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The Latest Breaking News on Financial Services

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

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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

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.

Al Jazeera

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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.

The Times of India

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.

Reuters

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

Evening Standard

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"

Glasgow Live

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.

Reuters

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?

Evening Standard

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

Daily Mirror

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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

Insider UK

'War for talent' set to define Scotland’s financial sector in 2023

Recruitment company argues that the balance of power sits with employees, despite the recession

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news in one place.

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Birmingham Post

Starling Bank to see profits quadruple this year as bank now a 'big player'

Founder Anne Boden said Starling is longer up against the "plucky scale-ups"

Dynamite News

ICICI-Videocon Loan Scam: Bombay HC Allows Chanda Kochhar, Husband Deepak's Release

The Bombay High Court on Monday allowed the release of former ICICI Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar accused in an alleged multi-crore money laundering scam. Read on for details:

Al Jazeera

Pakistan’s finance minister to meet IMF delegation in Geneva

IMF has yet to approve the release of $1.1bn originally due to be disbursed in November last year.

The National (Scotland)

‘Serious questions’ as pension funds invest millions in firms operating in Russia

SCOTLAND’S largest council pension funds have around £230 million invested in Western companies continuing to operate in Russia almost a year…

The National (Scotland)

Scot slams banks after 'obstructive' treatment of wife nearly broke relationship

A SCOT who has eventually managed to wed his Thai partner thanks to this newspaper has called for banks to improve the way they treat potential…

Wales Online

Woman 'rips' Asda cash machine apart after it 'swallows card and money'

She used her hands to take apart the Barclays machine

WEKU

A Black 'Wall Street Journal' reporter was detained while working outside a bank

The Phoenix Police Department says that it has launched an internal investigation following the arrest of Journal finance reporter Dion Rabouin, who was conducting interviews outside a Chase Bank.

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