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5 Things You Need To Know, Today, on Wednesday 26th April 2023
5. Shares in First Republic have tumbled nearly 50% as investors question its future.
The falls came a day after the mid-size US bank said customers had pulled more than $100bn (£80bn) from their accounts amid last month's banking panic.
4. Ed Sheeran has appeared in a New York City court to deny that his song Thinking Out Loud copied Marvin Gaye's song Let's Get it On.
Heirs of Gaye's co-writer, Ed Townsend, argue that Sheeran, Warner Music Group and Sony Music Publishing owe them money for allegedly stealing the song.
3. The UK's largest bioenergy supplier has been told by its own scientific advisers to stop calling biomass 'carbon neutral" raising "difficult questions" about the future of the controversial energy form when its subsidies expire in 2027.
Drax began burning woody biomass pellets instead of coal to produce electricity ten years ago, on the basis that doing so effectively neutralises the planet-heating carbon emissions, because new trees are planted to absorb those gases.
2. The boss of a major UK manufacturing firm has said he is considering moving investment to the US or Europe due to new subsidies offered there.
John Neill, who runs parts and logistics giant Unipart, said he wanted to invest in Britain but UK companies could not "compete on a level playing field".
1. The Bank of England's top economist has said people in the UK need to accept that they are poorer otherwise prices will continue to rise.
Huw Pill told a podcast in the US that there was a "reluctance to accept that, yes, we're all worse off".