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5 Things You Need To Know, Today, on Thursday 26th May 2022
5. A British regulator is expected to approve a revised plan by Shell to develop a North Sea gas field, which was initially rejected on environmental grounds.
Under the new plan, Shell aims to start production from the Jackdaw field, which will supply 6.5% of Britain's gas output, by the second half of 2025.
4. Volkswagen is to pay £193m to more than 90,000 drivers in England and Wales after it settled a High Court claim over the installation of emissions cheating devices in its vehicles.
The German carmaker apologised again to customers and said it was working to rebuild trust.
3. A UK-EU trade war would be "shocking" and "unnecessary", the Irish Prime Minister Micheál Martin has said.
He called on the UK government to "get into the tunnel and negotiate" over changes to the post-Brexit trade arrangements for Northern Ireland.
2. The head of the World Bank has warned that Russia's invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump.
David Malpass told a US business event on Wednesday that it is difficult to "see how we avoid a recession".
1. UK households are set to have hundreds of pounds knocked off energy bills this winter as part of a £10bn package to help people cope with soaring prices which is expected to be largely funded by a windfall tax on oil and gas firms.
The government is to scrap a plan to give people £200 off bills from October which would be repaid over five years instead, that sum will be increased and possibly doubled, and will not need to be paid back.