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5 Things You Need To Know, Today, on Thursday 1st September 2022
5. Shares of major chipmakers Nvidia and AMD have fallen amid concerns of new US restrictions on the sale of artificial intelligence chips to China.
Nvidia says the US government requires a new license, effective immediately, to address the risk of chips being "used in, or diverted to a 'military end use'... in China and Russia."
4. John Lewis and Waitrose are offering staff free food from October to January to help with the cost of living.
The meals, during work hours, are for permanent staff, known as partners, as well as temporary and agency workers.
3. UK's FTSE 100 logged its worst daily performance in seven weeks on Wednesday as warnings of even higher inflation in the coming months raised fears of a deep recession in Britain.
The FTSE 100 closed down 1.1% and clocked a monthly decline of almost 2% in a brutal August that saw homebuilders, automakers and retailers take the biggest hit.
2. The boss of the UK's third largest energy supplier has proposed a plan for the government to subsidise soaring bills for the poorest households.
Steven Fitzpatrick, founder of Ovo Energy, wants the help to taper off for high earners who use more electricity.
1. Tory leadership hopeful Liz Truss has ruled out introducing new taxes if she becomes the UK's next prime minister.
The foreign secretary also hinted she would look at providing further support to businesses and households with soaring energy costs.