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The Latest Breaking News on Financial Services

Perthshire town put forward as a great location for shared banking hub idea being tried out in Scotland

To offset the loss of three bank branches which have deserted Aberfeldy in Highland Perthshire, local MP Pete Wishart has said the town would be perfect to site a 'banking hub' where the different banks all had a public presence and shared the associated costs.

Daily Record

Credit Suisse ‘seriously breached’ obligations on Greensill, says regulator

Swiss bank is seeking to recover $10bn of funds linked to collapsed supply chain finance firm

The Guardian - UK

Edinburgh law firm appoints chief operating officer

The firm's relationship banker for 18 years while at RBS, the new hire joins at the start of April

Insider UK

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Scottish business confidence sees February uptick

Scottish firms prioritising hiring new employees, introducing new technology and evolving their offer

Insider UK

Newcastle's historic Greater, Perm banking merger begins today

The merged entity's priorities will be "retaining and growing our customers".

Newcastle Herald

Lebanon: Mikati Rejects Accusations of Interfering in Judiciary

Caretaker Prime Minister Najib Mikati reiterated that his calls on the outgoing Interior Minister to block judicial “violations” taken by FPM Judge Ghada Aoun against local banks are not considered an interference in the judiciary. He emphasized that some decisions must be taken for the good of the country. “We…

Asharq Al-Awsat

Lenders maintain Adani Enterprises' credit limits despite Hindenburg report allegations

NEW DELHI: A group of lenders, led by the State Bank of India (SBI) conducting an annual review of Adani Enterprises Ltd (AEL), have decided to maintain the credit limits previously sanctioned for Gautam Adani's flagship company, the Economic Times reported quoting two sources on Tuesday.

The Times of India

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Baht declines amid volatile markets

The baht fell to less than 35 against the US dollar on Monday and recorded its lowest level for two months, after being the most volatile currency traded in the region this year.

Bangkok Post

Climate campaigners sue BNP Paribas over fossil fuel finance

Action against one of Europe’s largest financial institutions is the first climate-related lawsuit against a commercial bank

The Guardian - UK

Callous Scot embezzled almost £50k from her frail 90-year-old mother

Margaret Bolland was granted power of attorney over her mother Mary Bolland’s finances in September 2014.

Daily Record

Chinese bank says missing chairman is cooperating with Chinese authorities in an investigation

China Renaissance Holdings said on Sunday that its missing chairman and star dealmaker Bao Fan was currently cooperating with relevant Chinese authorities conducting an investigation.

Reuters

Inside deserted UK shopping centre which was once the biggest indoor mall in Europe

Shopping City in Runcorn, which opened in the 70s, and once drew in customers from Manchester and Liverpool is now a shell of itself

Daily Mirror

Yellen says World Bank nominee's credentials will overcome selection criticism

U.S. Treasury Secretary Janet Yellen said on Saturday that she believes the strong qualifications of the U.S. nominee to lead the World Bank, ex-Mastercard CEO Ajay Banga, will overcome any criticism of the selection process.

Reuters

Analysis-Incoming World Bank chief faces tests before he gets to climate

Ajay Banga, U.S. President Joe Biden's pick to run the World Bank, will face a tough slate of issues around the institution's finances and capital structure from the get-go, thorny problems he must address as he reshapes the bank into a force for combating climate change on top of its…

Reuters

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Bangkok Post

Line BK maintains data development goal

After operating for more than two years, Line BK, a social banking collaboration between Kasikornbank (KBank) and Line Corporation, aims to book a net profit in 2024.

Ballotpedia

New York Court of Appeals issues five opinions from Feb. 13-19

The New York Court of Appeals issued five opinions from Feb. 13-19. As of Feb. 19, the court issued nine opinions in 2023—six fewer than this point a year ago. The five opinions are below:

Reuters

Morocco says removal from financial watchlist will help ratings

The Financial Action Task Force's decision on Friday to remove Morocco from its "grey list" of countries under special scrutiny will help Rabat's position in talks with international financial institutions, the Moroccan government said.

The Independent UK

Biden selects ex-Mastercard CEO Ajay Banga to lead World Bank after Trump-appointed president resigns over climate row

Ex-Mastercard CEO has worked closely with Vice President Kamala Harris in efforts to address root causes of migration from Central America

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The Guardian - UK

Joe Biden nominates former Mastercard boss Ajay Banga to lead World Bank

US president puts forward choice to oversee new focus on climate crisis after resignation of Trump appointee David Malpass

The Independent UK

US nominates Ajay Banga for World Bank president

The United States is nominating former Mastercard CEO Ajay Banga to lead the World Bank

Reuters

China finance veteran Zhu set to head central bank- sources

A career banker and head of a state-run financial conglomerate, Zhu Hexin, is likely to become governor of China's central bank after next month's annual session of parliament, according to people familiar with the matter.

Liverpool Echo

Man pointed 'gun' at Halifax staff in front of terrified child

In a victim impact statement staff said they thought they were going to die

Asharq Al-Awsat

World Bank Hopes to Select New Chief by May

The World Bank said Wednesday it hopes to find a successor by early May to chief David Malpass, who has announced he will step down nearly a year early. The Washington-based development lender will begin accepting candidate nominations on Thursday, a process that will run until March 29. The bank…

Tribune News Service

JPMorgan says Staley-Epstein emails don’t show force, coercion

Emails exchanged between JPMorgan & Chase Co. executive Jes Staley and Jeffrey Epstein fail to show that minors were victimized or that “force, fraud or coercion” were used against women, the bank said in court filing asking a judge to dismiss a U.S. Virgin Islands lawsuit.

Evening Standard

A tough nut for the thinking banker at Lloyds to crack

City Comment: Will Charlie Nunn attract the “mass affluent” to Lloyds?

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