Things worth reading: 23rd July 2009

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)

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