newsmart – Latest News

theguardian.com | 1 hrs. 25 min. ago

UK to relax post-2008 rules that hold City bosses accountable for wrongdoing

Regulators say removing ‘unnecessary burdens’ will save businesses about £2bn over 10 yearsThe UK is watering down rules introduced in the aftermath of the financial crisis that were designed to hold City bosses accountable for wrongdoing.The plans, put forward by the financial industry’s two top regulators, the Bank of England and the Financial Conduct Authority (FCA), include a reduction in reporting for “lower-level misconduct” and would also free 140,000 managers from extra checks.

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nypost.com | 2 hrs. 8 min. ago

Lefty LA Council blasted over plan to study city-owned bank: ‘We can’t even manage our own damn finances’

The council voted 11-3 Wednesday to spend $460,000 for a feasibility study on creating a city-owned bank.

scmp.com | 2 hrs. 55 min. ago

HSBC RedCoin stablecoin launches for 3.3 million PayMe users in Hong Kong

HSBC will launch its Hong Kong dollar-backed stablecoin in stages from Friday for more than 3.3 million users of its PayMe app, as the bank pushes to bring digital currencies into the city’s mainstream retail and investment markets. HSBC RedCoin, available only through PayMe and the bank’s Hong Kong mobile banking app, would initially support peer-to-peer transfers and peer-to-merchant payments on PayMe, according to head of PayMe Lawrence Li.

Users can activate their HSBC RedCoin wallet, with...

atlanticcouncil.org | 3 hrs. ago

AC Front Page event with Federal Reserve Vice Chair Michelle Bowman covered by American Banker in an article on eSLR reform and Treasury market functioning

Watch the full interview here The post AC Front Page event with Federal Reserve Vice Chair Michelle Bowman covered by American Banker in an article on eSLR reform and Treasury market functioning appeared first on Atlantic Council.

marketwatch.com | 3 hrs. 34 min. ago

The U.S. stock market is fracturing into two camps, and it’s leaving investors with a brutal case of whiplash

The artificial-intelligence trade is on the ropes. CNN’s “Fear & Greed” index is screaming fear, and the yield on the 10-year Treasury note just clinched its biggest daily drop since the collapse of Silicon Valley Bank.

marketwatch.com | 4 hrs. 2 min. ago

Treasury yields log biggest drop since the 2023 banking crisis. Here’s what’s going on.

‘It’s a take-back trade,’ says PGIM’s Tipp. ‘Not an all-out fear of recession type of situation.’

euronews.com | 4 hrs. 23 min. ago

Four Italian activists held during West Bank olive harvest amidst rising settler violence

Italy's Foreign Ministry is seeking information on the detention of several Italian activists in a West Bank village as they accompanied Palestinian olive farmers.

livemint.com | 4 hrs. 50 min. ago

US banks allegedly detect unauthorised AI agents accessing customer accounts: What to know

Banks including Morgan Stanley, JPMorgan Chase, Bank of America, Wells Fargo and Citigroup are taking steps to contain the risks posed by AI agents.

nypost.com | 5 hrs. 28 min. ago

Burned-out San Francisco squatter shack fetches $100k over asking

This market is on fire. A San Francisco home featuring a collapsing roof, charred interior and a notorious squatter that’s called the place home for years sparked a bidding frenzy — and ultimately sold for six figures over its asking price. Coldwell Banker realtor Janice Lee said the Oceanview property was offered as-is, complete with...

ft.com | 5 hrs. 52 min. ago

UK waters down ‘fit and proper’ rules set up to hold bankers to account

Existing regulatory regime was instrumental in actions against former Barclays boss Jes Staley and hedge fund owner Crispin Odey

atlanticcouncil.org | 6 hrs. 28 min. ago

Lipsky quoted in Reuters on Middle East war and high debt levels dominating IMF-World Bank Meetings

Read the full article here The post Lipsky quoted in Reuters on Middle East war and high debt levels dominating IMF-World Bank Meetings appeared first on Atlantic Council.

atlanticcouncil.org | 6 hrs. 28 min. ago

Lipsky quoted in Semafor article on the main themes at the IMF-World Bank Annual Meetings in Bangkok

Read the full article here The post Lipsky quoted in Semafor article on the main themes at the IMF-World Bank Annual Meetings in Bangkok appeared first on Atlantic Council.

atlanticcouncil.org | 6 hrs. 28 min. ago

Event with Megan Greene mentioned in Bloomberg about Bank of England inflation risks

Read the full article here The post Event with Megan Greene mentioned in Bloomberg about Bank of England inflation risks appeared first on Atlantic Council.

smh.com.au | 6 hrs. 55 min. ago

Claim more bank jobs at risk

The Financial Services Union claims more than 200 jobs at Westpac now face the axe.

theguardian.com | 8 hrs. 31 min. ago

Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances

Equating to the loss of 5% of its 93,000 global staff, job cuts come as bank announces jump in quarterly profitsBarclays is cutting 5,000 jobs as part of wider cost-saving plans that its bosses say are being driven by advances in AI.The job cuts will mean losing about 5% of the bank’s 93,000 global staff, with executives confirming they had already cut 1,000 workers since the start of the year.

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ft.com | 8 hrs. 37 min. ago

Turkey cuts interest rates despite $18bn investment funds scandal

Central bank lowers benchmark rate to 36% as inflation eases

dailymail.com | 8 hrs. 39 min. ago

Moment Romanian gang use cruel cash machine trick on pensioners in crime spree that netted £40,000

CCTV footage shows the brazen crooks distracting elderly victims by dropping banknotes on the floor before secretly swapping their bank cards for fake ones.

livemint.com | 9 hrs. 41 min. ago

Cash deposit vs gift tax: Why a ₹10 lakh bank deposit may attract scrutiny while a ₹50 lakh family gift can be tax-free

Cash deposits of ₹10 lakh or more in savings accounts can be reported to the Income Tax Department, while parents can gift ₹50 lakh or more to children tax-free. Know the cash deposit limits, gift tax rules and documents needed to avoid scrutiny.

thehindu.com | 10 hrs. 39 min. ago

RBI imposes restrictions on operations of Puducherry Co-operative Urban Bank

ft.com | 12 hrs. 9 min. ago

[$] Shell and Exxon’s $8bn UK chemicals unit put up for sale

Infineum taps advisers at Bank of America to run a sale of the business as Shell focuses on core oil and gas operations

dailymail.com | 12 hrs. 11 min. ago

M&S has Kate Middleton's entire Victoria Beckham outfit she just stepped out wearing for under £250 - including a very similar suit and merino wool jumper that's on sale

The Princess of Wales has today stepped out looking ultra chic in a head-to-toe Victoria Beckham number royal fans are sure to want to recreate - we've found an M&S lookalike that won't break the bank.

al-monitor.com | 12 hrs. 12 min. ago

Israel frees from custody almost all suspects in two settler attacks, puts them under house arrest

JERUSALEM, Oct 22 (Reuters) - Nine of the 10 suspects arrested in an investigation into militant settler attacks on a US journalist and European diplomats have been released from custody and placed under house arrest, a law firm that represents settlers said. Masked Israeli settlers were filmed last week assaulting Washington Post photojournalist Heidi Levine, who was covering a Palestinian olive harvest in the occupied West Bank.

French, Belgian and Polish diplomats and a French mayor ⁠were attacked by masked settlers in another part of the West Bank on Saturday.

timesofindia.indiatimes.com | 12 hrs. 13 min. ago

He left banking to revive a closed US wool mill; 12 years later, it supplies the military

A Connecticut wool mill that closed in 2013, leaving 85 workers jobless, has been revived by former investment banker Jacob Harrison Long. He bought the 475,000-square-foot factory in 2014 despite having no manufacturing experience. Twelve years later, the mill employs about 50 people and supplies fabric for US military uniforms.

Long now hopes to expand textile manufacturing across New England.

time.com | 12 hrs. 21 min. ago

How TIME and Statista Determined America's Growth Leaders of 2027

—Photo-illustration by TIME; Getty Images/kontekbrothersThe ranking "America’s Growth Leaders 2027" is the result of a comprehensive analysis conducted to identify the top performing publicly listed companies in the US. The analysis is based on three primary dimensions: Growth Performance, Financial Stability and Stock Performance. MethodologyThe first dimension, Growth Performance, was assessed using data from Statista’s revenue database, which contains company growth data for the last five years.

To be considered for the evaluation the companies had to be headquartered in the USA, publicly traded and demonstrate strong revenue growth in the last five years. Relative growth and the number of years in which growth was achieved were considered in the evaluation.The second dimension, Financial Stability, was investigated by analyzing the companies’ profitability as well as using classic metrics such as the Piotroski F-Score and Altman Z-Score, which refer to a company’s overall financial health and the probability to file for bankruptcy.

Industry specific KPIs were utilized to portray financial stability of companies within the banking, insurance and REIT sector.The third dimension, Stock Performance, was evaluated based on multiple KPIs, that underline the companies’ strengths as a stock investment. The analysis process focused on the average annual growth rate, recent returns, a comparison to the overall market and the stocks’ volatility for the past 5 years.Once the data was collected and evaluated, it was consolidated and weighted within a scoring model.

The scores of all three dimensions were added on an equal percentage basis to form the final ranking score of a maximum of 100 points. The 500 companies with the highest score were awarded as “America’s Growth Leaders 2027” by TIME and Statista.See the full list

euronews.com | 12 hrs. 56 min. ago

EIB to double climate funding to €30bn as extreme weather costs soar

The European Investment Bank's €30 billion for climate financing reflects a shift from climate mitigation to economic protection -- and comes a week before the European Commission is due to present its own climate resilience plan.

euronews.com | 13 hrs. 34 min. ago

Barclays to cut 5,000 jobs as it turns to AI to improve efficiency

British bank Barclays said on Thursday it would cut around 5,000 jobs, or roughly 5% of its global workforce, by the end of 2026 as it turns to AI and other technology to streamline operations and improve efficiency.

theguardian.com | 14 hrs. 3 min. ago

How tech became the villain of the US midterms

Datacenters, AI and distaste for the billionaires developing it has soured Americans on big techThe campaign ad begins with a clear, idyllic stream that suddenly turns sludge-brown as two concrete datacenters slam onto its banks. Another facility thuds down on a peaceful suburban park, and two more crush-green pastures as an ominous soundtrack to a disaster movie blares overtop.“They’re coming for our rivers.

Our neighborhoods. Our farmland,” a deep-voiced narrator says. “Because Brent Taylor wrote the law allowing datacenters to take over Tennessee.” Continue reading...

theguardian.com | 14 hrs. 3 min. ago

French borrowing costs overtake US amid budget turmoil

France’s bond market hit by another bout of selling as country recovers from weekend protestsBusiness live – latest updatesFrench borrowing costs continued to rise on Thursday, as investors fret that France’s government is struggling to pass a federal budget after public protests gripped the country.France’s bond market was hit with another bout of selling, with the difference between French and German 10-year borrowing costs – a metric for the risk premium attached to French debt – rising to its highest level in almost 15 years.

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scmp.com | 14 hrs. 6 min. ago

Hong Kong targets financial innovation to help ease economic ‘pain points’

Hong Kong’s top banking regulator has called for greater innovation in the city’s financial system to help address “pain points” in the real economy, as the city works with mainland Chinese and Asia-Pacific partners to navigate a host of sustainability, geopolitical and other challenges. “True innovation in finance is not simply about chasing novelty; it’s about transforming conventional financial tools into efficient solutions,” said Eddie Yue Wai-man, chief executive of the Hong Kong Monetary...

thehindu.com | 15 hrs. 55 min. ago

SBI data breach: What information was exposed and what customers should do

The Reserve Bank of India should direct all regulated entities to notify customers of personal data breaches within a fixed period, pending the commencement of the DPDP Act said the Internet Freedom Foundation.

thehindu.com | 15 hrs. 56 min. ago

SBI data breach: How the bank discovered the leak and what followed

In a stock exchange filing, SBI said it had experienced an incident involving the loss of certain data. It said on October 16, 2026, it received communications from its Threat Intelligence Service Provider, the Defence Cyber Agency, and CERT-In regarding an alert concerning the suspected exposure of it’s customer data on the dark web.

timesofindia.indiatimes.com | 16 hrs. 14 min. ago

New York court reverses $400,000 mortgage foreclosure judgment after years of legal battle following husband’s death

A recent ruling by an appeals court has overturned a foreclosure decision related to a property in Babylon, New York. The court determined that Bank of America did not give the borrower adequate notice prior to starting foreclosure procedures and failed to show that it had the necessary standing in the case.

Consequently, the court rejected the bank's request for a summary judgment against the estate of Alice McNamara.

nypost.com | 16 hrs. 16 min. ago

Anker’s MagGo Power Bank 2 Pro ‘made it here’: The best power bank for daily life

Can it keep a New Yorker's phone alive from the first swipe of the day to the last train home?

livemint.com | 16 hrs. 42 min. ago

Online frauds: You were alert but lost money due to bank's error? Key RBI rules on bank liability, customer compensation

Lost money to online fraud despite not sharing an OTP? RBI rules specify when banks must refund customers and how banks' liability is determined. New directions from January 2027 will widen customer protection, shift the burden of proof to banks, and tighten resolution timelines.

ft.com | 17 hrs. 25 min. ago

[$] Barclays plans 5,000 job cuts as bank steps up AI adoption

Reductions announced as third-quarter profits fall short of City expectations

scmp.com | 17 hrs. 54 min. ago

Abby Choi got share of ex-husband’s luxury watch profits, murder trial told

Slain Hong Kong socialite Abby Choi Tin-fung received a share of the profits her ex-husband made from investing in luxury watches, the model’s murder trial has heard. Chan Leong-hang, an employee of Aristo Watch & Jewellery in Tsim Sha Tsui, said on Thursday that Alex Kwong Kong-chi sold upmarket timepieces to the shop and asked that the shop transfer part of the proceeds to Choi via bank transfer.

Chan said the company transferred HK$6 million (US$764,580) to Choi’s bank account after her...

al-monitor.com | 18 hrs. 5 min. ago

Israeli settlers steal Palestinians' olives as attacks on harvest grow more violent

By Pesha Magid and Lina ObeidLUBBAN AL-GHARBI, West Bank, Oct 22 (Reuters) - Brought to tears as he recalled Israeli settlers hitting his cherished olive trees with sticks and taking off with the olives, Palestinian Ahmed Salem said he feared being attacked if he tried to intervene.Settlers have intimidated Palestinians harvesting their olives in the occupied West Bank for decades, but this year, not only has violence increased sharply, theft has been widespread, according to Palestinians, Israeli rights groups and the UN.

bbc.co.uk | 18 hrs. 13 min. ago

Barclays cutting 5,000 jobs as it increases reliance on AI

The bank says it is using more AI leading to a 5% reduction in its workforce.

ft.com | 21 hrs. 48 min. ago

[$] AI and inflation: how worried should central bankers be?

Relative price shifts can affect the overall price level

abc.net.au | 21 hrs. 50 min. ago

NAB staff speak out after mass job cuts revealed

NAB workers say the writing was on the wall regarding mass redundancies as the major bank pushes towards an offshore workforce and the uptake of AI.