Things we're reading today include ...
Today's must read:
Former Goldman Sachs employee charged with stealing trade secrets (Guardian)
The information stolen from Goldman is "software code that drives a platform performing 'sophisticated, high-speed and high-volume trades on various stock and commodity markets' by quickly obtaining and analysing information about changes in market conditions."
UK:
FSA gets tough as it threatens to triple abuse fines (Independent)
Business warns of 'double-dip' slowdown (Independent)
Slow but inexorable move to cyberspace banking (Financial Times)
Treasury to delay bank overhaul until 2010 (Telegraph)
City firms scheme to hide bonus boom from HMRC (Times)
The City doesn't need any more rules (Telegraph)
USA:
The CEO hostage crisis at BofA (New York Post)
AIG brands Greenberg ‘a liar’
(Financial Times)
US financial players look to investment banking again for profits (Independent)
US banks look in vain for private equity rescue (Times)
Asia:
Chinese officials call for end to dollar's global dominance (Telegraph)
World:
The challenges facing the G8 (BBC)
Quote of the Day:
"I am sorry, we made a mistake. We are sorry we also reduced aid to Africa."
Silvio Berlusconi to Bob Geldof
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...
