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5 Things You Need To Know, Today, on Tuesday 25th April 2023
5. First Republic Bank customers pulled more than $100bn (£80bn) from their accounts in the first three months of the year amid concerns about the health of the global banking system.
The US bank says its deposits fell by over 40% since the end of December and now says also it plans to cut costs by shedding 20% to 25% of its workforce in the coming months.
4. Walt Disney Co has begun a second round of layoffs as part of an earlier announced restructuring expected to result in 7,000 job losses.
The media giant has been under pressure as its traditional television and film business shrinks, while its streaming unit continues to post big losses.
3. Italian restaurant chain Prezzo will shut a third of its restaurants after being hit by rising costs for pizza and pasta ingredients and energy.
The group said closing the 46 loss-making sites will put 810 staff at risk of redundancy.
2. Rishi Sunak told more than 200 chief executives on Monday he was "unashamedly pro-business" and he needed their help to grow the economy and turn around his party's fortunes before an election expected next year.
Sunak has made reviving the economy one of his five key priorities, after the International Monetary Fund projections put Britain at the bottom of the world's major economies in terms of expected growth in 2023, with a forecast that the economy will shrink by 0.3%.
1. Low-income households are now starting to receive the latest cost-of-living payment from the government to tackle ongoing high bills.
Eight million means-tested benefits claimants, including people on Universal Credit, should receive the £301 instalment between now and 17 May.