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Thursday newspaper round-up: Gambling, Amazon, John Lewis

(Sharecast News) - More than 420,000 British gamblers lose at least £2,000 a year, according to a major report that warns losses on the most addictive products are "strongly skewed" towards deprived areas. The report lays bare the punishing losses incurred by the heaviest gamblers and raises "concern" at the low level of intervention by gambling companies to prevent them suffering harm. - Guardian Amazon shoppers in Britain can now add high-fashion purchases, such as a four-figure Peter Dundas evening gown or a Christopher Kane slingback heel, to their digital shopping baskets. The world's largest online retailer has launched its Luxury Stores at Amazon division in the UK, France, Germany, Italy and Spain, having opened a US version in 2020. - Guardian

A low-profile fund manager who made an investment return of more than 10,000pc is stepping down after 39 years. Simon Knott, who has managed the Rights & Issues investment trust since 1984, will step down as its investment manager on September 1. He will remain as a non-executive director. - Telegraph

John Lewis is targeting suburban locations and commuter towns in the South East as it pushes ahead with plans to build 10,000 rental homes despite warnings that the property market is cooling. The John Lewis Partnership, which also owns Waitrose, said it will build accommodation over supermarkets in Bromley and West Ealing in Greater London, as well as replacing a vacant John Lewis warehouse in Mill Lane, Reading. - Telegraph

Top Gun: Maverick has become the UK's top-grossing film at the box office less than two weeks after opening, displacing Doctor Strange in the Multiverse of Madness. Takings of the film, in which Tom Cruise reprises the role of the US Navy aviator Pete "Maverick" Mitchell he played in 1986, reached £41.3 million on Monday, just £388,000 ahead of Doctor Strange. - The Times

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Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - Guardian
Sunday newspaper round-up: Etihad float, Shein, Thames Water
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Friday newspaper round-up: Gambling sector, FOS, Amazon
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - 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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