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Finance News

Sleaze scandal infects UK politics amid Covid spending spree

London - A drip-feed of revelations over the collapse of an opaque financial firm is raising serious questions about cosy ties between UK politicians, civil servants and big business as the government spends lavishly on fighting the coronavirus pandemic.

In world first, New Zealand to make banks report climate impact

Wellington - New Zealand will force banks to reveal the impact their investments have on climate change under world-first legislation intended to make the financial sector's environmental record transparent, officials said.

Fed chair says cyberattacks main risk to US economy

Washington - Federal Reserve chairman Jerome Powell said he was more worried about the risk of a large-scale cyberattack than another financial crisis like that of 2008.

'Lessons to be learned' over UK lobbying row: ex-PM Cameron

London - Britain's former prime minister David Cameron, under fire for having sought government help for a finance firm he represented, acknowledged Sunday that he should have gone through formal channels.

Q&A: Women offered unfavorable financial offers compared to men Special

Are women underserved in financial matters? New research suggests that finanical offers provided to women differ to men. What are the reasin for this and why is more attention not paid to this discrepancy?

Deliveroo set for London stock market launch

London - Deliveroo debuts as a listed company Wednesday in London's biggest stock market launch for a decade, after the app-driven meals delivery group enjoyed surging sales during the coronavirus pandemic.

Thousands of credentials stolen from a single payment processor Special

In a new cybersecurity concern, it has been reported that at least 100 banks located in Italy have been targeted, based on information gathered by the researchers.

Thousands of financial records exposed without password control Special

The exposure of thousands of Monéé customer records, extending to an array of personal information, has put victims at high risk of account takeover and other forms of fraud.

UK sets out road map to top the global fintech league Special

London - The British government is seeking to revitalize the fintech sector. The plans include introducing a new ‘fintech scale up’ visa route and putting in place a so-called a ‘scale box’, intended to provide regulatory support and guidance.

G20 finance chiefs meet on Covid recovery, aid to poor countries

Milan - G20 finance ministers and central bankers aim Friday to align plans to relaunch the global economy after the coronavirus pandemic and to limit the harm to the worst-off nations shut out of the race for vaccines.

UK fintechs seek 'cure for Brexit' in Lithuania

Vilnius - Thanks in part to Brexit, Lithuania is becoming a fintech hub as a growing number of UK-linked digital financial companies are getting licences there so they can continue to operate in the European Union.

World Bank names former Senegal finance minister to head IFC

Washington - The World Bank on Thursday announced that it has selected former Senegal finance minister Makhtar Diop to lead the agency responsible for private sector finance at a critical time for the global recovery.

Return of Britain's fallen star fund manager sparks concern

London - The return of Britain's former star investor Neil Woodford has caused concern in London's City finance district, where his spectacular fall from grace is still fresh in the memory.

Op-Ed: New ideas for small businesses to survive the pandemic

Many countries are providing relief to small businesses, addressing the impact of the coronavirus pandemic. In response many small businesses are working through their finances in order to survive the next period.

UK finance sector unsure of post-Brexit future

London - While Britain's post-Brexit trade deal with the EU has at last been reached, the future of the country's key financial services industry is uncertain ahead of bilateral talks.

US closes key money-laundering, tax evasion channel

Washington - A major avenue for global money laundering and tax evasion has been closed off by a new law requiring disclosure of owners of US shell companies used to hide billions of dollars.

Mobile emulator steals millions from online bank accounts Special

A new form of cyber-crime has seen cybercriminals siphoning off millions from compromised bank accounts using mobile device emulators. This requires a new approach to protecting personal and business accounts.

Nerves in The City at prospect of a 'no-deal' Brexit

London - Britain's financial sector is watching nervously as the prospect mounts of a "no-deal" Brexit, stoking fears of lost clients and influence in key areas, as well as market turbulence.

EU leaders save landmark budget as Brexit looms

Apo - EU leaders on Thursday resolved a bitter dispute with Poland and Hungary and salvaged the bloc's landmark post-coronavirus recovery plan, as the threat of an imminent no-deal Brexit loomed large.Leaders were looking to salvage the EU's 1.

Q&A: Why banks are seeking to garner the advantages of AI Special

The financial business environment is set to see developments in automation and artificial intelligence as banks seek to harness the advantages of informed data insights in order to grow and expand their operations.

Wealth of US billionaires soars during pandemic

New York - America's billionaires have seen their wealth rise by more than $1 trillion since the start of the coronavirus pandemic, according to a study Wednesday, fueling a debate about higher taxes on the rich.

German MPs to grill ex-Wirecard boss over massive fraud

Frankfurt Am Main - Markus Braun, the former chief executive of disgraced payments giant Wirecard, will on Thursday face a public grilling by German lawmakers over the massive accounting fraud that brought down his firm.

Rich nations fall short on climate finance pledge

Paris - Wealthy countries are falling short on a decade-old promise come due to ramp up climate finance for the developing world, according to a semi-official report released Friday. Even those numbers may be inflated, watchdog groups warned.

US firms fund deforestation, abuses in Amazon: report

Rio De Janeiro - Major US financial firms are helping fund environmental destruction and indigenous rights abuses in the Amazon with billions of dollars in investments in questionable companies, according to a report published Tuesday.

How the COVID-19 pandemic is eroding household finances

The coronavirus pandemic has slowed the economy down considerably and it has caused widespread financial problems, for both companies, employees and the typical household. A new survey looks into the situation in the U.S.

Trudeau names Canada's first female finance minister

Ottawa - Prime Minister Justin Trudeau tapped Chrystia Freeland to be Canada's first female finance minister on Tuesday as an ethics scandal that clipped her predecessor's wings reverberates through the government.

Singapore company director charged over Wirecard scandal

Fpo - A company director has been charged in Singapore with falsifying letters linked to scandal-hit German payments giant Wirecard, according to court documents, as the fallout from the firm's collapse spreads further around the world.

Different generations financial priorities revealed

A new survey by The Ascent has looked at shifting financial priorities across different generations across family units during the coronavirus era.

German ministers in hot seat over Wirecard collapse

Frankfurt Am Main - GermanFinance Minister Olaf Scholz on Wednesday said he gave lawmakers a "detailed" explanation of everything he knew about the fraud scandal that brought down payments firm Wirecard, amid criticism that authorities missed early warning signs of troubl...

German ministers face grilling over Wirecard collapse

Frankfurt Am Main - Germany's finance and economy ministers will be grilled by lawmakers on Wednesday about the massive fraud scandal that brought down payments provider Wirecard, amid criticism that authorities failed to act on early warning signs.
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The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
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Comparison of disposable incomes
Wyatt Emmerich, theclevelandcurrent.com
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Couple on couch, working through their budget.
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PayU Chief Commercial Officer Matthias Setzer
PayU Chief Commercial Officer Matthias Setzer
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The Euro sign outside the European Central Bank in Frankfurt, Germany
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Photograph of Toronto at night.
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A sign outside the headquarters of JP Morgan Chase & Co in New York
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John Swinney MSP
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Standard Chartered bank
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Phillippine stock market board.
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Interior of NatWest Castle Street, Liverpool
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London's Canary Wharf finance district, as viewed from Greenwich Park.
Toronto s finance district by Tim Sandle.
Toronto's finance district by Tim Sandle.
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401(K) 2012 (CC BY-SA 2.0)
The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
Whether crowdfunding is a  new and powerful arrow  or  still in the hype phase  depends on who you a...
Whether crowdfunding is a "new and powerful arrow" or "still in the hype phase" depends on who you ask
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Federal Reserve G20 Data Display in Ratio Line Chart
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