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Here, FT journalists explain the potential of these new developments in the retail and institutional financial services industry Supported by Infosys
...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Such groups might have the benefit of a trailing wind from policymakers: Labour aims to double the size of the UK’s co-operative and mutual financial services sector, according to its financial services...
...The bank has increased its deposit base by 15 per cent to £3.4bn in the period and has a total loan balance of £2.7bn....
...Griggs said that having tax under one umbrella reflected how clients bought services from PwC....
...financial information and maintain trust in banking services,” he predicts....
...Why not, some mused, force banks to mark everything to market and be done with it? Seductive as it sounds, this may not be the best solution. Banks are in the business of maturity “transformation”....
...Large regional banks such as Zions Bank and KeyBank had an average sensitivity of 12 per cent in the second quarter of 2022....
...Private equity group Carlyle and Abu Dhabi investment group IMI have agreed a fresh debt funding package for the Barclay family’s Very Group, the Liverpool-based retail and financial services group....
...Following the UK-EU Memorandum of Understanding on regulatory co-operation in financial services last June, the decision on clearing is a welcome sign of pragmatism and improving relations between London...
...Spending on digital services is particularly buoyant in financial services, experts say, due in part to rising interest rates boosting margins for banks — creating surplus cash for them to spend on IT....
...Crucially, Poste Italiane kept its post office network and financial services, unlike Royal Mail. Chief executive, and former JPMorgan banker, Matteo Del Fante has used both to good effect....
...Old rules are revised slowly — Reg Q was introduced in 1933 — disadvantaging banks. Third, financial product innovation is a vital enabler....
...Some banks are unable to quantify their exposure to private equity, the Bank of England has found, in the latest warning that the $8tn industry could threaten the wider financial system....
...In a letter to the committee, Abby Thomas, chief executive of the Financial Ombudsman Service, said the increase in complaint volumes “could be due to changes in banks’ processes and behaviours, but is also...
...McKernan told the Financial Times he wants to monitor compliance with those “passivity letters” by asset managers....
...UK chancellor Jeremy Hunt has signed a UK-Swiss financial services pact, calling it “a global first that builds on the UK and Switzerland’s strengths as two of the world’s largest financial centres”....
...Internationally, few financial regulators name and shame. At a time when London is struggling to attract listings and business, the FCA will need to justify why the UK should be an outlier here....
...card, internet and mobile banking services....
...Medical and finance professionals say those in their late teens and early 20s are conscious of it and are keen to raise it with their employers and the financial firms whose services they use....
...He said that the financial sector was “a pivotal driver of growth and prosperity in Switzerland”....
...Inflation in the eurozone’s two largest economies has fallen to its lowest level since mid-2021, but services prices remain stubbornly strong, presenting the European Central Bank with a conundrum over when...
...People with direct knowledge of the ruling told the Financial Times earlier this week that the watchdog concluded that the audits were “at the very least” negligent, and in some cases grossly negligent,...
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...As for takeouts, 22 of the 27 bids recorded this year were FTSE Small Cap and AIM companies. Many were in sectors such as technology and health that the government hopes to promote....
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