he'd been due to step down injune next year — but the chancellor says mr carney agreed to stay on. philip hammond said next summer could be quite turbulent for the economyjust after brexit — and having mr carney still in post will help support a smooth exit from the eu. the bbc has discovered that the energy giant npower is "urgently investigating" how the personal details of around 5,000 customers were shared in a postal mailing. the letters included other customers' names, addresses, and payment amounts. no bank details were released and the information commissioner's office was notified. the company has apologised to all affected. wages grew faster than expected in the three months tojuly, as they continued to rise more quickly than average prices. earnings have now risen faster than inflation for several months. the boss of the bank of england is staying put then — until the end of january 2020. mark carney has agreed to extend his term as governor. he'd been due to leave at the end ofjune next year. but the chancellor philip hammond says mr carney said he'd stay on longer

many critics say mr hammond will welcome the letter from mr carney today. the big point is this that the decision for this delay means that the search for this delay means that the search for the next governor does not have to start until after britain is scheduled to leave the european union in march of next year. thank you. still on the brexit the... the chief executive of jaguar land rover has warned that tens of thousands ofjobs are at risk in the uk if the government fails to secure what he called the "right" brexit deal. ralph speth said a poor deal would cost his company more than £1 billion and would force it to consider moving jobs and production to another part of europe. our deputy political editor, john pienaar, is at westminster. a real sense again today from different quarters that the pressure is mounting on the prime minister. absolutely. the prime minister is anxious to avoid a hard brexit. it cannot have been comfortable for her to go to birmingham promoting british carmaking and then hear warnings from the boss of jaguar land rover like

hammond has decided just to keep mr mr carney in post and on top of that the reason mr hammond has given is economic turbulence, in other words he's a bit concerned about how things might go post brexit and he wants continuity and stability. all this at exactly the moment that the brexiteers are having a big shebang press co nfe re nce brexiteers are having a big shebang press conference in the house of commons to set out leading the european union and going on to so—called world trade organization turns. the decision of which they say could result in a significant boost for the economy and complete contrast to mr carney‘s more gloomy forecast. they suggest for example it could lead to lower food prices because of lower tariffs and an increase in household incomes, £80 billion more for the taxpayer. i'm thinking there will be an awful lot of grinding of teeth in the brexit central headquarters over this decision. norman, thank you very much indeed. labour are promising to give more rights to workers in the so—called "gig economy". in a speech to the tuc conference in manchester, t

carney has said... all i would ask isjust for once, somewhere else, can we have something which is about something other than "we are going to hell in a handbasket? " other than "we are going to hell in a handbasket?‘ there is a point as well. the actual content is this is the governor of the bank of england saying if there is a hard brexit... this is the same man saying there's going to be debt to the first one, a plague of locusts and for all the problems that come after the referendum... that's the point, henry, i wanted you to pick up on. there are those who would say, the comedy other warnings. they have not happened. they had not happened for several reasons, not least the fact that we have not left. he took very swift action reducing interest rates shortly after the referendum... that's not what they said at the time. this is a movable feast. if you look at some of the details of this piece, if we have a disorderly brexit, the that immigration may increase for the first time since 1994 and if a

mr carney added that an announcement on his future would be made soon. people over 30 are being urged to take an online test to find out if they are at an increased risk of suffering a heart attack or stroke. almost two million people have already taken the test, and public health england says as many as four out of five of them have hearts which are more damaged than they should be for their age, as our health correspondent sophie hutchinson reports. heart attacks and strokes kill around 8a,000 people every year in england but the vast majority are preventable, according to public health england. that is why officials want everyone over 30 to complete the online test to assess their heart's health by calculating its age. we know too many people are dying prematurely from heart attacks and strokes. in fact, it is the leading cause of death in men and second—leading cause of death in women. so people taking the online heart age test will allow them to understand what the risk is and, more important, take action on addressing that risk. the test asks 16

mr carney was due to step down from the roll injune, was due to step down from the roll in june, 2019. was due to step down from the roll injune, 2019. the chair of the treasury committee been doing a little digging. so i did a quick google searchjust now, and the headlines are "mark carney under pressure to extend stay and bank of england," "treasury in talks for keeping mark carney back in england", "uk government wants to keep mark carney at the bank of england," "treasury plays down reports of mark carney being asked to stay on." "treasury in talks to retain mark carney beyond 2019", "carney expected to leave bank of england and 2019, who will replace mark carney?" governor, you will have seen the headlines and appreciate that the uncertainty is both of great interest, but does cause uncertainty. i would like you to let us know what your intentions are as to remaining in yourjob. 0k. if nothing else, that shows the limits of social media, but let me say i fully recognise that during this critical period, it's important that everyone does everything they can to help with the transi

the chancellor, philip hammond, told mps that mr carney said he would "serve a little longer", to ensure continuity through what he said "could be quite a turbulent period" for the economy next summer. our economics editor, kamal ahmed, is here. how useful is this going to prove to be for the chancellor? if you imagine the chancellor's in tray, he has some troublesome problems. he has some troublesome problems. he has brexit and the possible effects on the economy now and what will our relationship look like in the future with the european union? where does he find all that money for the nhs that has been pledged? that will come up in the budget later this year. third big problem, finding a new boss for the bank of england. the institution that is most important in our financial relationship with the european union, or banking relationship with the european union. well, today, frankly, he talked about continuity, but that is pretty much code for, thatis but that is pretty much code for, that is something else i don't have to worry about. you can put that to one side out of those three bi

it's thought mr carney is open to staying on for as long as another 12 months, until 2020 if needed. earlier we spoke to chris roebuck, visiting professor of transformational leadership at the cass business school. you know, we're in a position, if you look at any organisation where the person in charge leaves after five years, there's going to be issues about instability, be that in the organisation or outside. if you then add onto that that this is the central bank, and the bank governor, and then you add onto that the fact that this is in an brexit period which is one of the most critical periods for our economy and country in the last 50 years, this is a critical moment to have stability. let's return to those figures about the health of the manufacturing sector, the pm eye, fell to its lowest level since just after the brexit vote in july 20 lowest level since just after the brexit vote injuly 2016. we were expecting something around 52.8. the reason for the slowdown is that demand uk export orders has fallen back to slower economic growth and the approach brexit. the figures sh

what about the bank of england, mr carney. he feels he wa nts to england, mr carney. he feels he wants to be there through the experience of brexit? he chose his words very carefully. he is willing to help. i think we should expect his discussions with the treasury have gone well, to the point he feels confident he will be asked to carry on a little bit longer. when the uk leaves the european union in march 2019, that it will not be the end of the process and a lot of people in the market were taken with mark carney's continuity provided during the transition and they want a safe pair of hands. thank you very much. weight—macro no time to look at the markets. that visit from your afternoon live team. let's get the weather. it is quiet on the weather front. it is dry but a lot of cloud on the way and the chance of catching a little bit of rain but today is looking drive. some sunshine around but mostly across north—western parts of the uk. bright for belfast, the western isles of scotland. warm in the south—east. but down into wales and the south—west, stubborn

now we know officially that mr. mark carney will remain into 2020. troy: that is important from stability. the last thing you want in negotiations is instability at the boe. alix: it is pretty much doing nothing. troy: there was strengthening yesterday. alix: how do you play the divergence bank story? troy: you want to focus on primarily u.s. assets. the dollar which had a great setup, markets are more in your favor. in the short-term, position yourself to benefit from higher rates. we still like financials and consumer assets where economic strength in the u.s. will drive returns and the downside risk is low. skybridge gayeski of is staying with us. mark carney will stay to the end of january 2020 and see them to a turbulent period. will it be over in two years? i don't know. now he says he's going to stay longer. alix: bracing for florence. for u.s. states declare emergencies. it can be the strongest storm to hit the carolinas in years and we look at the effect on the market and insurance world. this is bloomberg. ♪ >> more than one million peopl

rates up, rates down this is the conundrum that mr. carney has with the backdrop of his gloomy scenarios that we heard presented to the cabinet about brexit u.s. august cpi up 0.7%. 2.7% year on year. these are big figures. make no bones about it hel pen pence -- hence why the pound is 1.32 you will recall that wage inflation in uk is 2.9%. so a bit more of a squeeze on wages compared with inflation. this is the highest annual rate since february you take out food and energy, because they apparently don't count, the core figure is 2.1% above expectations and hope for 2% the expectation this time around was 1.8. rpi figure up. some are saying that's a rather useful measure big inflation data out of the uk, which will bring forward the conversation about rate hikes at a time when we are getting to the crunch period over brexit. you want to know about house prices you feeling poorer because of inflation? london july housing prices down 0.7 0.7% year-on-year. these are damning figures if you're a london property owner who likes to eat and

we are gored by george barkley thanks for being with us we spotted mr. carney sneaking into the back of downing street yesterday. the bank of england would not confirm or deny if he was there, 10 downing street eventually did. it's not clear that those warnings that he gave whether they are misconstrued or misunderstood by members of the cabinet. in your view how worried should the british cabinet be about the possibility of a no deal >> i suspect he was talking about just not a no dell thal t wasn't planned, i imagine he was talking about a no deal planned and not planned so if you have something that's a surprise, you come to the 29th of march, all of a sudden we're out, we were not intending to be out and we have no deal that's a much bigger problem than going into this saying we want no deal you can transition for that. if you have no deal, no transition, you could be in a serious mess that's what i think he was talking about. that housing prices could fall sharply, recession, unemployment rise significantly i imagine all of that is certainly a possi

it will concern their view that mr carney and mr hammond are deeply, deeply sceptical and may be resista nt to deeply, deeply sceptical and may be resistant to brexit. so for them, the announcement is a double whammy. has there been any reaction yet? not yet. all the brexiteers are in a meeting where they were setting out their predictions for the economy in their predictions for the economy in the event of no deal. at the moment they were setting out their vision of how wonderful life might be after we leave without a deal, suggesting for example that the economy will grow by 7%, that will lead to a boost in tax revenues of around 80 billion and average household incomes will increase by 8%, by my calculation, about 2500 grand a year. just as they are presenting that optimistic outlook, along comes the chancellor and says, by the way, things will look so difficult i will have to hang on to mr carney. all things considered, i imagine relations between mr hammond and the brexiteers have hardly been improved by this announcement. thank you very much, norman. the number of vacancies in the

nothing about mr. carney and here. eu seemedyet, but the to soften the edges around the irish border question. that is something that happened overnight. david: it is critically important for theresa may. she needs those votes out of northern ireland. alix: last week, the eu seemed to draw a lot of red lines, but nevertheless, the pound off the lows. big tech heads to capitol hill. with theave a preview former white house director of global engagement. what that means. last seasonseen the of homeland this is bloomberg. ♪ , that is what that means. i'm all about my bed. this mattress is dangerously comfortable. when i get in i literally say, ahh. introducing the leesa mattress. a better place to sleep. this bed hugs my body. i'm now a morning person. the leesa mattress is designed to provide strong support, relieve pressure and optimize airflow to keep you cool. hello bed of my dreams. order online. we'll build it, box it and ship it to your door for you to enjoy. sleep on it to up to 100 nights and love it or you get

mr carney said in august that we should expect about a quarter of 1% every year, and he has had that this year. therefore, most people were saying that we're not to see another increase until may next year. what about john see another increase until may next year. what aboutjohn lewis, briefly? it is owned by the people who worked there. but it is an indicator of how tough it is out there. on two grounds. first, you identified huge competition in the high street. john lewis has this never knowingly undersold label and has had to cut prices to remain competitive. the other issue is that it imports a lot of goods, and with the relative weakness of the pound, buying from overseas has become more expensive and a big squeeze on margins. morrison's says that brexit will not be a problem. it really has rather pooh—poohed the idea that we will have a blockage on the ports if there is no deal, and it says it will do fine. it has done two things really rather well. first, will do fine. it has done two things really ratherwell. first, it will do fine. it has done two things really rather well

what about mr carney — what‘s he been saying this week? there have been a lot of headlines about house price crashes of 35% if we have no deal brexit. that has been implied but it‘s not quite like that because he has done a stress test on banks in the uk which means putting numbers into their accounts and saying if we had the worst case scenario after brexit, 35% crash in house prices, the pound collapses and the ftse goes into freefall, if that happens can the banks stand up to it, and he says yes. that‘s what it means when he says he is preparing for the worst and not hoping for the best. hisjob is not to hope for the best but prepare for the worst. so retailers have been pretty high profile this week. yes, mike ashley has been talking about being stabbed in the back by his shareholders, and some of his shareholders, and some of his shareholders voted against mike ashley‘s reappointment as chief executive. but also because sports direct took over house of fraser, which was said to be interested in taking over debenhams. .. which wa

carm markyou suggest, mr. carney has a devilishly difficult job. it's not just uncertainty with brexit. they mention trade and emerging markets. they are not sure where those are going either. >> the irony of the brexit debate is the u.k. as a market is most exposed to global trade, and open economy dependent on trade, and the stock market is extremely dependent on global trade and emerging markets. investors think of the u.k. as an honorary emerging-market because it moves closer with em than other developed countries. the trade story is starting to affect the global momentum. we are seeing it in people's forecasts now. it is more important for the u.k. than other european countries. and: let's move to turkey the decision to hike repo rates to 24%. is reaction in the markets clear, very positive, the lira jumping, other currencies moving as well. is this going to be enough when you look at argentina and they are at 600 basis points? >> this is much more interesting , and certainly more surprising, then the boe move. it is fascinating. this is an i

. >> i got you mr. carney has to deal with brexit issues as we move to 2019 my big question is i think divergence is a big issue for 2018 do you think the fact the two central banks and bank of japan are behind on normalization compared to the u.s. that it will underscore more divergence of our economies >> i think it will i think the fed is getting near a tipping point. at this point the fed is removing excess accommodation, not tightening going into 2019, there will be 2.5% i would expect. and that would be a significant divergence this starts problem with asset classes when you look at fx and fx hedging nondollar investors to invest in the u.s., the fx hedging cost could take 3% from potential returns, that's pretty significant. i think the fed needs to be careful, probably think about using the balance sheet for accommodation as opposed to hiking rates forever >> jim, i'm in complete agreement with you some of the older fed people that i talk to, whether mr. olson, mark olson or bob heller, they bel

mr carney‘s term is due to end next june, just three months after britain's planned departure from the eu. it's understood that the treasury is holding talks with the bank of england about extending mr carney‘s term. 0ur economics editor kamal ahmed is at the bank of england. can you talk through some of the factors they are considering here, for his possible staying on? absolutely. this is not so much a problem of when mark carney leaves, but a problem of who replaces him here at the bank of england when he does. the problem with his departure date is this. it means that the government would have to advertise the new role now. of course, as we have been hearing from laura, now is surrounded with a huge amount of brexit uncertainty. and the powers of the governor of the bank of england are really affected by the type of relationship britain has with the european union. if it is a deeper relationship, very much intertwined with the european union, that means certain things for the bank. if it is a distant relationship, very separate from the european union, the bank would have differe

the times runs the same story, leading on mr carney‘s morning to the cabinet that house prices would plummet by 35% in the three years in ano plummet by 35% in the three years in a no deal scenario. the governor also makes the front page of the guardian, who set a no—deal brexit could be as disastrous as the financial crash. meanwhile, the ice has britain could have more genetically engineered food after brexit is the government considers lifting eu restrictions. cup in arms. that the headline in the sun, which leads on a proposed plastics tax on soft drinks cups. in the mirror dedicated front page to north korea where they spent eight days in the secretive country. a mix of web pages. take us to the front of the telegraph. theresa may's or marks on that interview in russia today. that's right. it's a few days ago she revealed the identities of these two russian men, not believed to be there remains them and yesterday we heard from p been saying these are ordinary civilians. the question is, what is going to happen next? what we are not expecting was this extraordinary interview on

the extension of mr carney‘s tenure is to help support a smooth exit from the european union, according to the chancellor, philip hammond. the governor said he was willing to do whatever he can in order to promote both a successful brexit and an effective transition at the bank of england. the bbc‘s director general has said that the policy of providing a free tv licence for people over the age of 75 is to be reviewed. speaking to a committee of mps, tony hall said there would be a public consultation about what to do after the current system ends injune 2020. he also said the disclosure of stars' salaries was one of the reasons chris evans left radio 2. the headlines on bbc news: britain was the most senior police officer has hit out at the pay award decided by ministers and at the level of spending cuts. the inquest into the westminster bridge terror attack has heard how and american tourist lost his life as he tried to save his wife. labour says it would give millions of casual workers many of the rights of other employees, including sick pay and parental leave. wages grew faster t

mark carney will stay on as the governor of the bank of england untiljanuary 2020. mr carney‘s seven—month extension as governor was announced by the chancellor philip hammond who said it would support britain's smooth exit from the eu. it is thought that fears over a ‘no—deal‘ scenario has increased the need for continuity in the upper echelons of the bank. as a canadian, mark carney was the first non—briton to be made governor in the bank's 300—year history. the hungarian prime minister viktor orban has accused the eu of insulting his country as meps debate whether his right—wing government's policies including those on immigration pose a threat to the european union. it comesjust months after the european commission took the step of launching similar proceedings against poland. in a defiant speech mr orban said he wouldn't give in to threats and blackmail. translation: you're not going to condemn a government but a country as well as a nation. you're going to denounce hungary... that has been a member of the family of christian european nations fo

mark carney. the chief executive of tsb, paul pester, has resigned with immediate effect five months after a failed computer upgrade affected up to two million online banking customers. mr pester will receive a pay—out of around £1.7 million. japan has been hit by the strongest typhoon in 25 years with winds of up to 135 miles an hour. more than a million people have been told to leave their homes. the typhoon struck afterjapan‘s summer of extreme weather, with flooding that killed more than 200, and the highest—ever recorded temperature. robin brant reports. screaming. japan knew that this storm was coming, but some were still caught out and had a very lucky escape from the torrent of water below. typhoonjebi is the strongest to hitjapan in 25 years. in the worst hit area, around osaka, the damage is widespread. down there, on the left, you can just about make out a runway. the rest of kansai international airport is underwater. but 3,000 passengers have nowhere to go. the bridge thatjoins

the extension of mr carney‘s tenure is to help support a smooth exit from the european union, according to the chancellor, philip hammond. the governor said he was ‘willing to do whatever he can in order to promote both a successful brexit and an effective transition at the bank of england'. sport now. and for a full round up, from the bbc sport centre, here'sjohn watson. anchoring is busy and both cricket and soccer. yes, they are. james anderson took the final wicket in england's victory over india in the fifth and finalk match of the series to become the most succesfull fast bowler in test cricket. it was his 56ath wicket surpassing glenn mcgrath's record in what was also alistair cook's final match for his country — england winning the series 4—1. england though were left frustrated in large parts by a superb sixth wicket stand which saw kl rahul make 149, supported by rishah pant — who reached 114. both were eventual dismissal by the bowling of adil rashid. which signalled the end for india who were all out for 345 as england won by 118 runs. it has been a real fitting it h