Things we're reading today include ...
Today's must see:
New PBS series - the Card Game
Today's must read:
The shocking headlines of yesterday is that Dubai and the UAE economy is possibly going bust:
Dubai debt shock knocks £14bn off bank shares - The Independent
Dubai was the poster child of the economic boom: a
world of unimaginable luxury, impossibly tall towers, and islands
shaped like palm trees. This week it became the epitome of recessionary
bust.
Global stock markets were left
reeling yesterday after the city-state's spectacularly debt-ridden
Dubai World holding company asked for an extra six months to pay the
$4bn (£2.4bn) chunk due next month. In London, the stock market dropped
by 3 per cent, its worst day since March. The French and German markets
fared little better, and America's Dow Jones was only saved by being
closed for Thanksgiving.
causing trading panic:
Dubai in deep water as ripples from debt crisis spread - The Times
Dubai finds Eid not such a good day to bury bad news about Nakheel - The Times
Dubai's debt shakes world markets - The Independent
Dubai - Financial Times
Dubai shock after debt standstill call - Financial Times
and big problems for the London Stock Exchange:
Traders 'panic' as LSE hit by double whammy - The Independent
Glitch halts LSE trading as Dubai woes trigger sell-off - The Times
LSE comes under fire after glitch halts trading for three hours - The Telegraph
LCH.Clearnet needs clear path to Washington - Financial Times
Shareholders back Lloyds' record cash call - The Independent
Swedes back down on hedge fund pay rules - The Telegraph
More than 1,000 bankers in the City earn over £1m a year, Sir David Walker says - The Telegraph
Blueprint for future of banks being unveiled - The Independent
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...
