UK’s Open Banking Success: 10 Million Users
While open banking starts to gain traction in the U.S., across the pond the banking and payments sector is celebrating...
Banking
Bank of Lithuania appoints a temporary representative to supervise Kevin EU, UAB
The Bank of Lithuania has appointed a temporary representative to supervise the activities of Kevin EU, UAB, while also applying...
EU prepares two-step trade plan to tackle Donald Trump
Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseBrussels is developing a two-step trade strategy to deal with Donald Trump, offering the Republican a quick deal if he wins a second term as president, and targeted retaliation if he opts for punitive tariffs instead. EU officials see the carrot-and-stick approach as the best response to Trump’s pledge to impose a 10 per cent minimum tariff, which they estimate could reduce EU exports by around €150bn annually.Negotiators are...
Banks have consistently failed to comply with 2017 UK Order.
UK competition regulator finds that four banks have breached rules designed to protect consumers. UK competition regulator finds that four...
Digital Bank Revolut Introduces Cash Deposits For UK Clients
Revolut, the global fintech with more than 9 million UK customers and 45 million internationally, announced the launch of cash...
The end of Wall Street as we know it! Fascinating images show the transformation from banking capital of the world to luxury living
The last bank has left Wall Street.But that doesn't mean that the area that was once the hub of American...
Will the Bank of England cut interest rates?
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Bank of England has held rates at a 16-year high of 5.25 per cent since August last year but a majority of economists think it will begin its cutting cycle at its monetary policy meeting on Thursday. More than 80 per cent of economists polled by Reuters over the past week predict the bank will deliver a quarter point cut next week. But traders in swaps markets are less convinced, pricing an...
Central Bank’s €350k five-day ‘retreat’ meeting for visiting EU senior bankers as ‘bigwigs’ shock bill details revealed
THE Central Bank spent more than €350,000 hosting a five-day ‘retreat’ meeting for a visiting delegation of senior bankers from...
European defence in need of big financial boost, says Saab chief
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Europe must increase its financial backing for the defence industry massively if it wants to spur collaboration and improve the competitiveness of the continent’s companies, according to the boss of Saab.Micael Johansson, chief executive of the Swedish defence group, told the Financial Times that the European defence industrial strategy needed to be backed by a figure in the region of €100bn rather than the €1.5bn currently envisaged by the European Commission.“What defines...
Plan to send Azeri gas to Europe may simply disguise Russian fuel, say experts
Experts have suggested a plan to replace Russian gas flowing to Europe through Ukraine with gas from Azerbaijan risks becoming a conduit for the disguised export of fuel from Russia.Gas from Russia is pumped to Europe through pipelines that transit Ukraine. Kyiv is considering trying to replace that supply with Azeri gas.But that replacement fuel would probably have to travel through Russia and Ukraine to reach Europe — and Baku would only be able to provide a small proportion of the quantity now reaching the continent from Russia, raising questions...