Things we're reading today include … Today's must read FBI Probes Hack at Citibank – Wall Street Journal The Federal Bureau of Investigation is probing a computer-security breach targeting Citigroup Inc. that resulted in a theft of tens of millions of dollars by computer hackers who appear linked to a Russian cyber gang, according to…
Things we're reading include … Today's must read: London Stock Exchange on cusp of Turquoise deal – The TelegraphLondon Stock Exchange is poised to announce it has finally agreed a deal to take control of Turquoise, the loss-making trading platform set up by the world's leading investment banks. Bonus row rumbles on Goldman Sachs threatens…
Things we're reading today include … Today's must read FT interview transcript: Josef Ackermann – Financial Times "There were three sources of losses in this crisis, and there were winners and losers from every business model. One was the lending side, which was in commercial real estate and leveraged loans; the second was investment portfolios…
Things we're reading today include … Today's must read: Dumbest moments in business 2009 – CNN Number One: Goldman Sachs's PR blitz For all the complex financial products they can dream up, simple common sense still seems to elude the bright minds of Wall Street. Or at least, Goldman Sachs CEO Lloyd Blankfein. Hoping to…
Things we're reading today include … Bonus row Darling defies bank threats on bonus tax – Financial TimesLord Myners dismisses bonus supertax row as storm in a teacup – The IndependentTop City broker helps staff relocate overseas – The Independent Companies Brussels clears RBS bail-out as shareholders prepare to vote – The TelegraphECB orders Austria…
Things we're reading today include … Today's must read: Goldman Fueled AIG Gambles – Wall Street Journal Goldman originated or bought protection from AIG on about $33 billion of the $80 billion of U.S. mortgage assets that AIG insured during the housing boom. That is roughly twice as much as Société Générale and Merrill Lynch,…
The biggest news stories of the week include … City in uproar at plan for bonus 'supertax' – The IndependentBarclays chief Bob Diamond warns windfall tax on bank bonuses not in line with G20 – The TelegraphWill Obama tax the Banksters? – the New YorkerUK and France 'agree on banking' – BBCGeorge Soros warns against…
Things we're reading today include … Bonuses UK and France 'agree on banking' – BBCEU nations get behind super-tax on bonuses – The TimesTax on bankers’ bonus ‘would infringe human rights’ – The TimesNo cash bonus for Goldman bosses – BBC Tobin Tax Tobin tax remains Treasury ambition – Financial TimesEU calls for tax on…
Things we're reading today include … Today's must read: Will Obama tax the Banksters? – the New Yorker I would wager a substantial sum that some of Obama’s political advisers are pressing him to copy Darling’s populist move, which the opposition Conservative Party, traditionally the party of big business, is supporting. Banks face new tax…
Things we're reading today include … Today's must read: The American argument over interchange fees"Trillions of dollars of transactions are processed each year on credit and debit cards in the United States. 1.7% of each credit or debit card payment (to use the GAO’s example) may not seem like a huge amount on an individual…
