Things we're reading today include ...
Today's must read:
"'The idea that London is going to be full of tumbleweed in 10 years is not
credible,' Savvas Savouri, chief economist at Tosca ... instead, Mr Savouri predicts that London will attract at least 100,000 new
financial jobs in the next 10 years, as the growth of the Bric economies –
Brazil, Russia, India and China – works in the City's advantage."
City's financial sector to grow by 100,000 new jobs within 10 years, predicts hedge fund - The Telegraph
"London will lose ground as a financial centre to Hong Kong, Singapore and
Shanghai regardless of regulators' controversial reactions to the banking
crisis, one of the UK's leading financiers has warned."
The City's star is fading, CBI warns - The Telegraph
Companies
Northern Rock renews £10m sponsorship deal with Newcastle United - The Independent
New bank Walton & Co receives pledges of £95m from Invesco Perpetual and M&G - The Telegraph
They came to Goldman Sachs’ oracle in search of wisdom and were told to buy lots of equities - The Times
Bonuses
Bonus taxes are a weak weapon - The Telegraph
Myners plans to host 'global debate' on new bank levy - The Independent
Markets
IMF head in 'double-dip' warning - BBC
India warned over governance - Financial Times
Chinese online revenue 'surges' - BBC
Quote of the Day:
“At Cambridge all the party invitations go out on Facebook,” he said. “So if you don’t have Facebook, you won’t get invited to any parties, so you won’t have any sex, so you won’t have any children, so your genes die out. So it’s an evolutionary necessity to be on Facebook.”
Ross Anderson, Professor of Security Engineering at Cambridge University
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...