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Thursday newspaper round-up: Energy costs, Sainsbury's, ChatGPT

(Sharecast News) - Ministers have moved to level the playing field on energy costs between British manufacturers and their European competitors after years of concerns that domestic firms faced an unfair disadvantage. The "British Industry Supercharger" scheme aims to improve conditions for 300 companies - employing 400,000 workers - in sectors including steel, metals, chemicals and paper manufacturing. - Guardian Jeremy Hunt will send Britain in a "drastically anti-investment direction" if he forges ahead with a planned increase in corporation tax, BT has warned. The telecoms giant said the country was hurtling towards a "cliff edge deterioration in the tax environment for investment" ahead of an increase in the tax rate in April from 19pc to 25pc. - Telegraph

Britain is turning to a billionaire Czech energy tycoon to avoid winter power cuts by giving him the go-ahead to build a vast battery plant in Yorkshire. EPH, owned by Daniel Křetínský, the businessman who has investments in Royal Mail, Sainsbury's and West Ham United, has won lucrative 15-year contracts from National Grid's electricity system operator to provide power to the grid when back-up supplies are needed. - Telegraph

Sainsbury's has been running a trial for a new scheme that allows its employees to work a four-day week. Staff at the grocer's head offices in Holborn, Coventry and Milton Keynes, as well as its warehouses, and store managers in its 1,400 UK shops are all taking part in the experiment, which is due to last three months. - The Times

City institutions including JP Morgan and KPMG are blocking the use of ChatGPT while others are instructing their teams to be cautious with how they use the technology because of privacy concerns. Accenture has told staff to make sure they use it "responsibly" and another leading accountancy firm has instructed employees to check with their managers if and how they plan to use it. UK Finance, the industry group for banking and finance, confirmed that it was discussing the topic with its members. KPMG UK has asked its staff not to use ChatGPT in order "to ensure information protection and risk management." - The Times

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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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