The most senior female executive at the Bank has emerged as a frontrunner to be named the Old Lady's COO. Catherine Brown, the highly regarded head of human resources at the Bank, is thought to be the leading internal candidate. The 47-year-old New Zealand-born lawyer is seen by many as the obvious choice.
Click through latest news features
MONEY'S SIX OF THE BEST
'I found credit that avoids high current account charges': Going in the red is more expensive than credit card debts as banks earn billions
Banks are raking in more than £2bn a year in overdraft charges as they steadily increase the cost of borrowing on current accounts. Rather than dipping into the red on his current account, Philip Moulds has turned to Frodo. This is an online credit service set up to provide an alternative to overdrafts. ...read
DON'T MISS
- Would you pay £100m for a terraced house? Former squat on market boasting 11 receptions rooms, spa, 'wine cave' and lights controlled by an iPad
- Beware the Merkelator: As 'German Thatcher' comes to UK, why Cameron’s EU budget headache is about to become a migraine
- TONY HETHERINGTON: Blundering taxman hounds cancer victim 'My husband is a very sick man and just cannot accept being treated like this'
- Can you host Christmas for £1.77 a person? Asda offers turkey and all the trimmings on an austerity budget
- Those fools turned my 50,000 ashes to ashes: UK's biggest grower of native trees sues government for £200,000 for 'fatal delay in handling of killer fungus outbreak'
- ROS ALTMANN: Yet another pension scandal is upon us People using income drawdown should be trusted with their own money
- Shale gas could redraw the economic map of Britain But price of houses near wells could fall by 24%
- Sunday newspaper share tips: Mytrah Energy and Royal Dutch Shell
- ASK THE EXPERTS: I'm worried about my Kodak pension I am paid a pension by Kodak, which has filed for insolvency. Can I transfer my money elsewhere?
- 'Our monthly income is being cut by 58%' Pressure grows on the Coalition to do a U-turn over drawdown pension rules
- JEFF PRESTRIDGE: Don't let banks axe vital basic accounts Basic bank offer an essential financial lifeline to more than eight million customers
- Can I really get my credit card debt cleared for a fee of 20% of the amount I owe? Can this company called Highbridge do it and is it legal?
- 'Sending case by courier cost me less than airline's fees': How to avoid sneaky airline charges
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CITY & FINANCE - AND LATEST MARKET MOVES
Pressure on Marc Bolland increases as M&S; prepares to post half-year results likely to show falling profits
Marks & Spencer, which publishes figures on Tuesday, was hit by falling sales in the first quarter, with non-food sales down 6.8 per cent due to a lack of appetite for its crucial womenswear range. City analysts expect that the 2.8 per cent first-quarter fall in overall sales will not be repeated, but are predicting a 2.5 per cent decline in non-food items. An expected 1.5 per cent gain in food sales is unlikely to arrest a decline in profits.
Latest from Markets
- Catherine Brown in line to become first chief operating officer in Bank of England's 318-year history
- Pressure on M&S; boss Marc Bolland increases as retailer prepares to post half-year results likely to show falling profits
- Boom for bosses who want to sell as foreign buyers rise
- Venn Life Sciences unveils expansion plans ahead of Aim listing
- Land Securities set to reveal big name lettings in London's 'Walkie Talkie' building
- Carlyle weaves bid for carpetmaker Victoria in wake of boardroom bust-up
- Sainsbury's to stock Scratch 'make it yourself' ready meals
- Collapsed waste company Enpure left debts of £17.9m
VIEWS, TIPS & SPECIAL REPORTS
- MIDAS SHARE TIPS: India's wind farms to turn steady profit Mytrah is already making money and profits are expected to soar over the next few years
- LISA BUCKINGHAM: Interest-only mortgages are NOT a scandal There is little evidence that anyone was misled or ignorant of the risks they were taking
- INTERVIEW: New Matalan boss opens rift with call to cut VAT Allan Leighton also says more needs to be done to tackle youth unemployment
MORE MONEY NEWS & ADVICE
'Our monthly income is being cut by 58%': Pressure grows on the Coalition to do a U-turn over drawdown pension rules
Furious pensioners who saved diligently throughout their working lives – only to have their retirement income savaged by new Government rules – have contacted Financial Mail to voice their anger. Brian Jones, former owner of a West Midlands office equipment company, is one of them. ...read
'We have opened a bond to benefit our son': How to choose the investments that increase your returns
With interest on savings languishing at record lows, savers are changing their game. Martyn Richards, 32, has turned to a corporate bond fund as his first foray into investment markets. We explain all the options, including shares, retail bond and infrastructure. ...read
LISA BUCKINGHAM: Interest-only mortgages are NOT a scandal
There is little evidence that anyone was misled or ignorant of the risks they were taking, which is why calls for ‘mortgage mis-selling compensation’ are so worrying.Inherently there is little simpler to understand than a straightforward interest-only mortgage.
'Sending case by courier cost me less than airline's fees': How to avoid sneaky airline charges
A crackdown on no-frills airlines takes off next month with a ban on hidden debit card charges. But travellers will still be subject to many other obscure charges – very often on the cheapest deals. Emma Sohl found a door-to-door courier costing less than easyJet charges. ...read
INTERVIEW: New Matalan boss opens rift with call to cut VAT
The new chairman of the Matalan fashion chain... but, amazingly, Allan Leighton claims he's never had a good idea of his own. However, for a man short of ideas he is clear on what direction the Government should take to get the economy started. ...read
Personal pension holders in for a shock when estimates of retirement fund values are slashed from 2014
Can I really get my credit card debt cleared for a fee of 20% of the amount I owe?
A company called Highbridge has promised to clear my credit card debt for a 20 per cent fee. Can they do it and is it legal? ...read
Nando's nears top of the pecking order as profits soar to £54m
Profits at the fast food chain jumped from £31.5million to £53.9million on turnover of £374million in the 12 months to February. The number of stores increased from 241 to 260 and its directors declared themselves to be ‘satisfied’ with the financial performance.
DIY mechanics: Why pay an expensive garage to sort out basic car problems, when you could do the job yourself?
With one in six motorists admitting to sacrificing things they love to keep their vehicles running, an increasing number of drivers are taking mechanical matters into their own hands. Linda Harrison goes under the bonnet to meet those beating big mechanics bills and find out exactly how easy it is to fix your own car.
Comet goes bust: latest advice for customers with outstanding orders, gift cards and vouchers
Comet has officially gone administration leaving thousands of outstanding orders and customers with gift cards wondering where they stand.
Not so Comfort Inn: customer survey reveals UK's best and worst hotel chains
Comfort Inn has been rated the UK’s worst hotel chain, according to research by Which?, after customers complained about its 'cramped noisy bedrooms'. Warner Leisure Hotels came out on top of the Which? league, with a score of 79 per cent. The chain, which has the most expensive average room price at £366 per night, has 13 hotels in England and Wales. ...read
LEE BOYCE: Poor savings rates and tales of hard-selling - are we losing faith in building societies?
With building societies priding themselves as alternative from 'big bad banks,' should they be offering stalwart rates and behaving better in branches? Reader tales of mis-selling and complaints about poor rates highlight how many feel they are not doing enough.
'Do it properly or don't do it at all': Avoid cutting corners with home extensions and your property's value will reap the rewards
Proposals to lift planning restrictions on small home extensions could open the floodgates for back-yard building, but homeowners have been advised to spend more to make more on their property improvements and do their research to avoid planning mistakes that means you lose out in the long-run. ...read
Work until 70 to get your desired pension income, but women will have to work longer than men
Women face staying in work for longer than men before they can retire having met their pension goals. Falling annuity rates mean women in Britain will have to work seven months longer than men to retire with a pension income equal to the average wage.
Investing with a twist: Five investment trusts to stash in your Isa that offer something a little bit different
It may be stretching it to call them a secret weapon but investment trusts are a great place to hunt for strong performance, low charges and the odd hidden bargain away from the herd. From an out-of-favour income stalwart to how to buy a hedge fund that beat the 2008 crash, we reveal five investment trusts with a twist. ...read
Latest reports from News
- VIEWPOINT: Tough choices in United States, whoever wins election
- 'Get your books in order' alert as Revenue & Customs' deadline passes
- Eco Plastics boss: We recycle 800,000 bottles every hour
- I defeated dyslexia to take ticket to the top, says Debra Charles
- 'Rescue' investors who bought Comet stores for £2 'may walk away with £60m'
- Tote staff revolt against new owner Betfred over pay cut
- 'Our customers want hot pasties': West Cornwall Pasty Company is charging VAT despite winning tax battle
- TV probe backs reports of worsening conditions for betting shop staff
- Forces families £110m better off with financial advice funded by Poppy Appeal
- Lloyd’s of London to escape hit from Hurricane Sandy's damage claims
- Shale gas could redraw the economic map of Britain - but price of houses near wells could fall by 24%
- Creditors to Music Festival left £7.5m out of pocket after it went into administration
- HSBC to become latest bank to add millions to payout bill for PPI mis-selling
- Rolls-Royce to manufacture jet engines for U.S. spy boats
ANSWERS FROM THE Experts
- TONY HETHERINGTON: Blundering taxman hounds cancer victim
- ASK THE EXPERTS: I'm worried by threat to my Kodak pension
- Can I really get my credit card debt cleared for a fee of 20% of the amount I owe?
- Buildings insurer Sheilas' Wheels won't let me renew as it thinks I've claimed twice for conservatory work
- 'I was £1,800 in credit but nPower sent me a bill for almost £11,000!'
- ASK TONY: I paid £6,000 into this policy, so why is it now worth nothing?
- How can I attract new customers to my business without cold calling? Try this magic email
- I opened a NatWest Isa but put no money in, can I open another Isa with Sainsbury’s and save into that instead?
- Car hire complaints rack up for Goldcar in Spain
- Why can't our son get a buy-to-let mortgage for us?
Latest from Investing
- MIDAS SHARE TIPS: India's Mytrah Energy wind farms are well placed to turn steady profit
- Sunday newspaper share tips: Mytrah Energy and Royal Dutch Shell
- MIDAS UPDATE: Water purification firm HaloSource we tipped rises 30% in 25 days
- 'We have opened a bond to benefit our son': How to choose the investments that increase your returns
- INVESTMENT SPECIAL: Are shares in banks a good bet?
- Investing with a twist: Five investment trusts to stash in your Isa that offer something a little bit different
- Don't believe funds that claim you can't lose money: FSA crackdown on 'absolute return' investments
- Find an independent financial adviser
- SMALL CAPS FOCUS: Sula keen to explore iron ore potential in Sierra Leone
Latest: Mortgages & home
- 'You would never think that our house could ever flood' - and how flood victims are trapped in homes they can't insure
- LISA BUCKINGHAM: Interest-only mortgages are NOT a scandal
- Number of million-pound properties sold 'falls significantly'
- House prices fall for eighth month in a row, says Nationwide, and market will remain 'challenging' until wages grow
- 'We've paid our mortgage for 30 years but we're still £40k short': The mortgage trap that means older owners face losing their homes
- JAMES CONEY: A generation in peril...older homeowners who spent their life renting from the bank
- Rise in homebuyers successfully applying for mortgages as £80billion Funding for Lending scheme kicks in
- Nearly a fifth of homeowners who bought their property in the last five years are in negative equity
- We're financial prisoners because we can’t sell our retirement home': The 'dream' homes that have tumbled much further than house prices
- 'We've saved £600 a year with a five-year fix': Mortgage deals galore but only for those with a big deposit
- More homeowners may need equity release rescue as quarter of recent mortgages to run into retirement years
Latest from Saving & banking
- 'I found credit that avoids high current account charges': Going in the red is more expensive than credit card debts as banks earn billions
- JEFF PRESTRIDGE: Don't let banks axe vital basic accounts
- Typical family savings would run out within a week in a financial emergency
- Best savings deals vanish as top instant-access accounts and catch-free cash Isas have their rates cut yet again
- LEE BOYCE: Poor savings rates and tales of hard-selling - are we losing faith in building societies?
- Banks to pay back £12.3billion for PPI mis-selling - equivalent to £482 for every UK household
- On your side? Not if Nationwide can't even offer a simple online savings account paying more than 0.45%
- Lloyds PPI bill balloons to £5.3BILLION as surge in claims plunges state-backed bank into third quarter loss
- Old passbook accounts vanish at Santander as bank stands accused of losing life savings of customers
- VICTORY! Banks pledge to stop hiding interest rates on savers' online banking pages
LATEST ON HOUSEHOLD Bills
- 'Sending case by courier cost me less than airline's fees': How to avoid sneaky airline charges
- Energy bills postcode lottery: Thousands of households will see £50 bigger hike to bills than customers on the SAME tariff
- Happy holidays! O2 doubles worldwide roaming charges for 10million mobile customers
- The High Street may not be dead yet but it's falling apart
- EE 4G network launches across 11 cities in the UK - but will data download limits spoil the experience?
- Orange backtracks on free broadband axe - but only if customers complain
- LEE BOYCE: What’s so super about Greater Anglia's ‘super off-peak’ train fares that are just TEN PENCE cheaper?
- Energy firms benefit from £1bn of gas and electricity overpayments - with households owed refunds of £80 each
- Complaints to EDF soar 80 per cent... and that's before the latest price rise
- Winter of discontent: 3million more homes face higher bills after EDF Energy hikes gas and electricity prices by 11%
Latest: money and Cars
- Lower car premiums and summer storm damage hit insurers Direct Line and Admiral
- DIY mechanics: Why pay an expensive garage to sort out basic car problems, when you could do the job yourself?
- Car buyers haggling almost £1k off, as economic downturn means 60% pay under the asking price
- What's in a job title? Footballers and racing drivers most expensive for car insurance, while nurses are cheapest
- How much to put a Bond car in your garage? Five James Bond film classics - and one costs just £2,500
- Win £600 worth of luxury car hire with RAC
- Supermarket petrol price war continues as Asda and Tesco cut 2p off a litre of petrol
- Insurers caught snooping on credit files to make poor drivers pay more for car cover than rich ones
- Car insurance premiums driven down 2.9% in three months due to 'tough competition'
Latest from Pensions
- 'Scrap the changes to our pensions that slash payouts by up to HALF': Drawdown income limits cause misery for thousands
- 'Our monthly income is being cut by 58%': Pressure grows on the Coalition to do a U-turn over drawdown pension rules
- OPINION: Pensioners using income drawdown should be trusted with their own money
- Personal pension holders in for a shock when estimates of retirement fund values are slashed from 2014
- We need to start people saving and then worry about how much, says pensions minister
- Work until 70 to get your desired pension income, but women will have to work longer than men
- McPensions: Major employers including BBC and McDonald's join NEST as auto-enrolment kicks off
- Rise in pensioners lumbered with mortgages and debt: so is equity release that won’t eat a home’s value the answer?
Latest from Cards & loans
- Pay it back or your Cartier goes to auction! One in ten using 'posh pawnbroker' end up losing their prized possessions
- How to improve and protect your credit rating
- Over 75? Then you might find it difficult to get a new credit card
- Wonga hires No.10 insider to lobby against payday curbs as critics slam lender's 'cosy' relations with ministers
- The six best reward and cashback credit cards to use for your Christmas spending
- Is Amigo Loans really your friend? The lenders targeting borrowers backed by friends and family
- So much for the young and financially reckless - it's the over 60s who are racking up store card debt now
Latest from Holidays
- Not so Comfort Inn: customer survey reveals the UK's best and worst hotel chains
- What are your rights if Hurricane Sandy's wrecked your travel plans?
- Thousands of British travellers stranded by Hurricane Sandy: how stuck passengers can claim help from airlines
- Swizz Air: Budget airline starts charging customers £9 for taking HAND LUGGAGE on flights
- List of top ten cities in the world to visit released by Lonely Planet and the only UK destination is... Londonderry
- Free currency exchange card
- Airlines are still getting away with charging customers extra for paying with debit cards, warns Flybe
- First Choice says I'm too late to cancel my holiday - but that's only because it took two days to confirm the booking
- LEE BOYCE: Home within 15 minutes of landing from Barcelona – why flying from Southend Airport is a breath of fresh air
- ANDREW OXLADE: The early indication is that you won't bag a bargain summer holiday for 2013
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