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The Latest Breaking News on Financial Services

Rachel Reeves warned by City grandees not to weaken banking safeguards

Chancellor’s plan to slash red tape could raise financial risks and do little to help households, say architects of UK’s post-2008 reforms

The Guardian - UK

Bank of America Q2 Loans And Deposits Grow, Efficiency Ratio Increases To 64.58%

Bank of America Corp (NYSE:BAC) reported second-quarter fiscal 2025 net income of $7.1 billion (versus $6.9 billion a year ago) and EPS of $0.89, beating the analyst consensus estimate of $0.87.

Benzinga

Diageo CEO Debra Crew steps down; UK inflation rises to 18-month high of 3.6% – as it happened

Crew leaves after investor disquiet over company’s lacklustre performance; UK food prices rise most since February 2024 but economists still expect August rate cut

The Guardian - UK

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Cafes, small businesses fear brunt of surcharge cut

The dreaded $6 line for a coffee could soon become reality for cafe owners after a proposal to scrap card surcharges could force fees to pass on to customers.

AAP

Does PNC's $4.1 Billion Purchase of FirstBank Impact You? 5 Must-Know Strategies If Your Bank Closes

Concerned about your bank closing? For retirees who prefer in-person banking, here's what you can do now.

Kiplinger

Bank Of America Q2 Earnings Preview: Can Top Warren Buffett Holding Keep Beating Analyst Estimates?

Bank of America Corporation (NYSE:BAC) looks to keep a streak of beating analyst estimates alive when the company reports second-quarter financial results before the market opens Wednesday.

Benzinga

Reeves says rules and red tape are ‘boot on the neck’ of business

At the Mansion House dinner she calls for regulators to allow more risk to clear the way for economic growth

The Guardian - UK

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US Banks See Lower Recession Risk Despite Tariff Fog

Large US banks reported results that topped estimates Tuesday as executives pointed to American economic resilience and said businesses were adapting to tariff uncertainty.

International Business Times

Big Banks Smash Earnings Expectations But Rally Fails To Produce New Fuel

The second-quarter earnings season for banks kicked off with blowout numbers from the biggest names on Wall Street, but investors weren't in the mood to celebrate.

Benzinga

Bank Of New York Mellon's Strong Q2 Profit Drives Higher 2025 Guidance

Bank of New York Mellon Corp. (NYSE:BK) on Tuesday reported better-than-expected second-quarter 2025 results, topping both revenue and earnings estimates.

Benzinga

Citigroup Q2 Revenue And Profit Jumps, CFO Says Recession Risk Has Fallen

Citigroup (NYSE:C) reported on Tuesday that the second-quarter fiscal 2025 revenue growth was 8% year-over-year and was $21.7 billion, beating the analyst consensus estimate of $20.9 billion. This growth was driven by each of the five interconnected businesses.

Benzinga

Wells Fargo's Net Interest Income Shrinks In Q2, Bank Trims Outlook

Wells Fargo Company (NYSE:WFC) reported a net interest income of $11.71 billion on Tuesday, down 2% year over year in the second quarter of 2025.

Benzinga

Reeves unveils City strategy aimed at cutting red tape and fuelling UK growth

‘Leeds Reforms’ include streamlined accountability for senior bankers and a campaign to get more consumers investing in stock market

The Guardian - UK

Reeves sets out sweeping reforms to financial sector in search for growth

The changes are ‘freeing up firms to take risks and to drive growth’, Chancellor Rachel Reeves said.

Evening Standard

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Benzinga

Standard Chartered Enters Crypto Trading — First Big Bank To Offer Deliverable BTC, ETH To Institutions

Standard Chartered PLC launched digital assets spot trading for institutional clients on Monday, marking a watershed moment as the first global systemically important bank to offer deliverable Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) trading services.

The Guardian - AU

Card payment surcharges should be banned for debit and credit payments, RBA says

Surcharges on Eftpos, Mastercard and Visa card payments would be eliminated from July 2026 under proposal from Reserve Bank

Benzinga

JPMorgan Q2 Preview: A 'Banking Renaissance' On The Horizon

Banking giant JPMorgan Chase Co (NYSE:JPM) could provide a detailed look at the health of the American economy and consumer and have a big impact on several ETFs when the company reports second-quarter financial results Tuesday before market open.

Benzinga

JPMorgan, Citi To Kick Off Bank Earnings As Wall Street Sees Profit Boom

Big bank earnings season kicks off Tuesday, July 15, with key industry heavyweight JPMorgan Chase Co. (NYSE:JPM), Citigroup Inc. (NYSE:C) and Wells Fargo Corp. (NYSE:WFC) headlining a crucial reporting day for financials, as Wall Street eyes a rebound in quarterly profits fueled by stronger net interest income and healthy capital…

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Benzinga

How To Earn $500 A Month From Bank of America Stock Ahead Of Q2 Earnings

Bank of America Corporation (NYSE:BAC) will release earnings results for the second quarter before the opening bell on Wednesday, July 16.

Benzinga

JPMorgan Stock Shows Mixed Signals Ahead Of Q2 Results Even As CEO Jamie Dimon Warns Of 'Complacent' Markets Ignoring Impact Of Trump Tariffs On Interest Rates

JPMorgan Chase Co. (NYSE:JPM) is about to kick off the earnings season, as it is one of the first banks to report on July 15. However, its technical chart shows mixed signals as the bank is ready to report its second-quarter earnings.

AAP

Bank exec charged with seeking girls for sex gets bail

A corporate finance executive with a major bank has been accused of engaging a sex worker to send two underage girls to his luxury hotel room.

The Independent UK

Bank of England will monitor cash acceptance on ongoing basis

Dame Meg Hillier, chairwoman of the Treasury Committee, described the development as a ‘positive first step’.

The Guardian - UK

HSBC becomes first UK bank to quit industry’s net zero alliance

Campaigners condemn ‘troubling’ move that follows departure of six of largest US banks after Trump’s election

The National (Scotland)

Wages at top bank's Glasgow HQ 'closer to India than America'

THE wages of workers at a major bank’s Glasgow base are reportedly closer to those it pays in India than in America.

The Independent UK

Barclays launch new sub-4% mortgage to compete with best rates on market

Several lenders are now offering deals with interest rates below 4% - but you need to meet certain criteria

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