Lloyds initiates sweeping staff overhaul amid performance cuts
Financial giant Lloyds is undergoing a major restructuring that could see thousands of employees dismissed in a drive to boost operational efficiency. The performance overhaul has sparked widespread concern among staff and signals a dramatic shift in the bank’s long-term strategy.
Back to Top / Thursday, September 4, 2025, 4:21 am / permalink 13747 / 1 stories in 6 months
Federal Reserve Beige Book Reveals Sluggish Growth and Wage Trends
The Federal Reserve’s latest Beige Book reports minimal overall economic growth across the U.S., noting rising wages amid a shrinking immigrant workforce and rare inflation mentions. The mixed signals underscore the cautious mood among policymakers and market watchers alike.
Back to Top / Wednesday, September 3, 2025, 2:21 pm / permalink 13695 / 1 stories in 6 months
Stripe Pushes Back on JPMorgan’s New Data Fees
PYMNTS / pymnts - Stripe said in comments submitted to the Consumer Financial Protection Bureau (CFPB) that while the regulator finalizes its revisions to the open banking rule, Rule 1033, it should ensure that banks do not “unlawfully charge access fees” for connecting co…
Back to Top / Tuesday, September 2, 2025, 9:22 pm / permalink 13636 / 2 stories in 6 months
Banking Sector Campaigns Against Loophole in Stablecoin Law
PYMNTS / pymnts - Banks are reportedly campaigning to close what they call a loophole in newly adopted stablecoin legislation. Industry groups such as the American Bankers Association, the Bank Policy Institute and the Consumer Bankers Association are warning that the legi…
Back to Top / Monday, August 25, 2025, 8:20 am / permalink 13010 / 3 stories in 6 months
Klarna strikes €1.4bn financing deal with Santander
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Back to Top / Thursday, August 21, 2025, 3:21 pm / permalink 12833 / 2 stories in 6 months
JPMorgan MUFG Leads Multi-Billion Loan for Data Center Expansion
In a significant financing maneuver, JPMorgan MUFG is spearheading a massive loan deal reportedly valued between $22 billion and $25 billion for Vantage Data Centers. The funding is aimed at boosting digital infrastructure, underscoring the intensifying investment in data center expansion despite an unpredictable market climate.
Back to Top / Wednesday, August 20, 2025, 3:20 pm / permalink 12743 / 0 stories in 6 months
N26 co-founder Valentin Stalf exits CEO role following investor row
John Reynolds / tech - One of the co-founders of German challenger bank N26 is standing down as CEO, following reports of a dispute with some of its investors over the founders' handling of regulatory issues.Valentin Stalf,...
Back to Top / Tuesday, August 19, 2025, 10:21 am / permalink 12614 / 3 stories in 6 months
Starling plots SME accounting play with Ember acquisition
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Back to Top / Tuesday, August 19, 2025, 8:21 am / permalink 12599 / 4 stories in 6 months
Intel will receive a $2 billion lifeline from SoftBank
Emma Roth / theverge - SoftBank will invest $2 billion into Intel as the struggling chipmaker pulls back on spending and lays off thousands of workers. In an announcement, SoftBank CEO Masayoshi Son said the investment aligns with the firm’s belief that “advanced semiconductor …
Back to Top / Tuesday, August 19, 2025, 8:21 am / permalink 12597 / 6 stories in 6 months
Monzo mirrors Revolut and Klarna with plan to launch mobile service
John Reynolds / tech - Monzo is planning to launch a mobile phone offering, mirroring similar moves by challenger financial startups Revolut, Klarna, and N26. The UK challenger bank is planning to launch a digital sim and o...
Back to Top / Monday, August 18, 2025, 7:20 am / permalink 12504 / 3 stories in 6 months
New York Sues Zelle, Alleging Failure to Prevent Fraud
PYMNTS / pymnts - Zelle operator Early Warning Services is being sued by New York State Attorney General Letitia James, who alleged that the company fails to protect its users from “massive amounts of fraud.” [contact-form-7] The Office of the New York State Attorney Gener…
Back to Top / Wednesday, August 13, 2025, 2:21 pm / permalink 12245 / 3 stories in 6 months
Western Union Expands Retail Footprint With $500 Million Intermex Deal
PYMNTS / pymnts - Western Union is acquiring money transfer service International Money Express (Intermex) for $500 million. [contact-form-7] The deal is designed to bolster Western Union’s retail business in the U.S. while helping it speed digital customer acquisition, th…
Back to Top / Monday, August 11, 2025, 6:20 am / permalink 12034 / 1 stories in 6 months
Chime Leans on Cost Edge to Win ‘Unhappily Banked’
PYMNTS / pymnts - Chime’s first outing as a public company was a success, and CEO Chris Britt did not hedge on ambition. He waited about 30 seconds into the company’s first earnings call to tell the audience that he wants nothing less than for Chime to become “the largest …
Back to Top / Thursday, August 7, 2025, 10:20 pm / permalink 11905 / 2 stories in 6 months
Block Pushes Past Payments Into Bitcoin, Banking and BNPL
PYMNTS / pymnts - Block, owner of Square and Cash App, is betting that the future of money won’t look a lot like its past. [contact-form-7] Per its executive remarks during Thursday’s (Aug. 7) second-quarter 2025 earnings call, the FinTech platform’s ambitions are larger t…
Back to Top / Thursday, August 7, 2025, 9:20 pm / permalink 11902 / 3 stories in 6 months
Marqeta finalizes TransActPay acquisition to boost card programs
Card issuing company Marqeta has wrapped up its acquisition of TransActPay to strengthen its card program management in the UK and Europe. This strategic move, clearly aimed at outpacing fintech competitors, adds another bold chapter to Marqeta’s relentless expansion playbook.
Back to Top / Thursday, August 7, 2025, 8:20 pm / permalink 11900 / 1 stories in 6 months
Hackers use hidden Raspberry Pi and custom malware to attack bank ATMs
techspot - A recently uncovered attempted bank heist illustrates the growing sophistication and audacity of cybercriminal operations targeting financial institutions. The incident involved a combination of physical intrusion, advanced malware, and anti-forensic meas…
Back to Top / Friday, August 1, 2025, 8:20 am / permalink 11429 / 2 stories in 7 months
JPMorgan and Coinbase Forge Crypto-Banking Integration Deal
In a move that blurs the lines between traditional finance and cryptocurrency, JPMorgan and Coinbase have struck a deal to connect bank accounts with crypto wallets. The partnership promises to bring bank-grade compliance to the crypto space while intensifying the convergence of digital and conventional finance.
Back to Top / Wednesday, July 30, 2025, 12:21 pm / permalink 11249 / 1 stories in 7 months
Klarna granted UK EMI licence, as looks to position itself as "global digital bank"
John Reynolds / tech - Klarna has been granted a licence in the UK, which will allow it to launch a debit card and offer savings accounts to its 11m UK customers as it looks to compete against UK challenger and established ...
Back to Top / Wednesday, July 30, 2025, 5:20 am / permalink 11213 / 3 stories in 7 months
HSBC profit slump amid mounting Chinese losses and hefty charge
HSBC reported a significant decline in first‐half earnings, with profits plunging 26% as mounting losses in China and a US$2.1bn charge on its Chinese bank stake added insult to injury. Investors are left both amused and alarmed as the bank navigates choppy economic waters.
Back to Top / Wednesday, July 30, 2025, 3:20 am / permalink 11211 / 1 stories in 7 months
CFPB Asks Judge to Stay Lawsuit as It Revises Open Banking Rule
PYMNTS / pymnts - The Consumer Financial Protection Bureau (CFPB) asked a judge Tuesday (July 29) to stay a lawsuit challenging the open banking rule implemented last year by the Bureau’s previous leadership under the Biden administration. [contact-form-7] The CFPB said it…
Back to Top / Tuesday, July 29, 2025, 5:20 pm / permalink 11189 / 1 stories in 7 months