The Confederation of British Industry (CBI) has been embroiled in a sexual misconduct scandal, with allegations of rape, sexual harassment and discrimination being reported this week in an exposé by The Guardian.
Three people have been convicted for investment fraud and sentenced to a total of 24 and a half years for their roles, in a prosecution brought by the UK’s Financial Conduct Authority.
A look at the demise of SVB, Signature Bank and Credit Suisse and what this may mean for regulation.
UK-based outsourcing giant, Capita, suffered an IT outage on Friday which prevented staff from accessing the system.
Several banks are being investigated by US regulators over their dealings with Russian clients.
Swiss banking giant UBS has bought beleaguered lender Credit Suisse in a rescue deal brokered over the weekend. In a statement, the Swiss National Bank
t looks as though Credit Suisse is likely to be the next casualty in the banking crisis triggered by the collapse of California-headquartered Silicon Valley Bank earlier this week.
Last week, California-headquartered bank SVB (Silicon Valley Bank) announced a US$1.8bn loss due to asset sales in order to meet withdrawal requests. Trading of SVB stock was halted on the morning of Friday 10th March when stocks plummeted by 68%. By Monday, its US business had completely collapsed, in the largest banking failure since the financial crisis of 2008.
The Bank for International Settlements (BIS) and three central banks have announced the conclusion of a joint project looking into the potential pros and cons of using retail CBDCs (central bank digital currencies) for cross-border payments.
The American Banking Association (ABA) has withdrawn its support for a key proposal from the US Treasury, designed to help prevent the use of shell companies for fraud.
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