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Daily Briefing

Morning Briefing
Tuesday 31st May @ 9:04am

HSBC boss Stuart Gulliver is the chief executive of a European bank that most investors would like to see the back of, according to a survey of 74 institutional investors by Autonomous Research.Respondents were asked to name three banks in Europe that are "most in need of a change in CEO", and Mr Gulliver apparently had almost double the votes of Credit Suisse's Tidjane Thiam in second place...MORE

Morning Briefing
Monday 30th May @ 9:10am

RuPay's much-anticipated credit card should be launched by year-end, according to A P Hota, chief executive of the National Payments Corporation of India (NPCI), the Indian central bank-backed body that launched the RuPay debit card in 2012.Mr Hota said the credit card project has been ready for some time...MORE

Morning Briefing
Friday 27th May @ 9:17am

The SWIFT financial messaging system may have been used to attempt a fourth cyber fraud bank attack as well as the 2014 attack on Sony Pictures, according to a blog post by cybersecurity firm Symantec. The company did not name the bank in the Philippines that it said was attacked last year. Authorities in the United States attributed the Sony attack to North Korea, and a number of reports this morning...MORE

Morning News
Thursday 26th May @ 9:15am

The Securities and Exchange Commission in the United States is investigating the accounting practices of Alibaba Group Holdings to see if they violate federal laws.The e-commerce company's shares dropped by nearly seven percent after it revealed the existence of the investigation, which was launched earlier this year. Alibaba said it was cooperating with the SEC investigation and added that the...MORE

Morning Briefing
Wednesday 25th May @ 9:04am

UniCredit has officially confirmed that its chief executive Federico Ghizzoni, who has held the position since 2010, is to step down, paying the price for the Italian bank's poor performance in terms of share price, capital and profits. "The UniCredit board of directors and Federico Ghizzoni acknowledged that the conditions are now such that it is time for a change at the top of the...MORE

Morning Briefing
Tuesday 24th May @ 9:06am

An appeals court in the United States has reinstated private antitrust lawsuits filed against 16 major banks for allegedly rigging Libor rates. The banks, including JPMorgan, Bank of America and Citigroup, could face combined bills running into billions of dollars if the claims accusing them of collusion in manipulating Libor succeed.The claims had previously been...MORE

Morning Briefing
Monday 23rd May @ 8:59am

China's government has approved a People's Bank of China plan to clean up the country's online finance sector, according to a Taipei Times report citing people familiar with the matter.The central bank's plan includes setting limits on the activities of P2P lenders so they cannot hold clients' capital in-house, but must instead deposit such funds with a third-party banking institution...MORE

Morning Briefing
Friday 20th May @ 9:01am

In a special report, Reuters has revealed details of another cyber theft from banks involving the SWIFT network. The incident occurred in January last year and involved an instruction that appeared to come from Banco del Austro in Ecuador to Wells Fargo for money to be transferred to bank accounts in Hong Kong. Over a ten-day period Wells made at least 12 transfers totalling $12 million over the...MORE

Morning Briefing
Thursday 19th May @ 9:05am

The central bank in Hong Kong has launched a Cybersecurity Fortification Initiative to help lenders protect their key technology systems following the recent cyberattacks on some banks connected to the SWIFT interbank financial messaging system.Authorities in Dhaka and the United States are continuing to investigate the cyber heist in February in which...MORE

Morning Briefing
Wednesday 18th May @ 9:08am

Despite the fact that a report into the collapse of African Bank Investments (Abil) in 2014 blamed bank CEO Leon Kirkinis and an "inner circle" who destroyed billions in shareholder value at the bank, the new African Bank has retained the services of a member of that inner circle, according to Business Day Live.The report into the bank's collapse, by advocate...MORE

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