Home » Archives by category » Top Stories

Pound jumps on Bank of England Governor’s rate rise hint

Pound jumps on Bank of England Governor’s rate rise hint

Image copyright Getty Images The pound jumped nearly 1% after the governor of the Bank of England suggested that interest rates could rise if business investment grows. Sterling rose to $1.2936 against the dollar after Mark Carney said that “some removal of monetary stimulus is likely to become necessary”. He said a change would depend […]

Decision on Fox’s Sky takeover due today

Decision on Fox’s Sky takeover due today

Image copyright PA Culture Secretary Karen Bradley is to announce whether 21st Century Fox will be allowed to complete its takeover of Sky later today. Ms Bradley asked regulator Ofcom to decide if the deal was in the public interest, especially around media plurality and broadcasting standards. Fox owns 39% of Sky, but wants to […]

UK house prices rebound, Nationwide says

UK house prices rebound, Nationwide says

Image copyright Getty Images UK house prices bounced back in June after three months of falls, according to mortgage lender Nationwide. House prices rose by 1.1% during the month after falling by 0.2% in May. But Nationwide economist Robert Gardner warned that “monthly growth rates can be volatile, even after accounting for seasonal effects”. The […]

Tesco to axe 1,200 head office jobs

Tesco to axe 1,200 head office jobs

Image copyright Getty Images Tesco plans to cut 1,200 jobs at its head office as part of a major cost-cutting drive. The UK’s biggest supermarket told staff on Wednesday morning about the cull, which amounts to a quarter of its workforce in Welwyn Garden City and Hatfield. Tesco is implementing a turnaround plan that aims […]

Co-operative Bank agrees £700m rescue package

Co-operative Bank agrees £700m rescue package

Image copyright Getty Images The Co-operative Bank has secured a £700m rescue package to stop the lender from being wound up. Investors have agreed to swap their debt for a stake in the bank. The bank also said it would to separate its pension fund from the Co-operative Group’s scheme, which has £8bn of liabilities. […]

Watchdog cracks down on £7tn investment industry charges

Watchdog cracks down on £7tn investment industry charges

Image copyright Reuters Investors must be quoted an “all-in fee” to make charges more transparent in a shake-up of the investment sector, the City regulator has confirmed. The Financial Conduct Authority (FCA) said that the asset management sector held the savings of millions of people. Yet despite “sustained, high profits” for these firms, there was […]

Sir Philip sold BHS to dodge pension cost, says regulator

Sir Philip sold BHS to dodge pension cost, says regulator

Image copyright PA Image caption Sir Philip Green gives evidence to the Business, Innovation and Skills Committee and Work and Pensions Committee on the collapse of BHS. The controversial businessman Sir Philip Green sold the BHS business to dodge responsibility for its insolvent pension schemes if the firm should go bust, says the Pensions Regulator. […]

Mobiles ‘fast replacing’ bank branch visits

Mobiles ‘fast replacing’ bank branch visits

Image copyright Getty Images Image caption The traditional image of bank branches is a little like this scene from the 1970s Typical consumers will visit a bank branch four times a year by 2022, turning instead to their mobile phones for services, according to forecasts. At present, people visit seven times a year on average, […]

Bank of England takes action over bad loans

Bank of England takes action over bad loans

Image copyright PA Image caption Mark Carney stressed that the UK financial system has strengthened The Bank of England has forced banks to find a further £11.4bn in the next 18 months to beef up their finances against the risk of bad loans. Banks will have to set aside £5.7bn in the next six months […]

Cash ‘lives on’ after 50 years of ATMs

Cash ‘lives on’ after 50 years of ATMs

Image copyright PA Cash will remain a part of our day-to-day lives for decades, the Bank of England’s chief cashier has said on the 50th anniversary of the ATM. Victoria Cleland said that although the use of notes and coins in transactions is falling, cash is part of all the Bank’s future plans. She pointed […]

Page 1 of 108123Next ›Last »