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The Latest Breaking News on Financial Services

Tory MP made bankrupt due to £1.7m debt amid doubt over seat

Windsor MP hit with bankruptcy order – but insists he won’t stand down until next general election

The Independent UK

Bank of England to stress test hedge funds and private equity lending

Central bank to examine shadow banking sector amid fears it could put UK financial stability at risk

The Guardian - UK

Mortgage payments to surge by £3,000 a year, says Bank of England

Four million mortgage borrowers set to see monthly payments jump in 2023

The Independent UK

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About 4m mortgage borrowers to see repayments jump next year, Bank warns

People with a fixed-rate home loan due to expire at the end of 2023 are facing average monthly repayment increases of about £250.

The Independent UK

Europe’s biggest life sciences lab building may be coming to Canary Wharf

Plans for a “vertical campus” at North Quay would bring research scientists into London’s second financial centre

Evening Standard

Saudi Arabia to Expedite Opening of Accounts for Foreign Companies

The Saudi Central Bank (SAMA) has called on local banks to facilitate and speed up the procedures for opening accounts for foreign companies, in order to encourage them to transfer their regional headquarters to the Kingdom. The step is aimed at strengthening the country’s economy, providing employment opportunities, and boosting…

Asharq Al-Awsat

Iraq Receives $8 Mn from UN Compensation Commission After Full Payment to Kuwait

The Central Bank of Iraq (CBI) received the remaining sum from the UN Compensation Fund after paying all compensations to Kuwait relating to the invasion of Kuwait during the rule of late President Saddam Hussein in 1990. In a statement, CBI said it received $7.9 million, the remaining money in…

Asharq Al-Awsat

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Supply chain issues see goods worth billions sitting in warehouses

Scottish manufacturers hit by delays to key parts, ingredients and materials

Insider UK

Hong Kong drops curbs on incoming travellers, scraps Covid app

HONG KONG: Arrivals in Hong Kong from Wednesday will no longer receive an 'amber' code barring them from some venues, Chief Executive John Lee said, while dropping use of a government-mandated Covid-19 mobile application.

Bangkok Post

Hong Kong drops curbs on incoming travellers, scraps COVID app

Arrivals in Hong Kong from Wednesday will no longer receive an 'amber' code barring them from some venues, Chief Executive John Lee said, while dropping use of a government-mandated COVID-19 mobile application.

Reuters

Local banks eager to step up regional expansion

Local banks have continued to gear up for regional business expansion, aiming to create higher income from the growth potential of the Asean economy in the post-pandemic period.

Bangkok Post

IMF shareholders deeply divided on whether to suspend surcharges on some loans

The International Monetary Fund's executive board on Monday discussed the surcharges it collects from mostly middle- and lower-income countries on larger loans that are not repaid quickly, but failed to agree to launch a formal review.

Reuters

News briefs

Biden’s student-loan relief plan gets expanded review from Supreme Court

Tribune News Service

US announces sanctions against son of Zimbabwean president

The US Treasury Department has accused Emmerson Mnangagwa Jr of ties to sanctioned businessman Kudakwashe Tagwirei.

Al Jazeera

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Tribune News Service

Biden’s student-loan relief plan gets expanded review from Supreme Court

The U.S. Supreme Court expanded a planned showdown over President Joe Biden’s student-loan relief plan, saying it will hear arguments from two borrowers who contend they are being unfairly excluded from the full scope of the program.

Fortune

Jamie Dimon warns of 'extraordinary' dangers of Ukraine War and global energy crisis

JPMorgan’s CEO warned of a prolonged energy crisis, while calling for a “Marshall Plan for energy” to combat oil and gas underinvestment.

The Times of India

November inflation print provides impetus to end rate hike cycle: SBI economists

MUMBAI: The November inflation print of 5.88 per cent provides impetus to end the rate hike cycle, economists at the country's largest lender SBI said on Monday.

Glasgow Live

Glasgow TSB branch 'robbed' as police close bank to investigate

The bank remains closed this afternoon as police investigate the robbery. The TSB bank, on Kilmarnock Road has temporarily closed its doors to customers following the incident.

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news in one place.

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Irish Mirror

Interest rate hikes by European Central Bank were 'positive for Irish banks'

Department of Finance documents show officials said investor appetite for AIB had increased 'notwithstanding lingering concerns' of a recession coming in Europe

Manchester Evening News

Grade-Two listed former bank that has lain empty for years to be turned into co-working offices

The former NatWest bank was built in 1905 in ‘flamboyant baroque style’

Chronicle Live

Four con artists jailed after they scammed North East pensioners out of £200,000

Six victims from across the region were identified as fraudsters targeted them purporting to be police officers

Tribune News Service

Student loan forgiveness “highly unlikely” as Supreme Court reviews case, says expert

December 1st 2022, the federal Supreme Court rejected President Biden’s immediate request to revive his student debt relief plan. The court will review oral arguments in February 2023 and then determine whether the leading lawsuit against the program has merit.

Dynamite News

Rs 200 Cr Money Laundering Case: Delhi court adjourns Actor Jacqueline Fernandez’s Hearing Till 20 December

A Delhi Court on Monday deferred the arguments on charge in Rs 200 crores money laundering case related to Sukesh Chandrasekar and Bollywood actress Jacqueline Fernandes. Read on for details:

Manchester Evening News

Bank of England expected to further increase interest rates

Interest rates could shoot to 3.5 per cent from next week following a meeting of the Monetary Policy Committee

The Guardian - UK

Metro Bank fined £10m for misleading investors

FCA also penalises two of challenger bank’s former top executives

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