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The Latest Breaking News on Financial Services

Given the broad economic headwinds and widespread recessionary concerns, a bear market might be on the horizon. Against this, stable tech stock Accenture plc (ACN) could be a solid buy-and-hold choice. Let’s explore the trends of some of the company’s key metrics….

StockNews.com

TD Bank Launches New Credit Cards

TD Bank launched new credit cards, including TD Clear and TD FlexPay.

Kiplinger

FDIC proposes big banks pay to recover losses in SVB and Signature failures

There were concerns that small banks would wind up bearing some of these costs and this proposal heads those off.

Axios

From analysis to the latest developments in health,
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3 Foreign Bank Stocks to Consider Amid U.S. Banking Turmoil

The U.S. banking industry faces the most formidable challenge since the global financial crisis in 2008. Therefore, it could be wise to buy fundamentally strong foreign bank stocks China Minsheng Banking (CMAKY), Commerzbank (CRZBY), and Banco Macro (BMA). Keep reading….

StockNews.com

New bank hub to open in Greater Manchester area which is set to lose its last branch

NatWest’s decision to shut its Heald Green branch meant people living in the Cheadle area were to be left without any face-to-face banking services from July.

Manchester Evening News

Bank of England lifts inflation and growth forecasts as it raises interest rates to 4.5% – business live

BoE governor Andrew Bailey predicts inflation will have halved by the end of this year, thanks to falling energy bills

The Guardian - UK

Social media firms should reimburse online fraud victims, say UK bankers

Boss of industry body UK Finance accuses tech companies of ‘profiting’ from scams on their platforms

The Guardian - UK

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CIMBT looks to digital personal loan growth

CIMB Thai Bank (CIMBT) plans to expand digital personal loans this year, targeting 500 million baht in total by focusing on the upper-income segment.

Bangkok Post

Higher interest rates help Cambridge and Counties Bank profits rise 54 per cent

CEO says excellent financial performance benefitted from 'higher rates in this more uncertain environment'

Birmingham Post

Investigation after bank workers 'rate customers by how sexy they are'

Claims that Metro Bank employees had WhatsApp group to rank female users

Wales Online

Local bourse starts to see net inflows

The Thai stock market, which posted significant capital outflows in the first four months of this year, has begun to record net inflows this week as investors absorbed negative news about the US banking crisis and a potential recession, says the Stock Exchange of Thailand (SET).

Bangkok Post

Washington Federal Bank for Savings collapse sees another former employee charged

Brian Fong is cooperating with prosecutors. Fifteen bank officials, workers and borrowers have been charged, and a Daley family was convicted of cheating on his taxes in a related case.

Chicago Sun-Times

Former AGM of Punjab National Bank, 3 others get five-year jail term for bank fraud

According to a release, CBI had registered the case on February 19, 2016 against M/s. Sheetal Refineries Limited and its directors on the allegations of committing bank fraud and causing a loss of ₹53.82 crore to Punjab National Bank.

The Hindu

Unlicensed ‘bank’ CEO’s Commons invite stokes access concerns

Vulnerability of MPs’ groups to influence of private firms highlighted by appearance at blockchain inquiry

The Guardian - UK

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ABC News

Westpac reverses decision to close eight regional branches as senate inquiry continues

Months after postponing the closures because of an ongoing Senate inquiry, the bank has announced that branches in several states will remain open indefinitely.

Kiplinger

Majority of People Prefer Traditional Banks Over Online Banks

A new study found that 83% of respondents prefer traditional banks over digital-only, largely due to face-to-face service.

StockNews.com

3 Top Momentum Utility Stocks to Own

Volatility has gripped markets as fears of an imminent recession continue to dent investors’ confidence. Therefore, it could be wise to own fundamentally strong utility stocks ONEOK, Inc. (OKE), Brookfield Infrastructure Corporation (BIPC), and Genie Energy (GNE), which have gained momentum lately, to strengthen your portfolio. Read more….

StockNews.com

No. 1 Bank Stock to Short This Week

Investors remain jittery over the future of regional banks. PacWest Bancorp (PACW) has seen its stock price plummet over the past few weeks on concerns over its ability to stay afloat. With news of the bank looking at several strategic options, including a sale, I believe it could be wise…

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Daily Mirror

One punch killer's sentence slammed by family who say year behind bars is 'sickening'

Rachel Mason, the sister of Paul Mason, 52, who was killed in an attack in London by Steven Allen, has again criticised the length of sentence he face serving behind bars

Daily Record

Number of people seeking help for domestic abuse jumps by nearly 50 per cent

Projects designed to protect people from domestic violence and fraud have been embraced by the community

Daily Record

Johnstone 'almost a banking desert' after RBS announce plans to close branch in town

The shutters are set to come down on the Church Street facility in August, leading to demands decision be reconsidered.

Bangkok Post

Bankers' pay is booming in Saudi Arabia

DUBAI: Even as the global financial community contends with layoffs and lower bonuses, banking jobs remain plentiful and salaries are surging in one unexpected corner of the world: Saudi Arabia.

ABC News

ASX closes higher, Westpac shares jump as bank records $4 billion profit in half-yearly results — as it happened

The Australian share market has closed higher after Westpac posted a $4 billion profit in its half-yearly results. Look back on the day's events as they happened with our blog.

The New Daily

Budget and data to shed light on economy

New Treasury growth forecasts, to be included in the federal budget, and other data due this week are likely to shed light on the economy

Birmingham Post

Former chair of Hodge Bank and Eversheds Keith James has died

One of the most respected figures in the Welsh business community he also created the vision for the IWA and served on the board of Admiral

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