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Tuesday newspaper round-up: Food prices, AI, Home Reit

(Sharecast News) - Food prices dropped in the UK in September for the first month in almost two years, according to retail industry figures, offering consumers some respite amid the cost of living crisis. The British Retail Consortium (BRC) said price reductions for dairy, margarine, fish and vegetables and fierce supermarket competition helped to bring down the cost of an average food basket by 0.1% compared with the previous month. - Guardian Employers who spy on staff have been threatened with fines by the privacy watchdog amid a rise in home working. The Information Commissioner's Office (ICO) has said it will "take action" against companies that conduct "excessive" monitoring of workers following an uptick in bosses tracking calls, messages and keystrokes since Covid. - Telegraph

Artificial intelligence will eventually enable people to live to 100 and work just three-and-a-half days a week, the boss of Wall Street's biggest bank has said. Jamie Dimon, chief executive of JP Morgan, made the forecast amid fears that generative AI technology could cause significant disruption to workplaces, with some even predicting that it poses an existential threat to humanity. - Telegraph

Further questions will be asked of the quality of Home Reit's tenants after the self-styled "landlord for the homeless" collected only 3 per cent of rent due last month. In a monthly update, the company also warned that it expected more of its tenants to go bust. - The Times

Rising costs hit annual profits at Walker's Shortbread, even as the family-owned biscuit manufacturer increased its sales at home and abroad last year. Growth was especially strong in Britain and the United States, with group turnover rising by 16 per cent to £164.6 million. Domestic sales increased by 23 per cent to £77 million, while exports rose by 10 per cent to £87.6 million, according to accounts filed for 2022. The company sells overseas in 100 markets. It also noted an uplift in travel retail sales as more passengers returned to airports. - 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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