Business news live: FTSE 100 opens after UK-US trade deal is signed
The FTSE 100 faces a stern test of its new high levels this week, with Israel - Iran tensions still running high and Tehran facing warnings from President Trump. Positive news for businesses came, however, from the G7 summit where the UK and US finally signed off on their trade agreement.
Overnight markets in Asia were decidedly mixed, with the Nikkei 225 up but the Hang Seng and Shanghai Composite both down, with futures markets early on today showing US stocks also set for a slight dip upon opening. On the London Stock Exchange, Ashtead are among the companies reporting financials on Tuesday - and they also gave an update on their planned listing switch to the US in 2026.
Later this week, the UK will also face the latest inflation data and have the Bank of England's latest interest rates decision, when they are expected to hold firm with a 4.25 per cent base rate.
The Independent brings you the latest business news and stock market updates from Tuesday.
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North Wales Chronicle
8 minutes ago
- North Wales Chronicle
PM denies coalition of the willing is dead as UK pushes for lower Russian oil cap
The Prime Minister said he 'strongly' believes that restrictions on the price of Russian crude oil should be strengthened to deplete the revenues Vladimir Putin uses to fund his war machine. The UK announced sanctions on 30 fresh targets linked to the Kremlin on Tuesday in a bid to ramp up pressure on Moscow as it continues resist calls for an unconditional ceasefire in Ukraine. A wider package of measures which Sir Keir suggested would be forthcoming from allies gathered at the G7 summit in Canada is yet to materialise after splits opened up in the approach to Russia on Monday. Downing Street said Britain also plans to 'move with partners to tighten the oil price cap' after the group of the world's wealthiest countries agreed in 2022 to restrict the price Russian crude oil to 60 dollars a barrel. Speaking to reporters with him in Kananaskis, Sir Keir was asked whether such a move would be possible without the backing of the US, which has indicated its reluctance to impose further sanctions on Moscow. 'Obviously today we're going to focus on Ukraine,' Sir Keir said. 'We've got President (Volodymyr) Zelensky coming in. We're putting in extra sanctions today, including sanctions on the shadow fleet. 'Others will be doing, similar actions in coming days. And so that does ramp up the pressure. 'On the oil price, obviously, we're still looking at how we're going to make that work. But I strongly believe that we have to put those sanctions in place. We're having those discussions with President Zelensky today.' Before abruptly leaving the summit on Monday, US President Donald Trump suggested he wanted to wait to 'see whether or not a deal is done' with Ukraine before targeting the Kremlin with further action. His remarks are awkward for Sir Keir, with whom he appeared to announce the completion of the US-UK deal, after the Prime Minister said G7 allies would seek to target Russian energy revenues. Talks to broker a possible peace in Ukraine have stalled as Moscow continues to pound the country with missile and drone attacks and holds out on US-backed proposals for an unconditional truce. Meanwhile, the UK and France have been leading efforts to assemble a so-called 'coalition of the willing' made up of nations prepared to send peacekeeping troops to Kyiv to enforce a potential truce. Asked whether those plans were dead in the water, Sir Keir told reporters: 'On the coalition of the willing, no, not at all. That is obviously intended to answer the question, how do you ensure that if a deal is reached, a deal is kept so it's a lasting deal? 'Because the concern, has always been, that there have been deals, if you like, before, Putin has then subsequently breached them. 'So how do you stop that happening again? And the military planning is still going on, as you would expect, so that, when the time comes, we're ready to act.' Ukrainian President Volodymyr Zelensky is attending the G7 conference in Kananaskis, along with leaders from Canada, the US, France, Italy, Japan, Germany and Britain. The Russian invasion will be at the top of the agenda on Tuesday. Earlier, the UK announced sanctions targeting 20 oil tankers in Russia's shadow fleet, as well as measures to tighten the net around companies managing the vessels, Orion Star Group LLC and Valegro LLC-FZ. Britain also targeted two UK residents – Vladimir Pristoupa and Olech Tkacz – who the Government said had operated 'a shadowy network of shell companies' aiding Moscow. The branch of the Russian defence ministry leading the country's underwater intelligence gathering operations, known as Gugi, has also been sanctioned. Sir Keir said: 'These sanctions strike right at the heart of Putin's war machine, choking off his ability to continue his barbaric war in Ukraine. 'We know that our sanctions are hitting hard, so while Putin shows total disregard for peace, we will not hesitate to keep tightening the screws. 'The threat posed by Russia cannot be underestimated, so I'm determined to take every step necessary to protect our national security and keep our country safe and secure.'
Powys County Times
8 minutes ago
- Powys County Times
PM denies coalition of the willing is dead as UK pushes for lower Russian oil cap
Talks to tighten the oil price cap on Russia are ongoing, Sir Keir Starmer said as he denied his plans for a so-called 'coalition of the willing' to protect Ukraine were dead. The Prime Minister said he 'strongly' believes that restrictions on the price of Russian crude oil should be strengthened to deplete the revenues Vladimir Putin uses to fund his war machine. The UK announced sanctions on 30 fresh targets linked to the Kremlin on Tuesday in a bid to ramp up pressure on Moscow as it continues resist calls for an unconditional ceasefire in Ukraine. A wider package of measures which Sir Keir suggested would be forthcoming from allies gathered at the G7 summit in Canada is yet to materialise after splits opened up in the approach to Russia on Monday. Downing Street said Britain also plans to 'move with partners to tighten the oil price cap' after the group of the world's wealthiest countries agreed in 2022 to restrict the price Russian crude oil to 60 dollars a barrel. Speaking to reporters with him in Kananaskis, Sir Keir was asked whether such a move would be possible without the backing of the US, which has indicated its reluctance to impose further sanctions on Moscow. 'Obviously today we're going to focus on Ukraine,' Sir Keir said. 'We've got President (Volodymyr) Zelensky coming in. We're putting in extra sanctions today, including sanctions on the shadow fleet. 'Others will be doing, similar actions in coming days. And so that does ramp up the pressure. 'On the oil price, obviously, we're still looking at how we're going to make that work. But I strongly believe that we have to put those sanctions in place. We're having those discussions with President Zelensky today.' Before abruptly leaving the summit on Monday, US President Donald Trump suggested he wanted to wait to 'see whether or not a deal is done' with Ukraine before targeting the Kremlin with further action. His remarks are awkward for Sir Keir, with whom he appeared to announce the completion of the US-UK deal, after the Prime Minister said G7 allies would seek to target Russian energy revenues. Talks to broker a possible peace in Ukraine have stalled as Moscow continues to pound the country with missile and drone attacks and holds out on US-backed proposals for an unconditional truce. Meanwhile, the UK and France have been leading efforts to assemble a so-called 'coalition of the willing' made up of nations prepared to send peacekeeping troops to Kyiv to enforce a potential truce. Asked whether those plans were dead in the water, Sir Keir told reporters: 'On the coalition of the willing, no, not at all. That is obviously intended to answer the question, how do you ensure that if a deal is reached, a deal is kept so it's a lasting deal? 'Because the concern, has always been, that there have been deals, if you like, before, Putin has then subsequently breached them. 'So how do you stop that happening again? And the military planning is still going on, as you would expect, so that, when the time comes, we're ready to act.' Ukrainian President Volodymyr Zelensky is attending the G7 conference in Kananaskis, along with leaders from Canada, the US, France, Italy, Japan, Germany and Britain. The Russian invasion will be at the top of the agenda on Tuesday. Earlier, the UK announced sanctions targeting 20 oil tankers in Russia's shadow fleet, as well as measures to tighten the net around companies managing the vessels, Orion Star Group LLC and Valegro LLC-FZ. Britain also targeted two UK residents – Vladimir Pristoupa and Olech Tkacz – who the Government said had operated 'a shadowy network of shell companies' aiding Moscow. The branch of the Russian defence ministry leading the country's underwater intelligence gathering operations, known as Gugi, has also been sanctioned. Sir Keir said: 'These sanctions strike right at the heart of Putin's war machine, choking off his ability to continue his barbaric war in Ukraine. 'We know that our sanctions are hitting hard, so while Putin shows total disregard for peace, we will not hesitate to keep tightening the screws. 'The threat posed by Russia cannot be underestimated, so I'm determined to take every step necessary to protect our national security and keep our country safe and secure.'
BBC News
11 minutes ago
- BBC News
Berrada aims for title in 2028
Manchester United chief executive Omar Berrada is sticking with his aim of marking the club's 150th anniversary in 2028 by winning the men's and women's league first outlined 'Project 150' to staff in September were founded as Newton Heath in 1878 and Berrada wants to mark the club's 150-year milestone in three years' time with a return to the summit of the English the men's team just experienced their worst domestic campaign since the 1973-74 relegation season and the women have to usurp Chelsea's unbeaten Treble winners, the task is not in an in-depth interview with the United We Stand fanzine, external, to be published on Wednesday, Berrada says it is better to aim high than have no target at all."It's establishing a series of targets within a timeframe so we can focus our efforts and energy on that goal," the 47-year-old said."Can the team win the Premier League title by 2028? Of course."We've just finished 15th and it seems an impossible task. But why not aim for it? Why not do everything in our power?"I firmly believe we can do it," he said of United's prospects."We have two or three summer windows to build a team to start competing to win the Premier League."Nobody is saying we don't want to win it until then. We're setting ourselves a target with a specific time frame to go and aim for."Read the full piece here
