Skip Header
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: Energy bills support, prepayment meters, financial ombudsman

(Sharecast News) - The Treasury has performed a U-turn on a planned cut to energy support for households after warnings that it would plunge many thousands more families into poverty. In an announcement on the morning of the chancellor Jeremy Hunt's budget speech, the government confirmed that the energy price guarantee would continue at its current rate, which limits a typical annual household bill to £2,500. It is being extended from April, when it was due to expire, for a further three months until the end of June. - Guardian A ban on the forced installation of prepayment meters by energy companies has been extended beyond the end of March, Ofgem has said. The energy regulator's chief executive, Jonathan Brearley, told MPs that suppliers would not resume the installations until a code of practice was published and Ofgem was satisfied it was being adhered to. - Guardian

Saudi Arabia is to spend £30bn on a fleet of 72 Boeing jets as it seeks to dominate the Gulf with a new airline. Riyadh Air, launched on Sunday, has agreed to buy the Dreamliners in the plane maker's fifth biggest order of all time amid a scramble to eclipse neighbouring flag carriers Emirates, Qatar Airways and Etihad. - Telegraph

About 13,000 complaints made to the financial ombudsman have not been resolved after more than a year, the head of the service told MPs, as she admitted there is "more we could do to bring that number down". Abby Thomas, who joined the Financial Ombudsman service six months ago as its chief executive and chief ombudsman, told an influential cross-party committee of MPs that 7,500 of the cases are subject to legal proceedings or have had to be put on hold because the companies involved have gone into administration. - The Times

Tesco's imposition of fees for online suppliers has led to widespread calls for a referral to the grocery regulator. The UK's largest supermarket wrote to suppliers last week informing them it would be introducing Amazon-style fulfilment fees on all products sold on its UK and Ireland websites and app. - The Times

Share this article

Related Sharecast Articles

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.