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5 Things You Need To Know, Today, on Tuesday 10th May 2022
5. Global stocks on Monday suffered their worst one-day decline since the early months of the coronavirus pandemic in 2020, as investors fret about signs of slowdowns in the world’s large economies at a time when central banks are reining in crisis-era stimulus measures.
The FTSE All-World barometer of global equities dropped 3 per cent, its sharpest fall since June 2020, and hit its lowest level since December 2020.
4. Supermarket group Morrisons has won a battle to rescue McColl's, the convenience store and newsagent chain, and taken on all 16,000 staff members.
Morrisons who beat a rival offer from EG Group, will pay off McColl's £170m debts and take on its 1,160 shops and pension schemes, with 2,000 members.
3. Second-hand car sales have risen this year, boosted by a sharp increase in the number of used electric vehicles on the market.
Sales of used cars in the UK rose 5.1% between January and March, compared to the same three months last year.
2. British shoppers, feeling the hit from surging inflation, cut their spending for the first time since early 2021 when the country was under a coronavirus lockdown.
The British Retail Consortium (BRC) said total retail spending among its members - mostly large chains and supermarkets - was 0.3% lower than a year earlier, compared with 3.1% annual growth in March.
1. Boris Johnson has promised to get the country "back on track" as the government unveils its plans for the year ahead in the Queen's Speech.
The speech will announce 38 bills including laws aimed at easing the cost of living and boosting economic growth.