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The Finanser’s Week: 7th May – 13th May 2012

Our biggest stories of the week are …

Billions of reasons to use social media in business

Interesting dialogue about social media in finance. Social media is so wide and vast today that it’s hard to cover in one blog post. Most people think Facebook and twitter when you say social media (eight and five years old respectively), but it’s far more than that these days. It’s Groupon, foursquare, YouTube, Tumblr …

Banks and corporates live in the twentieth century

I was surprised or not to have a long discussion with some bankers and corporates about personalisation last night. My contention was that a bank should know that they have an influential corporate treasurer decision maker as a business client,…

In finance, facebook is just a phase we're going through

My grumpiness just got ten times worse at this treasury conference, as I stood up and started talking about how I use facebook, twitter, blogging etc to leverage my business. I could see a veil of abandonment enter the faces…

Who moved my rock?

I often use two discussion points by way of background when talking about the future. The first is that kids will show you the way, because children are rushing towards the future whilst most adults are rushing away from it….

How to market a bank? Cuddly toys of course!

It’s always intriguing to see what banks and insurers are doing for marketing purposes. Take current accounts. HSBC offer a whole range of current accounts, but with no obvious gifts or special offers shown on the website. Barclays offer a…

Things worth reading, the European view (6)

  • Enlargement is EU´s DNA  - European Commission, 9 May 2012 
  • European Commission kicks off public consultation and asks citizens to set future agenda - European Commission, 8 May 2012 
  • Germany drafts national SEPA law – Bundesministerium für Finanzen, 25 April 2012
  • German investors have confidence in financial markets– Bankmagazin, 4 May 2012
  • Germans trust online payment schemes – Bankmagazin, 4 May 2012

The major general news stories of the week include 

JPMorgan reveals $2 billion trading loss, CEO Dimon admits "egg on face" – Reuters
(Reuters) – JPMorgan Chase & Co, the biggest U.S. bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon.

Exclusive: Merrill MVPs earn half firm's revenue, big paychecks – Reuters
NEW YORK (Reuters) – The multimillion-dollar signing bonuses that big brokerages are doling out to recruit elite brokers may seem excessive, but internal reports from Merrill Lynch show why firms are willing to pay top dollar for a top broker.

MasterCard unveils ‘digital wallet’ network – Financial Times
PayPass is designed to help retailers and banks take advantage of expected growth in electronic payments through smartphones and other devices

MasterCard Mobile Payments Readiness Index (MPRI) – Payments News
MasterCard has unveiled the MasterCard Mobile Payments Readiness Index (MPRI), an analysis of 34 countries and their readiness to use three types of mobile payments: person to person, mobile web commerce, and mobile contactless payments at the POS. "Technology infrastructure, a responsive regulatory environment and a robust economy are table

HSBC cost savings gather pace – The Independent
Banking giant HSBC has made 1.2 billion US dollars (£741 million) in cost savings in the last year as it cuts thousands of jobs worldwide, including the UK.

FSA fines Mitsui £3.35m and bans former European chairman Yohichi Kumagai – The Telegraph
The City regulator has bared its teeth again, this time fining Japanese insurer Mitsui Sumitomo £3.35m and banning its former European chairman from working in the UK financial services industry.

How does Greece leave the euro? – BBC
How would Greece actually leave the euro?

Q&A: End of austerity? – BBC
Is it possible to end austerity in Europe?

Shareholder Spring claims its third scalp in 13 days – The Telegraph
It is being dubbed: "The Shareholder Spring" and in just 13 days it has toppled three of the City's most high-profile chief executives.

Does it matter if a bank makes a profit or a loss? – The Telegraph
It may seem a strange question to ask, but does it actually matter if a bank makes a profit or a loss?


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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, 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...

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