3 Things You Need To Know (15/8/17)
Welcome to our daily update, where we summarise the key talking points from the last 24 hours.
UK inflation in July held at the same level as June’s 2.6%, helped by a drop in fuel prices.
However, rail fares are set to increase by 3.6% in January, based on July’s retail prices index inflation measure. This will mark the biggest rise in rail fares since 2013.
2. UK customs union
The UK government intends to propose an “innovative and untested approach” to customs checks following Brexit.
The idea is part of a new Brexit Paper and would mean no customs checks at borders between the UK and European Union.
However, EU negotiators have indicated that other issues need to be agreed upon before trade issues can be discussed.
3. Bill Gates
Bill Gates had donated $4.6 billion to charity, reducing his stake in Microsoft to just 1.3%. Despite this, Gates remains the richest man in the world, with a fortune of $89.9 billion. The donation from Gates is his biggest charitable act since 2000, and he has given away a total of $35 billion since 1994.