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5 Things You Need To Know, Today, on Wednesday 20th July 2022
5. A US judge has ordered that Twitter's lawsuit against Elon Musk must go to trial in October, a blow to the world's richest man who had asked for a delay.
Musk walked away from his $44bn (£36bn) bid to buy Twitter earlier in July, prompting the company to sue him.
4. More than 115,000 Royal Mail #RMG workers have voted to go on strike in a dispute over pay.
Members of the Communication Workers Union (CWU) backed the action on Tuesday after ballot papers were sent out three weeks ago.
3. After enjoying a long reign as the king of streaming, Netflix faces a tough fight to keep its crown.
It lost almost 1m subscribers between April and July, as the number of people quitting the service accelerated.
2. Major British firms are preparing for a recession by focusing on cost-cutting but their investment plans remain strong which suggests they do not fear a severe downturn.
Nearly two thirds of chief financial officers quizzed by Deloitte thought a recession was coming in the next 12 months caused by the surge in inflation which almost 90% of the CFOs said would exceed 2.5% in two years' time.
1. The Bank of England could raise rates by as much as 0.5% at its next rates meeting, its Governor Andrew Bailey said as he pledged to get inflation under control.
Data today is expected to show June's inflation picked up from May's 40-year-high of 9.1%.