Things we're reading today include ...
Today's must read:
Key reform call Varley needs to make, Anthony Hilton commentary, the Evening Standard
“The crucial bit is what he left out. The really significant comment in the article was not the Noddy guide to investment banking but his putting distance between his firm and proprietary trading, because this plays to a significant strand of opinion in the 'too big to fail' debate.”
Bankers intent on flouting pay rules should quit mainstream, says Myners - The Times
State has 'legal right' to pursue banks for cash says Paul Tucker - The Telegraph
10% tax on bank profits proposed - BBC
Bonus crackdown plan 'dangerous' - BBC
City’s fury at Darling plans to curb banks’ bonus culture (Evening Standard)
Europe's money markets regain their poise - Financial Times
UK banks may face new rules on derivatives - The Times
EU plans for financial superregulator are 'hasty' warn MPs - The Telegraph
JP Morgan on the verge of acquiring Cazenove - The Independent
At Checkout, More Ways to Avoid Cash or Plastic - New York Times
China has now become the biggest risk to the world economy - 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...
