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Thursday newspaper round-up: City AM, motor industry, Freshfields

(Sharecast News) - Lawyers for the British billionaire Joe Lewis have accused prosecutors of making an "egregious" mistake, as the 86-year-old pleaded not guilty to multiple counts of securities fraud and conspiracy. Lewis, who heads the family that owns Tottenham Hotspur FC, was arraigned on Tuesday in Manhattan federal court with 16 counts of securities fraud and three of conspiracy to commit fraud, which prosecutors called a "brazen" insider trading scheme to enrich his friends, lovers and employees, including two private jet pilots. - Guardian City AM, the free London-based business newspaper, has been sold to THG, the online health and beauty retail platform run by the multimillionaire businessman Matthew Moulding. The 18-year-old freesheet, which had been on the brink of collapsing into administration, announced on Wednesday that it had been bought by THG for an undisclosed sum. - Guardian

The chief executive of Lloyds Banking Group has said he is in no rush to sell The Telegraph after seizing control from the Barclay family in a dispute over debts secured against the business. Charlie Nunn, the lender's chief executive, made Lloyds' first public comments on the situation since he sent in receivers and ousted Barclay family representatives from the board of The Telegraph last month. - Telegraph

The British motor industry is back in business, the Society of Motor Manufacturers and Traders claimed yesterday, after Tata's commitment to invest £4 billion in an electric car battery "gigafactory" and with new figures set to show an 11 per cent rebound in vehicle production. The industry body will release assembly line data today that suggests 860,000 vehicles will be produced in Britain in 2023, an improvement of 85,000 on last year. However, the industry is coming back from a bad place. Last year's production numbers of 775,000 were the worst since 1956. - The Times

Partners at Freshfields have edged out "magic circle" rivals to top the City law firm earnings table with average pay of £2.09 million. Pay for full equity partners at the firm inched up last year by 1 per cent, enough to nudge ahead of Clifford Chance, which recently unveiled average partner pay of £2 million. - The Times

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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
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - 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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