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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: Telecoms, Greggs, Tony Danker

(Sharecast News) - A trio of telecoms firms have been accused of overcharging hundreds of thousands of landline-only customers by almost £200m, according to research. Economists at Fideres argue that almost 600,000 UK landline-only customers have been charged "excessive" prices since 2009. - Guardian The bakery chain Greggs is to appeal against a ban preventing a central London outlet from selling hot food through the night after police claimed it could lead to a spike in crime and disorder. The company was last summer refused an overnight licence to open its store in Leicester Square between between 11pm and 5am amid claims it could become a "hotspot for late-night disturbances and antisocial behaviour". - Guardian

The former head of the CBI has said he has been made the "fall guy" for a wider crisis within Britain's biggest business lobbying group, amid allegations of drug use and rape. Tony Danker said his reputation has been "totally destroyed" by the misconduct claims, which were unrelated to his dismissal but came to light around the same time. - Telegraph

The leading shareholder in HSBC has accused the bank's bosses of being "closed-minded" about a break-up as Ping An detailed for the first time its plan to spin off the lender's Asian division. The Chinese insurer, which owns an 8 per cent stake, claimed that the FTSE 100 bank had "refused to verbally engage in discussions" on its proposals and had "exaggerated many of the costs and risks". It had been "extremely disappointed" by the "consistent closed-minded attitude" displayed by executives at the British group. - The Times

Lawyers for Jes Staley have been given the chance to question the former Barclays chief executive's ex-boss at JP Morgan over allegations surrounding the crimes of Jeffrey Epstein. Jamie Dimon, JP Morgan's veteran chairman and chief executive, has been ordered by a federal judge to set aside two days for questioning under oath as America's largest bank grapples with legal action over its former ties with Epstein, the paedophile. - The Times

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Thursday newspaper round-up: Thames Water, mortgage costs, UK car production
(Sharecast News) - Thames Water has breached its licence to supply water to nearly 16 million people after some of its debt was downgraded to junk status. The regulator Ofwat could now fine Thames, the country's largest water monopoly, up to 10% of its annual turnover, equating to hundreds of millions of pounds. However, since the company is already teetering close to temporary renationalisation, Ofwat is likely to hold off on any immediate large fines. - Guardian
Wednesday newspaper round-up: Reckitt, Tesla, Virgin Atlantic...
(Sharecast News) - Reckitt is under pressure from top shareholders to revisit a sale of its nutrition business, following litigation and a series of other setbacks at the division that have sent the company's share price to decade lows. The FTSE 100 consumer giant acquired the Mead Johnson infant formula business in 2017 for $17bn - its largest-ever acquisition - and it has been plagued by mishaps ever since. Meanwhile, the wider group, which makes Lysol detergent and Durex condoms, has underwhelmed investors as it struggles to build back sales volumes following a period of high inflation and suppressed consumer demand. - Financial Times
Tuesday newspaper round-up: Kamala Harris, Crowdstrike, Vivendi...
(Sharecast News) - Kamala Harris has secured enough delegates from her party to clinch the Democratic presidential nomination, as she pledged to offer Americans a "brighter future" compared to the "chaos, fear and hate" proposed by Donald Trump. The US vice-president was speaking in Wilmington, Delaware, on Monday, the first full day since President Joe Biden dropped his re-election bid and endorsed her for the Democratic presidential nomination, shaking up the 2024 race for the White House. - Financial Times
Monday newspaper round-up: Biden, gambling levy, UK economy...
(Sharecast News) - Kamala Harris, the vice-president, has emerged as the frontrunner to replace President Biden as the Democratic nominee for the election against Donald Trump in November. Biden, 81, announced yesterday afternoon that he would drop out of the race. In the hours that followed, Harris, 59, was endorsed by leading Democrats, prospective rivals and the chairs of all 50 state parties. - The Times

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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