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5 Things You Need To Know, Today, on Wednesday 18th January 2023

5. Collapsed cryptocurrency exchange FTX says that around $415m (£338m) of crypto has been stolen by hackers.

About $323m was hacked from its international exchange and $90m from its US platform since the firm filed for bankruptcy, FTX's CEO says.

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4. High Street stationery chain Paperchase has lined up administrators and put itself up for sale.

The firm said it has a number of buyers interested in the business but was also talking to the insolvency experts Begbies Traynor about options for its future.

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3. The head of the UN's agency for workers' rights has denied the organisation backs the UK's tough new strike laws.

It comes after UK ministers repeatedly suggested the International Labour Organisation (ILO) supported government plans to enforce "minimum service levels" during public sector strikes but unions have called them "undemocratic, unworkable and illegal".

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2. Pay awards by British employers held at 5% for the second month in a row in December, well below annual inflation of close to 11%, data from human resources company XpertHR showed.

UK inflation slowed from a 41-year high of 11.1% to 10.7% in November 2022, but the Bank of England is concerned that double-digit price rises could be harder to tame if pay deals keep growing.

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1. The UK will release the Consumer Price Index (CPI) data today at 7am GMT.

Forecast inflation suggest headline is expected at 10.6% year-on-year vs. 10.7% in November while Core Inflation is likely to accelerate to 6.6% vs. 6.3% booked in November.

(Click here to read more)