PRESS DIGEST- Financial Times - July 5

BY Reuters | ECONOMIC | 07/04/22 08:16 PM EDT

July 5 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- UK ministers rebuff request for help in reopening fertiliser plant https://on.ft.com/3P6gFiy

- Intensive industrial energy users to warn UK ministers over gas rationing https://on.ft.com/3ahaadQ

- Bundesbank boss warns against 'fatal' assumptions in ECB crisis tool https://on.ft.com/3RmBBUr

Overview

- British government has rebuffed a request for a loan of up to 10 million pounds ($12.11 million) from UK Nitrogen seeking to reopen one of Britain's last fertiliser plants.

- Some of Britain's largest industrial users of energy will warn ministers on Wednesday that sections of industry are at risk of closure this winter if there is a severe gas shortage and emergency measures to curb usage are introduced.

- The head of Germany's Bundesbank has warned it will be 'virtually impossible' to decide if a divergence of borrowing costs between eurozone countries is justified, arguing it would be 'fatal' for governments to rely on the European Central Bank's support.

($1 = 0.8256 pounds) (Compiled by Bengaluru newsroom)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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