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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.

Sunday newspaper round-up: Sainsbury's, British Steel, DeSantis

(Sharecast News) - Sainsbury's chief Simon Roberts gave his support to the Financial Mail on Sunday's campaign for police to crack down on shoplifters as an epidemic of retail crime sweeps across the country. Roberts also said he backed making abuse or violence against retail staff a specific offence. He also noted that the grocer had been the first to offer all of its 150,00 staff body-worn cameras that can aid support teams at its stores. - The Financial Mail on Sunday British Steel's new auditor has unexpectedly resigned, further putting at risk £600m of state aid needed to stave off collapse at the Chinese-owned manufacturer.The decision by Moore Kingston Smith follows its inability to verify tens of millions of pounds' worth of inventories. The auditor had taken over just over a year ago from Mazars which had resigned after a row over fees. Moore Kingston Smith said it could not account for £45.8m worth of stock during the year ending in December 2021, the accounts for which had been severely delayed. - The Sunday Times

US state of Florida hard-right governor Ron DeSantis has bowed out of the running for the Republican party's presidential nomination. Instead, he has thrown his support behind Donald Trump. "It's clear to me that a majority of Republican primary voters want to give Donald Trump another chance," DeSantis said on X. "He has my endorsement because we can't go back to the old Republican guard of yesteryear, a repackaged form of warmed over corporatism that Nikki Haley represents." - Guardian

Enquest chief executive officer Amjad Bseisu criticised Labour's plan to ban new oil and gas drilling, calling it "economically senseless". Bseisu believed that it would lead to rigs being shut down a decade ahead of plan. Indeed, the driller's two large Magnus and Kraken platforms would be rendered less economical and put at risk of being closed early. Early closures would also have an impact on the Treasury as oil companies get big tax breaks for decommissioning. - The Sunday Telegraph

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(Sharecast News) - Lucy Tobin at the Sunday Times tipped shares of Moneysupermarket, arguing that the energy sector would recover at some point.
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(Sharecast News) - The energy price cap in Great Britain will fall to the equivalent of £1,568,a year this summer after a drop in wholesale gas prices. Set by the energy regulator, Ofgem, the cap reflects the average annual dual-fuel bill for 29m households and takes effect from July until the end of September. The cap, which is set quarterly, will fall £122 in July from its current level of £1,690, easing the pressure on household finances. - Guardian
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(Sharecast News) - San Francisco federal courthouse on Thursday as a key witness in his own criminal fraud trial, which began in March. US authorities have charged the former software tycoon with 16 counts of wire fraud, securities fraud and conspiracy relating to his company's acquisition deal with Hewlett-Packard in 2011. If convicted, Lynch faces up to 25 years in prison. He has pleaded not guilty. - Guardian
Wednesday newspaper round-up: Anglesey power station, electric cars, Eurostar passengers
(Sharecast News) - Ministers have earmarked north Wales as the site of a large-scale nuclear power plant, which is part of plans to resuscitate Britain's nuclear power ambitions. Wylfa on Anglesey (Ynys Môn) has been named as the preferred site for the UK's third major nuclear power plant in a generation, coming after EDF's Hinkley Point C nuclear plant, which is under construction in Somerset, and its Sizewell C nuclear project planned for Suffolk. - 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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