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The Latest Breaking News on Financial Services

Why was Philip Lowe not reappointed as RBA governor? We can rule out interest rates as a reason

Lowe made three key mistakes – targeting house prices before the pandemic, misleading about future rate rises and ignoring cultural problems within the RBA

The Guardian - AU

Bank of America’s misconduct goes against everything its founder stood for

Unlike many of America’s business titans, Amadeo Pietro Giannini was a paragon of ethics and excellence.

Chicago Sun-Times

Australia appoints first female governor in central bank’s history

Michele Bullock will start her seven-year term as Reserve Bank of Australia governor this September

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Afternoon Update: cautious welcome for new RBA governor; Peter van Onselen loses case; and watch Fran Drescher’s fiery Hollywood strike speech

Labor hails appointment of first female Reserve Bank boss as ‘historic moment for Australia’

The Guardian - AU

Colonial settles super fees class action for $100m

Thousands of super fund members will be eligible for a share in a $100 million settlement, the highest by law firm Slater and Gordon in a class action.

AAP

Australia names first woman to lead central bank

Michele Bullock will take over as governor of the Reserve Bank of Australia in September.

Al Jazeera

Michele Bullock: what you need to know about the RBA’s new governor

The Reserve Bank ‘lifer’ will succeed Philip Lowe in the top job. Who is Michele Bullock and what has been the reaction to her appointment?

The Guardian - AU

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First woman to lead Reserve Bank as Lowe exit locked in

Philip Lowe will leave his post as head of the Reserve Bank, with Michele Bullock the first woman picked to lead Australia's central bank.

AAP

Nationals accuse Labor of ‘hypocrisy’ over response to scathing APVMA report – as it happened

This blog is now closed

The Guardian - AU

Bank of America Fined Over Junk Fees, Fake Accounts. Customers Get $100M Payout

Bank of America was ordered to pay more than $100 million to customers for 'double-dipping' junk fees and denying rewards bonuses.

Kiplinger

Citigroup (C): Is the Stock Worth Putting Money Into?

There are growing signs of stability returning to the banking sector. Recently, large banks, including Citigroup (C), passed the Federal Reserve’s stress test. However, C is expected to report a year-over-year decline in EPS and revenue for the second quarter. So, will it be wise to buy the stock now?…

StockNews.com

UK’s biggest mortgage lenders in 2022 ranked

Lloyds Banking Group has held its position as the UK’s biggest mortgage lender but some providers moved up or down the tables.

The Independent UK

Confidence growing in East Midlands economy

NatWest business survey found inflation eased in June and business confidence was at its strongest since early 2022

Birmingham Post

Jo was scammed out of $4,000. She wants Australia’s banks to be responsible for paying it back

While banks resist calls to agree to a code for reimbursing money to fraud victims, consumer law advocates warn of the ‘outsized vulnerability of our citizens to scams’

The Guardian - AU

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Insider UK

OakNorth expands into Scotland with new Glasgow office

Two senior debt finance specialists now on the ground to drive lending into Scottish SMEs

The Guardian - UK

UK lenders pass stress tests as Bank of England warns of more mortgage pain

Banks ‘could weather £125bn hit in economic downturn’ despite rising interest rates

The Guardian - AU

Afternoon Update: RBA cuts number of meetings; wastewater exposes cities’ drug habits; and an algorithm creates the ‘best’ expletive ever

Reserve Bank governor Philip Lowe says the change will allow more time to examine key issues in detail

The Conversation

Reserve Bank Governor Lowe announces changes to bank's operations as cabinet readies to approve who will lead it

Reserve Bank Governor Philip Lowe has announced a raft of reforms the bank will make following the recent review of its operations, as the government prepares to announce who will lead it after his term expires in September.

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news in one place.

100's of premium titles.
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Chicago Sun-Times

Bank of America hit with $250M in fines, customer refunds for ‘double-dipping’ fees, fake accounts

It is one of the highest financial penalties in years against Bank of America, which has largely spent the last 15 years trying to clean up its reputation.

The Independent UK

Landmark First Bank building in Philadelphia to be renovated and will become a museum

The landmark First Bank of the United States in Philadelphia, subject of a fierce debate in the early years of the American republic, will be getting a $22.2 million renovation as part of a planned transformation into a museum

The Independent UK

TSB bank offering customers £200 for simple switch - here’s how to get it

There are several banks offering cash incentives if you swtich

The Independent UK

Saudi Arabia deposits $2 billion in Pakistan's central bank as a boost ahead of a key IMF meeting

Saudi Arabia has deposited $2 billion into Pakistan’s central bank, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country

Chronicle Live

Northumbria Healthcare NHS trust bucks national trend to pay some bank staff bonuses

Some bank staff at the Northumbria Healthcare NHS Trust will receive a lump sum bonus payment as part of the pay deal agreed in May - but that's not the case elsewhere in the North East

Dynamite News

Bangladesh moves beyond dollar to settle trade with India in rupee

Bangladesh is all set to settle trade with India in Rupee from Tuesday, a move to cut their reliance on the American currency, which was involved in nearly 90 per cent of global forex transactions in 2022, The Daily Star reported. Read further on Dynamite News:

The Guardian - UK

Andrea Leadsom held shares in Barclays when questioning bank’s ex-boss

Exclusive: Revelation about Tory former minister raises questions about adequacy of transparency rules

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