Business news live: Mortgage rules changed immediately and FTSE 100 starts above key threshold
Now on Tuesday, the FCA has also announced an immediate change to mortgage rules, to help borrowers reduce their repayment term lengths, save money and find cheaper products with other providers more easily. The FCA say this will 'help people navigate their financial lives and support growth' in future, with other changes looking at making it easier for first-time buyers to get on the ladder.
In stock markets, the FTSE 100 closed above 9,000 points on Monday as global indices continued to push toward record new levels. Bitcoin has meanwhile remained around $118,000 and Brent Crude Oil is back under $69 after rising before the weekend.
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The Independent
23 minutes ago
- The Independent
Liverpool complete signing of Hugo Ekitike after seeing off late Man United interest
The Frenchman, whose fee could rise to £79m depending on bonuses, has signed a six-year contract at Anfield after passing a medical. Liverpool saw off late interest from Manchester United for the 23-year-old, while Newcastle had offered £70m for Ekitike, which Eintracht rejected. The former Paris Saint-Germain forward, who told United he had no interest in joining them when director of recruitment Christopher Vivell contacted Frankfurt, was a long-term target for Liverpool, who had been in contact with his representatives for six months, while Arne Slot spoke to him at the end of the season. Ekitike becomes Liverpool's fourth major summer signing and takes their spending to £250m – and up to £300m, including potential add-ons and the deal for Giorgi Mamardashvili, which was sealed last summer. and full-backs Milos Kerez and Jeremie Frimpong. Liverpool had also made an inquiry for Alexander Isak, who Newcastle did not want to sell, but believe they were pursuing Ekitike before the Carabao Cup winners turned to him after failing in attempts to sign Liam Delap and Joao Pedro, who both joined Chelsea instead. But they were reluctant to get involved in an auction and waited before making a late move, as they had when they took the Tottenham target Luis Diaz from Porto in 2022. Liverpool see Ekitike as a multi-functional forward who, though largely a No 9, can also play in deeper and wider roles and think that only Erling Haaland and Kylian Mbappe have shown more potential among strikers of such age. Ekitike scored 22 goals for Eintracht last season, though Liverpool believe his impact was greater than that and he has the potential to become more prolific.
Daily Mail
24 minutes ago
- Daily Mail
Liverpool confirm £79m signing of striker Hugo Ekitike as Reds' summer spending passes £290MILLION
Liverpool have confirmed the £79million signing of striker Hugo Ekitike. The Eintracht Frankfurt No 9 is expected to join up with the squad in Hong Kong in the next 48 hours for training sessions but is unlikely to play in Saturday's fixture against AC Milan. Ekitike, 23, joins on a six-year contract and has been on Liverpool's radar for some years, with Mail Sport first revealing in March that he was a top target. Liverpool have been in contact with Ekitike since January and Arne Slot informed the Frenchman of his intention to sign him at the end of the season just gone. The Reds' data tests showed that no one other than Erling Haaland and Kylian Mbappe scored higher in their data tests for No 9s. Slot's men do see him as a central striker but acknowledge that he can play off the wings too. The package is a £69m base fee plus £10m in add-ons which are based on team and player performance. The Frenchman has joined on a six-year deal and underwent his medical on Tuesday. Sporting director Richard Hughes has remained in the UK for now to finalise this transfer after Arne Slot's squad departed for the Far East on Sunday night after beating Stoke 5-0 in a behind-closed-doors game at the AXA Training Base in Kirkby. The champions played two different starting line-ups before and after half-time and Florian Wirtz, the club record addition, got his first competitive action for the club following his £116million move from Bayer Leverkusen. The likes of Jeremine Frimpong, Milos Kerkez and Giorgi Mamardashvili have also featured, having joined for £29.5m, £40m and £29m respectively. Those four signings have taken the Reds' summer spending past £290m as they continue to splash the cash and look to improve on a season that saw them become Premier League champions for a second time. Last week, Newcastle had an offer of £70m rejected for Ekitike, which fell £16m short of his release clause. Liverpool have also been linked with a move for Newcastle striker Alexander Isak but that move remains in question, especially after the major outplay for the France Under 21 international. Last season Ekitike scored 22 goals in 48 games for Frankfurt in all competitions, with 15 of those strikes coming in the Bundesliga. He was also named in the Bundesliga team of the season following a hugely impressive campaign. Ekitike was previously at Paris Saint-Germain, initially on loan from Reims before joining permanently. However, he only made 33 appearances for PSG in total and scored four goals. Liverpool have already been heavily active in the transfer market this summer, with several familiar faces leaving Anfield in a summer of churn. Trent Alexander-Arnold joined Real Madrid, while Jarell Quansah signed for Bayer Leverkusen and Caoimhin Kelleher made the switch to Brentford. The Reds are also expected to sell a number of stars before the window closes, with the likes of Darwin Nunez, Luis Diaz and Harvey Elliot all heavily linked with moves away.
Reuters
24 minutes ago
- Reuters
Wise's U.S. move proposals face fresh opposition from shareholder advisers
July 23 (Reuters) - A shareholder adviser group, Glass Lewis, expressed new concerns about UK-based money transfer company Wise's plans to change its primary listing to the U.S., just days before a shareholder meeting, and another adviser, PIRC, said that it opposed the plans. In a statement made public on Monday, Wise's (WISEa.L), opens new tab second-biggest shareholder, Skaala Investments, urged other shareholders to vote against proposals to move the company's primary listing to the U.S. from London, because the plans also included an extension to its dual share structure, which it said was "buried" in the proposals. On Tuesday, shareholder adviser Glass Lewis updated its report in light of Skaala's statement, and added its own concerns about the proposed extension of the dual share structure, according to a copy of the report seen by Reuters. Glass Lewis said in its report that share structures with unequal voting rights are "typically not in the best interests of common shareholders" and that it was "concerned" by the structure being extended. But, it said, the governance issue alone was not enough for it to recommend voting against Wise's U.S. move proposal overall, which it still supported. Skaala had said that the changes to the shareholder structure would entrench "disproportionate power in the hands of a few", including Wise's CEO. A spokesperson for Wise said on Monday that shareholders were "overwhelmingly in favour" of the proposal and that its process was fair. Wise cited the backing of proxy advisors including ISS, Glass Lewis and PIRC, and said that the dual-class share structure is essential for the company's success. On Wednesday, a spokesperson for PIRC said that Wise's statement was incorrect, and that it had expressed its opposition to Wise's plans in a report on July 15. PIRC's report recommends voting against the proposals, on the grounds that the move "raises concerns about a reduced commitment to UK corporate governance standards." "UK listing regime offers strong shareholder protections, disclosure requirements, and board accountability. Relocating to jurisdictions with less stringent oversight may weaken these safeguards," said PIRC's report, which was seen by Reuters. A spokesperson for Wise said that the company only became aware of PIRC's opposition on Wednesday, and that it maintains that shareholders are still "overwhelmingly in favour" of the plans. ISS did not immediately respond to a request for comment. Shareholders are voting on the issue ahead of a meeting on Monday 28 July.
