Skip Header
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.

Tuesday newspaper round-up: Gambling customers, student loan repayments, Russian bankruptcies

(Sharecast News) - The Scottish government is about to consider a sweeping moratorium on building new datacentres, putting a key plank of the UK's AI strategy at risk. Last Sunday the Scottish National party (SNP)'s national council passed a motion to freeze all new datacentres in Scotland. That motion has been sent to the Scottish government to consider. It could apply to all datacentre projects that have not yet received planning permission - although its exact implementation is up to the Scottish government to decide. - Guardian Slideshows that compared student loan repayments with the cost of a mobile phone contract, and YouTube videos that did not mention the fact that loan terms could change amounted to mis-selling by the government, MPs have said. The chancellor, Rachel Reeves, caused a furore last year when she announced that the repayment threshold on plan 2 student loans would be frozen at £29,385 for three years from April 2027. - Guardian

Labour is set to forge ahead with financial checks on gambling customers who suffer heavy losses, setting up a clash with bookmakers who oppose the move. The Gambling Commission is expected to confirm proposals on Tuesday morning to introduce financial risk assessments on online gamblers who lose large sums, including those spending more than £1,000 in a single day. - Telegraph

Half a million Russians went bankrupt last year as Vladimir Putin risks an "explosive" banking crisis, an intelligence report has warned. Deteriorating business loans and growing household debt mean Russia is moving closer to a potential financial meltdown, according to a document prepared for European officials before a new round of sanctions. - Telegraph

The billions of pounds lost on personal protection equipment during the pandemic had more to do with a "monumental failure of government" than it did fraud, error or cronyism, the government's counter-fraud commissioner has said. Tom Hayhoe, a former chairman of West Middlesex University hospital and the West London NHS Trust, told MPs on the Commons public accounts committee that the "fundamental" fault behind the near-£11 billion worth of PPE bought during Covid that proved unusable or overpriced was the "uncritical way in which procurement was being done". - The Times

Share this article

Related Sharecast Articles

Monday newspaper round-up: Affordable housing, mobile coverage, unemployment
(Sharecast News) - Half of all affordable housing supply in rural England could be under threat under plans being considered by ministers to relax regulations for private housing developers, according to analysis. The government has proposed ending affordable housing quotas - known as section 106 agreements - for new developments of between 10 and 49 houses in an effort to jumpstart sluggish housebuilding rates. Ministers are due to make a final decision within weeks on whether developers should be allowed to make cash payments to local authorities instead. - Guardian
Friday newspaper round-up: Ineos, EG Group, Hill Group
(Sharecast News) - The boss of Currys has said supplies of air conditioning and fans are "tight" ahead of another UK heatwave, expected next week, after a boom in sales sent retailers scrambling to source new stock. Alex Baldock, chief executive of the electrical goods retailer, said cooling kit had been "flying off the shelves" during June's record heat in England. Sales of fans were up nearly 3,000% over the most recent heatwave weekend compared with a week earlier, while air conditioning sales increased 330%. - Guardian
Thursday newspaper round-up: EU car industry, Getty Images-Shutterstock, United Utilities
(Sharecast News) - The EU's car industry has called for the UK to be fully included in new "made in Europe" rules that threaten to shut out British manufacturers from their biggest export market. The European Automobile Manufacturers Association (Acea) on Wednesday urged Brussels to give the UK, Turkey and Morocco "justified, targeted exemptions" to the rules, which will require cars and parts to be made within the EU to qualify for subsidies or public procurement. - 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.