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5 Things You Need To Know, Today, on Thursday 5th May 2022
5. Uber's first-quarter loss soared to $5.9bn from $108m a year ago, driven by $5.6bn of drops in the value of stakes in other businesses, primarily Chinese ride-hailing company Didi & South East Asia's Grab.
Despite the loss, Uber's boss highlighted its progress in recovering from the impact of the pandemic.
4. The new boss of Sports Direct has insisted the High Street isn't dead, with plans to open up to 10 new flagship stores across the UK.
Michael Murray has taken over from Mike Ashley - his future father-in-law - as chief executive of Frasers Group.
3. British new car sales fell about 16% in April, compared with a year earlier, prompting a downgrade to the full-year outlook.
The Society of Motor Manufacturers and Traders (SMMT) said 2022 outlook for new cars registered has been downgraded to 1.72 million from a prior forecast of 1.89 million.
2. The Bank of England looks poised to raise interest rates today for the fourth time since December, the fastest increase in borrowing costs in a quarter of a century as it tries to quell the danger from the leap in inflation.
Britain's central bank is expected to announce a quarter-point increase, taking Bank Rate to 1.0%.
1. The US central bank has announced its biggest interest rate increase in more than two decades as it toughens its fight against fast rising prices.
The Federal Reserve said it was lifting its benchmark interest rate by half a percentage point, to a range of 0.75% to 1% after a smaller rise in March.