RBS And Barclays Plan To Close 400 UK Branches This Year
Three of Britain’s largest banks are planning to close about 400 branches this year, according to people familiar with the situation, a new program of closures that could leave thousands of customers without easy access to a bank.The number of branches operated by the major banking groups in the UK has halved in the last 20 years and following political pressure a new rule was set last year that requires banks to assess the impact on local communities of a branch closure. HSBC may close the highest number with about 200 branches set to go this year, the people said. That is about a fifth of the bank’s UK branches and a third more than it closed last year.Royal Bank of Scotland and Barclays are also planning to close about 100 branches each, the people said.”The bank closures will accelerate the death of the British high street,” said Derek French, director of the Campaign for Community Banking. “This will particularly have a knock on impact on local businesses and the elderly.”HSBC, RBS and Barclays said in separate statements they were reducing their branch networks as customers visit less frequently in favor of banking online or via mobile.
Each bank said they had put in place measures to mitigate customer concerns, with HSBC forming a partnership with the Post Office and Barclays linking up with supermarket chain ASDA to continue offering services.While banks argue the need to maintain extensive branch networks has fallen sharply in recent years as customers increasingly bank online, critics say local branches provide a vital service and that elderly and low income customers are hit hardest by closures as many do not have internet access.About 70 percent of Britons still say it is important to have a bank branch close to where they live, according to a survey of 2,010 people by research firm ComRes.
The UK had 25 bank branches per 100,000 adults at the end of 2014, according to Citigroup, below the prevailing rates in southern European countries like Spain and France of 70 and 38 respectively but above the average of 17 in the Nordic countries where online banking is more advanced.About half of the UK’s remaining 10,386 branches may disappear in the next five years as people increasingly bank online and lenders cut costs to increase profit, according to research by UBS.European and U.S. banks are expected to cut about 1.7 million jobs in the next decade due to these changes, according to the research by Citi published last week. In the last four years HSBC said the number of customers visiting branches in Britain has fallen by about 40 percent and more than 90 percent of customer contact with the bank is via the phone or internet.
SWIFT Network Wasn’t Hacked In $81 Million
SWIFT’s payment network was not hacked in the $81 million heist on the Bangladesh central bank earlier this year, SWIFT’s chief executive said on Thursday, adding it was unlikely to be the last such attack on a bank.Gottfried Leibbrandt said SWIFT’s network, used by firms and institutions across the world to exchange information about financial transactions, had not been violated during the cyber attack, in which funds were stolen from a Bangladesh central bank account at the New York Fed in February.Security researchers at British defense contractor BAE Systems said last month the hackers had manipulated SWIFT’s Alliance Access server software, which banks use to interface with SWIFT’s messaging platform, in a bid to cover up the fraudulent transfers they had ordered.“At the end of the day we weren’t breached, it was from our perspective a customer fraud,” Leibbrandt said at a financial conference in Frankfurt.
“I don’t think it was the first, I don’t think it will be the last.”The SWIFT messaging network is used by commercial and central banks including the Fed and the ECB.SWIFT, a cooperative owned by 3,000 financial institutions, has rejected allegations by officials in Bangladesh that its technicians made the Asian country’s central bank more vulnerable to hacking before the heist, one of the biggest ever cyber swindles.Bangladeshi police and a central bank official told Reuters the SWIFT technicians introduced security loopholes when connecting the messaging network to Bangladesh’s first real-time gross settlement (RTGS) system.Reuters has not been able to independently verify the allegations.In a letter to users dated May 3, SWIFT told its bank customers that they were responsible for securing computers used to send messages over its network.Representatives from SWIFT, the Federal Reserve Bank of New York and the Bangladesh Bank met in Basel on Tuesday and promised to cooperate to recover the stolen funds, following weeks of accusations over who is to blame.
Trumps Son Threatened in Bid to Force Dad to Quit Campaign
Law enforcement agencies are investigating a threatening letter containing white powder that was sent to Donald Trump\\\'s son, Eric, at his Manhattan residence that said the GOP presidential front-runner\\\'s children are in danger if he doesn\\\'t drop out of the race.Sources told CBS News that the Secret Service, FBI, and New York Police Department are all involved in the investigation into the letter, which the younger Trump\\\'s wife opened at their apartment at Trump Parc East, located at 100 Central Park South.
The powder has been sent to a lab for testing, but a source told CBS that a field test showed the substance did not appear to be hazardous, and nobody was injured. The New York Police Department confirmed that the letter, bearing a Manhattan postmark, had been received and that it responded to a call at about 7:15 p.m., but didn\\\'t identify the recipient as Eric Trump, 32, reports ABC News.
The letter was received amid escalating protests at Trump\\\'s rallies, including unrest that resulted in his decision to cancel an event in Chicago last weekend.
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Earlier this week, Senate Majority Leader Mitch McConnell called on Trump to condemn all violence at his rallies, and House Speaker Paul Ryan said he is concerned about the growing incidents.
On Tuesday, Marco Rubio\\\'s Washington D.C. campaign office was evacuated after white powder was found in an envelope. After the the fire department tested the powder and found that it was not hazardous, employees were allowed back into the office. Rubio, who has since dropped out of the presidential race, was in Florida when the incident occurred.
US Captures ISIS Fighter Who Wont Be Getting Near Gitmo
U.S. Special Forces captured a significant Islamic State operative in Iraq, Reuters and other news sources reported, the first of several expected to be caught in raids by an elite force sent in recent weeks to target the jihadist group’s fighters and leaders.Questions immediately arose about what would be done with those captured alive after they have been interrogated.
U.S. officials said they don\\\'t intend to establish a long-term American facility to hold Islamic State detainees, reported The New York Times, and Obama administration officials ruled out sending any to the U.S. military prison at Guantánamo Bay, Cuba.
CNN said two U.S. officials confirmed the ISIS operative was captured in northern Iraq as part of a highly secretive 200-member targeting team led by the Army\\\'s elite Delta Force. They said the detainee is being interrogated by the U.S. and is expected to be turned over to Iraqi officials in coming days.
The Times said the unidentified detainee was being interrogated in a temporary facility in the Kurdish city of Erbil, but defense officials cited by the newspaper provided few other details.
A Pentagon spokesman declined to comment on details of the force’s missions but said any detention would be “short term and coordinated with Iraqi authorities,” said The Times
Iraqi and Kurdish military spokesmen declined immediate comment, said Reuters.CNN said the secretive U.S. force captured the senior operative in its first missions after spending several weeks on the ground developing intelligence.
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The new intelligence gleaned from raids and interrogations will be used to develop further targeting for follow-up missions.
Special Operations forces captured the wife of key ISIS figure Abu Sayyaf during a raid in Syria last year and subsequently turned her over to Iraqi authorities. U.S. officials have long said the information gleaned from her helped them decide to form a special targeting force, said CNN.
The Times cited Defense Department officials in saying there were no plans to hold the detainee or others indefinitely, and that they would be handed over to Iraqi or Kurdish authorities after they have been interviewed.
Clinton Suffers Primary Setback As Trump Marches Toward November
U.S. Democratic White House candidate Hillary Clinton lost the primary to Bernie Sanders in economically struggling West Virginia on Tuesday, possibly signaling trouble for her in industrial states in the November general election.The defeat slowed Clinton’s march to the nomination, but she is still heavily favored to become the Democratic candidate in the Nov. 8 election to face presumptive Republican nominee Donald Trump.Trump, 69, has zeroed in on Clinton’s long battle with Sanders, the 74-year-old U.S. senator from Vermont. He has taunted Clinton in recent days, saying she “can’t close the deal.” The billionaire Republican won contests in West Virginia and Nebraska handily on Tuesday.Trump has begun to release more policy specifics as he nears his party’s nomination and in the last month has contacted at least two top conservative economists, Larry Kudlow of CNBC and Stephen Moore of the Heritage Foundation, for help revising his tax package, Politico reported on Wednesday.His tax plan has been under scrutiny as he has worked to tone down remarks about raising taxes on wealthy Americans, saying the rich might simply get a smaller tax cut than he originally proposed.
For Clinton, 68, her failure to win over voters deeply skeptical about the economy underscored how she still needs to court working-class voters in the Rust Belt, including key states such as Ohio and Pennsylvania. West Virginia has one of the highest unemployment rates in country.Sanders, who has vowed to take his campaign all the way to the Democrats’ July 25-28 convention in Philadelphia, has repeatedly said he is the stronger candidate to beat Trump in November, and following his West Virginia win, he emphasized economic themes.Trump is set to meet with party leaders in the U.S. Congress on Thursday, including U.S. House of Representatives Speaker Paul Ryan.
After Ryan said last week that he was not ready to endorse Trump, the presumptive nominee said he would have to decide whether he still wanted Ryan to preside over the party’s July convention.Trump said in a Fox interview on Tuesday night that he would like Ryan to chair the convention as planned. “He’s a very good man, he wants what’s good for the party,” he said.Also, Trump said he had narrowed his potential vice presidential choices to five or six experienced politicians, the Associated Press reported on Tuesday.Trump, the presumptive Republican nominee, told the AP in an interview he had not ruled out New Jersey Governor Chris Christie, a former rival now supporting Trump’s bid for the White House.
In West Virginia, roughly six in 10 voters said they were very worried about the direction of the U.S. economy in the next few years, according to a preliminary ABC News exit poll. The same proportion cited the economy and jobs as the most important issue.A remark Clinton made at an Ohio town hall in March that the country would “put a lot of coal miners and coal companies out of business” may have hurt her with voters in coal-mining states such as West Virginia.During Clinton’s visit to West Virginia and Ohio last week she repeatedly apologized to displaced coal and steel workers for her comment and discussed her plan to help retrain coal workers for clean energy jobs.
വായനക്കാരുടെ അഭിപ്രായങ്ങള് താഴെ എഴുതാവുന്നതാണ്.
ദയവായി അവഹേളനപരവും വ്യക്തിപരമായ അധിക്ഷേപങ്ങളും അശ്ളീല പദപ്രയോഗങ്ങളും ഒഴിവാക്കുക.
വായനക്കാരുടെ അഭിപ്രായ പ്രകടനങ്ങള്ക്കോ അധിക്ഷേപങ്ങള്ക്കോ അശ്ളീല പദപ്രയോഗങ്ങള്ക്കോ 24ന്യൂസ്ലൈവ്.കോം , അമ്മത്തൊട്ടിൽ.കോം ഉത്തരവാദിയായിരിക്കില്ല.