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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: Elon Musk, stealth raid, EDF

(Sharecast News) - Elon Musk has sold $6.9bn (£5.7bn) worth of shares in Tesla after admitting that he could need the funds if he loses a legal battle with Twitter and is forced to buy the social media platform. The Tesla CEO walked away from a $44bn deal to buy Twitter in July but the company has launched a lawsuit demanding that he complete the deal. A trial will take place in Delaware in October. - Guardian Businesses and even consumers could face blackouts this winter under government crisis plans as concerns grow over power supplies, it has emerged. Under the government's latest "reasonable worst case scenario", officials believe the UK could experience blackouts for several days in January if cold weather combines with gas shortages to leave the country short of power. - Guardian

Families will pay an extra £30bn a year in tax as soaring inflation drags millions of people into higher income tax bands, according to a leading think-tank. Rising prices and former chancellor Rishi Sunak's freeze on tax thresholds has left workers facing a stealth raid on their earnings, the Institute for Fiscal Studies (IFS) said. - Telegraph

EDF is suing the French government for €8.3bn (£7bn) after Emmanuel Macron forced the nuclear giant to sell energy at a loss. The company has filed a compensation claim with the Conseil d'Etat, the French administrative supreme court, over "losses incurred" as a result of a price cap extended in January. - Telegraph

The number of used cars sold fell by nearly a fifth in the second quarter as the supply issues that have put the brakes on the new car market finally hit the availability of second-hand vehicles. Figures out today from the Society of Motor Manufacturers and Traders showed a 18.8 per cent fall in the second quarter of 2022, with 1,759,684 transactions. Some 407,820 fewer vehicles changed hands compared with the same period last year. - 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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