Morning Round-Up: Budget 2016, LSE-Deutsche Boerse merger, oil up

Osborne prepares to deliver budget

George Osborne is readying himself to present his latest budget to MPs later today, which is expected to include an extra £4 billion in spending cuts and announce further investment into UK infrastructure.

It will also include a £1.5 billion plan to convert England’s state schools into academies, as well as allowing them to choose their own opening hours. He is also expected to warn that the “storm clouds are gathering again”.

Join us at 1230GMT as we live tweet George Osborne’s budget announcement.

LSE-Duetsche Boerse merger agreed

Deutsche Boerse and the London Stock Exchange have agreed a merger that could see cost savings of 450 million euros, and create one of the largest exchange groups in the world.

The merged firm will be domiciled in Britain and have headquarters in both Germany and the UK. LSE shareholders will own 45.6 percent of the new holding company, while Deutsche Boerse shareholders will own 54.4 percent.

In a statement on Wednesday, Deutsche Boerse said: “The combination will offer significant value creation potential.”

Oil up on output meeting

Oil prices rose again on Wednesday after falling over 2 percent in the last session, on hopes that an agreement may be reached at the upcoming meeting in Qatar.

According to Reuters, a meeting of producers will take place on April 17th, led by Saudi Arabia and Russia and with the aim of cutting output. This is expected to go ahead without the participation of Iran.




Previous articleRBS to cut 448 UK jobs
Next articleUK wage growth rose in January, alongside optimism for year ahead