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Wednesday newspaper round-up: Petrol prices, Amazon, DeepMind

(Sharecast News) - Nearly two-thirds of UK manufacturers expect to raise their prices in the run-up to Christmas after being hit by mounting cost pressures, a leading employers' group has said. The British Chambers of Commerce said inflation expectations had risen to their highest since its records began at the end of the 1980s, with 62% of industrial firms planning price hikes over the next three months. - Guardian Petrol prices could reach all-time highs before Christmas, the RAC warned, signalling "misery" for motorists still reeling from the fuel shortage crisis. Amid signs that the number of petrol forecourts running dry was easing, the drivers' organisation warned that anxiety about whether motorists could fill up their tanks was likely to be replaced by concern about how much it would cost. - Guardian

Vladimir Putin has blamed the shift to renewable energy for causing "hysteria and confusion" in European markets as gas prices surged to new record highs. The Russian president claimed that the power crisis gripping the West is being driven by an "unbalanced" and "drastic" move away from fossil fuels, amid efforts by the Kremlin to downplay suggestions that it has sent prices surging by restricting the supply of gas. - Telegraph

Amazon has opened a new bricks and mortar concept store selling electronics, books, toys and kitchenware in a fresh assault on physical rivals such as John Lewis and Curry's. Called 4-star, the shop stocks about 2,000 of the company's highest-rated and most popular products and is located in Bluewater, a shopping centre just outside of London. - Telegraph

Google's London-based artificial intelligence lab has moved into the black for the first time after the Silicon Valley giant used more of its discoveries in its commercial products. DeepMind's maiden annual profit draws a line under many years of heavy losses and suggests that its parent is starting to generate significant revenue from its intellectual property. - 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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