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5 Things You Need To Know, Today, on Thursday 30th December 2021

5. Elon Musk has rejected claims that his Starlink satellite internet project is taking up too much room in space.

His comments come after a claim by the head of the European Space Agency (ESA) that Mr Musk was "making the rules" for the emerging commercial space industry.

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4. A brewery boss said the sector had lost about 50% of its Christmas custom amid concerns over the Omicron variant.

Andy Wood, chief executive of Adnams, said the hospitality industry was facing the "economic equivalent of long Covid".

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3. Coronavirus "surge hubs" are to be set up at hospitals across England in preparation for a potential wave of Omicron admissions, the NHS has said.

The eight temporary "Nightingale" units will each house about 100 patients, with building starting this week and there are also plans to identify sites for a further 4,000 beds if needed.

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2. Prices paid for home and motor insurance are changing due to new rules coming into effect on 1 January to protect loyal and vulnerable consumers.

Anyone renewing their policy will pay no more than they would as a new customer, under regulations set by the Financial Conduct Authority (FCA) which could save loyal customers £4.2bn over 10 years.

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1. Millions of families are facing a "year of the squeeze" in 2022, a think tank has warned.

The Resolution Foundation predicts higher energy bills, stagnant wages and tax rises could leave households with a £1,200 a year hit to their incomes.

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