30 h. ago Bank of England fines Mastercard’s Vocalink £11.9m over compliance failures

Vocalink says it processes more than 90% of salaries, 70% of household bills, and 98% of state benefit payments in the UK.

Economics

33 h. ago Bank of England says UK banks can increase riskier mortgage lending – business live

Rolling coverage of the latest economic and financial news, as BoE recommends banks can issue more high loan-to-income level loansCopper prices in US hit record high after Trump announces 50% tariffTrump threatens to escalate trade war amid confusion over new tariff ratesCarsten Menke, Head of Next Generation Research at Julius Baer, says the copper tariffs will be inflationary domestically in the US and deflationary internationally – which matches the price action we’ve seen since last night.Menke also points out that the jump in US copper prices (13% yesterday) is less than the 50% tariff, implying traders expect some imports will be exempt, saying:President Trump announced the imposition of 50% import tariffs at a cabinet meeting yesterday. While US-traded futures jumped on the news, the price differential is well below the tariff level, pointing to expectations of exemptions for key suppliers or expectations of different demand dynamics.As already mentioned, we remain of the con...

Economics

34 h. ago Threat of Trump tariffs ‘puts businesses at risk of going bust’

Bank of England says further rise in trade taxes could weaken demand, increase costs and make banks less willing to provide loansBusiness live – latest updatesThe looming threat of much higher tariffs amid Donald Trump’s trade war could lead to a fresh wave of companies going bust and cause financial losses for banks, the Bank of England has warned.The Bank’s financial policy committee said a rise in trade levies would compound existing vulnerabilities, with the risks to global growth and inflation having grownas a result of the president’s ever-changing border tax rates and an escalating conflict in the Middle East. Continue reading...

Events

35 h. ago UK workforce exposed if global trade war intensifies, Bank warns

Households and businesses nonetheless remain resilient, and the UK banking system is equipped to support them if conditions worsen.

Events

6 d. ago Jeremy Corbyn says ‘discussions are ongoing’ after Zarah Sultana claimed she would ‘co

Sultana announced on Thursday she was quitting Labour to join Jeremy Corbyn’s Independent AllianceMy colleague Lauren Almeida, who is running the Guardian’s business live blog, has shared the following:Rachel Reeves has not given herself enough fiscal headroom to manage public finances, Charlie Bean, the former deputy of the Bank of England has said, and has to “neurotically fine tune taxes”.About £10bn – that’s a very small number in the context of overall public spending. Government spending is about one and a quarter trillion so £10bn is a small number and it is a small number in the context of typical forecasting errors.You can’t forecast the future perfectly both because you can’t forecast the economy and you can’t forecast all the elements of public finances . The forecasts are imprecise and there is no way you can avoid that. That is a fact of life.In light of reports of atrocities committed by the Israeli government in Gaza and reports of the UK’s collaboration with Israeli ...

Politics

6 d. ago Home secretary rejects Zarah Sultana’s claim Labour failing to improve lives – UK politics live

Sultana announced on Thursday she was quitting Labour to join Jeremy Corbyn’s Independent AllianceMy colleague Lauren Almeida, who is running the Guardian’s business live blog, has shared the following:Rachel Reeves has not given herself enough fiscal headroom to manage public finances, Charlie Bean, the former deputy of the Bank of England has said, and has to “neurotically fine tune taxes”.About £10bn – that’s a very small number in the context of overall public spending. Government spending is about one and a quarter trillion so £10bn is a small number and it is a small number in the context of typical forecasting errors.You can’t forecast the future perfectly both because you can’t forecast the economy and you can’t forecast all the elements of public finances . The forecasts are imprecise and there is no way you can avoid that. That is a fact of life.In light of reports of atrocities committed by the Israeli government in Gaza and reports of the UK’s collaboration with Israeli ...

Society

7 d. ago What is true on Rachel Reeves's CV as chancellor accused of changing length of time she was at Bank of England

The Chancellor of the Exchequer has been embroiled in a scandal over the editing of her LinkedIn

Politics

7 d. ago Home buyer mortgage demand expected by lenders to soften over summer months

Households are adjusting to ‘ongoing cost pressures’, one finance expert said.

Economics

8 d. ago Voices: So the Bank of England wants ideas for new banknotes: let’s start with our war heroes

While I like the idea of launching a push for Notey McNoteface, writes James Moore, for my money Britain has plenty of eminently notable figures who haven’t had the recognition they deserve

Events

8 d. ago Rates should be cut three more times in 2025, says Bank policymaker

Monetary Policy Committee member Alan Taylor flagged a ‘deteriorating outlook’ in the UK economy as trade woes mount.

Events

8 d. ago Bank of England wants you to decide what goes on the next banknotes

Noteworthy events in history could be depicted on notes

Politics

8 d. ago Business news live: Bank of England reveals tariffs impact on interest rates and TSB could depart the high street

Stock markets updates and business news from Wednesday

Economics

8 d. ago Business news live: Bank of England reveals trade tariffs influence on interest rate decisions

Stock markets updates and business news from Wednesday

Economics

8 d. ago 'Bank of Wokeness' to ditch historical figures from banknotes in push to reflect modern diversity

The Bank of England has been accused of 'wrongheaded wokery' after revealing it could drop historical figures from banknotes to reflect modern diversity.

Politics

8 d. ago Bank of England seeks views on theme for next series of banknotes

A consultation will be open until the end of July.

Politics

9 d. ago Interest rates are still on ‘downward’ path, says Bank of England chief

Governor Andrew Bailey also highlighted weakness in the UK labour market amid increased economic uncertainty.

Events

1 week ago Rise in number of mortgage approvals to home buyers in May, says Bank of England

The increase in mortgage approvals for house purchase was described as a ‘welcome breath of fresh air’ by one housing market expert.

Economics

1 week ago Voices: When it’s Rachel Reeves vs Andrew Bailey, I know who my money’s on

The governor of the Bank of England's response to the chancellor trying to talk up the flagging jobs market is quietly devastating, writes James Moore

Politics

1 week ago Business news live: FTSE 100 latest updates with Bank of England warning of jobs market slowdown

Stock markets latest updates and business news on Friday

Events

2 w. ago Bank governor flags signs that employment tax hikes are hitting pay and jobs

Andrew Bailey also said pay growth is easing but policymakers still need to ‘squeeze out’ stubborn inflation.

Economics