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The Latest Breaking News on Financial Services

RBA overhaul to put board members in spotlight

A major overhaul of the Reserve Bank will see a new board for setting interest rates that's more accountable and holds fewer meetings.

The New Daily

Morning Mail: Reserve Bank shake-up, spy warning, ‘carbon capture’ microbe

Review of RBA’s operations recommends establishing a separate rate-setting panel; Asio warns that foreign agents are ‘aggressively selling secrets’

The Guardian - AU

Can the Supreme Court "Develop and Apply Customary International Law"?

Justice Gorsuch raises the question that the majority elides.

Reason

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US Bancorp sees profit growth despite recent banking turmoil

Like many of the biggest banks in the U.S., Minneapolis-based U.S. Bancorp posted solid first-quarter results from recent months despite two high-profile bank failures and related fallout in the banking industry.

Tribune News Service

Bank Earnings Beats Push Fed Rate Hike Bets, But Investors Aren't Buying It

Traders are betting on another round of Fed rate hikes. Investors aren't so convinced.

The Street

Iran sanctions: US high court rejects Turkish bank's immunity claim

Washington (AFP) - The US Supreme Court rejected Wednesday the claim of sovereign immunity by a Turkish bank accused of violating Iran sanctions, in a case that has added tensions to ties between Washington and Ankara.

AFP

Labor to announce in-principle support for RBA review's recommendations, establish two new boards

Treasurer Jim Chalmers is set to release the highly anticipated review into the Reserve Bank of Australia on Thursday and to announce that the government has given in-principle support to all of its recommended changes.

ABC News

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Credit Suisse faulted over probe of Nazi-linked accounts

U.S. lawmakers have accused the embattled Swiss bank Credit Suisse of limiting the scope of an internal investigation into Nazi clients and Nazi-linked accounts

The Independent UK

Porter Davis owes Commonwealth Bank $33m: documents

Documents filed with the corporate watchdog show the Commonwealth Bank of Australia is owed millions by home builder Porter Davis, which collapsed last month.

AAP

Money market funds lure investors with returns

Depositors have started to move their money from bank accounts to money market funds, in part because of ongoing concerns about the banking crisis and also offers of higher returns, according to a recent report from financial services company Morningstar.

Bangkok Post

Loan demand unfazed by rising interest rates

Rising interest rates have not yet affected domestic loan demand despite corporate loans slowing because of the global economic outlook, according to the Bank of Thailand.

Bangkok Post

Top Investors Are Buying These 2 Stocks, but Only 1 Is Buy Worthy

The stock market is expected to stay volatile due to persistent concerns about high inflation, interest rate hikes, and a recession. While top investors have been buying FedEx (FDX) and RumbleON (RMBL), we think only FDX is worth investing. Read on.

StockNews.com

HSBC's largest shareholder outlines bank break-up strategy

Hong Kong (China) (AFP) - HSBC's largest shareholder ramped up pressure on the bank to break up its business on Tuesday, saying it was underperforming and has failed to "address key business model challenges".

AFP

Regional Banks: First Republic Hits New Lows After Deposit Exodus, Considers $100 Billion Asset Sale

Regional banks' Q1 results provide details of the impact from the March panic. First Republic stock dived late Monday on deposit flight.

Investors Business Daily

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Investors Business Daily

Morgan Stanley Tops Estimates Despite Investment Banking Dive; Bank Of America Earnings Leap 18%

Bank earnings continue in earnest as Bank of America, as Goldman Sachs report. Morgan Stanley, U.S. Bancorp beat estimates Wednesday.

The Guardian - UK

CBI needs an outsider to lead it through crisis, says former director

Andrew Sentance says lobby group needs ‘major shake-up’ as insurance brokers’ body quits membership

Birmingham Post

The latest appointments, promotions and jobs news from across Wales

New roles include at Cardiff Airport, MotoNovo, Thrive Women's Aid, Persimmon Homes and Eriez-Europe

Daily Record

HSBC launches new £200 free cash switching offer to people moving their everyday banking services

RBS, NatWest and First Direct are also offering up to £200 to new customers switching banks.

Get all your
news in one place.

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Daily Mirror

HSBC is giving away £200 to new customers - see how to claim the cash

The bank bribe is available when you move your existing current account to an HSBC Advance or Premier bank account - and there is currently no end date for this offer

Caixin Global

Former CDB Henan Branch Head Gets 10 Years in Prison

Fu Xiaodong convicted of bribery after confessing to 22 transactions over 13 years in Henan and Ningxia

Kiplinger

Bank Failures: How Bank Management Got Here and What We’ve Learned

For most people — from casual observers to financial market news junkies — the recent demise of a duo of regional U.S. banks has been a shock. Concerned citizens have wondered aloud.

StockNews.com

Insiders Are Buying These 2 Stocks: Are They Worth It?

The odds of a recession are heightening amid the inflationary pressures, banking crisis, and rate hikes. So, let us check out FedEx (FDX) and RumbleON (RMBL), which have recently seen increasing insider buying, and explore if they are worth investing in. Continue reading to find out.

Birmingham Post

Government vows to transform fintech - and launches nationwide census to support tech businesses and drive open banking

New City minister says 2023 'will be the year of delivery on the next generation of open banking'

Investors Business Daily

Charles Schwab Stock Rises After Earnings Beat, Pauses Buybacks; M&T Rallies, State Street Dives

Charles Schwab stock rose Monday after it beat Q1 earnings estimates. M&T Bank, State Street report results following March bank panic.

AFP

Stocks mixed, dollar firms as rate-hike fears resurface

London (AFP) - Stock markets traded mixed Monday as last week's optimism gave way to renewed worries that central banks may have to wait longer than expected to end their policy of raising interest rates.

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