VENTURE CAPITAL POST

The largest banks in Europe, such as Santander, BNP Paribas, and Deutsche Bank, are set to report their earnings for the second quarter of 2024 this week following the announcement from the European Central Bank that it would not change its interest rates.

HSBC announced that Georges Elhedery, its chief financial officer, will become the firm’s next CEO effective Sept. 2.

Bank of America recently announced that its second-quarter revenue and profit from investment banking and asset management fees exceeded Wall Street expectations.

Fifth Third Bank has agreed to pay $20 million to settle allegations about creating fake customer accounts and selling unnecessary car insurance.

The Australian government announced that it has approved the request of ANZ to acquire the banking business of Suncorp for $3.26 billion.

Two weeks after Santander reported several accounts had been hacked, cybercriminals are selling millions of customers' and employees' personal data.

Data analysts from the German cybersecurity consultancy SRLabs said that a large network of fake online designer shops apparently operated from China have stolen money and personal data from over 850,000 people in Europe and the United States.

After the UK removed local pay restrictions for bankers last year, Goldman Sachs was the first to remove its bonus cap for its bankers.

Australia's Macquarie Bank will eliminate the use of cash at its branches later this month as part of its transition to a fully digital offering.

Chase launched a new media business to target its 80 million American bank customers based on their spending.

Swiss banking giant UBS revealed a new share buyback program of up to $2 billion on Tuesday.

South Korea has committed to providing 420 trillion won ($313.4 billion) in policy loans to finance projects that will help the country meet its climate goals.

Federal Reserve and European Central Bank are set for major interest rate cuts, with BIS Chief Carstens noting progress in addressing inflation while cautioning central bankers to remain vigilant.

A firm established by an 18-year-old was fined $50,000 for receiving $1.5 million fraud money in a bank account.

UBS reportedly began cutting off Asia private banking personnel as the largest wealth manager in the region struggled with declining revenues.