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The Latest Breaking News on Financial Services

US banks are failing, and the authorities seem unlikely to intervene

Regional lenders such as PacWest and Western Alliance are not seen as systemically important and more consolidation is ahead

The Guardian - UK

The regional banking crisis is expanding

Reports have both PacWest and Western Alliance seeking buyers.

Axios

Anxiety knocks regional banks, shares slump

Anxiety about a rush of withdrawals by customers of regional banks continues to roil the financial sector as PacWest Bancorp attempted to calm investors investors overnight with its shares plunged 45%

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Virgin, Bank of Scotland and TSB Glasgow bank branches to shut - full list

Some branches in Scotland, including Glasgow, will close their doors this year with many moving services online. Here is the full list of branches affected.

Glasgow Live

Trading halted in shares of two more US lenders as fears of banking crisis mount

Regulators step in after PacWest and Western Alliance shares plunge as investors fear repeat of First Republic, SVB and Signature failures

The Guardian - UK

“Barclays funds climate chaos – people are dying right now"

Things turned heated at Barclays’ annual meeting

Bristol Post

Full list of 76 bank branches closing this month - including HSBC, TSB, Halifax, Barclays and NatWest

Banks are opting to shut down large chunks of their branches as they begin to move focus towards online banking

Manchester Evening News

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Cost of living Ireland: Bank of Ireland ease financial pressures with €1 million charity donation

The bank will assist five Dublin charities, including Hill Street Family Resource Centre and Friends of the Elderly, to help groups most at risk as living costs pile up

Dublin Live

The U.S. has more banks than anywhere on Earth. That shapes the economy in many ways

The U.S. has more than 4,500 banks — more banks than any other country. That huge number of lenders has shaped the economy in countless ways, but it also can pose risks.

WEKU

First Republic: will UK banks survive unscathed?

The Treasury has sought to reassure the public that the British banking system is safe after First Republic became the third major US bank to fail in two months.

The Week

Virgin Money profits fall amid higher provisions for customer arrears

The bank played down cost of living fears and said its lending books showed no signs of stress

Birmingham Post

Which banks have passed on the May RBA rate rise to mortgage borrowers? NAB kicks it off, as ANZ follows

Here is a breakdown of which major banks have responded to the RBA's decision, and which ones we're still waiting on.

ABC News

DES Ministry, 16 banks fend off scams

The Digital Economy and Society (DES) Ministry is joining forces with 16 banks to notify people about online scams and fake news on their banking apps in an effort to raise public awareness about online financial fraud, preventing more scamming victims.

Bangkok Post

Key Asian bourses dip amid US concerns

Major Asian stock exchanges sank on Wednesday on renewed investor concerns that a softening US economy and troubles with that country's regional lenders could slow Asia's growth.

Bangkok Post

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The Independent UK

Ex-Mastercard CEO Ajay Banga confirmed as World Bank leader

Former Mastercard CEO Ajay Banga, an Indian army officer’s son with decades of corporate experience, has been confirmed to lead the World Bank for a five-year term that starts next month

StockNews.com

Get Ready for Summer by Investing in These 2 Leisure Stocks

Consumer spending held steady in March despite the banking crisis. In light of improved consumer and business sentiments, investing in sound leisure stocks, Endeavor Group Holdings (EDR) and Cedar Fair (FUN), could be wise. Read on….

The Guardian - UK

Climate protesters rework Spice Girls song to disrupt Barclays AGM

Lyrics of Stop changed to ‘stop right now, no more oil and gas’ because of bank’s fossil fuel funding

Axios

How the regional banking crisis is hitting the economy

Lending is almost certain to tighten, creating a new headwind for an otherwise decent economy.

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news in one place.

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The Independent UK

How older people can learn online banking skills – as report finds many over-65s don’t manage money online

From digital training sessions to help from relatives, there are a number of options for older people who want to grow their online banking skills.

Edinburgh Live

Edinburgh and East Lothian branches among 13 bank closures across Scotland

Both the Bank of Scotland and the Royal Bank of Scotland are set to close branches in the capital or East Lothian. Around 13 banks will close physical stores in Scotland this summer.

The Times of India

Textile tycoon Neeraj Saluja gets bail in Rs 1,530 crore bank fraud case

LUDHIANA: Textile tycoon Neeraj Saluja has been granted bail by the Punjab and Haryana high court on Wednesday.\

Evening Standard

Lloyds Banking Group beats profit forecasts as lenders now look toward BOE rate hike

The UK’s biggest single mortgage lender is the latest bank to beat profit forecasts

The Guardian - UK

Lloyds profits jump by 46% amid higher interest rate charges

But bank expects margins to drop because of tougher competition for mortgage and savings customers

Insider UK

Lloyds beats forecasts with 46% profit rise after interest rates boost

Banking group expects the economy to fall by 0.6% in 2023 overall, slipping into a 'mild recession' over the first three quarters

Birmingham Post

Business confidence amongst Welsh firms shows rise

Companies in Wales reported higher confidence in their own business prospects

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