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The Latest Breaking News on Financial Services

Spectre of first global credit crunch since global financial crisis emerges as another US bank faces collapse

The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year.

ABC News

KAsset is feeling bullish on China amid reopening

Kasikorn Asset Management (KAsset), the largest mutual fund company by assets under management (AUM), reports a healthy start to the year with net inflows of more than 30 billion baht in the first quarter.

Bangkok Post

Asian shares revive after big US tech rally

RECAP: Shares in Asia rallied yesterday after robust earnings from tech giants Meta, Microsoft and Alphabet buoyed Wall Street, where the S&P 500 had its best day since the first week of the year.

Bangkok Post

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Market Dip? No Problem: These 2 Stocks Are Still a Great Buy

Unrest in the banking sector, worsened by the rising interest rate environment, has reignited market volatility and sparked a sell-off. Nevertheless, the recent market dip could provide an excellent opportunity for investors to buy fundamentally sound cheap stocks Murphy USA Inc. (MUSA) and Stride, Inc. (LRN), which could surge soon.…

StockNews.com

Fed blames itself for Silicon Valley Bank collapse

Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday

The Independent UK

Federal Reserve will consider tougher rules for banks after Silicon Valley Bank failure

The proposals come in an internal review that found looser rules were a key culprit behind Silicon Valley Bank's collapse.

Axios

Is my money safe? What you need to know about bank failures

Recent bank failures may have you worried about your money

The Independent UK

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Business confidence in the South West reaches highest level this year according to latest Lloyds research

According to the latest business `barometer overall UK business confidence reaches a 11-month high

Birmingham Post

Danske Bank first quarter profits jump on increased transaction and interest rates

It made £48.9 million in the first three months of 2023

Birmingham Post

NatWest first-quarter profits jump by 50% after interest rate rises

Banking group says some customers have had to dip into savings because of rising prices

The Guardian - UK

Rise in mortage lending lifts NatWest profits

Shares fall as publically owned lender leaves annual profit guidance on hold

Evening Standard

NatWest sees profit surge 50% on last year and beat predictions

Lender has not seen a rise in customers falling into arrears despite cost of living crisis

Birmingham Post

Aldermore agrees deal to move London HQ to Broadgate Tower

Aldermore Bank has inked a deal for a larger London headquarters in the City, in a move set to encourage more staff into the office post-pandemic.

Evening Standard

The Co-operative Bank 'confident' for the future after possible sale or IPO reports

Operating expenditure increased by 20% to £101.5m due to an increase in staff costs following cost-of-living payments as well as salary rises and higher recruitment

Birmingham Post

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Insider UK

NatWest profit surge beats expectations

Operating profits before tax came in 50% higher than the figure recorded this time last year

Insider UK

Scottish business confidence dips, but remains upbeat

Business confidence in Scotland fell seven points during April to 31%

The Independent UK

Fed's review of role in Silicon Valley Bank collapse due out

The Federal Reserve is scheduled Friday to release a highly-anticipated review of its supervision of Silicon Valley Bank, the go-to bank for venture capital firms and technology start-ups that failed spectacularly in March, setting off a crisis of confidence for the banking industry

Bangkok Post

SCB aims to use joint venture for growth

Siam Commercial Bank (SCB) plans to expand its wealth management customer base by 12% per year for the next 3-5 years, hoping to raise its fee-based income.

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ABC News

Paul Keating warns treasurer not to remove government's power to override RBA decisions

Former prime minister Paul Keating says it would be an error for the Parliament to remove a power that allows the government to overrule the Reserve Bank's actions.

Insider UK

Scottish National Investment Bank names new chief executive

The search for a new leader has taken more than a year

The Guardian - UK

UK economy not ‘out of the woods’, says Barclays boss after bank’s record profit

Venkatakrishnan says bank remains cautious about months ahead despite first-quarter profit of £2.6bn

Daily Mirror

Nationwide, Barclays, HSBC, Santander: Best and worst banks based on switches this year

The latest current account switch data is in from Pay.UK - but where are people switching to, and which banks are being ditched? See the full list below and tell us what you think

Evening Standard

Impairments top £500 million at Barclays as consumers turn to credit cards to cover essentials

Credit impairments at Barclays have almost quadrupled to top £500 million in fresh signs more and more consumers are getting into deeper credit card debt amid cost-of-living pressures.

Caixin Global

Shanghai Composite Index Rose 0.67% on Thursday

Shenzhen Component Index closed up 0.28%

France 24

First Republic Bank stock plunges nearly 60% in a week

First Republic Bank's stock continued to sink Wednesday, an ongoing rout that has erased 60% of its value just this week on concerns about the bank's financial health in the wake of two other bank collapses.

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