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The Latest Breaking News on Financial Services

State-owned British Business Bank reveals £147m annual loss

UK’s economic development bank says it was impacted by wider economic difficulties

The Independent UK

CBI secures emergency funding to stave off potential collapse

Members fled business lobby group after sexual misconduct allegations leaving it with £3m hole in its finances

The Guardian - UK

Madras High Court upholds bank manager’s removal from service for producing fake boarding, lodging bills

Madras HC upholds removal from service of bank manager for producing fake bills; notes he should have thought of his family before submitting false bills & gaining monetary benefit. Court said it cannot substitute itself for appointing authority & only consider if principles of natural justice were violated.

The Hindu

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‘Imagine Westminster under water’: stricter tests needed to see how City copes with climate disasters

Sam Woods, head of the Bank’s financial stability watchdog, says lenders have only shown they can survive ‘slow burn’ changes to temperatures

The Guardian - UK

Bank employee held for gold jewellery theft in Vellore

Police arrested 35-yr-old Venkatesan for stealing 50 sovereigns of gold jewellery from his neighbour's house in Vellore. CCTV footage, chilli powder sachets & tank cleaning evidence led to his arrest. Valuables were recovered from bank locker. Suspect lodged in Central Prison.

The Hindu

Bridgeport bank failure fallout sees owner of home where bank CEO died found guilty of embezzling $6 million

Marek Matczuk, who said he did odd jobs for Washington Federal Bank for Savings and its employees, was given the money on orders of the late bank chief John F. Gembara.

Chicago Sun-Times

Are Bank of America (BAC) and PNC Financial (PNC) the Right Picks for Your Portfolio?

The banking sector has been stabilizing after the turmoil hit earlier this year due to the sudden collapses of three major regional banks. However, it remains under pressure following downgrades from top credit rating agencies. Amid this, let’s find out if Bank of America (BAC) and PNC Financial (PNC) are…

StockNews.com

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Gloriavale community takes big banks to the Commerce Commission

A controversial and reclusive West Coast Christian community is seeking to overturn the tables of the money lenders. Jonathan Milne reports.

Newsroom.co.nz

Alex Murdaugh co-conspirator granted delay to prison sentence – again

Judge told disgraced banker Russell Laffitte: ‘No further extensions will be granted’

The Independent UK

Bombay HC rejects Mehul Choksi’s pleas challenging proceedings to declare him fugitive economic offender

The Bombay High Court on Thursday rejected all the pleas filed by fugitive diamantaire Mehul Choksi challenging the applications by the Enforcement Directorate (ED) to declare him a fugitive economic offender (FEO) in the multi-crore Punjab National Bank (PNB) scam. The directorate has filed three chargesheets against Mr. Choksi and…

The Hindu

Bank closures 'sad and frustrating' for rural towns

Junee fought back when the Commonwealth Bank prepared to close the only bank in the NSW Riverina town, an inquiry has been told.

AAP

Crisis-hit CBI shelves plans for tie-up with manufacturing body Make UK

Confederation of British Industry tells members it is confident an alternative emergency cash rescue will be found

The Guardian - UK

Demand among savers for fixed-term deals has surged, bank reports

NatWest said more than 82,000 fixed-term savings accounts were opened in the first half of this year.

The Independent UK

ED raid on Ayyanthole bank ends on Tuesday morning

ED raids on Ayyanthole & Thrissur Service Co-op Banks conclude. ED examined accounts of Satheesh Kumar, his relatives & 'benamis' in Ayyanthole Bank. ED took details of 5,000-odd accounts in Thrissur Bank. Reports of more people to be questioned in Karuvannur Bank loan scam. A.C. Moideen informed ED of his…

The Hindu

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The Independent UK

Do you have a right to a bank account?

The regulator is taking a closer look at why people do not have a bank account and an apparent high range of declines for those seeking basic banking.

The Guardian - UK

FCA finds no evidence of customers being debanked over political views

Watchdog launched inquiry after row over Coutts’s handling of Nigel Farage’s account

AAP

Banks 'cold and unhelpful' as they desert rural areas

Face-to-face banking is part of the social fabric in Tasmania's regions, which have ageing populations and low levels of literacy, an inquiry has been told.

Dynamite News

DN Exclusive: Is PNB top management under deep slumber? CBI nabs another official for bribe, Bank’s work culture under question mark

Back to back arrest of Punjab National Bank's (PNB) officials by the Central Bureau of Investigation (CBI) in corruption cases is raising a big question on the work culture and credibility of the Bank. Why does the top management totally fail to make the Bank corruption free? Read full story…

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news in one place.

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The Guardian - UK

A note of caution about the withdrawal of cash

Without coins and notes, unaccountable banks can know everything we’re spending. Is that good?

StockNews.com

1 Income Stock to BANK ON Now

One of the best ways to address risk is through diversity. With a strong balance sheet and solid earnings KB Financial (KB) provides a diverse option in the banking sector, with international exposure to mitigate some of the risk we’ve seen in U.S. banking this year.

The Hindu

Kerala Assembly unanimously passes latest amendments to Kerala Co-operative Societies (Amendment) Bill

State Assembly unanimously passes latest amendments to Kerala Co-operative Societies (Amendment) Bill

The Independent UK

Smiling Alex Murdaugh appears in court in shackles as trial date set in financial fraud case

The disbarred South Carolina attorney is already facing two life sentences for the June 2021 murders of his wife Maggie and son Paul

Evening Standard

It’s not vandalism to dream of reviving the Curzon Mayfair

City Voices: Contrary to how he’s being presented, Dan Zaum is not aiming to scrap the beloved Mayfair cinema

The Times of India

RBI to banks: Return property papers within 30 days of loan repayment, or pay Rs 5000 fine

MUMBAI: The Reserve Bank of India (RBI) has issued guidelines to banks regarding the release of documents related to movable and immovable property upon full repayment of loans by customers. These guidelines have been introduced to address discrepancies in the practices followed by banks, which have led to customer grievances…

Newsroom.co.nz

Heartland breaks ranks to allege 'distorting' behaviour by big banks

Big banks' deep pockets allow them to tilt the playing field with mortgage broker incentives and home loan cashbacks, says Heartland chief executive. Jonathan Milne reports.

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