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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.

Friday newspaper round-up: Live events sector, Virgin Galactic, Cairn Energy

(Sharecast News) - The battered live events sector, from summer music festivals to business conferences and boat shows, has finally been promised a Covid cancellation insurance scheme. Campaigners have long been pleading for insurance support to help the sector get back on its feet, because commercial insurers have not provided cover for Covid-related cancellations. While welcomed, the announcement comes far too late for a string of festivals and events that have already been abandoned. - Guardian Virgin Galactic has said it will open ticket sales on Thursday for space flights starting at $450,000 a seat, weeks after the company's billionaire founder, Richard Branson, took a high profile flight to to the edge of space. The space-tourism company said Thursday it is making progress toward beginning revenue flights next year. It will sell single seats, package deals and entire flights. - Guardian

Qatar Airways has grounded Airbus aircraft after discovering fuselages were "degrading at an accelerated rate". Some 13 Airbus A350s, which have a carbon composite body that makes them lighter and more fuel-efficient, have been taken out of the service, the state-owned airline said. - Telegraph

Crispin Odey, the hedge fund manager, has taken on "meme stock" traders by betting against the fortunes of AMC Entertainment, the US cinema group that also owns the Odeon chain. Mr Odey, 62, said that investors using trading apps such as Robinhood to back AMC had left the US company "way overvalued on any grounds". - Telegraph

Cairn Energy is moving closer to receiving $1.7billion in compensation as part of a long-running tax dispute with the Indian government. Delhi is planning to settle lengthy tax disputes by introducing proposals for an amendment to its tax law. The move sent Cairn's shares up by more than a quarter yesterday. - The Times

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Sunday newspaper round-up: Debt interest, Autumn Budget, RC Fornax
(Sharecast News) - Rachel Reeves has been left facing a £50bn bill as a result of higher debt interest payments following a rout in the bond market. And City exports caution that the bill could keep climbing. Hence, the Chancellor may soon have to choose between either bending her own fiscal rules, enacting tax increases or cutting spending. The rout has seen the tiny £10bn buffer left by Reeves to meet her main fiscal rule, which requires that tax revenues cover day-to-day expenditures, evaporate. - The Financial Mail on Sunday
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(Sharecast News) - The number of people in England and Wales who sought help with energy bills jumped by 20% last year, according to Citizens Advice, which assisted 60,000 households struggling with the soaring cost of gas and electricity. That number was double the figure for 2020, the national consumer advice charity said, with problems with billing being the single most common type of issue raised with its service providers. - Guardian
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(Sharecast News) - Vacancies for permanent jobs in the UK declined at their fastest pace for four years last month, according to a new survey that adds to the gloomy economic mood. Amid febrile markets and weak economic data, the monthly jobs report from the consultancy KPMG and the recruitment firm REC shows many firms reluctant to hire. - Guardian
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(Sharecast News) - The UK's advertising watchdog has banned a campaign by an online investment company predominantly targeting Muslims that featured images of euros and US dollars and the words "The United States of America" in flames alongside a call to "join the money revolution". Wahed Invest Ltd, an online investment platform, ran six posters on various Transport for London (TfL) services, including the London Underground and on buses, last September and October. - 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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