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5 Things You Need To Know, Today, on Thursday 27th January 2022
5. South Korean battery maker LG Energy Solution has jumped in its stock market debut after becoming the country's biggest ever share offering.
The shares briefly doubled from their initial public offering (IPO) price before settling at around 60% higher having raised 12.8tn won (£7.9bn; $10.6bn) in the IPO earlier this month.
4. Tesla sales will grow by more than 50% in 2022 compared with last year despite supply chain problems, chief executive Elon Musk has said.
The electric carmaker recorded a record $5.5bn (£4bn) earnings last year and sales at the firm rocketed 71% to $53.8bn in 2021, as it delivered more than 936,000 vehicles to customers.
3. The US central bank is poised to raise interest rates as it unwinds the support it has provided the world's largest economy since the start of the pandemic.
The Federal Reserve did not raise interest rates on Wednesday, but said such a move "will soon be appropriate" and analysts expect a rate hike in March, which would be the first since 2018.
2. Car production in the UK last year fell to its lowest level since 1956, according to figures from the Society of Motor Manufacturers and Traders.
The SMMT said the disruption was largely caused by the Covid pandemic but said there was optimism for the future, with the announcement of new investment worth nearly £5bn mostly in electric vehicles or technology.
1. Jobseekers on Universal Credit will have to look for jobs outside their chosen field more quickly under government plans to get more people into work.
From today, people will have to look outside their sectors after just four weeks, rather than three months, or face sanctions as Ministers want 500,000 jobseekers in work by the end of June.