Tens of thousands of businesses are at risk of collapsing if the government fails to help support them because of soaring energy bills, according to experts.
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BBC News says The government has announced how all households in England, Scotland and Wales will receive £400 to help with rising fuel bills this autumn.
BBC News says The latest round of national rail strikes are getting under way, with only 20% of train journeys expected to go ahead on Wednesday.
Sky News says Two further days of rail strikes have been announced by the RMT union for 18 and 20 August in the row over jobs, pay and working conditions.
There is set to be a strike on 30 July over a pay dispute, union Aslef has announced.
Aljazeera says MACAU has locked down one of the city’s most famous hotels, the Grand Lisboa, after more than a dozen COVID-19 cases were found there on Tuesday.
The Independent says MORE than nine in 10 people have seen their living costs rise over the past month, as the price of food, fuel and energy continues to surge, pushing inflation to its highest level in four decades.
The Metro says TIME IS RUNNING out to spend the last remaining £20 and £50 paper bank notes.
The Guardian says UK INFLATION has increased to 9.1%, the highest rate in 40 years amid record prices for petrol and the soaring cost of food.
The Guardian says the biggest rail strikes in three decades are due to start on Monday night, with trains cancelled across Great Britain for much of the week.
The Guardian says the global rout in stock markets, cryptocurrencies and other risky assets has gathered pace amid growing concern that out-of-control inflation, rising interest rates and slowing growth could combine to tip the world into recession.
Aljazeera says Elon Musk was sued for $258bn on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency.
The Guardian says food price rises in the UK could hit 15% this summer – the highest level in more than 20 years – with inflation lasting into the middle of next year, according to a report.
TRT World says the US Federal Reserve has raised its benchmark interest rate by 75 basis points, marking its biggest rate hike in 28 years.
The Independent says real pay has fallen at a record rate, with public sector workers seeing a particularly big hit to their earnings while bankers toasted “extremely high” bonuses, official figures show.
The Guardian says Average wages in the UK are falling at the fastest rate for more than a decade as annual pay growth fails to keep pace with the rising cost of living.
The Metro says the UK economy could be heading for a recession and the cost of living will rise even higher.
The Guardian says The UK economy unexpectedly shrank in April as soaring energy costs and supply chain disruption dragged down manufacturing amid the cost of living crisis, while the winding-down of the NHS test-and-trace service dragged on growth.
The Guardian says low-paid health and care workers are calling in sick because they cannot afford to fill their cars with petrol to travel to work, the head of the UK’s largest trade union has warned.
The Independent says Britain is on the brink of a painful recession as prices continue to rise rapidly and the economy records zero growth next year, according to new analysis.
BBC News says Rail firms and a major union have both said they want to negotiate to try to avoid strikes that could cause major disruption in June.
The Guardian says concerns have been raised over the City’s influence on Westminster, after a report found financial firms and individuals tied to the sector donated £15m to political parties and gave £2m to MPs during the pandemic.
The Independent says the UK property rental market is shrinking drastically, leading a new report to warn rents could be driven up.
Daily Mirror says Customers of 10 banks including Barclays, Halifax, Lloyds, Nationwide and Monzo have been locked out of their bank accounts this morning.
Sky News says shop prices grew at the fastest rate in more than a decade during May, spurred on by rapidly-accelerating food inflation.
