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The Finanser’s Week: 30th May – 5th June 2011

 

Our biggest stories of the week are …

That Gold dispensing ATM in action …

This week, it’s the lovely Abu Dhabi for a few days at a conference that’s now in its seventh year: MEFTEC.  Managed to take a day off on the first day and toured Abu Dhabi with one of the sights being the multibillion dollar Emirates Palace Hotel and its gold dispensing ATM …

Why governments are failing to regulate the internet

As mentioned, am in Abu Dhabi this week and will write more about the conference content during the course of the week but, today, am struggling a little bit as my blog is banned here.  It’s the first country I’ve been to in my travels where I cannot actually see my blog …

Why banks are failing to manage money

OK, down to business. What has the failure of government to regulate the internet got to do with banks? Quite a lot actually as governments and banks are closely intertwined, as demonstrated throughout this financial crisis. Banks control economies and…

Isn’t social banking just a marketing thing?

One of the questions that came up in Abu Dhabi is that Social Media is great, but what’s it go to do with the CIO? CIOs are the main audience here at MEFTEC and media is a marketing thing isn’t…

Can't take my eyes off of you

For a long, long, long, long, long, long time, I’ve talked about biometrics taking off in banking … and it hasn’t.  The biometrics market has picked up and tailed off in fits and starts, but there is no real mainstream biometric program out there that I’ve spotted to date.  Until now maybe …

How banks are becoming PayPals           

There was an interesting statement from one of the banks at this week’s conference: “we wish we could just take a real-time NFC payment direct from the mobile contactless terminal in the merchant and straight through to the customer's deposit account without ….

 

 The major general news stories of the week include … 

EU plans to strip UK of bank regulation powers – The Telegraph
Sovereign control of financial regulation is under threat from European moves to harmonise rule books across member states, the three men at the heart of the future Bank of England have warned.

Regulation's impact on global markets – Financial Times
The general objectives might be consistent, but the different regulatory paradigms in the US, Europe and Asia have become increasingly visible and the resulting changes are, many fear, becoming less co-ordinated.

Who are the masters in the art of regulation? – The Telegraph
Damian Reece on who will shape the UK's new financial regulation regime.

Financial reforms have caused civil war in the Coalition – The Telegraph
U-turns, policy rethinks and Whitehall infights have created an ugly situation.

Bank of England spends £234,000 on chauffeur-driven cars – The Telegraph
The Bank of England is spending almost £250,000 a year on providing chauffeur-driven 'secure cars' for its three most senior staff.

Google Wallet Roundup – Commentary, Reaction, and Analysis – Payments News
Last week's Google Wallet announcement is generating a lot of commentary, reaction, and analysis on the Web: MIT Technology Review: Google Wallet: Who'll Buy In? Monday Note: Google Wallet: Big Deal or another Buzz? Mobile Commerce Daily: Macy’s Steps Up Mcommerce Game via Google Wallet Partnership Search Engine Land: With

Gaffe over Olympic ticket payment – BBC
More than 100 people who applied for tickets for the London Olympics have had their purchases declined after a mistake by Barclaycard.

UKFI wants Northern Rock to be sold for £1.4bn – The Telegraph
The body that holds the UK taxpayer's stakes in the bailed-out banks has recommended Northern Rock be sold for at least £1.4bn rather than remutualised.

Glencore in the spotlight as EIB freezes lending – The Independent
The European Union's financing arm has frozen all lending to the Swiss commodities trading giant Glencore, citing "serious concerns" about governance at the FTSE 100 listed firm.

Barclays 'may buy Spanish bank' – BBC
Barclays is looking at the purchase of one of Spain's regional savings banks, says a newspaper report.

 

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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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