Summary

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  • Markets flat ahead of Trump speech

  • Boris Johnson upbeat on future trade

  • 5G features at Mobile World Congress

  • India's economy grows at 7%

  1. 'Chances of eurozone breakup increasing'published at 08:44 Greenwich Mean Time 28 February 2017

    Euro symbolImage source, Getty Images

    One in four investors believes that at least one eurozone member state will quit the single currency in the next 12 months, according to a survey,

    Frankfurt-based Sentix said its monthly "euro break-up" index - which polls 1,000 institutional and retail investors - rose to 25.2% in February from 21.3% in January. 

    The group said France and Italy had now joined Greece as likely exit candidates, due to the former's presidential race and latter's banking crisis.

    "After two years' absence, the euro crisis is back in the spotlight," Sentix researcher Manfred Huebner said. "However, this time... the protagonists have multiplied."

  2. M&S among FTSE riserspublished at 08:29 Greenwich Mean Time 28 February 2017

    M&S signImage source, Getty Images

    One of the best performers on the FTSE 100 today is Marks & Spencer's - up 2.37% - after analysts Jefferies upgraded its stock to "buy" from under-perform.

    Outsourcing firm Babcock has also climbed 2.37% after saying it was on track to achieve its full-year targets.

    And aerospace giant BAE is up 2% ahead of Donald Trump's speech to Congress later. The President is expected to promise to boost defence spending.  

  3. FTSE 100 'on hold' ahead of Trump speechpublished at 08:18 Greenwich Mean Time 28 February 2017

    Traders at their desksImage source, Getty Images

    The FTSE 100 has opened flat as investors await Donald Trump’s much-anticipated speech to Congress later, and a second estimate of US fourth-quarter GDP.

    In early trade it's 0.07% higher at 7,258.12 points. 

    Connor Campbell, an analyst at SpreadEx, says: "Already investors have been given a sense of what the Orange One [Donald Trump] is going to announce, with the President confirming a huge boost to defence spending as promised during his campaign. 

    "Now Trump has to deliver on slightly more complicated matters, namely healthcare and tax reforms – failure to do so could plant some further seeds of doubt in those indices sent to highs on the back of his bombastic claims."

  4. Giant steps are what you'll take...published at 08:06 Greenwich Mean Time 28 February 2017

    Moon planeImage source, Getty Images

    Two tourists have booked their places to fly around 300,000 miles, swinging around the moon and coming back.

    The flight with private rocket company SpaceX, is planned for late next year.

    "This is a sea change in the exploration of space," says David Whitehouse, astronomer and author.

    "In America there are four private companies, or consortia building their own space capsules, building their own rockets to put people into space.

    "Around the moon will be for very rich people for the next five or six years, but I'm sure in ten years time you may well be able to buy a ticket to walk on the surface of the moon."

  5. Listen: Is your landline bill about to go down?published at 07:55 Greenwich Mean Time 28 February 2017

    Today Programme
    BBC Radio 4

    Media caption,

    Ofcom plans to force BT to cut landline-only bills by at least £5 a month

  6. 'Bikini airline' soars in public listingpublished at 07:49 Greenwich Mean Time 28 February 2017

    VietJet staffImage source, VietJet Air

    Shares in Vietjet, the low-cost Vietnamese airline, leapt 20% today after its listing on the Ho Chi Minh City stock exchange. 

    Investors are feeling confident in the country's airline industry, which has grown rapidly and steadily opened up to foreign investment.

    VietJet - which is known for its PR stunts, including putting stewardesses in bikinis or skimpy uniforms - is hoping to capitalise on this. 

    However, there's caution over whether it can export its model to new markets as planned. 

  7. Mortgage market 'vibrant'published at 07:46 Greenwich Mean Time 28 February 2017

    Today Programme
    BBC Radio 4

    London MaratonImage source, Getty Images

    Virgin Money Holdings, external reported a pre-tax profit of £194m up 41% on the previous year.

    Mortgage lending was up 11%.

    "The mortgage market remains quite vibrant, beyond my expectations," said Jayne Anne Gadhia,Virgin Money's chief executive.

  8. Taylor Wimpey says Brexit risks 'reduced'published at 07:39 Greenwich Mean Time 28 February 2017

    Building siteImage source, Getty Images

    Taylor Wimpey has said the risks of Brexit to the construction market have reduced, as it announced a strong set of results for 2016. 

    Sales at the homebuilder rose 17.1% during the year to £3.6bn, while profit before tax climbed 21.5%.

    "The early signs of stability and resilience of the market following the EU Referendum, which were encouraging, continued and we believe the risk of material impact from this in the short term has significantly reduced," it said.

    Rival Persimmon reported similarly strong results yesterday as it heralded a "confident" UK housing market.

  9. Elderly, loyal customers to see landline bill fallpublished at 07:29 Greenwich Mean Time 28 February 2017

    Today Programme
    BBC Radio 4

    Around a million people in their late 70s only rent a landline from BT, says Sharon White, chief executive of Ofcom.

    They have seen the cost of their landline rise by about a third in recent years, while BT's costs have fallen by about a quarter, she says.

    Many of them have been with BT for decades, adds Ms White.

  10. Fresnillo profits leap as metal prices bounce backpublished at 07:28 Greenwich Mean Time 28 February 2017

    MinerImage source, Getty Images

    Miner Fresnillo saw its profits leap in 2016 as it sold more raw materials and metal prices rebounded. 

    Adjusted revenue climbed 29.2% to $2bn while gross profit jumped 103.7% to $882.1m.

    The FTSE-listed firm said: "Precious metal prices, while still volatile, performed well in 2016 and reversed their downward trend spanning several years."   

  11. Talks confirmed over 'Cheesegrater' salepublished at 07:24 Greenwich Mean Time 28 February 2017

    Leadenhall Building, LondonImage source, Getty Images

    British Land has confirmed, external that it is in "advanced talks" to sell The Leadenhall Building, a distinctive office building in London, also known as the Cheesegrater.

    British Land co-owns the building with Oxford Properties.

    The Times reports that China's CC Land is willing to pay £1bn for the property, which would make the transaction one of the biggest ever UK land deals.

  12. Greggs warns of inflation pressurespublished at 07:18 Greenwich Mean Time 28 February 2017

    A Greggs outletImage source, PA

    Baker Greggs has warned that rising inflation could hit its margins going forward. It also said rising labour costs were an issue too.

    The firm  said sales had increased, external 7% to £894.2m in 2016, while pre-tax profit rose from £73m to £75m.

    It also said it had extended its choice of hot food and drinks, and that "healthier options" now accounted for over 10% of sales.

  13. UK regulator to take action over landline chargespublished at 07:05 Greenwich Mean Time 28 February 2017
    Breaking

    More than two million people, who only buy a landline telephone service from BT will see their monthly bills cut by a least £5 a month, according to the regulator Ofcom.

    Sharon White, Ofcom chief executive, said: “Line rental has been going up, even as providers’ costs come down. This hurts people who rely on their landline the most, and are less likely to shop around for a better deal. We think that’s unacceptable."

  14. Plenty of blame to go aroundpublished at 07:00 Greenwich Mean Time 28 February 2017

    Newspapers

    Was it the French? Brussels? The London Stock Exchange?

    The newspapers this morning are looking for who it to blame for derailing the takeover of the London Stock Exchange by Deutsche Boerse.

    The Times blames the French who, it says, wanted a bigger share of the European market for clearing trading activities.

    The Daily Telegraph blames regulators in Brussels for not accepting concessions put forward by the two firms. 

    Meanwhile the Financial Times says the London Stock Exchange was to blame, for rejecting last minute demands from Brussels.

  15. Scrapping triple lock a 'bad idea' - former pensions minister published at 06:57 Greenwich Mean Time 28 February 2017

    BBC Radio 5 live

    Steve Webb, former pensions minister

    More on the pension triple lock. Steve Webb, who was pensions minister in 2010, when the policy was brought in, says scrapping it in 2020 would be a bad idea despite what others believe.

    "The reason it was brought in was that for 30 years the value of the pension had been eroded... It was just linked to prices and that meant as everyone's average wages were going up, pensioners were being left behind." 

    He doesn't believe pensions are too generous either. 

    "Most state pensioners today get £119 a week," he says, and "bear in mind that most don't have generous private pensions [to top this up]."

  16. Asian stock markets: No big movespublished at 06:45 Greenwich Mean Time 28 February 2017

    Nikkei stock boardImage source, Getty Images

    Asian stock markets have been subdued ahead of a much anticipated budget speech by US President Trump later in the day. 

    The region's largest market, Japan's Nikkei 225 is setting the tone, wrapping they day flat. Australia's ASX also finished flat, while South Korea's Kospi edged up by 0.3%.

    “There’s definitely been a lack of conviction among investors today,” according to Gary Huxtable of Atlantic Pacific Securities. "Tonight’s speech from President Trump is playing on investors’ minds."

    Chinese markets are still open with the Shanghai Composite currently also flat and the Hang Seng in Hong Kong down 0.5%. 

  17. Pensioners say 'triple lock vital'published at 06:44 Greenwich Mean Time 28 February 2017

    BBC Radio 5 live

    Some older listeners have objected to MP Frank Field's call to scrap the pension triple lock.

    One told Radio 5: "So many pensioners are not well off... And thanks to age discrimination and automation I'm not sure what jobs would be available for people over the age of 70 [to top up their incomes]."

    Another, Malcolm, said: "I've paid National Insurance for so long and only get £8,000 a year from my state pension. Try living on that." 

  18. PwC makes the front pagespublished at 06:38 Greenwich Mean Time 28 February 2017

    Martha Ruiz and Brian Cullinan, PwC accountants

    It's not often that accountants make the front pages, but Martha Ruiz and Brian Cullinan from PwC are widely pictured holding briefcases containing the Oscar results.

    If only they had known the calamity that was ahead of them! Later a mix-up caused the wrong movie to be given the Best Picture award. 

    PwC, which counted the Oscar votes has apologised for the shambles and now the organisers of the awards are reviewing the firm's performance. 

  19. Pension 'triple lock' must go - Frank Fieldpublished at 06:36 Greenwich Mean Time 28 February 2017

    BBC Radio 5 live

    Frank Field MPImage source, PA

    The "triple lock" on pensions - which guarantees that they rise by the same as average earnings, the consumer price index, or 2.5%, whichever is the highest - must be scrapped after 2020, says MP Frank Field.

    The Work & Pensions Select Committee chairman told the BBC that keeping it could cost taxpayers an additional £50bn by 2050. 

    We'd also have to raise the retirement age to well into our 70s.

    Moreover, most of the cost of keeping it would fall on younger, working age people - many of whom could be "reduced to destitution", Mr Field said.

  20. Extra time for Brexit negotiations?published at 06:25 Greenwich Mean Time 28 February 2017

    Today Programme
    BBC Radio 4

    Adam Marshall is Director General of the British Chambers of Commerce.

    He says that if the UK can't reach the right deal with the European Union over Brexit, then there should be an extenstion to talks.

    What would be the right deal?

    Well, Mr Marshall wants "frictionless trade" and a "light-touch customs regime". He also wants an agreement on what happens to VAT and an agreement that would make it straightforward to hire workers from the European Union.

    The BBC's Dominic O'Connell points out that it sounds a lot like being a member of the European Union.