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The Latest Breaking News on Financial Services

Armed man demanding savings holds Beirut bank staff hostage

A Lebanese security official says a man armed with a shotgun has broken into a Beirut bank, holding employees hostage and threatening to set himself ablaze with gasoline unless he receives his trapped savings

The Independent UK

Explainer-Britain and regulators square up over post-Brexit financial reform

Britain's government proposed a far-reaching financial services law last month to exploit "freedoms" to write its own capital market rules since leaving the European Union.

Reuters

Hostage standoff at Beirut bank ends with gunman’s surrender

Banks in Lebanon have implemented informal capital controls amid ongoing economic crisis, effectively freezing savings.

Al Jazeera

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Algerian Judiciary Jails Two Ex-Ministers on Corruption Charges

A court in Algiers sentenced on Wednesday two former ministers to jail on corruption charges. Sidi M'hamed Court of Algiers sentenced former Minister of Finance Mohamed Loukal to six years in prison and a fine in Algerian dinar and ordered lifting seizure on all his seized assets upon the examining…

Asharq Al-Awsat

Perth woman Moe Moe Myint Kelly jailed over 'ruthless' theft of $2 million from employer

A 65-year-old Perth woman is sentenced for a stealing $2 million from her employer over a period of seven years - offending the prosecutor described as a "massive breach of trust".

ABC News

Primark to reopen flagship store four years after it was destroyed by fire

The retail giant is targeting the first week of November to reopen its Bank Buildings branch in Belfast.

The Independent UK

Bank of Thailand signals gradual moves after first hike since 2018

The Bank of Thailand (BoT) has signalled sticking with measured moves going forward to fight inflation without derailing the economic recovery, after raising the benchmark policy rate for the first time in more than three years.

Bangkok Post

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Urgent warning for Irish bank users over text and call scams with people losing out on €1,700

'Smishing' victims were swindled out of an average of €1,700 for the first six months of the year - with the problem expected to get worse in the next six months

Irish Mirror

CBA predicts $3 trillion cost for net zero

The Commonwealth Bank plans to target the most emissions-intensive sectors first and set interim targets over the next 12 months.

AAP

Thai growth downgraded by Citibank

Citibank has downgraded its 2022 forecast for Thai economic growth to 3.5%, from 3.6%, with next year's GDP predicted to expand by 4.5%, a fall from 4.8%.

Bangkok Post

CBA profit jumps to nearly $10 billion

Australia's biggest lender has lifted its annual profit by 11 per cent and declared a final dividend of $2.10 a share.

AAP

CBA results drag down finance sector as ASX trades lower on international inflation nerves

Australian shares are trading lower on Wednesday, as investors await crucial inflation data out of the US. Data out of China has already showed that price hikes there are rising, too.

ABC News

CBA increases profit to $9.7 billion, says most customers can cope with rising interest rates

The Commonwealth Bank announces a 9 per cent increase in profits, despite a fall in its home loan interest margins.

ABC News

Banks vow to keep rates steady for the time being

Local major banks plan to hold their interest rates steady if the Bank of Thailand raises the policy rate on Wednesday, as they want to mitigate its impact on borrowers amid a gradual economic recovery.

Bangkok Post

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Liverpool Echo

Barclays announce more branches will close forever to customers

By the end of the year Barclays will have closed 170 sites

Tribune News Service

Student-loan freeze led to big credit-score gains, NY Fed says

The pandemic-era freeze on student debt payments has “dramatically” improved credit scores for Americans who borrowed money to pay for college, the Federal Reserve Bank of New York said.

Bangkok Post

LH Bank zeroes in on Taiwanese prospects

Land and Houses Bank (LH Bank) is putting more focus on Taiwanese businesses in Thailand, aiming for 70% loan growth in this corporate customer segment in 2022.

ABC News

NAB sees profit rise, consumer confidence tumbles, and ASX edges higher

Investors are disappointed despite NAB's rise in quarterly profits, the ASX rises modestly, and consumer confidence tumbles.

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Wales Online

Closure of town's last remaining bank leaves older residents 'ignored'

'I cannot comprehend how a town can be without a bank'

The Guardian - UK

Interest rate rise will be as useful as medieval bloodletting

Letter: The Bank of England’s recent rate increase will do nothing to curb inflation, says Jean-Claude Fouque

The Guardian - UK

Fading global cooperation will make this crisis worse than the recession of 2008

The global financial crisis brought large economies together but the current crisis comes at a time of deep division

Daily Mirror

Santander and Barclays become first banks to hike mortgages after interest rates rise

Santander was the first high street bank to confirm its SVR mortgage rates are rising, with its rate increasing by 0.50% to 5.99% from the beginning of September

ABC News

CBA, ANZ, Westpac and NAB lift interest rates after two days of 'radio silence'

After two days of silence, Commonwealth Bank was the first of the "big four" banks to lift interest rates on its variable mortgages by 0.5 percentage points — in an uncharacteristically slow response to the Reserve Bank's rate hike on Tuesday.

The Guardian - UK

Lloyds lays bare impact of soaring inflation on everyday customers

Families spending on average £89 more a month on energy, food and fuel than before pandemic, says bank

Birmingham Post

Full list: Lloyds bank and Halifax announce a further 66 branches set to close

Lloyds Banking Group has announced a further 66 branch closures - that's on top of closures already announced in recent months

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