Banks could easily stumble over Brexit and buybacks

There is an old Lloyds Bank television commercial featuring those darlings of the 1980s sitcom, Jan Francis and Nigel Havers. Francis’s character has just bought a house from Havers and the ad has the pair bumping into each other at the supermarket checkout. The encounter prompts Francis to give Havers a few unsolicited personal finance lessons, by explaining how her […]

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Online lender OnDeck quarterly profit nearly doubles

(Reuters) – Online lender OnDeck Capital Inc on Tuesday reported quarterly adjusted profit that nearly doubled, as the online lender dispensed more loans and earned more interest income. Adjusted net income rose to $15.9 million, or 20 cents per share, in the fourth quarter ended Dec. 31, compared with $8.1 million, or 10 cents per share, a year earlier. reut.rs/2Ia0Euh […]

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Barclays on wrong side of history with climate policy, says Greenpeace

Environmental activists have accused Barclays of being on the “wrong side of history” after publishing an “underwhelming” climate policy document that fails to rule out funding for tar sands projects. Barclays is the last major UK bank to publish rules for how it will conduct business with companies involved in carbon-heavy industries such as oil and coal. Other lenders including […]

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Pessimism clouds UK banking as demand for services drops

British banks have suffered their first drop in demand for five years as Brexit uncertainty, regulation and market volatility took their toll. The latest CBI/PwC Financial Services Survey showed the financial services sector had a difficult end to 2018, with just 24% of firms reporting a rise in business volumes in the three months to December, compared with 32% having […]

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Banks get a breather on bad loans

RBI’s latest financial stability report indicates that Indian banks’ bad loan crisis could be peaking out In the last five years, investors and depositors in India have become accustomed to banks springing unpleasant surprises on them every time they thought the worst was over on the bad loan crisis. The Reserve Bank of India’s (RBI’s) half-yearly Financial Stability Reports, which […]

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Wells Fargo To Pay $575 Mln Fine To US States Over Sales Practices

Banking giant Wells Fargo agreed to pay $575 million to settle state-level claims for deceiving consumers. The third largest bank admitted that it systematically scammed its customers for 15 years, from 2002 to 2017. Wells Fargo has acknowledged that its employees opened more than 3.5 million unauthorized deposit, credit card, and other accounts. It conducted transfers of funds without customer […]

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