5 Things You Need To Know, Today, on Thursday 4th May 2023
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5 Things You Need To Know, Today, on Thursday 4th May 2023
5. The UK is to ban all cold calls selling financial products as part of a national crackdown on scams.
Unsolicited calls offering any financial product will be covered by the ban, with a view to stopping fraudsters selling sham insurance products or cryptocurrency schemes.
4. The Competition and Markets Authority (CMA) is launching a review of the artificial intelligence (AI) market.
It will include the models behind popular chatbots like ChatGPT and comes as the AI industry has faced scrutiny from regulators lately, over the pace at which it is developing technology to mimic human behaviour.
3. The US central bank has raised interest rates to the highest level in 16 years as it battles to stabilise prices.
The Federal Reserve increased its key interest rate by 0.25 percentage points - its 10th hike in 14 months, which have pushed its benchmark rate to between 5% and 5.25% - up from near zero in March 2022.
2. Diesel drivers are being "ripped-off" at the pumps to the tune of around 16p per litre, according to a motoring group.
RAC Fuel Watch analysis showed diesel was 6p a litre cheaper than petrol on the wholesale market at the end of last month fanning the flames of inflation and the cost of living crisis in the process.
1. British new car registrations rose for the ninth consecutive month by more than 10% in April from a year earlier, according to the preliminary industry data released by the Society of Motor Manufacturers and Traders (SMMT).
SMMT also raised its 2023 sales outlook as supply chain disruptions eased now expecting 1.83 million new car registrations this year, compared with its prior forecast of 1.79 million units. However, it softened the outlook for battery electric vehicles to about 18% of total sales in the year.
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