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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Thursday newspaper round-up: Gambling reform, Three Arrows Capital, Ocado

(Sharecast News) - Ministers' plans for reforming Britain's gambling laws were in disarray on Wednesday as a rift emerged at the top of the Conservative party over whether to ban football shirt sponsorship and impose a levy to fund addiction services. Multiple sources said the process of putting the finishing touches to a white paper on gambling reform had driven a wedge between departments and senior MPs, with the publication deadline just weeks away. - Guardian The government's failure to tackle Russian kleptocrats laundering "dirty money" through the UK has led millions of pounds used to finance Putin's invasion of Ukraine to flow through London, a powerful committee of MPs has warned. The commons foreign affairs committee said ministers' complacency over "morally bankrupt billionaires using the UK as a safe deposit box" had led to "assets laundered through the UK ... financing President Putin's war in Ukraine". - Guardian

Criminals are using deepfake video technology and stolen personal data to impersonate real people and apply for remote working jobs in the tech industry, the FBI has warned. The US law enforcement agency said it had received complaints about "voice spoofing" taking place during video interviews for remote workers, with the jobs being used to steal private information from corporate databases. - Telegraph

A cryptocurrency hedge fund set up by two former investment bankers has collapsed owing more than half a billion dollars. Three Arrows Capital entered liquidation on Wednesday after a British Virgin Islands court ruled in favour of creditors seeking repayment of debts. Shortly before its demise, the hedge fund had defaulted on a $674m loan, triggering creditors to seek its liquidation. - Telegraph

A City lawyer with 25 years' experience, who ordered a client to "burn" a secure messaging system, told a judge he was unaware of the need to preserve evidence. Raymond McKeeve, formerly a partner at the law firm Jones Day, faces jail for contempt of court for advising an IT manager at a company set up by Jonathan Faiman, one of the founders of Ocado, to destroy messages to avoid them being handed over as part of a corporate espionage investigation. - The Times

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Sunday newspaper round-up: Middle East, Aston Martin, Defence
(Sharecast News) - Britons must accept that their country was now involved in the Middle East conflict, Tobias Ellwood said. The former defence minister warned that "nobody was in full control" of the growing conflict as more and more countries were sucked in. Ellwood also said that Tehran's strike had taken the conflict into a "new dangerous territory". - Sunday Telegraph
Friday newspaper round-up: Everton, AstraZeneca, Amazon
(Sharecast News) - Everton has paid about £30m in interest charges to an opaque lender associated with a tax exile, corporate records suggest. The charges appear to have reached about £438,000 a week, according to the troubled Premier League club's most recent set of accounts, a figure more than three times the reported wages of the Everton and England goalkeeper Jordan Pickford. - Guardian
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

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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