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The Latest Breaking News on Financial Services

Bouncing back: Silicon Valley bets on AI to regain past glory

Thousands of Silicon Valley employees have been laid off over the past year, often finding out the bad news by email. Hit hard by rampant inflation and over-hiring during the Covid pandemic, the US tech giants of the San Francisco Bay Area have faced one of the worst crises in…

France 24

Thousands of HSBC customers in UK unable to access online banking services

Consumers report problems using bank’s app on one of the busiest shopping days of year, Black Friday

The Guardian - UK

What is RBI’s latest move to increase risk weight for lending about? | Explained

The RBI recently issued regulatory measures to banks and NBFCs to increase risk weights associated with consumer credit and bank credit by an additional 25 percentage points. We examine the rationale behind the move and its potential impact.

The Hindu

From analysis to the latest developments in health,
read the most diverse news in one place.

HSBC UK customers struggle to access banking services on Black Friday

The problems started on the morning of the shopping bonanza, which is also payday for some people, being the last Friday of November.

The Independent UK

Barclays could axe up to 2,000 jobs in £1bn cost-cutting drive

Shake-up expected to affect mainly back office roles in departments such as compliance, HR and legal

The Guardian - UK

Banks declare war on scams with warnings for new payees

Australian banking customers will be better protected from scammers under a suite of changes introduced by the industry.

AAP

NatWest and RBS announce closure of another 19 branches

So far this year, 578 branch closures have been announced by UK high street banks.

The Independent UK

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Bank of Maharashtra opens second zonal office in State

Bank of Maharashtra to set up 4 zonal offices & 250 new branches in next fiscal. MD & CEO A.S. Rajeev said bank has 43rd zonal office in Hubballi & 3 more in TN & MP by end of current fiscal. Bank's gross NPA 2.19%, Net NPA 0.23%. Hubballi zone…

The Hindu

Eurozone banks starting to show ‘stress’ as loan defaults rise, ECB warns

Rising interest rates have boosted profitability but are likely to limit demand and increase risk of bad debts, says central bank

The Guardian - UK

Court grants bail to ex-Nigerian central bank chief facing fraud charges

Godwin Emefiele, who was arrested by security services in June, has pleaded not guilty to the charges.

Al Jazeera

Public interest investigation into sale of Telegraph now likely

Lloyds Bank hopes of quick sale dashed

Evening Standard

UDF unhappy about IUML leader’s nomination to Kerala Bank director board

UDF's Ajay Mohan expresses displeasure at IUML leader's nomination to Kerala Bank director board. IUML leaders justify nomination, saying it is their right. CPI(M) denies inviting IUML to LDF, while IUML reiterates commitment to UDF.

The Hindu

Sale of Telegraph Group "still wide open" -- bankers

THE race to land ownership of The Telegraph Group remains wide open City bankers insist in the face of reports that an Abu-Dhabi backed fund is close to taking control.

Evening Standard

MPs want UK national security law used to vet Barclay family’s Telegraph offer

Financing from Abu Dhabi investors secured for bid but use of overseas sovereign wealth questioned

The Guardian - UK

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news in one place.

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The Hindu

Kerala Bank nomination: posters against IUML MLA appear in Malappuram

IUML's P. Abdul Hameed's nomination to Kerala Bank's director board has caused strong resentment within the Muslim League. Posters describing him as Judas have appeared across Malappuram. The nomination is seen as a ploy by CPI(M) to woo IUML, which is fighting the CPI(M) over the merger of all District…

The Independent UK

Former Nigerian central bank chief arraigned and remanded in prison for alleged fraud

The former governor of the Central Bank of Nigeria has been charged with procurement fraud

Dynamite News

Delhi court rejects bank's suit for recovery against a dead man

A Delhi court rejected the suit for recovery filed by the State Bank of India (SBI) against a person who had already passed away two years prior to filing the suit. Read further on Dynamite News:

Evening Standard

OPINION - Dear Nationwide: Don’t go changing to try and please us

The City joke goes like this. You can be absolutely certain what a bank with spare capital will do next. The only question is: up which wall.

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news in one place.

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The Hindu

IUML legislator’s nomination to Kerala Bank board kindles speculations

IUML's P. Abdul Hameed nominated to Kerala Bank's director board. IUML leadership expressed happiness, rejecting speculations of CPI(M) attempting to win IUML around. Hameed holds record for longest-serving leader in post. UDF taking on CPI(M) legally for amalgamating district banks into Kerala Bank. IUML wants to work together to move…

The Hindu

Key Shiv Sena (UBT) leader Advay Hiray detained in Bhopal

Shiv Sena (UBT) leader Advay Hiray detained in Bhopal for alleged fraud of ₹30cr from Nashik District Central Cooperative Bank. Rejected plea for bail by Bombay High Court. Formerly with BJP, Hiray joined UBT soon after Eknath Shinde's intra-party revolt.

Kiplinger

Citi Fined For Denying Credit Cards To Armenian Americans

Citi to pay $25.9 million for discrimination issues including lying to Armenian Americans about why they were denied credit cards, CFPB says.

The Guardian - AU

Tim was scammed out of $222,000. He says the bank should have to give his money back

A group of victims say the onus is wrongly being put on Australians to protect themselves from increasingly sophisticated scams

Evening Standard

Nigel Farage to launch legal battle with NatWest over debanking saga

He could reportedly seek millions in damages.

Tom’s Hardware

China's Largest Bank Forced to Settle Trades by USB Stick After Ransomware Attack

China's ICBC is the world's largest bank, and it was hit with ransomware earlier this week.

Evening Standard

Leading banks ramping up in London – good news for our ‘innovation economy’

City Voices: London is still one of the best places in the world to do business

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