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5 Things You Need To Know, Today, on Thursday 11th August 2022
5. Meta's new prototype chatbot has said that Mark Zuckerberg exploits its users for money.
Meta says the chatbot uses artificial intelligence and can chat on "nearly any topic".
4. Ryanair won't be offering flights at rock bottom prices any more thanks to the soaring cost of fuel, the budget airline's boss has admitted.
Chief executive Michael O'Leary says the era of the €10 ticket is over.
3. Britain will only feel the full impact of higher interest rates in late 2023 and there is unlikely to be any return of quantitative easing for at least a few years, Bank of England chief economist Huw Pill has said.
Pill also defended the BoE's exclusive power to set interest rates, which was questioned recently by supporters of Liz Truss.
2. Prices in the US continued to rise rapidly last month, but a fall in petrol costs helped to ease the pace.
The annual inflation rate, the pace at which prices rise, was 8.5% in July, down from June when it surged to 9.1%, the Labor Department said.
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1. Energy bills could increase ahead of the expected rise in October, the UK's energy regulator has revealed.
Ofgem and industry body Energy UK said it was "possible" for suppliers to raise customers' direct debits before the new cap on energy prices kicks in.