Finance

Danske Bank Chief Executive Thomas Borgen has quit after he was embroiled in a huge money-laundering scam. An investigation into the bank’s dealings discovered a potential £177bn fiddle through its Estonian operation,between 2007 and 2015. The Danish bank said many of those payments were suspicious. Mr Borgen said: "Even though the investigation conducted by the external law firm concludes that I have lived up to my legal obligations, I believe that it is best for all parties that I resign."...

Nobu Su claims Fred Goodwin used his cash to keep struggling bank afloat

The latest Z/Yen Global Financial Centres Index showed New York overtaking the UK's capital for the first time since 2015. The City think tank said there was evidence London had been knocked, but only slightly, by uncertainty over Brexit. However, it doesn’t make great reading to see London knocked off its perch as we approach the potential stormy waters of Post-Brexit Britian. Zurich, Frankfurt, Amsterdam, Vienna, and Milan moved up the rankings significantly. The study reported: "These centres may be...

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...