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Wednesday newspaper round-up: Bank of England, US credit rating, Shoplifters

(Sharecast News) - The Bank of England should carry out an interest rate rise of a quarter of a percentage point tomorrow to keep control of stubbornly high inflation, The Times shadow monetary policy committee has argued. An overwhelming majority of the shadow MPC voted by 8-1 in favour of a 25-basis-point increase to the base rate this month, a step down from the rise of half a percentage point that the Bank was forced to carry out in June, when wage growth accelerated more than expected. The Bank rate is 5 per cent at present, the highest level since 2007. - Sunday Times Rating agency Fitch downgraded the US government's top credit rating on Tuesday, a move that drew an angry response from the White House and surprised investors. Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations that threaten the government's ability to pay its bills. It is the second major rating agency after Standard & Poor's to strip the US of its triple-A rating. - Guardian

Shoplifters are overrunning retailers and avoiding public rebuke because politicians have accused supermarkets of profiteering, the chief executive of Co-op Food has said. Matt Hood said there has been a surge in crime at his stores and that he was "disappointed" people were defending looters after MPs criticised rip-off prices. Co-op, which runs 2,500 outlets, recently released figures showing police were not responding to more than 70pc of call-outs over serious crimes in its stores. - Guardian

The TUC has urged the Bank of England to call a halt to interest rate increases after warning that widespread job losses in recent months have left the UK "teetering on the brink of recession". Employment had fallen in more than half of Britain's 20 industrial sectors in the three months to June, the union body said as it predicted a fresh increase in the cost of borrowing would put tens of thousands more livelihoods at risk. - Guardian

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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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