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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.

Wednesday newspaper round-up: Tideway, cyclists, corporate insolvencies

(Sharecast News) - The executive overseeing construction of London's "super sewer" under the Thames has been awarded bonuses that doubled his pay to nearly £1m despite delays and cost over-runs on the flagship project. With executive pay in the water industry already under scrutiny, Tideway has revealed it paid its chief executive, Andy Mitchell, a total package of £928,000 for the year to 31 March 2022, up 7.5% from £863,000 a year earlier. - Guardian Bikes could be made to have registration plates and insurance as ministers weigh up bringing speed limits for cyclists into line with those for drivers. The government is also considering the possibility of cyclists receiving licence penalty points and fines if they break speed limits or run red lights, the Daily Mail reported. - Guardian

Germany plans to keep its remaining nuclear power plants open for longer in a major U-turn as it scrambles to keep the lights on this winter with less Russian gas. Officials have concluded the plants are needed due to gas shortages and they can be kept open without safety concerns, the Wall Street Journal reported. - Telegraph

The world's biggest airline has announced a deal to buy a fleet of new high-tech jets dubbed the "son of Concorde", setting up the return of supersonic transatlantic flights by the end of the decade. American Airlines on Tuesday agreed to purchase up to 20 Overture aircraft from Boom Supersonic, with an option to extend the order to 40. - Telegraph

Corporate insolvencies rose by 7.5 per cent last month compared with June and were 27 per cent higher than they were three years ago, before the pandemic struck. The Insolvency Service said yesterday that there had been 1,827 company insolvencies in England and Wales last month, 67 per cent higher than a year ago. - The Times

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(Sharecast News) - The $1m-a-day voter sweepstakes that Elon Musk's political action committee is hosting in swing states can continue through Tuesday's presidential election, a Pennsylvania judge ruled on Monday. The common pleas court judge Angelo Foglietta - ruling after Musk's lawyers said the winners are not chosen by chance - did not immediately give a reason for the ruling. - Guardian
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(Sharecast News) - Fraudsters may have stolen £500,000 from a taxpayer-funded scheme aimed at accelerating the removal of dangerous cladding from buildings, the public spending watchdog has revealed. The National Audit Office said the government decision to prioritise speed in handing out money to building owners had increased its risk of losses from fraud. The warning came in an NAO report into the government's progress in remediating dangerous cladding from blocks after the Grenfell Tower fire in 2017. - Guardian
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(Sharecast News) - Striking Boeing workers will vote on an improved contract offer on Monday, which includes a 38% pay rise over four years and a bigger signing bonus, their union said on Thursday. More than 30,000 factory workers who produce Boeing's strongest-selling 737 Max commercial jet and other planes have been on strike since 13 September and have rejected two earlier offers from Boeing. - Guardian
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(Sharecast News) - The former cryptocurrency executive Nishad Singh, who once shared a $35m Bahamas penthouse with the FTX founder, Sam Bankman-Fried, was spared prison time by a judge on Wednesday for his role in the theft by his imprisoned former boss of about $8bn in customer funds from the now bankrupt exchange. The United States district judge Lewis Kaplan imposed the sentence during a hearing in Manhattan federal court. - 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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