Things we're reading today include ...
Companies:
Barclays to close pension to 17,000 workers (Times)
Lloyds Banking Group to cut a further 510 jobs (Telegraph)
Markets:
Exchanges warn on OTC clearing (Financial Times)
Merkel mauls central banks(Financial Times)
FDIC stalls sale of toxic loans (Financial Times)
Rise in global corruption fears (BBC)
The Barter Economy Returns (Mint Blog)
Banks should pay for their own bailouts (Telegraph)
The Way We Pay 2009 - UK Cash & Cash Machines (Payments News)
Online Banking’s Innate Security Flaws (Information Security Resources)
Economy:
Current economic and financial conditions and the federal budget (Speech by Ben Bernanke before the US House of Representatives)
Recovery could arrive much sooner than expected (Independent)
Services sector data raises hopes that economy could soon return to growth (Guardian)
EU service sector confidence 'up' (BBC)
Why green shoots are bad for financial regulation (The Deal)
Recession: 95pc of finance professionals expect downturn to continue (Telegraph)
Neil Woodford: ' A recovery is a hell of a long way off' (Telegraph)
Finally, this headline:
Manchester United name Aon Corp as new £80m shirt sponsors (Guardian)
is AON giving AIG one big poke in the eye!
Quote of the Day:
"They were a people so primitive that they did not know how to get money except by working for it."
Joseph Addison
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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...
