Although on the co.uk domain only, this is a very useful new site from Google. One to save for future reference. Google Internet Stats This Google resource brings together the latest industry facts and insights. These have been collected from a number of third party sources covering a range of topics from macroscopic economic and media trends to how consumer behaviour and technology are changing over time. HT to ReadWriteWeb Continue reading Google Internet Stats
It was 1 year ago Sept 15th when Lehman Brothers did the previously unthinkable, and dissolved in inglorious bankruptcy. This Reuters piece catches up with Dick Fuld who commutes from his mansion in the Rockies to Manhattan 3 or 4 times weekly for expensive lunches and some consulting work. With the combined $310 million package and sale of Manhattan spot for $25 million he is managing. The observation of ex Lehmans emoloyee is illustrative of his approach though. Google Earth Fuld says being “dumped on” for Lehman failure | Reuters Lawrence McCarthy, who was head of distressed bond trading at … Continue reading Fuld and Lehmans – 1 year on
The G20 Finance Ministers meeting in London concluded some new principles for Bank supervision, that follows the predictable path we have been seeing. Here is a summary from BIS, and some additional analysis from Financial Times. The key points that will drive banks to seek additional efficiences to compensate, are raised capital and liquidity requirements. Another key one is #4, the countercyclical buffer; in other words during good times put money away for a rainy day. These changes in particular will constrain new investment in lending and in anything that does not drive higher profits. In any event this will … Continue reading G20 Finance Minister regulation changes will constrain new investment and require a strategy rethink
Here is a clear review of the current state of ATM fraud in Europe. It summarises the methods in some detail (refer below) as well as the overview of chip cards impact on fraud, and those countries that are not fully EMV compliant yet. EU agency ‘alarmed’ by rise in cash machine fraud | Finextra In April 2009, a 33-year-old Microsoft employee, who lives in New York City, stopped in the closest Chase bank to get some cash to pay his barber. When he inserted his ATM card in the machine, he noticed a bit of resistance. The screen said … Continue reading ATM Fraud Review | European security agency
The worlds safest banks are European, Canadian and Australian. WORLD’S 50 SAFEST BANKS 2009 | Global Finance Magazine New York, August 25, 2009 — With bank stability still high on corporate and investor agendas,Global Finance publishes its 18th annual list of the world’s safest banks. After two tumultuous years that saw many of the world’s most respected banks drop out of the top-50 safest banks list, the dust appears to be settling. Those banks that kept an iron grip on their risk exposure before the financial crisis blew up have consistently topped the table and maintain their standing among the … Continue reading World Safest Banks are European, Canadian and Australian
A debate ensues in UK and to some extent in France, on the issue whether the financial sector is an underpinning of the economy, or a destabilising factor to the economy. The debate is quickly moving to new taxes on transactions, but its unclear to me why that would solve either side of the debate, rather than merely be passed on to customers. City regulator seeks to deflate financial sector with global tax | FT … … a “swollen” financial sector paying excessive salaries has grown too big for society Continue reading The Role of Financial Services in the Economy
Most of us here are of the mind that there is a consequential change going on, and that change is driven by internet. Part of the reason that Banks have issues dealing with internet is that it is viewed as an add-on … a new access channel that is additive to the others such as branches and telephone. The change is more fundamental however. The way that a company acts, and implements online activities increasingly defines that company, and that includes Banks. In banking language we refer to self service however this is limiting and tends to place internet within … Continue reading A New Way to View Change | Interaction
As people discuss and debate the business model for social networks, the underlying usage remains volatile at best, suggesting that the determination of the model is a long way off. Social sites losing popularity with young | FT “If this trend is true, it would raise questions about the valuation of social networks. It would confirm that on the internet you have to be very agile. One year it is all about search- engine advertising, the next it is about social networking, and something else after that,” said Adam Daum, analyst at Gartner, the IT research group. Mr Daum suggested … Continue reading Social sites losing popularity with young | FT
I have been following the matter of bank leverage, and the improvements that are required to deal with current bad debts and more importantly future bad debts that will arise from credit card and mortgage defaults. Sadly no lessons have been learnet judging by the reaction from the investment analyst community to the small improvement in capital ratio at Goldman Sachs. Banks still need bigger cushions | Reuters – Rolfe Winkler It was a surreal moment two weeks ago when analysts on Goldman Sachs’ earnings conference call pressed CFO David Viniar to jack up leverage. They seem to think that … Continue reading The lesssons of the credit crisis are not being taken seriously by markets
This is fun and a good cause. Linux Foundation launches branded credit card | finextra The Linux Foundation is set to launch a Visa credit card featuring its Tux mascot for people who want to contribute to the operating system’s development. Continue reading A card for opens source believers
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