Category: News

April 24, 2024

The research also offered a long-term solution for the energy transition, following the coal-to-gas substitution, built on a market-based approach: the creation of a global carbon tax and emission trading system. “Climate change is a global problem and addressing it […]

April 3, 2024

Delays implementing return-to-office plans and questions around companies’ longer-term real estate footprints are straining the office category of regional banks’ commercial real estate portfolios, executives said last week in Philadelphia. Nearly a year after the World Health Organization declared the […]

April 1, 2024

Citi’s energy clients include companies predominantly related to oil and gas production, but also include bioenergy, carbon capture, utilization and sequestration, direct air capture hydrogen and renewable energy, according to its 2021 Task Force for Climate-related Financial Disclosures report. Its […]

March 29, 2024

I was genuinely surprised when a friend of mine – one of the fintech OGs – recently said he had loaded a bank card onto his phone’s pay app for the first time. He was taking his first tentative steps […]

March 27, 2024

The Manchester-headquartered bank says a consultation for the proposed job cuts has now commenced, with the action expected to impact 12% of its total workforce. “The decision has not been made lightly, and the bank will continue to work closely […]

March 5, 2024

Lloyd’s of London has hit a short-term target of filling 35% of leadership roles with women, although less than half of firms in the commercial insurance market had hit the mark, it said on Tuesday. Lloyd’s said it needed to […]

February 26, 2024

Citi has appointed Viswas Raghavan as head of banking and executive vice chair, CEO Jane Fraser said in a memo Monday. Raghavan will oversee Citi’s investment, corporate and commercial banking businesses, which is one of the company’s core units. He […]

February 15, 2024

Fortune magazine again recognized U.S. Bank as one of the 2024 World’s Most Admired Companies, naming it No. 1 in the Superregional Banks category for the 14th consecutive year. Within the Superregional Banks industry category, U.S. Bank topped the list […]

February 13, 2024

Founded in 2000, Ateo specialises in providing post-trade solutions, including post-trade allocation, clearing engine and APIs, for banks, brokers, dealers and the wider trading industry. The French company has been engaged in a partnership with Trading Technologies since November 2022, […]

February 8, 2024

PayPal’s new management isn’t finished cutting costs in its pursuit of more profitable growth, according to the digital payment company’s new chief financial officer. Chiming in for the first time Wednesday during a presentation of the San Jose-based company’s fourth-quarter […]

February 5, 2024

The German investment bank says the cuts will mainly apply to “non-client-facing areas” as it looks to streamline its business in Germany and lower its annual total operating cost to €20 billion by 2025. Deutsche Bank currently employs around 90,000 […]

February 5, 2024

Launched in 2021, the app enabled the bank’s customers to buy, sell and hold cryptocurrency through partnerships with German software firm SAP and crypto exchange Coinbase. Upon the launch, Vast Bank claimed it had become the first bank in the […]

February 2, 2024

“Sabbatical” is typically a word associated with tenured professors, who take time off to pursue intellectual pursuits. But what if you didn’t have to teach university courses to earn extended paid time off? Bank of America’s offering, launched in January […]

January 30, 2024

2023 brought the most contentious proposed regulation in years: a revamp that would require the U.S.’s biggest banks to hold roughly 19% more capital than they do now. Lawmakers and trade groups opposed to the rule first attacked it on […]

January 29, 2024

The structural overhaul comes amid the group’s claims that more than 21 million of its customers prefer to bank via online or mobile channels, with just 8% exclusively opting for branch-based banking. As a result of this growing preference for […]

January 26, 2024

UK asset management firm Abrdn has announced it is implementing a new “transformation programme” in a bid to streamline its operations and bring down costs, with 500 job cuts proposed. The company says the programme “targets an annualised cost reduction […]

January 24, 2024

Missouri consumers had more than $27.5 million returned from their insurance companies in 2023, the Missouri Department of Commerce and Insurance (DCI) announced. The amount returned to Missouri consumers was a result of DCI’s Insurance Consumer Affairs Division’s mediation work […]

January 22, 2024

Established in 1992 and based in Ljubljana, SID Bank operates as a promotional development bank and export credit agency (ECA), providing insurance and financing on behalf of the Republic of Slovenia to promote internationalisation for the country’s export companies. As […]

January 18, 2024

Citizens Bank reduced its headcount by about 650 positions, or 3.5%, in the fourth quarter, the Providence, Rhode Island-based lender said Wednesday in an earnings release. The trim represents a combination of layoffs and attrition, bank officials said Wednesday. “I […]

January 16, 2024

For the quarter ending Dec. 31, the nation’s top six banks reported charges totaling $9.4 billion related to the Federal Deposit Insurance Corp.’s special assessment aimed at replenishing the agency’s deposit insurance fund after several bank failures last year. The […]