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.

Friday newspaper round-up: Rishi Sunak, councils, Oracle

(Sharecast News) - Rishi Sunak has been appointed as a senior adviser by the US technology companies Microsoft and Anthropic. The former British prime minister's pair of new jobs emerged on Thursday in letters published by Westminster's office of the Advisory Committee on Business Appointments (Acoba). They add to his roles as a senior adviser to Goldman Sachs International, the investment bank, and speechmaker to investment firms including Bain Capital and Makena Capital in the US, which have netted him over £150,000 a talk. - Guardian A £7 furry bouncy ball with a face is tipped to be one of the must-have toys this Christmas, according to expert buyers at Hamleys. The Ty Bouncers - essentially fluffy tennis balls - range from cats, cows and monkeys to Spider-Man and Paddington. With 80 to collect, Victoria Kay, the head of buying and merchandising at Hamleys, said the bouncy soft toys offered "uncomplicated fun". - Guardian

Across the country, councils are cash-strapped. Many are desperately searching for ways to cut spending and balance the books in a bid to avoid catastrophe. Yet rather than get a helping hand from Westminster, they were dealt a fresh blow by Rachel Reeves in last year's Budget. The Chancellor took a gamble that local authorities could bear the costs of raising employers' National Insurance contributions (NICs) to 15pc and a sharp rise in the minimum. - Telegraph

Hackers have stolen tens of thousands of personal ID photos from a messaging app popular with children after hijacking a system used for online safety age checks. Discord, an app used by millions of teenage gamers, confirmed that 70,000 government ID images might have leaked after hackers broke into a customer service provider employed to verify if users are over 18. - Telegraph

The City regulator is watching the fallout from the collapse of First Brands and Tricolor in the United States amid investor nervousness that the failures point to broader strains in the wider multitrillion-dollar market for private assets. Both First Brands, a car parts supplier, and Tricolor, a subprime auto lender, went into bankruptcy last month and were deeply entwined with the private markets, a lightly regulated corner of the financial system that has grown rapidly in the past decade. - The Times

More than 100 companies have been hit by hackers targeting Oracle's suite of business products, Google's Threat Intelligence Group has revealed. Experts at the company have published an account of the attack, linking the hack to the Russian-speaking Clop group of cybercriminals who have been active since 2020. - The Times

Share this article

Related Sharecast Articles

Monday newspaper round-up: Water companies, asking prices, legal industry
(Sharecast News) - Water companies could be allowed to raise bills for customers during periods of drought under proposals being considered by the sector's regulator for England and Wales. Suppliers would be permitted to factor "water scarcity" into bills as part of efforts to reduce consumption under Ofwat's plans, which are being likened to surge pricing - the practice where private hire firms raise taxi fares at times of higher demand. - Guardian
Friday newspaper round-up: Elon Musk, Thames Water, Avant Homes
(Sharecast News) - Young people out of work or at risk of unemployment in the UK are to join "AI boot camps" where they harness the technology to get a foothold in the workplace. The government's latest attempt to address the crisis in Neets - young people not in work or education - involves turning to a technology that many view as a potential threat to employment. - Guardian
Thursday newspaper round-up: Greenland, Morrisons, Cisco Systems
(Sharecast News) - Greenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president's envoy that Americans could be extracting crude by next year. Amid Trump's imperialist threats, tensions have been rising on Greenland's eastern coast after the oil company brought drilling equipment ashore in July without permission, drawing a "strong warning" from the government. - Guardian
Wednesday newspaper round-up: Heatwaves, AI data centres, CoreWeave
(Sharecast News) - Repeated debilitating heatwaves this summer are likely to have cost the UK economy more than £4bn in lost economic output by the end of July, new analysis shows. Green thinktank Verdant had suggested June's unseasonally hot weather had an economic cost of £2.36bn. Updating its assessment to include last month's high temperatures, it finds a £4.4bn hit to output. - 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.