Spain’s second largest bank BBVA is planning to extend its digital banking services to Germany as it seeks to boost customer numbers and mirror its success in Italy, the bank’s country manager in Spain said on Wednesday.
A shift in chunks of euro derivatives clearing from London to European Union countries is now inevitable and banks should get ready, industry officials were told on Wednesday, but others warned the EU intervention would backfire.
Britain’s financial watchdog will wait until after next month’s national election to publish its review into how banks conduct mandatory extra checks on “politically exposed” customers and their families for money laundering risks.
Ontario Teachers’ Pension Plan (OTPP), Canada’s third largest pension fund, said it has laid off four dealmakers in Hong Kong on its Asia venture and growth equity investment team, which will now focus on India.
Hundreds of thousands of bank employees in Europe’s largest economy are fighting for pay increases of up to 16% to cope with rising living costs and unions are warning of possible strikes.
Barclays said on Tuesday it will cut about 100 million pounds ($127 million) in costs from its UK corporate banking business in total by 2026, under broader plans by the British bank to ramp up lending at the under-achieving division.
The rate of Americans who are uninsured will rise to 8.9% over the next decade from 7.7% in 2024, driven by rising immigration and reduced eligibility for 19-to-24 year-olds following federal government policy changes, according to a Congressional Budget Office report released on Tuesday.
UBS’s CEO on Tuesday hit out at suggestions Switzerland should set tougher regulations for the bank after its 2023 takeover of Credit Suisse, saying “fear” and “populist” critics were doing down the business and the country’s own prospects.
Commodity trader Trafigura sent a letter last week to current and former employees proposing share clawbacks for breaches of confidentiality and its code of conduct, two sources with knowledge of the matter told Reuters.
