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5 Things You Need To Know, Today, on Wednesday 5th October 2022
5. The UK's biggest mortgage lender will raise rates today as it follows a string of major providers re-pricing products, which has pushed the average two-year fixed rate deal to 6%.
The Halifax, part of Lloyds Banking Group, will put up the interest rates on a range of deals for new borrowers to well over 5%.
4. Britain recorded about 225,000 new car registrations in September, according to preliminary industry data released by the Society of Motor Manufacturers and Traders (SMMT) today.
The industry body said the year-to-date registrations were down a third on pre-pandemic 2019 levels.
3. Billionaire Elon Musk has apparently changed his mind about buying Twitter, again, and is now willing to proceed with his takeover of the social media platform.
In a letter to the firm, Mr Musk agreed to pay the price he offered months ago, $54.20 per share valuing the business at $44bn, before trying to quit the deal.
2. Rail services in the UK are being disrupted as around 9,000 train drivers in the Aslef union take part in another large-scale strike today.
The 24-hour walkout, in a row over pay and conditions, means no trains on lines run by firms such as Northern, Avanti West Coast and Southeastern.
1. The pound has risen to its highest level for two weeks on hopes Kwasi Kwarteng will bring forward details of how he will cut debt.
It rose to $1.14, recovering after the chancellor's plans to fund tax cuts by extra borrowing rattled investors.