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Things worth reading: 7th October 2009

Things we're reading today include …

Today's must read:

"One employee of a large bank discovered that his entire division was being eliminated via a Reuters wire."
11 Horrific Layoff Stories (Billshrink)

Companies

Amazon Mobile Payments Service – Monetize your mobile applications or website easily with Amazon Payments (Amazon Payments Blog)
First Direct sorry for text mess (Register)
HSBC boss says banks owe apology (BBC)
HSBC will delay raising dividend if new capital rules come in too hard and fast (Times)
Lloyds and Barclays to face group action (Financial Times)
Julius Baer to buy ING’s Swiss private banking unit (Financial Times)
Santander Brazil raises $8bn in IPO (Financial Times)

London Stock Exchange's market share falls to all-time low of 60pc (Telegraph)
Société Générale raises €4.8bn (Financial Times)
Teza Programmers Uploaded Unwanted Code, Judge Told (Bloomberg)

Markets

HFT-Quants beat Lazy Portfolios in 'The Singularity' (MarketWatch)

Regulations

FSA's Lord Turner calls for tougher cross-border bank rules (Telegraph)
Conservatives threaten punitive taxes if banks refuse to curb bonuses (Telegraph)

Economies

China calls time on dollar hegemony (Telegraph)

Quote of the Day:

"Two-thirds of our business is in Asia. It's where we think the centre of gravity of the world's economy is shifting."
Stephen Green, Chairman, HSBC

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About Chris M Skinner

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.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…

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