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Thursday newspaper round-up: Airlines, Country Garden, car production

(Sharecast News) - Airlines have urged reform of compensation rules after the "staggering" revelation that a single wrongly input flight plan to UK air traffic control disrupted hundreds of thousands of passengers' flights. Nats, which controls UK airspace, said "an unusual piece of data" had caused the unprecedented system failure on Monday, which led to more than 1,600 flights being axed and many more delayed. - Guardian Embattled Chinese developer Country Garden reported a 48.9bn yuan ($6.7bn) loss for the first half of the year in a stock exchange filing on Wednesday, adding to worries of a potentially catastrophic default. Its tenuous state has sparked fears of a collapse that could have far-reaching consequences for the Chinese financial system two years after the fall of Evergrande. - Guardian

More electric vehicles are being made by manufacturers than drivers want, one of Britain's biggest car dealerships has said. Vertu Motors, which trades under brands including Bristol Street Motors, said supply of new and used electric models is outstripping demand, forcing manufacturers to slash prices in an effort to shift stock. - Telegraph

The bucolic setting of Bletchley Park, the home of British codebreaking operations during the Second World War, is a fitting backdrop to Rishi Sunak's ambitions to address a new threat: AI. In two months, the Buckinghamshire country estate will host the Prime Minister's AI Safety Summit, a first of its kind international effort to ensure that the risks of rapidly improving artificial intelligence are addressed. - Telegraph

Car production increased by almost a third last month compared with a year ago, new figures show. The number of cars coming off British assembly lines in July rose 31 per cent, taking factory output in the first seven months of the year to 526,000, up 14 per cent year-on-year. - The Times

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Thursday newspaper round-up: Thames Water, mortgage costs, UK car production
(Sharecast News) - Thames Water has breached its licence to supply water to nearly 16 million people after some of its debt was downgraded to junk status. The regulator Ofwat could now fine Thames, the country's largest water monopoly, up to 10% of its annual turnover, equating to hundreds of millions of pounds. However, since the company is already teetering close to temporary renationalisation, Ofwat is likely to hold off on any immediate large fines. - Guardian
Wednesday newspaper round-up: Reckitt, Tesla, Virgin Atlantic...
(Sharecast News) - Reckitt is under pressure from top shareholders to revisit a sale of its nutrition business, following litigation and a series of other setbacks at the division that have sent the company's share price to decade lows. The FTSE 100 consumer giant acquired the Mead Johnson infant formula business in 2017 for $17bn - its largest-ever acquisition - and it has been plagued by mishaps ever since. Meanwhile, the wider group, which makes Lysol detergent and Durex condoms, has underwhelmed investors as it struggles to build back sales volumes following a period of high inflation and suppressed consumer demand. - Financial Times
Tuesday newspaper round-up: Kamala Harris, Crowdstrike, Vivendi...
(Sharecast News) - Kamala Harris has secured enough delegates from her party to clinch the Democratic presidential nomination, as she pledged to offer Americans a "brighter future" compared to the "chaos, fear and hate" proposed by Donald Trump. The US vice-president was speaking in Wilmington, Delaware, on Monday, the first full day since President Joe Biden dropped his re-election bid and endorsed her for the Democratic presidential nomination, shaking up the 2024 race for the White House. - Financial Times
Monday newspaper round-up: Biden, gambling levy, UK economy...
(Sharecast News) - Kamala Harris, the vice-president, has emerged as the frontrunner to replace President Biden as the Democratic nominee for the election against Donald Trump in November. Biden, 81, announced yesterday afternoon that he would drop out of the race. In the hours that followed, Harris, 59, was endorsed by leading Democrats, prospective rivals and the chairs of all 50 state parties. - The Times

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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