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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: Energy prices for businesses, millionaires, FCA

(Sharecast News) - Jacob Rees-Mogg is expected to announce a cap on energy prices for businesses that would cut the rates they pay by up to half this winter. The business secretary will outline support on Wednesday for companies, charities and public sector organisations for six months from 1 October, after Liz Truss said they would receive equivalent help to households whose costs are being capped. - Guardian Nearly 11 million people are now behind on their bills while more than 5 million have gone without food, according to new research that reveals Britons are skipping meals "just to keep the lights on". An estimated 20% of UK adults, or 10.9 million people, are behind on one or more household bill - up by 3 million since March - according to the Money Advice Trust report. - Guardian

The number of millionaires in Britain surged ahead of those in France and Germany last year as a property boom and rebounding stock markets sent wealth levels surging. The UK is host to 2.85m people with a net wealth of more than $1m (£877,000), according to Credit Suisse's annual Global Wealth Report, putting the country behind only US, China and Japan. - Telegraph

The City regulator is rejecting a greater number of applications from financial firms wanting to do business in Britain as it adopts a more rigorous approach after a series of scandals. The Financial Conduct Authority said its increased level of scrutiny meant a marked increase in businesses being blocked from authorisation. - The Times

MPs have demanded that the government's first "mini budget" be accompanied by independent forecasts on the state of the public finances as the chancellor prepares to announce tens of billions in extra borrowing and tax cuts. The Treasury select committee has written to Kwasi Kwarteng asking that the Office for Budget Responsibility (OBR) be asked to provide an independent assessment of the debt and deficit in Friday's "fiscal statement", which will be made by the chancellor in the Commons. - The Times

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(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
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(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

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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