The Bank of England on Tuesday tweaked its estimates for the overall losses made by its quantitative easing bond purchase programme that will fully crystallise over the next 10 years.
Firms offering payment services in the UK must work much harder to meet new ‘operational resilience’ standards by March 2025 for responding to disruptions such as cyber attacks, glitches during an IT changeover or extreme weather hitting a server centre, the Bank of England said on Tuesday.
BGC Group’s first-quarter profit nearly doubled, it said on Tuesday, as investors looking to navigate the uncertainty around monetary policy pushed trading volumes higher in the brokerage’s rates and energy businesses.
PayPal raised its full-year adjusted profit forecast on Tuesday, as the payments giant benefited from robust consumer spending, while measures to cut costs improved operating margins in the first quarter.
HSBC is preparing to welcome its third CEO in less than eight years after veteran banker Noel Quinn, 62, retires from running Europe’s biggest bank. While HSBC said on Tuesday it will consider both internal and external candidates, the Asia-focused lender has typically looked internally to fill its leadership positions.
Global banking regulators on Tuesday proposed stricter standards for banks when assessing risks from customers to avoid the mismanagement highlighted by the collapse of Archegos, and episodes of volatility in commodities and Britain’s government bond market.
HSBC Chief Executive Noel Quinn said on Tuesday that he plans to step down, marking the surprise departure of a hard-nosed leader who has overseen a raft of asset sales, guided the lender to record profit and lifted its share price.
Goldman Sachs is in talks to transfer its General Motors credit card program to Barclays , the Wall Street Journal reported on Monday, citing people familiar with the matter.
British investment platform Hargreaves Lansdown said it has seen good momentum in April after adding 1.6 billion pounds ($2 billion) in net new business in the previous quarter, sending its shares to a nine-month high on Tuesday.
Metro Bank posted a 4% increase in total deposits for the first quarter on Tuesday, thanks to the campaign it launched late last year to make up for significant withdrawals by customers amid reports on its financial health.
