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The Latest Breaking News on Financial Services

Tesco 'admits defeat' as it sells bank arm to Barclays in £700m deal

Tesco has sold its banking arm to Barclays in a £700 million deal that signals a wider retreat from financial services by the big UK grocers.

Evening Standard

Nationwide’s Dominic West ad prompts complaint from rival

Watchdog receives complaint, reportedly from Santander UK, that advert paints misleading picture of bank branch closures

The Guardian - UK

Buy or Sell These 3 Bank Stocks?

Prolonged exposure to high-interest rates, risk of defaults on commercial real estate loans, elevated deposit costs, diminished credit demand, and stringent lending standards are expected to pile more pressure on U.S. banks. Considering these factors, should investors consider investing in foreign bank stocks Banco Santander (SAN), Akbank (AKBTY), and First…

StockNews.com

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Jes Staley stayed ‘in contact with Jeffrey Epstein’ long after joining Barclays

Legal documents said to suggest former bank CEO and child sex offender used third person to communicate

The Guardian - UK

Hyderabad merchants gear up for a smooth ride amid Paytm fiasco

RBI's action against PayTM creates uncertainty for small businesses, but traders remain equipped with alternative payment platforms.

The Hindu

New York Community Bancorp shares plummet amid unease over regional banking

Alessandro DiNello, new executive chairman of regional US lender, acknowledges ‘serious situation’ as stock at lowest level in decades

The Guardian - US

NYCB's Financial Struggles Prompt Selloff; New Chair Appointment Signals Shift

NYCB shares plummet amid concerns over real estate assets, while a new chairman takes the helm.

International Business Times

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3 Bank Stocks to Buy for Security

The banking industry is poised to remain buoyed amid rising interest rates, considerably improving its revenue generation. To that end, fundamentally robust foreign bank stocks Banco Macro S.A. (BMA), Barclays PLC (BCS), and Deutsche Bank Aktiengesellschaft (DB) could be solid buys now. Read on….

StockNews.com

UBS aims for higher cost cuts increasing City job fears at Credit Suisse

UBS dramatically increased the cost cuts it expects to make from merging with Credit Suisse today, increasing fears that City job losses will be even worse than first planned.

Evening Standard

Mortgage market finally returning to pre-pandemic levels, Virgin Money says

According to Bank of England data, monthly mortgage approvals have remained between 10% and 20% below 2019 levels ever since the mini-Budget

Evening Standard

FNB settles redlining case in North Carolina, Pennsylvania lender involved

FNB, a lender based in Pennsylvania, has reached a settlement in a redlining case in North Carolina with the US government. Find out more here.

Top News

First National Bank of Pennsylvania Settles Redlining Lawsuit

Learn about the recent redlining settlement involving First National Bank of Pennsylvania, accused of discriminating against Black and Latino homebuyers in...

Top News

Big banks up mortgage rates -- unless you are a first time buyer

HSBC and the Halifax today increased the cost of mortgages, despite a widespread expectation that the Bank of England will cut interest rates before the year is out – perhaps as early as the summer.

Evening Standard

CMC to cull 200 as fears mount of City jobs axe

Growing fears of a mass City jobs cull rose today when spread betting house CMC Markets said it would axe 200 jobs -- 17% of its headcount. Replicated across the Square Mile that would be tens of thousands of jobs.

Evening Standard

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Top News

Former Swiss Finance Minister Defends Role in Credit Suisse Collapse

Former Swiss finance minister defends his actions in the collapse of Credit Suisse, stating that he acted in line with regulations and did not contribute t...

The Guardian - UK

UK’s credit unions face uncertain future amid cost of living crisis

The small cooperatives have found themselves at a crossroads, with concerns over governance and consolidation threats

StockNews.com

Which Financial Stock Holds the Earnings Edge - First American Financial (FAF) or Moody's Corporation (MCO)?

Amid the ongoing demand for financial services and an increasing incorporation of digital technology, the financial industry presents a strong and promising outlook. The prevailing high-interest rate environment provides further stimulus to the financial services companies. With financial services companies Moody's (MCO) and First American Financial (FAF) set to unveil…

Newslaundry

‘Arrest is imminent’: CBI raids on Harsh Mander, FIR filed

The Central Bureau of Investigation has filed an FIR against human rights activist and former IAS officer Harsh Mander for alleged FCRA violations, Newslaundry learned today.

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AAP

Perth Mint getting act together but still breaching law

A parliamentary committee has been told Perth Mint is getting its act together but continues to breach money laundering and counter-terrorism financing laws.

The Guardian - UK

Bank agrees payout over mortgages that ‘ruined lives’

Out-of-court settlement reached with law firm acting for customers who have been left owing big sums

International Business Times

Shares In Banking Giants BNP, ING Fall Despite Hefty Profits

Shares in European banking giants BNP Paribas and ING tumbled on Thursday as disappointing fourth-quarter results took the shine off bumper annual profits.

The Hindu

Ex-RBI Governor Raghuram Rajan meets former Maharashtra CM Uddhav Thackeray in Mumbai

Former RBI Governor Raghuram Rajan meets Shiv Sena chief Uddhav Thackeray, who had backed Mr. Rajan’s criticism of the Central government.

International Business Times

Santander Posts Record Profit In 2023 After Rate Hikes

Spanish banking giant Santander posted a record 11.1-billion-euro ($12 billion) net profit for 2023 on Wednesday as higher interest rates and a rise in global clients helped to cushion the impact of a windfall tax.

Top News

Italy Finance Minister Seeks Clarification on Pop Sondrio from UniCredit CEO

UniCredit CEO has been asked for clarification by Italy's Finance Minister regarding Pop Sondrio. The move indicates concerns about the situation.

The Hindu

Bengaluru: CCB unearths WFH scam, freezes 30 accounts with transaction history of ₹158 crore

The Central Crime Branch officials unearthed a ‘work from home’ scam and arrested 11 people operating from Bengaluru, Hyderabad, and Mumbai.

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