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Monday newspaper round-up: Leicester factories, Google, household spending

(Sharecast News) - More than half of the Leicester garment workers involved in a new study say they are paid below the minimum wage and receive no holiday pay, almost two years on from revelations about poor standards in the city's factories. The study was commissioned by a new body, the Garment and Textile Workers Trust, which is funded by online fashion retailer Boohoo, as part of efforts to clean up its act after revelations about poor practice in the group's Leicester supply chain. - Guardian The suspension of a Google engineer who claimed a computer chatbot he was working on had become sentient and was thinking and reasoning like a human being has put new scrutiny on the capacity of, and secrecy surrounding, the world of artificial intelligence (AI). The technology giant placed Blake Lemoine on leave last week after he published transcripts of conversations between himself, a Google "collaborator", and the company's LaMDA (language model for dialogue applications) chatbot development system. - Guardian

A shorter week with no loss of pay seemed like a great idea during the strains of lockdown, when Samantha Losey was working "soul-destroying" 80-hour weeks. But after her communications company Unity was picked out of 500 applicants to join the world's biggest four-day working week pilot, which kicked off last Monday, the managing director began to get cold feet. The agency had just had an influx of new clients, and Losey felt this might not be the best time to test out such a radical idea after all. - Telegraph

The work from home revolution has caused "permanent scarring" to the UK's high streets as staff continue to shun the office months after pandemic restrictions have ended, the boss of a data firm has warned. Diane Wehrle, chief executive of Springboard, which tracks shop visitor numbers across the country, said footfall in towns and cities still remains well below pre-pandemic levels. - Telegraph

British household spending will shrink next year, the CBI has warned, as it called on the government to take measures to stimulate business investment to prevent a wider economic downturn. The organisation's latest economic forecast slashes growth this year and next and predicts that household spending will turn negative next year as a result of surging inflation squeezing living standards. - The Times

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Wednesday newspaper round-up: Amazon, dividends, Weardale Lithium
(Sharecast News) - Amazon profits soared once again in the first quarter of 2024, the company announced on Tuesday - the latest in a series of robust earnings reports for the retail giant. The company attributed the boost to artificial intelligence and advertising sales. Amazon reported overall revenue of $143.3bn in the first three months of the year - up 13% from the same period in 2023 and surpassing Wall Street expectations of $142.65bn. The e-commerce giant reported an increase of more than 200% to $15bn, with net income more than tripling to $10.4bn from $3.17bn at the same time in 2023. - Guardian
Tuesday newspaper round-up: Meta, ExxonMobil, Very Group
(Sharecast News) - The Federal Communications Commission on Monday fined the largest US wireless carriers nearly $200m for illegally sharing access to customers' location information. The FCC is finalizing fines first proposed in February 2020, including $80m for T-Mobile; $12m for Sprint, which T-Mobile has since acquired; $57m for AT&T, and nearly $47m for Verizon. - Guardian
Monday newspaper round-up: Thames Water, Brexit, Babylon
(Sharecast News) - Senior Whitehall officials fear Thames Water's financial collapse could trigger a rise in government borrowing costs not seen since the chaos of the Liz Truss mini-budget, the Guardian can reveal. Such is their concern about the impact on wider borrowing costs for the UK, even beyond utilities and infrastructure, that they believe Thames should be renationalised before the general election. Officials in the Treasury and the UK's Debt Management Office fear that, unless the UK's biggest water company is renationalised as soon as possible, "prolonged uncertainty" about its fate could "damage confidence in UK plc at a sensitive time", with elections in the UK and the US later this year. - Guardian
Sunday share tips: Centrica, Lancashire Holdings
(Sharecast News) - The Sunday Times's Lucy Tobin told her readers to book their profits in Centrica and 'sell'.

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