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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.

Tuesday newspaper round-up: Tesla, Robinhood, finfluencers

(Sharecast News) - Tesla Inc's directors will return $735m to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla stock and challenged stock options that were granted to Tesla directors starting in June 2017. - Guardian Robinhood, the share trading app behind a controversial new wave of stock market speculation in the US, is preparing to target British investors. The New York-listed company, which does not charge commission and supercharged the craze for buying and selling "meme stocks" during the pandemic, has begun hiring for key UK roles. - Telegraph

South East Water has paid out a multimillion-pound dividend despite being tipped into a £74m pre-tax loss by a sharp increase in the cost of its debt pile. The company, which last month left thousands without water and implemented a hosepipe ban, paid £9m to shareholders even as it faced a £50m jump in borrowing costs, its annual report revealed. - Telegraph

The City watchdog is intensifying its crackdown on "finfluencers" as part of a wider overhaul after an explosion in social media adverts such as memes and TikTok videos used to promote financial products. The Financial Conduct Authority is revamping its guidance amid rapid changes in the marketing of financial services, with companies increasingly using social media platforms to promote their products, while online influencers are becoming widespread, spurring worries that consumers are facing increasing risks. - The Times

Supply problems have put the skids under Lotus Cars, with pre-tax losses rising to £141.1 million following a slump in the number of cars it could deliver. The Norfolk-based sports carmaker sold only 576 cars in 2022, compared with 1,566 in the previous year, due to "production challenges", its latest accounts show. - 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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