5 Things You Need To Know, Today, on Wednesday 24th 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 Wednesday 24th May 2023
1. UK Inflation figures are released at 7am.
Economists polled by the Reuters news agency see the annual inflation rate easing to 8.2% in April from the current 10.1%.
2. Britain is no longer expected to suffer a recession this year, nor will it have the weakest economic growth in the group of seven leading industrialised economies, the International Monetary Fund (IMF) said.
Unveiling a dramatic upgrade to its outlook for Britain, the Fund, which previously predicted Britain would face the worst 2023 of any G7 nation, said that in fact the UK would grow by 0.4% this year.
3. Netflix has started its long-promised crackdown on password sharing in major markets including the UK and the US.
The streaming giant said it was notifying customers that they must pay £4.99 per month, or $7.99 in the US, if they want to share their account with someone outside their homes.
4. British billionaire Sir Richard Branson's rocket company Virgin Orbit has permanently ceased operations, just months after a major mission failure.
The company sold its assets for $36m (£29m), just 1% of the $3.7bn valuation ahead of its Nasdaq debut last year.
5. Apple says it has struck a multi-billion dollar deal with chipmaker Broadcom to use more US-made parts, which is part of a plan it announced in 2021 to invest $430bn (£346bn) in the US economy.
Under the multi-year agreement, the two US companies will develop components for 5G devices that will be designed and manufactured in America.
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.