Major central banks have likely come to the end of what has been the most aggressive tightening cycle in decades, but some are pushing back against market expectations for rate cuts soon.
Italian police said on Thursday they had uncovered a tax fraud carried out by 85 suspects involving 1.7 billion euros ($1.9 billion) in false invoices, with the money laundered through a system of so-called Chinese shadow banks.
India’s SBI Cards and Payment Services reported a smaller-than-expected third-quarter profit on Thursday, as higher finance costs outweighed a rise in consumer spending.
Indian non-banking financial company Shriram Finance reported a smaller-than-expected 2.3% rise in profit on Thursday, hurt by a rise in finance costs and provisions for bad loans.
Britain’s biggest domestic bank Lloyds is cutting around 1,600 roles across its branch network, a spokesperson for the lender said on Thursday, as part of an overhaul to provide more services online.
Blackstone Inc reported a 4% rise in its fourth-quarter distributable earnings on Thursday, as the world’s largest private equity firm cashed out on more of its assets across real estate, credit, and hedge funds.
A failure at payment companies to properly safeguard customer cash is a “constant theme” and tougher standards will be proposed, Britain’s Financial Conduct Authority (FCA) said on Thursday.
Hungary’s central bank on Thursday criticised a government proposal to replace interbank rates with Treasury bill yields as the main, much lower reference rate for loans as “misguided”, saying it would reduce the scope for policy manoeuvre.
Deutsche Bank Chief Executive Officer Christian Sewing was reelected on Thursday to a second term as head of the Association of German Banks, the lobby said.
The Bank of England said on Thursday that its rules requiring banks to “ring fence” their retail arms with bespoke buffers of capital have worked satisfactorily with no major overhaul needed.
