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5 Things You Need To Know, Today, on Tuesday 8th February 2022
5. The US and Japan have agreed to remove Trump-era tariffs from around 1.25 million metric tonnes a year of Japanese steel imports.
Under the deal, Japan says it will help to tackle excess steel supplies, which push down prices.
4. Pay-as-you-go customers are already going without gas and electricity in greater numbers ahead of big price rises, an energy supply boss has said.
Bill Bullen, chief executive of Utilita, said twice the usual number of prepayment meter customers were "self-disconnecting" when accounts ran dry.
3. Asda has promised to stock its budget ranges in all 581 supermarkets and online after complaints from anti-poverty campaigner Jack Monroe.
The retailer said it had "taken on board" her comments about availability of cheaper food for households struggling to make ends meet.
2. Six North Sea oil and gas fields are set to be given the green light this year, The Telegraph has learnt, as Cabinet figures push back against “insane” demands to go further on net zero.
Rishi Sunak has asked Kwasi Kwarteng, the Business Secretary, to fast-track the licences amid Treasury fears over the economic impact of making the UK a net zero carbon emitter by 2050.
1. British consumers slowed the pace of their spending last month as the Omicron COVID-19 wave hit fuel sales and kept people away from bars and restaurants.
Consumer spending was 7.4% higher than in January 2020 - before the pandemic - the weakest increase since April last year, Barclaycard said.