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The Finanser’s Week: 27th July 2020 – 2nd August 2020

The main blog headlines are …

What’s the impact of coronavirus on FinTech?

Someone asked me what the coronavirus pandemic means for the future of FinTech. I guess they thought that not much is happening and many firms will shutter and close. However, some may think that times are dull and boring, locked in at home and nothing …

When the banks closed, no-one cared

A great headline posted in The Financial Times the other day:  When the banks closed in Wuhan, nobody cared The Financial Times article makes clear how advanced the Chinese economy is today. For several months this year, banks across Hubei province, an area home to …

The new normal for conferences (#Money2020)

I’ve grown up in a period of strong political stability. I’ve been lucky. Many other people grew up in a period of strong political instability, with war and famine and economic starvation. I realise I’ve been lucky because I’m now looking at lockdown, China-US trade …

How’s your cheese?

I was having a chat with someone the other day and lamenting the loss of open travel. My job was reliant on travel, going to conferences worldwide as a keynote speaker. Locked up at home: (a) how am I going to generate keynotes at conferences …

The Karaoke Challenge: Jaja Ding Dong (Dada Bank Wrong)

One of my readers enjoyed my Karaoke so much that he challenged me to attempt Jaja Ding Dong.  If you don’t know the song, it’s the amazing #singalongaferrell in the hilarious film Eurovision Song Contest: The Story of Fire Saga. If you haven’t seen this …

 

And the main news headlines are ….

Emmanuel Farhi has died at the age of 41 – Economist
The economist was one of the brightest minds of his generation

Barclays: We want our people back in the office – BBC
The bank’s boss, who has said big offices might be outdated, now wants staff back in the workplace.

Man buys Lamborghini after getting nearly $4m in coronavirus loans, authorities say – Guardian
Complaint alleges Florida man bought luxury goods after receiving PPP loans meant to help small businesses hit by the pandemic A Florida man who bought luxury goods including a Lamborghini sports car after receiving nearly $4m in loans from the paycheck protection program (PPP) has been charged with fraud, federal

Fraud: Banks reveal the 10 coronavirus scams to be wary of – BBC
Fraudsters are using Covid-19 as an excuse to prey on consumers’ financial worries.

Where the founders of Europe’s top 10 digital banks began their careers – Sifted
You don’t need to be a ‘tech geek’ to launch a leading fintech

Deutsche Bank’s pay predicament is a bad omen for rivals. Tumble weeds in finance hubs – eFinancial Careers
Cast your mind back to the 2019/2020 bonus season. Despite happening pre-COVID, it wasn’t exactly ‘halcyon days’: at Deutsche Bank the average bonus was held steady, but there was pain at the top – material risk takers (many of whom are traders) had their bonuses cut by around 17%.

Not for the faint of heart, is it time to buy bank shares? – Evening Standard
Banks shares have been hammered. Smashed. Toppled. As many of the top lenders gear up to report earnings this week, is now the time for the bold investor to buy?

Goldman Sachs’ guide to the best and worst perfoming banks in Q2 – eFinancial Careers
If you’re looking for a safe space to sit out the pandemic, Goldman Sachs’ European banking analysts just produced a round-up of how U.S. banks fared during the second quarter, and how European banks are likely to compare.

NatWest customers say accounts were closed after they applied for coronavirus loans – Guardian
Small business say funds were blocked after applying for government-backed scheme Coronavirus – latest updates See all our coronavirus coverage NatWest has shut the accounts of some small business customers who applied for government-backed loans to help them get through the pandemic, leaving them distressed and unable to access their

The Guardian view on a wealth tax: necessary but not sufficient | Editorial – Guardian
As in the novels of Jane Austen, social mobility in Britain today appears dependent on the wealth you inherit or marry in to, rather than how much you can set aside from a pay packet In the 1970s British households held wealth worth around three times the nation’s GDP. Today

 

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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