Tag: banking

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Swiss politicians vote against loosening notorious banking secrecy law

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Swiss politicians have voted against loosening the country’s banking secrecy laws, drawing criticism from the UN and campaign groups who said the laws will continue to harm press freedom. A notorious law known as arti...

Swiss consider amending banking secrecy laws amid UN pressure

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Swiss politicians will debate the future of the country’s controversial banking secrecy law this week, as it faces pressure from UN officials to scrap rules under which whistleblowers and journalists who report on pot...

How Swiss banking secrecy enabled an unequal global financial system

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French kings found the ideal refuge for their wealth: a city-state nestled between the snow-capped Alps and the pristine waters of Lake Geneva. Catholic royalty flocked to Geneva in the 18th century in an effort to co...

A banking crisis isn’t just bad for business, it can also poison politics

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Financial crises are a really bad idea. We learned that in the UK with the 2008 banking crisis. It doubled our national debt and was followed by a decade of lost earnings growth. But banks going under contributes to g...

Banking chiefs head for the hills in bid to leave cheap money behind

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It is credited with preventing the worst global recession since at least the second world war from turning into something far worse. But after the injection of trillions of dollars into financial markets to cushion th...

Lloyds Banking Group records £2bn profit after pandemic slump

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Lloyds Banking Group has announced one of its biggest acquisitions since returning to full private ownership and restarted dividend payments, after receding Covid risks helped the bank return to profit in the second q...

Country diary: banking on a beetle bonanza

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I’m used to spotting the most conspicuous and charismatic species in my garden – stag beetles, common cockchafers, seven-spot and harlequin ladybirds – but in the past few weeks something else has been happening. Earl...

How a chef became a doggie-treat entrepreneur – with some ‘amazing’ banking support

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Kelly Purvor remembers exactly where she was on her birthday in 2017: attending the opening of Daisy’s Dog Deli, a store dedicated to handmade canine treats and accessories, at Bluewater shopping centre in Kent. Purvo...

Lloyds Banking Group to close 44 more branches

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Lloyds Banking Group is shutting a further 44 Lloyds and Halifax branches, sparking criticism from trade unions which say the lender is denying vulnerable consumers and small businesses of essential services. The late...

Global banking regulators call for toughest rules for cryptocurrencies

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Global regulators have said cryptocurrencies such as bitcoin should come with the toughest bank capital rules to avoid putting the wider financial system at risk should their value collapse suddenly. The Basel Committ...

Banking regulations to be reviewed after winding down of Wyelands Bank

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The Bank of England will examine tightening banking regulations after the winding down of debt-laden Wyelands Bank, a lender majority-owned by troubled Liberty Steel boss Sanjeev Gupta. Appearing before MPs on the Tre...

Extinction Rebellion to step up campaign against banking system

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Extinction Rebellion is planning to step up its campaign against the banking system with a series of direct action protests and debt strikes in the coming weeks aimed at highlighting the financial sector’s role in the...