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Thursday newspaper round-up: Brexit, Pret A Manger, THG

(Sharecast News) - Rishi Sunak is under growing pressure to offer more help to older workers who have fallen out of the workforce due to ill health, as official figures show a sharp increase in the rates of long-term sickness in every region of the UK except London. Highlighting deep regional divisions, figures from the Office for National Statistics show economic inactivity due to long-term sickness has increased most among 50 to 64-year-olds outside the capital since the Covid pandemic. - Guardian More than three-quarters of firms say the government's post-Brexit trade deal with the EU has not helped them to expand their business in the last two years despite promises that it was an "oven-ready" deal. A survey by the British Chambers of Commerce (BCC) has prompted the business lobby group to present the government with five urgent recommendations for enhancing the agreement, which has left many exporters struggling to sell into the EU under the current terms. - Guardian

Pret A Manger is axing almost all of its vegetarian-only stores as the novelty of meat-free branches wears off. The sandwich chain is to shut or rebrand 75pc of its Veggie Pret stores six years after they first launched. - Telegraph

Sir Tom Hunter, the billionaire investor and philanthropist, has reaffirmed his commitment to THG, insisting that Matt Moulding's struggling beauty-to-nutrition retailer has been a "a real success story" (Greig Cameron writes). Hunter, 61, has had a business relationship with Moulding, 50, since 2009 and been a vocal supporter even as THG - formerly The Hut Group - has stumbled. - The Times

Sharan Pasricha, the wealthy entrepreneur behind Gleneagles and the trendy Hoxton hotel chain, has collected an estimated €260 million by selling the underlying assets of the hotels in Amsterdam and Paris. The near €1 million per room paid by Schroders, the buyer of the two properties, is thought to be the biggest per-room price ever paid in Europe for a hotel without suites. - The Times

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(Sharecast News) - The AI model Claude has surged in popularity after being blacklisted by the Pentagon last week over ethics concerns. Claude climbed to the No 1 spot on Apple's chart of top free apps on Saturday in the US - dethroning OpenAI's ChatGPT, just one day after the Pentagon tapped OpenAI to supply AI to classified military networks. The bot's app climbed the iPhone app charts in the UK but did not beat out ChatGPT. Claude also raced up the Android charts in the US and UK, though ChatGPT reigned supreme, according to data from Sensor Tower. - Guardian
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(Sharecast News) - Rachel Reeves must reform the Office for Budget Responsibility (OBR) to open the way to more public investment, an alliance of thinktanks has argued ahead of the chancellor's spring forecast on Tuesday. With Keir Starmer's government under intense pressure after Labour's defeat by the Greens in Thursday's Gorton and Denton byelection, the thinktanks called on Reeves to review the watchdog's remit. - Guardian
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(Sharecast News) - Peter Mandelson is facing an inquiry by the EU's anti-fraud agency after the European Commission requested the body look into his activities during his time as trade commissioner in Brussels. The commission said it referred the peer, 72, to the European Anti-Fraud Office, known as Olaf, last week after the US Department of Justice released documents allegedly showing he shared sensitive government information with sex offender Jeffrey Epstein. - Guardian
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(Sharecast News) - A French utility has agreed to buy the owner of the electricity cables and power lines across London, the south-east and the east of England in a deal worth £10.5bn. Paris-headquartered Engie said on Wednesday that it had struck a deal to buy UK Power Networks (UKPN) in a "major milestone" for the company's ambition to become the "best energy transition utility". - 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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