HK residents rush for offshore bank accounts on China law worries: sources

“Now is the second wave of opening offshore accounts; the first wave was after June last year during the protests,” said one of the sources, referring to the sometimes violent unrest against a now-withdrawn bill that would have allowed people to be extradited to the mainland.

Wirecard files for insolvency amid German accounting scandal

The watchdog temporarily banned short selling of Wirecard shares, a step it had never taken for an individual company, saying there were signs of “manipulative behaviour” potentially including insider trading. It also launched an investigation into reporters at the Financial Times, who in October reported that Wirecard staff had potentially conspired to fraudulently inflate sales […]

Monzo’s new bank account gives you fee-free holiday withdrawals and credit score checks – but it costs £5 a month

“So we’ve doubled down on that and created a premium product that we believe makes Monzo even better at managing your money, refocused on benefits that help customers today and in the future.”

UK banks may have to flag up plans to shut branches or cash machines

The Covid-19 pandemic is accelerating the shift to digital payments, as retailers and customers opt for card over cash. Cash advocates say small businesses, as well as elderly or vulnerable people who cannot use the internet, afford broadband for online banking or open bank accounts are at risk of being left behind.

VIETNAM’S BUSINESS NEWS HEADLINES JULY 22

Siang Tiong said: “2019 was a hugely successful year for our corporate portfolio and we are eyeing to carry this momentum forward in 2020. While the pandemic has hit the region badly, I am sure that, with Lai Leng at the helm, we can still double down on our enterprise segment as we are more […]

FirstBank introduces virtual bank account opening

Explaining, Chuma Ezirim, Group Executive, e-Business & Retail Products of the bank, said: “Beyond opening an account in any of our over 700 branches, we are delighted with the investments at reinventing our business processes over the years, especially with the use of technology.

Barclays sexism trial opens UK banking’s can of worms

When asked about his use of the word “tart” by a lawyer for PCP Capital Partners, Jenkins said: “I apologize for that.” But the optics aren’t great, given that Jones was in charge of measures to clean up UK banking’s sexist image. In 2019, he told an annual UK Finance event that the industry had […]

Open mindset needed for prize-winning game business in Vietnam to take off

To date, the country has eight licensed casinos, 61 prize-wining electronic gaming businesses and one bookmaking company for greyhounds racing. They reported combined revenue of VND19 trillion (US$824.58 million) and pay VND4.9 trillion (US$212.65 million) in taxes in 2019, Tuan informed at a workshop discussing the growth potential of the prize-winning games business in Vietnam […]

Amphan delivers body blow to Bengal’s labour-intensive book business

‘Let’s rebuild’“At least half a dozen motors of my offset machine are dead and it requires ₹8,000-₹10,000 to repair each of them,” said Debasish Auddy, owner of a printing press, Sarat Impressions. Assessing the scale of damage, the Guild developed a catchline — ‘Let’s rebuild College Street Boi Para together’ — and donated a seed […]

Banking watchdog drops threat of inquiry into overdraft charges

“Having reviewed the evidence we obtained, we do not intend to open a formal investigation at this stage,” the FCA said on Wednesday. “We will be keeping a close watch on how prices develop, particularly during and after the coronavirus pandemic.”