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The Latest Breaking News on Financial Services

Social media firms should reimburse online fraud victims, say UK bankers

Boss of industry body UK Finance accuses tech companies of ‘profiting’ from scams on their platforms

The Guardian - UK

CIMBT looks to digital personal loan growth

CIMB Thai Bank (CIMBT) plans to expand digital personal loans this year, targeting 500 million baht in total by focusing on the upper-income segment.

Bangkok Post

Higher interest rates help Cambridge and Counties Bank profits rise 54 per cent

CEO says excellent financial performance benefitted from 'higher rates in this more uncertain environment'

Birmingham Post

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Investigation after bank workers 'rate customers by how sexy they are'

Claims that Metro Bank employees had WhatsApp group to rank female users

Wales Online

Local bourse starts to see net inflows

The Thai stock market, which posted significant capital outflows in the first four months of this year, has begun to record net inflows this week as investors absorbed negative news about the US banking crisis and a potential recession, says the Stock Exchange of Thailand (SET).

Bangkok Post

Washington Federal Bank for Savings collapse sees another former employee charged

Brian Fong is cooperating with prosecutors. Fifteen bank officials, workers and borrowers have been charged, and a Daley family was convicted of cheating on his taxes in a related case.

Chicago Sun-Times

Former AGM of Punjab National Bank, 3 others get five-year jail term for bank fraud

According to a release, CBI had registered the case on February 19, 2016 against M/s. Sheetal Refineries Limited and its directors on the allegations of committing bank fraud and causing a loss of ₹53.82 crore to Punjab National Bank.

The Hindu

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Stocks Slip Lower, PayPal Slides, Fox Earnings On Deck, SBF Seeks Dismissals, Biden Debt Ceiling Talks - 5 Things To Know

Stock futures lower with inflation data in focus; PayPal slides as margin concerns offset earnings beat; Fox shares edge higher ahead of Q3 earnings report; Sam Bankman-Fried asks judge to dismiss bulk of changes in FTX collapse and President Biden set for 'big four' meeting as debt ceiling deadline looms.

The Street

Asian, European markets mostly down as US inflation moves into focus

Hong Kong (AFP) - Markets struggled Tuesday as investors eyed the release of US inflation data later in the week, while mixed Chinese trade data suggested that recovery in the world's number two economy was still taking time.

AFP

Unlicensed ‘bank’ CEO’s Commons invite stokes access concerns

Vulnerability of MPs’ groups to influence of private firms highlighted by appearance at blockchain inquiry

The Guardian - UK

Westpac reverses decision to close eight regional branches as senate inquiry continues

Months after postponing the closures because of an ongoing Senate inquiry, the bank has announced that branches in several states will remain open indefinitely.

ABC News

Asian markets mostly down as US inflation moves into focus

Hong Kong (AFP) - Asian markets struggled Tuesday as investors eyed the release of US inflation data later in the week that could play a key role in shaping the Federal Reserve's interest rate plans.

AFP

US banks expect to tighten lending standards on sector worries

Washington (AFP) - US banks tightened lending standards in the first few months this year, and expect this to continue over the rest of 2023, said a Federal Reserve survey released on Monday.

AFP

Majority of People Prefer Traditional Banks Over Online Banks

A new study found that 83% of respondents prefer traditional banks over digital-only, largely due to face-to-face service.

Kiplinger

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StockNews.com

3 Top Momentum Utility Stocks to Own

Volatility has gripped markets as fears of an imminent recession continue to dent investors’ confidence. Therefore, it could be wise to own fundamentally strong utility stocks ONEOK, Inc. (OKE), Brookfield Infrastructure Corporation (BIPC), and Genie Energy (GNE), which have gained momentum lately, to strengthen your portfolio. Read more….

StockNews.com

No. 1 Bank Stock to Short This Week

Investors remain jittery over the future of regional banks. PacWest Bancorp (PACW) has seen its stock price plummet over the past few weeks on concerns over its ability to stay afloat. With news of the bank looking at several strategic options, including a sale, I believe it could be wise…

Daily Mirror

One punch killer's sentence slammed by family who say year behind bars is 'sickening'

Rachel Mason, the sister of Paul Mason, 52, who was killed in an attack in London by Steven Allen, has again criticised the length of sentence he face serving behind bars

Daily Record

Number of people seeking help for domestic abuse jumps by nearly 50 per cent

Projects designed to protect people from domestic violence and fraud have been embraced by the community

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news in one place.

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Investors Business Daily

Regional Bank Stocks Turn Mixed; PacWest Rises After Dividend Cut

Regional bank stocks continue rebounding early Monday. PacWest Bancorp spiked another 40% after slashing its dividend, rocketing 82% Friday.

The Street

PacWest Stock Higher After Slashing Quarterly Dividend, Says Business Is 'Sound'

"Our business remains fundamentally sound," said PacWest CEO Paul Taylor.

Daily Record

Johnstone 'almost a banking desert' after RBS announce plans to close branch in town

The shutters are set to come down on the Church Street facility in August, leading to demands decision be reconsidered.

Bangkok Post

Bankers' pay is booming in Saudi Arabia

DUBAI: Even as the global financial community contends with layoffs and lower bonuses, banking jobs remain plentiful and salaries are surging in one unexpected corner of the world: Saudi Arabia.

ABC News

ASX closes higher, Westpac shares jump as bank records $4 billion profit in half-yearly results — as it happened

The Australian share market has closed higher after Westpac posted a $4 billion profit in its half-yearly results. Look back on the day's events as they happened with our blog.

AFP

Buffett faults US government handling of banking crisis

New York (AFP) - Investment tycoon Warren Buffett said Saturday that messaging from the US government over the regional banking crisis had been "poor," suggesting that is why confidence has not returned among consumers.

The New Daily

Budget and data to shed light on economy

New Treasury growth forecasts, to be included in the federal budget, and other data due this week are likely to shed light on the economy

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