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Thursday newspaper round-up: Shell, Boohoo, Sam Bankman-Fried

(Sharecast News) - The former NatWest chief executive breached data protection laws when she spoke to a BBC journalist about the planned closure of Nigel Farage's bank accounts, the UK's information watchdog has ruled. An Information Commissioner's Office (ICO) report seen by the Guardian said that Alison Rose broke rules on two counts: first by revealing that Farage had a banking relationship with its private bank, Coutts; and secondly by providing "misleading information" that led the BBC to believe the bank was closing his accounts for purely commercial reasons, linked to his wealth. - Guardian Shell's new chief executive is poised to cut hundreds of jobs from the oil giant's low-carbon division as part a plan to boost the company's profits. Wael Sawan plans to shrink the number of staff working on low-carbon solutions by around 200 next year, after vowing to shift Shell's focus towards high-profit oil projects and expanding its gas business when he became chief executive in January. - Guardian

Sovereign wealth funds and local councils are among a group of investors plotting a £100m lawsuit against Boohoo after allegations of modern slavery wiped more than £1bn from the company's value. The fast fashion retailer is being targeted by City lawyers seeking compensation for shareholders who suffered losses after allegations of forced labour in Boohoo's factories came to light in 2020. - Telegraph

Qatar has backed a £400m refinancing of struggling Canary Wharf in its first significant UK deal since the terror attacks on Israel sparked criticism of its links to Hamas. Canary Wharf Group (CWG) secured hundreds of millions of pounds in extra financing from Qatar's sovereign wealth fund and its Canadian co-owner on Wednesday as the landlord struggles with high vacancy rates. - Telegraph

Sam Bankman-Fried plans to testify at his criminal fraud trial after his closest associates blamed the former billionaire for the collapse last November of his FTX cryptocurrency exchange. In a telephone conference on Wednesday with Lewis Kaplan, the judge who is overseeing the case in a federal court in Manhattan, Mark Cohen, Bankman-Fried's lawyer, said the defence planned to call three other witnesses to testify briefly after prosecutors finished presenting their case. "Our client is also going to be testifying," he said. - 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
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

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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