Chinese police arrested over 200 suspects linked to large-scale fraud, one of the country’s biggest banking scandals that prompted mass demonstrations. Police said they have arrested 234 suspects and have … Read more
The U.S. Federal Reserve delivered an interest rate hike of 75 basis point on July 27. 2022, lifting the benchmark interest rate to between 2.25% and 2.5%. The move cam … Read more
In a surprise announcement European Central Bank on Thursday raised key interest rates for the first time in over a decade with the purpose of combating inflation. The ECB raised … Read more
British banking group HSBC announced it had reached an agreement with Expobank to sell its Russian business and exit Russia. “Following a strategic review, HSBC has signed an agreement to … Read more
China has reportedly deployed tanks in front of a bank in Henan after recent mass protests against a financial scandal the bank was liable for. A video showing tanks lined … Read more
Protests were held in the Chinese province of Henan over a banking scandal that involved millions of dollars worth of deposits to Chinese rural banks. The demonstrations were held in … Read more
Deutsche Bank (DB) said it relocated IT workers from Russia to Berlin due to fears of espionage after the Ukrainian invasion. “We have been operating under heightened cyber security awareness … Read more
The European Union (EU) has announced plans of cutting off Russia’s largest bank, Sberbank, from the SWIFT international payment system. In a speech delivered on Wednesday, European Commission President Ursula … Read more
Investigators from Frankfurt’s public prosecutor’s office searched the offices of Germany’s largest lender Deutsche Bank on Friday, focusing on the bank’s anti-money laundering efforts. Officers from the BKA federal police, … Read more
UK bank HSBC allegedly edited out portions of its’ analyst’s research publications that excluded references to a “war” in Ukraine. According to a report by The Financial Times (FT) quoting … Read more