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5 Things You Need To Know, Today, on Thursday 7th October 2021
5. UK wholesale gas prices hit a record high before falling after Russia said it was boosting supplies to Europe.
Russia President Vladimir Putin appeared to calm the market after gas prices had risen by 37% in 24 hours to trade at 400p per therm on Wednesday.
4. The boss of Intel says the US chipmaker is no longer considering building a factory in the UK because of Brexit.
Pat Gelsinger said that before the UK left the EU, the country "would have been a site that we would have considered".
3. The maker of Quality Street and Lion bars has said it is experiencing some supply chain problems ahead of the Christmas period.
But Mark Schneider, the chief executive of Nestle, said that it was working hard to make sure products made it shelves this winter.
2. Council tax in England could rise by as much as £220 per year within three years, researchers have said.
This is to keep local services running and help pay for social care reforms, the Institute for Fiscal Studies (IFS) think tank said.
1. Energy bills could rise by hundreds of pounds next year, analysts have warned.
Consumers should be prepared for further volatile gas prices and more suppliers collapsing, analysts from Cornwall Insight said predicting that the energy price cap will soar by £400 in the spring.