Things we're reading today include ...
Today's must read
Voice technology firm under fire (BBC)
"Spinvox's service aims to convert voice messages into text messages using advanced speech recognition software. But
claims to the BBC suggest that the majority of messages have been heard
and transcribed by call centre staff in South Africa and the
Philippines."
Companies
Lloyds bounces on talk of H1 profits (Reuters)
HSBC firms fined over £3m for information security failings (FSA announcement)
FSA Fines HSBC Firms for Data Security Breaches (Wall Street Journal)
Morgan Stanley loss ends run for upbeat banks (Times)
Wells Fargo reports $3.17bn in earnings (Financial Times)
Yes, Carlyle Group, You Have A Facebook Squatter (Wall Street Journal)
UK
Economy to shrink less than expected, says Bank (Times)
Bank of England adopts wait-and-see approach to recession-mired economy (Guardian)
UK economy will only make full recovery in 2014, thinktank warns (Guardian)
Europe, Asia and the USA
Guaranteed bank bonuses 'absolute disgrace', French finance minister says (Guardian)
Germany politicians feel the pain as banks hoard cash (Telegraph)
German banking (Financial Times)
HK banks agree to compensate minibond investors $813 mln (Reuters)
US to clamp down on ratings agencies (Telegraph)
Consumers hoard 38m unused credit cards (Telegraph)
Quote of the Day:
"At a time when pay and corporate governance are key issues in terms of
re-drawing financial regulation, the committee feels it is important to
highlight the issue of gender equality in the financial services
industry." John McFall, Chairman, Treasury Select Committee
MPs to investigate sexism in City (BBC)
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
