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5 Things You Need To Know, Today, on Friday 30th September 2022
5. Nike has warned that its profits will continue to be squeezed by the strong dollar and discounts aimed at cutting its stockpile of goods.
The sportswear giant, which makes over half of its revenue outside North America, doubled how much it thinks the soaring dollar will hit its annual revenue to $4bn (£3.6bn).
4. Former Bank of England governor Mark Carney has accused the government of "undercutting" the UK's key economic institutions.
Mr Carney said the government's tax-cutting measures were "working at some cross-purposes" with the Bank of Enlgand.
3. British job vacancies dropped to the lowest level since the COVID-19 pandemic last week, a sign of a further weakening in the labour market that has been cooling since July, according to data from the Recruitment & Employment Confederation (REC).
There were 143,000 new job postings in the week of Sept. 19-25, the least in 2022 so far, bringing the total number of active job alerts to 1.45 million.
2. Energy prices will rise for millions of households on Saturday, but the increase has been cushioned by a government cap on the cost per unit.
It stepped in after an 80% increase in domestic gas and electricity bills was earmarked for the first half of winter.
1. The prime minister will meet the head of Britain's independent forecaster today after days of market turmoil.
In an unusual move, Liz Truss and Chancellor Kwasi Kwarteng will meet the chairman of the Office for Budget Responsibility's (OBR) to discuss the fallout after Friday's mini-budget.