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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: PwC, house prices, JLR

(Sharecast News) - More than 1,000 partners at the UK division of the "big four" accounting firm PwC will be paid £906,000 this year, a slight fall on last year's record payout as profits fell despite rising revenues. Unaudited accounts released by the company showed that PwC's UK profit fell from £1.5bn to £1.3bn in 2022, although last year's figure was boosted by a £139m gain from the sale of its global mobility business. - Guardian PwC has been a significant beneficiary of Saudi Arabia's global spending spree as the Gulf state looks to grow its economy beyond oil and gas. Strong demand for its advice from Middle Eastern clients helped drive a 30pc jump in the "Big Four" company's consulting revenues last year, new accounts show. - Telegraph

High interest rates are putting indebted businesses under the most pressure since 2009, the Bank of England has warned. Half of all businesses with borrowings will be struggling to meet debt payments by the end of this year, the Bank said, up from 45pc last year. - Telegraph

Falling house prices and record wage growth has meant houses have become more affordable on paper, but the rising cost of borrowing has cancelled out any benefit. The cost of a typical UK home is 6.7 times average earnings, down from a peak of 7.3 last summer, according to analysis from the country's biggest mortgage lender, Halifax. - Sky News

The UK's largest carmaker has announced plans to use old car batteries to store energy the national grid can't use and return it to the network at peak times. Jaguar Land Rover (JLR) is turning its used car batteries into what it says will be one of the largest energy storage systems in the UK. - Sky News

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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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