No 10 demands trains without guards as rail strike talks intensify

If England's World Cup victory has put you in a good mood that you want to savour, you may not want to read the CBI's latest outlook for the British economy. Although the CBI believes inflation peaked at 11.1pc in October, it predicts it will remain significantly above the Bank of England's 2pc target throughout 2023, ending the year at 3.9pc. Tony Danker, the CBI's director-general, said: "Britain is in stagflation – with rocketing inflation, negative growth, falling productivity and business investment. 5 things to start your day 1) British Gas requests to shut down dozens of companies over unpaid bills - Winding-up petitions mark a more aggressive approach to post-pandemic debt collection 2) Opec cartel warns of immediate action on oil output ahead of Russia sanctions - Warning comes as EU caps Russian oil at $60 a barrel in bid against Moscow 3) EU to overhaul state aid rules in response to Biden’s green energy plans - Subsidies risk sparking an exodus of cash from Europe 4) Roll out congestion charges nationwide, bus operators tell ministers - Proposal includes a £7 daily charge to make buses more attractive 5) Workers at hazardous nuclear waste site test positive for drugs - Random testing has been carried out on 741 workers over the past year What happened overnight Asian shares were mostly higher and oil prices rose after the European Union and the G7 agreed on a boycott of most Russian oil and a price cap of $60 per barrel on Russian exports.