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FTSE breaks through 4,000 barrier

The FTSE returned from Easter break with renewed vigour breaking through the 4,000 barrier in early trades.

The blue chip index opened higher this morning at 3,991 after closing 3,984 on April 13. By 9.27am, it was 0.65 per cent higher at 4,011 boosted by a banking rally.

Lloyds Banking group was up 9.4 per cent to 87p, Barclays was up 15.8 per cent to 205.50p and Royal Bank of Scotland gained 8.3 per cent to 31.40p.


Poland requests IMF credit line

Poland has requested a $20.5 billion (£13.7 billion) credit line from the International Monetary Fund (IMF), according to a statement from the fund.It is the second country after Mexico to apply for a precautionary arrangement under the IMF’s Flexible Credit Line (FCL) facility, launched in March to help combat the global economic crisis.Dominique Strauss-Kahn, the […]

Group therapy

After filing my column last week, I got an email: “Dear Nic, you may have seen that Axa has scrapped indemnity commission on group pension plan products. I don’t know what you think, but in my view this marks the beginning of the end of the commission. That has to be a good thing, doesn’t it?”

Chinese GDP falls again

Chinese GDP growth slowed to 6.1% in the first quarter of 2009, down from 6.8% in the last quarter of 2008, according to the National Bureau of Labour Statistics for China (NBS). The figure represents a 4.5 percentage point fall on GDP growth recorded over the same time period last year.According to an NBS statement, […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]


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