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The Latest Breaking News on Financial Services

Aussies feel social media fails to stop 'scam war'

One in five Australians believe social media giants are encouraging scams to occur on the platforms, a new survey reveals.

AAP

'Doveish hold' feeds through to mortgages as HSBC cuts rates

City Comment: Lower interest rates — finally — should slowly fire up house buyers’ enthusiasm

Evening Standard

Westpac customers in Tennant Creek unable to buy food after ‘disastrous’ branch closure, critics say

Banking watchdog finds Westpac committed ‘serious and systematic’ breaches when closing remote NT branch in 2022

The Guardian - AU

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Westpac sanctioned over 'serious' bank closure breach

Westpac breached banking protocols when it suddenly closed an outback branch, leaving the community to rely on a local charity, an investigation has found.

AAP

Kick It Out hopes to appoint Samuel Okafor as new chief executive

Kick It Out wants to appoint Samuel Okafor, a director of the private bank Coutts, as the anti-racism charity’s new chief executive

The Guardian - UK

Perth Mint urged to come clean on finance law breaches

A clear statement of governance failures is needed from Perth Mint on events leading up to breaches of terrorism financing and laundering laws, a report says.

AAP

Serial rapist in Balding abduction back behind bars

A man convicted over the shocking gang rape of Janine Balding in the 1980s is back in custody less than two weeks after he was released from prison.

AAP

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NatWest to take on most of Sainsbury’s Bank

Deal comes as supermarket seeks to offload businesses in order to focus on core grocery arm

The Guardian - UK

Boosting business: award-winning companies share the secret of success

Behind the scenes with the winners of the Lloyds Bank British Business Excellence Awards

The Independent UK

Mouse Shakers, Power Naps: Corporate America Fights 'Keyboard Fraud'

A US banking giant fired more than a dozen employees for "simulating keyboard activity," highlighting a battle within productivity-obsessed corporate America to tame a culture of faking work with gizmos such as mouse jigglers.

International Business Times

Australia’s biggest companies made nearly $100bn in ‘crisis profits’ amid Covid and Ukraine war

Oxfam analysis finds Woolworths, Hancock Prospecting and NAB among companies to rake in much higher profits off the back of crisis conditions

The Guardian - AU

HSBC’s Swiss private banking arm breached money-laundering rules, regulator finds

Finma watchdog says bank failed to carry out adequate checks of two high-risk business relationships

The Guardian - UK

3 Financial Powerhouses to Anchor Your Balanced Portfolio

Financial institutions are experiencing higher transaction volumes and investments, reflecting improved consumer and business confidence. Moreover, technological advancements have revolutionized the financial landscape. Thus, it could be wise to invest in financial powerhouses JPMorgan (JPM), Morgan Stanley (MS), and Goldman Sachs (GS) to anchor your balanced portfolio. Read on….

StockNews.com

Labour sets out plans for hundreds of new banking hubs

The party said its proposals would mean ‘bringing banking back to high streets’.

The Independent UK

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Evening Standard

Ten arrests after pro-Palestine protesters block entrances to City of London bank

Protesters locked themselves to each other outside Scotiabank

The Guardian - UK

‘I was abused twice, first by my partner and then by my bank’

Charities are calling for more help for women trapped with mortgages they cannot change because they are controlled by an abusive partner

AAP

Terminally ill Bicycle Bandit admits bank robberies

A bank robber known as the Bicycle Bandit has pleaded guilty and apologised to victims, after his lawyer told the SA Supreme Court the man is dying.

International Business Times

Israel's 'Economic War' Chokes Occupied West Bank

Palestinian teenagers bounced on trampolines and jumped through hoops inside a towering tent on the outskirts of Ramallah, the financial hub of the occupied West Bank.

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The Guardian - UK

Ethical banking in the UK: how to put your everyday account to good use

With spotlight on investments behind banks, we ask whether three top providers still offer a good deal

Tom’s Guide

Wells Fargo fires over a dozen employees for faking mouse movements

Multiple employees were fired by Wells Fargo for utilizing mouse jigglers to fake that they were at work.

The Guardian - UK

Barclays suspends sponsorship of Download, Latitude and Isle of Wight festivals

Move follows protests from bands and fans over the bank providing financial services to defence companies supplying Israel

The Guardian - UK

Co-op Bank customers voice anger as business payments taken twice

Some users say they were forced into overdrafts because past transactions were repeated

Newcastle Herald

The inside story on one great bank makeover, and 9 others to make your home

Closing bank branches are making way for homes.

International Business Times

World Bank Upgrades Global Growth Outlook On Resilient US Economy

The World Bank raised its global growth outlook on Tuesday on the back of resilient consumer spending in the United States, but warned that growth remains weak by historical standards.

AAP

Households keep falling behind as rate increases bite

Most borrowers are adapting to tough financial conditions but the number of people in hardship or struggling to meet repayments is growing.

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