The main blog discussions this week include …
Breaking the stranglehold of banking
Someone asked me to elaborate on the links between banks, government, the economy and society, and this was well illustrated by the video I shared the other day of James Pierpont Morgan, who founded the JPMorgan empire (see end of this blog entry). That all …
I’m a Simple guy (?), but realised the other day that the consultants, research firms and technology behemoths do a great job of dressing up old ideas in new clothes. This hit home when I was reading the IT priorities for CFOs in 2021 by …
I guess I’m not the only one who is sitting at home, watching the world go by and thinking: life is pretty weird right now. Watching virtual concerts and binge watching Netflix series is fine, but you see a nation in meltdown, storming their capital …
Do we rely too much on technology?
I’ve seen many people struggling during lockdown when their WiFi goes down. In fact, in the UK, TalkTalk and Sky Broadband have seen some big issues with celebrities complaining and those who are vulnerable not only losing their internet access but also their telephone access …
It’s 2021 and the elephant is really smelly. I don’t think he’s washed since 2019, so I finally managed to persuade him not only to stay in the room, but that he needed to wash and shower. [the elephant represents the economy] As we stood …
And the main news headlines are …
Bank of England governor warns Bitcoin’s days are numbered - Proactive Investors
Speaking at the World Economic Forum, Andrew Bailey said while digital innovation in payments was likely to remain into the future, cryptos in their current form were unlikely to last
German mobile bank N26 is thinking of making its first acquisition - CNBC
LONDON — German online bank N26 is considering making an acquisition for the first time, after raising heaps of cash and trimming its losses despite the coronavirus pandemic.
GameStop's dizzying share price rise means it's game over for the short-sellers | Nils Pratley - Guardian
The retailer has gone from $19 to $330 thanks in part to amateurs taking on the hedge funds If you find trading bitcoin insufficiently hair-raising, try GameStop. It is the Texas-based video games retailer that will be hard to out-do as the stock market story of 2021. The share price
The hedge fund that got wrecked by day traders - Financial Times
Melvin Capital, which tends to run a fairly aggressive short book, had bet that GameStop shares would fall
JP Morgan to launch digital bank in UK - The Guardian
Wall Street bank hired 400 staff for Canary Wharf-headquartered digital bank The Wall Street company JP Morgan is to launch a new digital bank in the UK, in a move that threatens to shake up a banking sector still dominated by a handful of high street lenders. JP Morgan has
City warned EU will do London no favours on financial services - Financial Times
Former Brussels commissioner Jonathan Hill says threat to Square Mile from Europe reinforces need for reform
Mastercard to raise fees by at least 400% for EU firms selling to UK customers - Guardian
Change from October could lead to higher prices for those paying with UK-issued cards Mastercard is to increase the fees EU firms face to take payments from online shoppers from the UK by at least 400%, in a move that could mean higher prices for consumers. When a credit or
'A Brexit nightmare': the British businesses being pushed to breaking point - Guardian
Less than a month after leaving the EU, trade is flowing so badly that small firms are moving operations abroad to survive Set up shop in Europe, UK businesses are told Christophe Fricker lectures in German at the University of Bristol and adores living in England. He was born in
The strange case of Alibaba's Jack Ma and his three-month vanishing act - Guardian
The ebullient tech tycoon embarrassed China’s leaders and went missing. Now he’s back, but seems far less outspoken Wearing burgundy lipstick and a long peroxide wig, the diminutive entrepreneur who would soon become China’s richest man took to the stage and belted out Can You Feel the Love Tonight ?
Mastercard to increase fees for UK purchases from EU - Financial Times
Departure from single market spells end for Brussels-mandated cap on transaction levies
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...
