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The Latest Breaking News on Financial Services

SBI-led consortium to finance Auro Infra’s ₹3,000-crore gateway port in Kakinada SEZ

SBI-led consortium to provide ₹3,000 crore loan for Kona gateway port on Kakinada coast, expected to be commissioned by mid-2025.

The Hindu

UK students launch Barclays ‘career boycott’ over bank’s climate policies

Campaign at leading universities such as Oxbridge and UCL warns lender it will miss out on top talent if it finances fossil fuels

The Guardian - UK

Ex-NatWest chief’s name axed from ‘Rose review’ into female-led firms

Exclusive: government to rebrand scheme amid fallout from Farage scandal that cost Alison Rose her job

The Guardian - UK

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UK mortgages: trial to rule on deals that left people with huge debts

Decades after shared appreciation mortgage launch, case brought by law firm due to reach high court

The Guardian - UK

Bank urges customers to ‘remain guarded’ against scams over festive season

Santander UK said two customers had made claims on Christmas Day last year after falling victim to the family and friends WhatsApp impersonation scam.

The Independent UK

‘You are deceased’: Services Australia bungle results in woman losing bank accounts and pension

A 74-year-old carer was mistakenly declared dead by Centrelink two times in a case advocates describe as illustrating the ‘devastating consequences of automation’

The Guardian - AU

Workers at Wells Fargo location in New Mexico vote to unionize

Employees at a Wells Fargo bank in New Mexico have voted to unionize, the first time that workers at a major U.S. bank have attempted to organize in the modern era

The Independent UK

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Co-operative Bank in merger talks with Coventry Building Society

Talks with hedge fund owners could return ethical bank to member ownership and create high street challenger with 5m customers

The Guardian - UK

‘We’re not backing down’: Wells Fargo workers push to grow union campaign

Four branches of the bank in New Mexico, Alaska, California and Florida have filed for union elections since November

The Guardian - US

2023 has been ‘comeback year’ for spending on live events, says bank

Live events have taken centre stage once more in customers’ spending habits, with the average spend at £50 to £60 per month, according to HSBC UK.

The Independent UK

Austrian RBI acquires 28% of Strabag, reducing Russia exposure

Austrian bank RBI is getting creative in its efforts to reduce its exposure to Russia, taking a 28% stake in construction firm Strabag.

Top News

Vietnam Property Developer Faces Trial Over $12.5 Bn Bond Fraud

The chairwoman of major property developer Van Thinh Phat will go on trial in Vietnam, accused with accomplices of embezzling $12.5 billion from a bank "for personal purposes", the official government website said.

International Business Times

Rationale behind RBA's December rates call on show

The minutes from the December interest rate meeting will outline the Reserve Bank's thinking on inflation as households gear up for the festive season.

AAP

Karuvannur bank scam: Two key accused wish to turn approvers

Biju M. Karim and Sunil Kumar T.R., former manager and secretary respectively of the Karuvannur Service Co-operative Bank in Thrissur, have expressed their willingness to become prosecution witnesses in the case related to the multi-crore scam at the bank.

The Hindu

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The Hindu

Bank manager, four others convicted by CBI court

The CBI Special Court of Dharwad convicted a bank manager, director of a trading company, chartered accountant, and two others in the case of defrauding Bank of India to the tune of ₹90 lakh.

The Guardian - UK

No evidence Coutts closed accounts due to political views, report says

Independent review, launched after Nigel Farage’s complaints, finds bank may have breached procedural rules

AAP

NAB chair defends bank's climate pledges at fiery talks

Shareholders have grilled NAB's chairman over the banking giant's commitment to climate change at a heated annual general meeting.

AAP

Savers miss out as banks exploit 'consumer inertia'

The consumer watchdog says many bank customers are paying the loyalty tax on their savings accounts and could be earning more interest.

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news in one place.

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Caixin Global

Former China Cinda Executive Under Graft Investigation

Retired vice president of bad debt management company suspected of ‘serious disciplinary and legal violations’ as crackdown on corruption in China’s finance industry intensifies

StockNews.com

Under $10 POWR Stock of the Week: Medallion Financial (MFIN)

Since the housing bubble in the late 2000’s the U.S. has enjoyed an almost uninterrupted period of easy money. Financing for anything and everything was freely available from a wide variety of lenders. That came to an abrupt end last year as runaway inflation forced the Federal Reserve to rapidly…

Latin Times

Exclusive: JPMorgan's Top Executive Shares Keys to Hispanic & Latino Success

Silvana Montenegro shares highlights about her career, JPMorgan's initiatives to boost Latinos, and how the firm champions diversity

The Guardian - UK

Banks are leaving charities unable to access their funds

Letter: Leaders from the voluntary sector on the challenges that small organisations are increasingly facing with banking services

Kiplinger

Atlantic Union to Refund Consumers $5M In Overdraft Fees

Atlantic Union Bank must refund at least $5 million to people who were illegally enrolled in checking account overdraft programs, the CFPB says.

The Guardian - UK

‘Complete disregard’: Charities condemn Barclays over frozen bank accounts

More groups come forward to describe how shutdown suddenly left them unable to pay bills or staff

The Guardian - AU

‘My whole world revolves around cash’: why some Australians fear being left behind by a cashless future

With more transactions taking place digitally, cash transit companies warn of reduced services – which experts say risks isolating those who rely on notes and coins

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