The BCC has urged Carney to use the Bank of England's ‘influence and capital’ to back the government-supported Business Bank, which aims to fund up to £10billion of lending to small and medium firms, pointing to the success of the Business Development Bank in the new governor’s native Canada.
A year after regulators ruled that banks were guilty of widespread mis-selling of £2 billion of interest rate ‘swaps’, thousands of the small and medium-sized businesses are still waiting to receive compensation.
The group set up to protect pensioners affected by the Co-op’s plan is also pressing for the Treasury Select Committee to investigate the deal.
Hopeful first-time home buyers look set to have the best summer in four years as banks slash the size of deposit they require for their lowest rate deals and come up with a range of other incentives. Andrew Langley and Anna Glover, pictured, secured a good deal. ...read
George Osborne could release an extra £54billion to boost the economy by taking a tougher line on benefits and slashing foreign aid, according to John Longworth of the British Chambers of Commerce.
Interest rate rises are not quite yet on the horizon, but households burdened with mortgages should not be lulled into a false sense of security by more than four years of rock bottom rates.
Sales of one item, the £39 Brooke dress, quadrupled after the Duchess was reported to have taken a fancy to it, according to founder Cecile Reinaud.
While investing your retirement pot may be the solution for some, many advisers say it could expose entrepreneurs to huge risks.
Personal Finance Editor Jeff Prestridge assesses the dilemma facing savers and looks at the options for those hungry for income. One investor, Mike Ogley, pictured, believes in caution and tax efficiency.
Amex has launched a Shop Small scheme to urge consumers to shop in independents by offering £5 credit for a minimum £10 spend via Amex. Some 40,000 retailers have signed up.
By inputting their interest rate, payments, outstanding debt and expenditure, borrowers can instantly find out how long it will take to clear their balance.
A million households take out a payday loan every month, with almost 40 per cent using them for essentials such as groceries and fuel.
JEFF PRESTRIDGE:
Rates won't rise just yet - but don't get lulled into a false sense of security
Charles in tax storm
Top MP compares Prince to Starbucks and calls for him to pay more
MIDAS SHARE TIPS:
Our experimental Dogs of the Footsie portfolio outclasses Footsie
TONY HETHERINGTON on carbon credits:
There are more holes in this sales pitch than in any Swiss cheese
Are we heading for another house price bubble?
Property prices rise at their fastest rate in almost three years, says Nationwide.
Sunday newspaper share tips:
Today Midas Dogs of the Footsie, Debenhams and Rexam are under the spotlight.
Six of the best dividend shares that pay 5% or more
With low interest rates and volatile markets solid dividends look attractive
New five-year fixed-rate savings account tops the best buy tables
- but should you lock in for FIVE years with Shawbrook?
Who said economics was complicated?
New game shows how tax havens, bankers' bonuses and inequality arise... using just a pile of poker chips.
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Today Mark Carney will stride past the pink jacketed ‘waiters’ that guard the entrance to the Bank of England and march to the governor's parlour. There beneath a portrait of a great predecessor, Montagu Norman, he will begin his five-year term as chief of the central bank. On his desk he will find the following note...
A spokesman said that most of the dividend will go back into the rail business to carry out improvements. The company had also suffered a 40 per cent fall in operating profits.
The Make Your Mark programme will launch today in partnership with the Prince’s Trust charity in a bid to reduce youth unemployment.
Estimates show that Ocado, headed by co-founder Tim Steiner, will have made a pre-tax loss of about £2.3 million for the 24 weeks up to May 19, against a £1.8 million profit in the same period last year.
On average, companies give 0.4 per cent of pre-tax profits to charity but banks give nearly 0.7 per cent, amounting to £245 million in cash and £319 million of help in kind.
We round up the Sunday newspaper share tips. Today Midas Dogs of the Footsie, Debenhams and Rexam are under the spotlight.
BP’s bill for the costs associated with the Deepwater Horizon oil rig disaster in the Gulf of Mexico could reach tens of billions of dollars more than it has already spent, reckons a Gulf state official.
There is a simple way many people can boost their prospects and it won’t cost them a penny. That is by choosing the right pension income option. Just follow our guide to the ways you can draw an income from a pension in retirement, and the pitfalls to watch out for. John Harris, pictured, took out an enhanced annuity after he was told the pacemaker he had fitted in 1999 would make him eligible for one. ...read
I received literature from Global Carbon Exchange Ltd. GCE skirts round the issue of being registered with the Financial Conduct Authority, but says it works in association with a regulated firm. I wonder who that is?
The expectation is that the new Bank of England Governor will want to provide longer-term guidance on interest rates. It might prove to be the critical innovation of the Mark Carney era.
Pre-paid cards allow tourists to top up with their chosen currency at competitive rates as and when they want, and then use them just like credit cards. Cards are offered by dozens of providers such as banks, travel agents, retailers and foreign exchange firms. Flora McCrone, pictured, is heading to Thailand and has packed a pre-paid currency card.
Our experimental Dogs of the Footsie portfolio has been remarkably resilient. It is made up of the top ten highest-yielding stocks in the FTSE 100 and, even as that index has fallen in value, the Dogs have gained ground.
Company accounts filed last night show three executives saw the value of their pay packages rise from £590,000 to £1.1million last year due to lucrative share awards.
Mobile ‘instant messaging’ apps are already more popular than traditional texts – but interest is set to soar higher still when BlackBerry expands its service for smartphones next month. BlackBerry Messenger is one of the most popular apps but until now was confined to users with BlackBerry phones. It will now extend the free service to iPhone and Android. Nina Vainorius, pictured, is already a big fan of real time chat.
Nora Senior is the first woman to lead the business group in a decade, and only the second in the organisation’s 150-year history.
The Equality Trust game is being developed to teach students the foundations of economies - by allowing them to build their own.
Nationwide Building Society said house prices rose 1.9 per cent in the month compared to a year earlier - pushing the average UK price to £168,941. That was the strongest annual increase since September 2010. On a month-on-month basis, house prices rose by a more modest 0.3 per cent in June, marking a slight slowdown compared with a 0.4 per cent rise recorded the previous month.
Banks are now reviewing up to 30,000 complaints from customers since 2009, some of whom may be eligible for compensation.
Rather than traipsing to the bank and standing in a queue, consumers, tradesmen and others could take a picture of the cheque using a smartphone.
Challenger bank Shawbrook has launched a new five year fixed-rate savings account offering a 2.9% rate for those looking to tie-up cash for a prolonged period. However, many experts warn that fixing for that period of time may not offer the best value.
The energy watchdog said it had launched an investigation into Spark after receiving information about poor customer service at the supplier, which has just over 65,000 customers.
The Church of England has joined a consortium that is battling to snap up 315 Royal Bank of Scotland branches, according to reports.
Whether retirement is 40 years away or just round the corner, follow our comprehensive guide to retire in riches
Although seaside homes are expensive, they can make for shrewd investments. The High Street bank Halifax claims they have bucked the trend over the past ten years, increasing in value by 63 per cent, compared to a 30 per cent upturn in the rest of the country.
Energy price tariffs are in a constant merry-go-round with suppliers constantly battling to pinch customers from each other. We show you how to win.
I'm a 24-year-old graduate who recently changed jobs. My former employer had a pension scheme of which I was a member, my new employer doesn't have one. How can I keep on saving into this pot?
Dividend shares look attractive as savers are struggling to get a decent return, while investors are being rocked by volatile markets. But for those willing to take on some risk the yields on some of Britain’s top dividend paying shares are looking very tempting. We take a look at six of the best dividend paying shares
Despite £11.5billion of spending cuts announced for that fiscal year by the Chancellor just yesterday, the influential Institute of Fiscal Studies said tax rises of around £6billion were inevitable whoever was in power.
I am 53, self-employed and have a couple of pension pots that I froze about five years ago. How can I avoid high fees for independent advice?
Yorkshire and Chelsea building societies have taken fixed rates even lower, with a 1.64% two-year mortgage deal and a five-year fix at just 2.44%. But hefty fees underscore the need to look beyond the headline rate of a mortgage. So are these products as good as they seem? We delve deeper into the deals.
Families are being forced to dip into their savings just to make ends meet as disposable incomes plummet in the biggest quarterly drop since 1987. Disposable incomes slumped 1.7 per cent in the first three months of the year as wages fell and prices soared.
July is the sunniest and hottest month, and convertible drivers will be out in force. This is Money rounds up the best three-year old cars that can be had at big discounts to brand new.
Sir Mervyn said that many homeowners faced a debt timebomb because they had failed to use the opportunity of record low interest rates to reduce their mortgage debt.
'Lifestyled' pension schemes move the bulk of pension pot investments from traditionally more volatile equities into the supposed safe haven of bonds the closer a person gets to retirement.
My aunt has fallen out with my family since I gave her money to invest for me. Now she denying all knowledge and refusing to give me a penny.
There was one theme on which households were unified: 98 per cent thought more needed to be done to stimulate the economy, the Markit poll revealed.
Britain's property problem has been exacerbated by a house price bubble that was allowed to inflate but then never allowed to properly burst, as the pain was deemed too much for our economy to take. Now the Bank of England is dishing out funds to encourage more low rate mortgages, while warning of the perils of cheap money. What could possibly go wrong?
Banks and building societies need to raise more funding to shore up their finances - so will they entice savers with better rates to fill their coffers?
A likely surge in the number of pension transfers would make it harder for insurers and trustees to identify potential pension liberation schemes.
A whopping 323,684 homes across the country are now worth more than £1m - and 77,894 of these homeowners, or a quarter, have become property millionaires in the last 12 months. We reveal where Britain's most expensive streets are.
Financial analysts Company Watch said unsecured creditors had come out badly from the UK's recent retail bloodbath while banks and other secured lenders got the lion's share of the spoils, a BBC report said. Company Watch's research found £499m was recovered in assets from the 19 biggest retail failures since 2012.
The bank had aimed to beef up its finances by 2015, but it is concerned that the Bank of England’s Prudential Regulation Authority will force it to meet the requirements earlier.
Research In Motion shares plummeted today because the company posted a loss in the first quarter of this financial year. It also warned that it is likely to experience further losses in the second quarter.
Small business success story BrewDog is offering people the chance to invest for £95 per share as it looks to raise £4m to open new bars and increase production - but is it a good deal? This is Money crunches the numbers and asks the vital questions.
Investment companies are launching high-tech gadgets to help those people who can’t get financial advice, but need guidance making the right decisions.
Osborne promised the pension would not be included in the overall cap on welfare benefits, set to be introduced in 2015.
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A new tax year means a fresh Isa allowance to save. We pick our five favourite cash Isas for savers, don't miss this essential Isa reading that is kept up-to-date throughout the year.
The Association of Investment Companies has analysed all investment trusts to find the 20 strongest and most consistent performers of the last decade. We reveal the full list.
The bank rate is at a rock bottom 0.5%, and one day it must rise. The big question is when? We explain the factors that will decide when interest rates rise and how quickly, including the latest forecasts from markets and economists.
A five-year fix can be had at 2.49%, and borrowers with smaller deposits are also seeing cuts. So is now the time to lock in?
Property sales are finally on the up, while better mortgage deals are landing regularly. So what now for house prices?
For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Read our top ten buy-to-let tips
| Prize value | Winning bond No. | Area |
|---|---|---|
| £1,000,000 | 186GX671352 | London |
| £100,000 | 162TC515906 | Outer London |
| £100,000 | 172SZ648341 | Devon |
| £100,000 | 108KE970227 | Enfield |
| £100,000 | 74AE300312 | Havering |
| £100,000 | 10KZ370147 | Edinburgh |
| £50,000 | 109JC048402 | Wiltshire |
| £50,000 | 170KD324008 | Cleveland |
| £50,000 | 21KQ410188 | Cheshire West and Chester |
| £50,000 | 202EQ155346 | Greater Manchester |
| £50,000 | 190QF959056 | Hampshire and Isle of Wight |
| £50,000 | 62WW975874 | Stoke-On-Trent |
| £50,000 | 167TC772138 | Kirklees |
| £50,000 | 180ZH777158 | Cheshire West and Chester |
| £50,000 | 100JM092120 | Kirklees |
The best balance transfer credit cards to help clear your debts
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Save on your supermarket shop: The best rewards cards for cashback and points.
Make sure you are getting the most from your weekly food spend.
This is Money's five favourite best buy cash Isas for 2013
This is essential Isa reading and is kept up-to-date throughout the year
This is Money's five of the best current accounts
Here's our pick of the best accounts to make your money work harder.
First-time buyer's guide to getting a mortgage
This Is Money's step-by-step guide to getting the best mortgage.
The interest-only timebomb: How to get your mortgage debt cleared
We outline how to avoid the interest-only timebomb.
| Currency | Rate | Buy now |
|---|---|---|
| Updated 01 Jul 2013. | ||
| Euro | 1.0 | Buy Now |
| US Dollar | 1.5041 | Buy Now |
| Australian Dollar | 1.5935 | Buy Now |
| Canadian Dollar | 1.5543 | Buy Now |
| Chinese Yuan | 8.9912 | Buy Now |
| Croatian Kuna | 8.3968 | Buy Now |
| Czech Koruna | 29.35 | Buy Now |
| Danish Kroner | 8.4185 | Buy Now |
| Egyptian Pound | 10.113 | Buy Now |
| Euro | 1.0 | Buy Now |
| Hong Kong Dollar | 11.498 | Buy Now |
| Hungarian Forint | 329.74 | Buy Now |
| Indian Rupee | 84.263 | Buy Now |
| Japanese Yen | 147.11 | Buy Now |
| Malaysian Ringgit | 4.6397 | Buy Now |
| New Turkish Lire | 2.8628 | Buy Now |
| New Zealand Dollar | 1.9052 | Buy Now |
| Norwegian Kroner | 8.8725 | Buy Now |
| Polish Zloty | 4.8238 | Buy Now |
| Singapore Dollar | 1.8714 | Buy Now |
| South African Rand | 14.615 | Buy Now |
| Sterling | 1.0 | Buy Now |
| Swedish Kroner | 9.8815 | Buy Now |
| Swiss Franc | 1.4068 | Buy Now |
| Thai Baht | 45.377 | Buy Now |
| UAE Dirham | 5.4456 | Buy Now |
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Tony Hetherington
Tony Hazell