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  • Today's business and finance round up 6th May 2022

Today's business and finance round up 6th May 2022

Interest rates rise again as economic outlook gets gloomier

May 06, 2022

6th May 2022

Bite-sized business news from the UK and beyond

Good morning Yesterday, in the latest chapter of the ‘Elon Musk buys Twitter’ saga, the billionaire unveiled an all-star line up of 18 investors who are collectively stumping up $7bn to fund the $44bn takeover of the social media platform. Musk also announced plans to serve as the temporary CEO of Twitter, in addition to his other day jobs as chief of Tesla and SpaceX.

Today's stories

  • Interest rates rise again as economic outlook gets gloomier

  • Channel 4 fights back against privatisation plans

ECONOMYInterest rates rise again as economic outlook gets gloomier

  • 10.25% inflation expected by the end of the year – the highest since the early 1980s and nearly double the previous forecast of 5.75%

  • Increasing signs that the squeeze on incomes is starting to weigh on households

  • Consumer confidence is as low as it has been since 2008

Other stories to keep you in the loop

  • Shell profits soar to $9.1bn amid calls for windfall tax

  • Ocado investors rebel over £20m-a-year bonus plan for CEO

  • Thousands of jobs at risk as convenience store giant McColl's teeters on brink of collapse

  • Wealthy Russians flee to Dubai to avoid sanctions

  • Hope on the high street as Next and Sports Direct back stores

  • Turkey's cost of living soars nearly 70%

MEDIAChannel 4 fights back against privatisation plans

  • Selling its London headquarters and doubling the number of staff working outside the capital to become northern-based.

  • Creating up to 250,000 training and development opportunities for young people who might not otherwise have a career in the media.

  • Forming a joint venture with an external investor to spend £200m a year on new content and increase its total programming budget from £700m to £1bn a year by 2030.

Stat of the day

The World Health Organisation says the world’s true pandemic death toll is nearly 15 million, 3 times more than countries official numbers

Interesting links from around the web

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