Banking Headlines

  • Why 3D Secure fell over during Black Friday last year

    Many online shoppers were unable to complete orders during Black Friday in 2016.

  • HSBC closes Marine Le Pen bank account

    French far-right leader says she and Front National are victims of ‘banking fatwa’ after Société Générale closes party’s accounts Marine Le Pen, the leader of France’s Front National, has claimed that she and her party are victims of a “banking fatwa” after HSBC closed a bank account she had had for 25 years. The move by Britain’s biggest bank comes amid heightened scrutiny of political accounts and the day after Société Générale, France’s second-largest bank, asked the far-right party to close...

    the Guardian
  • 25 Wall Street movies to watch over Thanksgiving

    The market is closed. The world is at a standstill. It's Thanksgiving Day, and you've probably just stuffed your face with turkey and pumpkin pie. That doesn't mean you can't get a little Wall Street in your day, though. Why not kick back on the couch and watch one of these Wall Street movies? You'll definitely enjoy yourself, and you might even learn something."It's A Wonderful Life" (1946) In a sentence: It's a heartwarming classic that will never get old. Plot: A guardian angel shows...

    Business Insider
  • French bank to close far-right Front National's accounts

    Marine Le Pen’s party claims ‘persecution’ after Société Générale tells FN to take its business elsewhere after 30 years France’s second largest bank has asked the Front National to close all its accounts and take its business elsewhere. Société Générale (SocGen) told the far-right party led by Marine Le Pen it wished to end its 30-year “banking relationship” without giving a specific reason. Continue reading...

    the Guardian
  • PayPal to let users invest in the US

    You can now use PayPal to fund an investment account with Acorns.(Visited 140 times, 143 visits today)

  • HSBC hires Google engineering director for retail tech role

    Mike Warriner joining HSBC as chief information officer for retail banking and digital wealth management. Warriner spent 5 years at Google in London as engineering director. His appointment is part of a $2.1 billion digital push at HSBC. LONDON — HSBC has appointed a former Google executive as its new chief information officer for retail banking and digital wealth management. Mike Warriner spent five years at Google in London, serving as engineering director and the European chairman of Google...

    Business Insider
  • It's Frankfurt … and Paris: Goldman Sachs names post-Brexit hubs

    Lloyd Blankfein says cities would be main hubs for handling business no longer possible in London in 2019 with American staff ‘probably preferring Paris’ Goldman Sachs has chosen Frankfurt and Paris as its post-Brexit EU hubs, with its chief executive admitting that many staff might prefer the French capital. Lloyd Blankfein said the German and French cities would be the main centres from which the bank would handle business that can no longer be conducted in London after March 2019. Continue...

    the Guardian
  • Why banks should be afraid of companies like Amazon

    A new survey shows consumers are eager to see technology titans take on finance.

  • Government accused of avoiding revolt as parliamentary sitting week cancelled

    Labor and Greens accuse the government of running scared of a vote on a banking royal commission before byelection return new members The government has canned the penultimate sitting week of the House of Representatives, in a move Labor and the Greens interpret as a bid to prevent embarrassing votes on a bank royal commission and penalty rates. With government members threatening a backbench revolt on an inquiry into the banks and the Coalition missing two MPs with Barnaby Joyce and John...

    the Guardian
  • Coinbase unveils business investment platform

    Coinbase has unveiled its Custody platform.

  • Frankfurt prepares for Brexit: 'It has put extra wind into our sails'

    Recently praised by the chief of Goldman Sachs, Germany’s financial capital is in pole position to gain banking jobs from the UK Peter Ferres, founder-headmaster of Frankfurt’s Metropolitan school, knows a thing or two about London bankers: he used to be one of them. For seven years, Ferres worked as a managing director for Credit Suisse in the City, marshalling billion-dollar stock market flotations of emerging market companies. In 2005, he chucked in his career in the Square Mile: after...

    the Guardian
  • Banks are about to be under way less scrutiny

    Michael Collins, the senior investment officer at PGIM Fixed Income, discuss newly appointed Fed chair Jerome Powell. He highlights the role the Fed plays in regulating the banks, and says that will be one of the major changes under the new regime, with oversight likely being reduced. Join the conversation about this story

    Business Insider
  • Noel Edmonds sues Lloyds Banking Group in £300m case

    Deal or No Deal star Noel Edmonds is to launch a £300million compensation claim against Lloyds Banking Group after mediation efforts collapsed following the HBOS loans scam.

    Mail Online
  • Goldman Sachs boss calls for second Brexit referendum

    New Lloyd Blankfein tweet says lots of CEOs wish for new vote to confirm support is still there for such a ‘monumental and irreversible’ decision The boss of Goldman Sachs has suggested a second EU referendum to confirm there is a consensus in the UK on the “monumental and irreversible” Brexit decision. Lloyd Blankfein, in his latest intervention via Twitter on Brexit, said there was “lots of handwringing” from chief executives about Brexit and the “tough and risky road ahead”. Continue...

    the Guardian
  • Paris battles to cash in from Brexit: 'I think we can gain 10,000 jobs'

    In the first in a series on European cities seeking to profit from the UK’s exit from the EU, we hear how the French capital is tempting firms from London Amid the gleaming glass towers of Paris’s La Défense business district, cranes dot the skyline as drills clatter away on the building sites of future skyscrapers and acres of new office space. Marie-Célie Guillaume proudly walks the route of the guided tours she gives to companies drawing up Brexit contingency plans and considering moving jobs...

    the Guardian
  • World's richest 1% have as much wealth as bottom 50%, study finds

    Credit Suisse report highlights increasing gap between the super-rich and the remainder of the globe’s population The globe’s richest 1% have as much wealth as the bottom 50% – 3.8 billion people – according to a new report highlighting the growing gap between the super-rich and everyone else. The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% – or $140tn (£106tn) – on Tuesday, according to Credit...

    the Guardian
  • This is why psychopaths don't make good investors — despite working well in positions of power

    Some research has shown psychopaths do well in some positions of power due to their personality traits. However, a new study has found being a hedge fund manager isn't one of them. There are some benefits to being a psychopath. As well as their negative traits, such as lack of empathy, psychopaths are often fearless, charismatic, and have a cool head under stress. This is why many psychopaths end up in high power positions, such as CEO of a company. Knowing this, it might be fair to assume...

    Business Insider
  • The Guardian view on money: enough is enough

    Could anyone possible deserve a salary of £217m a year? Denise Coates is probably the most successful entrepreneur you have never heard of. She started a business, Bet365, in a Portakabin in a Stoke car park 17 years ago which is now the second largest bookmaker in Britain and one of the largest online operations in the world. She and her family, who still live in Stoke, are now worth between them perhaps half as much as the annual economic output of everyone else in the town. But is she – is...

    the Guardian
  • HSBC shut down accounts linked to Gupta scandal

    Bank admits concerns for the first time about its potential ties to growing South Africa scandal after closing accounts held by ‘front companies’ HSBC has revealed that it closed accounts linked to South Africa’s Gupta family corruption investigation, admitting for the first time concerns about its potential ties to the snowballing scandal. The bank said it had also flagged up its concerns to the financial crime expert who has overseen its money-laundering controls since it was fined a record...

    the Guardian
  • Terrorism makes it hard for banks to get your money to people in crisis

    Rules intended to thwart terrorist groups that use charities as a front for their activities have also made it harder to move cash when lives are at stake In a crisis, money matters: for water, food and shelter, for people fleeing war or famine, or for medical supplies in dealing with an epidemic. Yet getting money to the frontline when people are suffering is becoming harder. The problem was highlighted when Ebola broke out in west Africa. Standard Chartered, for whom I work, handled cash...

    the Guardian
  • European investment banks' quarterly profits jump 64% as happier times return

    Spike driven by dip in restructuring and legal costs but operating leverage remains an issue.

    International Business Times UK
  • MTN vs Vodacom for Africa’s biggest bank

    MTN Group Ltd. is seeking to challenge rival Vodacom Group Ltd.

  • Business News Roundup, Nov. 2

    Banking Trump signs finance law President Trump on Wednesday signed the repeal of a banking rule that would have allowed consumers to join together to sue their bank or credit card company to resolve financial disputes. The president signed the measure at the White House in private. Journalists were not present to witness the signing. The Republican-led...

  • EXCLUSIVE: Barclays security chief takes leave of absence amid internal probe

    Barclays' security chief Troels Oerting takes leave of absence. Oerting involved in internal investigation over efforts to identify anonymous Barclays whistleblower. Leave of absence said to be unconnected with whistleblowing incident. LONDON – Barclays' security chief Troels Oerting took a leave of absence from the bank on Tuesday, according to two people familiar with the situation. Oerting joined the bank in 2015 from Europol, Europe's law enforcement agency focusing on serious...

    Business Insider