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The Latest Breaking News on Financial Services

World Bank slashes economic outlook for Asia over China slowdown

The Washington-based lender expects the region to grow 3.2 percent in 2022, down from a 5 percent forecast in April.

Al Jazeera

Development bank fires director after ethics probe

Governors of the Inter-American Development Bank have voted to fire its president, Mauricio Claver-Carone

The Independent UK

Bank of England’s wait-and-see approach unlikely to calm nerves

After a day of volatility, the Bank’s statement was a far cry from the cavalry arriving to help the battered pound

The Guardian - UK

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Exclusive-Trump nominee Claver-Carone voted out at IDB, threatens legal action

The governors of the Inter-American Development Bank (IDB) on Monday voted to fire Mauricio Claver-Carone, the bank said, after an investigation showed that the only American president in the bank’s 62-year history had an intimate relationship with a subordinate.

Reuters

Gateshead niece who stole cash from shielding elderly uncle given one last chance to avoid jail

Linzi Elder, of Gateshead, has breached her suspended sentence order for fleecing her relative three times by failing to attend appointments

Chronicle Live

Pound comes under new pressure after Bank of England fails to raise rates

Central bank stops short of emergency rate hike and instead says it will make full assessment in November

The Guardian - UK

Bank of England 'won't hesitate' to change interest rates after pound plummets

Andrew Bailey, the Governor of the Bank of England, has said there will be no hesitation to change the interest rates "by as much as needed" to get inflation under control after the pound hit a record low

Daily Mirror

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Lloyds warns British Gas customers about email scam

Energy customers warned about hoax to get payment details

Evening Standard

What could the Bank of England do after pound plummets to record low?

Analysts want Bank of England to increase interest rates to ‘restore credibility’ to UK economy

The Independent UK

Bank of England says it 'will not hesitate' to change interest rates in emergency statement

THE Bank of England is preparing to make an emergency statement this afternoon after the pound plummeted to its lowest ever level against the US…

The National (Scotland)

Metro Bank to give staff 2.75% pay rise to help with soaring cost of living

The UK bank said 98% of employees will get the bonus - and it comes on top of the 5% average salary increase that came into effect in April this year, meaning a total pay rise of 7.75%

Daily Mirror

Lebanese banks reopen partially after weeklong closure

Banks in crisis-hit Lebanon have partially reopened following a weeklong closure amid a wave of heists and protests

The Independent UK

Bank of Thailand to go for another modest 25 bps hike on Wednesday

BENGALURU: The Bank of Thailand will deliver another 25 basis-point rate hike on Wednesday, its second in a row, even as many of its peers opt for larger increases to fight high inflation, a Reuters poll showed on Monday.

Bangkok Post

Work starts on transforming dilapidated bank in Sutton-in-Ashfield into flats

The bank shut three years ago

Nottingham Post

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The Independent UK

‘A matter for the Bank of England’: Liz Truss refuses to discuss if UK in recession

Chancellor Kwasi Kwarteng also claims he can’t comment on ‘market movements’ following pound’s plunge

The Times of India

Tamil Nadu: CBI court gives 3 year prison time for 30-year-old case

CHENNAI: A Special court for CBI cases in Chennai sentenced the deceased former Chairman and Managing Director of Indian Overseas Bank and Kiran Overseas Bank along with its directors to three years imprisonment for misappropriation of bank funds and causing financial risk to Indian Bank.

The Times of India

Tamil Nadu: CBI court sentences deceased bank chairman, directors to 3 year jail in 30-year-old case

Asharq Al-Awsat

Lebanon's Banks to Reopen on Monday

Lebanon's banks will reopen on Monday, with each taking their own measures, the country's banking association said in a statement on Sunday. The country's banks have shut for about five days following a spree of bank hold-ups by frustrated depositors seeking access to their frozen savings. On September 16, several…

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The Guardian - UK

Head of World Bank under pressure after White House condemns his ‘climate denial’ comments

David Malpass apologises after saying he ‘doesn’t know’ if he accepts climate science

Liverpool Echo

Inside the abandoned tunnels and vaults under famous Liverpool street

The long forgotten spaces have a rich history

Reuters

White House condemns World Bank chief Malpass's climate comments

The White House on Friday said it condemned recent comments on climate change by World Bank President David Malpass, who came under fire this week after he declined to say whether he accepts the scientific consensus on global warming.

The Hindu

Union Bank of India opens ethical hacking lab

Hyderabad

Birmingham Post

Pivotal buys Danske Bank UK's Northern Ireland non-bank ATM network

The deal sees 107 ATMs come under Pivotal's control while Danske Bank will retain ownership of its 85-strong branch ATMs

Manchester Evening News

Police launch investigation after early morning bank raid at Barclays in Altrincham

Thieves fled empty-handed after smashing the front doors

Birmingham Post

Air filter firm invests in UK operations as it shortens supply chain

Somerset-based Jasun Envirocare said it had seen a rise in demand for its air filtration system since the start of the Covid-19 pandemic

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