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Tuesday newspaper round-up: Amazon, Nvidia, Harland & Wolff

(Sharecast News) - The UK has given more than £12.5bn from energy bills to fossil fuel power plants in the past decade through a government scheme to keep the lights on during winter, according to new analysis. The research found that, since 2015, the government has offered contracts worth £20bn through a "capacity market" to create a backup reserve of generators on standby, of which about 60% were fossil fuel power plants and a quarter were energy storage and power cable projects. - Guardian Amazon is seeking permission to launch drones from its warehouse in Darlington, County Durham, in the latest step towards using the devices to deliver packages to homes. The technology company is to hold a public meeting with local people next week as it seeks permission from the Civil Aviation Authority (CAA) to use the airspace around its warehouse on the edge of the town, in the north-east of England. - Guardian

US chipmaker Nvidia has suffered the largest stock market slump in history after the emergence of an advanced Chinese artificial intelligence (AI) model raised doubts about its technology. Nvidia, the world's most valuable company, plunged as much as 18pc during trading on Wall Street on Monday, wiping more than $600bn (£480bn) off its valuation. - Telegraph

The takeover of Harland & Wolff by the Spanish state-owned shipbuilder Navantia has been completed in a deal expected to secure more than 1,000 British jobs. Navantia said the sale of Harland & Wolff will allow the company's four shipyards to support "both a highly skilled workforce and robust supply chain". - The Times

Stock picker Terry Smith's £2 billion vehicle, Smithson Investment Trust, has been targeted by Saba Capital, the activist New York hedge fund making waves with its siege of seven UK investment trusts. Filings by Saba-managed Saba Capital Income and Opportunities Fund II reveal it had bought total return swaps giving it an economic interest of £7.4 million in Smithson as at October 31 and disclosed on January 6. - The Times

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(Sharecast News) - The UK government will "wait and see" whether tariffs announced by Donald Trump "actually come to pass", a senior minister said. The US president announced what he called "reciprocal tariffs" on all other countries on Thursday evening, claiming it was "fair to all". But it was unclear how this would apply to the UK, especially as Trump suggested his policy regarded VAT as a tariff. - Guardian
Thursday newspaper round-up: Solar panels, OBR, Chevron
(Sharecast News) - California's home-insurance safety net does not have enough money to pay all of the claims from damage caused by the Los Angeles wildfires and has asked private insurers to contribute $1bn toward those claims. All private insurers operating in California are required to contribute to the Fair plan, a plan of last resort established so all Californians would have access to fire insurance. More than 450,000 California homeowners got their insurance through the Fair plan in 2024 - more than double the number in 2020. As of 4 February, the plan had received more than 4,700 claims from the Palisades and Eaton fires, almost half of which were for "total losses". - Guardian
Wednesday newspaper round-up: British economy, Heathrow, FOS
(Sharecast News) - The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course if Donald Trump goes ahead with threatened tariffs, a leading economic thinktank has warned. In a boost to Rachel Reeves after a bruising month of negative economic figures, the National Institute of Economic and Social Research (NIESR) upped its annual growth prediction from 1.2% to 1.5%. - Guardian
Tuesday newspaper round-up: OpenAI, EVs, gas prices
(Sharecast News) - Elon Musk escalated his feud with OpenAI and its CEO Sam Altman on Monday. The billionaire is leading a consortium of investors that announced it had submitted a bid of $97.4bn for "all assets" of the artificial intelligence company to OpenAI's board of directors. The startup, which operates ChatGPT, has been working to restructure itself away from its original non-profit status. OpenAI also operates a for-profit subsidiary, and Musk's unsolicited offer could complicate the company's plans. The Wall Street Journal first reported the proposed bid. - 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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