Member Info for mick-b

Pension Lifetime Limit abolished (was capped at £1M)

Another way to avoid IHT

Another symptom of our horribly corrupted media landscape sees Chancellors leak entire budgets to friendly newspapers because the spin is more important than the substance.

A country getting sicker is a country getting poorer. - STARMER
7m on NHS waiting list

concerns deepened over the banking sector as Credit Suisse's largest shareholder ruled out injecting more cash into the embattled lender.

Both the FTSE 100 and the FTSE 250 have fallen 2.2pc and 2.5pc respectively today after an extended period of volatility triggered by the collapse of Silicon Valley Bank.

Credit Suisse's shares slumped another 20pc to a new record low, having fallen 29pc over the last three sessions.

Ammar Al Khudairy, chairman of the Saudi National Bank (SNB), said his company will not invest any more capital into Credit Suisse, with bets that scandal-hit lenders would default on its loans hitting a record high.

https://www.telegraph.co.uk/business/2023/03/15/budget-2023-childcare-pensions-tax-latest-ftse-100-markets/

LONDON, March 15 - Britain extended its
support for household energy prices by three months to the end
of June, keeping in place a price cap that will see average
annual bills stay at 2,500 pounds ($3,039).

FTSE100 FLAT
https://www.ig.com/uk/indices/markets-indices/ftse-100

https://www.teletrader.com/europe-muted-premarket-with-data-uk-budget-in-focus/news/details/59641910?internal=1

Gary Lineker to return to Match of the Day, makes no apology and tweets about small boats again
Gary Lineker will return to his Match of the Day presenting duties after the BBC apologised for suspending him in an impartiality row that has rocked the corporation.

Lineker got to keep his job but made no apology for his tweet comparing the language used to launch a small boats asylum policy with that used in 1930s Germany – and tweeted again about the plight of refugees within minutes of being reinstated.

Confirming Lineker's return, BBC director general Tim Davie said he recognised “the potential confusion caused by the grey areas of the BBC’s social media guidance” and said the presenter “will abide by the editorial guidelines” until an independent review of the BBC’s social media policy is complete.

The BBC denied there had been a climbdown.

On the UP

Polarean Imaging (POLX) unsuspended following SVB depositor rescue.
[SP=27.5 Cap=58m].

FTSE100 DOWN 0.25%
view live >>>>
https://www.ig.com/uk/indices/markets-indices/ftse-100

https://www.teletrader.com/europe-little-changed-premarket-svb-s-collapse-in-focus/news/details/59632652?internal=1

Even BP/SHELL are down around 5%

BREAKING:
Gary Lineker suspension lifted. Statement is peak BBC fudge. Tim Davie admits social media rules on impartiality are not clear, not uniformly applied and that the Match of the Day suspension was disproportionate.

BREAKING:
Gary Lineker suspension lifted. Statement is peak BBC fudge. Tim Davie admits social media rules on impartiality are not clear, not uniformly applied and that the Match of the Day suspension was disproportionate.

Sharp OUT.......soon

From today ALL banks will be viewed as (slightly) higher risk investments

47.27p bottomed out
now 47.73p

Woodbois (WBI) £3m placing at 1.2p, a 4% discount, for working capital.
[SP=1.2 Cap=27m]

Breaking news!
HSBC has bought SVB UK, in a deal that involves no taxpayer money.

FTSE100 UP 0.1%
view live >>>>>>
https://www.ig.com/uk/indices/markets-indices/ftse-100

https://www.teletrader.com/europe-mostly-up-premarket-on-us-bank-saga/news/details/59624503?internal=1

The United States Federal Reserve issued on Sunday a statement together with the Treasury and the Federal Deposit Insurance Corporation (FDIC) stating that all depositors of the Silicon Valley Bank will be protected and "no losses will be borne by the taxpayer." The regulators said this will apply to Signature Bank as well, which has also been closed. Depositors will have access to their funds starting on March 13.
In addition, the Treasury said it will provide additional funding of up to $25 billion "to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors." The funds will be placed in a new Bank Term Funding Program (BTFP) and offered as loans of up to one year. The Fed stated that it "does not anticipate that it will be necessary to draw on these backstop funds." It insisted that the capital and liquidity positions of the US banking system are strong and the US financial system is resilient.
Baha Breaking News (BBN) / DJ