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The Latest Breaking News on Financial Services

Lebanese banks to close ‘indefinitely’ as hold-ups continue

Lebanon’s banks have been in crisis for months as depositors demand access to their savings.

Al Jazeera

Lebanese Banks Unanimously Close Doors Indefinitely

Lebanese banks have unanimously decided to close their doors to clients indefinitely after a series of holdups by depositors seeking funds frozen in the banking system because of the country's financial meltdown, two bankers told Reuters. Banks will continue urgent operations for clients and back-office services for businesses, the bankers…

Asharq Al-Awsat

UK mortgage rates are soaring – what can you do?

Property market turmoil is unsettling both first-time buyers and those remortgaging, We set out their options

The Guardian - UK

From analysis to the latest developments in health,
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Reserve Bank acknowledges its rapid rate hikes could force some people to sell their homes

Australia's Reserve Bank says its rapid interest rate rises could see some mortgage owners fall into arrears, and some even having to sell their homes.

ABC News

One-quarter of homeowners could be spending 30% of their income on loans by late-2023, RBA says

Reserve Bank warns households with high debt relative to income are ‘particularly vulnerable to shocks’

The Guardian - AU

Risk Optus breach can weaken banks: RBA

The Reserve Bank of Australia is warning that large-scale data breaches and cyberattacks could destabilise financial institutions.

AAP

ANZ Bank to close Dickson branch

The permanent closure is due to a more than 50 per cent decrease in in-branch transactions.

The Canberra Times

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Trump says banks have ‘gone woke’ and should be ‘penalised very severely’

The former president said during a speech this week that US banks have “done much less for the Hispanic community than they should”

The Independent UK

Alarm bells of a 'climate sub-prime' facing finance, as insurance on home loans gets tricky

The insurance industry admits that some parts of the country will become increasingly difficult to insure as extreme weather takes hold. What does this mean for bank loans that are underwritten by them and prospective homebuyers taking them out?

ABC News

The latest in the Washington Federal saga, rising natural gas prices and more in your Chicago news roundup

Today’s update is a 5-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

UK pension schemes were at risk of collapse in 'unprecedented' impact of budget

The Bank of England has written to the Government explaining why it intervened after market instability

Wales Online

HC denies bail to two in conspiracy hatched by LTTE to siphon off ₹40 crore lying in a dead woman’s bank account

The NIA said an operative in Europe had planned to use the money for terror-funding through a fake power of attorney

The Hindu

Meltdown averted – but risk of repeat is obvious question Bank needs to answer

BoE has spelt out what was at stake when events last week turned extreme, though surely not unimaginable

The Guardian - UK

Yes Bank gets RBI nod for appointment of Prashant Kumar as MD and CEO

NEW DELHI: The Reserve Bank of India has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank for three years with effect from October 6, 2022.

The Times of India

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Reuters

U.S. sanctions target Myanmar junta-linked businessman for procuring Russian-made weapons

The United States on Thursday imposed sanctions on a Myanmar businessman and two others involved in procuring Russian-made weapons from Belarus for the junta that seized power in the Southeast Asian country early last year, Secretary of State Antony Blinken said.

Reuters

Woman who held up Lebanese bank for own savings released on bail

A Lebanese woman who last month held up a Beirut bank to retrieve her own savings was released on bail on Thursday after she handed herself in to authorities following weeks on the run, her lawyer said.

The Hindu

FEMA violation: Karnataka High Court says it cannot interfere with proceedings unless Xiaomi furnishes bank guarantee for ₹5,551 crore

Company has questioned competent authority’s order of confirming Enforcement Directorate’s order of seizure

Chicago Sun-Times

Key figure accused of embezzling from failed Bridgeport bank lost $1 million at casinos, sources say

Authorities are trying to determine whether the money Marek Matczuk lost gambling came from the millions he never repaid Washington Federal Bank for Savings.

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news in one place.

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Birmingham Post

Digital bank Tandem creating 100 new jobs in Cardiff

The city is now home to some of the UK's leading challenger banks

Edinburgh Live

Owner of former East Lothian bank building loses third bid to turn it into a house

The bank building was bought in 2018 for more than double the £225,000 asking price but attempts to resell it with a £595,000 price tag were described by planners as 'excessive'

Reuters

Ukraine's president nominates new central bank chief

Ukrainian President Volodymyr Zelenskiy asked parliament on Thursday to approve banker Andriy Pyshnyi, who has helped advise the government on implementing sanctions against Russia, as the new central bank chief.

Daily Record

£20k paid into Blantyre mum's bank account in bid to 'clean up' dirty money

Lynne MacDonald said she was threatened with violence if she did not co-operate.

The Guardian - UK

Credit Suisse puts Zurich hotel up for sale in urgent liquidity dash

Ailing Swiss bank’s share price has collapsed after being hit by series of crises

The Times of India

World Bank downgrades India's economic growth forecast to 6.5% for FY23

WASHINGTON: The World Bank on Thursday projected a growth rate of 6.5 per cent for the Indian economy for the fiscal year 2022-23, a drop of one per cent from its previous June 2022 projections, citing deteriorating international environment.

The Guardian - UK

Bank confirms pension funds almost collapsed amid market meltdown

Official explains how promise to buy up to £65bn of government debt staved off destructive UK financial spiral

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