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5 Things You Need To Know, Today, on Friday 17th June 2022
5. Britain will welcome representatives from Ukraine and business leaders today to discuss how UK companies can help rebuild key infrastructure in Kyiv.
Trade Secretary Anne-Marie Trevelyan will seek to promote collaboration between British companies in infrastructure, energy and transport, and Ukrainian public and private organisations to help repair damaged and destroyed infrastructure.
4. Gatwick Airport is reducing the number of flights during the peak summer period due to staff shortages.
The number of daily flights will be cut to 825 in July and 850 in August, down from 900 in previous years.
3. People struggling with the soaring cost of living are cutting back on food and car journeys to save money, according to a BBC-commissioned survey.
More than half (56%) the 4,011 people asked had bought fewer groceries, and the same proportion had skipped meals.
2. Asian stocks fell on Friday after major losses in the US and Europe as worries about the economy intensify following a series of rate hikes around the world.
The UK and Switzerland raised interest rates on Thursday, a day after America's central bank announced its steepest interest rate rise since 1994.
1. UK interest rates have risen further as the Bank of England attempts to stem the pace of soaring prices.
Rates have increased from 1% to 1.25%, the fifth consecutive rise, pushing them to the highest level in 13 years.