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5 Things You Need To Know, Today, on Wedesday 30th March 2022
5. The Bank of England has urged people to spend or deposit their paper £20 and £50 notes before the notes stop being legal tender in six months.
The Bank is replacing the paper notes with more durable plastic ones featuring artist JMW Turner and mathematician Alan Turing.
4. Ten million people would struggle to cope in a cashless society even though only 17% of payments are now made with notes and coins, a report has found.
Going cashless would make budgeting difficult and would be a "major inconvenience" to another 15 million, the Royal Society of Arts (RSA) found.
3. The world's biggest companies "have a choice to make" whether to do business in Russia or in Western allied nations, a top US official has said.
Wally Adeyemo, the US Deputy Treasury Secretary, said firms could "choose to help Russia" in its invasion of Ukraine or "continue to do business with the 30 countries" that have imposed sanctions.
2. Average petrol prices are not fully reflecting a recent cut in fuel tax, according to motoring group the RAC.
While fuel duty was cut by 5p per litre last week, petrol has fallen less than 4p, and diesel by less than 3p, it said.
1. Major British retailers increased their prices by the most in almost 11 years this month, that tallies with forecasts showing the country's inflation rate is set to accelerate further.
The British Retail Consortium said shop prices rose by 2.1% in March for the fastest annual increase since September 2011, gathering speed from February's 1.8% increase.