A division of Goldman Sachs' transaction banking business (TxB) has stopped signing on riskier financial technology clients after a warning from the U.S. Federal Reserve over risk and compliance earlier this year, the Financial Times reported on Thursday.
Switzerland was urged to prepare properly for the failure of a big bank on Friday by a group of experts in the wake of the collapse of Credit Suisse, but their report to government skirted radical reform some say is needed.
More savings accounts are offering higher interest rates as a more competitive market emerges, though regulatory intervention may still be needed to ensure customers are getting fair value, Britain's Financial Conduct Authority (FCA) said on Friday.
UBS embarked on a more than $10 billion cost cutting plan on Thursday, saying it will axe 3,000 jobs in Switzerland alone after swallowing up its stricken rival Credit Suisse.
The Bank of Canada is expected to hold its key interest rate steady at 5.00% on Sept. 6 and stay at that level through at least the end of March 2024, according to a majority of economists in a Reuters poll, with a small but growing minority expecting one more rate rise.
Swedish payments group Klarna Bank reported on Thursday a much smaller six-month operating loss than a year earlier and said it had reached profitability on a monthly basis ahead of target.
Bank of Japan board member Toyoaki Nakamura said on Thursday it was premature to tighten monetary policy, as recent increases in inflation were mostly driven by higher import costs rather than wage gains.
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