10 h. ago Bank of England boss Andrew Bailey 'very concerned' about Trump's Fed attacks

Bailey told MPs the attacks had created 'a very serious situation' and threats to central bank independence are 'a very dangerous road to go down'.

Politics

10 h. ago Bank of England chief warns attacks on central bank independence are ‘dangerous’

Andrew Bailey said he was ‘very concerned’ by independence issues facing the US’s Federal Reserve.

Events

13 h. ago Wetherspoons bans Scottish bank notes in England but can pub chain actually do that?

You'll often hear people argue their cash is "legal tender" and must be accepted, but that's not actually the case.

Politics

26 h. ago Cashless society concerns as survey suggests 48% of people carry physical wallet

Some 7% of people said they carry no cash at all, according to a report for cash access and ATM network Link.

Politics

53 h. ago Starmer seeks to wrest back policy control from Treasury in No 10 shake

Prime minister brings in chancellor’s deputy and former Bank of England chief to newly created senior roles• Downing Street shake-up: who’s in and who’s out at No 10Keir Starmer has attempted to wrest back control of economic policy from the Treasury by bolstering his No 10 team, bringing in the chancellor’s deputy and a former Bank of England chief to senior roles.Ahead of what is likely to be a tumultuous autumn for the government, he created two new roles with Darren Jones put in charge of day-to-day delivery and Minouche Shafik appointed the prime minister’s chief economic adviser. Continue reading...

Events

6 d. ago Windfall tax on banks could recoup QE losses and raise £8bn a year, IPPR says

Hiking a levy on the profits of major firms could raise up to £8 billion a year for public services, the IPPR said.

Economics

6 d. ago Windfall tax on banks could raise £8bn a year, Rachel Reeves told as she seeks to plug Budget black hole

This money is then partly being funnelled to bank shareholders due to a ‘flawed’ policy design, a new report says

Economics

6 d. ago Liz Truss warns there is ‘a reckoning coming’ for central banks, and backs Trump in Fed battle; US growth revised higher amid AI boom – business live

Rolling coverage of the latest economic and financial news, as former PM criticises Bank of England and claims UK faces ‘economic doom loop’People in the UK: how have you been affected by the rise in food prices?The FCA’s investigation into Drax comes five months after the company’s former top lobbyist accused it of “misleading the public, government and its regulator” over its sourcing of wood for biomass pellets.In a claim for unfair dismissal, Rowaa Ahmar, Drax’s former head of public affairs, said evidence suggested Drax was “unable to prove that it only sourced sustainable wood for its biomass, and that it was in fact using unsustainable wood”. Continue reading...

Events

6 d. ago Liz Truss backs Trump attacks on Fed and says ‘reckoning’ on way for central banks

Britain’s shortest-serving prime minister also critical of Bank of England and European Central BankBusiness live – latest updatesDonald Trump’s assault on the independence of the US Federal Reserve has been backed by Liz Truss, the shortest-serving British prime minister in history, who was ousted after a meltdown in the financial markets.The former Conservative leader, who during her 49 days in power in late 2022 railed against the “deep state” and the Bank of England for undermining her before she was ejected from office by her own party, said a “reckoning” was coming for the world’s most powerful central banks. Continue reading...

Politics

6 d. ago Liz Truss warns there is ‘a reckoning coming’ for central banks, and backs Trump in battle with Fed – business live

Rolling coverage of the latest economic and financial news, as former PM criticises Bank of England and claims UK faces ‘economic doom loop’People in the UK: how have you been affected by the rise in food prices?The FCA’s investigation into Drax comes five months after the company’s former top lobbyist accused it of “misleading the public, government and its regulator” over its sourcing of wood for biomass pellets.In a claim for unfair dismissal, Rowaa Ahmar, Drax’s former head of public affairs, said evidence suggested Drax was “unable to prove that it only sourced sustainable wood for its biomass, and that it was in fact using unsustainable wood”. Continue reading...

Events

6 d. ago Coin collector urges people to search for 'super rare' piece worth £4,000

The purpose of these coins were for a limited edition Christmas gift for Bank of England customers. Now if you own one of these in your pocket, it could be worth around £4,000

Economics

8 d. ago Why I'm now convinced the Premium Bond prize rate will be slashed in October: SYLVIA MORRIS

National Savings & Investments announced that it has raised £2.5bn from us between April and June - the first quarter of its financial year.

Politics

8 d. ago Bank of England policymaker calls for interest rates to stay on hold for longer

Catherine Mann, a member of the Bank’s Monetary Policy Committee (MPC), said keeping rates at the current level was ‘appropriate right now’.

Events

8 d. ago Federal Reserve governor 'fired' by Trump issues scathing rebuke claiming president has no authority over central bank

Cook's sacking was the first in the 111-year history of the Federal Reserve, as Trump all but guaranteed a replacement that would back the president's calls to slash interest rates.

Politics

9 d. ago Bank of England governor says UK faces ‘acute challenge’ from sick and ageing workforce

‘We are well at the bottom of the league table’, said the senior policymaker

Economics

9 d. ago Every UK bank holiday coming in 2026 so you can book your holiday now

Today is the August bank holiday and it marks the last long weekend before Christmas in England and Wales - but what bank holiday dates are coming up in 2026?

Politics

1 week ago Almost all short prison sentences to be scrapped in bid to solve UK jails crisis

Justice Secretary Shabana Mahmood is planning extreme changes to the justice system in a bid to try and ease the overcrowding in prisons and slash reoffending rates

Events

1 week ago Britain facing ‘acute challenges’, Andrew Bailey tells economic summit

Bank of England chief tells Jackson Hole event of concern about weak growth and fall in worker numbersBritain faces an “acute challenge” from its weak underlying economic growth and a drop in the number of workers since the pandemic, according to the Bank of England governor, Andrew Bailey.A rise in the number of people defined as long-term sick and a big drop in young people in work – factors that he suggested might be intertwined – added to the squeeze created by an ageing population. Continue reading...

Politics

1 week ago UK faces ‘acute challenge’ from weak growth and shrinking workforce, says Andrew Bailey

Bank of England governor tells Jackson Hole summit that ageing population is adding to the squeezeBritain faces an “acute challenge” from its weak underlying economic growth and a drop in the number of workers since the pandemic, according to the Bank of England governor, Andrew Bailey.A rise in the number of people defined as long-term sick and a big drop in young people in work – factors that he suggested might be intertwined – added to the squeeze created by an ageing population. Continue reading...

Politics

1 week ago Botswana was once ‘at risk of extinction’ from HIV. Now it is a world leader in eliminating the virus in children

The pioneering African country is lauded for slashing rates of mother-to-child transmission to just 1.2% and is holding trials that may now hold the key to curing young peopleAt the turn of the century, HIV was so rampant in Botswana that politicians and doctors viewed it as an existential threat. One in eight infants were reported to be infected at birth, while rates of mother to child transmission either through pregnancy, childbirth or breastfeeding ranged from between 20 and 40%, according to UNAIDS. Between 1990 and 2000, mortality among children under five almost doubled due to HIV.With a population of just 1.7 million people, no cure available and the second-highest HIV prevalence in the world, the country’s then-president, Festus Mogae, declared in 2001: “We are threatened with extinction.” Continue reading...

Politics