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☆ UK banks’ Big Bang thankfully looks like big flop
▼ + stars: | 2022-11-30 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

Yet, the mooted changes would probably only benefit middling lenders like Santander UK, Virgin Money (VMUK.L) and Banco Sabadell’s (SABE.MC) TSB Bank, according to the FT. And on Wednesday, the BoE’s supervisory body said it planned largely to stick to international bank-capital rules, dubbed Basel 3.1. But the big flop might not be such a bad thing for the country’s financial sector. Separately, the government’s City minister Andrew Griffith said on Nov. 29 that he wanted to relax the so-called ringfencing regime that forces large British lenders to separate their retail and investment banking arms. According to the Financial Times, the ringfencing regime would still apply to the biggest UK banks but there could be exemptions for lenders with limited trading operations including Santander UK, Virgin Money and TSB Bank.

☆ ‘There’s no rules. It’s crazy’: New money in NCAA recruiting leaves elite athletes ripe for exploitation
▼ + stars: | 2022-11-27 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kit-Ramgopal-Byline.Jpg | Kit Ramgopal | ) www.nbcnews.com time to read: +15 min

Instead, the coveted junior recruit was benched, due to a decision from the state’s governing body for high school sports. Meanwhile, in a growing number of states, including California, even high school athletes can enter contracts. But boosters can pay prospective students through NIL deals, as long as the money is not contingent on enrollment or athletic performance. A University of Miami booster has earmarked $10 million to sign players to NIL deals through his companies. Cunningham’s message to high school athletes is “the grass isn’t always greener,” even in California.

☆ Sabadell Q3 net beats forecasts on lending income, lower costs
▼ + stars: | 2022-10-27 | by ( Jesús Aguado | ) www.reuters.com time to read: +2 min

The country's fourth-largest bank in terms of total assets reported a net profit of 317 million euros ($319.06 million) for the July-September period. Analysts polled by Reuters expected a net profit of 221 million euros. At a group level, third-quarter net interest income rose 10% from a year earlier to 965 million euros, compared with analysts' forecast of 917 million euros, and it also rose 7.4% against the previous quarter. Against that background, Sabadell revised the bank's net interest income guidance up to a double-digit growth for 2022 from a previous mid-single digit growth forecast on the back of higher interest rates. Total costs fell 30% in the third quarter against the same quarter a year ago though were 1% higher compared to the previous quarter.

Palestinian volunteers participate in organising the sixth edition of the Red Carpet Film Festival, at a newly renovated theatre in Gaza City, October 13, 2022. While Gazans have been able to go to movie screenings which are held from time to time at theatres and other venues, such a full bill of films is a rare treat. The festival's executive manager, Montaser Al-Sabe said he was proud of the festival in Gaza but that he hoped cinemas would open up again. "Cinema is a civilised and important means to get the voice of children and the people of Gaza to the world." But for some, the festival will be all about the simple pleasure of going to the cinema and watching a movie with loved ones.

☆ Caixabank proposes sector-wide freeze in variable mortgage costs, source says
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

MADRID, Oct 11 (Reuters) - Caixabank (CABK.MC), Spain's biggest lender by domestic assets, has proposed a sector-wide measure to cushion the rise in payments on variable mortgage contracts for a year, a source with direct knowledge of the matter said on Tuesday. The source said that the proposal was being debated among lenders and could still change. Register now for FREE unlimited access to Reuters.com RegisterThe Spanish banking association (AEB), the country's economy ministry and Caixabank declined to comment. The association for savings banks CECA, of which Caixabank is a member, was not immediately available for comment. Caixabank is the market leader in the mortgage business in Spain with a 25.4% share as of June.

The Banco Sabadell logo can be seen behind leaves on top of a building outside Madrid, Spain, April 13, 2016. REUTERS/Andrea Comas/File PhotoLONDON/MADRID, Sept 21 (Reuters) - Spanish bank Sabadell (SABE.MC) has received indicative bids from France's Worldline (WLN.PA), Italy's Nexi (NEXII.MI) and U.S. firm Fiserv (FISV.O) for its payments arm, with a deal valued at up to 400 million euros ($393.64 million), three sources said. Register now for FREE unlimited access to Reuters.com RegisterSabadell, Worldline, Nexi and Fiserv declined to comment. In Spain, Sabadell has a strong presence on the payments front and accounts for close to 16.3% of the country's overall revenue generated at the point of sale (POS). Its payments arm, which is mainly focused on consumer lending, has core earnings of about 25-30 million euros, one of the sources said.

Luis de Guindos, vice-president of the European Central Bank, speaks during a Reuters Breakingviews event in New York, U.S., April 25, 2019. Register now for FREE unlimited access to Reuters.com RegisterEven though higher interest rates are boosting banks' financial margins, De Guindos said that a banking levy right now could have negative side-effects. "We could find ourselves in a situation that requires higher provisions" from banks to cope with higher loan losses. "We don't have to look just at the short term, let's look beyond it," De Guindos said, warning of the risks to the companies most affected by the energy crunch. The Spanish government wants the legislation approved before the end of the year.

☆ Frustrated pharmacists are opting out of the insurance system, saving some customers hundreds of dollars a month
▼ + stars: | 2022-08-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Headshot_Small.Png | Adiel Kaplan | ) www.nbcnews.com time to read: +14 min

Hux has owned Pickerington Pharmacy, which takes nearly every kind of insurance, since 2016. For some drugs, especially name-brand medications without generic alternatives, the insurance pharmacy, Pickerington, will most likely be the better bet. For other drugs, particularly those that have recently gone generic, it will be the all-cash pharmacy, Freedom. Or is it the noninsurance world?”For Kitchen, a retired registered nurse with arthritis and fibromyalgia, it was the noninsurance world of Freedom Pharmacy. By cutting out the middlemen, Freedom Pharmacy is far cheaper to operate.

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