We start the day with another dire warning about the impending energy crisis. Philippe Commaret, EDF’s chief customer officer, warned that Britain faces a “dramatic and catastrophic” energy crisis in the coming months. He told BBC Radio 4 that half of UK households could be in energy poverty in January and called on the government to provide more support. It comes after the latest forecasts from Cornwall Insight showed energy bills are on track to reach £5,300 a year in April – a sharp jump from previous forecasts.

5 things to start your day

  1. Cineworld pays $100 million to bankers and lawyers in ill-fated survival battle The world’s second-biggest cinema is considering options for a rescue deal
  2. Europe’s population will halve as rising house prices force couples to have fewer children Buying a house big enough to raise a family is increasingly unaffordable
  3. PwC hit with £200,000 lawsuit after auditor suffers ‘golf pub’ brain injury Michael Brockie described as ‘walking miracle’ after half of his skull removed
  4. Murdoch’s heir steps into battle over criticism of US Capitol riots Lachlan Murdoch’s lawyers threaten Australian news agency with legal action over ‘co-conspirator’ claims
  5. Vodafone sells Hungarian arm as Orbán tightens his grip The mobile phone deal is the latest example of the prime minister’s efforts to control the economy

What happened in the night

Asian shares fell for a sixth straight session this morning after a fresh rise in energy prices in Europe fueled recession fears and pushed bond yields higher, while the euro fell to 20-year lows. Worry about China’s economy continued to creep in as a cut in lending rates and talk of a new round of official loans to property developers underscored pressures on the sector. Chinese blue chips fell 0.2% having received only a fleeting boost from the latest policy easing. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4 percent and has fallen every day for the past week. The Nikkei lost 1.2 percent after a PMI survey showed factory activity in Japan slowed to a 19-month low in August amid persistent increases in raw material and energy costs.

It’s coming today

Company: RM, John Wood Group (Intermediate) Economic: Manufacturing PMI (UK, EU, US), Services PMI (UK, EU, US), Composite PMI (UK, EU, US), Consumer Confidence (EU), New Home Sales (US)