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Wednesday newspaper round-up: Manchester City, Selfridges, 'British Isa'

(Sharecast News) - Manchester City have announced record-breaking revenue for the 2022-23 financial year. The club confirmed income of £712.8m, outstripping the Premier League record £648.4m reported by Manchester United last month. City's figure is up from £613m and the club almost doubled its profit to £80.4m, from £41.7m, despite a large increase in wages. The 2022-23 season was highly successful for City, who won a Premier League, Champions League and FA Cup treble, boosting finances through commercial and broadcast revenue. - Guardian The UK's business and trade secretary has signed a deal to increase trade with Florida, the British government's latest pact with a single American state as it awaits a broader, post-Brexit US free trade agreement. The memorandum of understanding, signed on Tuesday by Kemi Badenoch and the Florida governor, Ron DeSantis, is the seventh deal between the UK and individual US states. - Guardian

A Thai retailer has seized control of Selfridges after a key shareholder in the luxury department store was hit by a cash crunch. Central Group said it has become Selfridges' largest shareholder after converting a €364m (£317m) loan provided to the department store into equity. - Telegraph

Over-65s refusing to downsize are stopping young families getting on the property ladder, says Zoopla. Older homeowners who are staying in homes that are larger than they need are driving a national shortage of three-bedroom homes, according to the property website. - Telegraph

Jeremy Hunt should create a "British Isa" in next week's autumn statement to end a "downward spiral of investment and lower valuations" on London's markets, business leaders have said. In a letter to The Times, a group of investors, brokers, City grandees and chief executives call on the chancellor to launch a dedicated incentive for backers of UK-listed companies that would put the £70 billion invested each year into the tax-efficient savings accounts "to work on behalf of the UK". - 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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