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The Latest Breaking News on Financial Services

Nationwide's takeover of Virgin Money could be a disaster for the building society

City Comment: I hope I am wrong about this deal

Evening Standard

Co-operative Bank to axe 400 jobs in bid to cut costs

Lender says move is unrelated to takeover talks with Coventry Building Society

The Guardian - UK

Sordid scheme: On the electoral bond scheme, electoral financing

The electoral bonds skewed campaign and party financing heavily in the favour of the ruling party, besides putting a veil over the unscrupulous motivations for the donations

The Hindu

From analysis to the latest developments in health,
read the most diverse news in one place.

3 Bank Stocks Driving Returns Across Industries

The U.S. banking industry is showing signs of recovery due to stabilizing asset quality, potential rate cuts this year, and lower expense growth. Therefore, investors could consider buying fundamentally strong bank stocks Capital Bancorp (CBNK), FS Bancorp (FSBW), and Old Point Financial (OPOF). Read more.

StockNews.com

HSBC and NatWest accused of financing North Sea oil extraction despite pledge

Campaigners call on banks to cease funding Ithaca, which is playing a key role in Rosebank oilfield plan

The Guardian - UK

Afternoon Update: one in 20 mortgage holders spending more than they earn; Reddit shares soar; and a crocodile in a service station

Reserve Bank says share of mortgage holders under pressure should halve by the end of 2025

The Guardian - AU

Ethiopian Bank Glitch Lets Customers Withdraw Up To £32m at ATMs

Ethiopian students took advantage of a glitch involving the Commercial Bank of Ethiopia before police stopped further withdrawals from happening.

International Business Times UK

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Letters to The Editor — March 20, 2024

Readers’ mail to The Hindu’s Letters to The Editor

The Hindu

Assailants Attack Central Bank As Gang Violence Grips Haiti

Security forces in Haiti killed at least three people, repelling an attack on the central bank as gang violence surges in the capital of Port-au-Prince, an employee said Tuesday.

International Business Times

Decoding electoral bonds data

Incomplete disclosure of electoral bond data raises suspicions of corruption and quid pro quo in political funding.

The Hindu

Repacholi blasts 'Sydney fat cats' over bank closure in double-barrel spray

The region has been rocked by two branch closures.

Newcastle Herald

What will happen to Greater and Permanent HQs beyond $20b bank merger?

It's been one year since the $20-billion merger.

Newcastle Herald

Scottish Widows staff told not to use the word ‘widow’ as it triggers some customers

Bank bosses say it may spark ‘unwarranted personal memories of trauma and upsetting situations’

Evening Standard

Starling bank refused a £10,000 scam refund for my grieving, ill husband

The scammers struck two days before he was due to have major heart surgery, and in the midst of grieving for our daughter, who was murdered overseas

The Guardian - UK

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news in one place.

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AAP

Subsidiaries offer cheaper rates than big bank parents

Big banks are attracting new customers via their subsidiaries and digital offshoots while customers with their main brands keep their margins healthy.

The Guardian - UK

Nationwide faces mounting calls to give members say on Virgin Money takeover

Experts question if ‘bigger is better’ and whether members should be consulted on the £2.9bn deal

The Hindu

ED attaches immovable assets of a hotel worth ₹44 crores under money laundering case

The Enforcement Directorate (ED), Mumbai, has provisionally attached immovable properties consisting of Hotel One Continent at King Koti Road, Sultan Bajaar, Abids, Hyderabad, to the extent of ₹43.84 crore under the provisions of Prevention of Money Laundering Act (PMLA), 2002, in loan fraud case of the Punjab and Maharashtra Cooperative…

The Hindu

Watch | Electoral bonds: Who were the biggest donors?

Overall, donors acquired electoral bonds worth over ₹12,155 crores during this period, with political parties encashing over ₹12,769 crores in the same duration

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news in one place.

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Dynamite News

"Na khaunga, na khane dunga'": Kipal Sibal takes dig at PM over electoral bonds data

Rajya Sabha MP Kapil Sibal Friday launched a veiled attack on Prime Minister Narendra Modi a day after the Election Commission published the electoral bonds data shared by the State Bank of India on the orders of the Supreme Court. Read further on Dynamite News:

The Hindu

Making sense of the electoral bonds data

Electoral Bonds data: Supreme Court seeks SBI response on electoral bonds disclosure; largest donor revealed in data released by ECI.

International Business Times

Lawmaker Says Fed Pursuing CBDC Despite Publicly Stating Otherwise

The Federal Reserve may be pursuing a CBDC even if it recently reassured a Senate committee that it was far from recommending a digital currency, according to a list of the Fed's priorities that was publicized by a Republican House representative.

Dynamite News

SBI tells SC it has complied with its direction to provide Electoral Bonds data to ECI

The Chairman of SBI has filed an affidavit in the Supreme Court apprising that in compliance with the top court's order, date of purchase of each Electoral Bond, the name of the purchaser and the denomination of the Electoral Bond purchased has been furnished to the Election Commission of India.…

The Guardian - UK

Metro Bank increases job cuts to 1,000 and ends seven-day branch model

Lender nearly triples size of cost-cutting plan to £80m after autumn rescue deal

Al Jazeera

Who is Muhammad Aurangzeb, the man tasked with fixing Pakistan’s economy?

A veteran banker, Aurangzeb is a political outsider who analysts say must grapple with IMF reforms and crippling debt.

The Hindu

IDBI Bank seeks CBI probe in ₹5 crore delivered to wrong premises incident in Mangaluru

According to I-T officials, bank officials also could not establish through documents the purpose for which the cash had been withdrawn from the vault.

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