Business
HSBC to pull out of Australian retail banking market
The London-headquartered HSBC is closing all Australian branches over the next 18 months after selling its local mortgage and personal loan portfolio to the global asset giant Blackstone.
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Lloyds Bank to cut £2bn in costs as part of AI-powered strategy
Lloyds Banking Group will cut another £2bn of costs as part of a four-year plan under which its chief executive will use new tech and AI to drive growth.
Business
UK savings deals: the heat is on as banks offer up to 8%
You can currently get instant- and easy-access accounts that pay up to 5% interest, and fixed-rate savings bonds that pay almost that much. Meanwhile, those looking for a regular savings account can now get up to 8%.
Business
Democratic lawmakers propose bank funded by China tariffs to boost US manufacturing
Democrats in the US Congress have laid out plans for what they say would be the “boldest” bid to revitalize the country’s industrial heartlands since the second world war – using revenue raised by tariffs on China.
Business
Bank of England to stop accepting bonds linked to coal for key loans
Campaigners hope move will force commercial banks to rethink holding assets linked to the fossil fuel
Business
No deposit, no problem: the new 100% mortgages for first-time buyers
For many first-time buyers, getting their foot on the property ladder can feel like an impossible dream. However, the good news is that there are a growing number of mortgage deals that require only a small deposit, or …
Business
Bank of England handed powers to regulate key tech firms including Amazon and Google
The Bank of England has been handed powers to regulate important tech firms including Amazon and Google from next week, amid fears that system failures could threaten financial stability and harm consumers.
Business
The Guardian view on Nigel Farage’s crypto cash: accountability is not a conspiracy | Editorial
Twice now, the Guardian’s questions about Reform UK’s finances appear to have been pre-empted by stories friendly to the party. This paper revealed in April that Nigel Farage received £5m from the crypto billionaire Chr…
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Revealed: Farage’s £5m gift reported to UK crime agency over money laundering concerns
Exclusive: Latest Guardian revelation about gift from cryptocurrency tycoon comes as Reform UK leader forces byelection
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Bank of England plans to ease capital rules despite AI stability fears
Central bank’s financial policy committee members voice concern on trimming big lenders’ financial buffers
Business
Alan Greenspan obituary
American economist and long-serving head of the Federal Reserve widely praised for the US boom whose reputation was re-evaluated in the wake of the 2008 crash
Business
Barclays to buy GoHenry kids’ debit card and money app
Barclays is to buy an app designed to help children understand and manage their money, as it targets young people in affluent families.
Business
World’s largest banks pledged $906bn to fossil fuel companies in ‘unfathomable’ increase in 2025, report finds
JPMorgan Chase leads 65 banks making decisions incompatible with restraining rising temperatures, researchers say
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Personal loans booming as cost of living drives Australians to borrow record amounts
National debt helpline calls have increased alongside growth in new personal loans, which charged an average 9% interest in March
Business
Tony Blair is strong on diagnosis, deluded on prescription: Britain’s ills can’t be fixed by him | Larry Elliott
The former PM’s essay rightly calls for a coherent economic plan, but then sets too much store by AI – and a worldview stuck in the past
Business
NS&I failures pile on the agony for bereaved families chasing missing premium bonds
“It has been more than a year of hell,” says Kate Constable about the time it took to claim £46,000 in premium bonds belonging to her late mother.
Business
Metro Bank investors urged to reject executive pay report
Bonus scheme that could hand CEO a £60m windfall is ‘significantly out of line’ with market, says proxy adviser
Business
Learning from a Bad Trade - The Big Picture - The Big Picture
A Bad Bear Stearns Trade Can Teach Investors a Lot It doesn’t have to take a decade to learn some valuable lessons. Bloomberg, January 6, 2020
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Industry viewpoint : Regulation & data : MTS - fi-desk.com
How well prepared are institutions for the impending requirements of SFTR? Most repo market participants are aware of the new European Securities Financing Transactions Regulation (SFTR), but not everyone is clear on ex…
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Andrea Leung - Markets Media
Steve Leung Design Group (SLD), the interior design practice established by the eponymous architect and designer, Steve Leung, is venturing into the European market through a collaboration with Italian designer Andrea B…