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Wednesday newspaper round-up: Zoom, fraudulent loans, Starling Bank

(Sharecast News) - Households in Britain will suffer a hit to their finances of up to £4,000 this year, according to a report warning that the economy could avoid recession but that, for millions, it will not feel like it has. Adding to pressure on Rishi Sunak as the government prepares to scale back its support for energy bills this spring, the National Institute for Economic and Social Research (NIESR) said low and middle-income households were facing the biggest financial hit from the cost of living crisis. - Guardian Zoom is to make 1,300 layoffs, letting go of around 15pc of its workforce as the Covid-19 pandemic's work-from-home culture comes to a crashing halt. Eric Yuan, the chief executive, said: "We have made the tough but necessary decision to reduce our team by approximately 15% and say goodbye to around 1,300 hardworking, talented colleagues." - Telegraph

Lidl and Tesco are facing off in a High Court battle over a yellow circle logo. The two supermarkets are at loggerheads over claims by Lidl that Tesco infringed its copyright by using a yellow circle to promote its clubcard prices. Tesco has filed a counterclaim against Lidl in the dispute which started in April last year. - Telegraph

Loans that were potentially fraudulent accounted for close to £1 in every £6 paid by taxpayers to cover losses on a key pandemic finance scheme. New official figures show that of the £4.1 billion the government has paid to lenders for defaulted credit under the bounce back loan scheme, £640 million worth of facilities were marked as "suspected fraud". - The Times

Funds managed by Jupiter Asset Management have sold their stakes in privately owned Starling Bank and sworn off buying any unlisted shares in future. Jupiter said its open-ended funds would make no further investments in unlisted shares. - 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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