The latest step in Standard Chartered’s plans to save $400m this year will see it cut its cash equities business and cut a further 2000 retail jobs.

Good news for SWIFT users: the company has announced plans to give a 10% rebate on its 2014 messaging fees – a total of more than €30m, according to SWIFT.

Top Chinese internet company Tencent has launched the country’s first private online bank, called WeBank after the company’s popular messaging app WeChat.

Charter Savings Bank is due to join other UK challenger banks in the UK come spring as an online-only savings bank.

The UK and the US may be famous for over-inflated CEO pay packages, but now it seems that the pay of top-level German managers is outflanking the Brits.