Gold and silver prices seesaw as FTSE 100 hits record high

Gold and silver prices seesawed on Monday, after a “meltdown” in the metals market deepened and rattled investors around the world.Gold prices tumbled by as much as 8% to $4,465 an ounce on Monday, ending a run of record highs that took it to nearly $5,600 last week. It later recovered some ground, but was still down by 3.5% at $4,700 in afternoon trading.Silver fell by as much as 7%, after a 30% slump on Friday, before recovering slightly to $79

FTSE 100 ends day at closing high after gold and silver fell in ‘metals meltdown’ – as it happened

Oof! Britain’s stock market has now shrugged off its earlier worries, and hit a new alltime high.With the slump in metal prices easing, the FTSE 100 has bounded ahead to hit a fresh record peak of 10,298 points, up 0.7% today.Mining companies have recovered most of their earlier losses, helped by a moderate recovery in precious metal prices after their tumble early this morning.And finally…

UK manufacturing growth accelerates as export orders rise

British manufacturers enjoyed one of their best months since Labour came to power in January, according to a closely watched survey, adding to signs that the Bank of England will decide to keep interest rates on hold this week.The purchasing managers’ index (PMI), which measures activity in the private manufacturing sector, rose to 51.8 in January from 50.6 in December, the best reading since August 2024. Any reading above 50 represents growth

Royal Mail-owned courier faces tribunal over drivers’ rights

Dozens of drivers are taking legal action against a Royal Mail-owned courier service, arguing that they are entitled to workers’ rights.The 46 drivers are classified as self-employed by eCourier. They work around the clock making deliveries, including transporting vital blood and tissue samples to and from NHS hospitals.Their case, due to be heard at an employment tribunal this year, alleges that the company has wrongly categorised them as self-employed despite features of their work that they say point to worker status. Such a classification would confer rights such as the minimum wage and holiday pay

UK investor Michael Flacks ‘very interested in British Steel takeover’

The British investor Michael Flacks is reportedly “very” interested in buying British Steel and combining it with another plant in Italy, in a deal that would create one of Europe’s largest metals groups.The businessman’s Miami-based investment group, Flacks Group, which specialises in buying distressed companies, is working with bankers to prepare a bid for government-controlled Scunthorpe steelworks, the Financial Times reported.“Somebody has to take control of British Steel. It’s a plant of national importance,” he told the FT. “I see an amazing opportunity where most people have overlooked this sector

UK hospitality firms demand more help with business rates amid questions over Heathrow discount

Struggling hotels, restaurants and nightclubs are calling for more financial help with business rates after it emerged that Heathrow is among the biggest beneficiaries of a multibillion-pound package of state support.The UK’s biggest airport is in line for a discount of nearly £900m on its rates bill over the next three years. That is a fifth of the total £4.3bn “transitional relief” fund announced by the chancellor in the budget for all businesses facing big bill increases.Heathrow’s rates bill will still rise by £50m to £171m this year, according to figures compiled by the property firm Avison Young and first reported by the Sunday Times