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5 Things You Need To Know, Today, on Friday 10th February 2023
5. Adidas has warned over the potential major impact on its profits of ending its partnership with rapper and fashion designer Kanye West last November.
The firm's new boss said it could lose hundreds of millions of dollars this year if it decides not to sell its stock of Yeezy sneakers.
4. British meal delivery company Deliveroo said it would cut around 9% of its workforce, or 350 roles, as it struggles to become profitable in a tougher consumer environment that has caused orders to slow.
Deliveroo has grown rapidly since it was founded in London a decade ago, and its riders - who are not directly employed - are now a familiar sight in towns and cities in nine countries.
3. The UK has paid £2.3bn to the EU after losing a long-running trade dispute, with the amount including £1bn in interest.
The payments relate to a disagreement over the importation of Chinese textiles and footwear between 2011 and 2017 - when the UK was still part of the European Union.
2. Many customers are facing sudden big rises in what they are paying for their mobile phone and broadband contracts, under a system the regulator says is "unclear and unpredictable".
Millions of customers are facing bill increases of as much as 14% in April, linked to the high rate of inflation.
1. Sales of second-hand cars fell sharply last year as fewer used models came onto the market, some 6.9 million used cars changed hands, down from 7.5 million in 2021, according to the Society of Motor Manufacturers and Traders (SMMT).
A shortage of parts driven by Covid meant fewer new cars were produced, and people hung on to their cars longer as they waited to upgrade.