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Thursday newspaper round-up: Online casinos, Meta, PwC, Teck Resources

(Sharecast News) - Britain's poor record on health is costing the economy £43bn a year and cutting the annual incomes of individuals affected by long-term sickness by up to £2,200 a year on average, a report says. With official figures showing more days lost to sickness than at any time since 2004, the Institute for Public Policy Research said improving the country's health was vital both for the economy and to boost the incomes of disadvantaged groups. - Guardian Online casinos will face tougher restrictions under government proposals to overhaul Britain's gambling laws, but the majority of measures will be subject to further consultation, signalling even more delay to long-awaited changes. A white paper, the result of a review launched in 2020, is due to be published on Thursday, after being postponed multiple times. - Guardian

Shares in Facebook's parent company Meta soared last night as it broke a losing streak to post its first rise in sales in a year. The social media giant reported a 3pc increase in quarterly revenues to $28.6bn (£23bn), shrugging off Wall Street projections that it would post a fourth straight drop in revenue. - Telegraph

Demand for inflation-protected government bonds has hit a record high in a sign that investors are sceptical of the Bank of England pledge that falling inflation is "pretty much guaranteed". A sale of inflation-linked gilts on Wednesday was more than ten times oversubscribed as pension funds and other long-term investors rushed to buy the products. - Telegraph

PwC has become the latest business to turn to artificial intelligence, announcing plans to invest $1 billion in the technology to automate parts of its audit, tax and consulting services in its American business over the next three years. The Big Four accountant will work with the Microsoft-backed OpenAI, the creator of ChatGPT, to develop generative AI that can make it more efficient. - The Times

The Canadian miner being targeted by Glencore has cancelled a shareholder vote on plans to split itself in two in a move that enables the FTSE 100 commodities group to continue its $23 billion takeover pursuit. Teck Resources had been seeking shareholder approval to spin off its steelmaking coal business and had flatly rejected a rival proposal from Glencore instead to merge the two companies and then demerge their combined coal businesses. - 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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