Weekly Digest – 9 November 2022

Weekly Digest – 9 November 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Details on the £400 energy rebate

Two payments totalling £650 are being made to more than eight million low-income households starting this week. Learn the details here.

Climate change framed as emergency at COP27

The COP27 climate summit got underway this week in Egypt. Leaders from all over the world are meeting for two weeks to discuss how to avert the worst effects of climate change. The head of the United Nations declared that the lack of progress so far had the world speeding down a “highway to hell”.

Ryanair profits soar

Ryanair reported a surge in profits to a record £1.2bn for the first half of its financial year. They say that demand for air travel in the wake of the pandemic is stronger than ever.

Sweeping changes continue at Twitter

With Elon Musk’s takeover of the social media giant complete, big changes have been in the news all week. From job cuts to privatising the company, the transition is shaking things up.

Some employees being asked back to Twitter after being let go

In a surprising turn of events, there are reports of some employees who were fired from Twitter being invited back. It’s unclear how their wages or benefits were affected by the rapid firing and rehiring.

Meta prepares for mass layoffs

To address growing losses and to manage heavy development costs for its metaverse business, Facebook’s parent company is reportedly planning to lay off thousands of workers this week.

Bank of England puts the onus on lenders to avoid repeat of pensions market turmoil

BoE executive director for financial stability Sarah Breeden says lenders should demand more information on the financial picture of the funds they deal with in order to conduct better risk assessments and avoid future pensions crises, like we saw in September.

Plans unveiled for UK’s first lithium refinery

Green Lithium will build a £600m lithium refinery at PD Ports’ Teesport, creating 250 permanent jobs. The material is needed to support the electric car industry.

US Federal Reserve seizes US$3.36 billion in bitcoin stolen a decade ago

The Federal Reserve announced this week that it has recovered US$3.36 billion worth of bitcoin stolen from the now-defunct illegal Silk Road marketplace in 2013 – the second-largest crypto recovery ever.

Ebay is urging us to choose something second-hand this holiday shopping season

Ebay is going back to its roots and encouraging shoppers to choose something used, to help your pocketbook and the planet. The platform will be promoting only second-hand or refurbished deals for Black Friday.

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