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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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Thursday newspaper round-up: JCB, M&S, smart meters
(Sharecast News) - The British digger maker JCB, owned by the billionaire Bamford family, continued to build and supply equipment for the Russian market months after saying it had stopped exports because of Vladimir Putin's invasion of Ukraine, the Guardian can reveal. Russian customs records show that JCB, whose owners are major donors to the Conservative party, continued to make new products available for Russian dealers well after 2 March 2022, when the company publicly stated that it had "voluntarily paused exports" to Russia. - Guardian
Wednesday newspaper round-up: Brexit border outages, Boeing, Stellantis
(Sharecast News) - Lorries carrying perishable food and plants from the EU are being held for up to 20 hours at the UK's busiest Brexit border post as failures with the government's IT systems delay imports entering Britain. Businesses have described the government's new border control checks as a "disaster" after IT outages led to lorries carrying meat, cheese and cut flowers being held for long periods, reducing the shelf life of their goods and prompting retailers to reject some orders. - Guardian
Tuesday newspaper round-up: Tesco, OpenAI, housebuilding
(Sharecast News) - Tesco is facing criticism from "shocked" charities who say they are struggling to distribute unwanted food to homeless and hungry people after they claim the retailer brought in rules that mean unwanted food can only be collected in the evening. The supermarket group has switched to a new system which asks charities to pick up unwanted food, such as items reaching their best before date, only in the evening when a store is closing rather than the following morning, the charities have claimed. - Guardian
Monday newspaper round-up: BT, ultra-long mortgages, Fever-Tree
(Sharecast News) - BT has said it is increasingly using artificial intelligence to help it detect and neutralise threats from hackers targeting business customers amid repeated attacks on companies. The £10.5bn group is aiming to build up its business protecting customers from online criminals and has patented technology that uses AI to analyse attack data to allow companies to protect their tech infrastructure. British businesses are routinely facing hacking attempts, and some recent high-profile victims have included including the outsourcer Capita, Royal Mail and British Airways. - 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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