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Wednesday newspaper round-up: AI, Tesla, hydrogen, Odey

(Sharecast News) - The head of the UK's financial regulator is to warn that banks, investors and insurers will have to ramp up their spending to combat scammers using artificial intelligence to commit fraud. Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA), will say that there are risks of "cyber fraud, cyber-attacks and identity fraud increasing in scale and sophistication and effectiveness" as artificial intelligence (AI) becomes more widespread, in a speech in London on Wednesday. - Guardian A US judge has ruled that Microsoft may go forward with its planned $69bn acquisition of video game maker Activision Blizzard, while the UK competition watchdog said it was ready to discuss changes answering its concerns over the deal. The US competition watchdog, the Federal Trade Commission (FTC), had originally asked the judge to stop the proposed deal, arguing it would give Microsoft, maker of the Xbox gaming console, exclusive access to Activision games including the bestselling Call of Duty. - Guardian

Elon Musk's Tesla is poised to gatecrash Britain's energy market by selling electricity to households. Tesla is developing plans to register as an electricity provider with the industry regulator and launch a "retail electricity product in the UK", a job listing has revealed. - Telegraph

Plans to use hydrogen for heating and cooking in up to 2,000 homes in Cheshire have been scrapped after opposition from residents. Cadent, the gas network company, and British Gas, the household energy supplier, hoped to convert part of Whitby in Ellesmere Port into a world-first "hydrogen village" trial as they attempt to prove that the clean-burning fuel can be used as a replacement for planet-warming natural gas. - The Times

The City regulator has been urged to ensure that Odey Asset Management retains assets in the event that the hedge fund has to cover any redress to women who allege they were sexually assaulted by the firm's founder. Jill Greenfield, a lawyer representing two women who claim they were assaulted by Crispin Odey, has written to the Financial Conduct Authority to ask the watchdog to ringfence funds that might be needed if litigation results in damages being awarded. - 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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