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The Latest Breaking News on Financial Services

International banker sacked after claiming partner’s sandwich on expenses

Citibank analyst dismissed after claiming for two sandwiches, two coffees and two pasta dishes on work trip to Amsterdam

The Independent UK

Bank of America (BAC) Earnings Under the Microscope: A Buy or Sell Opportunity?

Bank of America (BAC) is scheduled to release its third-quarter results on October 17. While the bank is expected to report higher earnings year-over-year, its unrealized bond losses are expected to widen further. So, is the stock a buy or sell? Keep reading….

StockNews.com

Is Truist Financial (TFC) a Buy or Sell Before Earnings?

Truist Financial Corp (TFC) is set to report its third-quarter results this week. Should investors buy or sell the stock now, given its cost-cutting plans? Let’s look at its financial metrics to gauge its prospects….

StockNews.com

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Banker who got into double trouble for claiming 2 meals on expenses loses UK lawsuit over firing

A financial analyst who was fired by Citibank after claiming a two-sandwich lunch on expenses has lost a legal battle for wrongful dismissal

The Independent UK

Former Bank of China boss arrested on corruption charges

Liu Liange charged with accepting bribes and illegally granting loans amid country’s anti-corruption drive

The Guardian - UK

ED provisionally attaches Rs 315.6 crore worth of assets in bank fraud case in Maharashtra

MUMBAI: The enforcement directorate (ED), probing money laundering angle in a bank fraud case, on Friday has provisionally attached 70 immovable properties located at five locations in Maharashtra and moveable assets such as silver and diamond jewellery etc collectively valued at Rs 315.6 crore.

The Times of India

Mumbai: Retired Army officer loses money in online fraud

MUMBAI: A retired Indian Army officer was shocked to learn Rs2.37 lakhs was siphoned off from his two savings banking accounts in a nationalised bank between September 8 and 15.

The Times of India

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'Bicycle bandit' charged over decade of bank robberies

After almost two decades, police have arrested and charged a man in his 70s they allege is the "bicycle bandit" responsible for a series of bank robberies.

AAP

Tim Dowling: masonry – how hard can it be? But I’ve got to find the right trowel …

With the help of YouTube, I’m repairing the garden wall. But the more I chip, the more bricks I need to replace …

The Guardian - UK

JP Morgan CEO warns world may be facing ‘most dangerous time’ in decades

Jamie Dimon says Israel-Gaza conflict may have ‘far-reaching impacts’ on energy prices, food costs and international trade

The Guardian - US

Crooked Bridgeport bank used these people’s CDs to fuel embezzlement scheme — ‘We were all victims’

Washington Federal Bank for Savings customers had no idea the high interest rates that attracted them were feeding the fraud. The bank’s “smooth operators” lured them in, the daughter of one victim says.

Chicago Sun-Times

NatWest initiative could save hassle for some shoppers at online checkouts

Customers with a NatWest, Royal Bank of Scotland or Ulster Bank Mastercard have been registered for the Click to Pay service.

The Independent UK

Sri Lanka says it has reached an agreement with China's EXIM Bank on debt, clearing IMF funding snag

Sri Lanka says that it has reached an agreement on key terms and principles on its debt restructuring with the Exim Bank of China

The Independent UK

Earnings Watch: JPMorgan Chase & Co. (JPM) Stock Under the Spotlight

JPMorgan & Chase (JPM) is scheduled to release its third-quarter earnings on October 13. A troubled banking backdrop and analysts’ expectations of a year-over-year improvement in the company’s earnings and revenue will keep it under the spotlight. Keep reading to know the possible factors influencing JPM’s third-quarter financials and whether…

StockNews.com

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The Guardian - UK

Severe debt burdens thwarting progress on climate and poverty, says World Bank

Bank’s new president Ajay Banga urges faster action on providing debt relief but says there is no ‘magic wand’

The Independent UK

Banking and insurance gripes pushing up financial complaints figures – ombudsman

Complaints in the first half of this year have particularly increased in the banking and insurance sectors, the Financial Ombudsman Service said.

The Guardian - UK

Metro Bank gets another shot at redemption – but too late for the small shareholders

Chief executive’s boast that there is nothing wrong with its business model will sound hollow to those nursing a 97% loss

The Hindu

Bank assistant manager, businessman convicted of cheating SBM of ₹2.70 crore

CBI court in Dharwad convicts bank assistant manager and businessman of cheating State Bank of Mysore of Rs 2.70 crore. Sentenced to one-year jail and fined Rs 1.20 lakh. Fraud committed by assistant manager to help borrowers. CBI argued case before Special Judge for CBI cases N. Subramanya.

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Evening Standard

What is happening at Metro Bank? What customers need to know

Millions of users awaiting news of bank’s survival

The Guardian - UK

Metro Bank to slash costs after £925m rescue deal

Lender confirms customers have started to pull money out amid worries over its financial health

The Hindu

Karuvannur bank scam casts Thrissur LS constituency at the centre of a high-stakes CPI(M)-BJP political battle

In Thrissur, the Karuvannur Cooperative Bank scam has become a major political issue ahead of the 2024 Lok Sabha polls. BJP's Suresh Gopi has increased the party's vote share in the district, and CPI(M) is on the offensive, accusing BJP of using ED to further Gopi's candidacy. BJP's K. Surendran…

The Guardian - UK

Metro Bank agrees rescue deal with investors

Lender secures £325m capital from new and existing shareholders and £600m of debt refinancing

AAP

Resilience of Australian businesses under a microscope

A health check on the business sector and consumers will reveal how well the economy is holding up as price pressures persist and interest rates remain high.

The Hindu

Consumer rights panel in Kerala asks banks to put out service information, SMS alerts in regional languages

Kerala commission advises banks to offer forms, service conditions in regional languages with option for customers to choose language for SMS alerts. Petitioner lost ₹45,000 in fraudulent ATM transactions, but bank argued no negligence. Commission dismissed complaint, but recommended banks offer info in regional languages for debit/credit cards, net banking,…

The Guardian - UK

Metro Bank shares rebound amid reports of £600m capital offer

Lender’s stock hit all-time low after news it was exploring selling off up to 40% of mortgage book

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