Finance

These are turbulent times and the Governor of the Bank of England is going to extend his period in the role before stepping down. He will now remain in post until January 2020. Carney said in a letter to UK treasury chief Philip Hammond. "I recognise that during this critical period, it is important that everyone does everything they can to support a smooth and successful Brexit," Carney is the first foreigner to run Britain's central bank, and was appointed...

Millions of Brits are being plunged into debt because they are left with just £6.60 a day to get by on after bills have been paid. According to research, a quarter of adults are using credit cards and overdrafts as an extension of their bank balances as the buy now, pay later culture pushes them into the red by £1,222 a year. Half of workers forced to borrow to make ends meet - and money now a bigger worry than...

Citizens Advice is helping someone with bailiff-related problems every three minutes as many in Britain finds itself descending into poverty with no lifeline in sight. UK households have fallen behind on essential bills such as council tax and electricity by as much as £18.9 billion, according to the independent charity, with total debts of almost £7.5 billion in tax credit overpayments, £2.84 billion in council tax and £2.2 billion in water bills. The damning report shows that household debt has...

Action Fraud reported more than 200 scams in June and July where victims lost an average of £10,000 trading in the digital currency - using social media and cold calls.

The influence of machine learning, a strand of artificial intelligence (AI), is spreading through various industries. Over three-quarters of businesses are now pouring money into "big data", setting the stage for machine learning to grow much further in reach over the next few years.

The financial services industry must “unite and fight” against a no-deal Brexit that potentially erodes clients’ rights and damages the financial sector itself, warns the boss of one of the world’s largest independent financial services organisations. The warning from deVere Group founder and CEO, Nigel Green, comes as the UK's International Trade Secretary, Liam Fox, said that Britain should accept a ‘no-deal’ scenario, instead of requesting more negotiating time. It also follows MPs being told earlier this week by the Association of British Insurers that...

Foreign exchange bureaus at one of Britain's busiest airports were offering just €0.89 for each pound today ahead of the big summer getaway. With schools across the country set to close for the holidays in the coming week the pound to euro exchange rate hit one of the lowest rates ever seen. The pound fell below $1.30 on Thursday - its lowest level since September last year -after a surprise fall in retail sales in June, confounding expectations of an increase....

The Government’s refusal to change its position on monthly calculations for Universal Credit payments will continue to unfairly punish the self-employed, IPSE (the Association of Independent Professionals and the Self-Employed) said today. The Government ruled out making changes to the system of monthly calculations in its response released today to the Work and Pensions Committee ‘Universal Credit for the Self-Employed’ report. IPSE’s Policy Development Manager, Jordan Marshall, comments:“It is disappointing that the Government hasn’t listened to the repeated warnings of industry, trade...

Gone are the days of carriage clocks, uncomfortable presentations and a pat on the back as you clear out your desk at age 60 or 65. Retirement at a certain age is no longer a foregone conclusion (if it ever was). These days, people can retire at any age, but many keep working into their 70s and even beyond. Is there really a right time to retire? Let’s take a look at retirement through the ages and some of the...