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Thursday newspaper round-up: Scams, second-hand car sales, AstraZeneca

(Sharecast News) - Companies could face fines of up to $50m for failing to prevent scams and may be forced to compensate victims under new laws the Albanese government says would give Australians the strongest anti-scammer protection in the world. The government will introduce legislation to federal parliament on Thursday to establish its long-awaited "scams prevention framework". - Guardian About 1,000 London buildings including the Houses of Parliament and the National Gallery could soon be warmed by low-carbon heat sourced from the River Thames, London Underground and sewer networks. Plans to develop the UK's biggest heat network to supply decarbonised heat to buildings across Westminster were set out on Wednesday by the government as part of its pledge to back seven heat network zones with more than £5m of public funding. - Guardian

Second-hand car sales are climbing as cash-strapped consumers shun the new vehicle market. The number of used car transactions rose by 4.3pc from July to September compared to a year ago to reach 1.96m, according to the Society of Motor Manufacturers and Traders (SMMT). Of these, a record 53,423 were electric vehicles (EVs) - an increase of 57pc, or about 19,000. - Telegraph

Rachel Reeves has played down concerns around Donald Trump's expected wave of tariffs, as she vowed to strengthen Britain's trade links with the US. In comments made shortly after Mr Trump declared victory in the election, the Chancellor said she would fight to maintain "free and open trade" with America. In a signal that the Government is seeking ways to work with Mr Trump's tariff-driven economic agenda, Ms Reeves said she recognises how important it is to care about "where things are made, who makes them and who owns them". - Telegraph

The head of AstraZeneca's international business has been arrested in China and separately about 100 former employees have been sentenced for alleged insurance fraud in the FTSE 100 company's second-biggest market. Britain's biggest pharmaceuticals company released the information on Wednesday as it tried to calm investor fears after Chinese media reports of widening investigations by authorities triggered a renewed sell-off of its shares on the London Stock Exchange. - The Times

The government will force a Chinese tech company to sell its majority stake in a British chipmaker a year after The Times revealed that microchips it had sold to Russia were found in a tank destroyed in Ukraine. The Cabinet Office issued a "final order" yesterday under the National Security and Investment Act mandating that the Chinese state-owned holding company that acquired an 80.2 per cent stake in FTDI must sell it within a "specified period". - The Times

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Wednesday newspaper round-up: Aviva Investors, HSBC, car finance
(Sharecast News) - One of the UK's biggest pension funds has lost more than £350m on a series of "calamitous" investments in incinerator power plants that are expected to go bust in the coming days. The Guardian understands that Aviva Investors will put three incinerators into administration this week after pouring millions of pounds into what has been described as the country's "dirtiest form of power generation". - Guardian
Tuesday newspaper round-up: Starling Bank, Asos, Morrisons
(Sharecast News) - Staff have resigned at Starling Bank after its new chief executive demanded thousands of workers attend its offices more regularly, despite lacking enough space to host them. In his first major policy change since taking over from the UK digital bank's founder, Anne Boden, in March, Raman Bhatia has ordered all hybrid staff - many of whom were in the office only one or two days a week, or on an ad-hoc basis - to travel to work for a minimum of 10 days each month. - Guardian
Monday newspaper round-up: Energy bills, Black Friday, Lloyds Bank, Sephora
(Sharecast News) - Household energy bills across Great Britain are set to rise at the start of next year, analysts predict, putting more pressure on household finances. Officially, the price cap for January-March 2025 will be set on Friday morning by regulator Ofgem, limiting what energy providers can charge in England, Scotland and Wales. - Guardian
Sunday newspaper round-up: Kursk, AstraZeneca, BAE Systems
(Sharecast News) - America's President has authorised Ukraine to employ long-range ATACMS supplied by the US to strike targets inside Russia. More specifically, Kyiv will now be allowed to strike targets within the Kursk region, the New York Times reported. Speculation may increase that permission from Britain, the US and France to do the same with Storm Shadow missiles could follow. Joe Biden's decision is said to have been triggered by the appearance of North Korean troops in the Kursk region. - The Sunday Telegraph

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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