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The Latest Breaking News on Financial Services

Four-day working week to be implemented by 100 UK firms

Around 2,600 workers will still be earning the same for working a day less

Wales Online

One-stop centre to spur FDI in the offing

The government is establishing a new one-stop service centre to stimulate foreign direct investment and outlays on international headquarters and regional offices.

Bangkok Post

NAB fraudster stays out of jail for now

Fraudster Helen Rosamond has been granted a short-term respite from jail after being found guilty of embezzling millions from the National Australia Bank.

AAP

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RBA Governor Philip Lowe apologises to Australians struggling with mortgages

Reserve Bank Governor Philip Lowe has apologised to Australians for giving them unclear guidance that led to hundreds of thousands taking out big mortgages in the expectation that interest rates would stay low until 2024.

ABC News

RBA governor 'sorry if people listened' to interest rate advice

"I'm certainly sorry if people listened to what we said and they acted on what we had said and now regret what they had done. So that's regrettable. I'm sorry that happened."

Newcastle Herald

RBA governor 'sorry people listened' to interest rate advice

Greens senator Nick McKim accused the governor of "inducing many Australians to take out mortgages in the belief that interest rates wouldn't rise until 2024".

The Canberra Times

Australian retail sales suffer first fall of 2022 as inflation bites, ASX lower

Australian retail sales suffered their first fall of 2022 in October as rising prices and higher interest rates finally seemed to have an impact on spending, a surprisingly soft result that suggests tighter policy is working as intended.

ABC News

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Women on paid parental leave say banks routinely discriminate against them during loan applications

Women are struggling to get credit cards and loans on paid parental leave and they're blaming "archaic and outdated" banking policies as the reason why.

ABC News

Grant Shapps warns energy firms not to hike bills of customers cutting use

Business secretary ‘disturbed’ by reports Britons being overcharged

The Independent UK

Iran Bank Manager Fired for Serving Unveiled Woman

An Iranian bank manager who served an unveiled woman has been fired, local media reported on Sunday. Since 1979 , Iranian law requires all women to wear a hijab that covers the head and neck. Mehr news agency reported that the bank manager in Qom province, near the capital Tehran,…

Asharq Al-Awsat

$16b Total Assets of Oman’s Islamic Banking Sector

The total assets of Oman’s Islamic banking sector, including Islamic banks and windows operating in the sultanate, jumped by 9.1 percent year-on-year to reach at RO6.4 billion ($16.6 billion) by late September 2022. Oman’s Islamic banking assets now account for 16.2 percent of the country’s total banking system assets, according…

Asharq Al-Awsat

Investors seen heading north, leaving SE Asia behind

The nascent revival in North Asian equities is being touted as the start of a potential bull run as bets for China’s gradual reopening as well as the bottoming out of the chip industry intensify.

Bangkok Post

Thailand 'base' for SMBC's growth

Japan's Sumitomo Mitsui Banking Corporation (SMBC) will adopt Thailand as its base for expansion in Southeast Asia in celebration of its 70th year of operations in the kingdom, it says.

Bangkok Post

Conflict of interest: have low cash rates created the ‘everything bubble’?

In new book The Price of Time, economist Edward Chancellor explores the role central banks have played in the snowballing challenges of the past quarter century

The Guardian - AU

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The Guardian - AU

The money trap: Australian women drag banks to the fight against relentless financial abuse

One woman received 900 threatening messages in the space of a few days, attached to deposits of as little as one cent

Newsroom.co.nz

An Ode for .. Adrian Orr

Bard Billot on the nation's banker

Glasgow Live

Glasgow charity providing school uniforms to struggling families closes due to lack of funds

Glasgow's Pre Loved Uniforms established itself as one of the best places to go for families in need when it comes to school clothing but after five years it has announced it will close its doors.

Daily Mirror

Lorry driver's left furious after Costa Coffee worker refuses Scottish banknote

Jonathan Owens accused the branch in Maidstone, Kent of 'ostracising an entire country' by refusing the banknote and described the attitude of staff at the outlet as 'racist'

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Dynamite News

SBI Reports Highest Profit, Broking Houses Lauding Us: Chairman

Chairman of the country's biggest lender State Bank of India (SBI) Dinesh Khara on Saturday asserted that analysts and broking houses are praising the financial performance of the bank which reported its highest profits recently. Read on for details:

The Guardian - US

US student debt relief: borrowers in limbo as lawsuits halt cancellation program

Biden administration’s centerpiece student loan relief measure paused after Trump-appointed judge rules plan is unconstitutional

Daily Mirror

Martin Lewis fans explain how they made easy £375 for free from their banks - you can too

High street lenders regularly offer “switch bribes” to encourage you to ditch your current bank and move over to them instead - and if you take advantage, you could end up being hundreds of pounds up

The Times of India

RBI pauses onboarding of online merchants by Paytm payments services

NEW DELHI: Banking regulator RBI has put a pause on onboarding of online merchants by Paytm Payments Services, even as the company said it will have no material impact on its business, according to a regulatory filing.

ABC News

Indian owners of failed West Australian coal in $1 billion quest to salvage calamitous bet

The giant Indian bank behind a failed coal mine at the centre of WA's growing energy crisis is seeking almost $1 billion to walk away from its disastrous position.

Bangkok Post

Of debt and bondage with Beijing

Recently released details of Kenya's 2014 loan agreement with China to finance a controversial railway project have once again highlighted the predatory nature of Chinese lending in developing countries. The contract not only imposed virtually all risk on the borrower (including requiring binding arbitration in China to settle any dispute),…

The Independent UK

‘Steady’ Black Friday for retailers despite cost of living crisis and rising prices

High Streets get a welcome boost on global shopping day – but there are protests in Dublin and Belgium

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