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The Latest Breaking News on Financial Services

Ex-China Life Chairman Charged for Bribery, Concealing Overseas Deposits

Wang Bin’s alleged misconduct stretches back to his time at state-owned lenders the Agricultural Development Bank of China and Bank of Communications

Caixin Global

Lloyds and Halifax to shut 40 more banks this year - see full list of branches

Lloyds Banking Group, which owns both banks, will shut 22 Lloyds branches and 18 Halifax sites - see the full list of affected towns and cities below

Daily Mirror

Aberfeldy to lose its last remaining bank premises

Businesses and private customers will no longer have an opportunity to visit the TSB branch in Aberfeldy as the bank is closing its doors in May.

Daily Record

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Fitch: Egyptian Banks’ Capital Ratios Can Withstand Further EGP Depreciation

Fitch Ratings lauded the agreement between the Egyptian government and the International Monetary Fund (IMF) in which Egypt secures a $3 billion loan over 46 months. Fitch Ratings added also said that Egyptian banks’ regulatory capital ratios can withstand further Egyptian pound depreciation as they are supported by healthy internal…

Asharq Al-Awsat

Full list of 40 more Halifax and Lloyds bank branches to close

The closures will not lead to any job losses

Birmingham Post

Full list of Halifax and Lloyds bank branches closing - and when they will shut

Lloyds Banking Group, which owns both high street banks, is to close 18 Halifax sites and 22 Lloyds branches

Wales Online

Tesco Bank gives staff £1,250 cost-of-living pay rise

The move followed discussions with two major trade unions

Insider UK

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Sri Lanka expects financing assurances from China for IMF deal within days

Sri Lanka expects to get China's backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fund, a government official said on Friday, as India pledged further support to its crisis-stricken southern neighbour.

Reuters

Editorial: Rep. George Santos is another embarrassment for the GOP. How much is enough?

Rep. George Santos, R-N.Y., quickly became a global punchline when his multiple, contradictory misrepresentations of his background were revealed after he was elected in November. But there’s nothing funny about Speaker Kevin McCarthy’s refusal to call on Santos to resign, as a few other Republicans have.

Los Angeles Times

Scotland's financial sector has a key role to play in meeting net zero goals

Industry specialist argues that, even during a recession, it pays to not lose focus on tackling the climate crisis

Insider UK

Bombay HC Grants Bail To Videocon Chairman In ICICI Loan Fraud Case

Videocon Group Chairman Venugopal Dhoot was granted bail by the Bombay High Court on Friday in the alleged loan fraud case related to ICICI Bank. Read on for details:

Dynamite News

Court orders daughter, bank to pay over B200m for theft

The Phra Khanong Civil Court has ordered a woman, two bank employees and a commercial bank to pay more than 200 million baht in compensation to a bedridden elderly woman in connection with the theft of over 250 million baht from her accounts.

Bangkok Post

Weekly Must-Read: Where to Now for Alibaba in the Post-Jack Ma Era?

With Ma pulling further back from the reins of his e-commerce empire after ceding control of Ant Group, all eyes are watching to see if relations with the government can be patched up

Caixin Global

SCB X keen on novel banking opportunity

SCB X, the holding company of Siam Commercial Bank, is interested in setting up a virtual bank, aiming to explore new business opportunities.

Bangkok Post

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Bangkok Post

Agency preps operations for new deposit variety

The Deposit Protection Agency (DPA) plans to safeguard customers' accounts at the proposed virtual banks, with the agency preparing its internal operations in line with this new offering.

Evening Standard

Lloyds Pharmacy to close 237 branches in Sainsbury’s — London pharmacies affected

The company, which bought Sainsbury’s 280-strong pharmacy network for £125 million, says the closures are “in response to changing market conditions”

The Guardian - UK

Lloyds Pharmacy to close all 237 Sainsbury’s outlets

Group says move due to ‘changing market conditions’ as industry warns of insufficient government funding

Reuters

Venezuela opposition names committee to manage foreign assets

Venezuela's opposition national assembly on Thursday named the commission members who will manage most of the country's assets abroad, moving ahead with a promise by the body's new leadership as it seeks to unify ahead of expected presidential elections.

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Dublin Live

Man 'threatens to shoot customer with gun' in inner city robbery

The bandit stole an estimated €300 before he made off on a bicycle

Liverpool Echo

Chinese New Year greetings to use when celebrating Year of the Rabbit

We will officially enter the Chinese New Year on January 22

The Guardian - US

JP Morgan chief says US should not be ‘playing games’ with debt ceiling

Jamie Dimon warns that US creditworthiness should be ‘sacrosanct’ as country’s debt races toward $31.4tn limit

Daily Mirror

Tesco Bank offers staff £1,250 pay increase to help with cost of living crisis

Tesco's pay rise to staff, which was given to help with the rising cost of living, was effective from January 8 which means workers will see the increase in their January paycheck

The Times of India

Pakistan economic crisis

In a major blow to cash-strapped Pakistan, the World Bank has delayed the approval of two loans worth USD 1.1 billion until the next fiscal year.

The Independent UK

HSBC rebuked by competition watchdog over open banking breaches

The banking giant provided incorrect data or failed to provide required information on more than 50 different occasions over the past five years.

Caixin Global

Another Central Bank Official Snared in Graft Probe

The investigation into Li Guo may be related to a broader inquiry into corruption in nonbank payment licenses, sources say

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