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5 Things You Need To Know, Today, on Monday 6th December 2021
5. China Evergrande Group is on the brink of default again, with pessimistic comments from the property developer raising expectations of direct state involvement and a managed debt restructuring.
Having made three 11th-hour coupon payments in the past two months, Evergrande will again face the end of a 30-day grace period on today, with dues this time at $82.5 million.
4. Britain's economy looks set to grow more slowly than previously thought this year and in 2022 due to global supply chain problems.
The Confederation of British Industry cut its forecasts for economic growth to 6.9% in 2021 and 5.1% in 2022 from previous estimates of 8.2% and 6.1%.
3. Up to 1,200 workers at Tesco distribution centres across the UK are set to strike in the run-up to Christmas after the supermarket offered a 4% pay rise which the Unite said amounted to a "real terms pay cut" due to current high rates of inflation.
The workers, including warehouse staff and HGV drivers, are based at sites in Antrim, Belfast, Didcot and Doncaster.
2. There are early signs the shortage of lorry drivers will improve, a trade association has said.
Logistics UK, which represents freight and haulage businesses, said the number of drivers leaving the profession had begun to ease and more trainees coming through the testing system as a cause for optimism.
1. The latest travel rule changes are "a case of shutting the stable door after the horse has bolted," a scientist advising the government has said.
Prof Mark Woolhouse said the new rules had come "too late" to make a "material difference" and have been described by the travel industry as a "hammer blow", with the Business Travel Association warning livelihoods would be "devastated".
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