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5 Things You Need To Know, Today, on Monday 24th April 2023
5. Embattled retail giant Bed Bath & Beyond has filed for Chapter 11 bankruptcy protection in US.
The company says it will "implement an orderly wind down of its business", including its Buy Buy Baby brand, and close all 475 of its remaining stores by the end of June.
4. Collapsed banking giant Credit Suisse says 61.2 billion Swiss francs (£55.2bn; $68.6bn) left the bank in the first three months of the year.
The announcement gives an insight into the scale of the bank run that caused the 167-year-old lender to fail and triggered its state-backed rescue.
3. Some of Britain's biggest companies are scrambling to fill the void left by the crisis at the CBI as they consider backing a new body being set up after talks with Conservative and Labour officials.
Sky News has learnt that businesses from across a range of sectors including banking, insurance, retail and telecoms have been contacted about the launch of BizUK.
2. Asking prices for property being put on sale over the past month rose less than normal for the time of year, figures from property website Rightmove showed, adding to signs of more subdued momentum in the property market.
Rightmove said that average asking prices were up by 0.2% over the month, less than the average 1.2% gain seen at this time of year. Compared with a year earlier, asking prices were 1.7% higher, down from a 3.0% annual increase a month earlier.
1. Rishi Sunak will host a conference for business leaders today where he will pledge to work with companies in the hope of reviving the economy and turning around his party's fortunes before an election expected next year.
The conference called "Business Connect" is part of Sunak's attempts to rebuild the governing Conservative Party's relations with business, which were damaged during the economic turmoil of the premierships of Boris Johnson and Liz Truss.