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Friday newspaper round-up: Twitter, energy price cap, mortgage rates

(Sharecast News) - Elon Musk may get access to Twitter data used in a 2021 audit of active users but other information the billionaire seeks in a bid to end his $44bn deal to buy the company were rejected as "absurdly broad", a judge said on Thursday. Twitter must turn over data from the 9,000 accounts sampled in the fourth quarter as part of its process to estimate the number of spam accounts. - Guardian British households were on average £160 worse off in July than a year earlier, according to research by the supermarket Asda, as it said it would do more to help shoppers being squeezed by soaring food and energy costs. Asda bosses said they would keep "grocery bills in check" and do all they could to support customers "during these tough times", as they monitor how much money consumers have to spend through their income tracker. - Guardian

The new Prime Minister is set to announce help for households with their energy bills within days of taking office, the public will be assured on Friday, as the price cap almost doubles to more than £3,500. Nadhim Zahawi, the Chancellor, is expected to say that measures will be announced "as soon as possible" after the winner of the Tory leadership contest is announced on September 5. - Telegraph

Marks & Spencer has been dragged back into a row over its decision to allow shoppers to choose whether to use the men's or women's changing rooms. Critics have warned the policy could be exploited and accused the retailer of introducing unisex changing rooms by "stealth". - Telegraph

The doubling of mortgage rates means that first-time buyers need an extra £12,250 to buy a home compared with last year. Sharply rising borrowing costs have sent short-term mortgage rates above 4 per cent for the first time in nearly a decade, hitting first-time buyers and those on lower incomes the hardest, according to Zoopla, the property website. - The Times

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Monday newspaper round-up: Investment bankers, energy price cap, Raspberry Pi
(Sharecast News) - London's investment bankers are expected to rake in bigger bonuses this financial year, as the City begins to recover from a two-year slump in deals caused by surging interest rates. Demand for investment banking services - such as facilitating mergers and acquisitions, advising companies and governments on fundraising, and underwriting new stock and bonds - was hit by a sharp increase in borrowing rates after the pandemic, as central banks acted to tame runaway inflation. Jobs and pay were cut as investment banks sought to reduce costs. - Guardian
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(Sharecast News) - Aviva, one of the ten largest shareholders in Britvic, thinks that Carlsberg needs to raise its takeover offer. During the preceding week, Britvic had let it be known that it had already rebuffed two acquisition offers from the Danish brewer, the highest of which had been for £3.1bn. In particular, Aviva said that Carlsberg was not taking sufficiently into account how Britvic's finances were expected to improve over the next few years. - The Financial Mail on Sunday
Friday newspaper round-up: Port Talbot, Elon Musk, Amazon
(Sharecast News) - Tata Steel has told workers it could to cease operations at its steel plant in Port Talbot months earlier than planned because of a strike. The company had been planning to shut down one of the blast furnaces by the end of June and the second one by September. But workers at the south Wales site have been told that Tata plans to cease operations at both furnaces no later than 7 July because of the strike by members of Unite, which starts the following day. - 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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