Activists disrupted Lloyds Banking Group’s annual shareholder meeting in Glasgow on Thursday, protesting against the bank’s alleged provision of financial services to defence firms linked to violence in the Middle East.
The digitalisation and entry of Big Tech into finance create new vulnerabilities and amplify existing risks in the banking system that may need new rules to mitigate, global banking regulators said in a report on Thursday.
Big investors in Deutsche Bank vented their frustration at Germany’s top lender on Thursday, describing problems at its Postbank business as a trust-damaging embarrassment.
India’s central bank has cautioned non-bank finance companies (NBFCs) against becoming over-reliant on algorithm-based credit models, while also urging them to avoid overlending in certain segments.
Reinsurance company Swiss Re said on Thursday that it would exit its loss-making digital white-label business after a strategic review and could incur restructuring costs in the coming quarters.
Japan’s three biggest banks forecast record income in the coming year on Wednesday, signalling increased optimism about an economy that has only just exited from years of negative interest rates.
Global corporate debt defaults more than doubled in April from March to their highest monthly tally since October 2020, according to a report from S&P Global Ratings.
The International Monetary Fund on Wednesday said its executive board has approved members to use their Special Drawing Rights (SDRs), or IMF reserve assets, to acquire so called hybrid capital bonds issued by multilateral development banks.
The U.S. Treasury has warned Austria’s Raiffeisen Bank International (RBI) that its access to the U.S. financial system could be restricted because of its Russian dealings, according to a person who has seen a letter detailing the threat.
