Ten Things You Need to Know Today: Friday 1 Mar 2013

The spectre of a triple-dip recession has been raised again by a “shock contraction” in the UK’s manufacturing sector. The bad news caused the pound to sink by almost a cent against the Euro, and one-and-a-half cents against the dollar today, as it became clear the ailing manufacturing sector is likely to act as a drag on the UK's economic growth in the first quarter of 2013.

Dale Bolinger, a hospital nurse in Kent, has been arrested at his home in Canterbury after a tip-off from police in the US investigating "cannibal cop" Gilberto Valle. Bolinger has reportedly been questioned in connection with Valle's online contact with someone in Britain who claimed to have eaten two women and been Valle's "mentor".

Pope Benedict XVI officially ended his pontificate last night with a final public appearance at the Vatican in which he told the crowd that he would now "simply be a pilgrim". He bade them "thank you and goodnight" and flew to his weekend retreat by helicopter, handing in his ring and his red slippers. His Swiss guards have been withdrawn.

London Mayor Boris Johnson last night denounced the EU cap on bankers' bonuses as "self-defeating", boosting Zurich, Singapore and New York "at the expense of the struggling EU". He called it "possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman Empire."

The Commons Home Affairs Committee last night demanded an "urgent review" of laws governing police undercover operations to protect the rights of those affected, including those who get involved in relationships with undercover officers. Chairman Keith Vaz said the effect of undercover police seducing women was "devastating".