Business
FTSE 100 edges lower in quiet end of year trade
Stock prices in London closed mixed on Monday, after a day of quiet trading at the start of another holiday-shortened week, as FTSE 250 firm International Personal Finance agreed to a £543 million takeover.
The FTSE 100 index closed down 4.15 points at 9,866.53. The FTSE 250 index ended up 93.01 points, 0.4%, at 22,407.51, and the AIM All-Share closed down 0.09 points at 760.14.
In European equities on Monday, the CAC 40 in Paris closed up 0.1%, while the DAX 40 in Frankfurt ended 0.1% higher.
The pound was quoted at 1.3491 dollars at the time of the London equities close on Monday, down from 1.3510 dollars at the time of the early London equities close on Wednesday. The euro was lower at 1.1757 dollars from 1.1790 dollars. Against the yen, the dollar was trading at 156.04 yen, up from 155.92 yen.
Late on Friday, around the time of the closing bell on the New York Stock Exchange, the pound traded at 1.3504 dollars, the euro at 1.1780 dollars, and the dollar bought 156.50 yen.
London’s financial markets opened on Monday for the first time since last Wednesday, after closing for Christmas Day and Boxing Day.
The markets will close early this Wednesday, before the New Year’s Day holiday on Thursday. The market reopens on Friday for a full trading day.
This week’s global economic calendar has minutes from the December Federal Open Market Committee meeting on Tuesday, before a swathe of manufacturing PMI readings on Friday.
Stocks in New York were lower. The Dow Jones Industrial Average was down 0.5%, the S&P 500 index retreated 0.5%, and the Nasdaq Composite fell 0.7%.
The yield on the US 10-year Treasury was quoted at 4.12%, narrowing from 4.16% on Wednesday. The yield on the US 30-year Treasury was quoted at 4.80%, slimmed from 4.82%.
Pending home sales in the US grew by more than expected in November.
According to the National Association of Realtors, pending home sales rose 3.3% on-month in November. This figure surpassed the FXStreet-cited consensus, which had projected a rise of 1.0% during the month.
On a year-over-year basis, pending home sales increased by 2.6%.
According to NAR chief economist Lawrence Yun, “homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023”.
Brent oil was down at 61.48 dollars a barrel at the time of the London equities close on Monday from 62.58 dollars at the time of the early London equities close on Wednesday. However, it was up from 60.32 dollars at the time of the New York equities close on Friday.
Gold bought 4,336.60 dollars an ounce at Monday’s close, down from 4,492.58 dollars on Wednesday and from 4,528.06 dollars on Friday. Gold had hit a record high above 4,549 dollars an ounce on Friday.
In London, International Personal Finance led the way on the FTSE 250 index as its shares jumped 5.9%. The firm said it has agreed a G£543 million all-cash takeover by BasePoint Capital, with the acquisition expected to complete in the third quarter of 2026.
Under the terms of the offer, IPF shareholders will receive 235 pence in cash for each share, valuing the provider of credit products and insurance services at around £543 million. IPF shares closed at 220.00p on Wednesday.
The offer represents a premium of around 31% to IPF’s closing share price of 179.2 pence on July 29, the last trading day before the company entered an offer period.
The agreed offer follows a series of approaches from BasePoint earlier this year. In September, IPF said it had received an improved indicative proposal of 235p per share, raised from an initial 220p approach made in July, and indicated at the time that its board would be minded to recommend the offer if a firm bid were made.
IPF’s board has unanimously recommended the offer, and completion of the acquisition is subject to shareholder approval.
Chairman Stuart Sinclair said: “Whilst the board continues to believe in the strategy and long-term prospects of IPF on a standalone basis, we recognise that the acquisition allows IPF shareholders to monetise their entire investment for cash at a fair price.
“We believe that the business will benefit from BasePoint’s ownership and its commitment to fulfil IPF’s purpose of building a better world through financial inclusion.”
Elsewhere, Everyman Media shares closed flat after chief executive Alex Scrimgeour stepped down with immediate effect, as analysts said “time had run out” for the boss after a profit warning and the resignation of the finance director earlier this month.
Mr Scrimgeour’s departure follows finance director Will Worsdell’s resignation two weeks ago. He is leaving at the end of March.
The London-based premium cinema chain has appointed Farah Golant, currently non-executive director, as the interim chief executive.
“Farah has extensive experience across the global creative, entertainment and media industries, and a track record of accelerating growth and cultivating high performance, results-oriented organisations,” said Philip Jacobson, the company’s non-executive chairman.
“Everyman has now lost both its chief executive and its finance director over the past fortnight,” said Dan Coatsworth, head of markets at AJ Bell. “That’s unfortunate timing and means the pressure is on to find a new leadership team fast.”
“The share price fell by 76% during his tenure and time had run out,” he added.
Mr Scrimgeour has stepped down after Everyman’s profit warning earlier this month, where it said it was “operating in a challenging economic environment” with recent UK box office performance “weaker than anticipated”.
“It’s fair to say that 2025 wasn’t a golden year for new film releases, making matters worse for Everyman. Its recent profit warning was blamed on a weak fourth quarter film state, and the release schedule for the next few months doesn’t instil much optimism,” said Mr Coatsworth.
The biggest risers on the FTSE 100 were Fresnillo, up 82.0 pence at 3,282.0p, Glencore, up 8.3p at 402.6p, Convatec, up 5.0p at 243.0p, Anglo American, up 57.0p at 3,069.0p, and Entain, up 14.0p at 764.6p.
The biggest fallers on the FTSE 100 were Babcock International, down 33.0p at 1,227.0p, Hiscox, down 21.0p at 1,407.0p, British American Tobacco, down 60.0p at 4,155.0p, BT Group, down 2.5p at 182.3p, and Halma, down 43.8p at 3,524.2p.
On Friday’s economic calendar are minutes from the latest meeting of the US Federal Open Market Committee as well as house price index figures for the US.
There are no events scheduled on Tuesday’s local corporate calendar.
– Contributed by Alliance News
Business
Piyush Goyal Dismisses Rahul Gandhi’s Farmer Meet Video, Rebuts ‘Fake Narrative’ On India-US Trade Deal
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The minister offered a detailed reality check to counter what he termed ‘Rahul ji’s fakery’
Goyal reiterated that Prime Minister Narendra Modi’s policies are intrinsically linked to farmer welfare. (File Photo: PTI)
Union Commerce Minister Piyush Goyal has accused Congress leader Rahul Gandhi of orchestrating a “fake narrative” aimed at provoking India’s farming community. Responding to a video released on social media by the Leader of the Opposition on Friday, Goyal dismissed the interaction as a stage-managed performance featuring Congress activists masquerading as genuine farmer leaders. He asserted that the dialogue followed a predetermined script designed to mislead the public regarding the safeguards in the recent India-US trade deal.
Rahul Gandhi has alleged that “any trade deal that takes away the livelihood of farmers or weakens the food security of the country is anti-farmer”. He was pointing to the recently concluded India-US framework agreement for bilateral trade, which is expected to be signed after tweaks by the end of March.
Piyush Goyal offered a detailed reality check to counter what he termed “Rahul ji’s fakery”, placing on record that the Narendra Modi government has fully protected the interests of annadatas, fishermen, MSMEs, and artisans. The minister categorically clarified that sensitive crops like soyameal and maize have been granted no concessions whatsoever in the agreement, ensuring that domestic farmers remain shielded from competitive pressure. He criticised the opposition for repeating “baseless allegations” in an attempt to instill unnecessary fear among the rural population.
Addressing specific claims regarding apple and walnut imports, the minister provided a technical breakdown of the protectionist measures in place. He noted that while India already imports approximately 550,000 tonnes of apples annually due to high domestic demand, the new US deal does not allow unlimited entry. Instead, a strict quota has been established, far below current import levels, and subject to a Minimum Import Price (MIP) of Rs 80 per kg. With an additional duty of Rs 25, the landed cost of US apples will be roughly Rs 105 per kg—significantly higher than the current average landed cost of Rs 75 per kg from other nations—thereby ensuring Indian growers are not undercut. Similarly, for walnuts, the US has been offered a modest quota of 13,000 metric tonnes against India’s total annual import requirement of 60,000 metric tonnes, making it impossible for the deal to harm local producers.
Goyal also took a swipe at the historical record of the Congress party, pointing out the irony of its current stance. He reminded the public that during the Congress-led UPA era, India imported nearly $20 billion worth of agricultural products, including dairy items, which the current administration has strictly excluded from the US pact. He challenged Rahul Gandhi to explain his “betrayal of farmers” and questioned how much longer the opposition intended to peddle fabricated stories.
Concluding with the slogan “Kisan Surakshit Desh Viksit”, Goyal reiterated that Prime Minister Narendra Modi’s policies are intrinsically linked to farmer welfare. He maintained that the India-US agreement is a balanced framework that opens new markets for Indian exports like basmati rice and spices while keeping the nation’s agricultural backbone secure.
February 14, 2026, 05:29 IST
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Business
Without Rera data, real estate reform risks losing credibility: Homebuyers’ body – The Times of India
New Delhi: More than 75% of state real estate regulators, Reras, have either never published annual reports, discontinued their publication or not updated them despite statutory obligation and directions from the housing and urban affairs ministry, claimed homebuyers’ body FPCE on Friday. It released status report of 21 Reras as of Feb 13.The availability of updated annual reports is crucial as these contain details of data on performance of Reras, including project completion status categorised by timely completion, completion with extensions, and incomplete projects. The ministry’s format for publishing these reports also specifies providing details such as actual execution status of refund, possession and compensation orders as well as recovery warrant execution details with values and list of defaulting builders.FPCE said annual report data is not only vital for homebuyers to assess system credibility, but is equally necessary for both state and central govts to frame effective policies, design incentivisation schemes, and develop tax policy frameworks.“Unless we have credible data proving that after Rera the real estate sector has improved in terms of delivery, fairness, and keeping its promises, we are merely firing in the air,” said FPCE president Abhay Upadhyay, who is also a member of the govt’s Central Advisory Council on Rera.As per details shared by the entity, seven states — Karnataka, Tamil Nadu, West Bengal, Andhra Pradesh, Himachal Pradesh and Goa — have never published a single annual report since Rera’s implementation, and nine states, including Maharashtra, Uttar Pradesh and Telangana, which initially published reports, have discontinued the practice.Upadhyay said when regulators themselves don’t follow the law, they lose the legal right to demand compliance from other stakeholders. “Their failure emboldens builders and weakens the very system they are meant to safeguard,” he said.
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Over recent quarters, payouts had gradually improved from roughly 65 percent to 80 percent and now to an average of about 85 percent in Q3FY26.
Infosys logo is seen.
IT major Infosys rolled out performance bonus payouts averaging around 85 percent for the quarter ended December 31, 2025 (Q3FY26), marking the strongest variable pay outcome for eligible employees in at least the past three-and-a-half years, Moneycontrol reported citing people in the know.
The bonus payout for mid- to junior-level employees ranges between 75 percent and 100 percent, with most employees clustering around the organisation-wide average of 85 percent, the report said. The development signals a steady recovery in variable compensation at the Bengaluru-headquartered IT services firm. Over recent quarters, payouts had gradually improved from roughly 65 percent to 80 percent and now to an average of about 85 percent in Q3FY26.
Employees are expected to receive their bonus letters over the next few days, with the payout scheduled to be credited along with their February salary.
One employee told the outlet that it is the strongest bonus outcome seen in recent years. The payout is also among the rare instances since the Covid-19 period when variable pay has approached the upper end of the eligible range.
Infosys last paid out 100 percent variable compensation during the pandemic. In the quarters that followed, payouts were lower amid macroeconomic uncertainty and a broader slowdown in client spending across global markets.
The higher payout comes at a time when global IT stocks have faced renewed pressure, driven by concerns over rapid advances in artificial intelligence and their potential impact on traditional IT services models.
Shares of global IT firms have seen sharp sell-offs in recent weeks amid heightened investor focus on AI leaders such as Anthropic. Investors fear that generative AI tools could compress pricing, automate routine services work and reduce demand for legacy outsourcing models.
Against that backdrop, the improved bonus payout at Infosys is being viewed as a signal of operational resilience and near-term performance strength, even as sentiment around the broader IT sector remains cautious.
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February 13, 2026, 21:44 IST
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