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5 Things You Need To Know, Today, on Wednesday 9th November 2022
5. The digital assets market has been rocked by the near-collapse of one of the world's biggest cryptocurrency exchanges, FTX.
On Tuesday, FTX struck a bailout deal with larger rival Binance after a $6bn surge in withdrawals triggered a "significant liquidity crunch".
4. Tesla boss Elon Musk has sold another 19.5 million shares of the electric car maker worth $3.95bn (£3.4bn), filings with the US financial watchdog show.
The news comes less than two weeks after the world's richest man completed his $44bn takeover of Twitter. Tesla's share price has fallen by more than 50% since the start of this year.
3. Egg farmers are reducing flock sizes or leaving the industry due to running costs making their businesses unviable, a farming industry body has warned.
The British Free Range Egg Producers Association (BFREPA) said many of its members were losing money due to high chicken feed prices and energy costs and have called for a 40p increase for a dozen eggs to help meet costs.
2. A rising number of households are having their energy smart meters remotely switched to prepayment meters, the energy regulator has said.
Energy firms use the technology to swap customers who are in debt to the more costly plan without needing a warrant. Ofgem said it had received reports of "vulnerable customers being left without power for days or even weeks".
1. British grocery inflation hit 14.7% in October, another new record, and it is still too early to call the ceiling, market researcher Kantar said on Tuesday.
It said UK consumers would face a 682-pound ($785) jump in their annual grocery bill if they continued to buy the same items.