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The Latest Breaking News on Financial Services

Alleged fraudster was a success, jury told

The ex-husband of a woman accused of defrauding NAB of millions of dollars has told a jury she was a success story managing projects around the world.

AAP

Philip Hammond’s consultancy firm made almost £1m in profit

Filings cover period ex-chancellor worked for controversial clients including Saudi government

The Guardian - UK

Atom bank hails benefits of four day week six months after introduction

Atom employees said they’d used the day off to spend time with children, go on long walks with dogs or volunteer for a charity

Evening Standard

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Man ‘slashed in head’ and has cash stolen inside Barclays bank in Stamford Hill

A man withdrawing cash from a high street bank was slashed in the back of the head by a mask-wearing robber.

Evening Standard

Glasgow area's last bank closed despite concerns over cash access

A survey of residents carried out my an MP showed a clear majority wanted it to remain open

Glasgow Live

Avon and Somerset police issue courier fraud warning

Police are urging people to remain vigilant

Bristol Post

Govt mulls selling at least 51% stake in IDBI Bank

NEW DELHI: The government is considering selling at least 51% of state-backed IDBI Bank Ltd, according to people with knowledge of the matter.

The Times of India

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Egyptian Remittances Increase 1.6%

The Central Bank of Egypt (CBE) said that the Egyptian remittances increased 1.6% to about $31.9 billion during fiscal year (FY) 2021/22, compared to about $31.4bn last year. The CBE said on Tuesday that the period from April to June 2022 witnessed an increase in those transfers by 3%, to…

Asharq Al-Awsat

RBA urges business to act now on climate threats or face potential legal action

Reserve Bank Australia says households may struggle to repay debts as asset prices will probably become more volatile

The Guardian - AU

Elderly and vulnerable targeted as £1 million scammed from Scots in just six months

More than a third of those were from Forth Valley areas.

Daily Record

Green lending under BoT scrutiny

Financial institutions are expected to report their environmental loan strategies and related targets to the Bank of Thailand from next year as the country attempts to transition to a green economy.

Bangkok Post

Rishi Sunak attacks Liz Truss’s plans to curb Bank of England’s independence

Former chancellor says rival’s economic proposals could ‘spook international investors’

The Guardian - UK

Pope further tightens controls, centralisation of Vatican finances

Pope Francis on Tuesday acted to eliminate wiggle room or foot- dragging by Vatican departments in imposing tighter financial controls, setting a deadline for the closing of investment portfolios in foreign banks, including in Italy.

Reuters

Barclays' Wallsend branch is to close after more than 50 years at The Forum

Barclays at The Forum shopping centre, Wallsend, has traded since 1969, but its imminent closure comes at a time when most customers are banking online and branches are closing around the UK

Chronicle Live

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Asharq Al-Awsat

Saudi Prosecution: 11 Suspects Arrested for Stealing Money from Bank Accounts

Saudi Arabia's Public Prosecution has arrested 11 people for forming a criminal organization and impersonating bank employees with the purpose of stealing money from the bank accounts of Saudi citizens and residents. The Public Prosecution said its Financial Fraud Unit investigated the case and found the 11 suspects used a…

Bangkok Post

Bank Indonesia hikes benchmark rates for first time since 2018

JAKARTA: Indonesia's central bank raised its benchmark interest rate for the first time since 2018 on Tuesday, stepping up monetary tightening to fight rising inflation.

The Times of India

Smaller banks follow big peers, hike FD rates

MUMBAI: IDBI Bank has said it will offer a new 500-day deposit that offers 6.7% interest as part of the Amrit Mahotsav (75 years of independence) scheme. The bank has also hiked interest rates on term deposits across various tenors from August 22. The highest rate offered under its regular…

Insider UK

Hampden & Co reports record first half results

Growth in lending products drove the private bank's positive trend

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Reuters

Exclusive-U.S. commits to Afghan asset talks despite frustration with Taliban - sources

U.S. President Joe Biden's administration will press ahead with talks on releasing billions of dollars in Afghanistan's foreign-held assets despite the late al Qaeda leader's presence in Kabul and foot-dragging by the Taliban and Afghan central bank, according to three sources with knowledge of the situation.

ABC News

The banking industry overseer wants more powers, but will it get them?

Three years after it was formed, the committee enforcing breaches of the Banking Code of Practice has used its most serious sanction just twice. That power is writing the name of a bank on a report.

The Hindu

UPI costs must be met through other means: Centre

Earlier, RBI had plans to levy charges for payment systems including UPI, NEFT and IMPS

Newsroom.co.nz

The Reserve Bank and the war on inflation

Why is the Reserve Bank facing flak from every angle over its economic handling of the pandemic?

Daily Mirror

Holidaymakers from timeshare mis-selling scandal accuse Barclays of payment delays

The buyers were told ex-Manchester United stars Gary Neville and Ryan Giggs part-owned properties at Malta's Golden Sands Resort and borrowed from the bank to finance the deals

Wales Online

Former bank with locked safes that ended up as a cannabis factory is going to auction

The former drugs den is looking for a new purpose

USAFacts

What are green banks?

The Inflation Reduction Act establishes a federal green bank for the first time.

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