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5 Things You Need To Know, Today, on Thursday 8th September 2022
5. Reality TV star Kim Kardashian has launched her own private equity firm, co-founded with a former partner at investment firm the Carlyle Group.
SKYY Partners, will focus on investing in consumer and media businesses, they said in a tweet.
4. Liz Truss will scrap the country's fracking ban and will seek to make more use of North Sea reserves.
Fracking, which involves extracting shale gas from rocks by breaking them up with water and chemicals at high pressure, was banned in 2019 after the country's oil and gas authority said it was not possible to predict the magnitude of earthquakes it might trigger.
3. The number of homes sold in Britain over the next 12 months is set to fall by the most in at least a decade, as fears of recession and rising interest rates hurt the market, the Royal Institution of Chartered Surveyors (RICS).
The industry body said its members also seen the biggest fall in enquiries from new buyers since April 2020, at the start of the COVID pandemic, while prices were rising at the slowest pace since January 2021 and were expected to level off.
2. The pound has fallen to its lowest level against the US dollar since 1985.
Sterling fell 0.64% to $1.145 on Wednesday afternoon - a level not seen in 37 years with the Bank of England said a weaker outlook for the UK economy as well as a stronger dollar were putting pressure on sterling.
1. New Prime Minister Liz Truss will unveil plans to limit energy bill rises today, spending at least £100bn to pay for it, to protect people from soaring prices.
Typical household energy bills could be capped at around £2,500 a year, with firms also likely to get some relief.