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The Latest Breaking News on Financial Services

Britons ‘hoarding cash amid economic uncertainty and fear of outages’

Households seeking safety net in time of global volatility, according to Bank of England’s chief cashier

The Guardian - UK

Who Is Marianne Lake: Is International Banking Wiz Set To Replace JP Morgan CEO Jamie Dimon?

Marianne Lake's extensive career and innovative vision position her as a strong contender to lead JPMorgan after Jamie Dimon

International Business Times UK

Ukraine as Hidden Frontier for Bold Investors: B4P's Mark Thornton on Turning Crisis into Capital

The prevailing narrative around Ukraine is usually dominated by images of destruction and disruption. For many in the global business community, these headlines paint a picture of uncertainty and instability. Mark Thornton, the founder and CEO of Business for the Planet (B4P), is among the voices cutting through the noise.

International Business Times

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NatWest apologises to millions of customers locked out of app

In latest IT outage to hit a UK bank, group is investigating problem caused by update to app late on Thursday

The Guardian - UK

Fed lifts restrictions placed on Wells Fargo in 2018 because of its fake-accounts scandal

The Federal Reserve said Tuesday that Wells Fargo is no longer subject to the restraints the Fed placed on the bank in 2018 for having a toxic sales and banking culture

The Independent UK

No End in Sight: JPMorgan Boss Jamie Dimon Clings to Power as He Keeps Successors Waiting

JPMorgan's Jamie Dimon isn't retiring anytime soon, leaving heirs waiting and shareholders cheering. Can he navigate the bank through economic turmoil?

International Business Times UK

Chime IPO: Should You Buy CHYM Stock?

The Chime IPO is one of the biggest new issues of the year, with the mobile banking platform soaring in its June 12 market debut.

Kiplinger

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Starling pays out fivefold bonus sum despite FCA fine and Covid loan errors

Staff get £24.6m after year in which bank was penalised for ‘shockingly lax’ controls and profits fell 25% to £223m

The Guardian - UK

'It's Going to Kill Us': Jamie Dimon Warns of a Threat to the US 'More Dangerous Than China'

JPMorgan CEO Jamie Dimon warns that internal dysfunction—not foreign powers like China—poses the greatest threat to America's future stability and economic health.

International Business Times UK

Hubris, crisis and scandal: how the NatWest ‘soap opera’ unfolded

From Fred ‘the Shred’ Goodwin to Nigel Farage ousting the CEO, it’s been a bumpy ride for the now-privatised banking group, formerly RBS

The Guardian - UK

Why was NatWest rescued in 2008 and what has changed for the bank in that time?

At its peak, the Government had an 84.4% shareholding in the group, and did not start selling shares until 2015.

Evening Standard

Government sells final shares in NatWest 17 years after £45bn bailout

Sale ends state ownership of the banking group, then known as Royal Bank of Scotland, after 2008 rescue

The Guardian - UK

African Development Bank elects top economist as president to face funding challenges

The African Development Bank Group has elected Mauritanian economist Sidi Ould Tah as its ninth president

The Independent UK

53 NatWest branches to close in 2025 – full list revealed

Dozens of NatWest bank branches have closed down over the last few years, with plenty more scheduled for 2025.

Evening Standard

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Evening Standard

Nationwide to hand out £100 each to 4 million people from next month - are you eligible?

Are you eligible for the building society’s latest hand out?

International Business Times

Africa Elects Its Next 'Super Banker'

The race to become Africa's next "super banker" ends on Thursday, with five candidates, including one woman, vying to succeed Nigeria's Akinwumi Adesina as head of the African Development Bank in a contest that appears too close to call.

The Guardian - UK

Starling’s profits drop 25% as bank takes blame for Covid loan losses

Our own weak controls led to £28m of losses through government’s bounce back loans, says chief executive

The Independent UK

Customers conned into sharing passcodes as online fraud cases surge in UK

Criminals are using social engineering to trick people into divulging one-time passcodes

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news in one place.

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AAP

Ailing hospital operator vows wards will stay open

Tens of thousands of Australian hospital workers are being assured their jobs are safe as a lifeline from banks props up a major private health operator.

The Guardian - UK

Taxpayers set for £10bn loss on NatWest as disgraced ex-boss takes £600k-a-year pension

Government expected to sell last shares in banking group this week, drawing a line under 2008 financial crisis bailout

AAP

Card-skimming scam nets almost $1m before pair charged

Federal police are investigating whether two Romanian men arrested over the alleged card-skimming scheme had any links to an earlier scam.

Al Jazeera

JPMorgan’s Dimon warns of US stagflation risk: Report

Economists echo Jamie Dimon’s concerns as US credit downgrade and tariff-driven uncertainty continue.

The Guardian - UK

HSBC high street bank staff face bonus cuts over remote working

Bank’s UK division hardens hybrid working policy with requirement to spend at least 60% of time in office

The Independent UK

Lloyds account ‘will help empower affluent customers to reach financial goals’

The bank said the Lloyds Premier account is a ‘strategically important milestone’ in its growth ambitions for affluent customers.

Kiplinger

The $425 Million Capital One 360 Savings Settlement: Who’s Eligible for a Payout and What Happened?

Capital One agreed to a $425 million settlement over its 360 Savings account interest rates. Here’s what you need to know.

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