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The Latest Breaking News on Financial Services

Bristol financial services firm reports consecutive 'record' year

Ultimate Finance said it’s loan book had grown to a record high, amid a 'turbulent' political and economic backdrop

Birmingham Post

Baht at 9-month high worries exporters

Gains in the baht, Asia’s best performer in the past six months, are frustrating exporters and many businesses that say the strong currency is hurting them.

Bangkok Post

Ex-Insurance Bailout Fund Official Hid Assets Overseas, Beijing’s Probe Shows

A corruption investigation has found that Fu Fei traded favors for gifts and failed to disclose his children’s residency status in Hong Kong

Caixin Global

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read the most diverse news in one place.

Regulator consults on protections for insurance customers struggling financially

The FCA is proposing to update guidance introduced during the pandemic.

The Independent UK

Additional Support to Beneficiaries of Saudi Citizen Account Program Extended

Additional assistance given to beneficiaries of Saudi Arabia’s Citizen Account Program will be extended for another three months until March with registration in the Program being reopened in line with the previously announced regulations. The move comes after an order made by King Salman at the recommendation of Crown Prince…

Asharq Al-Awsat

Million pound makeover planned to transform old bank into boutique hotel and café bar

The Pontypridd bank will be transformed by local business owner

Wales Online

Riyadh Mulling Raising Investments in Pakistan to $10 Billion

Prince Mohammed bin Salman, Crown Prince and Prime Minister, ordered that that Saudi Arabia’s investments in Pakistan be reviewed so that they could be increased to 10 billion dollars. The Kingdom had declared investments in the country back on August 25. He ordered that the Saudi Fund for Development study…

Asharq Al-Awsat

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More relief for student borrowers could come under new rules

The Biden administration's plan to wipe out billions of dollars in student-loan debt is in legal limbo, blocked at least temporarily by lawsuits. But a related proposal to lower monthly payments for millions of borrowers is taking a major step forward this week.

Los Angeles Times

Goldman Sachs is laying off as many as 3,200 employees this week

The prestigious investment bank is undertaking one of its biggest rounds of layoffs since the Global Financial Crisis.

WEKU

Kentucky threatens to divest from 11 banks over ESG policies

On January 2, Kentucky State Treasurer Allison Ball (R) issued a statement notifying 11 banks that their ESG policies amounted to energy boycotts that harmed the state’s economy according to definitions passed into law last spring. The statement says the banks have 90 days to stop what Kentucky argues are…

Ballotpedia

World Bank walking tightrope as it mulls increased lending to poorest

Campaigners say bank should rush to rescue countries facing recession – but can it do so without resulting in mass debt write-offs?

The Guardian - UK

German finance minister’s ties with bank under preliminary inquiry

Christian Lindner allegedly failed to disclose his mortgage from BBBank, whose general meeting he addressed

The Guardian - UK

World Bank forecasts India's FY23 GDP at 6.9%; warns of global recession

NEW DELHI: The World Bank on Tuesday retained India's economic growth at 6.9% for financial year 2022-23.

The Times of India

SAT asks Sebi to provide certain documents to Chanda Kochhar in Videocon-ICICI Bank loan case

NEW DELHI: The Securities Appellate Tribunal (SAT) has asked capital markets regulator Sebi to provide certain documents pertaining to loans sanctioned by ICICI Bank to entities including Videocon Group to the private lender's former chief Chanda Kochhar.

The Times of India

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Al Jazeera

Nigeria’s GT Bank fined in UK over money-laundering failures

Financial watchdog says GT Bank, a repeat offender, has not disputed the findings and agreed to settle.

The Times of India

Security guard killed, cash van robbed in north Delhi

NEW DELHI: In north Delhi's Wazirabad area, a security guard was killed after allegedly being shot by an unidentified man during a robbery attempt, police said on Tuesday.

Reuters

IMF says corruption has inflated costs of high-profile projects in Zambia

The International Monetary Fund said on Tuesday that corruption had inflated the cost of numerous high-profile tenders and construction projects in Zambia.

Evening Standard

Warning to Lloyds, BoS and Halifax customers over changes to service

Customers could reportedly be divided into tiers by Lloyds Banking Group based on how profitable they are, which could affect the level of service they receive

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news in one place.

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Glasgow Live

Glasgow plan to demolish abandoned Trongate bank for hotel back on agenda

An application said a "change is required to make the commercial units more attractive to potential operators"

Reuters

Pakistan reaffirms commitment to IMF programme after meeting

Pakistan reiterated its commitment to completing a programme with the International Monetary Fund in a meeting on the sidelines of a climate conference in Geneva on Monday, the finance ministry said in a statement.

Evening Standard

List of bank branch closures in 2023, including Virgin Money, NatWest, Lloyds, HSBC and Barclays

High-street banks are becoming obsolete as more people shift to online. Which branches have closed or are due to close in your area?

Daily Mirror

Warning issued to 10 million Lloyds and Halifax customers over change to services

Huge changes at Lloyds Banking Group would reportedly see customers split into a tier system based on how much profit they generate - this would then reflect into the service they receive

StockNews.com

2 Stocks to Help Your Portfolio Counter a Recession

With the Fed’s indication of keeping higher interest rates this year in line with its commitment to bring down inflation to the 2% target, the odds of the economy tipping into a recession are escalating. Amid an uncertain macroeconomic backdrop, fundamentally strong dividend-paying stocks UnitedHealth (UNH) and PepsiCo (PEP) could…

Tribune News Service

'Green banks,' poised for billions in climate funds, draw states' attention

In recent years, several states have created or helped to fund specialized banks that lend money to homeowners and businesses for energy-saving and climate projects. Now, states have billions more reasons to establish such institutions, known as green banks.

Caixin Global

U.S.’ Principal Financial Invests in Chinese Pension Manager

Principal Financial is now the second-largest shareholder of China Construction Bank Pension Management with a 17.6% stake

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