Raiffeisen Bank International abandoned its planned sale of risky debt on Wednesday after a “negative market reaction” following a report claiming that the US put pressure on the Austrian bank
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As part of its decades-long effort to create inflation, the Bank of Japan ended its negative rate policy and raised borrowing costs for first time since 2007. The central bank
A top central banker warned that governments must stop “relentless borrowing” or they risk plunging into a global debt crisis. Agustin Carlstens, the head of the Bank for International Settlements
The Bank of England governor acknowledged that policymakers have a difficult time with inaccurate data. He admitted that he wished that they had accurate numbers on unemployment. Andrew Bailey said
Regulators warned that the number of US problem banks has increased by 18%, while New York Community Bank, led by Steven Mnuchin, former US Treasury Secretary, stabilised itself with a
Nationwide Building Society reached an agreement with Virgin Money to purchase it for £2.9bn. This deal would make Virgin Money a stronger competitor to the UK’s largest banks. After a
Campaigners have urged regulators to stop Capital One’s $35bn acquisition of Discover. They say that the deal is “dangerous and illegal” and should be stopped. A coalition of over a
Monzo, a digital bank, has defied the downward trend in fintech valuations to secure a £4billion price tag for its latest fundraising round. The capitalG investment arm of Alphabet-owner Google,
The banks have raised the alarm about a “rapid increase” in people borrowing mortgages for more than 35 years. Nearly one-fourth of first-time homebuyers are now borrowing to retirement. New
Morgan Stanley’s executive was worried that Mike Ashley would damage the bank’s image, a court heard
Morgan Stanley’s executive who is at the heart of the legal dispute with Mike Ashley said that he didn’t want to do any business with Ashley because he was worried
St James’s Place, Britain’s largest wealth manager, revealed that it would be taking a £426million hit to cover refunds for aggrieved clients. The shares of the FTSE100 company fell by
Barclays agreed to sell credit card debt worth approximately $1.1bn to Blackstone as it stepped up its efforts to remove assets from its balance sheet ahead of new regulations. This
HSBC has notified investors that it will be increasing the bonuses for its senior directors including Noel Quinn as chief executive. This is the latest indication that FTSE 100 firms
The scandal over mis-sold car finance is intensifying after Lloyds Banking Group put aside £450m to cover possible costs and compensation. Lloyds is the first of the major motor finance
HSBC shares fell to their lowest level since 2020, after the bank announced a 80% drop in its quarterly profit. It also took a $3bn hit on the value of
Monzo, the British digital bank, is close to a new funding round that will value it at around £4bn. This would be a sign that investors are confident in the
