Paul Penrose Head of Research at Finextra
Two bank workers who stole 45 million yuan (HK$49.93 million) to buy lottery tickets have been executed in Hebei province, according to an AFP report quoting the Xinhau News Agency. The two vault managers started taking money from the safe to play the state lottery, hoping they would eventually win back enough to replace the missing funds. Makes y...
07 April 2008 /regulation /wholesale Whatever...
"A few fundamental tenets of sound financial judgment appear to have been violated." That's the typically understated view of the Bank for International Settlements, in its first official review of the havoc wreaked on the financial markets by wanton abuse of credit risk transfer instruments. The central bankers bank first reviewed the CR...
02 April 2008 /regulation /wholesale Finexpo
Dog racing on ice? (The Daily Mirror). Nicolas Sarkozy to be stretched? (the Sun - natch). UBS share price soars on news of massive write-downs? (All financial press - the madness of markets). On April Fool’s day it can sometimes be difficult to distinguish fact from fiction. Nor can you trust newspaper advertising - witness BMW's campaign today pr...
01 April 2008 /retail /wholesale Whatever...
European exchanges had best get ready for another round of fierce price cutting following the announcement by the US-based Bats ECN that it is to set up an operation in London. The Bats ECN launched in the US two years ago and now claims an 8-10% market share in US equities. Much of its success stemmed from an agressive pricing plan introduced in ...
31 March 2008 /wholesale Finextra50 fintech index
It's a safe bet that Jamie Dimon, JPMorgan's chief executive won't be losing too much sleep after legal snags and investor opposition forced the firm to quintruple it's offer for Bear Stearns from the bargain-basement price of $2 per share to a slightly more palatable $10 per share. Yes, it is a bit of a climb-down, but for his $1.2 billion outla...
25 March 2008 /retail /wholesale Finextra50 fintech index
Retired Member
Unsettling events on the UK front at the moment with rumours flying everywhere. There are risks certainly, but there is no doubt a little of that 'I hope it doesn't happen to me" (so much that I'd rather believe that it's happening to someone else) syndrome going on globaly. It's time to stay calm and stick together. We've developed a globa...
22 March 2008 /retail /wholesale Whatever...
Misys boss Mike Lawrie and largest shareholder ValueAct Capital seemed to be onto a winner when they announced a deal earlier this week to spin off the company’s ailing healthcare business and merge it with rival Allscripts. News of the deal – accompanied by an upbeat interim statement from the banking division – lifted Misys’ share price by 20% f...
20 March 2008 /retail /wholesale Finextra50 fintech index
The lyrical e-mail that's currently doing the rounds of investment bank inboxes: Subject: CDO fantasy - to the tune of Bohemian Rhapsody Is this the real price? Is this just fantasy? Financial landslide No escape from reality Open your eyes And look at your buys and see. I’m now a poor boy High-yielding casualty etc, etc. FT Alphaville has the...
19 March 2008 /wholesale Whatever...
Andrew Fear Advisor / Consultant at Independent
(Core systems replacement – evaluating your options) Ownership is the thing. Whose systems are they after all? Putting the ownership of the core-banking systems back where it belongs, with the bankers, is just part of being attuned. Forward-thinking bankers know that only the right technology, the right core banking systems can drive the busine...
18 March 2008 /retail /wholesale Innovation in Financial Services
Is it an adventure theme park….a children’s nursery….a health spa? No, it's Google’s new European engineering HQ in Zurich. The 'office' space features meeting 'pods' in the style of Swiss chalets and igloos, fireman poles to allow easy access between floors and a slide to ensure that people can get to the cafeteria as quickly as possible Other ar...
14 March 2008 /retail /wholesale Video extravaganza
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