You've probably seen it but, just in case, here's Vikram Pandit's internal memo that was leaked and resulted in a nice little jump in the stock price this week: From: Vikram Pandit Subject: Capital Strength and Earnings Power Sent: Mon Mar 09 21:12:44 2009 Dear Citi Colleagues, After a broad sell off in the markets…
I’ll post lots of serious stuff this week about payments, as I’m chairing a conference about payments processing developments all week. The conference will cover everything from mobile and contactless through SEPA and SWIFT, and many believe that payments is an area that has a positive vibe in banking as ‘Transaction Services’ – the payments…
I’ll post lots of serious stuff this week about payments, as I’m chairing a conference about payments processing developments all week. The conference will cover everything from mobile and contactless through SEPA and SWIFT, and many believe that payments is an area that has a positive vibe in banking as ‘Transaction Services’ – the payments…
I’ll post lots of serious stuff this week about payments, as I’m chairing a conference about payments processing developments all week. The conference will cover everything from mobile and contactless through SEPA and SWIFT, and many believe that payments is an area that has a positive vibe in banking as ‘Transaction Services’ – the payments…
Misstrade pointed me to a fascinating half-hour interview with Jim Rogers, who was co-founder of the Quantum Fund with George Soros. This is the second part of the interview (click for first or third part): and he's saying that there were absurd practices in the City of London, which had more exposure than anywhere else…
Things we're reading today include … UK Bank of England cuts rates to 0.5% and starts quantitative easing (Guardian) Bank to 'print' £75bn of new money as it cuts rate (The Times) FSA's Lord Turner to call for new banking oversight role (Telegraph) Lloyds in talks over toxic asset insurance and the taxpayer's stake (Guardian)…
Things we're reading today include … UK Bank of England cuts rates to 0.5% and starts quantitative easing (Guardian) Bank to 'print' £75bn of new money as it cuts rate (The Times) FSA's Lord Turner to call for new banking oversight role (Telegraph) Lloyds in talks over toxic asset insurance and the taxpayer's stake (Guardian)…
Things we're reading today include … UK Bank of England cuts rates to 0.5% and starts quantitative easing (Guardian) Bank to 'print' £75bn of new money as it cuts rate (The Times) FSA's Lord Turner to call for new banking oversight role (Telegraph) Lloyds in talks over toxic asset insurance and the taxpayer's stake (Guardian)…
Northern Rock released their annual report this morning, a year after their ‘temporary’ nationalisation on 22nd February 2008. The report provides some fascinating reading, and here are the headline numbers: A loss of £1.4 billion, of which £900m is for loan losses and £300m for write-downs The bank reduced staff by 1,300 to 4,500 through…
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