The problem at the heart of Rachel Reeves growth strategy for financial services, is well summarised by William Keegan (Observer):
'the UK’s financial sector is quite big enough already. It is there to serve the interests of the wider manufacturing, innovative & service economy, as well as us “consumers”; it is not supposed to be an object of growth in itself'!
The problem is that Reeves cannot see is that the tail is wagging the dog!
Te UK Supreme Court has saved Rachel Reeves legislating to protect lenders from claims by car buyers for compensation for 'secret' incentive payments to dealers arranging car financing.
The UKC has largely overturned the judgement that opened the door for widespread compensation payments & it now looks that while some compensation cases may still be able to proceed but this will be highly limited.
Sighs of relief in finical services & disappointment for car buyers?
#FinancialServices
h/y FT
Qilin Ransomware Claims Attacks on Jordan’s ASEZA and Colombia’s PDC https://dailydarkweb.net/qilin-ransomware-claims-attacks-on-jordans-aseza-and-colombias-pdc/ #FinancialServices #RansomwareNews #cyberattack #databreach #government #ransomware #Colombia #Jordan #ASEZA #Qilin #PDC
Union Bank partners with Savage and Associates to expand investment services, transitioning $127M in assets and enhancing financial solutions for Ohio communities #FinancialServices #Collaboration
2Q2025 ING press release | ING
Amsterdam, ING posts 2Q2025 net result of €1,675 million, with strong growth in lending volumes and fee income…
#NewsBeep #News #Headlines #Financialservices #ING #Latvia #LV
https://www.newsbeep.com/30544/
Fed unlikely to cut benchmark interest rates, though economic policy schism emerges
WASHINGTON (AP) — Two top Federal Reserve officials could dissent from the central bank’s l…
#NewsBeep #News #US #USA #UnitedStates #UnitedStatesOfAmerica #Business #APTopNews #donaldtrump #Economicindicators #Economy #FederalReserveSystem #financialservices #Generalnews #Governmentregulations #JeromePowell #JPMorganChase&Co #MichaelFeroli #MichelleBowman #TomPorcelli #U.S.news
https://www.newsbeep.com/us/48019/
Fed unlikely to cut benchmark interest rates, though economic policy schism emerges
WASHINGTON (AP) — Two top Federal Reserve officials could dissent from the central bank’s likely decision…
#NewsBeep #News #Topstories #APTopNews #Business #DonaldTrump #Economicindicators #Economy #FederalReserveSystem #Financialservices #Generalnews #Governmentregulations #Headlines #JeromePowell #JPMorganChase&Co #MichaelFeroli #MichelleBowman #TomPorcelli #TopStories #U.S.news
https://www.newsbeep.com/28955/
the schism between Rachel Reeves & Andrew Bailey (BoE) is deepening, with each unhappy with the other over Revolut's aspiration to shift from FinTech to fully fledged bank.
Reeves has been keen to support Revolut, organising a meeting with key regulator to ease their way, while Bailey then cancelled the meeting(s) on the basis of Reeves desire to accelerate the regulatory process.
More indication that Reeves just does what financial services wants?
#FinancialServices #regulation
h/t FT
