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5 Things You Need To Know, Today, on Monday 22nd August 2022
5. Shares in Cineworld #CINE have fallen more than 60% as concerns mount that the world's second largest cinema chain is about to file for bankruptcy.
The company, which also owns the Picturehouse chain in the UK, is struggling under $5bn worth of debt.
4. The rising cost of renting and buying a house has led to more over-50s looking for house and flat shares, according to property-sharing websites.
Leading flat-sharing site SpareRoom said it had seen a 239% increase in 55 to 64-year-olds looking for house-shares since 2011 and a 114% increase for the 45-to-54 age group.
3. Britain's slide towards a recession has gathered momentum after data last week showed inflation jumping above 10%, wages lagging far behind price growth and consumer confidence sinking to a record low.
The deteriorating picture for the world's fifth-biggest economy comes after the Bank of England warned this month of a 15-month contraction from the end of this year, worse than the outlook for other big European economies and the United States.
2. Dock workers at the UK's largest container port have gone on strike for the first time in 30 years.
About 1,900 members of the Unite union at Felixstowe in Suffolk are walking out for eight days after rejecting a 7% pay offer from the Felixstowe Dock and Railway Company.
1. Plans to enable households to get discounts on electricity bills if they cut use at peak times are set to be announced in the next two weeks.
The scheme would allow people to save cash if they avoid high-power activities, such as cooking or using washing machines, when demand is high.