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The Latest Breaking News on Financial Services

Consumer advocates welcome government's plan to overhaul payday lending sector

The Senate economics committee will today hear from financial counsellors, consumer advocates and the complaints authority on the proposed changes and problems within the sector.

ABC News

Markets leap on reports of Liz Truss’s tax cuts U-turn. No time to dally

As PM ponders which measures to junk from mini-budget, pound rises by two cents against dollar

The Guardian - UK

NatWest to close another 43 branches across UK

Move follows axing of 32 in February as ‘most of our customers are shifting to mobile and online banking’

The Guardian - UK

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‘Desperate’ Liz Truss set to U-turn on corporation tax this weekend

‘Don’t prolong the pain’: IMF suggests government should accept swift climbdown

The Independent UK

Bank of England warns mortgage defaults to rise in months ahead

Survey of lenders paints gloomy picture of new deals drying up and end to ‘golden era’ of cheap mortgages

The Guardian - UK

NatWest closures: The 43 bank branches set to shut across the UK as Ayr among the casualties

The firm is making wide-ranging cuts to its estate heading into the new year.

Daily Record

NatWest announces closure of 43 banks across UK - full list of locations

Check the full list of branch closures across the country

Manchester Evening News

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Glasgow NatWest bank branch to shut as part of nationwide closures

NatWest has announced that it will be shutting 43 of its branches across the UK, including ones in Glasgow, Edinburgh, and Aberdeen, as part of its transition to online banking

Glasgow Live

World Bank preparing to disburse another $530 million to Ukraine-Malpass

World Bank President David Malpass said on Thursday that the lender is preparing to disburse another $530 million to Ukraine by the end of October, financing enabled by guarantees from Britain and Denmark that brings total World Bank disbursements to the war-torn country to about $11 billion this year.

Reuters

Full list: NatWest reveals plans to close 43 bank branches

Six jobs are expected to be put at risk as part of the closures

Birmingham Post

NatWest set to shut 43 bank branches across UK

Branches in Edinburgh, Glasgow and Aberdeen are among those closing

Insider UK

NatWest to close 43 bank branches in UK - full list

Only six jobs will be put at risk by the move

Wales Online

NatWest to shut 43 bank branches across UK

The UK’s second biggest lender said the vast majority of its retail banking services can now be done digitally.

The Independent UK

NatWest bank to close 43 branches as it moves away from high street shops

NatWest will shut 43 high street banks for good next year, as it blamed more people using its online services for the mass closures. See which branches will close below

Daily Mirror

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Bangkok Post

Hong Kong tries to stop brain drain

HONG KONG: Hong Kong is considering easing property taxes and visa restrictions as authorities seek to curb a pandemic brain drain that has threatened the city’s status as an international financial hub.

Daily Record

'Bollocks' Tory toff Jacob Rees-Mogg savaged after trying to shift mini-budget blame

The Business Secretary claimed economic turmoil was the fault of the Bank of England failing to raise interest rates in line with the United States.

Dublin Live

Permanent TSB warning to customers after increase of 'smishing' and 'vishing' scams

The sophisticated scams manage to gain access to accounts and personal information

The Guardian - AU

Australian banks hit with payment transfer outage as RBA blames technical error

Reserve bank says system is back up and running on Thursday, and they are working to clear the backlog

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Birmingham Post

Solid decline in East Midlands business activity according to latest NatWest survey

Worrying economic survey came ahead of the full impact of Kwasi Kwarteng's much criticised mini budget

ABC News

Health insurer Medibank Private hit by cyber attack

The health insurer says it detected "unusual activity" on its network on Wednesday, and clients will face disruptions.

Reuters

When Chinese protesters came up against Xi's security machine

Jack Yao, a Chinese Communist Party member, never wanted to be an activist.

ABC News

Osko fast payment crash blamed on Reserve Bank technical problem

A major outage of online fast inter-bank transfer system Osko leaves payments in limbo, with the Reserve Bank admitting fault.

AAP

RBA fesses up to nationwide bank outages

The central bank has blamed a technical error on the industry-wide bank transfer outage that left customers furious.

Chronicle Live

What the Bank of England’s emergency scheme ending means for pensions

The Bank of England confirmed that its bond-buying measures will end on Friday, sparking concern over the stability of pension funds

The Guardian - UK

Cliff edge looms for UK’s financial system

BoE’s move to end bond buying is a big gamble given the magnitude of the bind Britain is in

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