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The Latest Breaking News on Financial Services

Determining the future of virtual banking

The Bank of Thailand has issued a consultation paper for the virtual bank licensing framework as part of its hearings into the creation of virtual banks as new financial service providers. Below are details about virtual banks listed in the paper and frequently asked questions.

Bangkok Post

Jes Staley ‘personally observed’ Epstein’s abuse, woman suing JPMorgan claims

A woman suing JPMorgan Chase & Co. for facilitating her sexual abuse by Jeffrey Epstein is claiming Jes Staley “personally observed” that abuse when he was the bank’s head of private wealth.

Tribune News Service

New B&M store plan could bring 40 jobs to Southport

But concerns have been raised the store could relocate from its existing Lord Street shop

Liverpool Echo

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Former Bootle tax office could be demolished to make way for warehouse

Plans were submitted to Sefton Council last week

Liverpool Echo

Hundreds oppose plans for new betting shop in Staple Hill

Residents are objecting to a planning application to convert an old bank on the high street into a betting shop

Bristol Post

Full list of the Barclays banks set to close this year as 15 more confirmed

The closures are expected to take place from April

Birmingham Post

Barclays to shut 15 more banks this year - see full list of affected branches

The latest closures comes on top of 11 sites already earmarked by Barclays in 2023 - taking the total number of banks set to close their doors for good this year to 26

Daily Mirror

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U.S. Supreme Court mulls Turkish lender Halkbank's bid to avoid charges

U.S. Supreme Court justices on Tuesday grappled with thorny questions of sovereign immunity as they weighed a bid by Turkey's state-owned lender Halkbank to avoid criminal charges in the United States for allegedly helping Iran evade American economic sanctions. The nine justices heard arguments in Halkbank's appeal of a lower…

Reuters

U.S.-China friction stokes concern among some top finance bosses

The bosses of global investor Fidelity International and accountancy giant EY have voiced concerns about a fracturing of relations between the U.S. and China, speaking at the World Economic Forum in Davos on Tuesday.

Reuters

IMF bailout: India to back Sri Lanka's debt restructuring plan

NEW DELHI: India formally notified that it would support Sri Lanka’s debt restructuring plan, according to a person with knowledge of the matter, clearing a major hurdle for the bankrupt nation to unlock a $2.9 billion bailout from the International Monetary Fund.

The Times of India

Lloyds Bank issues £642 warning to all customers

Lloyds Bank is warning people to be vigilant

Liverpool Echo

Banking customers withdrew £83bn from ATMs in 2022, says Link network

The number of fee-charging ATMs fell last year, Link said.

The Independent UK

SMEs share transformation stories

Fifty-five percent of small and medium enterprises in Southeast Asia are optimistic about their business recovery after the pandemic, but they realise they need to make changes to stay competitive, the UOB Asean SME Transformation Study 2022 has found.

Bangkok Post

RBI proposes banks to design own credit loss models under newer provisioning system

MUMBAI: Banks will be allowed to design own credit loss models and spread the higher provisions over a five-year period under a newer system of setting aside money for lending, the RBI proposed on Monday.

The Times of India

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The Independent UK

Lenders have ‘obligation’ to support struggling borrowers, Bank governor says

In a meeting about the UK’s financial stability, Andrew Bailey told the Treasury Committee that banks are much stronger financially than in the past.

The Times of India

4 of family from TN found dead in Telangana

HYDERABAD: Four members of a family from Tamil Nadu were found dead under suspicious circumstances with one of them found hanging at an apartment in Hyderabad on Monday, police said.

Reuters

Hong Kong judge defends judiciary amid fears of ebbing independence

Hong Kong's top judge defended the independence of the judiciary in the Chinese-ruled territory amid international and local criticism of deteriorating legal freedoms since a national security law was introduced in 2020.

The Conversation

Nigeria's university system needs radical reform: student loans for more than 100 million people might be a good place to start

Amid strikes by Nigeria’s Academic Staff Union of Universities, one thing is clear: the current funding model for the country’s public universities is broken. The government’s new Higher Education Bill aims to fix it.

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USA Today Sports Media Group

Will the Commanders’ sale ‘be over soon?’

No Jeff Bezos, no problem. Could the Commanders be sold sooner than we think?

Birmingham Post

Swedish bank Handelsbanken expands in Cardiff

Its Cardiff branch has moved to new offices at the Callaghan Square office scheme

Birmingham Post

Ulster Bank PMI: Northern Ireland private sector contracts at fastest rate in 2 years

All four sectors were hit hard, but signs of easing inflation offers hope

The Independent UK

Number of Scots in work falls for first time in almost two years, says RBS

The Royal Bank of Scotland said the number of people in employment fell for the first time since April 2021.

The Guardian - UK

Young people warned not to be exploited as ‘money mules’ for UK criminal gangs

West Midlands commissioner and HSBC say moving illegally gained money is an offence that helps serious crime

Manchester Evening News

Supermarket takes back 'most expensive' title after just a week as customers in 'shock' over prices

The supermarket is the only one to increase in price in this week's comparison of basics

ABC News

Victims of bank Ponzi-like scheme in China unable to withdraw money from frozen accounts

Since April last year, at least $8.5 billion has been frozen, leaving bank customers in dire straits. When they tried to protest, they allege they received brutal treatment from the police.

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