Banking
Banking
Britain’s Watchdog Fines Metro Bank $20 Million for Control Failings
Banking
Europe’s Banks Brace for Tougher Competition Under Trump 2.0
Banking
Spain’s Former Central Bank Chief to Lead Bank for International Settlements
Banking
Swiss National Bank Not Locked Into Rate Cuts, Vice Chairman Says
Europe’s Banks Brace for Tougher Competition Under Trump 2.0
Date: November 11, 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...
No Reason Not to Cut Rates in Dec as of Now, ECB’s Holzmann Tells Paper
Date: November 11, 2024
VIENNA (Reuters) – As things currently stand, there is no reason for the European Central Bank not to cut interest rates in December but the decision will be based on the data available then, ECB policymaker Robert Holzmann said in remarks published on Sunday. Last month the ECB cut interest rates for the third time...
Bank of England Cuts Rates but Sees Higher Inflation After Reeves’s Budget
Date: November 8, 2024
By Andy Bruce, Suban Abdulla, David Milliken LONDON (Reuters) -The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual as it predicted the British government’s first budget would lead to higher inflation and economic growth. The Monetary Policy Committee voted...
Greece’s Alpha Bank Posts Higher 9-month Profit on Lower Provisions, Strong Income
Date: November 8, 2024
ATHENS (Reuters) -Alpha Bank, Greece’s fourth-largest lender by market value, reported higher net earnings in the January-September period compared to the same period in 2023, on lower provisions and strong interest and fee income. The company, in which Italian bank UniCredit holds a 9% stake, reported normalised net earnings of 665.8 million euros ($717.93 million)...
Barclays Says Bank of England to Hold Rates in December Meeting
Date: November 8, 2024
(Reuters) – Barclays expects the Bank of England to hold interest rates at its December meeting, revising its prior forecast of a cut, citing the central bank’s cautious tone that emphasized uncertainty and gradual policy moves. The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future...
The Rising Threat of Scams: As New Regulation Comes Into Force, Can Banks Afford Not to Protect Consumers?
Date: November 8, 2024
Tom Gaffney, cybersecurity expert at F-Secure, shares thoughts on what financial organisations can do as UK banks must refund fraud victims up to £85,000 under new rules. This month, in a world first, bank refunds for fraud became mandatory after the Payment Systems Regulator (PSR) reduced the maximum compensation from a previous proposal of £415,000....