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5 Things You Need To Know, Today, on Tuesday 17th January 2023

5. Vladimir Putin is "weaponising food", and the impact is being felt around the world, the boss of one of the world's biggest fertiliser firms has warned.

Svein Tore Holsether, from Yara, said countries needed to cut their reliance on Russia after its invasion of Ukraine hit global food supplies and prices.

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4. China's economy grew last year at the second slowest rate in almost half a century - in a sign of how the country's strict coronavirus regulations have affected businesses.

Official figures show the gross domestic product (GDP) of the world's second largest economy rose 3% in 2022.

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3. Marks & Spencer  has said it will create 3,400 jobs across Britain as part of plans to revamp its stores.

It plans to open eight "full-line" stores - which stock clothes, food and homeware - in cities such as Liverpool, Birmingham and Leeds in the next year and seven of the eight shops will be relocations, of which five will be at former sites of Debenhams.

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2. There is still a "hangover effect" from the financial instability seen during the prime ministership of Liz Truss, the Bank of England governor has said.

Andrew Bailey told MPs that the cost of government borrowing, which soared after the mini-budget, had normalised but he said international investors were still wary about lending money to the UK government.

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1. Teachers in England and Wales have announced they will take strike action, joining nurses, rail workers and others in staging industrial action in a further headache for Rishi Sunak's government.

The National Education Union (NEU) said that the first strike would be on Feb. 1, a date when 100,000 public sector workers are due to strike in what could become Britain's biggest day of co-ordinated industrial action for decades.

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