The main blog headlines this week are …
I haven’t written about blockchain for a while. I guess it’s because I got bored of it. I’m not bored of the promise of blockchain and distributed ledger technologies. Just bored of how much hype there has been and of so many companies claiming to …
Zuckerberg, Gates, Bezos, Ma & Co are destroying the world
I was listening to Andrew Keen, digital sceptic, giving a keynote at a conference. He was lambasting the way in which the internet had developed, and the fact that it had gifted power to a small, select few companies, who own the world. Apple, with …
Technology is improving the world, not destroying it
For all the negative views of technology, the positive is that it is enabling and inclusive. This is what Digital Human explores in depth. The main critique of my book is that it is too optimistic about the future of technology, and should be more …
Forcing banks to tell customers their ranks
On Wednesday, the UK’s Competition and Markets Authority published the first survey of whether retail or small business customers would recommend their bank to family and friends. The information must be published by the bank in their branches, website and apps, and is pretty embarrassing for …
Decentralisation demands data safes
I keep thinking about the future internet and the ideal of creating a network where no one controls anything. It may sound silly, but it is developing already. In fact, in HBO’s excellent series Silicon Valley, the guys at Pied Piper recently did a pivot …
The major headlines this week include …
Ex-Barclays Trader Wins $190,000 Job at Bank That Fired Him - Bloomberg
A former Barclays trader fired over the misuse of an electronic trading program won a long-shot campaign to get a job back at the bank.
Global ATM hack could see millions withdrawn warns FBI - The Independent
Cyber criminals are planning a highly-coordinated attack on cash machines around the world that could see millions of dollars withdrawn from customer bank accounts, the FBI has warned.
Card payment problems at Marks & Spencer - BBC
The retailer says it's having a problem accepting card payments in a quarter of its stores.
Insurance baron Sir Peter Wood in line for giant windfall as Esure weighs £1.2bn takeover offer - The Telegraph
Citigroup shakes up consumer bank and card chief leaves - Reuters
Citigroup Inc restructured its consumer bank on Monday, elevating one executive and triggering the departure of another, as the third-biggest U.S. bank moved to improve results.
Why is the Turkish lira dropping and what does it mean for the global economy? - The Telegraph
Turkish lira pulls back from record low, markets rattled - Reuters
Turkey's lira pulled back from a record low of 7.24 to the dollar on Monday after the central bank pledged to provide liquidity, but it remained under selling pressure and its meltdown caused further unease on global markets.
Credit Suisse divides international wealth unit into more regions: Bloomberg - Reuters
Credit Suisse Group AG is splitting its international wealth-management unit into seven regions from four, in an ongoing push by Chief Executive Officer Tidjane Thiam to regionalize the bank, Bloomberg reported on Monday, citing people briefed on the matter.
Interest rates to stay low for at least 20 years, Bank of England economist warns - The Independent
Interest rates are likely to stay low for at least the next 20 years, a Bank of England economist has warned, despite the recent hike past 0.5 per cent for the first time since the financial crisis.
Crashed: How a Decade of Financial Crises Changed the World – review - The Guardian
Ten years after the 2008 financial crash comes a compelling analysis of what really happened. Both appalled and captivated, the former Greek finance minister and co-founder of political movement DiEM25 fears we have reached a 1930 moment… Every so often, humanity manages genuinely to surprise itself. Events to which we had ...
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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...
