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Wednesday newspaper round-up: Windfall tax, trade, pensions

(Sharecast News) - Renewable power companies will have their revenues capped in England and Wales, after the government bowed to pressure to clamp down on runaway profits. The announcement late on Tuesday night provoked immediate accusations that Downing Street had performed "another screeching U-turn" - having previously rejected calls to impose a windfall tax on power giants. - Guardian UK regulators are struggling to cope with the post-Brexit trading environment because of "poor preparation and planning", a House of Commons committee investigation has found. Almost two years after the UK quit the EU, there are still shortages of vets, toxicologists, lawyers and economists to deal with the UK's new status as a "third country", found the public accounts committee report, Regulating After EU Exit. - Guardian

The publisher of the Financial Times has revealed a slowdown in subscriber growth despite returning to profit. The Financial Times Limited, its UK business, reported a profit after tax of £11.6m for 2021, having fallen to a £34.5m loss the previous year. - Telegraph

Pension chiefs have warned the Bank of England it risks creating further market chaos by ending its bond-buying support later this week after officials were forced into another intervention. The industry urged Governor Andrew Bailey to extend the Bank's bond purchases to at least the Chancellor's Hallowe'en fiscal statement amid growing fears of more market chaos when the support wraps up on Friday. - Telegraph

Investors withdrew £11.25 billion from UK-domiciled open-ended investment funds and exchange-traded funds, the largest sum in more than a decade, according to the financial research firm Morningstar. Markets worldwide have seen a big sell-off since the start of the year as the war in Ukraine, rising interest rates, inflation and threats of recession rattle investors. An open-ended fund is a mutual investment fund that can issue and redeem shares at any time. - 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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