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Tuesday newspaper round-up: Tesco, Sony, Klarna

(Sharecast News) - Treasury officials have quietly introduced a new "super tax" to deter energy company owners from cashing out lucrative contracts for gas bought in advance before leaving their supply business to go under. The government quickly pushed through the new laws late last week to counter industry concerns that Stephen Fitzpatrick, the founder of Ovo Energy, could use his almost two-thirds stake in the company to liquidate its long-term gas contracts and exit the supply market with a hefty profit. - Guardian Tesco is closing its Jack's discount chain, created to win back shoppers from Aldi and Lidl, less than four years after it was launched. Britain's biggest grocer opened the first Jack's stores - named after the supermarket's founder, Jack Cohen - in September 2018, in Chatteris in Cambridgeshire and Immingham in Lincolnshire, with a promise to be "the cheapest in town". - Guardian

Sony is to buy Bungie, a leading American video games developer, for $3.6 billion amid the flurry of dealmaking across the sector. The Japanese conglomerate - one of the global gaming industry's dominant players - has agreed to acquire the creator of the Halo and Destiny franchises in an attempt to expand the reach of its PlayStation console. - The Times

The founder of Games Workshop is launching a special purpose acquisition vehicle in London as he looks to buy a company in the video games or "metaverse" industries. Sir Ian Livingstone, who was also the chairman of the games developer Sumo Group before it was sold to Tencent for £1 billion last month, is asking investors to back him with £115 million. Through his Hiro Metaverse Acquisitions I vehicle, he wants to find and buy a video games studio, an esports platform, a digital sports business, a health app or virtual reality company. - The Times

Downing Street has launched an audacious bid to lure the $45bn (£34bn) payments behemoth Klarna to the London Stock Exchange amid fears that high-growth companies are snubbing the City for New York. Ministers courted the Swedish business at a Number 10 meeting in which they encouraged some of Europe's largest tech companies to float in the City by touting the opportunities for post-Brexit reform. - Telegraph

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(Sharecast News) - The next government should force all tradespeople who install home heat pumps, solar panels and insulation to sign up to a mandatory accreditation scheme to counter mistrust in the industry, a leading consumer group is demanding. A report from Which? found that households face "significant anxiety" in choosing tradespeople to fit low-carbon heating systems, such as heat pumps, and insulation after "press stories about poor work and rogue traders". - 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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