Business

Lloyds Banking Group has introduced a new change that means millions of customers will no longer be able to open accounts in its branches, forcing them to do it online. Staff will no longer open joint, premium or student accounts in branches, nor will they switch customers from other banks.The move has been seen as a sign of "the death of branch banking", coming amid the banking group’s plans to close 162 banks by the end of 2026, with more scheduled for 2027.Internal documents seen by The Telegraph reveal that Lloyd's Bank employees will redirect customers to its app or website to open an account.Martin Quinn, of the group Campaign for Cash, said: “In-person bank branch services are vital for consumers. People do not want to talk to a machine, they want to deal with real people.“High s...

Check out whats clicking on FoxBusiness.com. A Florida man was arrested on federal charges related to an alleged cryptocurrency "Ponzi scheme" that defrauded investors of at least $328 million. The U.S. Attorney's Office for the Middle District of Florida said in a release Tuesday that Christopher Alexander Delgado, a 34-year-old from Apopka, Florida, was arrested on wire fraud and money laundering charges. If convicted on all charges, Delgado would face a maximum of 30 years in federal prison.According to the federal complaint, Delgado was the president and CEO of Goliath Ventures, formerly known as Gen-Z Venture Firm, and allegedly carried out the Ponzi scheme from January 2023 through January 2026. A Ponzi scheme involves paying purported returns to existing investors from funds...

Nobody wants a tax bill they're not expecting (Image: georgeclerk via Getty Images)Savers are being warned to act before April 5 to ensure they are not paying unnecessary tax. Paragon Bank is encouraging savers to maximise their cash ISA allowances, as fresh HMRC data reveals that more than 1.4 million basic rate taxpayers are facing an average tax bill of £641 on their savings interest.Following a Freedom of Information request to the tax authority, Paragon Bank disclosed that the number of people liable for tax on their savings had more than doubled in just three years, surging from 1.27 million in 2022/23 to 2.79 million in 2025/26. Basic rate taxpayers are particularly affected, with numbers rising dramatically from 613,000 in 2022/23 to 1.42 million in 2025/26, representing a stagg...

Check out what's clicking on FoxBusiness.com. Ford is recalling more than 4.3 million pickup trucks and SUVs due to a software issue that could cause trailer brakes not to function. The recall affects certain model year 2021 through 2026 F-150s, 2022-2026 Super Duty trucks, 2024-2026 Rangers, 2022-2026 Expeditions, Mavericks, Lincoln Navigators and 2026 Transit vehicles.When towing a trailer, the Integrated Trailer Module may lose communication with the vehicle, potentially causing a loss of brake and turn signal lights, or a loss of brake function. A model year 2021 Ford F-150 pickup truck. (Ford Motor Co. / Fox News)VOLVO RECALLS OVER 40,000 ELECTRIC SUVS WORLDWIDE OVER BATTERY FIRE CONCERNS If a vehicle experiences the communications loss, Ford said the driver will see a "T...

Savers are being urged to shop around as 10 banks and building societies prepare to cut interest rates in March. Nine out of that total are set to slash rates in the next two weeks, according to analysts at personal finance site, Finder.They say savers are still seeing the consequences of the Bank of England cutting its base rate from 4% to 3.75% in December. Kate Steere, Finder's personal finance expert, said: "These rate drops emphasise a serious gap between the highest and lowest rates on the market - with some falling as low as 1%."She calculated that a drop to 1% from the current leading rate of 4.55% would mean a difference of £682 in interest based on average savings of £19,214 after a year.Ms Steere said: "Unfortunately, there’ll be little for savers to smile about this spring, ...

'The Big Money Show’ panel discusses President Donald Trump’s push to sell falling inflation, lower gas prices and rising manufacturing growth ahead of the midterm elections. Americans are facing rising electricity costs around the country as winter weather and the rise of artificial intelligence (AI) data centers increase demands on the electric grid. Electricity prices have risen faster than the pace of inflation in the last year. January consumer price index (CPI) data from the Bureau of Labor Statistics showed electricity costs were up 6.3% from a year ago, while CPI was up 2.4% in that period.Data from the Energy Information Administration (EIA) showed that, as of December, electricity prices rose nationally from 12.82 cents per kilowatt-hour to 13.72 cents, an increase of 7.1...

Downsizing:Downsizing and buying a smaller property may be one solution if you still live in a large family home with high energy bills and maintenance costs. There are schemes in place that can help you with this. McCarthy Stone, for example, offers a Smooth Move package to help ‘declutter’ and generally streamline the moving process.Shared Ownership:You can also consider later life shared ownership, where you buy a share of a purpose-built home with flexible ownership options. In some cases, you may not need to pay rent on the remaining share.Travel:Check your eligibility for a free bus pass; the age requirements vary depending on where you live. You can also buy a Senior Railcard for £35 a year and save a third on train travel from age 60. You can buy coach discount cards too, such a...

Iranian Democratic Opposition Leader Prince Reza Pahlavi joins 'Mornings with Maria' to discuss tightening sanctions, escalating nuclear tensions and the future of a post-regime Iran. Iran's ruling regime is facing what opposition leader Prince Reza Pahlavi describes as its most vulnerable moment as economic pressure and anti-regime demonstrations continue across the country. Pahlavi, the former crown prince and a leading voice of the democratic opposition, joined FOX Business' Maria Bartiromo on "Mornings with Maria" to argue that financial sanctions are compounding internal unrest and weakening Tehran's grip on power. Foundation for Defense of Democracies founder Cliff May weighs in on U.S.-Iran nuclear negotiations in Geneva, warning that Supreme Leader Ali Khamenei’s threats ...

A children's bike manufacturer has fallen into administration, with staff being made redundant. Frog Bikes, headquartered in Ascot, Berkshire, with a factory in Pontypool, Wales, has begun laying off staff after filing for administration.The business was launched by parents Jerry and Shelley Lawson in 2013. According to their website, the company aimed to "create high-quality, lightweight bikes specifically designed for children". It worked with Olympic bike engineer Dimitris Katsanis to create bikes perfectly suited to young riders.However, official records on The Gazette show that Frog Bikes appointed Anthony John Wright and Alastair Rex Massey, of FRP Advisory Trading Limited, as administrators on Thursday, February 19.The brand previously confirmed the news, citing "tighter financia...

FOX Business' Jeff Flock joins 'Mornings with Maria' live from Austin, Texas, showcasing 3D-printed homes. Mortgage rates fell below 6% this week for the first time in three and a half years, mortgage buyer Freddie Mac said Thursday. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage fell to 5.98% from last week's reading of 6.01%. The average rate on a 30-year loan was 6.76% a year ago. It was most recently under 6% on Sept. 8, 2022, at 5.89%. RENT BECOMING MORE AFFORDABLE FOR MANY AMERICANS AS MARKET STABILIZES The average rate on a 30-year fixed mortgage fell to 5.98% from last week's reading of 6.01%. (David Ryder/Bloomberg via Getty Images)"This rate, combined with the improving availabil...