Money & Finance

Following the US drone strike that killed Iranian commander Qasem Soleimani, Iran retaliated by firing over 12 ballistic missiles at American airbases in Iraq. The incident triggered a significant rise in crude oil prices, reaching $65.65 per barrel, amid growing concerns about potential disruptions in Middle East oil supplies.

London-based foreign exchange company Travelex was hit by a ransomware attack on New Year's Eve, forcing global system shutdowns. Cybercriminals demanded $3-6m ransom, threatening to sell client data. Major business partners like HSBC, Asda, and Virgin Money were affected, leaving customers unable to access funds.

US-Iran tensions have sparked market volatility as stocks fall and oil prices surge. Following a US drone strike that killed top Iranian General Qasem Soleimani, fears of potential military escalation are driving market uncertainty. Crude oil prices responded quickly, with markets on edge awaiting potential retaliatory actions.

Customers of Clydesdale and Yorkshire Banks are experiencing significant disruption as salary payments are delayed. Many account holders, including parents like Libby Horbury, report no funds entering their accounts after Christmas, raising concerns about financial stability and bank responsiveness.

China's Ant Financial, the world's highest-valued FinTech company, has applied for a digital wholesale banking license in Singapore. This move follows similar bids by Grab and Razer, as Singapore offers five virtual licenses to encourage banking innovation and create new digital lenders in the global financial center.

Major global stock markets showed subdued performance on Christmas Eve, with Japan's Nikkei slipping 0.2%, U.S. markets closing mixed, and European indices like FTSE 100 and CAC showing minimal movement amid light holiday trading volumes.

World Bank President David Malpass calls for prioritizing debt management in emerging economies, highlighting a record $55 trillion debt accumulation in 2018 and potential global financial risks.

The Bank of England is implementing rigorous climate stress tests for banks and insurance companies to assess and manage potential economic impacts of environmental changes, highlighting the interconnected nature of climate and financial systems.