Bank of England cuts base rate to 1.5%

The Bank of England's monetary policy committee has cut interest rates by half a percentage point to 1.5%, their lowest level since the central bank was founded more than 300 years ago.Today's cut was widely expected in the City after a run of poor news on the economy, but disappointed business organisations who had clamoured for a cut of a full percentage point to 1% to unfreeze credit markets and prevent the recession from getting worse.Business groups said another big move was essential after Threadneedle Street's quarterly... [Read the full story]

David Cox: Out-of-court settlements in disputed discrimination cases have the potential to cover up misconduct and cheat taxpayers

The BBC has agreed to compensate a journalist who is leaving its staff after complaining to the Equality Commission that she has been victimised. Dot Kirby, who has been the corporation's Northern Ireland health correspondent since 1994, has had multiple sclerosis for 20 years. She alleged direct disability discrimination, disability-related discrimination, victimisation, failure to make reasonable adjustments, sex discrimination and age discrimination. Now, she is expected to receive a sum equivalent to a year's salary.However,... [Read the full story]

Taxpayers targeted by email scam

Taxpayers are being targeted by thousands of fraudulent emails claiming to come from HM Revenue and Customs (HMRC) as the self-assessment deadline draws closer.Small business owners and the self-employed are being sent fake "phishing" emails to try to trick them into handing over their bank or credit card details, claiming they are owed a tax rebate, in what HMRC is describing as "the most sophisticated and prolific scam" it has dealt with.Taxpayers who fall for the fraud risk having their financial details sold to organised... [Read the full story]

Before you sell your computer, smash the hard drive, says Which?

The only surefire way to stop criminals stealing data from secondhand computers is to destroy the hard drive, a study by Which? Computing magazine has warned.Even though people think they have wiped data from machines before they sell them on auction sites or put them onto rubbish tips, the files remain on the hard drives – and can contain vital information such as bank details and other personal data sufficient for identity theft. They can be recovered using specialist software that is widely available.The magazine recovered... [Read the full story]

Ed Miliband plays down impact on UK of Russia-Ukraine gas dispute

Hopes of big cuts in household energy bills faded yesterday as traders drove up UK prices by exporting gas to fill a growing shortage across Europe.Despite freezing temperatures and rising demand in Britain, traders switched from importing to exporting gas through an interconnector pipeline to continental Europe as a growing row between Russia and Ukraine left many countries short of supplies.British wholesale prices have leapt in recent days due to the crisis, leading to warnings that UK householders could be denied long-awaited... [Read the full story]

Bank of England expected to cut interest rates to 1.5% or less

The Bank of England's monetary policy committee is expected to chop at least half a percentage point off interest rates today, which would take borrowing costs to the lowest in more than 300 years.Having voted unanimously for three consecutive cuts in October, November and December, which took rates from 5% to 2%, the MPC is widely expected to lower them again at the end of its monthly meeting at noon today.Any reduction would take borrowing costs to the lowest since the Bank was founded in 1694 and move it closer to the... [Read the full story]

Sandra Kerr: There is still a colour bar to jobs in the UK

Sandra Kerr: Without publicly monitoring the proportion of ethnic minorities in our workforce, we won't tackle the problem of racism Read More →

Interest rate change: How would it affect you?

At 2% the Bank of England base rate is already at its lowest since 1951 following a series of swingeing cuts, and if a widely anticipated cut materialises today, it will reach a low not seen in the bank's 315-year history. Some experts are predicting a cut of 0.5%, some expect rates to fall as low as 1%. But if commentators have it right, it will not be a case of if but by how much the Bank of England will slash interest rates.A big cut should make life easier for mortgage borrowers, at least in theory. Ray Boulger, senior... [Read the full story]

Premium bonds reveal 600,000 fewer winners

The chance of winning prize money with premium bonds has plummeted in the last year, following cuts in the Bank of England's base rate, figures revealed last night.The prize fund has been halved from £114m a year ago to £57m for the 20 million people who own the tax-free, but non-interest paying bonds, and over the past year the total number of winners has dropped 600,000 to 1.1million. The amount in the prizefund is based on the equivalent of a month's interest on the value of the bonds invested, and the Bank's base rate... [Read the full story]

Anne Wollenberg asks why we don’t make the most of digital signatures

You've got an email from your bank. Or at least, it says it's from your bank. But what if it's a fake? Chances are it is: up to 150m phishing emails are sent every day, according to the Anti-Phishing Working Group (APWG). Sophos estimates that 58% of email users receive at least one each day and 22% get five or more. And people fall for them: figures from Apacs, the clearing banks' organisation, found that in the first half of 2008, online banking fraud in the UK increased by 185% to £21.4m.But if the email is really... [Read the full story]

Next Page »