FTSE closes higher, fuelled by energy stocks and BP Gulf oil spill response May 27, 2010 BRITAIN’S top shares rose 3.1 per cent yesterday to hit a one-week high, with oil stocks the standout gainers led by BP as it was making progress in plugging a well which has been leaking in the Gulf of Mexico for five weeks. The FTSE 100 index closed up 157.09 points at 5,195.17, its highest [...]
Wall Street flies on China’s Eurozone review refusal May 27, 2010 US stocks rallied yesterday as investor worry was eased after China refuted a report that it was reviewing its Eurozone bond holdings due to the region’s debt crisis. Yesterday’s gains marked the largest advance for the S&P 500 on a percentage basis since 10 May, although volume was below average. China’s denial was enough of [...]
Sort out all your currency needs before you jet off May 27, 2010 EXCITEMENT about the World Cup is starting to reach fever pitch and many football fans are heading to South Africa either with tickets in hand or simply to soak up the atmosphere. England fans are expected to spend around £135m during the World Cup, according to a recent study by accountants Grant Thornton. However, restrictions [...]
PERSONAL FINANCE NEWS May 27, 2010 MORTGAGES FOR FIRST-TIME BUYERS The Yorkshire Building Society this week launched a new range of mortgages for first time buyers. The products have no up-front product fees and £500 cashback. You can also borrow up to 85 per cent of the value of the property. Borrowers will also get a free standard valuation and free [...]
Slick start-up riding recovery May 27, 2010 FROM the moment that Colin Webster and Robert Thesiger decided to set up their own financial recruitment business specialising in middle and back office functions, they knew they were in a race against the clock. After a torrid period during the recession, both men felt that the recruitment market would begin to turn in the [...]
Tax hikes and uncertainty to be bad news May 27, 2010 THE new government has wasted no time in swinging the axe on public spending. This week £6bn of cuts were announced. Business organisations are overwhelmingly in favour of the cuts, but what does this mean for entrepreneurs and start-up companies? Everything from government contracts to Regional Development Agencies (RDAs), which provide grants and funding to [...]
Q&A: PENSIONS May 27, 2010 Q. I am a small business owner and I?want to set up a pension fund for my employees, what is the easiest way to do this? A. It’s a timely thing for business owners to think about because the government are changing the rules for pension funds in 2012. The new rules will force employers [...]
FTSE closes above 5,000 led by miners who now may not face Aussie tax hikes May 26, 2010 BRITAIN’S top share index recovered to close above 5,000 points yesterday, led by miners after reports the Australian government may relax punitive tax measures, while Burberry jumped after strong earnings. The FTSE 100 ended up 97.40 points or 2 per cent at 5,038.08, having tumbled 2.5 per cent on Tuesday to its lowest close since [...]
Dow falls below 10,000 on Eurozone debt worries May 26, 2010 WALL Street staged yet another late-day reversal yesterday to end lower as news suggesting China was reassessing its Eurozone debt holdings pushed investors into profit-taking mode. The Dow closed below 10,000 for the first time since 8 February. The late turnaround in stocks showing investor psyche remains fragile, and investors are inclined to sell strength [...]
Don’t be caught unawares by bank volatility May 26, 2010 FEARS of sovereign debt contagion within the Eurozone have quickly turned into concerns about a European banking crisis. As if investors needed any further confirmation about the fragility of European banks, regional Spanish bank CajaSur was seized last weekend by the Bank of Spain after it had been crippled by property loan defaults. Plenty of [...]