banking
Banking
UK finance firms seek ‘bold’ reforms to counter Wall St ascendancy
Banking
How challenger banks have used a customer-centric model to shake up the banking sector
Banking
Development bank financing pledge gives COP29 summit early boost
Banking
ECB wants banks to better manage private equity risk
BNP lays off a dozen China dealmakers amid fee plunge
Date: November 13, 2024
HONG KONG (Reuters) – France’s BNP Paribas has cut a dozen jobs in mainland China and Hong Kong, a source with knowledge of the matter told Reuters, the latest among global banks to trim headcount amid a slowdown in dealmaking in the Chinese market. The bank last week began notifying the impacted bankers, the majority...
How Brazil’s Pix Payment System is Revolutionizing Financial Inclusion
Date: November 12, 2024
By Ralf Germer, CEO and co-founder, PagBrasil Brazil is currently in the midst of a financial revolution. At the heart of this is the concept of inclusion: the notion that to fully participate in a modern economy, one must be plugged into the banking system. With unbelievable energy and ingenuity, public and private forces in...
Banking digitisation in the US and UK: it’s a marathon, not a sprint
Date: November 12, 2024
By Alex Reddish, Head of Market Expansion & GTM Strategy at Tribe Payments The journey that banking digitisation has taken in both the US and UK has been less of a sprint and more of a marathon, with some twists, turns and potholes to navigate along the way. As the years have rolled on, technology...
SoftBank books $7.7 billion quarterly gain as Vision Fund finds its feet again
Date: November 12, 2024
By Anton Bridge TOKYO (Reuters) -Japan’s SoftBank Group swung to a 1.18 trillion yen ($7.7 billion) net profit in the three months to September, as the tech giant benefited from higher share prices of listed companies in its Vision Fund investment vehicles. The results handsomely beat expectations for a 287 billion yen ($1.87 billion) profit...
Britain’s watchdog fines Metro Bank $20 million for control failings
Date: November 12, 2024
By Lawrence White LONDON (Reuters) -Britain’s Financial Conduct Authority (FCA) has fined Metro Bank 16 million pounds ($20.51 million) for failings in its anti-money laundering controls, in the latest blow to the struggling mid-sized lender. The bank failed to have the right systems and controls to adequately monitor more than 60 million transactions, with avalue...
Europe’s banks brace for tougher competition under Trump 2.0
Date: November 12, 2024
By Sinead Cruise and Tommy Reggiori Wilkes LONDON (Reuters) -European banks face an even tougher task to close an earnings gap on U.S. rivals, as Wall Street awaits a new era of financial deregulation under a second Donald Trump presidency. Lenders in the euro zone and Britain have been hobbled by poor profitability and weak...