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5 Things You Need To Know, Today, on Monday 1st August 2022
5. Crisis-hit Chinese property giant Evergrande says that one of its subsidiaries has been ordered to pay out 7.3bn yuan (£888.7m; $1.08bn) for failing to honour its debt obligations.
Evergrande Group (Nanchang) must make the payment to a guarantor of its liabilities, the firm says.
4. Telecoms regulator Ofcom has been urged to do more to help broadband and mobile customers who pay a "loyalty penalty" for staying with their provider.
Some long-standing customers pay more than new customers for the same service and Citizens Advice wants action taken.
3. The UK has given some of the least generous support to help drivers with high fuel costs among countries in Europe that have taken action, the RAC has said.
The motoring group said that out of 13 European nations that have cut tax on petrol, only Luxembourg has done less.
2. Rishi Sunak has said he will cut the basic rate of income tax from 20% to 16% by the end of the next parliament if he becomes prime minister.
This would amount to a 20% tax reduction, he said - the "largest cut to income tax in 30 years".
1. Mortgage borrowing rules have been eased after the Bank of England scrapped an affordability test.
The "stress test" forced lenders to calculate whether potential borrowers would be able to cope if interest rates climbed by up to 3%.