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The Latest Breaking News on Financial Services

Nigeria's university system needs radical reform: student loans for more than 100 million people might be a good place to start

Amid strikes by Nigeria’s Academic Staff Union of Universities, one thing is clear: the current funding model for the country’s public universities is broken. The government’s new Higher Education Bill aims to fix it.

The Conversation

Will the Commanders’ sale ‘be over soon?’

No Jeff Bezos, no problem. Could the Commanders be sold sooner than we think?

USA Today Sports Media Group

Swedish bank Handelsbanken expands in Cardiff

Its Cardiff branch has moved to new offices at the Callaghan Square office scheme

Birmingham Post

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Ulster Bank PMI: Northern Ireland private sector contracts at fastest rate in 2 years

All four sectors were hit hard, but signs of easing inflation offers hope

Birmingham Post

Number of Scots in work falls for first time in almost two years, says RBS

The Royal Bank of Scotland said the number of people in employment fell for the first time since April 2021.

The Independent UK

Young people warned not to be exploited as ‘money mules’ for UK criminal gangs

West Midlands commissioner and HSBC say moving illegally gained money is an offence that helps serious crime

The Guardian - UK

Supermarket takes back 'most expensive' title after just a week as customers in 'shock' over prices

The supermarket is the only one to increase in price in this week's comparison of basics

Manchester Evening News

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Victims of bank Ponzi-like scheme in China unable to withdraw money from frozen accounts

Since April last year, at least $8.5 billion has been frozen, leaving bank customers in dire straits. When they tried to protest, they allege they received brutal treatment from the police.

ABC News

Business issues heartfelt call to customers to pay in cash - and spells out reason why

During the Covid pandemic many people stopped using cash but some want to see its return

Wales Online

These major banks see a "mild recession" coming in 2023

JPMorgan Chase, Bank of America and Citigroup are bracing for an economic downturn in 2023, including an uptick in unemployment, even as they continue to benefit from strong consumer spending and higher interest rates.

Axios

Cardinal George Pell will be remembered as a reformer with 'a big heart' by some but reviled by many others

While many with the Catholic Church remember him as compassionate, he's reviled by many others inside and outside religious spheres.

ABC News

JP Morgan investment bankers suffer 30% bonus cut as takeover deals slump

Wall Street’s largest lender reports 22% fall in full-year profits including 58% drop in fees from dealmaking

The Guardian - UK

Pakistan foreign exchange reserves drop to lowest since 2014

Experts paint a gloomy picture, saying the government must reconsider its priorities.

Al Jazeera

Los Angeles bank agrees to $31M settlement over racial bias in home loans

City National Bank has agreed to pay $31 million to settle a U.S. Justice Department lawsuit alleging racial bias in its home mortgage lending in Los Angeles County.

Los Angeles Times

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Bangkok Post

BoT sets out plan to issue up to 3 virtual banking licences

The Bank of Thailand plans to grant up to three virtual banking licences in the first stage of its digital plans, and will allow both financial institutions and non-financial firms to apply.

The Independent UK

Bank to pay $31M redlining settlement, DOJ's largest ever

The Justice Department accused Los Angeles-based City National Bank on Thursday of discriminating against Black and Latino residents, requiring the bank to pay more than $31 million in what is the largest redlining settlement in DOJ history

Investors Business Daily

Bank Earnings: Wells Fargo Profit Halves, Bank Of America, Citi Beat Expectations

Wells Fargo plans to slash its mortgage business as Q4 results loom. Analysts expect bank earnings to fall when Bank of America, Citi report Friday.

WEKU

DOJ announces a $31 million redlining settlement with LA-based City National Bank

The Justice Department accused the bank of discrimination by refusing to underwrite mortgages in predominately Black and Latino communities.

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news in one place.

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Inverse

Government-issued digital currencies could bring about a dystopian future, security experts warn

As the world moves away from cash, countries are rolling out government-regulated digital currencies that have concerned security experts.

Al Jazeera

India top court says demonetisation was legal, victims disagree

Tens of people reportedly died after Modi’s shock move to ban currency notes, but a top court ruling brings no closure.

Zenger

Kentucky Threatens To Divest From 11 Banks Over Environmental And Social Policies

Kentucky State Treasurer Allison Ball (R) notified 11 banks that their ESG policies had harmed the state’s economy.

Bangkok Post

BoT: First virtual banks to open in 2025

The country’s first virtual banks are expected to begin offering services in 2025 amid a push to boost competition, widen loan access and cut costs for businesses and individuals.

Leeds Live

Plans submitted for new 19-storey hotel with 205 bedrooms in Leeds city centre

The old Lloyd’s Banking Group building on Water Lane in Holbeck could be redeveloped.

The Denver Post

Denver attorney suspended, accused of urging clients to infect a rival with COVID-19

DENVER — A judge this week suspended a Denver attorney from practicing law in Colorado’s federal bankruptcy court after finding he lied, submitted false legal documents and engaged in a pattern of “fraudulent schemes” to try to get a case dismissed.

Bangkok Post

Banks prepare new Central Fraud Registry

The Thai Bankers' Association (TBA) is working to set up the Central Fraud Registry to probe financial fraud in the banking industry.

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