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5 Things You Need To Know, Today, on Thursday 6th October 2022
5. UK-based investors pulled a record £2.4bn from equity funds in September.
Making September the worst month in what is already the worst year on record for equity funds marking the 16th consecutive month of outflows"
4. Hong Kong says it will give away 500,000 airline tickets, worth HK$2bn ($254.8m; £224.3m), as it tries to boost its Covid-hit tourism industry.
The city rolled back several of its coronavirus rules in recent weeks however, major airlines are struggling to get their flight schedules back to pre-pandemic levels.
3. Tesco #TSCO has said people are "watching every penny" as they try to make ends meet, amid rising costs.
The UK's largest supermarket chain said customers are looking for ways to make their money go further, including switching from branded products and cutting back on eating out.
2. Britain's private-sector economy last month suffered the sharpest contraction in activity since a COVID lockdown early last year, underlining the challenge facing Liz Truss who on Wednesday emphasised her push for economic growth.
The final version of the S&P Global UK Composite Purchasing Managers' Index fell to 49.1 in September from 49.6 in August, the lowest reading since January 2021, a reading below 50 means a contraction in activity.
1. Some of the world's top oil-producing countries have agreed to cut the amount they export in a decision expected to raise petrol prices around the world.
Members of Opec+ - a group that includes Saudi Arabia and Russia - said they would slash production by two million barrels per day.