{
}
NatWest Group Plc is on track for its largest annual gain since 1993, with its stock surging 89% in 2024, driven by high interest rates and the government's planned exit from its stake acquired during the financial crisis. The bank's recent boost comes after JPMorgan Chase & Co. named it one of their top stock picks, trailing only Rolls-Royce Holdings Plc in the FTSE 100 rally.
Former Congressman Billy Long has been nominated by President-elect Donald Trump to lead the IRS, prompting mixed reactions from lawmakers and the tax community. While some express concerns over Long's ties to the Employee Retention Tax Credit industry, others highlight his congressional experience as a potential asset for the agency's independence and reform efforts. If confirmed, Long would replace current IRS Commissioner Daniel Werfel, who was appointed by President Biden.
Goldman Sachs Group Inc. is exiting the Net-Zero Banking Alliance, the largest climate alliance for banks, signaling a shift in Wall Street's engagement with such organizations. The decision was announced in a statement on Friday, reflecting a recalibration of affiliations within the financial sector.
Kenya's central bank Governor Kamau Thugge urged commercial banks to aggressively reduce loan rates to align with falling borrowing costs, aiming to stimulate the economy. Despite a cumulative 175 basis points cut in the policy rate over three meetings, banks have been slow to adjust their rates.
The European Central Bank is investigating the use of debt leverage by investors in significant risk transfers (SRTs) as part of its oversight of this growing financial tool. A questionnaire has been sent to leading European banks to gather insights on the conditions and policies related to leveraging SRT purchases. The ECB aims to understand the terms under which banks are willing to extend leverage against these holdings.
Norway's financial watchdog has raised concerns about the potential for a significant increase in home prices, citing the country's high household debt levels. The easing of lending regulations set for January could lead to a sharper rise in housing valuations if credit costs decrease more than anticipated, according to Per Mathis Kongsrud, director general of the Financial Supervisory Authority.
The pace of new demat account openings has slowed, reaching a seven-month low. As of the end of November, the total number of registered demat accounts with NSDL and CDSL rose to 182.1 million, up from 178.9 million the previous month.
HSBC is undergoing a restructuring under CEO Georges Elhedery, with significant management changes including the departure of Global Head of Private Banking Annabel Spring. Gabriel Castello, currently CEO of HSBC Switzerland, will serve as interim CEO of Global Private Banking and Wealth while retaining his other roles. The bank aims to enhance its strategic priorities through this reorganization.
HSBC is undergoing a restructuring under CEO Georges Elhedery, with Gabriel Castello, CEO of HSBC Switzerland, stepping in as interim CEO of Global Private Banking and Wealth. This change follows the departure of several senior executives, including the Global Head of Private Banking, as the bank implements a new organizational structure to enhance strategic priorities. Castello, who joined HSBC in 2022, brings extensive international experience and will continue to oversee HSBC Private Bank in Switzerland during this transition.
Wiwi Gutmannsbauer has been appointed Chief Operating Officer for the Asia-Pacific region at UBS Wealth Management, while retaining his role as COO of Global Wealth Management. He will commute between Singapore and Zurich, returning to the APAC region where he previously served from 2018 to 2021. Iqbal Khan, co-head of Wealth Management, emphasized Gutmannsbauer's experience and strategic position to support regional growth.
Banking Regulations
SubCategory
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
NatWest Set for Largest Annual Gain Since 1993 Amid Rising Interest Rates
British Pound Sterling
JPMorgan Chase & Co.
Rolls-Royce Holdings plc
NatWest Group plc
GBR
Show more
14:50 06.12.2024
Trump Nominates Billy Long as IRS Commissioner Amid Mixed Reactions
United States Dollar
Alliantgroup LP
USA
Joe Biden
Billy Long
Ron Wyden
Daniel Werfel
Mark Everson
Charles Rettig
Donald Trump
Mike Crapo
Show more
14:50 06.12.2024
Goldman Sachs Exits Major Climate Alliance for Banks
14:26 06.12.2024
Kenya Central Bank Urges Banks to Cut Loan Rates to Boost Economy
13:16 06.12.2024
ECB Investigates Bank Policies on Leverage for Significant Risk Transfers
13:04 06.12.2024
Norway Warns of Risks from Potential Home Price Surge Amid Lending Easing
12:50 06.12.2024
Demat Account Openings Slow to Seven Month Low Despite Overall Growth
12:37 06.12.2024
hsbc switzerland ceo appointed ad interim amid major management restructuring
United States Dollar
Caixabank Destino 2050 FI
CHE
Adam Bagshaw
Gabriel Castello
Georges Elhedery
Matthew Ginsburg
Annabel Spring
Show more
08:47 06.12.2024
HSBC Switzerland CEO Takes Interim Role in Global Private Banking Restructuring
United States Dollar
HSBC
CHE
Adam Bagshaw
Annabel Spring
Gabriel Castello
Matthew Ginsburg
Show more
08:47 06.12.2024
Wiwi Gutmannsbauer appointed COO for Asia Pacific at UBS Wealth Management
08:18 06.12.2024
Trending
Subcategory
Corporate News
Startups & Entrepreneurship
Industry Trends
Global Trade Developments
Stock Market Updates
Industry Mergers & Acquisitions
Private Equity Deals
Inflation and Monetary Impact
Supply Chain Management
Government Economic Policies
Retail and Consumer Goods
Cryptocurrency Trends
Venture Capital Investments
Fintech Startups
Workplace Trends
CEO Changes
Central Bank Actions
Central Banks and Digital Currencies
Finance Mergers & Acquisitions
Energy Sector Developments
Countries:
Companies:
Apple Inc.
Foxconn Technology Co., Ltd.
NVIDIA Corporation
Nasdaq 100 Jun 25
Tesla, Inc.
Tencent Holdings Ltd
Google Inc.
NIO Inc.
Nikkei 225
Nintendo Co., Ltd.
Grab2Go AS
OLA ELECTRIC MOBILITY LTD
Boeing Co
Airbus SE
Amazon.com, Inc.
Oracle AI USD
AppLovin Corp.
Tesmec S.p.A.
DeepSeek R1 USD
LG Electronics Inc.
Currencies:
United States Dollar
Indian Rupee
Euro
Chinese Yuan
Japanese Yen
United Arab Emirates Dirham
Egyptian Pound
New Taiwan Dollar
Indonesian Rupiah
Saudi Riyal
Offshore Chinese Yuan
Hong Kong Dollar
Malaysian Ringgit
Filipino Peso
West African CFA Franc
South Korean Won
Thai Baht
Mexican Peso
Croatian Kuna
Bahraini Dinar
People: