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The Latest Breaking News on Financial Services

London Court Rules Oligarch Liable Over $1.9 Bn Ukraine Loan Scheme

The Ukrainian oligarch Igor Kolomoisky and his former business partner are likely to be forced to repay $1.9 billion that they "unlawfully" appropriated from a Ukrainian bank they owned, London's High Court ruled Wednesday.

International Business Times

Santander axes 2000 jobs and warns more cuts are possible

High street lender Santander UK revealed it has axed over 2,000 jobs and warned more roles may need to be cut as part of an ongoing overhaul.

The National (Scotland)

HSBC Banks Lower Profits On Higher Costs

Bank giant HSBC said Wednesday that group profits fell in the first half on higher costs but noted that it was "well positioned" to deal with the effects of US tariffs.

International Business Times

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HSBC boss says Rachel Reeves putting up bank taxes would harm UK growth

Georges Elhedery’s comments come amid speculation the chancellor could make such a move in autumn budget

The Guardian - UK

Major bank slashes thousands of jobs in company overhaul

Santander reported a 5 per cent decline in pre-tax profits, reaching £764 million for the first six months of 2025

The Independent UK

JPMorgan In Advanced Talks To Take Over Apple Card Program: Report

JPMorgan Chase Co (NYSE:JPM) is in late-stage negotiations to take over Apple Inc’s (NASDAQ:AAPL) credit card partnership from Goldman Sachs Group Inc (NYSE:GS), according to a Wall Street Journal report.

Benzinga

Barclays joins rival in cautioning against hiking bank taxes

The lender’s boss said raising taxes for banks and other important sectors was not consistent with the Government’s pro-growth aims.

The Independent UK

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Nationwide building society’s members deserve real votes

Governance needs overhaul after there was no vote on Virgin Money takeover and vote on CEO’s £7m pay was only advisory

The Guardian - UK

NatWest investors given £1.5bn weeks after full privatisation

Profits rise 4.4% at lender, which plans to distribute interim dividend of 9.5p a share on top of fresh £750m buyback

The Guardian - UK

‘Wells Fargo is complicit’: seven arrested at climate protests outside bank’s offices

Activists launch civil disobedience campaign in New York and San Francisco after company dropped climate vows

The Guardian - US

Bank hit with first strike as shareholders push back

Shareholders in Australia's largest investment bank have expressed their concerns over the firm's pay report, resulting in Macquarie's first-ever strike.

AAP

UniCredit Boosts Outlook After Walking Away From Banco BPM

Italy's UniCredit posted a sharp rise in quarterly profit on Wednesday despite lower revenues, a day after it withdrew its offer for smaller rival Banco BPM due to government interference.

International Business Times

JPMorgan Chase Shakes Up Quantum Computing Division, Recruits State Street's Rob Otter As Marco Pistoia, Charles Lim Exit

JPMorgan Chase Co. (NYSE:JPM) has revamped the leadership of its internal research group, responsible for quantum computing and other advanced technologies. The bank has appointed a former State Street Corp. (NYSE:STT) executive to lead the team.

Benzinga

British Business Bank returns to profit amid further investments

It is the first profit the bank has delivered since 2022 after the valuation of firms it invested in were impacted by challenging economic conditions.

The Independent UK

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The Guardian - AU

Monique Ryan to bring private member’s bill to lower voting age – as it happened

This blog is now closed

Benzinga

Is The Market Missing Bank Of America's Strong Earnings Growth?

Bank of America Corp. (NYSE:BAC) kicked off earnings season with a stronger-than-expected second quarter on Wednesday, reporting net income of $7.1 billion and earnings per share of 89 cents, surpassing analyst expectations.

The Guardian - UK

Anger over Santander charging for business accounts it said would be ‘free for ever’

Exclusive: Thousands of small business owners face charges of £9.99 a month from October despite previous written guarantee

Benzinga

U.S. Bancorp Nails Q2 Profits But Stock Dips On Revenue Miss

U.S. Bancorp (NYSE:USB) edged past earnings estimates in the second quarter but fell short of revenue expectations, causing its shares to decline in Thursday’s premarket trade.

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AAP

Former bank exec accused of grooming girls found dead

Days after a court appearance, a former bank executive accused of "terribly serious" offending has been found dead on the Gold Coast, police have confirmed.

Benzinga

JPMorgan's Q2 Outperformance Bolsters Confidence In Its 2025 Outlook

Shares of JPMorgan Chase Co (NYSE:JPM) came under pressure on Wednesday, even after the company on Tuesday reported upbeat second-quarter earnings.

Benzinga

JPMorgan Flexes Revenue Muscle Again As Wells Fargo Battles NII Woes

Wells Fargo Company (NYSE:WFC) shares dipped after the banking giant reported mixed second-quarter 2025 earnings. While the company surpassed analyst expectations for earnings per share and revenue, a significant downward revision in its full-year net interest income (NII) forecast, a key profitability metric, raised investor concerns.

Benzinga

Bank Of America's Q2 Results 'Better Than Feared', Says Analyst

Bank of America Corp. (NYSE:BAC) delivered second-quarter fiscal 2025 results that largely surpassed expectations, with reported earnings per share aligning with consensus estimates.

The Guardian - UK

Rachel Reeves warned by City grandees not to weaken banking safeguards

Chancellor’s plan to slash red tape could raise financial risks and do little to help households, say architects of UK’s post-2008 reforms

Benzinga

Bank of America Q2 Loans And Deposits Grow, Efficiency Ratio Increases To 64.58%

Bank of America Corp (NYSE:BAC) reported second-quarter fiscal 2025 net income of $7.1 billion (versus $6.9 billion a year ago) and EPS of $0.89, beating the analyst consensus estimate of $0.87.

The Guardian - UK

Diageo CEO Debra Crew steps down; UK inflation rises to 18-month high of 3.6% – as it happened

Crew leaves after investor disquiet over company’s lacklustre performance; UK food prices rise most since February 2024 but economists still expect August rate cut

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