HSBC coughs up $25m over Australian scam failures Banking HSBC has agreed to cough up just shy of $25m after admitting to failures in protecting customers in Australia from scammers. The Australian arm of Europe’s biggest lender was investigated by the watchdog over alleged “widespread and systematic failures” to shield its customers targeted by fraudsters. The Australian Securities and Investments Commission (ASIC) said it [...]
HSBC targets $100m in savings with Google Cloud AI tie-up Banking Europe’s biggest lender HSBC has sealed a a tech tie-up with Google where it aims to use AI to scout priority projects that could bank the firm $100m in “efficiency gains”. The FTSE 100 giant is planning to roll out Google Cloud across its operations in a deal that the bank says will allow 200 [...]
Banks woo the wealthy to ace stable income streams Banking As the great and the good prepare to gather at Wimbledon, banks are serving up glamorous treatment to woo the wealthy. In this week’s column Samuel Norman looks at the players looking to call game, set, match. If you want the Centre Court treatment from your bank, you’re going to need to arrive with a [...]
Investors ‘reluctant’ to splash cash on UK banks amid crisis in Number 10 June 15, 2026 UK banks’ stock prices are being slapped with a political risk premium, City analysts have warned, as turmoil in Downing Street threatens to rock the sector. The FTSE 350 bank index has had a choppy start to the year with financial stocks facing a hammering from the Iran war as investors trimmed their equities exposure. [...]
From mild to wild: What impact will AI have on banking jobs? June 10, 2026 Top banking bosses have issued their AI verdict after Standard Chartered stunned the sector with plans for sweeping job cuts last month. In this week’s column Samuel Norman looks at whether a reckoning could be on the horizon. The big-name banker must have known how the conversation would go when he arrived for lunch with [...]
AI will ‘destroy and create jobs,’ says HSBC boss May 20, 2026 The boss of Europe’s largest bank has warned that the growth of AI will both “destroy” and “create” new jobs as the banking industry continues to be reshaped in the face of new technology. Georges Elhedery, chief executive of HSBC, warned that the bank’s staff must avoid “fighting us” as it unveiled its latest AI [...]
Reeves to overhaul ring-fencing regime in a bid to boost the UK economy May 16, 2026 The Treasury is set to unveil a sweeping overhaul of the ring-fencing regime next week, in a bid to protect depositors at the UK’s biggest retail banks, as ministers scramble to boost economic growth. According to reports in Sky News, Chancellor Rachel Reeves has signed off plans aimed at unlocking billions of pounds of additional [...]
Starmer drama: Traders bet against UK as short-selling on pound and banks surges May 14, 2026 Traders are betting against the UK as the political storm in Westminster continues to send jitters through asset markets. The pound has tumbled to a two-week low against the dollar, clinging onto the $1.35 mark on Thursday morning. Meanwhile, figures from IG revealed that short-positioning on the pound-dollar, a bet that the price will further [...]
FTSE 100 banks are facing £2.5bn of headwinds – HSBC and Barclays are in the firing line May 6, 2026 The FTSE 100’s Big Five banks toasted a healthy profit stash in the first-quarter, but, says Samuel Norman, storm clouds are gathering on the horizon for the sector. The London market’s five biggest banks swallowed a bitter cocktail of economic risks in the first three months of the year leaving a bumper cash haul overshadowed [...]
A bank tax hangs in the balance at the local election ballot May 6, 2026 As speculation of a leadership challenge – or sweeping reshuffle – surrounds the forthcoming local elections, in this week’s column Samuel Norman looks at what a change in Chancellor would mean for the banking sector. It is no secret that Thursday’s local elections carry a weight far heavier than the fate of a few neighbourhood [...]