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The Finanser’s Week: 29th October – 4th November

The main blog headlines are …

Clash of clans … or new bank versus old bank (Fidor, BPCE) 

I was talking with some friends at the most innovative bank in Europe. A bank that has stopped getting on my radar for the past few years. I first blogged about them back in 2012, when I met the founder at an event. That bank is called …

AI is only as good as the people who program it

Artificial Intelligence (AI) is moving at a pace, creating a really interesting online debate the other day about its applications. Specifically, the question was raised about self-driving cars and how they make decisions. For example, when a self-driving car crashes, who should die? This is …

Gartner: you’re better than this

I got this headline today: Most banks will be made irrelevant by 2030 – Gartner Within 12 years time, 80% of financial firms will either go out of business or be rendered irrelevant by new competition, changing customer behaviour and advancements in technology, according to …

Apps, DApps and Super-Apps

You’re probably familiar with an app. Maybe you even have some on this thing called a smartphone. I apologise for the few financial guys I know who are still using blackberries, as what follows may blow your mind.  Ok, I know that was patronising but …

Keep on grafting

Every now and again people like me are drawn back into reality. Sure, I fly business class, sometimes first, and drink champagne at 40,000 feet. I land and stay in luxurious hotels whilst partying with a network of people who are friends, rather than business …

 

This week’s top news headlines are …

Deutsche Bank in need of ‘radical surgery’ as profits plunge – The Telegraph
The German lender, which is trying to recover from three consecutive years of losses, posted a net profit of €229m (£200m) for the quarter. That beat analyst expectations but is down significantly on the €649m posted a year ago.

HSBC profits soar as bank keeps a ‘strong grip’ on costs and flourishes in Asia – City AM
The bank reported a pre-tax profit rise of 28 per cent to $5.9bn (£4.6bn) in the third quarter of the year – with $4.6bn of that generated in Asia.

Girl offers piggybank to masked gunmen to try and make them leave family alone, police reveal – The Telegraph

Bitcoin may cause catastrophic climate change by 2033, study warns – The Telegraph

Venezuela Is Said to Move Cash Through an Obscure Russian Bank – Bloomberg
An obscure Moscow-based state-run bank has emerged as a key player in Venezuelan President Nicolas Maduro’s efforts to work around U.S. sanctions that are cutting his country off from the global economy.

Reserve Bank of Australia Official ‘Not Convinced’ of Need for Digital Dollar – Coin Telegraph
The Reserve Bank of Australia (RBA) assistant governor Michelle Bullock said that the bank has not been convinced of the need to create a digital Australian dollar, local business and finance news outlet The Australian Financial Review reported Oct. 24.

Danske Bank drops to last place in private banking survey: Prospera – Reuters
Danske Bank , which is embroiled in a major money laundering scandal, is now the least preferred of the five large banks in Denmark amongst wealthy private banking customers, a survey from Swedish consultancy firm Prospera showed on Friday.

Wells Fargo says aware about issues with ATM and credit card transactions – Reuters
Wells Fargo & Co on Thursday said it was aware of issues with its debit and credit card transactions.

Deutsche Bank dismisses boss of fund manager DWS – Financial Times
Unexpected move follows billions in outflows from asset manager in third quarter

World’s billionaires became 20% richer in 2017, report reveals – Guardian
UBS report shows billionaires increased fortunes by $1.4tn, more than the GDP of Spain Billionaires made more money in 2017 than in any year in recorded history. The richest people on Earth increased their wealth by a fifth to $8.9tn (£6.9tn), according to a report by Swiss bank UBS. The

 

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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