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The Latest Breaking News on Financial Services

Shanghai Composite Index Rose 0.13% on Tuesday

Shenzhen Component Index closed down 1.18%

Caixin Global

ANZ set to pull out of pariah state Myanmar after facing 'increasing operational complexity'

ANZ announces it will pull out of Myanmar, dealing a blow to the country's military junta and potentially ramping up pressure on other overseas banks to turn their backs on the regime.

ABC News

Banks report dip in NPL ratios

Banks posted lower non-performing loan (NPL) ratios in the third quarter this year thanks to the economic recovery and appropriate risk management under their debt relief programmes.

Bangkok Post

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Santander unveils new current account with cashback and linked savings interest

Up to £20 cashback per month will be available with Santander Edge and a linked savings account will also offer 4% interest on balances up to £4,000.

The Independent UK

Businessmen seek $5 million in TIF funding to install surveillance cameras in Fulton Market, Garfield Park

The ACLU of Illinois has repeatedly raised alarms about such cameras, warning last year that the city’s camera system “continues to operate without any regulation or privacy or regular public reporting.”

Chicago Sun-Times

Talks aimed at quashing Ponzi fraud

The Department of Special Investigation (DSI) and the Finance Ministry have discussed methods to strengthen their efforts to prevent Ponzi schemes, says Fiscal Policy Office director-general Pornchai Thiraveja.

Bangkok Post

In closing argument, prosecutor insists ‘absolute power’ corrupted former South Carolina banker Russell Laffitte

CHARLESTON, S.C. — In her closing argument of former South Carolina banker Russell Laffitte’s federal bank fraud trial Monday, prosecutor Emily Limehouse said, “Absolute power corrupts absolutely.”

Tribune News Service

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Central Bank Plans New Lending Tool to Support Embattled Developers

Addition of $28 billion at zero cost is intended to encourage 18 big banks to issue credit to builders with stalled residential projects

Caixin Global

Banpu subsidiary BKV keen on US listing

Non-oil energy conglomerate Banpu Plc is preparing to list its subsidiary BKV Corporation on the New York Stock Exchange to grow its businesses in the US and support efforts to cut carbon dioxide emissions.

Bangkok Post

Lanarkshire banking hub recognised for success at awards ceremony

Cambuslang BankHub opened last year

Daily Record

Auditors in Iraq uncover staggering $2.5 billion tax fraud

Auditors in Iraq have uncovered a massive scheme in which a network of businesses and officials embezzled some $2.5 billion from the country’s tax authority, despite layers of safeguards

The Independent UK

Prosecution rests in Trump Organization’s tax fraud case

Prosecutors in the Trump Organization’s criminal tax fraud trial have rested their case

The Independent UK

Four arrested by UPSTF for cloning ATM cards in Lucknow

LUCKNOW: A team of STF nabbed four members of a gang involved in cloning the ATM cards of innocent people and withdrawing money from Eldeco Trisection in Malhaur under Chinhat police station area on Monday.

The Times of India

Lebanon Central Bank to Use Forex Rate of 15,000 Pounds per Dollar as of Feb. 1

Lebanon's central bank will adopt an exchange rate of 15,000 Lebanese pounds per US dollar as of Feb. 1 as part of a process to unify the country's multiple exchange-rate system, Lebanese central bank governor Riad Salameh said on Monday. The central bank's official rate is currently set at 1,500…

Asharq Al-Awsat

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Daily Mirror

Man robs bank with a demand note written on the back of his own birth certificate

Michael Conley Loyd, 30, from Missouri, stormed into a Bank of America branch in Springfield in July, 2021, stole $754 and quickly escaped in a stolen black pickup truck

The Independent UK

Ivanka Trump tried to escape judge’s order to monitor Trump family finances, report says

Ex-president’s daughter no longer holds a position with her family’s company

AAP

Bank changes urged to stop financial abuse

A new report has called on banks to introduce better protections on joint accounts to stop financial abuse against women.

StockNews.com

1 Tech Stock to Buy This Week for Under $50

Tech stock Cisco Systems (CSCO) is trading below $50. The company recently reported its fiscal first quarter results, beating consensus revenue and earnings estimates despite macroeconomic and supply chain issues. The company also upped its guidance for fiscal 2023. Thus, it could be wise to buy the stock now. Read…

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Evening Standard

What the FTX downfall can teach us about crypto regulation

City comment: Far from quashing innovation, crypto regulation will set essential ground rules and protections for market participants

Glasgow Live

New restaurant bid for Glasgow bank building left vacant for two years

Plans for a restaurant with a takeaways and then an amusement arcade have both failed to materialise but a new applicant hopes to secure permission to develop the building.

Caixin Global

Canada’s Manulife Approved to Take Full Control of Its China Mutual Fund Venture

The insurance giant will follow in the footsteps of BlackRock, Fidelity, and Neuberger Berman in running a wholly foreign-owned mutual fund business

Chronicle Live

Virgin Money agrees 10% pay rise for staff on top of £1,000 cost-of-living payment

The bank has also revealed rising revenues as interest rates are increased

The Times of India

Rupee falls 7 paise to close at 81.81 against US dollar

MUMBAI: The rupee depreciated 7 paise to close at 81.81 (provisional) against the US dollar on Monday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities.

Daily Record

Lanarkshire students to benefit from ScotRail half price festive offer

College and university students will be able to take advantage of half price travel on any off-peak ticket

Insider UK

Virgin Money reveals 10% pay rise for staff

Pre-tax profits were up to £595m during the year to the end of September

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