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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.

Thursday newspaper round-up: Public services, house prices, Rio Tinto

(Sharecast News) - Rishi Sunak's government has been warned that Britain's creaking public services will require at least £43bn a year in additional funding just to "stand still" amid the fallout from soaring inflation. The Trades Union Congress said next week's autumn statement needed to protect both public services and workers' pay from the highest rates of inflation since the early 1980s to avoid a further collapse in the quality of support for health, social care, education, justice, and the environment. - Guardian House prices stalled last month after more than two years of growth as a sharp rise in mortgage rates fuelled caution among buyers, according to Britain's official surveyors body. The Royal Institution of Chartered Surveyors (Rics) also predicted that rents will be 4% higher in a year's time due to an imbalance between strong tenant demand and the supply of homes to let. - Guardian

British households could be paid to help prevent blackouts in France this winter, under plans drawn up by National Grid. The company in charge of keeping Britain's lights on is prepared to ask households to cut their energy usage so that more power can be exported to the continent to avert blackouts there. - Telegraph

A shareholder vote on Rio Tinto's $3.3 billion takeover of Turquoise Hill Resources has been suspended indefinitely amid concerns over arrangements that could lead to some investors being paid a higher price than others. The FTSE 100 miner is seeking to buy the 49 per cent of the Canadian-listed Turquoise Hill that it does not already own, giving it control of the Oyu Tolgoi copper mine in Mongolia, in which Turquoise Hill owns a 66 per cent stake. - The Times

A biopharmaceuticals business that develops drugs licensed by a British medical charity is to list in the United States via a so-called Spac or blank-cheque deal. The privately owned Conduit Pharmaceuticals plans to merge with Murphy Canyon Acquisition Corp, a Nasdaq-listed special purpose acquisition company, with a market valuation of $850 million, including cash of about $150 million. - The Times

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Wednesday newspaper round-up: Wealth tax, net zero economy, Sizewell C
(Sharecast News) - The London stock market risks "drifting into irrelevance" without government and regulatory reforms, ranging from tax breaks for stock market listings to looser bonus rules for directors, a lobbying group has said. The 20 recommendation put forward by the Confederation of British Industry (CBI), which lobbies on behalf of UK businesses, suggest financial incentives, marketing campaigns and boardroom pay are central to guaranteeing the future success of the London Stock Exchange, which has been losing stock market listings and floats to foreign rivals. - Guardian
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(Sharecast News) - Bosses in the UK will be banned from using non-disclosure agreements to silence employees who have suffered harassment and discrimination in the workplace as part of the government's overhaul of workers' rights. Ministers will on Monday night table amendments to the government's employment rights bill to prohibit the widespread practice of using legally enforceable NDAs to conceal unacceptable behaviour at work. - Guardian
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(Sharecast News) - Donald Trump has said that his administration plans to start sending letters on Monday to US trade partners dictating new tariffs, amid confusion over when the new rates will come into effect. "It could be 12, maybe 15 [letters]," the president told reporters, "and we've made deals also, so we're going to have a combination of letters and some deals have been made." - Guardian
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(Sharecast News) - Brussels is heading into a critical week, with just two to go to clinch a trade agreement with the US or face a 50% levy on its exports. At stake are €1.6trn in transatlantic trade. Germany is down as favouring a quick deal akin to that inked by the UK so as to avoid a full-blown trade war. Paris on the other hand believes that the EU should hold out if too quick a deal is "imbalanced" - 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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