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Wednesday newspaper round-up: Crypto trading, Capita, executive pay

(Sharecast News) - Britons have packed away enough possessions to fill Buckingham Palace more than 60 times over as the housing crisis, enduring consumerism and a sentimental reluctance to let go of inanimate objects means self-storage is now on the brink of becoming a £1bn-a-year business. Self-storage units are proving cheaper than renting or buying a bigger home and are springing up alongside new housing developments across the UK, with at least 280 more stores planned between now and 2026 - a more than 10% increase. - Guardian UK authorities should regulate cryptocurrency trading as a form of gambling rather than a financial service, parliament's Treasury committee has said after a fresh inquiry into the industry. The government must avoid wasting more taxpayer funds promoting tech innovations such as digital tokens, without demonstrating the clear benefits to the public, MPs said in a report published on Wednesday. - Guardian

Tech companies are in danger of unleashing a rogue artificial intelligence that will cause "significant harm to the world" without urgent intervention by governments, the creator of ChatGPT has admitted. Appearing before US politicians, OpenAI chief executive Sam Altman lauded the new generation of digital chatbots for their potential to "improve nearly every aspect of our lives". - Telegraph

Britain's biggest outsourcer has been lambasted for allowing the "unsafe storage of personal data" after it was hit by another data breach. It is understood Capita had placed a "bucket" or database with open source software and information in the cloud, including user guides and notes which are routinely published alongside software releases, but it also contained some personal data belonging to Colchester city council that should not have been there. - The Times

Executive pay in Britain must compete globally to attract talent for the financial sector, the City minister has said. At an event hosted by UK Finance, the industry trade body, in London yesterday, Andrew Griffith said: "Remuneration here needs to be competitive. We need to attract the brightest and best to these shores - the last thing we want to do is drive them away." - The Times

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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
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - 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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