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The Finanser’s Week: 9th March 2020 – 15th March 2020

The main blog headlines are …

“Are you willing to take the risk of investing in bullshit?”

“Are you willing to take the risk of investing in bullshit?” Interesting headline. It’s not mine btw. It’s a question from a leading banker. The question, in this case, related to investing in data mining … but you will probably find it’s a question asked about …

When the world stops, did you want to get off? #coronavirus

Woke up with a sore throat, stuffed nose and cough. OMG, have I got the coronavirus???? After President Trump’s ban on Europeans last night, the coronavirus madness continues. I know that coronavirus is boring – as it’s non-stop in the news, media, office and coffee …

Reports of my (banks) death have been greatly exaggerated

I’m getting really fed up of the number of research papers, videos, blogs, headlines and more screaming: “banks will die”. Sure, sure, you’ll immediately go: “but you say that all the time Chris” but, if you check back on what I’ve written, I’ve only ever …

50 years of ranking 1000 banks

Some of you may know that I write a monthly column for The Banker magazine, and have been doing this for almost twenty years! But The Banker goes back way longer than my column. In fact, it began in January 1926 when the first issue was published and is …

Mark Carney: Central Banker and Climate Activist

On Sunday, Mark Carney leaves the Bank of England after almost seven years at the helm. There’s an interesting review of Mark Carney’s tenure as Governor of the Bank of England on Bloomberg. Joining the Bank back in 2013, before the Scottish referendum and Brexit …


And the main news headlines are …

Trump’s bid to calm crisis simply caused more financial chaos – Guardian
It is not just the obvious candidates whose shares have fallen – there is now a fear of financial contagion You’d expect Larry Summers, former US Treasury Secretary under President Bill Clinton and adviser to President Barack Obama, to twist the knife, and he did so stylishly. By destroying “about

Throughout history, pandemics have had profound economic effects – Economist
Long-run economic effects are not always dreadful

Internships in Paris are the harshest in banking – eFinancial Careers
If you’re interning in a bank in 2020, then I hope for your sake that you’re not interning in Paris. As someone who’s worked in banks on both sides of the Atlantic, I can say definitively that Paris internships are by far the worst.

An Italian financial crisis is certain – the big question is how contagious it is | Larry Elliott – Guardian
The EU can rewrite its rules and let governments borrow more to counter the crisis or let Italy go the way of Greece Coronavirus – the latest updates The Italian government’s decision to suspend mortgage payments for its quarantined citizens is a drastic step in the battle to mitigate the

‘This is a meltdown’: Tension turns to panic on dramatic day in City – Guardian
Traders reacting to oil plunge and coronavirus say they have not seen such chaos since 2008 By 11am on Monday, the atmosphere on the London trading floor of spread-betting firm ETX Capital was electric. Extra staff had been drafted in amid a surge in trading after oil prices plunged overnight

Yes Bank: Founder Rana Kapoor held over alleged money laundering – BBC
His arrest comes days after the country’s central bank seized control of the troubled lender.

U.S. Banks Are About to Collapse and Send Some Financial Stocks Soaring – CCN
As coronavirus continues to spread across the globe, the economic impact has become undeniable. It’s still unclear whether the impact from the world-wide outbreak will be short lived or long-term, but some sectors won’t be able to survive either scenario.

Big banks brace for the coronavirus – BBC
Financial institutions launch contingency plans to keep markets humming as coronavirus spreads in UK.

Citi says it will cut ties with two-thirds of FX systems – Financial Times
Bank’s review found most trading platforms did not provide value for money

Barclays and the legal fight over a ‘controlling mind’ – Financial Times
The investigation into the bank’s actions has renewed calls for reform of laws over white-collar crime


About 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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