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Wednesday newspaper round-up: Minimum wage, energy crisis, Eurostar

(Sharecast News) - The minimum wage should be increased to £15 an hour as soon as possible to help millions of low-paid workers struggling amid the cost of living crisis, the TUC has said. In a move that opens a fresh policy gap between unions and Keir Starmer's Labour party, the TUC has thrown its weight behind calls for a more ambitious legal floor on pay rates. The union body said the government needed to draw up plans to get wages rising as workers suffer the biggest hit to living standards on record. - Guardian Ministers could face an additional £23bn price tag for covering extra household energy costs of £900 this autumn, rising to £90bn next year, a new paper by the Institute for Government has found. The paper, looking at the options for Liz Truss or Rishi Sunak in No 10, also warned the government should plan for prolonged rises in energy bills by going a lot further in making public appeals to use less gas - for example by informing consumers about the cost savings from turning down thermostats - and in committing to building more energy efficient homes to help protect consumers. - Guardian

Industry chiefs are preparing for the energy crisis to last for another three years as National Grid draws up emergency plans to reduce power demand from factories across Britain. Large industrial companies would be paid to cut gas usage every winter until 2025 as National Grid attempts to avoid uncontrolled blackouts that would cause "a major economic and societal impact". - Telegraph

Eurostar trains will not stop in Kent for up to three years, the operator said as it blamed the decision on Brexit and its post-pandemic recovery. The county could remain disconnected from the Continent until 2025 after the train company dashed hopes of a gradual return of services next year. - Telegraph

The Dutch state railway, one of the biggest backers of Britain's train network via its Abellio subsidiary, is quitting the UK. Abellio UK, which employs 15,000 people as operator of Greater Anglia, East Midlands Railway, West Midlands Railway and Merseyrail, and has substantial operations in the London bus market, is set to be sold by Nederlandse Spoorwegen to local management. - 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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