The Finanser’s Week: 12th March – 18th March 2012

Our biggest stories of the week are ...

Contactless payments are already past their sell-by date

Spent most of this week at a payments conference. The theme was relentlessly around mobile payments, as this area of the market has truly kicked off as a major focal point for banks, telecommunications firms, retailers and merchants. There was... 

Research survey: the future of the Eurozone

For the last three years, we have performed a major survey focused upon the progress of the euro and the Eurozone from a payments infrastructure view. This year's survey is now live and we would like to have your opinion....

Anonymous: dangerous or laughable?

We have seen a great deal of activity from the activist online community called Anonymous in the last year.  They first hit my radar when they closed down the websites of PayPal, Visa and MasterCard in retaliation for the arrest of Julian Assange and closure of Wikileaks’ funding accounts.

Have you taken our survey on the future of the Eurozone? Take it now by clicking here. 

Things worth reading, the European view

Financial Services Club member and good colleague Edith Rigler has started to look for key headline grabbing views from the German / European media that is aligned with the Financial Services Club's common themes ...

Have you taken our survey on the future of the Eurozone? Take it now by clicking here. 

Is there a future for cash?

The debate about cash is a regular one, and it does roll on and on. Last week’s debate at the Financial Services Club is no exception, and was argued well by heavyweights in opposing corners. In the case for cash,...

Have you taken our survey on the future of the Eurozone? Take it now by clicking here. 

That Goldman Sachs resignation letter in full

Greg Smith, executive director and head of Goldman Sach’s United States equity derivatives business in Europe, the Middle East and Africa, resigned today. He sent his resignation letter to the New York Times. It's too good to ignore and so is reproduced here in full.

Have you taken our survey on the future of the Eurozone? Take it now by clicking here. 

“Just Business” by Geraint Anderson

I’ve just finished reading "Cityboy" Geraint Anderson’s book, Just Business. I’m reading it partly because Geraint’s going to be a guest at the Financial Services Club in June, when he launches his new book "Payback Time".  All books being about the true life in investment banking  ...

Have you taken our survey on the future of the Eurozone? Take it now by clicking here. 

 

The major general news stories of the week include ... 

Goldman Sachs PR disasters: in pictures - The Telegraph
In a major embarrassment for Goldman Sachs, a senior executive has resigned from the bank and attacked its 'toxic' and 'destructive' culture. Here, we look at other PR disasters at the global institution.

Technology could take the bankers out of banking, says BoE policmaker Andy Haldane - The Telegraph
Improvements in technology could be used to remove bankers from banking, a top policymaker has suggested.

The cost of Greek 'credit event' - BBC
Why the Greek default has so far failed to bite

Have you taken our survey on the future of the Eurozone? Take it now by clicking here. 

Ex-HBoS executive admits FSA 'worries' - The Telegraph
One of HBOS's most senior former executives has admitted he is "worried" he could become embroiled in the City watchdog's investigation into the failed bank.

Ten most competitive cities in the world: in pictures - The Telegraph
Cities ranked on attracting capital, businesses, talent and tourists.

Banks warn 'hostility will push us' abroad after King attack - The Telegraph
Britain's leading banks have warned they will move abroad unless a less "hostile" successor to Sir Mervyn King, the Governor of the Bank of England, is appointed when his term ends next year.

Have you taken our survey on the future of the Eurozone? Take it now by clicking here. 

HBOS failures raise questions about senior City figures - The Telegraph
Risk failures at HBOS, the bailed-out Halifax lender that was severely rebuked by the financial watchdog last week, have prompted serious questions about individuals in senior positions.

Caught in the trap: 'I trusted the bank and saw it just like a house mortgage' - The Telegraph
One entrepreneur's first taste of running a manufacturing company saw him caught by an interest rate swap sold by Barclays.

Greece: It is a default - The Independent
Greece's deal with its lenders was last night declared a default by investors, effectively pouring scorn on politicians' figleaf claims to have averted such a dramatic event.

How the derivatives sold by the banks work - The Telegraph
At its most basic, banks offered clients what is called an interest rate swap. The bank would offer the right to fix the base rate on a loan at a certain level to ensure a rise in interest rates would not lead to a company's borrowing costs rising to a

 Have you taken our survey on the future of the Eurozone? Take it now by clicking here. 

 

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