The Latest Breaking News on Financial Services

Bank account closures: what new rules mean for UK customers

Under Treasury proposals, lenders will have to explain why they shut accounts and give 90 days’ notice

The Guardian - UK · Jul 20, 2023

Nigel Farage receives apology from Coutts after bank account closure row

Ministers will make it harder to close accounts after former UKIP leader’s spat with Coutts

Evening Standard · Jul 20, 2023

The Fed Launches Real-Time Payments System: Kiplinger Economic Forecasts

FedNow, the Federal Reserve's real-time payment system works with banks and service providers to facilitate instant transactions 24 hours a day, 365 days a year.

Kiplinger · Jul 20, 2023

ED conducts searches in Jet Airways case

ED searches multiple locations in Mumbai and Delhi in money laundering case related to Jet Airways. FIR registered by CBI. Company defaulted on payment and lenders initiated resolution exercise. Loan accounts of ₹728.66 crore, incl. ₹538.62 crore to Canara Bank, declared fraud.

The Hindu · Jul 19, 2023

Bank of America (BAC): What Should Investors Do With the Stock?

Bank of America (BAC), the second-largest U.S. bank by assets, beat Street revenue and earnings estimates in the second quarter but is stuck with more than $105 billion in unrealized losses. Moreover, the bank was slapped with refunds and fines worth $250 million earlier this month. In this piece, I…

StockNews.com · Jul 19, 2023

Temasek seeks partnerships to deploy $5 billion a year in India

Singapore’s Temasek Holdings Pte is looking for strategic partners as it seeks to deploy between $3 billion to $5 billion a year in India, betting that the country can become a top driver for growth.

The Times of India · Jul 19, 2023

Bank Of America CEO Highlights Stable Deposits And Healthy Consumers Amid Strong Quarterly Results

BofA's Q2 revenue beats estimates, client balances climb and loan demand remains steady.

Zenger · Jul 19, 2023

Top 3 Bank Stocks in a B-Rated Industry

The regional banking collapse continues to cause economic concern despite the Fed’s efforts to strengthen the system's resilience. Thus, it could be wise to venture beyond national borders and invest in robust stocks Banco Santander (SAN), Banco Bilbao Vizcaya Argentaria (BBVA), and KB Financial Group (KB) that belong to the…

StockNews.com · Jul 18, 2023

Eye on Emirati flows: on the new India-UAE framework and rupee-dirham transactions

The India-UAE local currency settlement system could serve as a precursor for other bilateral currency accords and help in the internationalisation of the rupee

The Hindu · Jul 17, 2023

U.S. Virgin Islands Seeks $190M From JPMorgan In Epstein Sex Trafficking Case

Territory demands minimum payment and policy changes to hold bank accountable.

Zenger · Jul 17, 2023