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5 Things You Need To Know, Today, on Wednesday 24th August 2022
5. A former security chief for Twitter has turned whistleblower and testified that the company misled users and US regulators about gaps in its security.
Peiter Zatko also claimed that Twitter underestimated how many fake and spam accounts are on its platform, which could affect a legal battle between Twitter and billionaire Elon Musk, who is trying to cancel his $44bn (£37bn) deal to buy the company.
4. The British midcap index hit a fresh one-month low yesterday as a looming gas crisis in Europe and news of slower-than-expected business activity growth exacerbated fears of recession.
The domestically oriented FTSE 250 closed down 1%, marking a third consecutive day of decline, as soaring UK gas prices fueled fears of surging inflation that has restrained the economy.
3. More homes were sold in the UK in July than in any other month this year, official figures show, but agents say buyers are showing more caution.
Cost-of-living pressures were leading some to negotiate harder for a lower price, agents said.
2. Britain's private sector slowed to a crawl in August as factory output fell and the larger services sector eked out only a modest expansion, adding to signs that recession may be looming.
The S&P Global Purchasing Managers' Index (PMI) composite flash estimate, dropped to 50.9 in August from 52.1 in July, its lowest since February 2021 and close to the 50 level that separates growth from contraction.
1. Half of UK households are facing fuel poverty this winter unless the government does more to help with energy bills, EDF has warned.
Philippe Commaret, a senior executive at EDF Energy UK, said without further support, people face a "catastrophic winter".