What Revolut’s attempt to secure a UK banking licence could mean for its current customers and for the ‘unbanked’: Revolut CEO Nik Storonsky: all he wanted for Christmas (2022) was a UK banking licence. Revolut Last year, the CEO of financial technology (fintech) company Revolut added a UK banking license to his 2022 Christmas wish …
Is the US banking crisis over?: The US banking crisis triggered worries about the global banking system earlier in the year. Three mid-sized US banks, Silicon Valley Bank, Silvergate and Signature, fell in quick succession, driving down bank share-prices across the world. America’s central bank, the Federal Reserve, made significant amounts of cash available to …
US banking failures: the role of big auditors in another financial crisis: Three recent and very serious US bank failures – Silicon Valley Bank (SVB), Signature and First Republic – have one common denominator: all three businesses were audited by one of the world’s major professional services firms, KPMG. The company has stood by its …
Nigeria and digital banking: a revolution still waiting to happen: Cash is still king in Nigeria. Pius Utomi Ekpei/AFP via Getty Images At the end of 2022 the Central Bank of Nigeria launched new banknotes. At the same time it also capped withdrawal of the new banknotes. The rollout of the currency change was shambolic. …
Seven likely consequences from the banking crisis that most people haven’t realised yet: Wobbly times. PhBodrova With four banks down in the US and Europe and at least several more wobbling, we’re currently in the throes of the worst banking strife since 2007-08. Aggressive interest rate hikes have meant that banks are sitting on hefty …
What is systemic risk and how does it lead to a banking crisis?: Andrii Yalanskyi/Shutterstock The recent collapse of Silicon Valley Bank (SVB), a regional US bank that funded start-up companies in the technology and innovation sector, has created a worldwide wave of financial instability. Despite the efforts of US financial regulators to contain the …
Four ways to protect your small business from a banking crisis: Jono Erasmus/Shutterstock The banking sector is currently experiencing great strain, which has resulted in several bank bailouts – most recently UBS’ deal to buy its Swiss competitor Credit Suisse following a collapse in confidence in the latter. HSBC’s acquisition of the UK arm of …
The European Central Bank seems to have got away with raising interest rates in the middle of a banking crisis – here’s why: Not for turning: ECB President Christine Lagarde. Sueddeutsche Zeitung Photo In the middle of a market panic that has felled two US banks and pushed several others to the brink, the European …
Why central banks are too powerful and have created our inflation crisis – by the banking expert who pioneered quantitative easing: Iurii Motov/Shutterstock Fifty years ago, a war broke out in the Middle East which resulted in a global oil embargo and a dramatic spike in energy prices. The war, between Israel and an Arab …
Banking reforms could make the UK a sustainable finance hub, but also threaten financial stability: Relaxing some banking rules could affect the stability of the UK's financial sector, largely based in the City of London. Dmitry Naumov / Shutterstock The UK government wants to rewrite the rules designed to keep the country’s banks and financial …
Banking reforms expert Q&A: will relaxing the rules help the UK economy and what are the risks?: Jeremy Hunt, the UK chancellor of the exchequer, has unveiled a package of measures aiming to protect the City of London’s position as one of the world’s leading financial capitals. With the UK having lost nearly a tenth …
Digital banking is the in-thing — but it excludes many users in Tanzania and Senegal: Financial systems have evolved to allow contactless payments but people who cannot use digital services are being left behind. Getty Images Across countries in Africa, only 33% of adults have an account at a bank or another financial institution. Among …
South Africa in the news: UBS Pulls Investment Banking Dealmakers From South Africa: The Swiss bank has acted to take some costs out of its South Africa and related investment banking arm. Recent results suggest that overall, the investment bank is in fitter shape than a year ago. UBS …: “South Africa” – BingNews DELHI …
South Africa in the news: Bookkeepers and banking sector were hardest hit by the pandemic when it comes to job losses: AM Assistant coach Enoch Nkwe signals an intention to resign from Proteas job The announcement comes after it was reported that Enoch Nkwe wanted to quit and had stated in his resignation letter that: …
South Africa in the news: On Prowl for Clients, Absa Weaves Banking Network Spanning Globe: Absa Group Ltd. is casting its net wider with plans to expand in the U.S., China, Europe and the Middle East, as the bank looks to grow its client base of companies investing in Africa. South Africa’s …: “South Africa” …
South Africa in the news: SA’s banking sector is making some strides despite tough conditions: While 65 percent of all middle managers in banking were black, surpassing the number of white middle managers for the first time in 2019, according to an Intellidex report, more needed to be done to …: “South Africa” – BingNews …
South Africa in the news: Empowerment financing slumps, but is still above target — banking sector report: The Banking Association South Africa’s report on transformation in the financial sector also found that black women voting rights reached its highest level since 2016 …: “South Africa” – BingNews My Word: A hit-and-miss season: Salt & Vinegar-flavored …
Why India is banking on health diplomacy in push to grow African footprint: Workers at India's biggest syringe manufacturer ramp up production in September 2020 in race to meet COVID-19 vaccine-driven demand. Photo by SAJJAD HUSSAIN/AFP via Getty Images India has stepped up its global ambitions and foreign policy re-engagement with African countries in recent …