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Friday newspaper round-up: Deloitte, Apple, BNP Paribas

(Sharecast News) - UK households are facing an average tax rise of £3,500 a year by the next election, the country's leading economics thinktank has said - the biggest increase over a parliament on records dating back more than 70 years. The Institute for Fiscal Studies (IFS) said that on current forecasts the Conservatives were on track to raise £100bn more annually by 2024 than if taxes as a share of national income had stayed the same as in 2019. - Guardian

The average income of Deloitte's more than 640 equity partners in the UK rose to £1.1m this year, despite a recent slowdown in spending and company deals. Deloitte UK said revenue grew 14% to £5.6bn in the year to May, as buoyant markets in the first six months of its financial year bolstered demand for audit and advisory work. It helped offset the "increased caution" among more cash-strapped clients and a slowdown in merger and acquisition activity in the months that followed. - Guardian

Thousands of Apple customers have complained the company's "aerospace grade" titanium-clad iPhone 15 Pro handsets are overheating, just days after they bought them. Buyers of Apple's iPhone 15 Pro, which starts at £999, and the larger iPhone 15 Pro Max, which costs £1,119, have complained on customer forums, Twitter and Reddit that the devices are getting too hot to hold when conducting video calls, playing games or listening to music. - Telegraph

BNP Paribas has told staff that it is using data from entry-gate swipes and logins to its computer network to track whether they are hitting targets on working from the office. The French bank told its staff in London that the policy was "not a question of trust", but that changes would allow it to identify and support workers who were finding it difficult to meet on-site working requirements. - The Times

The chairman of Hipgnosis Songs Fund is to step down as the music investment company seeks to shore up shareholder support ahead of critical votes to determine its future. Andrew Sutch, the chairman since 2018, plans to retire amid attempts to win investor backing to continue the company. Another non-executive also intends to go. - The Times

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Wednesday newspaper round-up: Red tape, billionaires, diesel emissions
(Sharecast News) - Rachel Reeves has claimed that rules and red tape are acting as a "boot on the neck" of businesses and risk "choking off" innovation across the UK without bold reforms. In a speech to City bosses attending the Mansion House dinner at London's Guildhall on Tuesday evening, the chancellor heaped further pressure on regulators to allow for more risk in order to boost economic growth. - Guardian
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(Sharecast News) - Rachel Reeves will claim that cutting red tape for City firms will have trickle-down benefits for households across Britain, as she tries to drum up support for a new financial services strategy. A raft of regulatory reforms are due to be announced by the chancellor on Tuesday, in what the Treasury says will be the "biggest financial regulation reforms in a decade". It will come before her Mansion House address to City bosses during a dinner at Guildhall in London on Tuesday evening. - Guardian
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
Sunday newspaper round-up: EU tariffs, Begbies Traynor, Burberry's
(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

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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