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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: HS2, CBI, mortgages

(Sharecast News) - The cancellation of the northern leg of HS2 has raised "urgent unanswered questions" and the government does not yet understand how the £67bn high-speed railway will now function, according to a scathing report from parliament's spending watchdog. The remaining London-Birmingham line will be "very poor value for money", the public accounts committee of MPs said, with costs now forecast to significantly outweigh the benefits. - Guardian The new president of the Confederation of British Industry has admitted that the Guardian's revelations about sexual misconduct at the lobbying group were "an appalling shock" that tipped it into a "near-death experience". Rupert Soames said the scandal had triggered an existential crisis, from which he is trying to rescue the organisation. - Guardian

The Bank of England has pushed the UK into recession by refusing to clearly communicate its plans to cut interest rates, top economists have warned. Britain fell into a recession at the end of 2023, according to estimates by the National Institute of Economic and Social Research (NIESR), as GDP fell by 0.1pc in part because of the Bank's insistence high interest rates would not fall soon from their current 16-year high of 5.25pc. - Telegraph

A new Dutch-style mortgage lender is set to release fixed-rate mortgages where the rates will automatically reduce as borrowers repay them. April Mortgages, authorised by the Financial Conduct Authority in October, plans to offer loans to existing homeowners remortgaging and new buyers by the end of March. - The Times

Estimated energy output from wind farms should be subject to independent checking, according to MPs, after claims that operators overestimate ­production to reap financial benefits. Wind farm operators are often paid to switch off their turbines when generation outstrips demand to prevent the electricity grid from being overloaded. These curtailment payments are based on the amount of energy that a wind farm company says it will produce. - The Times

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Sunday share tips: PPHE, Keystone Law
(Sharecast News) - The Financial Mail on Sunday's Midas column labelled shares of PPHE an "attractive long-term buy" citing their valuation.
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

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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