'Crisis economy' UK: You're in as bad a state as eurozone, says new Bank chief as IMF urges Osborne to ditch austerity packageMark Carney compared the UK to basket case countries in the eurozoneThe IMF has slashed its growth forecast for the UK over next two years By Alex Brummer PUBLISHED: 23:15 GMT, 18 April 2013 | UPDATED: 06:33 GMT, 19 April 2013 Warning: Mark Carney, who takes over from Sir Mervyn King in July, compared the UK with basket case countries in the eurozone in a brutal assessment of the economic outlook Britain was last night branded a ‘crisis economy’ by incoming Bank of England governor Mark Carney. The Canadian, who takes over from Sir Mervyn King in July, compared the UK with basket case countries in the eurozone in a brutal assessment of the economic outlook
Now give up your 240,000 pension, angry Lloyds shareholders tell ex-bank chief who presided over disastrous rescue of HBOSHBOS saddled with 238billion of debt had to be bailed out by LloydsCampaigners say pension should be paid to ordinary investors who lost outLloyds had to be bailed out with 20.5billion of taxpayers’ money in October 2008, weeks after its takeover rescue of HBOS By James Salmon PUBLISHED: 23:51 GMT, 10 April 2013 | UPDATED: 01:26 GMT, 11 April 2013 Lloyds shareholders called for former HBOS chief executive Andy Hornby to give up his 240,000 pension Furious Lloyds shareholders last night led calls for disgraced former HBOS chief executive Andy Hornby to give up his gold-plated pension worth more than 240,000 a year.
Millions of NatWest bank customers left without access to their money for four hours after computer system crashes AGAINThe majority of the bank's UK customers have been affected by IT blackoutRoyal Bank of Scotland and Bank of Ulster users also hit by glitch Online and phone banking down, ATMs broken and card payments rejected Customers have vented frustrations and threatened to quit for other banksLast year millions were unable to use cards or move money for daysThey were forced to set aside 125m compensation for those out of pocket a computer glitch resulted millions of people having trouble using their debit and credit cards for three days. Just a month later and Natwest were back in the news when more than 700,000 customers were affected by a ‘human error’ which resulted in some accounts being debited twice.
Anything to declare Man caught by customs officers entering Germany with a single cheque worth 45MILLION By Daily Mail Reporter PUBLISHED: 14:45 GMT, 3 February 2013 | UPDATED: 08:21 GMT, 4 February 2013 A man caught trying to enter Germany with a cheque worth 44.5 million is believed to have been Iran's former central bank chief. According to a German newspaper, customs officers at Duesseldorf Airport allegedly found the cheque in Tahmasb Mazaheri's luggage on January 21 upon his arrival from Turkey.
Economy SHRANK by 0.3% at the end of 2012, raising fears of a triple-dip recessionOffice for National Statistics announces negative growth for final quarter of last yearResulsts mean there was no growth overall for the whole of 2012 Nick Clegg admits government was wrong to cut funding for big building projects, damaging jobs and growth Boris Johnson says it is time to 'junk the rhetoric of austerity'IMF chief economist says the Chancellor should use the Budget in March to 'take stock' and change course , raising fears of a triple-dip recession. The figures are a devastating blow to David Cameron and George Osborne who were last night seen dining out in the Davos ski resort hours after being told of the grim economic figures.
Homeowners stung as mortgages rates hit four-year high despite Bank of England base rate remaining at historic low By Becky Barrow PUBLISHED: 00:13 GMT, 19 January 2013 | UPDATED: 09:53 GMT, 19 January 2013 Mortgage worries: Homeowners are having to face rising costs Homeowners are being stung by the highest variable mortgage rates for nearly four years despite the Bank of England keeping the base rate at an historic low. Official figures show the average standard variable rate mortgage deal, known as the SVR, from a bank or building society charges an interest rate of 4.35 per cent.
More than 4,000 jobs at risk as HMV teeters on brink of collapse: Firm calls in administrators after rescue talks fail Retailer has struggled in the face of growing demand for digital downloadsCompany had a poor Christmas sales period239 stores and 4,350 staff face uncertainty as negotiations unfold By Rob Davies PUBLISHED: 21:08 GMT, 14 January 2013 | UPDATED: 23:48 GMT, 14 January 2013 One of the most famous names on the high street, HMV, was on the brink of collapse tonight. The music chain’s demise would cost 4,000 jobs and make it the second household name to go under already this year. Administrators from City firm Deloitte were brought in tonight
Labour hits supporters with credit card charge of 18.9% – two-and-a-half times that of market's most competitive option | UPDATED: 02:04 GMT, 30 December 2012 Costly: Labour supporters will be paying through the nose in interest charges on their party's credit cards All three major political parties are profiting from credit cards that charge their supporters exorbitant rates of interest. Both Labour and the Lib Dems offer a card charging interest at nearly 38 times the Bank of England’s 0.5 per cent base rate – and more than two-and-a-half times that of the market’s most competitive card. The card, provided by the Co-operative Bank, charges a standard APR of 18.9 per cent – although richer supporters can have a premium card with a fixed rate of 11.9 per cent for five years.
City watchdog accused of being 'asleep at the wheel' in run-up to financial crash becomes a SirHector Sants, who headed financial regulator for five years, knightedFSA so discredited during financial crisis it is to be scrapped next year Mr Sants recently landed a 3 million job at scandal-hit Barclays PUBLISHED: 00:23 GMT, 29 December 2012 | UPDATED: 00:23 GMT, 29 December 2012 Honoured: Hector Sants, who spent five years as head of the FSA, has been given a knighthood despite widespread criticism of how the regulator failed during the financial crisis A city regulator accused of being ‘asleep at the wheel’ in the run up to the financial crash is knighted in the honours list. Hector Sants, who spent five years as head of the Financial Services Authority, receives the honour despite widespread criticism that the regulator had failed during the banking crisis.
HSBC will now refund customers who left money at the ATM after RBS agrees to pay customers back 10mBank will refund 300,000 customers after changing 'retraction' policyMost banks automatically refund cash to those who forget to take itUntil recently RBS would wait until complaint received before acting | UPDATED: 00:17 GMT, 27 December 2012 HSBC will offer refunds to hundreds of thousands of customers who made ATM withdrawals but forgot to pick up their cash. Those who left money in HSBC cash machines between 2005 and 2011 will receive compensation after the bank pocketed the money instead of refunding it to customers’ accounts straight away. HSBC’s move follows that of state-backed Royal Bank of Scotland, which also owns NatWest