Dutch central bank moves 86 tonnes of gold to UK from US and Canada, citing ‘geopolitical unrest’
The Dutch central bank says it has moved 86 tonnes of its gold reserves out of the US and Canada to London, citing “increasing geopolitical unrest”.
Business
Taxing the banks: what Europe’s windfall levies brought in as Burnham eyes his next move
The countdown is on. Two months out from Andy Burnham’s inaugural autumn budget, bank executives are wringing their hands over whether the government will target their bumper profits with fresh taxes.
Barclays faces complaint over backing for power plant near world’s largest mangrove forest
Barclays Bank is facing a formal complaint over its financial links to a coal-fired power station near the Sundarbans, the world’s largest mangrove forest and home to millions of people in Bangladesh and India.
House prices could fall 10%, analysts predict, as fourth interest rate hike looms
Cotality data reveals property prices are now falling in more than 90% of Australian suburbs, while economists expect market downturn to continue
Boss of City regulator accused of threatening consumer group over £9.1bn car loan scheme
The boss of the UK’s financial regulator is accused of threatening a consumer group with “adverse consequences” if it blocked a £9.1bn compensation scheme meant to settle the motor finance scandal .
New payment set up? Get in touch! The bank scam where your ‘bank’ is the scammer
Impersonation scams – where callers or texts claim to be from trusted entities such as banks, HMRC or even the police – are rife … and growing
‘I’ve £80k in the account, here’s my pin’: turning the tables on the scammers
“A couple of Sundays ago at just past 11am my mobile rang. An automated message purported to be from Barclays Bank, querying a payment to Argos for more than £1,000. Not only had I not made a payment to Argos recently, …
City firms race to prepare for FCA crackdown on bullying and harassment
Rules will require hedge funds, insurers and pension firms to report all non-financial wrongdoing
Ex-JPMorgan Chase executive shared confidential bank information with Epstein
Former JPMorgan Chase executive Jes Staley told US lawmakers he repeatedly shared confidential and market-sensitive bank information with Jeffrey Epstein and was at one point named as a trustee of his estate, accordi…
Student bank accounts: don’t be swayed by the freebies, freshers told
In the scramble to sort out university accommodation, join freshers group chats and work out how a student loan payment is meant to stretch across a whole term, there is one big decision that is easy to put off but wort…
Interest rate dilemma for central banks as inflation rises but growth slows
Inflation rates have been falling across the industrialised world, but fears that the Middle East war will raise oil prices means central banks are sitting on their hands when they should be raising interest rates to su…
AI push is putting banks at mercy of tech firms, warns Moody’s
The rating agency Moody’s has said the race to adopt AI is putting big banks at the mercy of a small group of Silicon Valley firms, leaving them vulnerable to widespread outages and price gouging by profit-hungry tech b…
Sir Christopher Ondaatje obituary
Businessman and philanthropist who helped fund a new wing for the National Portrait Gallery
Lloyds Bank should publish the human cost of its AI savings | Letters
Banks should factor in the time spent by humans checking invented facts, writes Dr Gleb Tsipursky
Bank battle: history suggests Burnham faces fight if he opts for windfall tax
It has been a stellar week for UK banks. Fuelled by high interest rates and market turbulence rippling out from the US war on Iran, major lenders have revealed soaring half-year profits that allowed bosses to boost bonu…
Calls for UK bank tax to fund cost of living help as HSBC profits hit £7.5bn
Campaigners have renewed calls for a windfall tax on UK banks that could raise £19bn towards Andy Burnham’s cost of living agenda, after HSBC raked in $10.1bn (£7.5bn) worth of profits in the second quarter of the year.
Metro Bank customer fights for £14,000 refund after AI-linked fraud
A Metro Bank customer has told of his fight to get more than £14,000 back after its systems failed to stop a fraud involving the AI chatbot Claude.
Capital One says it closed Trump Organization’s accounts after anti-money-laundering review
Disclosure from 2021 investigation marks first time a bank has formally tied money-laundering concerns to Donald Trump
HSBC to pull out of Australian retail banking market
The London-headquartered HSBC is closing all Australian branches over the next 18 months after selling its local mortgage and personal loan portfolio to the global asset giant Blackstone.
Lloyds Bank to cut £2bn in costs as part of AI-powered strategy
Lloyds Banking Group will cut another £2bn of costs as part of a four-year plan under which its chief executive will use new tech and AI to drive growth.
Gary Stevenson to quit YouTube channel, citing health concerns
The City trader turned wealth tax campaigner Gary Stevenson has announced he is quitting the YouTube channel that made his name, citing health concerns.
UK savings deals: the heat is on as banks offer up to 8%
You can currently get instant- and easy-access accounts that pay up to 5% interest, and fixed-rate savings bonds that pay almost that much. Meanwhile, those looking for a regular savings account can now get up to 8%.
Former Barclays CEO Jes Staley faces US congressional panel over Epstein ties
Staley is latest high-profile figure to testify before House amid investigation into Epstein, convicted sex offender
Democratic lawmakers propose bank funded by China tariffs to boost US manufacturing
Democrats in the US Congress have laid out plans for what they say would be the “boldest” bid to revitalize the country’s industrial heartlands since the second world war – using revenue raised by tariffs on China.