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5 Things You Need To Know, Today, on Wednesday 27th October 2021
5. Ikea is buying the former flagship central London store of Topshop for £378m following the collapse of Sir Philip Green's retail empire.
The Swedish giant will turn several floors of the huge Oxford Street site into a furniture store as part of a strategy to open inner-city outlets.
4. Attempts by Matthew Moulding's THG to appease concerns over trading and corporate governance have sparked another dive in the share price.
The online beauty retailer and software firm, which owns Lookfantastic, posted a positive trading update and said it was seeking an independent chairman but a shares sell-off that started this month continued on Tuesday with the price down another 20% at 239p.
3. Funding rules paving the way for a new major nuclear power station have been announced by the Business and Energy Secretary, Kwasi Kwarteng.
The move is the latest stage in efforts to build the £20bn Sizewell C project in Suffolk.
2. The price of a pint of beer will have to rise by as much as 30p to help pay for higher wages and energy costs, one pub company has warned.
As the government prepares to unveil its Budget, City Pub Group said price rises were "the only way forward".
1. The chancellor has promised his Budget "begins the work of preparing for a new economy" post-Covid, after rafts of policy previews angered the Commons.
Spending for transport, health and education has already been unveiled in the press, leading to fury from the Speaker, Sir Lindsay Hoyle.
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