FTSE 100 hits record as interest rate hopes push down UK borrowing costs

The UK’s blue-chip stock index has hit a record high, as hopes of interest rate cuts this year drove down government borrowing costs.Almost every share on the FTSE 100 rose on Friday, the fall in the value of the pound bolstering multinationals listed in London and propelling the index above 8,500 points for the first time.The “Footsie”, which tracks the 100 biggest London-listed companies, rose 1.6% to hit a fresh intraday high of 8,533.43 points amid growing confidence that the Bank of England would ease monetary policy this year

FTSE 100 share index hits record high; relief for Rachel Reeves as UK borrowing costs fall – as it happened

Boom! Britain’s blue-chip share index has hit a new alltime high.The FTSE 100 index, which tracks the hundred largest companies listed in London, has jumped by over 1% to 8480.36 points in early trading, above its previous intraday high of 8474 points set last May.Stocks are on a three-day rally, which started on Wednesday when UK inflation dropped unexpectedly, potentially paving the way for several interest rate cuts this year.Today’s disappointing retail sales figures, folowing Thursday’s weaker-than-expected growth data for December, have added to hopes that the Bank of England will ease monetary policy this year

Never have stale crisps again… nine invaluable things I’ve learned from TikTok

The average TikTok user spends almost one hour each day on the app. However, the screen time of American users is about to be rapidly reduced, as the app is set to be banned in the US.On Friday the US Supreme Court rejected an appeal against a law that would see the social media platform banned over national security concerns. TikTok’s China-based parent company ByteDance had challenged the law, arguing that it violates free speech protections for more than 170 million users.However, in an unanimous vote the ruling was upheld, meaning the app must now find an approved buyer for an American version by Sunday or be blocked

Chinese rival app Xiaohongshu is overwhelmed by ‘TikTok refugees’ in US

When Angelica Oung received the notification that her Xiaohongshu account had been blocked for violating the social media app’s code of conduct, her mind started racing.The only picture she had posted on her account, apart from her profile headshot, was of herself wearing an inflatable polar bear suit, holding a sign saying: “I love nuclear”. What could be the problem with that, wondered Oung, a clean energy activist in Taiwan.Was it because, at a glance, her picture looked like someone holding a placard at a protest? Was it because her costume looked a bit like the white hazmat suits worn by China’s Covid prevention workers during the pandemic, who became a widely reviled symbol of the lockdown? Or was it because in the background was Taipei 101, Taiwan’s iconic skyscraper?Oung never found out. “It is really opaque,” she said

All change for England: Borthwick plots full-back role for talisman Marcus Smith

Steve Borthwick has revealed he is giving strong consideration to shifting Marcus Smith to full-back and deploying Freddie Steward on the wing as he plots a course to England’s Six Nations opener against Ireland in Dublin.Smith has started England’s last seven Tests at fly-half and was their most eye-catching performer during a disappointing autumn in which Borthwick’s side were beaten by New Zealand, Australia and South Africa. With George Furbank injured, however, Borthwick sees merit in moving Smith to the No 15 jersey, which would pave the way for either Fin Smith or George Ford to start at fly-half.Marcus Smith started at full-back on three occasions during the 2023 World Cup, against Chile, Fiji and the bronze medal victory over Argentina. In the autumn Tests against Australia and Japan, Smith was shifted to ­full-back in the final quarter and his counterattacking ability from deep is valued by Borthwick

Northampton edge out battling Munster in Champions Cup thriller

The team that won the Heineken Cup for Northampton back in 2000 were out on the field at half-time of this match, Paul Grayson, Ben Cohen, Ali Hepher and the rest of them, taking an anniversary lap of honour for their 9-8 victory over Munster in the final that year. It’s maybe long odds this current squad will be doing likewise in 25 years’ time given the strength of the competition, but they are at least a little shorter than they were. They beat Munster, again, in a very different sort of game, 34-32 this time, and earned themselves home advantage in the last 16 by doing it.Saints had to work hellishly hard for it. The Munstermen just absolutely would not quit, even when they were as good as out of it