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Japan’s Nikkei passes 20,000 level

Japan’s benchmark Nikkei 225 index has edged past the 20,000 barrier in early trading for the first time since April 2000. The BBC reports the index hit 20,004.99 before falling to 19,907.63 at the close. Markets were buoyed by US energy stocks and a strong performance by Fast Retailing, Asia’s largest clothing retailer. Earlier this […]

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High Court winds up £880k property scam offering 51% returns

The High Court has wound up a scam property fund which took £880,000 from investors and promised returns of up to 51 per cent a year. The FCA says the fund was wound up earlier this month at its request and a liquidator appointed to investigate Hermay’s activities. The regulator says the firm had been […]

Lloyds profits fall as it takes £660m hit on TSB sale

Lloyds Banking Group has reported an 11 per cent fall in pre-tax profit for the first quarter of the year, after making a £660m loss on the sale of TSB. The bank’s Q1 results, published today, show it made a £1.2bn profit in the first three months of the year, down from £1.4bn in the […]

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Martin Tilley: Words of warning on toxic transfers

The new pension freedoms are finally here and, as both national and trade press have reported, there is huge interest in the drawdown flexibility and more favourable treatment of funds remaining on death. Much of this interest will come from members of defined benefit schemes who previously enjoyed neither the flexibility of income nor, in […]

US loan growth is not painting a pretty picture for the US economy

Written by Mike Riddell One of the current big debates in global financial markets is whether investors should believe ‘hard’ rather than ‘soft’ data, where the usually reliable business and consumer surveys have been suggesting strengthening in global growth momentum for some time now, while the economic data that feeds through into the Gross Domestic […]

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