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Daily Briefing

Morning Briefing
Friday 10th June @ 9:13am

Three former senior executives in Irish banks will face sentencing next month after being found guilty in the longest criminal trial in Irish legal history. Former group chief executive of Irish Life and Permanent, Denis Casey, was found guilty yesterday, just over a week after the jury reached the same verdict on former Anglo Irish Bank executives Willie...MORE

Morning Briefing
Thursday 9th June @ 9:17am

Morgan Stanley has agreed to pay a $1 million fine to settle civil charges brought by the Securities and Exchange Commission (SEC) in the United States which claimed that security lapses at the bank allowed a former financial adviser to access its computers and take client data, the SEC said yesterday.The settlement resolves allegations relating to unauthorised transfers of data from around 730,000 accounts...MORE

Morning Briefing
Wednesday 8th June @ 9:11am

The Competition and Markets Authority in the UK squandered a "once in a generation opportunity" with its investigation into competition in the retail banking sector, Professor Diana Coyle, the founder of Enlightenment Economics, told MPs from the House of Commons Treasury Select Committee."I was really disappointed that the report focuses on demand-side changes...MORE

Morning Briefing
Tuesday 7th June @ 9:07am

A surge in issuance of "so-called wealth-management products" (WMPs) to Chinese bank customers looking for higher yields than the deposit rates available to them is casting a long shadow over China's banks, according to a report in the Wall Street Journal.Issuance of off-balance sheet WMPs rose to 7.3 trillion yuan ($1.1 trillion) in 2015, an increase of nearly 75 percent on the...MORE

Morning Briefing
Friday 3rd June @ 9:09am

JPMorgan chief executive Jamie Dimon has issued a warning about the "stretched" vehicle finance market in the United States. "Someone is going to get hurt," he said. "It won't be us."Mr Dimon does not see concern about the market as a systemic issue or a sign of a downturn being imminent but warned of increased risks as a result of factors...MORE

Morning Briefing
Thursday 2nd June @ 9:11am

Two former Anglo Irish Bank executives have been found guilty of criminal conspiracy in what was the longest trial in the history of the Irish state. John Bowe, former head of capital markets, and Willie McAteer, former director of finance, were remanded on continuing bail after the jury returned a unanimous guilty verdict.The jury has still to...MORE

Morning Briefing
Wednesday 1st June @ 9:08am

PayPal is to suspend its operations in Turkey from next week after it failed to get a new licence to provide its services there. "Supporting our customers is very important to PayPal. However, we have no choice but to suspend processing payments in Turkey as our application for a Turkish payments licence has been denied by the local financial regulator...MORE

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

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