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The Latest Breaking News on Financial Services

New India-born World Bank chief: Real change or rebranding?

The incoming president of the World Bank was born in India and had his early success in business there

The Independent UK

Brazil's Lula in Shanghai on visit to boost ties with China

Brazilian President Luiz Inácio Lula da Silva is in the Chinese financial hub of Shanghai as he looks to boost ties with his country's biggest trade partner

The Independent UK

Australia's best bank is here in the Hunter, according to Forbes

"Winning such a prestigious award, one with global recognition, is a feather in our cap of which we are immensely proud."

Newcastle Herald

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Andrew Bailey plays down bank crisis, paving way for more interest rate rises

Speculation of further 0.25-point increase in rates after speech by Bank of England governor to IMF

The Guardian - UK

Kingswood Barclays branch to close doors for good in July

14 others will be permanently closed later on this year

Bristol Post

Barclays bank closing more Northern Ireland branches

Two NI branches will close in July, Barclays bank has announced

Belfast Live

Top US banks to reveal $521 billion deposit drop, most in decade

The largest U.S. banks are about to reveal how they fared as customer deposits came under siege in the first quarter.

Tribune News Service

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Credit Suisse rescue package rejected by Swiss parliament

Switzerland's parliament rejected on Wednesday the government's 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse's merger with UBS, leaving the fallen bank's hastily arranged rescue without a largely symbolic parliamentary blessing.

Reuters

UAE Central Bank's Foreign Assets Exceed $136b

The total foreign assets of the UAE Central Bank exceeded $136.1 billion at the end of January for the first time in its history. The data showed that the Central Bank's foreign assets increased monthly by 1.34 percent, from $134.4 billion last December to $136.2 billion at the end of…

Asharq Al-Awsat

IMF warns deeper financial turmoil would hit growth

The International Monetary Fund has trimmed its 2023 global growth outlook slightly as higher interest rates cool activity.

The New Daily

Banks hesitate in rush to cashless era

The banking industry's push to discourage the use of cash led some to believe it was a good idea to charge fees for cash transactions and suspend cardless money withdrawals at ATMs.

Bangkok Post

First Republic Bank Reports Earnings This Month -- Sell While You Can

Despite benefiting from the vote of confidence from 11 large banks, First Republic Bank (FRC) is skating on thin ice. Hence, it could be wise for investors to keep their distance, as its upcoming earnings release might trigger another meltdown in the stock. Read on….

StockNews.com

Barclays to shut three North East branches as bank announces another 15 closures this year - see full list

Two branches in Northumberland are among those earmarked for closure this summer

Chronicle Live

Former Glasgow bank set to become restaurant despite concerns over local impact

Previous bids to convert the former TSB have been rejected over concerns about an increase in noise and activity, but the latest attempt has been approved after an appeal from the developer.

Glasgow Live

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StockNews.com

3 Stocks Investors Should Avoid Consuming

Still-elevated inflation and rising interest rates have resulted in a significant pullback in consumer spending. Amid a challenging economic backdrop, it could be wise to avoid fundamentally weak consumer goods stocks PLBY Group (PLBY), Vinco Ventures (BBIG), and AquaBounty Technologies (AQB). Read more….

Daily Mirror

Barclays shutting another 15 bank branches this year - see list of latest closures

The latest list of closures - which will all happen in July - comes on top of the 69 branches that had already been earmarked to shut, meaning 84 Barclays banks will go this year

Nottingham Post

Hope for 'something different' or chain restaurant at former bank in Hyson Green

The former Lloyds Bank branch on Gregory Boulevard has been listed for long-term lease after it was closed in September 2022.

Daily Record

RBS, NatWest and First Direct offer people up to £200 in free cash to switch bank accounts

Nearly one million people used the Current Account Switch Service in 2022.

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news in one place.

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The Independent UK

Swiss lawmakers pick apart Credit Suisse woes ahead of deal

Switzerland’s parliament is opening a special session to scrutinize the state-imposed takeover of Swiss bank Credit Suisse by rival UBS

Al Jazeera

G20 finance heads face reform calls from Global South

Finance ministers and central bank governors are meeting at the IMF to discuss challenges facing global economy.

ABC News

Bank South Pacific customers in PNG told to repay money after glitch allows accounts to be overdrawn over Easter

A "technical issue" has allowed some customers with Papua New Guinea's largest bank to overdraw money from their accounts, while others have watched their bank balances drop.

Wales Online

One in three Britons still prefer to do banking in person, survey finds

People would rather visit a bank branch to seek human advice as cost pressures mount, a survey found

The Independent UK

Third of Britons still prefer to do banking in person, survey finds

People would rather visit a bank branch to seek human advice as cost pressures mount, a survey found.

Asharq Al-Awsat

US Treasury: World Bank Could Lend $50b More Over Decade With Reform

The World Bank's ongoing reform could result in a $50 billion lending boost over the next decade, US Treasury Secretary Janet Yellen told AFP ahead of stakeholders' meetings next week where key changes are expected to be announced. Central bankers, finance ministers and participants from more than 180 member countries…

Bangkok Post

Credit Suisse failure 'would have crashed Swiss economy'

GENEVA: Switzerland’s finance minister says the country’s economy probably would have collapsed had Credit Suisse gone bankrupt.

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