UK
Weekly Global News Wrap: Stablecoins threaten $500b in deposits; Italy funds bank rescue
Weekly Global News Wrap: Stablecoins threaten $500b in deposits; Italy funds bank rescue
And about 100 jobs in Metro Bank are at risk.
Barclays integrates Ant Int’l model to FX hedging platform
Ant Interntional has completed the first batch of intra-group FX transactions with Barclays.
Eight financial institutions defaulted in 2024: S&P
Majority are NBFIs, and most are located in the Americas.
OCBC to finance $10.9b of investments to UK growth sectors
These include energy, infrastructure, and real estate.
Standard Chartered’s profit up 17% to $4.04b in 2024
Its earnings per share is 141.3 cents.
JCB expands card acceptance in UK
Over 110,000 UK-based merchants in the hospitality sector can now accept JCB cards.
Standard Chartered invests in financial tech platform United Fintech
The bank has been granted board observer rights and a rotational board seat.
Citi ceasing operations in Haiti
The bank said that it will voluntarily surrender its banking license.
Japan’s MUFG invests $5.9m in Hitachi to launch 1,000 e-buses in the UK
The two will make business models enabling operators to clinch EV funding.
StanChart’s SC Ventures invests in sharia fintech Algbra
The amount of investment is undisclosed.
HSBC profit before tax is $30.3b in 2023
But the bank also had a $3b impairment charge related to the Bank of Communications.
Weekly Global News Wrap: UBS shoulders US$388m payment over CS’s Archegos ties; UK to meet with banks on account closures
US authorities tell banks to fix inaccurate financial statements.
Japan’s SMBC Group launches UK commercial banking subsidiary
It’s head office is located at 100 Liverpool Street, London.
Weekly Global News Wrap: Klarna, Block execs calls UK’s planned BNPL regulations “outdated”; Citi’s global FX head to leave
And fintech Boost looks to raise $50m to $100m in possible new funding round.
Weekly Global News Wrap: Grupo Mexico clinches $5b to buy Citi assets; Brazilian banks may set aside $890m for Americanas losses
And the UK lays out plans to regulate cryptocurrency.
Weekly Global News Wrap: BNP Paribas vows to slash oil lending; Bank of America employees awarded restricted stock
And Barclays names ex-Credit Suisse dealmaker as head of investment banking.
Weekly Global News Wrap: Credit Suisse to cut 10% OF EU investment bankers; BOE skeptical over digital pound
And Spain’s BBVA says it will exceed 2021 dividend.
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