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Wednesday newspaper round-up: THG, Twitter, European aviation

(Sharecast News) - The troubled online beauty retailer THG faces more pain after a leading credit insurer reduced cover to its suppliers. The Guardian can reveal that Allianz Trade, one of the UK's largest credit insurers, cut back cover for suppliers to the beauty-to-nutrition retailer, formerly known as the Hut Group, in recent weeks. - Guardian As the cost of living crisis continues to ravage people's incomes, it has emerged that almost 2m households have defaulted on at least one significant bill in the run-up to Christmas. According to the latest findings from Which?'s consumer insight tracker, an estimated 1.9m households failed to make at least one mortgage, rent, loan, credit card or other bill payment over the last month. - Guardian

Mick Lynch has held secret talks with Network Rail bosses amid hopes that he will sue for peace in the New Year as public support for train strikes crumbles. The RMT trade union general secretary and his deputy Eddie Dempsey met Network Rail's representatives in a hastily-arranged meeting on Tuesday morning, The Telegraph can disclose. - Telegraph

Elon Musk has said he will quit as chief executive of Twitter as soon as he has found "someone foolish enough" to take over. The Tesla billionaire was "actively searching" for a new Twitter boss on Tuesday, CNBC reported, despite having made comments that cast doubt over whether he was prepared to step down. - Telegraph

The government has ordered the sale of a regional broadband provider owned by LetterOne, the oligarch-backed investment company, over national security concerns. LetterOne agreed to finance Upp last year as part of a £1 billion investment plan to provide a regional full-fibre broadband network for a million premises in eastern England by 2025. - The Times

The European aviation industry has formally confirmed what many airlines and airports have been privately warning for months: air travel will not recover to pre-pandemic levels until 2025. ACI Europe, the European division of the Airports Council International professional body, has downgraded its forecasts for 2023 stating that it thinks 220 million fewer passengers will fly around the Continent than in 2019, a shortfall of 9 per cent. - 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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