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The Latest Breaking News on Financial Services

Commonwealth Bank accused of not paying long service leave to 20 former employees

A spokesperson for Commonwealth Bank says the underpayment of staff was "unacceptable" and the employees concerned have now been paid.

ABC News

UK bank says it will give people £175 cash for free

Here's how you can get your hands on the money

Liverpool Echo

Leading university and business school paid more than £700k via Russian bank days after Ukraine invasion

Exclusive: Imperial College London and London Business School condemned for accepting nearly £15m in less than a decade

The Independent UK

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read the most diverse news in one place.

Starling and Monzo beat big banks in customer satisfaction survey

298-year-old Royal Bank of Scotland came bottom of the list

Evening Standard

Challenger banks jump ahead of industry giants for customer satisfaction

Starling Bank and Monzo were the top-ranked current account providers, while Royal Bank of Scotland and The Co-operative Bank were bottom-ranked.

The Independent UK

Govt to regulate booming auto leasing sector

The government plans to regulate the fast-growing business of hire purchase and leasing of cars and motorcycles to maintain financial stability and protect consumers, the central bank said on Monday.

Bangkok Post

Gardai warn over latest AIB scam that could see victims lose thousands

The scam could also reference any financial institution so people should be aware of this

Irish Mirror

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Barclays pulls financial safety net as cost of living crisis bites

Current account holders are being told their arranged overdraft facility will be withdrawn

The Guardian - UK

Alan Kohler: The hubris of central bankers and the limits of money

Once again central banks, including Philip Lowe’s Reserve Bank, have kept extreme monetary policies in place for too long

The New Daily

Gardai warn of devious new text scam impersonating banks

The scammers are impersonating banks and claiming that there is an issue with a transaction

Dublin Live

Egypt Central Bank Denies Resignation of its Governor

The Central Bank of Egypt denied on Saturday reports of the resignation of its governor, Tarek Amer, following rumors that he would be part of a government reshuffle. Gamal Negm, the first deputy governor of the Central Bank, dismissed the reports about the resignation, stressing that Amer’s term ends in…

Asharq Al-Awsat

Bank of England under fire over £23m bonus payouts

Anger as thousands of Bank staff enjoy ‘performance awards’ when governor had urged other British workers not to demand big rises

The Guardian - UK

Banks to face consequence for unacceptable practices of loan recovery agents

RBI clamps down on ‘intimidation’

The Hindu

Gunman who held up Lebanon bank to withdraw own money arrested as siege ends

The armed man’s wife supported her husband’s actions, claiming he ‘did what he had to do’

The Independent UK

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Daily Mirror

Furious man armed with shotgun threatens hostages at bank - demanding his own money

The gunman entered the Federal Bank of Lebanon in Beirut and drew his firearm when he was told he couldn't access the $200,000 (£160,000) in his bank account

Evening Standard

Businesses failing to consider cost of living payments

ONS figures confirm SMEs have harder time freeing up one-off cash to back up employees

Manchester Evening News

Flats plan for former bank building where windows will need to remain closed in hot weather due to traffic noise

The RBS branch in Radcliffe closed in 2018

The Guardian - UK

Tories face questions over £500,000 of donations linked to bribery-accused banker

Labour asks whether Conservatives will give back funds, and calls for Tory co-chair’s sacking

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news in one place.

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The Guardian - UK

Ping An insists splitting HSBC would increase bank’s value

The Chinese shareholder has accused HSBC executives of exaggerating the downfalls of separating off the Asian business

The Independent UK

Armed man demanding savings holds Beirut bank staff hostage

A Lebanese security official says a man armed with a shotgun has broken into a Beirut bank, holding employees hostage and threatening to set himself ablaze with gasoline unless he receives his trapped savings

Reuters

Explainer-Britain and regulators square up over post-Brexit financial reform

Britain's government proposed a far-reaching financial services law last month to exploit "freedoms" to write its own capital market rules since leaving the European Union.

Al Jazeera

Hostage standoff at Beirut bank ends with gunman’s surrender

Banks in Lebanon have implemented informal capital controls amid ongoing economic crisis, effectively freezing savings.

Asharq Al-Awsat

Algerian Judiciary Jails Two Ex-Ministers on Corruption Charges

A court in Algiers sentenced on Wednesday two former ministers to jail on corruption charges. Sidi M'hamed Court of Algiers sentenced former Minister of Finance Mohamed Loukal to six years in prison and a fine in Algerian dinar and ordered lifting seizure on all his seized assets upon the examining…

ABC News

Perth woman Moe Moe Myint Kelly jailed over 'ruthless' theft of $2 million from employer

A 65-year-old Perth woman is sentenced for a stealing $2 million from her employer over a period of seven years - offending the prosecutor described as a "massive breach of trust".

The Independent UK

Primark to reopen flagship store four years after it was destroyed by fire

The retail giant is targeting the first week of November to reopen its Bank Buildings branch in Belfast.

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