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Wednesday newspaper round-up: Netflix, Amazon, Twitter

(Sharecast News) - Netflix reported better-than-expected earnings on Tuesday, seeing a smaller exodus of viewers than originally forecast even as the platform struggles to maintain its meteoric pandemic growth. Though Netflix reported its second straight quarterly drop in subscriber growth, and lost 1 million viewers in the second quarter of 2022, that number was lower than the 2 million it had projected in its previous report. Shares were up 10% in after-hours trading. - Guardian Amazon's core UK division was handed a tax credit of just over £1m last year by HM Revenue and Customs despite the online retailer's profits soaring by almost 60% to £204m. The tax benefit was part of €1bn (£850m) in tax credits provided to Amazon by governments across Europe, up from €56m a year before, according to accounts filed for the US company's Luxembourg-based division. - Guardian

Twitter has been granted a fast-track hearing in its attempt to force Elon Musk to complete his $44bn takeover, after accusing the Tesla billionaire of harming the company "every hour of every day". Delaware judge Kathaleen McCormick ruled in favour of Twitter on Tuesday, setting a trial date for October. Mr Musk's lawyers had attempted to push the trial back to next year. - Telegraph

Clifford Chance has become the first of London's international "magic circle" law firms to smash the £2 million pay barrier for partners after it awarded a 10 per cent rise. The company said that the average annual drawing for its full-equity partners was £2.04 million, moving the firm at least temporarily to the top of the league table of elite UK commercial practices. The increase meant that Clifford Chance overtook Allen & Overy, which announced average annual pay last week of £1.9 million. - The Times

Retail investors will be able to take part in all types of fundraisings under sweeping proposals designed to shake up City rules and help London compete with stock markets overseas. Private investors are often penalised when companies seek to raise money quickly through placings that target institutions. This is because the stakes of individual shareholders who are not allowed to participate are automatically diluted by such deals. Placings are also typically priced at a discount, meaning retail investors miss out on the opportunity of buying cut-price shares. - The Times

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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
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - 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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