overhaul its culture and regain trust after multiple allegations of misconduct were made by female employees, including two who said they were raped. Those allegations resulted in an exodus of members from John Lewis to Aviva and led Labour and the Conservatives to cut ties with the organisation. - Guardian

One of Britain's most senior hackers has left spy agency GCHQ to join the National Crime Agency (NCA) in a blow to Britain's international cyber capabilities. James Babbage, commander of the National Cyber Force (NCF), is joining the NCA as head of its intelligence arm. - Telegraph

Crispin Odey has lost his status as a "fit and proper" individual in the City of London in another blow for the tycoon since he became mired in allegations of sexual misconduct. Odey, 64, was ousted from from the eponymous hedge fund he founded earlier this month and the Financial Conduct Authority's register shows he is no longer certified by the firm to perform a role dealing directly with clients. It is a symbolic blow to Odey, one of Britain's best-known hedge fund managers. - The Times

The partnership behind John Lewis and Waitrose has written down the value of its head offices by £15.6 million, providing the latest sign that the work-from-home revolution and higher interest rates are depressing commercial property valuations. The writedown came after the food-to-fashion retailer closed seven floors of its central London headquarters and "revised" the use of its office buildings in Bracknell, in Berkshire, according to new annual account filings. - The Times

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(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.

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