Things we're reading today include ...
Today's must read
PayFail: PayPal And Its APIs Go Down, Online Shopping Grinds To A Halt (Techcrunch)
"PayPal’s
online purchasing service is down for the count. While the site itself
appears to be loading (though very slowly), numerous buyers and venders
are reporting that sales are not going through."
Barclays and HSBC buoyed by investment banking boom (Guardian)
HSBC profits dragged down by US lending (Guardian)
ANZ to clinch RBS deal soon
(Straits Times)
JPM's Dimon was Paulson's go-to guy (New York Post)
BofA pays $33m fine over Merrill bonuses
(Times)
US Securities and Exchange Commission censures Bank of America over Merrill $5.8bn bonus payments
Barclaycard turning away more than half of applicants
(Guardian)
Investors wary of Myners’ voting rights idea
(Financial Times)
Bank of England governor urged to keep cash taps running
(Guardian)
Gordon Brown is wrong, Britain played a part in Icelandic bank collapse
(Telegraph)
Scammers Try to Hack Hackers With Crooked Cash Machine (Tech News World)
Quote of the Day
"After each successive
crisis, the cry goes up: 'Down with the bankers!' Tie them up and
incarcerate them so they can never do this to us again. But it never lasts.
As the good times return, the desire and momentum for change dissipates, the
bankers return from their bolt-holes and the cycle begins again."
To sink bankers' yachts will require more competition (Telegraph)
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...
