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The Latest Breaking News on Financial Services

HSBC Targets $1.5 Bn In Annual Cost Savings After Revamp

Banking giant HSBC said Wednesday that CEO Georges Elhedery's plan since October to simplify the company's structure and geographic setup will yield $1.5 billion in annual cost savings by the end of 2026.

International Business Times

Mumbai's EOW summons ex-bank general manager Hitesh Mehta over Rs 122 crore fraud

The Economic Offences Wing (EOW) has summoned Hitesh Pravinchand Mehta, the former General Manager of New India Co-operative Bank Limited, in connection with a Rs122 crore financial fraud case, Mumbai police confirmed in their statement. Read further on Dynamite News:

Dynamite News

Sen. Jim Justice Criticizes Democrats For Excessive Government Spending

Senator Jim Justice criticizes Democrats for opposing cost-cutting measures and supports President Trump's efforts to reduce government spending.

Top News

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UK-based lawyers for Hong Kong activist Jimmy Lai targeted by Chinese state

Exclusive: Barristers at Doughty Street Chambers say they have been subject to surveillance, hacking and rape threats

The Guardian - UK

‘Crystal Methodist’ fails to show for Manchester sentencing hearing

Judge issues arrest warrant for disgraced former cleric and ex Co-operative Bank boss Paul Flowers

The Guardian - UK

Everything you need to know about the Rachel Reeves expenses row

Chancellor under fire for CV and expenses

Evening Standard

Warrant issued for arrest of ‘Crystal Methodist’ former bank boss Paul Flowers

Flowers, 74, who pleaded guilty to a catalogue of fraud, amounting to nearly £100,000, did not appear at court for sentencing.

Evening Standard

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Nigel Farage considers private criminal proceedings against NatWest Group over debanking scandal

Row over debanking of Reform UK leader led to departure of chief executive Dame Alison Rose in 2023

The Independent UK

NatWest wants potential 43% payrise for boss as government reduces stake below 7%

The bank are anticipating a ‘new, forward-looking chapter’ once it returns to fully private ownership

The Independent UK

NatWest wants to raise CEO’s maximum pay by more than 40%

Paul Thwaite could earn up to £7.7m, and move comes as bank prepares to return to full private ownership

The Guardian - UK

JPMorgan's Jamie Dimon Blasts Employees Push For Hybrid Work: 'Don't Waste Time On It'

Chief executive officer Jamie Dimon of JPMorgan Chase gave a rather frank reply in response to growing employee pushback about returning to in-office work.

International Business Times

Rachel Reeves accused of ‘cavalier attitude’ to expenses during banking career

Chancellor and PM insist there was no wrongdoing after claims she was investigated for alleged misuse of expenses

The Guardian - UK

Rachel Reeves caught lying on CV AGAIN about jobs at Bank of England and Halifax

CHANCELLOR Rachel Reeves lied about the amount of time she spent working for both the Bank of England and the Halifax Bank of Scotland (HBOS) ...

The National (Scotland)

Starmer backs Reeves amid scrutiny of CV changes and banking career expenses

Sir Keir Starmer believes the Chancellor can be trusted and has no concerns about her conduct, Number 10 said.

Evening Standard

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The Independent UK

Barclays to hand share award worth £500 to staff after yearly profits surge by a quarter

The banking group will be handing out share awards worth £500 to the vast majority of its staff following the financial performance.

Evening Standard

Barclays to hand share award to staff after yearly profit surges by a quarter

The banking group will be handing out share awards worth £500 to the vast majority of its staff following the financial performance.

The Guardian - UK

Pay of Barclays CEO more than doubles to £10.5m as profits soar

Other top performers at group share £1.9bn bonus pool while 90,000 employees awarded £500 each in shares

Evening Standard

Barclays boss sees total pay package double to more than £10 million

Pay bonanza comes as high street bank profits rose by a quarter to £8.1 billion in 2024

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International Business Times

Germany's Commerzbank To Cut Jobs To Fight Off UniCredit

German lender Commerzbank said Thursday it plans to cut about 3,900 jobs, around 10 percent of its workforce, seeking to fight off pressure for a tie-up from Italian bank UniCredit.

Evening Standard

Mortgage market cheered by return of sub 4% fixed rate deals from Barclays and Santander

The return of stability in the City’s money markets has allowed lenders to offer cheaper mortgage deals

The Guardian - AU

Commonwealth Bank posts $5bn profit as Australian households struggle. Here are four things we learned

While some of its customers are under considerable pressure, CBA is enjoying the fruits of its large mortgage portfolio, half-year financial results show

The Guardian - UK

Boost for UK borrowers as Santander ‘fires starting gun’ on mortgage price war

Bank to offer first two-year deal under 4% with rivals likely to follow suit

Evening Standard

HSBC online and mobile banking working again after service outage

It follows recent outages at other major banks in recent weeks.

The Guardian - UK

‘Let’s not forget the pain of the 2008 crisis in pursuit of growth,’ warns Andrew Bailey

Bank of England governor says there is ‘no trade-off’ between economic growth and financial stability

The Independent UK

Bank of England chief cautions over cutting regulation post-financial crisis

Andrew Bailey insisted there was ‘no-trade off between economic growth and financial stability’ in a speech delivered in London on Tuesday.

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