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The Latest Breaking News on Financial Services

Former Russian minister ‘shocked’ to learn he was subject to sanctions in UK

Dmitrii Ovsiannikov, 48, the former mayor of Sevastopol in illegally annexed Crimea, is facing seven counts of circumventing sanctions.

The Independent UK

Globalisation may have run its course in current form, says HSBC chair

Trade tensions in era of Trump tariffs create serious potential risk to global growth, warns Sir Mark Tucker

The Guardian - UK

PwC fined £2.9m over audit of Sanjeev Gupta’s Wyelands Bank

FRC severely reprimands accountancy group and one of its former main auditors after ‘serious failings’ in 2019

The Guardian - UK

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School ‘very sad’ to remove former Russian minister’s children due to sanctions

Dmitrii Ovsiannikov, 48, the former mayor of Sevastopol in illegally annexed Crimea, is facing seven counts of circumventing sanctions.

Evening Standard

Power switching: banks compete for current account customers with cash payouts

If you’re thinking of changing bank, several are keen for your business: but time is running out to take advantage of some deals

The Guardian - UK

The locations set to get new banking hubs as Santander closes 95 branches

Here’s where customers will be able to do their banking

The Independent UK

Santander to close 95 UK branches, putting 750 jobs at risk

Bank says 18 other outlets will become ‘counter-free’ and further 36 will operate reduced hours

The Guardian - UK

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Hundreds of jobs at risk as Santander to close 95 UK branches – see the full list

AROUND 750 jobs are at risk of redundancy at Santander UK as the high street lender announced 95 branch closures and sweeping changes across its…

The National (Scotland)

Santander to shut almost 100 branches in huge high street cull putting 750 jobs at risk

The bank said the decision was made after it has has seen “a rapid movement of customers choosing to do their banking digitally”

Evening Standard

Close Brothers falls to £103m loss after big car loan scandal provision

The interim dividend has been axed after the first half fall into the red

Evening Standard

Bombshells and revelations: how the Jes Staley evidence unfolded

Ex-Barclays CEO’s admission that he had sex with Jeffrey Epstein employee is among details to emerge in court

The Guardian - UK

UniCredit Gets ECB Nod For Commerzbank Stake

Italian banking giant UniCredit said Friday it had secured approval from the European Central Bank to buy up to 29.9 percent of Commerzbank, opening the door to a possible takeover of its German rival.

International Business Times

Pacific to bank on ANZ thanks to Australian guarantee

The federal government will provide a $2 billion guarantee to ANZ bank in the Pacific for it to continue services as Australia works to lock out China.

AAP

Jes Staley admits having sex with Jeffrey Epstein staff member at paedophile's brother's New York apartment

Ex-Barclays boss said he was introduced to the woman by Jeffrey Epstein, the encounter was consensual and that ‘she was a part of his staff as I recall’

Evening Standard

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The Independent UK

Bank of England drops diversity rules for City firms as US rolls back DEI

The Bank’s enforcement arm, the Prudential Regulatory Authority, revealed the decision on Tuesday in the wake of major US firms scrapping diversity goals

The Guardian - UK

Top City watchdogs drop new diversity and inclusion rules for firms

FCA and Bank of England’s PRA join retreat from efforts to help underrepresented groups, citing ‘regulatory burdens’

The Independent UK

Areas with fastest and slowest falls in ATM withdrawals since pandemic revealed

In general, locations which are more deprived are moving away from cash more slowly, ATM network Link said.

The Guardian - UK

Peers working for City firms dominate Lords panel scrutinising financial sector

Committee criticised regulator’s proposals to name and shame companies under investigation

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The Independent UK

JPMorgan CEO Jamie Dimon accuses ‘people in the middle’ of being the only ones against his RTO policy

Hybrid model ‘doesn't work in our business,’ JPMorgan Chase CEO says

The Guardian - UK

Staley pushed JP Morgan to keep Epstein as client despite human trafficking concerns, court hears

Former Barclays boss told Jeffrey Epstein suspicious withdrawals from his account were being investigated

The Guardian - UK

What can Canada expect from its next PM? The Mark Carney I knew

In his seven years as Bank of England governor, Carney was charming and self-confident but had a volcanic temper

The Guardian - UK

Jes Staley tells court that City regulator ‘seeks to destroy’ his reputation over Epstein ties

Ex-Barclays CEO says FCA made ‘no attempt’ to understand his relationship with child sex offender Jeffrey Epstein

The Guardian - UK

Barclays chair did not ask Staley if he was in touch with Epstein before ruling it out to FCA, court hears

Nigel Higgins agrees with lawyer that some of Staley’s ‘affectionate’ emails might seem ‘odd to an Englishman’

The Independent UK

Scam warning for learner drivers after bank records jump in reported cases

Learner drivers are losing £244 on average to bogus offers of lessons and tests, according to figures from Lloyds.

International Business Times

'Got Cash?' Tunisians Grapple With New Restrictions On Cheques

Olfa Meriah stands, frustrated, before a smartphone shop near the capital Tunis.

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