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Friday newspaper round-up: HS2, BP, flotations

(Sharecast News) - The HS2 high-speed rail line is at risk of further cuts to its route north of Birmingham as the government considers whether it can afford high-cost projects in advance of the autumn budget. The project has been mired in fresh uncertainty after the prime minister's spokesperson refused to guarantee on Thursday it would run to Manchester, after publication of a photographed document suggesting further cuts were under discussion. - Guardian The BP chairman, Helge Lund, has started the hunt for a new boss to replace Bernard Looney, which could lead to the oil giant's first external chief executive hire for decades. The chairman told BP staff in a webcast on Wednesday that he had begun the process of appointing a new chief executive and would consider hiring company outsiders to the role. - Guardian

A Court of Appeal judge has called ChatGPT "jolly useful" after he used the artificial intelligence chatbot to write part of a ruling. Lord Justice Birss, who specialises in intellectual property law, said he had used the text generation tool to summarise an area of law he was familiar with before copy and pasting its words into a court ruling. - Telegraph

Almost half of the £1.6 billion in state-backed pandemic loans provided by Starling Bank is either overdue or has effectively been written off, official figures show. An analysis of £1.41 billion worth of bounceback loans issued by Starling shows that at least £761 million is in arrears, default or has already been claimed back from the government. - The Times

The Arm flotation has breathed life back into a moribund global market for IPOs. Its performance over the coming weeks will determine the extent to which the trickle becomes a flood. Company flotations in 2022, both in tech and beyond, dried up as businesses marked time waiting for market conditions to improve. - The Times

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Sunday newspaper round-up: Middle East, Aston Martin, Defence
(Sharecast News) - Britons must accept that their country was now involved in the Middle East conflict, Tobias Ellwood said. The former defence minister warned that "nobody was in full control" of the growing conflict as more and more countries were sucked in. Ellwood also said that Tehran's strike had taken the conflict into a "new dangerous territory". - Sunday Telegraph
Friday newspaper round-up: Everton, AstraZeneca, Amazon
(Sharecast News) - Everton has paid about £30m in interest charges to an opaque lender associated with a tax exile, corporate records suggest. The charges appear to have reached about £438,000 a week, according to the troubled Premier League club's most recent set of accounts, a figure more than three times the reported wages of the Everton and England goalkeeper Jordan Pickford. - Guardian
Thursday newspaper round-up: Border controls, McKinsey, KPMG
(Sharecast News) - New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson's Brexit deal could add 10% to import costs over the first year. - Guardian
Wednesday newspaper round-up: Shoplifting, EnQuest, Klarna
(Sharecast News) - The government is investing more than £55m in expanding facial recognition systems - including vans that will scan crowded high streets - as part of a renewed crackdown on shoplifting. The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being forced to wear a tag to ensure they do not revisit the scene of their crime, under a new standalone criminal offence of assaulting a retail worker. - 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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