The biggest news stories of the week include …
- Value of LSE trades falls by a third – The Times
- Senate committee approves Finance Bill – The Times
- Six are questioned over insider dealing after dawn
raids by FSA – The Times
- The great global trade war and why it didn’t happen
– The Times
- Financial crisis tale to make the blood boil – Financial Times
I just got around to catching a few paragraphs from David Broder's
fascinating column in the Washington Post a few
days ago, about Congress in the USA talking about America's debt mountain and whose fault it is. Compare theirs with Britain's and there's little issue.
Good friend of the FSClub Emmanuel Daniel joined us this week to
talk, about the future of banking and the rising influence of Asian
banks, especially those from China and India. The thing that surprised me most is that we haven’t seen an Asian bank
become truly global yet, by buying an American or European major bank.
So, we are finally seeing some new retail banks launched in
Britain for the first time in, oh, living memory? Now, we have a sudden flush
of new banks coming into the markets and, focusing upon Virgin and
Tesco’s strategies as these are the major players trying to threaten
traditional UK retail banks dominance, it’s interesting to see how the
new competitive battleground will play out.
Data Monitor kindly sent me some slides about Tesco, Virgin and Metro
Bank after my blog this week. See their take on the world here.
I recently wrote a little piece about CESR, the EU
Securities Regulator, and their update to Dark Pools regulations. It
got quite a reaction, including feedback from some of the dark pools
regulators themselves, who 'corrected' the view that the Best Bid-Offer
had been updated by making it clear that nothing had actually changed
Earlier this year we surveyed the Financial Services Club members
and readers of the Finanser for their views on social networking and
social media in banking. In February, we published the initial results as a qualitative report and now
we have crunched the numbers to produce the quantitative report. There were 444 respondents to the survey …
I just received the 10-page summary of this year's IPS show. Great document produced by the
indomitable Heather McKenzie – good job. Here's a little
snippet to wet the appetite of those who missed it …
I guess these desperate times cause desperate actions, as the last
few weeks must have created the funniest spate of bank robberies ever
seen. First, there was the Russian Sumo wrestler who wrestled an
ATM out of the wall …
Don’t get me wrong, I love France and most things French,
particularly the South of France and the Cote d’Azur,
Tourettes-sur-Loop, Bordeaux and Provence. Beautiful. But get me to
Paris and my love affair with France always seems to fly out of the
window. Take my latest trip, by way of example.
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