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5 Things You Need To Know, Today, on Tuesday 8th November 2022
5. Foxconn, which makes iPhones for Apple, says it is deepening its investment in a US electric pick-up truck firm, which could challenge Tesla's Cybertruck.
The technology giant is spending up to $170m (£147.8m) on shares in the loss-making start-up Lordstown Motors.
4. Facebook's parent company Meta is reportedly planning to begin large-scale lay-offs this week that will affect thousands of employees.
During Meta's disappointing third quarter results, chief executive Mark Zuckerberg said staffing might fall & US media reported that the job cuts could be announced as early as Wednesday.
3. The founder and former boss of Made.com has said his offer to buy the furniture business before it falls into administration has been rejected.
The online retailer is set to enter administration this week with the expected loss of some 500 jobs.
2. British businesses fear a gloomy Christmas ahead, as almost half of households plan to cut festive spending due to the soaring cost of living and sales are already falling sharply in inflation-adjusted terms.
Payments processor Barclaycard said 48% of people it surveyed over Oct. 21-24 plan to spend less this Christmas, with 59% intending to buy less generous gifts and 42% cutting back on socialising.
1. Many schools in England are considering cutting teachers or teaching hours to save money, says the head teachers' union, NAHT.
Of the 11,000 respondents to NAHT's snapshot survey, 66% said they will have to make teaching assistants redundant or cut their hours. Half say they could do the same for teachers.