Our biggest stories of the week are …
It’s pretty clear that regulatory systems haven't worked and realised what the mistake was the other day. It’s a four-phase issue, summarised as regulatory DUPE:
- Proposition; and
Standard & Poor's sent a note yesterday that states, between 1981 and 2010, the average five-year default rate for investment grade corporate issuers has been 1.2%, compared with 17.5% for speculative grade companies.
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And so the long awaited Independent Commission on Banking (ICB) produced it’s report yesterday, and we all went … hmmmm. Some went hurray: Shares in Barclays and Royal Bank of Scotland topped the FTSE…
I’m intrigued about how we use the net socially. Via mobile and laptop, tablet and TV, we now exchange lots and lots of personal information with anyone and everyone. I’ve often said this can be dangerous. By way of example, I use the story of tracking down a bank’s call centre manager via facebook, and using her family photos to find out her behaviours and habits. Then I might hold her kids at ransom, unless she defrauds the bank. Unfortunately, that's a true story.
You may have seen the T-Mobile UK ads, where a flashmob arrive at Liverpool Street Station and start a song. It's feelgood stuff, brings a smile to your face and is just, well, 21st century cool. So it's nice to see a bank nick the idea and run this in the USA.
Gartner estimate cloud computing will grow from a market worth $36 billion in 2009 to over $160 billion by 2015, with around a fifth of all firms relying on the cloud for significant parts of their technology operations by 2012….
The major general news stories of the week include …
Here are the key recommendations of the Independent Commission on Banking in its interim report to make the banking system more competitive and less vulnerable to crises.
Britain's biggest banks are bracing themselves for a government-commissioned report tomorrow that will recommend a fundamental overhaul of the way they do business.
Fiserv sponsored a survey of top US banking executives to see where they stand regarding mobile. Forrester surveyed 15 decision makers in October 2010 from top tier U.S. banks and credit unions to evaluate the current and future state of mobile banking and payments within their organizations.
Lloyds Banking Group is considering splitting the bank into two in a move that would create a "non-core" bank filled with assets ready for disposal.
Bank of Ireland has announced losses of almost 1 billion euro (£889.9 million) for last year.
Allied Irish Banks (AIB) announces plans to cut 2,00 jobs over this year and next, as it seeks to reduce costs.
Deutsche Bank is said to be planning a reorganisation of its US operations to avoid the possibility of having to raise billions of dollars in extra capital.
The 42-storey Canary Wharf tower which houses the European headquarters of Citigroup is being put up for sale for more than £1bn, the commercial property agents Jones Lang LaSalle said yesterday.
Jamie Dimon, chief executive of JP Morgan Chase, has said American regulators should do "what's good for the US, not what's good for Europe"
Goldman Sachs cost two Silicon Valley entrepreneurs more than $100m (£61m) by tricking them into selling shares in the company they founded, a lawsuit alleges.
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