Cash pilgrims and bricks of money: HSBC Swiss bank operated like cash machine for rich clients

Despite its self-protective caution, HSBC does however appear to have tipped its customers off to behaviour that might alert the taxman. In another case, a banker said two clients “asked about taking cash into the UK. I told them that the ‘limit’ was £10,000 – information obtained from HSBC Compliance in London who had spoken […]

Q&A: How to get aid for a small business hit by coronavirus crisis

ARE THESE PAYCHECK PROTECTION LOANS FREE? They can be, if they’re used to retain or hire workers. Starting Friday, the Small Business Administration is guaranteeing $349 billion in potentially forgivable loans under the rescue package. A business with up to 500 employees, including owners who work solo and freelancers, can borrow up to $10 million […]

Banks sanction around 44% of targeted Rs 3 lakh crore in liquidity support to MSMEs: CARE Ratings

Public sector banks (PSB) lead in terms of their share in the loans sanctioned and disbursed, as per the report. Of the total loan amount sanctioned and disbursed as on July 23, PSBs’ share stood at 55 percent and 58 percent respectively. Meanwhile, private banks had sanctioned and disbursed around 45 percent and 42 percent of the […]

RBI extends liquidity lifelines to distressed firms

Besides, the central bank’s move to ease the norms to invest in debt mutual funds will incentivise banks to lend more to corporates (beyond super rated) through bonds, something that stalled in the wake of Covid-19. “It has been decided to provide a window under the June 7 prudential framework to enable lenders to implement […]

RBI sets up panel under Kamath to suggest steps to deal with coronavirus-related stressed assets

The other members of the Committee will be Diwakar Gupta (effective September 1, 2020, after the completion of his term as vice-president of ADB); T.N. Manoharan (effective August 14, 2020, after the completion of his term as chairman of Canara Bank); and Ashvin Parekh will be strategy advisor; and the Indian Banks’ Association CEO will […]

UPDATE 1-German bond yields rise from two-month lows in busy week

“Temporary weakness in European government bonds and spreads may be seen in coming sessions on account of the magnitude of the strength we have seen already … in any case, we would see such weakness as opportunities to buy the dip,” Mizuho strategists said in a note.

Coronavirus: Millions for small business ‘sitting in council accounts’

For the small businesses grant they must be based in England, occupy property for business use and have been eligible for relief on various rates by 11 March 2020.To access the retail, hospitality and leisure grant the business must be mainly used as a venue for hospitality, retail or leisure. Some charities can also apply.Brent […]

Meghan and Harry latest news: Ex-royals call businesses telling them to stop advertising on social media – LIVE updates

Instead, Meghan opted to wear diamond earrings for the formal dinner in Fiji, along with a flowing blue dress which was in stark contrast to Kate Middleton, who on the same night stunned in a large diamond and pearl tiara – once worn by Princess Diana – at Buckingham Palace.

Nation to boost consumption, investment

Other measures include boosting consumption in the smart retail, online education and home appliance sectors, encouraging areas that have restrictions on car purchases to increase the number of car registrations as appropriate and offering subsidies for the purchase of new energy vehicles.

VN-Index gains narrow in fifth straight gaining session

Notably, 62 percent of this cash flow went into stocks off the VN30, a basket of market’s 30 largest capped stocks, which usually accounts for more than half of total trading each session. The VN30-Index this session added 0.7 percent, with 13 gainers and 14 losers.