Posts Tagged ‘Banking’

Low-Interest Loans to European Banks Prompt Concern

Sunday, February 12th, 2012

Economists fear that the loans provided by the European Central Bank simply could be creating the conditions for another banking crisis several years from now.

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Low-Interest Loans to European Banks Prompt Concern

Miliband ‘one nation’ bank call

Friday, February 3rd, 2012

Ed Miliband calls for a culture of “one nation banking” in which financial institutions are not “isolated” from the rest of the economy and society.

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Miliband ‘one nation’ bank call

Hackers fool bank security system

Thursday, February 2nd, 2012

Criminal hackers have found ways around new security devices used for online banking, the BBC has learned.

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Hackers fool bank security system

After Downgrades, European Leaders Argue for Both Austerity and Stimulus

Saturday, January 14th, 2012

In Spain, the prime minister pledged spending cuts and a banking-system cleanup, while in Italy, the prime minister called for “efforts in favor of growth.”

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After Downgrades, European Leaders Argue for Both Austerity and Stimulus

Smart TVs: The next tech war is in the living room

Wednesday, January 11th, 2012

Hawking their wares at the Consumer Electronics Show this week, the world’s top television manufacturers are bent on making a splash: They’re trying to sell a whole new approach to television. In a world where the latest gadgets are automatically expected to be hooked up to technology “ecosystems” — apps, Internet connectivity and access to social networks — television makers are banking on the fact that couch potatoes will want to see their friendly living-room TV get in on the act. Read full article > >

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Smart TVs: The next tech war is in the living room

IMF calls Irish rescue ‘fragile’

Tuesday, December 20th, 2011

Ireland’s lauded rescue program is at risk of falling off track as a slowing European economy cuts into the country’s exports and sparks concern about the nation’s banking system, the International Monetary Fund reported Tuesday. While praising Irish officials for meeting budget targets and reviving the Irish economy, the fund said that the country’s program is nevertheless in a “fragile” state. The slowdown in the rest of Europe, particularly in key trading partners such as Britain, means that economic growth for next year probably will fall to 1 percent, half of what was estimated. Read full article > >

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IMF calls Irish rescue ‘fragile’

Osborne to confirm banking split

Monday, December 19th, 2011

The chancellor is expected to announce to MPs that he will legislate to separate retail banking from more risky investment activities.

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Osborne to confirm banking split

Lloyds ‘may keep ex-boss’s bonus’

Saturday, December 3rd, 2011

Lloyds Banking Group is looking to “claw back” up to half of the £1.45m bonus it awarded former chief executive Eric Daniels, according to reports.

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Lloyds ‘may keep ex-boss’s bonus’

Central banks expand system of ‘swapping’ money to ease credit crunch

Wednesday, November 30th, 2011

The world’s major central banks unveiled a new strategy Wednesday morning to create a wall of money that could prevent Europe’s financial woes from undermining the stability of the global banking system. The Federal Reserve, European Central Bank and central banks in Canada, Britain, Switzerland and Japan said in a joint announcement that they will extend the timing of and lower the interest rate paid on “swaps,” arrangements that have been used intermittently since late 2007 to funnel dollars to the banking systems of countries where there is need. Read full article > >

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Central banks expand system of ‘swapping’ money to ease credit crunch

Banking ‘ethical career choice’

Tuesday, November 22nd, 2011

A career in banking can be more morally valuable than charity work, says an Oxford University ethicist.

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Banking ‘ethical career choice’

Text alerts for overdraft threat

Monday, November 21st, 2011

A system of text message alerts for those close to being overdrawn is among changes agreed by the UK banking and credit industry.

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Text alerts for overdraft threat

New site for Occupy Cardiff camp

Sunday, November 20th, 2011

A group of protesters set up camp on land outside union offices in Cardiff as part of a global movement against banking and big business.

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New site for Occupy Cardiff camp

Protesters moved on from castle

Friday, November 11th, 2011

Protesters who set up an Occupy Cardiff camp as part of a global movement against banking and big business are moved on.

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Protesters moved on from castle

Batali vs bankers in dust-up over "Hitler" remarks

Thursday, November 10th, 2011

Celebrity chef Mario Batali’s recent remarks comparing bankers to “Stalin or Hitler and the evil guys” have landed him in hot pappardelle with the clientele of some of his high-end restaurants. While participating on a Time Magazine Person of the Year panel along with NBC anchor Brian Williams, comedian Seth Meyers and taxpayer advocate Grover Norquist, Batali was asked by the moderator, Time's managing editor Richard Stengel who he would choose for that distinction. After citing his admiration for Steve Jobs and food activist Michael Pollan, Batali went on to condemn the banking industry for what he characterized as their negative effect on a global scale saying, “So the ways the bankers have kind of toppled the way money is distributed and taken most of it into their hands is as good as Stalin or Hitler and the evil guys. They’re not heroes, they're just people that had a really huge effect on the way the world is operating.” Though Batali later took to his Twitter account to clarify, writing in two consecutive Tweets, “To remove any ambiguity about my appearance at yesterday’s Time Person of the Year panel, I want to apologize for my remarks.” and “It was never my intention to equate our banking industry with Hitler and Stalin, two of the most evil, brutal dictators in modern history,” word had already spread like a grease fire throughout the banking industry. Restaurant gossip site Eater posted a memo that had reportedly been circulated widely throughout trading circles, saying, “Celebrity Chef Mario Batali Says Bankers As Bad As Hitler, Stalin … a list of his restaurants *B&B Ristorante *Osteria Mozza *Babbo *OTTO *Bar Jamon *Pizzeria Mozza *Carnevino Italian Steakhouse *Tarry Lodge *Casa Mono *Tarry Market *Del Posto *Mozza2Go *Esca *Manzo *Lupa Cancel all reservations…..pass the word.” and bankers seem to have taken heed, also bringing their wrath to Twitter in the form of the hashtag #bataligate . Bloomberg News restaurant critic Ryan Sutton jumped into the fray, tweeting accounts of contacts he'd had with outraged members of the finance world saying, ” UBS friend: 'most bankers/brokers have called to cancel resies at Babbo/Del Posto en masse. . . he is going to feel the boycott.'” Sutton also posted ” Credit derivatives trader calls me: 'I spent $4,000 on a white truffle dinner on Monday at Babbo. This is sh!tty. I feel used. #bataligate'” and ” Morgan Stanley Trader messages me on Batali: 'Good luck with your $300 white truffle tasting menu among the 99% #bataligate.'” While bankers and traders aired their ire on Twitter, people in other sectors of the economy relished the chance to finally score one of the notoriously difficult reservations at Batali's higher-end New York City restaurants, which include Del Posto, Esca and his flagship Babbo. Grub Street reported that tables were scarce at most of Batali's Manhattan outposts on the night of the initial boycott. And as always, Twitter had a few requests on the menu. @gattogrigio925 wrote, “So… #bataligate? Hmmm…maybe @Mariobatali could do some reduced-priced 'menus for the 99%'? #hint.” Globe and Mail editor Sarah Lilleyman chimed in, “Best thing about #bataligate = bankers call for Babbo boycott, everyone else celebrates the chance to get a table there.” Twitterer @JonU235 also wanted to know, “Which #bataligate restaurant has a decent meal for around $10? That's my fine dining budget right now. Thanks to bankers.” While the current pasta tasting menu at Babbo costs $69 a person, traditional menu $75, white truffle $300 and a five or seven course set menu at Del Posto are $115 and $145 respectively, a plate of pasta at his pizzeria Otto will set a hungry 99 Percenter back just ten bucks. (White truffles not included.) View This Poll

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Batali vs bankers in dust-up over "Hitler" remarks

Lloyds hit by cost of PPI claims

Tuesday, November 8th, 2011

Lloyds Banking Group reports a £3.9bn nine-month loss, mainly due to the cost of settling payment protection insurance claims.

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Lloyds hit by cost of PPI claims