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The Latest Breaking News on Financial Services

New plans unveiled for former Barclays bank on Mapperley Top

A book shop, cafe or a restaurant are what some people would like to see

Nottingham Post

UK bank overdrafts: ‘I received £8,000 after I complained’

People struggling with debt could get redress if their bank failed to make the right affordability checks

The Guardian - UK

G7 plans new vaccine effort for developing nations, Yomiuri reports

The Group of Seven (G7) rich nations is set to agree on establishing a new programme to distribute vaccines to developing countries at next week's summit of leaders, Japan's Yomiuri newspaper said on Saturday.

Reuters

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Recovery foreseen after sluggish April

The Stock Exchange of Thailand struggled with another period of weakness in April. The index started the month at 1,609.17 points and declined steadily thereafter, hitting its low on the last trading day of the month at 1,524.30 and closing at 1,529.12, a drop of 80.05 points or 5% in…

Bangkok Post

How much money do banks in the US control?

The number of US banks decreased by half while bank assets doubled in the past two decades.

USAFacts

JP Morgan: has world’s largest bank got too big for its boots?

“His ears are smaller. And there is no crown. But on Wall Street, at least, Jamie Dimon is America’s answer to King Charles III,” said Patrick Jenkins in the Financial Times (FT): “adulated by some, resented by others, but incontrovertibly powerful”.

The Week

US Economy On The Edges As Banks Continue To Fail And The Fed Raising Interest Rates

The S&P 500 logged a weekly gain following the release of encouraging inflation data and a weaker-than-expected first-quarter.

Zenger

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State banks increase interest rates to attract depositors

State banks are rushing to provide higher deposit rates to customers, including one scheme that offers up to 17%.

Bangkok Post

Banks consider new fees to reflect expenses

The Thai Bankers' Association (TBA) is mulling a new fee structure for the industry, with higher service costs for banks possibly passed on to customers.

Bangkok Post

No.1 Tech Stock to Own in a Bear Market

Given the broad economic headwinds and widespread recessionary concerns, a bear market might be on the horizon. Against this, stable tech stock Accenture plc (ACN) could be a solid buy-and-hold choice. Let’s explore the trends of some of the company’s key metrics….

StockNews.com

TD Bank Launches New Credit Cards

TD Bank launched new credit cards, including TD Clear and TD FlexPay.

Kiplinger

FDIC proposes big banks pay to recover losses in SVB and Signature failures

There were concerns that small banks would wind up bearing some of these costs and this proposal heads those off.

Axios

3 Foreign Bank Stocks to Consider Amid U.S. Banking Turmoil

The U.S. banking industry faces the most formidable challenge since the global financial crisis in 2008. Therefore, it could be wise to buy fundamentally strong foreign bank stocks China Minsheng Banking (CMAKY), Commerzbank (CRZBY), and Banco Macro (BMA). Keep reading….

StockNews.com

New bank hub to open in Greater Manchester area which is set to lose its last branch

NatWest’s decision to shut its Heald Green branch meant people living in the Cheadle area were to be left without any face-to-face banking services from July.

Manchester Evening News

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The Guardian - UK

Bank of England lifts inflation and growth forecasts as it raises interest rates to 4.5% – business live

BoE governor Andrew Bailey predicts inflation will have halved by the end of this year, thanks to falling energy bills

The Guardian - UK

Social media firms should reimburse online fraud victims, say UK bankers

Boss of industry body UK Finance accuses tech companies of ‘profiting’ from scams on their platforms

Bangkok Post

CIMBT looks to digital personal loan growth

CIMB Thai Bank (CIMBT) plans to expand digital personal loans this year, targeting 500 million baht in total by focusing on the upper-income segment.

Birmingham Post

Higher interest rates help Cambridge and Counties Bank profits rise 54 per cent

CEO says excellent financial performance benefitted from 'higher rates in this more uncertain environment'

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news in one place.

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Wales Online

Investigation after bank workers 'rate customers by how sexy they are'

Claims that Metro Bank employees had WhatsApp group to rank female users

Bangkok Post

Local bourse starts to see net inflows

The Thai stock market, which posted significant capital outflows in the first four months of this year, has begun to record net inflows this week as investors absorbed negative news about the US banking crisis and a potential recession, says the Stock Exchange of Thailand (SET).

Chicago Sun-Times

Washington Federal Bank for Savings collapse sees another former employee charged

Brian Fong is cooperating with prosecutors. Fifteen bank officials, workers and borrowers have been charged, and a Daley family was convicted of cheating on his taxes in a related case.

The Hindu

Former AGM of Punjab National Bank, 3 others get five-year jail term for bank fraud

According to a release, CBI had registered the case on February 19, 2016 against M/s. Sheetal Refineries Limited and its directors on the allegations of committing bank fraud and causing a loss of ₹53.82 crore to Punjab National Bank.

The Guardian - UK

Unlicensed ‘bank’ CEO’s Commons invite stokes access concerns

Vulnerability of MPs’ groups to influence of private firms highlighted by appearance at blockchain inquiry

ABC News

Westpac reverses decision to close eight regional branches as senate inquiry continues

Months after postponing the closures because of an ongoing Senate inquiry, the bank has announced that branches in several states will remain open indefinitely.

Kiplinger

Majority of People Prefer Traditional Banks Over Online Banks

A new study found that 83% of respondents prefer traditional banks over digital-only, largely due to face-to-face service.

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