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The Latest Breaking News on Financial Services

Woman who held up Lebanese bank for own savings released on bail

A Lebanese woman who last month held up a Beirut bank to retrieve her own savings was released on bail on Thursday after she handed herself in to authorities following weeks on the run, her lawyer said.

Reuters

FEMA violation: Karnataka High Court says it cannot interfere with proceedings unless Xiaomi furnishes bank guarantee for ₹5,551 crore

Company has questioned competent authority’s order of confirming Enforcement Directorate’s order of seizure

The Hindu

Key figure accused of embezzling from failed Bridgeport bank lost $1 million at casinos, sources say

Authorities are trying to determine whether the money Marek Matczuk lost gambling came from the millions he never repaid Washington Federal Bank for Savings.

Chicago Sun-Times

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Digital bank Tandem creating 100 new jobs in Cardiff

The city is now home to some of the UK's leading challenger banks

Birmingham Post

Owner of former East Lothian bank building loses third bid to turn it into a house

The bank building was bought in 2018 for more than double the £225,000 asking price but attempts to resell it with a £595,000 price tag were described by planners as 'excessive'

Edinburgh Live

Ukraine's president nominates new central bank chief

Ukrainian President Volodymyr Zelenskiy asked parliament on Thursday to approve banker Andriy Pyshnyi, who has helped advise the government on implementing sanctions against Russia, as the new central bank chief.

Reuters

£20k paid into Blantyre mum's bank account in bid to 'clean up' dirty money

Lynne MacDonald said she was threatened with violence if she did not co-operate.

Daily Record

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Credit Suisse puts Zurich hotel up for sale in urgent liquidity dash

Ailing Swiss bank’s share price has collapsed after being hit by series of crises

The Guardian - UK

World Bank downgrades India's economic growth forecast to 6.5% for FY23

WASHINGTON: The World Bank on Thursday projected a growth rate of 6.5 per cent for the Indian economy for the fiscal year 2022-23, a drop of one per cent from its previous June 2022 projections, citing deteriorating international environment.

The Times of India

Bank confirms pension funds almost collapsed amid market meltdown

Official explains how promise to buy up to £65bn of government debt staved off destructive UK financial spiral

The Guardian - UK

Marks & Spencer launches digital credit account for Sparks customers

Sparks Pay is initially rolling out as a phased launch on M&S.com and the M&S app.

The Independent UK

How do interest rates affect inflation?

Borrowing costs at their highest level in 14 years

The Independent UK

All the banks that will pay up to £200 free money into your account - from NatWest to TSB

First Direct, TSB and Nationwide and all have “switch bribes” on offer right now. We explain all the eligibility criteria for each bank and how to get the cash

Daily Mirror

BoE intervention ‘stopped Sterling spiral’ as Fitch cuts credit rating

UK central bank says failure to act could have wiped out the value of a large number of funds held by pension companies

The Independent UK

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The Independent UK

Bank of England intervention prevented destructive ‘spiral’ after mini-Budget

Threat to pension funds could have triggered ‘widespread financial instability’

Asharq Al-Awsat

Judge Fines Lebanese Bank Heist Figure, Issues Travel Ban

A Lebanese judge on Thursday fined and issued a six-month travel ban to a woman who stormed her bank with a fake pistol and took her trapped savings to cover her sister's cancer treatment. Lebanon’s cash-strapped banks have imposed strict limits on withdrawals of foreign currency since 2019, tying up…

The Guardian - UK

Kwarteng considers extending mortgage guarantee scheme

Initiative may continue beyond December as bank bosses raise concerns over mortgage market

Liverpool Echo

Martin Lewis shares how to get free £200 from UK bank

New and existing customers can get their hands on the money

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Daily Record

Castle Douglas hosting awareness day to stop people being taken in by fraudsters

The general public will be able to get advice from the police, Citizens Advice, trading standards and victim support

The Guardian - AU

Teen charged with attempting to blackmail Optus customers using stolen data

The 19-year-old Sydney man allegedly sent SMS messages demanding $2,000 to 93 customers whose data had been released online after Optus breach

Bangkok Post

Kasikornbank looks to triple overseas staff

One of Thailand’s largest lenders is on an overseas hiring blitz for jobs in technology and digital banking, as it boosts a regional expansion strategy to counter slowing domestic growth.

The Guardian - AU

Labor attacked by former RBA governor Bernie Fraser for sticking to ‘dodgy’ stage-three tax cuts

Fraser says Albanese government should repeal stage three as the tax cuts are ‘even more unfair’ due to falling real wages

Bangkok Post

SCB 10X touts digital tokens

SCB 10X, a subsidiary of Thailand's oldest lender Siam Commercial Bank (SCB), is ready to make inroads in the digital token business, saying digital assets are attractive for investment and hold high potential to grow in the long term.

The Guardian - UK

World Bank ‘has given nearly $15bn to fossil fuel projects since Paris deal’

A group of 50 NGOs found that bank and subsidiaries had funded oil refinery and gas processing

Bangkok Post

Cabinet reiterates BoT has free rein for its duties

The government has pledged it will not intervene in the central bank's handling of inflation, interest rates and the baht's movement, instead asking the Finance Ministry to provide additional information to the bank.

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