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The Latest Breaking News on Financial Services

Bank of England begins selling government bonds

Central bank in bid to reduce its emergency stimulus to the economy and fend off claims it has lost its independence

The Guardian - UK

Three warning signs you are being targeted in new scam, according to Bank of Ireland

Fraudsters are doubling down on their efforts to access customers’ accounts

Dublin Live

Cyclone, absences threaten to dull Hong Kong finance meeting

A tropic storm and absences of VIP guests are casting a shadow over a financial conference meant to help Hong Kong restore its image as a financial hub and destination for business travel

The Independent UK

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Singapore's UOB completes deal for Citi's Thailand, Malaysia retail banking ops

SINGAPORE: Citigroup said on Tuesday it had completed the sale of its Thailand and Malaysia retail banking businesses to Singapore's United Overseas Bank (UOB) in a transaction expected to result in a regulatory capital benefit of $1 billion.

Bangkok Post

Russian tycoon Oleg Tinkov renounces citizenship over Ukraine war

Billionaire banker says he will not be associated ‘with a fascist country’ that is ‘killing innocent people daily’.

Al Jazeera

Afternoon Update: More rate pain for borrowers; Gold Trip wins Melbourne Cup; and China unhappy with B-52 plan

The Reserve Bank makes its inevitable inflation response. And most Australians don’t care about the cup

The Guardian - AU

Australian cash rate rises for 7th straight month to 2.85%

Australia’s central bank has boosted its benchmark interest rate for a seventh consecutive month to a nine-year high of 2.85%

The Independent UK

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How much extra could mortgage repayments cost now the cash rate is 2.85 per cent?

Tell us your loan size, term and interest rate, and our mortgage repayment calculator will work out how much extra you may have to pay on your loan.

ABC News

Australian borrowers hit again as RBA raises interest rates by 25 basis points to 2.85%

Reserve Bank raises rates for seventh time in attempt to bring inflation under control

The Guardian - AU

Digital Yuan Puts Priority on Privacy Protection, PBOC Chief Says

Central Bank Governor Yi Gang outlines e-CNY measures to protect personal data while combatting illicit activities

Caixin Global

Don’t believe everything the big banks tell you about themselves

Bankers are paid to dream up clever ways to make money, and occasionally one of their schemes breaks cover, as we saw earlier this month with the derivatives bought by pension funds

Evening Standard

Breaking the barriers between banks and the Māori economy

Renata Blair is a bridge between worlds – he’s opening doors to the rapidly growing Māori business sector by aiding the bank’s understanding and connection to Te Ao Māori.

Newsroom.co.nz

Warning to UK homebuyers as experts say 'mortgage pain is far from over'

“The mini-budget spooked the financial markets"

Manchester Evening News

Business confidence falls in North East as economic challenges take their toll

Confidence fell 20 points in the region in October in the latest Business Barometer from Lloyds Bank Commercial Banking

Birmingham Post

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Reuters

Hong Kong bets on summit to herald its comeback as financial hub

Hong Kong aims to restore its reputation as a global financial hub by playing host to a bevy of top Wall Street executives this week, defying critics who say a talent crunch and geopolitical tensions will hobble its ambition.

Al Jazeera

Wall Street accused of whitewashing China crackdown in Hong Kong

Activists and US legislators say banking summit being used to legitimise the dismantling of city’s freedoms.

Birmingham Post

South West firms concerned about economy - but positive about own prospects

Target areas for growth in the next six months include investing in teams and exploring new markets, the Lloyds report said

Birmingham Post

People on the move: key North East appointments and promotions of the week

Companies in this week's round-up include Elanders, Bedmax, GB Bank and ITPS

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AAP

RBA to pull trigger on seventh rate hike

The central bank is set to capture the headlines this week, with most experts predicting it will tighten monetary policy by another 25 basis points on Tuesday.

The Guardian - AU

Rate rise expected on Melbourne Cup day likely to be followed by higher inflation outlook

Two of Australia’s biggest banks predict the Reserve Bank will revise the inflation rate to 8% – the highest since March 1990

Birmingham Post

Danske Bank Northern Ireland notches up £80M profits so far this year

Increased transactional activity is responsible for the £30M jump on the same period last year

Evening Standard

NatWest boss: “Anxiety levels are high”, as bad debts rocket

Britain’s top four high street lenders have set aside towards £2.5 billion this week to deal with bad debts, a clear sign that the bankers are preparing for a recession.

The Guardian - US

Twitter shares taken off stock exchange after Elon Musk seals $44bn takeover – business as it happened

Donald Trump says he is happy Twitter is in ‘sane hands,’ as SEC filing confirms the Tesla billionaire has bought the social media platform with over 230m users

The Guardian - AU

Reserve Bank reports record $40bn loss on government bonds purchased during Covid pandemic

RBA will likely not pay government dividends for years until negative equity of $12.4bn is restored and built up

Evening Standard

Lloyds Bank debt fears as talk of house price crash grows

FRESH fears about the UK economy emerged today when Lloyds Bank set aside more than half a billion pounds to deal with bad debts and warned on a “deteriorating” outlook.

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