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Monday newspaper round-up: Aviva, NatWest, CAB Payments

(Sharecast News) - A fashion industry push to reduce the environmental impact of the clothing it sells is being undermined by an ongoing addiction to buying new clothes, with the average Briton buying 28 items every year. Asos and Primark are among the big names signed up to Wrap's voluntary environmental pact, Textiles 2030. - Guardian Rishi Sunak will this week announce legislation for a new annual system for awarding oil and gas licences as part of a highly political king's speech which the Conservatives hope will open up clear dividing lines with Labour. The government said the plans would protect thousands of jobs and bolster energy security, reducing the UK's reliance on imports from hostile foreign regimes such as Russia, even though the UK has committed to move away from fossil fuels. - Guardian

Grant Shapps has warned Aviva against any "immoral" withdrawal of backing for defence companies, after a letter it sent to investors triggered a backlash from the Ministry of Defence. Aviva, which manages £221bn of assets including insurance and pension funds, told customers last week it would be selling out of "certain companies that do not meet our Aviva Baseline Exclusion Policy". - Telegraph

NatWest is to launch an artificial intelligence (AI) chatbot that it claims will provide more human interaction to customers after closing hundreds of bank branches in recent years. The bot, built using technology from IBM, will employ so-called "generative" AI technology, similar to that of ChatGPT, which can hold human-like conversations with customers looking for information about the bank. - Telegraph

Shareholders in CAB Payments have called on regulators to investigate whether the prospectus for one of London's biggest stock market flops this year misled investors. The initial public offering of CAB, promoted by JPMorgan and Barclays, has come under scrutiny after the company issued a profit warning four months after floating. The FTSE 250 foreign exchange firm, which specialises in processing payments to and from developing nations, floated in July with a valuation of £851 million, raising £335 million. It was London's largest conventional IPO this year. Its market capitalisation has since collapsed to only £173 million, making it the world's worst performing IPO this year, data from Bloomberg shows. - The Times

Dominic Chappell, who became engulfed in the BHS scandal, has been released from prison after serving half of his six-year sentence for evading tax. Chappell, 56, was released on parole from Guys Marsh prison in Dorset on Friday. BHS collapsed into administration in April 2016 just over a year after Sir Philip Green sold the chain for £1 to a consortium led by Chappell. - 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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