Banking

Banking

UK’s Labour pledges to plug gaps left by bank branch closures

By Huw Jones LONDON, June 17 (Reuters) - Britain's Labour Party said on Monday it would give regulators new powers to significantly increase the number of 'banking hubs' on high streets if voted into government next month. Lawmakers in Britain have flagged concerns about the closure of branches leaving some people, particularly in rural areas, facing difficulties accessing cash as many customers bank online and use cards to pay in shops, cafes and petrol stations. Banking hubs are located in communities across Britain and operated by the country's Post Office,...
Banking

EU capitals to back second term for Ursula von der Leyen

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.EU leaders from across the continent’s political spectrum voiced support for Ursula von der Leyen to win a second five-year term as president of the European Commission on Monday evening.The heads of the EU’s 27 member states will use a private dinner in Brussels to give political backing to von der Leyen remaining in office, diplomats and officials said, ahead of a formal rubber-stamping later this month.“I am absolutely certain that we...
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