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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.

Tuesday newspaper round-up: Private renters, TikTok, Mulberry

(Sharecast News) - Private renters are almost twice as likely to be struggling with problem levels of debt than the general population, with a sharp rise in the numbers in serious financial difficulty since January, research shows. The figures come against a backdrop of private rents in the UK hitting record highs, and days after the government announced a shake-up of the sector to tackle the "injustices" that many tenants are facing. - Guardian TikTok has filed a federal lawsuit against Montana over the state's new law banning the short-video app. In the suit filed on Monday, the company argues the ban violates first amendment rights of both the company and its users. The suit also argues the ban is pre-empted by federal law because it intrudes upon matters of exclusive federal concern and violates the commerce clause of the US constitution, which limits the authority of states to enact legislation that unduly burdens interstate and foreign commerce. - Guardian

The sportswear entrepreneur Mike Ashley is mounting an incursion onto the board of the luxury handbag maker Mulberry, threatening to pit him against its majority owners in a boardroom battle of the billionaires. Frasers, the £3.6bn retailer controlled by Mr Ashley, owns 37pc of Mulberry's Aim-listed shares. However Mulberry is controlled by the Singapore-based billionaire hotelier Ong Beng Seng and his wife Christina, who hold sway over 56pc of the Somerset-based brand. - Telegraph

BP and Shell are "very excited" about investing in the EU after Brussels unveiled more favourable incentives for green projects, Michael O'Leary has claimed. The Ryanair chief said the two oil majors had indicated that a recently announced package of subsidies from Brussels had made investing in the Continent more attractive. - Telegraph

First Citizens, which acquired Silicon Valley Bank after its collapse, has sued HSBC over claims that the FTSE 100 lender illegally poached dozens of the collapsed American firm's employees. HSBC, which acquired the British arm of SVB following its abrupt failure in March, stands accused of "brazenly" seeking to "plunder" trade secrets. HSBC declined to comment. - The Times

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Monday newspaper round-up: Pubs, country houses, Severn Trent
(Sharecast News) - The boss of the pub chain Greene King has called for changes to business rates to remedy "unfairness" that he said added to financial pressures on the struggling pubs industry. Nick Mackenzie, Greene King's chief executive, said the business rates system of property taxes should be changed to a tax on profits. - Guardian
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(Sharecast News) - The US President announced that imports from the EU and Mexico would both be taxed at 30% commencing on 1 August. The announcement was a surprise for both Brussels and the US trade representative, Jamieson Greer, as both believed that they had reached a deal that would be acceptable to both sides. EU trade ministers' previously scheduled Monday meeting will now see them come under pressure to show a "tough" reaction. - Guardian
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(Sharecast News) - Ministers are considering options to step in to save another major steel plant if its parent company collapses into administration after a key court case next week. The business secretary, Jonathan Reynolds, is understood to be looking at what the government can do to support Speciality Steel UK (SSUK) - part of the Liberty Steel Group owned by Sanjeev Gupta - should it be faced with possible closure after Wednesday's insolvency hearing. - Guardian
Thursday newspaper round-up: Thames Water, high streets, X boss
(Sharecast News) - Thames Water paid almost £2.5m to senior managers from an emergency loan that was meant to be used to keep the failing utilities company afloat - and has refused to claw back the payments, newly released documents reveal. The struggling water supplier paid bonuses totalling £2.46m to 21 managers on 30 April. - 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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