5 Things You Need To Know, Today, on Friday 12th May 2023
If you find this podcast useful please give it a rating and review on iTunes by clicking here
5 Things You Need To Know, Today, on Friday 12th May 2023
5. Elon Musk says that he has found a new chief executive to lead Twitter, on Twitter, which he bought last year for $44bn (£35.2bn).
Mr Musk did not name the site's new boss but said "she" would start in six weeks, at which point he would become executive chairman and chief technology officer.
4. Buyers and banks need to be "very careful" with 100% mortgages that have no deposit requirement, the Bank of England has warned.
Andrew Bailey, its governor, said "quite a few problems" could arise from such deals which some see as riskier.
3. British lawmakers launched an investigation on Friday into the fairness of the country's food supply chain, seeking to understand why households are facing the highest levels of food price inflation since the 1970s.
Official data showed UK food prices were 19.1% higher in March than a year earlier, the biggest such rise since August 1977, while in April, grocery inflation was 17.3%, according to industry data.
2. Passengers have been warned to expect significant disruption from the latest train strikes on today.
Members of the Aslef train drivers' union are walking out at 16 companies, with some running no services at all.
1. The governor of the Bank of England says he expects inflation to fall "rapidly" in just weeks - but warned two thirds of the pain from interest rate rises is yet to come.
Andrew Bailey made the comments after interest rates were increased for a record-breaking 12th successive time, lifting the cost of borrowing from 4.25% to 4.5%.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.