Home / Blog Index / The Finanser’s Week: 15th October – 21st October 2012

The Finanser’s Week: 15th October – 21st October 2012

Our biggest stories of the past week are … 

The World Payments Report 2012, Part One

The World Payments Report (WPR) has just come out. It is the 8th report produced by EFMA, in partnership with Cap Gemini and the Royal Bank of Scotland (ABN AMRO previously), and provides a good analysis of global payments movements…

What really happened when the RBS payment system failed

At the start of this week, we had a discussion at the Financial Services Club about the issues at the Royal Bank of Scotland (RBS) over the summer when their payments systems failed. It was a major failure that garnered…

 
Edith Rigler has sent me here infrequent view from Europe, and I decided to add my own item to the list today. This is because I spotted a very interesting article by Wolfgang Munchau in Der Spiegel that blames Chancellor…
 
 
I got a shock the other day. We were discussing transaction processing with one of the banks, when the head of transaction processing turned to me and said: “Chris, you know what? We now have more people checking what we…
 
 
The converse of KYC and AML is identity management. If we had effective identity management where everyone could be identified as a unique person with certainty and securely, we would not have the issue of AML and KYC given to…
 

 

The major general news stories of the past week include  

MasterCard
sells its data to marketers
– The Telegraph

MasterCard has started selling its data to
advertisers and marketers to help them create targeted campaigns.

Banker
'recruited two girlfriends to make £1m from insider dealing'
– The
Telegraph

An investment banker fed confidential
information to two girlfriends to make more than £1m through insider share
dealing, a court head.

Citi
CEO Pandit exits abruptly after board clash
– Reuters

(Reuters) – A regular Citigroup Inc board
meeting to talk about quarterly results took an unexpected turn on Monday
night, when simmering tensions between Chairman Michael O'Neill and then Chief
Executive Vikram Pandit came to a boil.

A
culture of bullying and greed: Wanted – interns for Goldman Sachs…
– The
Independent

Back on 12 June 2000, as the dot-com bubble
was deflating, young Greg Smith was all puffed up, clutching his
"extra-large coffee" and looking up "at the formidable tower
that housed Goldman Sach's equities trading headquarters" in New York.
"Holy shit," he thought, as he arrived for the first day

Branson
and Flowers express interest as RBS considers keeping branches
– The
Telegraph

Virgin Money and private equity group JC
Flowers are front-runners to buy 316 branches from Royal Bank of Scotland after
Santander pulled out of a deal to buy them, although the bank could push to
keep them.

Euro
destroying EU, and Germany should save it: Soros
– Reuters

NEW YORK (Reuters) – The European Union
could be destroyed by the "nightmare" euro crisis, and Germany needs
to take the responsibility to save the common currency, billionaire fund
manager George Soros said on Monday

SFO
in the dock after collapse of Icelandic bank fraud inquiry
– The
Independent

The Serious Fraud Office was yesterday
embarrassingly forced to scrap its three-year investigation into fraud at the
failed Icelandic bank Kaupthing.

RBS
could sue Santander as deal failure could cost bank £1bn
– The
Telegraph

The Royal Bank of Scotland is considering
suing Santander amid fears that its decision to ditch the deal buy 316 branches
could cost the part-nationalised lender as much as £1bn.

City's
expat bankers feel pain as taxman targets 'low-hanging fruit'
– The
Independent

The taxman's more aggressive efforts to
crack down on tax avoidance by foreign bankers working in the City appears to
be paying off.

RBS
shares head for fall after branch sell-off fails
– The Independent

City traders were bracing for Royal Bank of
Scotland's shares to fall sharply when they open for trading this morning for
the first time since the collapse of its proposed £1.7bn sale of 316 branches
to Santander.


 

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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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