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The Latest Breaking News on Financial Services

Bank launches emergency intervention in markets after Kwarteng mini-budget

Bank of England takes urgent steps to buy long-dated UK government bonds

The Guardian - UK

Bank of England's emergency move to calm market chaos by buying UK government bonds

The UK's central bank said it is trying to get a grip on the country's worsening financial situation by buying up bonds in an attempt to bring down soaring interest rates

Daily Mirror

Bank of England announces emergency action to try to calm markets

Central bank tries to stave off ‘material risk to UK financial stability’

The Independent UK

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Falling Rupee: TOI says ‘it’s all right’, Express says ‘hawkish commentary roiled markets’

While the Indian rupee has continued to hit record lows, editorials by prominent English dailies have differed on the role played by the Reserve Bank of India.

Newslaundry

Bank of England intervenes in bond market - as it happened

Bank’s emergency move brings relief to bond market, but fails to stabilise UK currency

The Guardian - UK

'I Need My Salary': Anger as Lebanese Banks Reopen

Depositors scuffled and long lines formed at Lebanese banks Monday as they partially reopened after a week-long closure following a slew of heists by customers desperate to access their money. But most banks remained shut, welcoming only a handful of depositors on appointment, and there was anger from those seeking…

Asharq Al-Awsat

Mortgage costs face 30-year high of 6% as Bank of England issues stark warning

Huw Pill warned borrowers to brace themselves for a “significant” rate hike after lenders Santander and HSBC, along with the Nationwide and Yorkshire building societies, joined a rush of lenders to pull home loans or up their rates

Daily Mirror

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Former Bulwell town centre bank put up for sale

It was closed due to a drop in footfall since the pandemic

Nottingham Post

Why now is the best time for Greater Bank and Newcastle Permanent to merge

The two Hunter-based customer-owned financial institutions are focused on a merger's long-term benefits for the region.

Newcastle Herald

Members have their say on Newcastle Perm - Greater Bank merger

Almost 600,000 Newcastle Permanent and Greater Bank members will start voting on Wednesday on a proposed historic merger of the institutions.

Newcastle Herald

Homeowners warned of ‘significant’ rise in UK interest rates

Bank of England’s chief economist speaks out after mini-budget, with financial markets expecting rates to reach up to 6%

The Guardian - UK

Bank of England warns of ‘significant’ rate rises amid sterling turmoil

The Chancellor sought to reassure investors as the Bank of England’s chief economist said they could not ignore the fall in sterling

Evening Standard

Kwarteng’s tax cuts will force ‘significant’ interest rate rises by Bank of England

Chief economist says mini-budget will increase inflationary pressure in remarks likely to further spook mortgage borrowers

The Guardian - UK

Bank of England chief economist says pound slump will ‘require significant response’

Huw Pill said there had been ‘significant market consequences’ following the chancellor’s announcement of tax-cuts

The Independent UK

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Chronicle Live

Newcastle city centre bank to close - one of an estimated 325 UK branch closures this year

As more customers shift to mobile and online banking, RBS has announced its Newcastle city centre branch will close in October - one of 12 around the country

Liverpool Echo

Bank issue warning after victims of 'friends and family' WhatsApp scam soar

The cost of living scam sees fraudsters pose as friends or family members

Al Jazeera

World Bank slashes economic outlook for Asia over China slowdown

The Washington-based lender expects the region to grow 3.2 percent in 2022, down from a 5 percent forecast in April.

The Independent UK

Development bank fires director after ethics probe

Governors of the Inter-American Development Bank have voted to fire its president, Mauricio Claver-Carone

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news in one place.

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The Guardian - UK

Bank of England’s wait-and-see approach unlikely to calm nerves

After a day of volatility, the Bank’s statement was a far cry from the cavalry arriving to help the battered pound

Reuters

Exclusive-Trump nominee Claver-Carone voted out at IDB, threatens legal action

The governors of the Inter-American Development Bank (IDB) on Monday voted to fire Mauricio Claver-Carone, the bank said, after an investigation showed that the only American president in the bank’s 62-year history had an intimate relationship with a subordinate.

Chronicle Live

Gateshead niece who stole cash from shielding elderly uncle given one last chance to avoid jail

Linzi Elder, of Gateshead, has breached her suspended sentence order for fleecing her relative three times by failing to attend appointments

The Guardian - UK

Pound comes under new pressure after Bank of England fails to raise rates

Central bank stops short of emergency rate hike and instead says it will make full assessment in November

Daily Mirror

Bank of England 'won't hesitate' to change interest rates after pound plummets

Andrew Bailey, the Governor of the Bank of England, has said there will be no hesitation to change the interest rates "by as much as needed" to get inflation under control after the pound hit a record low

Evening Standard

Lloyds warns British Gas customers about email scam

Energy customers warned about hoax to get payment details

The Independent UK

What could the Bank of England do after pound plummets to record low?

Analysts want Bank of England to increase interest rates to ‘restore credibility’ to UK economy

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