Skip Header
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.

Wednesday newspaper round-up: AI laws, Microsoft, AstraZeneca

(Sharecast News) - Scammers were responsible for nearly 1.4m cases of fraud in the UK during the first half of 2023 - the equivalent of one every 12 seconds - with romance scams and ID theft among the fastest growing categories. Overall, criminals stole £580m in the first six months of the year, according to the banking trade association UK Finance, suggesting households are set to lose more than £1bn to fraudsters during 2023. - Guardian The EU is within "touching distance" of passing the world's first laws on artificial intelligence, giving Brussels the power to shut down services that cause harm to society, says the AI tsar who has spent the last four years developing the legislation. A forthcoming EU AI Act could introduce rules for everything from homemade chemical weapons made through AI to copyright theft of music, art and literature, with negotiations between MEPs, EU member states and the European Commission over final text coming to a head on Wednesday. - Guardian

The world is at a "tipping point" on debt that threatens to spark a global reckoning after years of government borrowing binges, the boss of HSBC has warned. Noel Quinn, chief executive of the bank, which is one of the world's biggest, said countries risked being "hit hard" after allowing borrowing to balloon in the wake of the financial crisis and pandemic. - Telegraph

Sales at Microsoft have surged as the technology giant cashes in on the artificial intelligence (AI) gold rush in a race against Silicon Valley rival Google. Revenues at Microsoft jumped 13pc to $56.5bn (£46.5bn) as boss Satya Nadella claimed the company was "making the age of AI real". The technology company has invested in ChatGPT-developer OpenAI and launched a series of AI-powered tools for its Office and Word products in recent months. - Telegraph

Sir Pascal Soriot has said it would be a failure of his leadership if AstraZeneca did not appoint an internal candidate to eventually succeed him, as he committed himself to leading the FTSE 100 drugs company for another five years. Soriot, 64, has overseen the transformation of AstraZeneca since he became chief executive in 2012, turning down a £69 billion takeover offer from Pfizer and transforming the Cambridge business into one of Britain's biggest public companies, valued at about £172 billion, after reviving its drugs pipeline. - The Times

Share this article

Related Sharecast Articles

Sunday share tips: PPHE, Keystone Law
(Sharecast News) - The Financial Mail on Sunday's Midas column labelled shares of PPHE an "attractive long-term buy" citing their valuation.
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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.