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Wednesday newspaper round-up: Network Rail, Klarna, Brewdog

(Sharecast News) - Cuts to rail funding could lead to more serious rail accidents as well as fewer, more crowded trains, unions have said. A TUC report said passenger safety will be compromised should Network Rail press ahead with reductions to its maintenance workforce to save £100m a year. About 2,500 jobs are expected to go and the TUC said it would be impossible to make such cuts without putting passengers at risk. It warned that the Treasury was also demanding cuts from train operators that would disrupt services and leave fewer trains running, leaving commuters "packed like sardines". - Guardian

The buy now, pay later company Klarna will start reporting UK customer debts to credit agencies for the first time next month, in a move that could affect shoppers' credit ratings from 2023. The move is understood to be the result of two years of talks with the credit reference companies Experian and TransUnion, and comes as buy now, pay later (BNPL) firms face pressure from MPs and campaigners who say they should prevent customers from taking on more debt than they can afford. - Guardian

In the wake of unprecedented upheaval during the Covid crisis, much of Britain has returned to normal. From large Northern cities to seaside towns, footfall is up, restaurants are busy again and public transport use is recovering. But this rebound largely seems to have passed by the biggest city of them all. London has been left at the back of the pack as commuters and tourists stay away. The Centre for Cities, a think tank, has London languishing at the bottom of its recovery rankings. - Telegraph

Former employees of the Bank of England, the institution responsible for controlling inflation, may soon be the only pensioners in the country more than fully insulated from the cost-of-living crisis. The 5,500 retired members of the Bank's staff pension fund are set to receive a pension increase of about 11 per cent this summer because of a generous quirk in the terms of their scheme. Unusually, the vast majority of Bank pensioners still get their incomes raised by the growth in the retail prices index, which hit 9 per cent last month and is forecast to rise well into double figures in the coming months. - The Times

The boss of Brewdog is to give £100 million of shares to staff and hopes to lead the business for years to come. James Watt intends to donate a 5 per cent stake over the next four years to salaried workers at the firm. The company said that 750 of its 2,200 people were eligible for the scheme, which could mean that each receives shares valued at about £120,000. - 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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