Home / Blog Index / The Finanser’s Week: 31st January – 6th February 2011

The Finanser’s Week: 31st January – 6th February 2011

 

Our biggest stories of the week are …

Innovations in Banking in Action 

Finovate launched its first European show yesterday with over 400 attendees and 35 presentations from firms covering the whole gamete of financial services from investing to payments, personal financial management (a load of that!) to biometrics. All of them on the leading-edge of innovation in finance.

If you innovate, I will follow 

Sometimes I get into a rant, and I got into a bit of one at Finovate. It was during the lunchtime session, and a banker said to me that they liked all the presentations during the morning but wouldn’t be…

The Card & Payments Awards 2011 

For the third year running, I was involved in the Card & Payments Awards. This year I was one of the judges and, last night, the sixth annual ceremony took place at the Grosvenor House in London hosted by comedian, Marcus Brigstocke.

The next financial crisis is … 2015? 

Oliver Wyman launched a new report at Davos last week that has garnered a few headlines. Titled: “The Financial Crisis of 2015: An Avoidable History”, they suggest that although financial services executives and regulators have worked hard to design a more stable financial system, they might fail as there are other market stresses that could occur.

A moral compass for banking 

Talking about best execution and stuff today, we got into a debate about whether banks were worried about trashing the trust of customers or were concerned about changing behaviours. My response is that banks will soon be measured by their moral compass …

Making cents of grains of sand 

I often use the analogy that traditional money is the bedrock foundation of our society, but this is changing. It began to change gradually as we introduced alternative currencies, such as loyalty programs and airmiles. These form pebbles of commerce…

 

The major general news stories of the week include …

Could the UK live without The City? – BBC  

Many believe the financial sector is vital to the survival of the UK, but bankers have never been so unpopular. BBC Newsnight's Paul Mason asks if Britain could survive without them.

Bank of America Top Bank Brand, Goldman Is 16th, Survey Finds – Business Week

Bank of America Corp., the biggest U.S. bank by assets, replaced HSBC Holdings Plc as the world’s most valuable banking brand, according to a survey by London- based Brand Finance Plc.

India: Identifying a billion Indians – The Economist

Reliable identity numbers could create many opportunities for business IN A small village north-west of Bangalore, peasants queue for identities. Each man fills in a form with his name and rough date of birth, or gets someone who can read to do it for him. He places his fingertips on

Deutsche's profits below estimates – The Telegraph

Deutsche Bank has reported fourth-quarter pre-tax profit significantly below forecasts.

Bankers face shock over deferred bonuses – The Independent

Thousands of bankers are set for a nasty shock when their bonuses arrive, as the majority of them still do not realise that much of this year's payout must be deferred.

Ex-LSE director set to head up new watchdog – The Telegraph

A former director at the London Stock Exchange is on the verge of being named as head of the new Consumer Protection and Markets Authority (CPMA), after it is spun out of the Financial Services Authority (FSA).

Regulators and banks in cat-and-mouse game – Financial Times

There are only two ways of restoring sanity to a mad system. The first is that banks and their shareholders come to accept that the supercycle really is over. The second is another and bigger crash.

RBS to push into low-risk retail funds – The Independent

Royal Bank of Scotland will today launch a significant push into retail fund management, as it looks to become one of the biggest players in a £40bn market.

Analyst Warns of 2015 Bank Crisis Amid ‘Upbeat’ Davos – Business Week

As politicians, executives and financiers networked at parties and panels last week in Davos, Switzerland, Barrie Wilkinson was in a nearby hotel, warning that a 2015 financial catastrophe may be looming.

Mortgage broker sues FSA for libel – The Telegraph

The Financial Services Authority is used to its fair share of lawsuits. But in what is believed to be the first of its kind, a mortgage broker is taking the watchdog to task – for libel.

 

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About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.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...

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  • “Could the UK live without the City? – BBC”
    The answer must be,’it all depends on what you mean by survive?’ – but it’s fitting that this link is about something by the BBC on the City. I recently posted elsewhere on this very subject.
    On a recent BBC Question Time (from Glasgow) we had the increasingly arrogant and near-pompous David Dimbleby abruptly cutting-off Scottish Government Minister Nicolas Sturgeon for daring to raise something that Dimbleby professed was not for a ‘programme with a UK audience’. We Scottish viewers then had to endure a long session of discussion on this programme entirely devoted to London Mayor Boris and local London politics.
    More recently, we have had producer resignations and ‘Lord God’ Dimbleby issuing belicose retorts at the planned move of Question Time production facilities to the new BBC Regional HQ in Glasgow. This is a perfectly sensible business proposal to save the disproportionate costs of continuing,ludicrously, to base production activities in or around London. But it’s not convenient to the likes of the Dimblebys (or the Paxtons) – but then again, maybe they are accustomed to long and easy living off the backs of a, previously, financially irresponsible and feckless BBC?
    Those of a Scottish or Welsh nationalist disposition must be increasingly heartened by how the dysfunctional position of Metro London and all its institutional and cultural webs is afflicting all other parts of the U.K. The Economist magazine (hardly an SNP hotbed) this week has some very incisive copy on this issue, including:
    “ One common observation made by visitors to England is the extent to which the dominance of London, one of the world’s truly global cities, makes its south-eastern half feel like the hinterlands of a city-state. This week, we argue that London is so distinctive that it is beginning to evolve its own, unique political idealogy that is pro-finance, pro-immigration and hungry for investment.”
    http://www.economist.com/node/18073240?story_id=18073240
    I demur only in challenging anyone who thinks that any region in the UK outside of Metro London is not also ‘hungry for investment’.