Things we're reading today include ...
Today's must read
Wall Street
Takes Break for Tiger Woods Apology - Bloomberg
For a few minutes, Tiger Woods
was
bigger than Ben S. Bernanke. The CHART OF THE DAY shows that a day after the Federal
Reserve chairman and his colleagues raised the rate charged to
banks for direct loans, investors took time out from trading to
watch Woods apologize for his marital infidelity and “repeated
irresponsible behavior.”
Bonuses
Stephen Hester lines up £1.6m RBS bonus - The Times
RBS boss defuses row by agreeing to give up £1.6m bonus
- The Independent
RBS and Lloyds bosses urged to decline bonuses - The Independent
People
Barnier visits City in bid to calm anger over EU
regulation plans - The Telegraph
Paulson sorry he blamed UK for Lehman failure - The Times
Lord Mandelson backs state investment bank plan -
The Telegraph
Companies
Metro Bank: 'we'll put an end to stupid rules' - The Telegraph
Metro board fills five seats - The
Telegraph
BoCom seeks to raise $4bn in capital - Financial Times
Northern Rock could buy RBS and Lloyds branches - The Times
Economies
Our world balances on a sea of debt
- The Telegraph
So where did all the money go? - The Telegraph
Irish bank rescue plan 'lies in ruins' - Financial Times
Eurozone lines up £22bn Greek aid - The Times
Crisis? Blame the baby-boomers, not the bankers - The Times
Regulation
Tobin tax - Financial Times
Credit card rates 'unjustified' - BBC
Quote of the Day:
"Do you build a bank for the one in 10,000
people who are going to rob you or to give a better experience to the
9,999
who come in every day?"
Vernon Hill, founder of about to be launched Metro Bank
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...