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Wednesday newspaper round-up: Energy suppliers, Carl Icahn, Dyson

(Sharecast News) - Energy suppliers will be forced to offer vulnerable households dedicated phone lines in a drive by the regulator Ofgem to improve poor treatment of the most disadvantaged customers. The regulator is planning a crackdown on suppliers' conduct after a slump in customer service during the energy crisis with long call waiting times and difficulty contacting companies. - Guardian Ministers have announced a clampdown on the use of cold calls to sell financial products and on technology which allows mass texting of numerous phones as part of a strategy to combat fraud, now the UK's most common crime. The new fraud strategy, a response to the massive growth of web- and phone-based scams, will alsoresult in what was billed as 400 new specialist investigators across police and the National Crime Agency recruited as part of a revamp for how the the crime is investigated. - Guardian

Carl Icahn, one of Wall Street's best-known activist investors, has become the target of a short-seller which has accused the billionaire of inflating the value of his empire. Hindenburg Research accused the hedge fund manager of operating a "ponzi-like economic structure" through his $15bn fund, Icahn Enterprises, and claimed its value had been inflated by at least 75pc. - Telegraph

Dyson is to spend £100 million on a new technology centre in Bristol as part of a five-year programme of investments totalling £2.75 billion. Sir James Dyson's vacuum cleaner and home appliances business said it would employ hundreds of software and artificial intelligence engineers at the centre to develop new products and apps. Dyson's UK operations are already staffed with more than 3,500 engineers working in research and development across sites in London and Malmesbury in Wiltshire. - The Times

Sir Martin Sorrell pocketed less than half of the bonus he could have earned last year for running S4 Capital, the digital advertising business he founded. Sorrell, 78, was paid a basic salary of £250,000 in 2022 and could have received the same amount again in bonuses. However, S4's annual report shows that he only received £100,000. - The Times

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Monday newspaper round-up: Tax increases, Lloyds bankers, Virgin Group
(Sharecast News) - Business leaders plan to cut costs and rein in hiring in response to government tax increases set out in the autumn budget, with employment expectations taking the sharpest tumble since the start of the coronavirus pandemic. A net two-thirds of finance directors said they did not expect to increase hiring levels this year, a four-year high, with a net 26% feeling more pessimistic about the prospects for their business than three months ago, the first time sentiment had slipped into negative territory in 18 months, according to the latest survey by the accountancy firm Deloitte. - Guardian
Sunday newspaper round-up: Debt interest, Autumn Budget, RC Fornax
(Sharecast News) - Rachel Reeves has been left facing a £50bn bill as a result of higher debt interest payments following a rout in the bond market. And City exports caution that the bill could keep climbing. Hence, the Chancellor may soon have to choose between either bending her own fiscal rules, enacting tax increases or cutting spending. The rout has seen the tiny £10bn buffer left by Reeves to meet her main fiscal rule, which requires that tax revenues cover day-to-day expenditures, evaporate. - The Financial Mail on Sunday
Friday newspaper round-up: Energy bills, ticket touting, BlackRock
(Sharecast News) - The number of people in England and Wales who sought help with energy bills jumped by 20% last year, according to Citizens Advice, which assisted 60,000 households struggling with the soaring cost of gas and electricity. That number was double the figure for 2020, the national consumer advice charity said, with problems with billing being the single most common type of issue raised with its service providers. - Guardian
Thursday newspaper round-up: Job vacancies, civil servants, Darktrace
(Sharecast News) - Vacancies for permanent jobs in the UK declined at their fastest pace for four years last month, according to a new survey that adds to the gloomy economic mood. Amid febrile markets and weak economic data, the monthly jobs report from the consultancy KPMG and the recruitment firm REC shows many firms reluctant to hire. - 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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