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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.

Wednesday newspaper round-up: Apple, The Hut Group, Sterling

(Sharecast News) - Apple may slash the number of iPhone 13s it will make this year by up to 10m because of a shortage of computer chips amid a worldwide supply chain crunch that led the White House to warn that "there will be things that people can't get" at Christmas. Apple was expected to produce 90m units of the new iPhone models this year but has told its manufacturers that the number would be lower because chip suppliers including Broadcom and Texas Instruments were struggling to deliver components, Bloomberg reported on Tuesday. - Guardian The EU will offer to remove a majority of post-Brexit checks on British goods entering Northern Ireland as it seeks to turn the page on the rancorous relationship with Boris Johnson. Up to 50% of customs checks on goods would be lifted and more than half the checks on meat and plants entering Northern Ireland would be abandoned under the bold offer from Brussels. - Guardian

Steel, chemical and ceramics manufacturers hit by soaring energy prices are to be offered state-backed rescue loans in return for limiting bosses' bonuses and dividends under plans being considered by ministers. Kwasi Kwarteng, the Business Secretary, is understood to have submitted the proposal to the Treasury as one of several options to save energy-intensive companies from collapse in the face of rocketing wholesale gas prices. - Telegraph

The world's largest shipping firm has diverted giant cargo ships away from the UK, leading to fears of a shortage of toys, clothes and electronics at Christmas. Maersk, the Danish shipping giant, announced that larger vessels would be ordered to dock elsewhere in Europe to avoid growing congestion at Felixstowe Port in Suffolk caused in part by a shortage of lorry drivers. - Telegraph

A key investor presentation intended to soothe City jitters over The Hut Group backfired spectacularly yesterday when it was followed by a barrage of sell orders and £1.9 billion was wiped from the company's value. Matt Moulding, co-founder, chief executive and executive chairman of the online retailer, said at the start of the virtual meeting that he intended to set the record straight about the scepticism over the company's Ingenuity platform - doubts that have already led to some short-selling attacks on the company. - The Times

Traders are placing ever larger bets against the pound despite growing expectations that the Bank of England will soon raise interest rates to tame the UK's rocketing inflation. Positions that will pay out if sterling falls have been built at the quickest pace in more than two years, according to a Bloomberg report that cited data from America's Commodity Futures Trading Commission. - The Times

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Friday newspaper round-up: Car sales, Vodafone, Glencore
(Sharecast News) - Ed Miliband has unveiled plans to make it easier for homeowners to install wind turbines in their gardens as part of a mass expansion of green power. The Energy Secretary has announced a consultation on relaxing planning rules governing the construction of turbines on residential and commercial properties. - Telegraph
Thursday newspaper round-up: Shorter working week, Microsoft, EY
(Sharecast News) - Nearly 1,000 British workers will adopt a permanently shorter working week, after the latest trial of a four-day week and similar changes to traditional working patterns. All 17 British businesses in a six-month trial of the four-day week said they would continue with an arrangement consisting of either four days a week or nine days a fortnight. All the employees remained on their full salary. - Guardian
Wednesday newspaper round-up: Prax Lindsey, Santander/TSB, pensions, Qantas
(Sharecast News) - The married couple behind the Prax Lindsey oil refinery awarded themselves at least $15.9m (£11.5m) in pay and dividends in the years leading up to its collapse, it has emerged, as the government urged the company's boss to "put his hand in his pockets" to help workers. Winston Soosaipillai, who goes by his middle names Sanjeev Kumar, jointly owned the refinery with his wife, Arani, until it plunged into insolvency on Monday. - Guardian
Tuesday newspaper round-up: King Charles, Google, offshore companies
(Sharecast News) - King Charles is set to receive official annual income of £132m next year, after his portfolio of land and property made more than £1bn in profits thanks to a boom in the offshore wind sector. Profits at the crown estate - which partly funds the monarchy - were flat at £1.1bn in its financial year to the end of March but more than double their level two years ago, at £442.6m. - 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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