FTSE 100 ends the day on a high while Dow hits new record May 5, 2021 Heavyweight mining stocks pushed the FTSE 100 higher today while Wall Street opened higher on strong jobs data as the Dow Jones hit a record high. The blue-chip index closed 1.68 per cent higher, buoyed by chemicals group Croda’s shares soaring towards the top of the index after it announced a business review assessment. The [...]
Those in debt to be given 60 days breathing space before enforcement action May 4, 2021 People in debt will be given 60 days to get their finances back on track without debts piling up, worrying letters or enforcement action, under a new government scheme. The scheme – called ‘Breathing Space’ – will give those in debt legal protections from their creditors for 60 days, with most interest and penalty charges [...]
Warren Buffett’s Berkshire bounds back from worst of pandemic May 1, 2021 Warren Buffett’s Berkshire Hathaway has said its results are rebounding from the worst effects of the Covid-19 pandemic, and that it has extended its aggressive stock repurchases with $6.6bn of new buybacks. First-quarter results suggest that the Omaha, Nebraska-based conglomerate that owns dozens of businesses, is through the worst effects of the pandemic, including the [...]
FTSE closes higher as US stocks pause after busy week for earnings April 30, 2021 The FTSE 100 closed higher today as the economic recovery optimism poised the index for its largest monthly gain since November last year. The blue-chip index rose 0.2 per cent, boosted by positive earnings updates from AstraZeneca and Smurfit Kappa. Meanwhile, the mid-cap FTSE 250 also rose by 0.56 per cent. Both indexes have risen [...]
HMRC repays overtaxed pensioners £716m in six years April 30, 2021 Savers overtaxed on pension freedom withdrawals have reclaimed £716m since 2015, when changes were introduced that allowed savers to flexibly access their pensions. The overtaxation occurs when someone accesses their retirement ‘flexibly’ for the first time in a tax year – which can include taking income via drawdown or withdrawing ad-hoc lump sums – HMRC [...]
Sterling slips against US dollar as cautious investors await BoE meeting April 30, 2021 The pound stumbled against the dollar today as traders remained cautious ahead of the Bank of England’s policy meeting next week. Sterling was down 0.2 per cent at $1.392, while holding its ground versus the euro. It brings yesterday’s nine-day high to an end, which followed a slump in the dollar after the Fed waved [...]
City regulator proposes easing suspension rule for listed SPACs April 30, 2021 The financial watchdog is consulting on a raft of changes to UK SPAC listings, including the rules around SPAC trading suspension when the vehicle identifies an acquisition target. Following a surge of SPAC or “blank check” company listings on Wall Street and more recently in Europe, London is keen not to be left behind. The Financial Conduct [...]
FCA looks into high risk investment promotion amid Bitcoin boom and TikTok ‘finfluencer’ trend April 29, 2021 The City regulator is looking for views on how to tackle the issue of high-risk investment promotions, fearing too many consumers are unwittingly taking too much risk with their money. The Financial Conduct Authority (FCA) is concerned consumers are investing in inappropriate, high-risk investments that are unsuitable for most people. The watchdog has recently warned [...]
FTSE 100 leaps as strong earnings drive index higher April 29, 2021 London’s FTSE 100 was boosted by a series of positive earnings this morning as the index shot up by 0.6 per cent. The blue-chips were buoyed by gains in medical products maker Smith & Nephew, who accelerated to the top of the index after revenue growth in the first quarter. The increase was also supported [...]
FTSE 100 rises while US stocks mixed as investors await Fed meeting April 28, 2021 The FTSE 100 closed higher after a busy day of results while US stocks are mixed as investors awaited the outcome of the US Federal Reserve’s policy meeting. London’s blue-chip index closed 0.27 per cent higher boosted by a series of positive earnings updates from WPP and Lloyds. Investors’ focus now turns to the US [...]