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5 Things You Need To Know, Today, on Tuesday 12th October 2021
5. The price of coal used in China's power plants has surged to a new record high as another of the country's key mining regions is hit by flooding.
Heavy rains hit Shanxi in recent days, the country's biggest coal producing province, after record floods struck the mining region of Henan in July.
4. Asos has announced its chief executive is leaving with immediate effect as the online fashion giant warned that rising costs means next year's profits could fall by as much as 40%.
Nick Beighton is stepping down after six years in the role and the day-to-day running of the firm will be taken over by Asos' finance chief.
3. A deal to avert another carbon dioxide crisis in the food and drink industry has been extended until early 2022.
US firm CF Industries, a key CO2 producer in the UK, has agreed to continue supplies of the gas.
2. There is no room for big spending announcements for hard-pressed public services in this month's Budget, the Institute for Fiscal Studies says.
The influential think tank has published new analysis, suggesting borrowing will be lower than forecast.
1. The Department for Business expects to get Prime Minister Boris Johnson's backing for a package to help energy-intensive industries as gas prices soar.
The proposals could involve loans worth hundreds of millions of pounds.