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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: BT Group, Water bills, CAB Payments

(Sharecast News) - The telecoms regulator has issued a warning to the chief executive of BT over his comments that the group's Openreach network expansion would "end in tears" for rivals and has opened an investigation into its performance. Ofcom said Philip Jansen's comments were of "significant concern" and that it "would be extremely concerned to see similar comments in future and will be keeping this under close review". - The Times Water companies are drawing up plans to increase household bills by up to 40 per cent to pay for the cost of tackling the sewage crisis and the consequences of climate change. In a move that has alarmed ministers, England's privatised utilities said that they needed the extra money to meet strict pollution targets. - The Times

Britain's financial technology sector received a double boost as payments firm Wise said its profits have more than trebled, while another confirmed plans to list on the London Stock Exchange next week. Wise, which specialises in international money transfers, posted a profit of £146.5million for the year to the end of March, up from £43.9million in 2022. And CAB Payments revealed that its shares would list on the London market next Thursday with a projected value of around £851million. - Daily Mail

Britain risks missing out on more than £100bn worth of electric car production, unless ministers use "every policy, every fiscal and regulatory lever" to compete with the EU, automotive chiefs have said. Industry leaders warned over the cliff-edge faced by looming post-Brexit tariffs on electric vehicles, saying ministers needed to urgently improve science education and secure tax-free deals to avoid a drop-off. - Daily Telegraph

Boots, Britain's biggest high street chemist, is to pull down the shutters on 300 shops over the next year as part of a cost-cutting drive by its American owner. The company will reduce its estate from 2,200 to about 1,900 stores amid speculation that the business could be put up for sale. - The Times

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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
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - 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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