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5 Things You Need To Know, Today, on Thursday 4th November 2021
5. India has cut the taxes paid by consumers on petrol and diesel after the surging cost of crude oil pushed fuel prices to record highs.
The decision aims to ease price rises and "further spur the overall economic cycle", the government said.
4. A typical UK home costs more than £250,000 for the first time after prices rose by 9.9% in the last year, according to the Nationwide.
The building society said the average house price was £250,311 in October, up 0.7% on the previous month.
3. Major coal users including Poland, Vietnam and Chile are committing to shift away from the fossil fuel, in pledges made at the COP26 climate summit, the UK government says.
Coal is the single biggest contributor to climate change and 190 nations and organisations had vowed to quit using it but some of the world's biggest coal-dependent countries, including Australia, India, China and the US, did not sign up to the pledge.
2. The Federal Reserve has outlined plans to withdraw the billions of dollars it has been pumping into the economy during the pandemic.
Since the start of the Covid crisis, the US central bank has been buying $120bn worth of bonds every month to help keep borrowing costs low but Fed chair Jerome Powell said this will now be scaled back by $15bn this month
1. The boss of oil giant Shell has insisted it can transition to net zero by 2050, but it will need the cash from its oil and gas business to pay for it.
Ben van Beurden dismissed splitting its legacy oil and gas business from its renewables investment, a move urged by activist shareholder Third Point.
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