Home / Blog Index / The Finanser’s Week: 22nd August – 28th August 2011

The Finanser’s Week: 22nd August – 28th August 2011

 

Our biggest stories of the week are …

Data can be currency, just like salt

We are living in times where I often talk about data being our new currency, and that data is more valuable than money or gold in the context of modern life. This may sound like a joke, but historically no substance has been more valued than salt …..

Data is a currency … we just haven’t realised its value yet  

I wrote about data as a currency, like salt, on Monday and have talked a lot about data as a currency and information wars on this blog over the past year. All of these blog entries are really about BIG DATA. Big Data can be found all over the press these days, as illustrated by this discussion …

Bank branches again …

There’s been quite a lot of coverage recently of the British Bankers Association’s (BBA) report about bank branch closures in the UK. Based upon the stats, UK banks are closing three branches a week. That still leaves over 9,000 branches…

Bribery, corruption and banking 

I’m sitting in a restaurant the other day, and hear the following conversation … Banker One: “So what’s this Bribery Act thingamajig?” Banker Two: “New Law. Came into force July 1st.” mnum, yum, mnum. Banker One: “Yea, I know that, but how does it affect us?” …

Things a banker says, and what they really mean 

I know we see these things all the time – what someone says and what they really mean – but I haven’t seen many for bankers, so here’s a few that I’ve encountered over the years, and my interpretation. What…

 

The major general news stories of the week include … 

Bank shares crash on funding fears – The Telegraph
Bank shares crashed on Monday despite a widespread rally across Europe's major stock markets as questions were raised about their ability to fund themselves.

Putin Calls U.S. 'Parasite' As Russia Buys Its Debt – Business Week
For Russian Prime Minister Vladimir Putin, the U.S. is a "parasite" because its rising debt weighs on the global economy. For his government, the same debt is the safest possible investment

Former RBS chief Sir Fred Goodwin 'threatened staff with disciplinary action over biscuit' – The Telegraph
Having the wrong kind of biscuit served with his tea drove disgraced banker Sir Fred Goodwin to threaten catering staff with disciplinary action, according to a new account of the financial crisis written by Chancellor George Osborne's former chief of staff.

RBS workers on £2,000 a day, email says – The Independent
The salaries of several thousand contractors who work for the Royal Bank of Scotland (RBS) have been accidentally leaked by a recruitment agency employee.

Pot plants in firing line as Goldman Sachs cuts costs – The Telegraph
Goldman's troops are up in arms over the target of the investment bank's latest round of cost cuts – the humble pot plant.

Lloyds takes three suitors for branches through to next stage of bidding – The Telegraph
Lloyds Banking Group has taken all three confirmed suitors for the 632 branches it is planning to sell through to the second round of the bidding process.

Barclays needs to focus on the basics of banking: John Winter interview – The Telegraph
Barclays Corporate chief John Winter sees the need for his bank to get back to fundamentals and has been given carte blanche by the board to transform it.

Bank of America still haunted by Lehman Brothers's ghost – The Telegraph
Doubt has been cast on wether US bank can weather market storm.

Bank of America: a history – The Telegraph
The history of Bank of America stretches back more than 200 years. Here are some of its key moments.

A Woman, A Cupcake, A Bank And A Square: Why Credit Card Companies Are Scared Of Change – Techcrunch
In the sleepy Columbus, Ohio suburb of Canal Winchester there is a shop that makes cupcakes. These are not ordinary cupcakes; these are fantastic cupcakes. In fact the name of this establishment— Fantasy Cupcake —is no boast and can readily back up the hype (trust me, I ate one and …

 

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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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