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Friday newspaper round-up: Netflix, Home Reit, FTX

(Sharecast News) - Netflix co-founder Reed Hastings, the entrepreneur who reshaped the media landscape and led the charge into streaming, announced he is stepping down as co-chief executive of the company on Thursday. Hastings, 62, co-founded the company in 1997 when Netflix delivered its subscribers movies on DVDs sent in the mail, will become chairman. Greg Peters, the company's chief product and chief operating officer, will join Ted Sarandos, chief content officer, as a co-chief executive. Sarandos was elevated to co-CEO in July 2020. - Guardian The US should not be "playing games" with the debt ceiling, the JP Morgan chief executive, Jamie Dimon, warned warring US political factions on Thursday as a heated row over the federal borrowing limit reached a crisis point. "We should never question the creditworthiness of the US government. That is sacrosanct and it should never happen," Dimon said on Thursday in an interview on CNBC. "This is not something we should be playing games with at all." - Guardian

The Government must lower taxes and remove red tape if it wants to drive long-term growth and "reach the sunlit uplands", Sir Martin Sorrell has said. Sir Martin, chief of advertising group S4 Capital, said Prime Minister Rishi Sunak had failed to set out a plan to grow the economy with policies that would encourage businesses like his to invest. - Telegraph

Home Reit, the embattled "landlord for the homeless", has had to delay its annual results for the second time, with its auditor demanding even more time to go through its accounts. The company's results for the year to the end of August were due to be published in late November. However, a few days earlier its business model and practices were attacked by a short-seller, plunging it into chaos. - The Times

The FTX boss, who was the liquidator to Enron, the fraudulent energy company, said he had set up a task force to explore restarting, the company's main international exchange, and was looking into whether reviving it would recover more value for customers than his team could get from simply liquidating assets or selling the platform, according to The Wall Street Journal. - 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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