FTSE 100 down, rail strike cancelled [Video]

A very good morning to you, here are Wednesday’s business headlines so far.

The FTSE 100 moved lower this morning following hawkish remarks from US Fed chairman that interest rates across the Atlantic will likely peak higher than originally expected.

Insurer Admiral Group also had a rough start to the day, slashing its full-year dividend by 40% and reporting a 39% fall in pre-tax profit for 2022 to £469mln. Fellow insurer Legal & General had a brighter morning, announcing a 5% dividend hike after a 12% rise in profits to £2.5bn over the same period.

On the railways, Network Rail staff has cancelled strike action planned for the 16th March after receiving a new pay offer.

Heathrow Airport will cut passenger charges from next year, marking a win for airlines who have been lobbying the Civil Aviation Authority for lower fees.

And in small caps, energy firm Chariot Ltd (AIM:CHAR, OTC:OIGLF)soared after confirming it had completed initial engineering and …