Lloyd’s of London warns major cyber attack on payments could cost world $3.5 trillion October 18, 2023 A major cyber attack on a financial services payments system could cost trillions, Lloyd's has found, as demand for cyber insurance booms.
Morgan Stanley profit dips as struggles with investment banking slowdown continues October 18, 2023 Morgan Stanley reported a fall in profit as an increase in bad loan provisions and a higher wage bill offset a strong performance from the bank's wealth management arm.
HSBC cracks down on texting as regulators probe unauthorised communications October 18, 2023 The texting ban will reportedly apply across the firm, with HSBC already having blocked staff from using WhatsApp on work phones.
Morgan Stanley locked in secret London court battle to seize Russian oil firm October 18, 2023 Morgan Stanley is locked in a secret London court battle as part of an attempt to seize ownership of an oil firm in southern Russia on behalf of a group of Russian lenders, City A.M. has learned.
Goldman profit down over a third as boss David Solomon hopes for ‘recovery’ in dealmaking October 17, 2023 Investment banking fees climbed one per cent thanks to an improvement in revenue from debt and equity underwriting.
Goldman boss David Solomon retires high-profile DJ persona October 17, 2023 The Goldman boss, 61, decided to stop DJing a year ago and has not appeared at a notable event since Lollapalooza in Chicago last July.
Vanquis share price rises as lender returns to profitability and flags job cuts October 17, 2023 Shares in Vanquis Banking Group soared on Tuesday morning after the bank confirmed that it returned to profit in the third quarter.
New Basel banking rules will ‘advance competitiveness,’ PRA boss argues October 16, 2023 Sam Woods, chief executive of the main banking watchdog, argued that the competitiveness of the UK financial system will be advanced through the latest round of Basel reforms.
Manx Financial Group shares jump after subsidiary secures UK banking licence October 16, 2023 Manx Financial Group shares rose on Monday after the financial services company announced that its banking subsidiary Conister Bank received a licence to take deposits in the UK. The decision marks the first time an Isle of Man-based bank has been granted a UK branch deposit-taking licence. Manx said the bank can now accept deposits [...]
US banks Wells Fargo, Citi and JP Morgan continue to benefit from higher interest rates October 13, 2023 In results covering the three months to September, Wells Fargo, Citi and JP Morgan reported that net interest income - the difference between what banks pay out and earn on interest payments - climbed ever higher.