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5 Things You Need To Know, Today, on Tuesday 2nd November 2021
5. A digital token inspired by the popular South Korean Netflix series Squid Game has lost almost all of its value as it was revealed to be an apparent scam.
Squid's developers have made off with an estimated $3.38m (£2.48m) as trading in the coin went from 1 cent last Tuesday to over $2,856 (£2,092) a week later.
4. Households will remain worse off than they were before the pandemic until 2023, the UK's independent forecaster has warned.
Charlie Bean, an Office for Budget Responsibility (OBR) committee member, told MPs that incomes would not return to 2019 levels for another two years because of "a very low rate of productivity growth".
3. Ryanair says it is expecting to cut fares this winter to help boost passenger demand as it warned it was still recovering from the Covid-related collapse in air travel.
The company reported a narrowing of half-year losses, but warned its annual deficit could hit €200m (£170m).
2. The first in a series of rate rises could come as early as this week, with the Bank of England's rate-setting Monetary Policy Committee (MPC) due to pronounce on Thursday.
The country's main interest rate, set by the Bank of England, has been below 1% since 2009, in the wake of the global financial crisis.
1. More than 100 world leaders will promise to end and reverse deforestation by 2030, in the COP26 climate summit's first major deal with a pledge that includes almost £14bn ($19.2bn) of public and private funds.
The countries who say they will sign the pledge - including Canada, Brazil, Russia, China, Indonesia and the Democratic Republic of the Congo - cover around 85% of the world's forests.
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