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The Latest Breaking News on Financial Services

Sexism in the City: Sexual harassment still 'prevalent' in Square Mile with victims 'silenced' by use of NDAs

Equality watchdog warns about scale of sexual misconduct in the Square Mile to Commons Treasury Committee investigating 'Sexism in the City'

Evening Standard

CPI expels former Kandala bank president Bhasurangan as ED detains him for questioning on money-laundering charges

CPI expels former Kandala Service Cooperative Bank president N. Bhasurangan after ED detains him for questioning on fraud-related money laundering charges. CPI demoted him earlier due to audit findings of ₹101 crore assets depreciation. CPI's action in stark contrast to CPI(M) protecting its members in similar Karuvannur Service Cooperative Bank…

The Hindu

ED raid at Kandala bank puts CPI and LDF on the defence

An Enforcement Directorate (ED) raid on the Communist Party of India-controlled Kandala Service Cooperative Bank has put the ruling Left Democratic Front (LDF) further on the defence.

The Hindu

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Halifax sorry for letter describing Israeli city as occupied Palestine

A letter sent by the bank to a British-Israeli man said Tel Aviv was ‘occupied’ Palestinian land

The Independent UK

Halifax ‘sorry’ for letter describing Israeli city as Palestinian territory

A letter sent by the bank to a British-Israeli man said Tel Aviv was ‘occupied’ Palestinian land.

The Independent UK

Key milestone in transformation of historic Belfast bank into tourist attraction

The former Bank of Ireland building is set to reopen by 2029 as Belfast Stories.

The Independent UK

‘Rivalry’ between ex-bureaucrat, Delhi vigilance secy resurfaces with letter to media, defamation threat

Tensions between a former bureaucrat and a secretary in Delhi’s vigilance department are back in the media glare with a series of letters and official notes referring to a CBI probe into a bank fraud case filed last year.

Newslaundry

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World Bank suspension of Uganda funds over anti-homosexuality law: what this says about the struggle over funds and sovereignty

The World Bank issued a statement on 8 August 2023, announcing that it had effectively suspended all new public financing to Uganda over concerns with the country’s anti-homosexuality law, which “fundamentally contradicts the World Bank Group’s values”.

The Conversation

Bombay High Court dismisses Jet Airways founder Naresh Goyal's plea against 'illegal' arrest by ED

Jet Airways founder Naresh Goyal had filed a habeas corpus (produce the person) petition in which he claimed he was illegally arrested by the ED in the case.

The Hindu

Ahead of FATF review, Centre takes multiple measures to implement recommendations

The measures include the notification of practising Chartered Accountants, Company Secretaries, and Cost and Management Accountants as reporting entities

The Hindu

Supreme Court seeks data on donations through electoral bonds, reserves verdict

Supreme Court gives Election Commission of India two weeks to produce data on contributions to political parties via electoral bonds scheme. CJI Chandrachud said ultimate purpose is to reduce unaccounted cash in electoral system, encourage banking channels and bring transparency.

The Hindu

CPI, BJP ‘tie up’ for cooperative bank election in Kasaragod

The forthcoming election to the Paivalike Service Cooperative Bank has taken an unexpected turn with reports emerging that traditional rivals, the Communist Party of India (CPI) and the Bharatiya Janata Party (BJP), have joined hands.

The Hindu

Cooperative society scam: VACB files case against former DCC president, others

VACB registers case against 13, incl. former Idukki DCC President, over Rs.4.52 crore financial scam at Idukki District Dealers-Co-operative Society. Plantation workers, incl. locals, had deposited Rs 5-30 lakh in society, which failed to return money. VACB to probe case, record statements. Former DCC President claims LDF trying to cover…

The Hindu

3 Buy Worthy Financial Stock Options for November Portfolio Additions

Although the Fed will likely keep the interest rates unchanged in its upcoming meeting, financial companies will likely benefit from the high-interest rate environment, with no possibility of a rate-cut initiative soon. Therefore, it could be wise to add fundamentally strong financial stocks Global Payments (GPN), Visa (V), and FirstCash…

StockNews.com

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AAP

The race to the regions is no short-term trend: report

Sydney continues to lose the most residents to the Australian countryside, as young city slickers seek a slower pace and greater affordability.

The Independent UK

Banks’ performance in dealing with APP scam victims revealed by regulator

The Payment Systems Regulator said there are inconsistent outcomes for customers who report an APP scam to their bank or building society.

Zenger

Massive $100B Deposit Exodus From US Banks Sparks Worries

Deposits flee US banks, raising concerns about financial stability.

Zenger

JPMorgan CEO Dimon Sells Shares, Fuels Retirement Speculation

Jamie Dimon's sale of 1 million JPMorgan shares raises questions about his future plans as CEO.

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The Guardian - UK

Higher interest rates help HSBC to more than double profits

Bank criticised by MPs for being too slow to reward savers as it announces 15% rise in net interest income and $3bn share buyback

Evening Standard

HSBC gives $3bn boost to investors as profits double

HSBC saw profits in the third quarter more than double to $7.7 billion thanks to higher interest rates, figures likely to lead to fresh calls for banks to boost savings rates.

The Independent UK

Another first for JPMorgan CEO Jamie Dimon, selling shares of the bank he's run for nearly 2 decades

JPMorgan Chairman and CEO Jamie Dimon and his family are planning to sell 1 million shares of the bank starting next year, according to a regulatory filing

The Hindu

KSOU officials failed to disclose transactions of bank account for 2021-22, says State Audit

While a CBI probe is under way into the alleged misappropriation of funds to the tune of ₹300 crore during 2009-10 to 2015-16 in Karnataka State Open University (KSOU), the State Audit and Accounts Department has alleged that the varsity officials had failed to share the details of its transactions…

The Guardian - UK

NatWest shares plunge after bank downgrades profit outlook

Competition for savers’ cash is putting pressure on its finances, says group

The Independent UK

Probe finds 'serious failings' in way British politician Nigel Farage had his bank account closed

An independent probe has found “serious failings” in how NatWest Group’s private and exclusive Coutts Bank shut down the account of the right-wing British politician Nigel Farage

Chicago Sun-Times

Client of crooked Bridgeport bank got out of $4 million owed by going bankrupt, then got millions more in loans

A month after Edward H. Gobbo got out of bankruptcy, Washington Federal Bank for Savings CEO John F. Gembara starting giving him loans of millions, records show. When the bank went bust, Gobbo or his immediate family owed more than $3.8 million on 27 residential loans, some of them years…

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