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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.

Monday newspaper round-up: UK growth, Waitrose, HMRC, Crispin Odey

(Sharecast News) - Britain will be left with deep scars from the pandemic despite narrowly escaping a second recession within three years and growing signs of an economic pick up, according to new forecasts. A new report by the accountancy firm KPMG has found that the economy has enjoyed a better start to the year than it had thought, and is now expected to grow by 0.3% this year, compared with its previous prediction of an uplift of just 0.1%. - Guardian

Waitrose has cut the price of bread, beef mince, chicken and other kitchen staples as the supermarket battles to recover from an IT meltdown that caused widespread empty shelves. The grocer is slashing the cost of hundreds of items for the second time this year, after pledging to spend £100m on making its prices more affordable. - Telegraph

London homeowners will see their annual bill jump by up to £7,300 when they remortgage this year as 3.5 million borrowers face a rate shock. Nationally, homeowners will have to spend nearly an extra £9bn in interest over 2023 and 2024 as they are forced to refinance at rates that are double what they are used to, according to the Centre for Economics and Business Research. - Telegraph

HMRC's delayed programme to digitise the tax system is expected to cost five times its estimate in real terms, according to the spending watchdog. The National Audit Office (NAO) warned that "significant delivery risks" continued to loom over the "making tax digital" scheme, which was announced eight years ago. It has been delayed four times. - The Times

Just days after fresh allegations surfaced of sexual misconduct by Crispin Odey, one of Britain's most high-profile financiers, partners at the firm he founded moved quickly to oust him. Peter Martin, the chief executive of Odey Asset Management, and Michael Ede, chief financial and operating officer, signed a statement on Saturday from its executive committee announcing that Odey, 64, was leaving the firm that he founded 32 years ago. - The Times

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Wednesday newspaper round-up: Aviva Investors, HSBC, car finance
(Sharecast News) - One of the UK's biggest pension funds has lost more than £350m on a series of "calamitous" investments in incinerator power plants that are expected to go bust in the coming days. The Guardian understands that Aviva Investors will put three incinerators into administration this week after pouring millions of pounds into what has been described as the country's "dirtiest form of power generation". - Guardian
Tuesday newspaper round-up: Starling Bank, Asos, Morrisons
(Sharecast News) - Staff have resigned at Starling Bank after its new chief executive demanded thousands of workers attend its offices more regularly, despite lacking enough space to host them. In his first major policy change since taking over from the UK digital bank's founder, Anne Boden, in March, Raman Bhatia has ordered all hybrid staff - many of whom were in the office only one or two days a week, or on an ad-hoc basis - to travel to work for a minimum of 10 days each month. - Guardian
Monday newspaper round-up: Energy bills, Black Friday, Lloyds Bank, Sephora
(Sharecast News) - Household energy bills across Great Britain are set to rise at the start of next year, analysts predict, putting more pressure on household finances. Officially, the price cap for January-March 2025 will be set on Friday morning by regulator Ofgem, limiting what energy providers can charge in England, Scotland and Wales. - Guardian
Sunday newspaper round-up: Kursk, AstraZeneca, BAE Systems
(Sharecast News) - America's President has authorised Ukraine to employ long-range ATACMS supplied by the US to strike targets inside Russia. More specifically, Kyiv will now be allowed to strike targets within the Kursk region, the New York Times reported. Speculation may increase that permission from Britain, the US and France to do the same with Storm Shadow missiles could follow. Joe Biden's decision is said to have been triggered by the appearance of North Korean troops in the Kursk region. - The Sunday Telegraph

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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