Our biggest stories of the week are ...
Survey: are payments infrastructures fit for purpose?
We've had a lot of dialogue about interoperability and the difficulties of getting all the pipes and plumbing of payments to work together. The real question is whether payments processors are meeting the challenges of the world of 2011? To find out, we are launching a survey to see what readers think of SWIFT, EBA, Fedwire and other clearing systems. To join in, click: https://www.surveymonkey.com/s/P5KN6V3
Let the bank tax and accounting wars begin
After the bank reporting season in the UK last week, the most notable row that has emerged – alongside bonuses and a lack of lending – is the lack of taxes banks pay. Banks are remarkably adept at being tax...
I’ve got a new theme building about money being worthless, useless, rubbish, a waste of space … you name it. Not real money of course, but money as a concept. It no longer works in the modern world. Money is...
Comparison websites market heats up
After Google spent over $60 million buying the website Beat that Quote - which compares mortgage, deposit account, credit cards, insurances and more - this week, the market for comparison websites heats up. What is happening in these markets, who is the leader, what are the demographics? A new Nielsen study provides some interesting insights.
Banking run by secret "gentlemen's agreements"
I got a note yesterday from a friend in Turkey who brought to my attention that the Board of Competition fined seven of their banks for working together in a cartel-style operation that was anti-competitive. They called it “a secret...
The major general news stories of the week include ...
Raj Rajaratnam: Wall Street's biggest insider trading trial in a generation: a Q&A - The Telegraph
The trial of billionaire hedge fund Raj Rajaratnam on insider trading charges is scheduled to begin on March 8. It's the biggest of its kind that Wall Street has seen in a generation. Here's what it's about.
McKinsey model springs a leak - Financial Times
That a former leader's conduct has been questioned has shaken McKinsey's 1,300 partners. They are right to be shocked as the scandal goes to the heart of the consultancy's identity and reputation, writes John Gapper
Lloyds boss to oust senior executives - The Telegraph
Two of Lloyds Banking Group's most senior board directors are set to leave as part of a shake-up by the bank's new chief executive.
New Lloyds chief shakes up operations - The Independent
The new boss of taxpayer-backed Lloyds Banking Group stamped his mark on the bank today by unveiling a shake-up of its insurance and retail divisions.
Santander's Ana Patricia Botin Plans U.K. IPO - Business Week
Ana Patricia Botin, the boss’s daughter, has come to the U.K., where she will have the chance to prove she can lead the bank in Spain that her family has run for more than six decades.
Bob Diamond interview: a new dawn breaks for Barclays - The Telegraph
Bob Diamond, the new chief executive of Barclays, outlines his group vision on a trip to Africa.
UK bank bonuses vs US bank bonuses - The Telegraph
Barclays chief executive Bob Diamond has been handed £10.1m in salary, bonus and stock for his performance in 2010. The pay-out makes him the UK's best-paid bank boss. But as far as bonuses go, he is still trailing behind his US rivals.
RBS had 'six lessons' to learn from bank's collapse - The Telegraph
Lack of balance sheet control and a culture of "right said Fred" surrounding former chief executive Goodwin led to Royal Bank of Scotland's downfall.
Peseta back in use in Spain town – BBC
A small town in northern Spain reintroduces the old Spanish currency - the peseta - alongside the euro to give the local economy a lift.
Europe serves up another charade on bank stress tests - The Telegraph
The latest round of EU bank stress testing is going to be about as testing as the last one, which famously found both Allied Irish Banks and Bank of Ireland to be perfectly solvent.
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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...
