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The Latest Breaking News on Financial Services

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'

Edinburgh Live · Oct 6, 2022

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.

Reuters · Oct 6, 2022

£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.

Daily Record · Oct 6, 2022

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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 Guardian - UK · Oct 6, 2022

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 Times of India · Oct 6, 2022

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

The Guardian - UK · Oct 6, 2022

Marks & Spencer launches digital credit account for Sparks customers

Sparks Pay is initially rolling out as a phased launch on M&S.com and the M&S app.

The Independent UK · Oct 6, 2022

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How do interest rates affect inflation?

Borrowing costs at their highest level in 14 years

The Independent UK · Oct 6, 2022

All the banks that will pay up to £200 free money into your account - from NatWest to TSB

First Direct, TSB and Nationwide and all have “switch bribes” on offer right now. We explain all the eligibility criteria for each bank and how to get the cash

Daily Mirror · Oct 6, 2022

BoE intervention ‘stopped Sterling spiral’ as Fitch cuts credit rating

UK central bank says failure to act could have wiped out the value of a large number of funds held by pension companies

The Independent UK · Oct 6, 2022

Bank of England intervention prevented destructive ‘spiral’ after mini-Budget

Threat to pension funds could have triggered ‘widespread financial instability’

The Independent UK · Oct 6, 2022

Judge Fines Lebanese Bank Heist Figure, Issues Travel Ban

A Lebanese judge on Thursday fined and issued a six-month travel ban to a woman who stormed her bank with a fake pistol and took her trapped savings to cover her sister's cancer treatment. Lebanon’s cash-strapped banks have imposed strict limits on withdrawals of foreign currency since 2019, tying up…

Asharq Al-Awsat · Oct 6, 2022

Kwarteng considers extending mortgage guarantee scheme

Initiative may continue beyond December as bank bosses raise concerns over mortgage market

The Guardian - UK · Oct 6, 2022

Martin Lewis shares how to get free £200 from UK bank

New and existing customers can get their hands on the money

Liverpool Echo · Oct 6, 2022

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Daily Record · Oct 6, 2022

Castle Douglas hosting awareness day to stop people being taken in by fraudsters

The general public will be able to get advice from the police, Citizens Advice, trading standards and victim support

The Guardian - AU · Oct 6, 2022

Teen charged with attempting to blackmail Optus customers using stolen data

The 19-year-old Sydney man allegedly sent SMS messages demanding $2,000 to 93 customers whose data had been released online after Optus breach

Bangkok Post · Oct 6, 2022

Kasikornbank looks to triple overseas staff

One of Thailand’s largest lenders is on an overseas hiring blitz for jobs in technology and digital banking, as it boosts a regional expansion strategy to counter slowing domestic growth.

The Guardian - AU · Oct 6, 2022

Labor attacked by former RBA governor Bernie Fraser for sticking to ‘dodgy’ stage-three tax cuts

Fraser says Albanese government should repeal stage three as the tax cuts are ‘even more unfair’ due to falling real wages

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Bangkok Post · Oct 6, 2022

SCB 10X touts digital tokens

SCB 10X, a subsidiary of Thailand's oldest lender Siam Commercial Bank (SCB), is ready to make inroads in the digital token business, saying digital assets are attractive for investment and hold high potential to grow in the long term.

The Guardian - UK · Oct 5, 2022

World Bank ‘has given nearly $15bn to fossil fuel projects since Paris deal’

A group of 50 NGOs found that bank and subsidiaries had funded oil refinery and gas processing

Bangkok Post · Oct 5, 2022

Cabinet reiterates BoT has free rein for its duties

The government has pledged it will not intervene in the central bank's handling of inflation, interest rates and the baht's movement, instead asking the Finance Ministry to provide additional information to the bank.

Bangkok Post · Oct 5, 2022

SCB X rejig targets regional fintech status

SCB X, the holding company of Siam Commercial Bank (SCB) Group, has set a five-year business direction ending in 2026 to pave the way for it to become a regional financial technology company and generate income from new sources.

The Guardian - AU · Oct 5, 2022

Yes, the heat is coming off the housing market. But it wasn’t just on fire last year - it was burning uncontrolled

We have an economy where even a slight fall in prices will do little to repair the damage of the past two years

The Guardian - UK · Oct 5, 2022

Rates for two-year fixed mortgage pass 6% mark for first time since 2008

News comes day before UK chancellor is due to discuss impact of market turmoil with high street lenders

McClatchy Washington Bureau · Oct 5, 2022

Facing federal PPP fraud investigations, online lender Kabbage files for bankruptcy

Online lender Kabbage was one of the biggest lenders in the first year of the Paycheck Protection Program, processing more than $7 billion in loans.

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