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The Latest Breaking News on Financial Services

2 Momentum Stocks That Are Too Cheap to Ignore

The Fed is expected to keep hiking rates well into 2023; consequently, the broader market might remain under pressure. However, value stocks have been gaining traction and are expected to perform well in the following year. So, fundamentally sound momentum stocks Berry Corporation (BRY) and Gran Tierra Energy (GTE), which…

StockNews.com

Bombay high court grants bail to Sanjeev Palande, PA to Maha ex-home minister Anil Deshmukh in ED case

MUMBAI: The Bombay high court on Tuesday granted bail to Sanjeev Palande, personal secretary to Maharashtra’s ex-home minister Anil Deshmukh, in a money laundering case registered by the Enforcement Directorate (ED).

The Times of India

Banking services return to Ethiopia's Tigray as conflict ends

Ethiopia’s largest bank has reopened branches in some towns in Tigray, allowing residents to access funds they have been blocked from using for over a year due to the conflict between the federal government and Tigrayan rebels.

Radio France Internationale

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King Charles III banknotes revealed by Bank of England - and when you can get one

The King’s image will appear on the front of all four polymer banknotes, however notes carrying a portrait of Queen Elizabeth II still remain legal tender

Chronicle Live

TSB fined £48million over computer meltdown that left customers unable to access accounts

The issue occurred when TSB attempted to move customer data to a new computer system managed by Spanish owner Sabadell from the old one supplied by Lloyds Banking Group.

Daily Mirror

Six big UK banks to start lending on flats with cladding

Barclays, HSBC, Lloyds, Nationwide, NatWest and Santander to offer mortgages on medium and high-rise properties from January

The Guardian - UK

First picture of King Charles III £5, £10, £20 and £50 bank notes released

The new notes won't be in circulation until 2024

Manchester Evening News

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TSB fined almost £50 million for IT meltdown that locked customers out of accounts for weeks

The botched systems change in 2018 led to a weeks-long lockout for customers

Evening Standard

King Charles shown on Royal Mint bank notes for the first time but will not appear until 2024

The new notes will replace those featuring Queen Elizabeth II

Evening Standard

TSB fined £48.7m over 2018 IT meltdown that left customers unable to access services

FCA said bank 'failed to plan for the IT migration properly' - TSB apologises again

Insider UK

TSB Bank fined nearly £50m after botched computer upgrade in 2018

The bank was attempting to switch over to a new IT system but the transfer went wrong. Regulators said there were "widespread" issues in how it handled customer data.

Wales Online

TSB fined £48m over ‘serious failings’ in IT meltdown

FCA penalises bank after millions of customers were locked out of their accounts for weeks

The Guardian - UK

Bank of England shares first look at new King Charles III bank notes

The new bank notes have been unveiled but when and where should you change old bank notes

Liverpool Echo

King Charles III bank notes unveiled by Bank of England

King Charles III is only the second monarch to appear on British banknotes

The Independent UK

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Reuters

World Bank cuts China growth outlook on COVID, property woes

The World Bank has cut its China growth outlook for this year and next, citing the impact of the abrupt loosening of strict COVID-19 containment measures and persistent property sector weakness.

The Guardian - UK

TSB fined £48m over IT migration meltdown; UK house prices ‘could fall 5%’ in 2023 soft landing – as it happened

Nationwide says a ‘relatively soft landing’ in housing market is possible, while TSB is penalised for operational failings over botched move to new IT platform in 2018

Wales Online

King Charles III banknotes design unveiled by Bank of England

The new notes are expected to enter circulation by mid-2024

Daily Mirror

First pictures of King Charles III banknotes - and when they will be released

New-look banknotes showing the portrait of King Charles III have been shared by the Bank of England for the first time - but the eco-conscious monarch wants them to enter circulation slowly

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The Guardian - AU

Reserve Bank warns of more interest rate rises and ‘large increases in rents’ amid inflation crisis

RBA’s final meeting minutes reveal concerns about higher spending over summer holidays without Covid restrictions

Reuters

Hong Kong, Macau leaders to visit Beijing Dec 21-24

Hong Kong chief executive John Lee and Macau chief executive Ho Iat Seng will head to Chinese capital Beijing over Dec. 21-24, state media and a government statement said on Tuesday.

Bangkok Post

Mass raids net 19 loanshark suspects

Nineteen people were detained during recent raids on 22 locations in Bangkok, Nonthaburi, Chiang Rai, Phayao, Chon Buri, and Prachuap Khiri Khan and charged with operating unlawful money lending services.

The Guardian - UK

King Charles III bank note designs revealed by Bank of England

Monarch’s portrait on £5, £10, £20 and £50 likely to enter circulation in 2024

Reuters

Ghana to default on most external debt as economic crisis worsens

(This Dec. 19 story has been corrected to fix debt figures in first chart)

Bangkok Post

Pandemic Loans Are Coming Due but Some Businesses Aren't Ready to Repay

Many small businesses that received federal pandemic aid are now on the hook for repayments, and some say the timing couldn't be worse.

ABC News

Australian towns are fighting to hold on to their bank branches, as government flags review of replacement services

In the past five years, the number of bank branches has dropped 30 per cent. While growing numbers of Australians are doing their banking online, the local bank remains a vital service for many isolated regional communities.

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