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Wednesday newspaper round-up: AI, CBI, US government debt

(Sharecast News) - Almost 8 million UK jobs could be lost to artificial intelligence in a "jobs apocalypse", according to a report warning that women, younger workers and those on lower wages are at most risk from automation. The Institute for Public Policy Research (IPPR) said that entry level, part-time and administrative jobs were most exposed to being replaced by AI under a "worst-case scenario" for the rollout of new technologies in the next three to five years. - Guardian The CBI has used gagging clauses to prevent staff from discussing their experiences of sexual misconduct and bullying at the organisation, the Guardian can reveal. Up to 10 non-disclosure agreements (NDAs) have been signed in the past year after the lobbying group's sexual misconduct scandal, in which more than a dozen staff alleged they had been victims of sexual harassment, assault and rape. Those agreements have been accompanied by substantial financial settlements from the CBI. - Guardian

Europe plans to build enough new gas power stations to supply 60 million homes despite a target of decarbonising electricity grids by the middle of the 2030s. About 72 gigawatts-worth of new gas-fired power stations are planned across the Continent, according to a report from pressure group Beyond Fossil Fuels. Gas power capacity across the Continent is on track to rise by 27pc under current proposals, despite a promise among G7 nations to decarbonise electricity grids by 2035. - Telegraph

The boss of the world's biggest investment group has warned that "snowballing" US government debt has reached "very dangerous" levels. Larry Fink, the chairman and chief executive of BlackRock, raised the alarm in his annual letter to investors, saying that "in America, the situation is more urgent than I can ever remember". - The Times

Two Nottingham-based entrepreneurs have banked more than £100 million after they sold their graphic design software company to Canva, of Australia, in a deal worth "several hundred million pounds". Gary Bates, 54, and Jim Bryce, 59, owned about two thirds of Serif, which is known for its Affinity range of software for professional designers. - The Times

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(Sharecast News) - A Labour government would aim to announce the sites for a series of new towns within a year of taking office, with the promise that homes would be built in them by the end of a first term, Angela Rayner is to say in a speech. Giving more detail to a plan first outlined in Keir Starmer's party conference speech in October, Rayner will tell a housing conference that Labour will strongly support private developers who create high-quality and affordable housing. - Guardian
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(Sharecast News) - Post-Brexit border checks will cost UK businesses £470m a year, the government's public spending watchdog has said. Plans to bring in border checks on goods coming from the EU faced "significant issues" including critical shortages of inspectors before their introduction last month, the National Audit Office said in a report. - 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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