Ten Things You Need to Know Today: Thursday 5 Nov 2015

1. UK and US: bomb may have caused Egypt crash

UK and US officials have said that the Russian airliner which was brought down over Egypt on Saturday with the loss of 224 lives may have been downed by a bomb on board. British foreign secretary Philip Hammond said there was "a significant possibility that the crash was caused by an explosive device onboard the aircraft".

Sinai plane crash: Egypt says 'no proof of terrorism'

2. Hundreds protest as PM welcomes Egypt president

Hundreds of people protested in Whitehall last night against David Cameron's decision to welcome Egyptian president Abdel Fatah al-Sisi to Downing Street, despite alleged human rights abuses. Protesters were also angry as al-Sisi displaced democratically-elected president Mohamed Morsi of the Muslim Brotherhood.

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3. MI5 'secretly collects phone data'

The BBC says it has learned that MI5 has been secretly collecting data about phone calls - who called whom, when and for how long - from phone companies for the past decade. It says this is so secret that few at MI5 even know about it. The practice has emerged as Theresa May proposes legislating new intelligence-gathering powers.

4. Music industry adds £4.1bn to UK economy

Trade body UK music says the music industry grew at 5% in 2014, outpacing the wider economy which grew just 2.6%, to generate a total of £4.1bn. Revenues to musicians, composers and lyricists totalled £1.9bn and live music sales brought in £924m. British artists accounted for one in seven albums sold worldwide.

5. Three million EU migrants by 2017

Three million migrants are expected to arrive in Europe by 2017 says the European Commission, which believes the record influx will have a positive economic outcome, and increase GDP by up to 0.3%. The new arrivals will also increase the EU population by 0.4%. An average 5,000 people a day are expected to head into Europe from Greece and Turkey during the winter.

6. Police warn of violence at Anonymous march

London's Met police have warned that an anti-capitalist march tonight, organised by online group Anonymous, could turn violent. The demonstration is held worldwide annually on 5 November. A Facebook page for the London protest warns that the police "are not your friends" and advises: "The hive mind should stay vigilant."

Million Mask March: Three police officers hospitalised following yesterday's protest

7. Bank of England issues inflation forecast

The Bank of England has voted to keep interest rates at 0.5% and has issued its quarterly inflation forecast, which warns that the outlook for global growth has weakened since August. The bank has an inflation target of 2% but says prices may not rise as quickly as had been expected. Interest rates have remained at their record low for six-and-a-half years.

8. George Bush Sr criticises 'iron-ass' Cheney

George HW Bush, president of the US from 1989 to 1993 has told a biographer hawkish advisors harmed his son's presidency. He labelled Dick Cheney and Donald Rumsfeld as "hardline" and "arrogant" and described Cheney as an "iron-ass". He also criticised his son for using inflammatory rhetoric and giving Cheney free rein.

9. Benzema appears before judge over sex tape plot

Footballer Karim Benzema has appeared before a judge and been placed under formal investigation by French police over an alleged sex-tape blackmail plot against another player, Mathieu Valbuena. The Real Madrid and France star spent a night in custody after being arrested. It is claimed that he told Valbuena to pay the blackmailers.

Benzema arrested over sex-tape blackmail – what is it all about?

10. Briefing: why interest rate hike could come sooner than you think

If you are one of the many people – including the majority of investors – who are betting a rate hike will not happen until later next year or even 2017, you may need to think again. Ahead of today's Bank of England interest rate decision, the National Institute of Social and Economic Research has published a report predicting price rises will overshoot a two per cent target in 2018 and 2019 unless borrowing costs are tightened sooner than previously expected. The think tank is calling for policymakers to vote for the first increase from the current record low base rate as soon as February.

Pound plunges after Bank of England's dovish rates signal