FTSE 100 hits 7,000: The historical graph which charts the highs and lows of Britain’s blue-chip index March 20, 2015 It's finally done it: having peaked in 1999, and then again last month, the FTSE 100 has finally achieved the unachievable, breaching the hallowed 7,000 mark, proving a "psychological barrier" really is just a figment of the imagination. Since its 1999 peak, the index has yo-yoed, weathering 9/11 before bouncing back, then plummeting again as [...]
FTSE 100 closes above 7,000 as Europe agrees Greece deal March 20, 2015 The FTSE 100 closed about 7,000 points this evening, ending the day at 7,022 after breaching the "psychological" barrier for the first time this afternoon as Europe agreed a further bailout deal for Greece. It's the first time the index has ever risen as high as 7,000 – in 1999 it rose to 6,750, before [...]
Budget 2015: Gordon Brown beats George Osborne on job approval rating March 20, 2015 Now the dust has settled; the pollsters are digesting the public's reaction to Osborne's Budget and how they rate the chancellor. The good news for Osborne is that YouGov found for the first time since 2010 that more people approve if his job performance than disapprove. However, the chancellor of five years still failed to [...]
Greece will get EU funds after positive summit – Tsipras March 20, 2015 There could be light at the end of the tunnel for Greece after talks in Brussels ended with Prime Minsiter Alexis Tsipras calling the summit "positive". Greece, he said, can now proceed with talks to get EU funding as soon as possible. That funding will be forthcoming only if the country's creditors agree with the [...]
EU backtracking on ISDS: Most controversial part of TTIP could be scrapped March 20, 2015 The EU may scrap the most controversial part of the Transatlantic Trade and Investment Partnership (TTIP). EU trade commissioner, Cecilia Malmstrom, has voiced her support for replacing the Investor-State Dispute Settlement (ISDS) with a permanent investment court. The ISDS is a mechanism that sets the ground rules for foreign companies investing in other countries. It [...]
Number of people paying inheritance tax set to double by the end of the decade March 20, 2015 The number of people paying Britain's most unpopular tax is set soar before the end of the decade, according to the Office for Budget Responsibility (OBR). The independent watchdog forecasts that the deaths of 64,000 people in 2019/20 means the number of people paying inheritance tax will double. Still only paid by a small number [...]
Tesco takes over 21 superstores in £733m deal with British Land March 20, 2015 Tesco has sealed a £733m deal with British Land, in which the supermarket is taking back 21 of its superstores. The company says this will help it “strengthen its core UK business”. In exchange, British Land will take over Tesco's stake in three shopping centres, three retail parks and three standalone stores. These are currently [...]
TSB share price opens higher as Lloyds accepts £1.7bn takeover offer from Banco de Sabadell March 20, 2015 Shares in TSB opened 1.6 per cent higher at 332.47p this morning after its majority owner, Lloyds, have accepted a £1.7bn takeover offer from Spanish rival Banco de Sabadell. Shares in the challenger bank leapt 27 per cent last week, after TSB issued an announcement suggesting it was "willing to recommend" Sabadell's 340p-per-share offer – [...]
Government hopes to create “northern powerhouse” with transport overhaul worth billions March 20, 2015 Chancellor George Osborne is putting forward proposals to completely re-work the north of England's transport system. Called the Northern Transport Strategy report, he hopes it will lead to a “northern powerhouse”. The government worked with Transport for the North (TfN) to put the plan together. Costing billions of pounds to implement, the project would [...]
Alliance Trust tells Elliott Advisors directors: You’re male, pale & stale March 19, 2015 Alliance Trust is preparing a campaign against the three industry veterans its biggest shareholder is trying to get voted on to the board, City A.M. understands – arguing that the experienced bosses do not match the firm’s modern, creative model. Activist investor Elliott Advisors is engaged in a fierce battle of wills with the FTSE 100 [...]