British banks that fail to shield their day-to-day banking from risky investment activities will face being broken up, finance minister George Osborne said on Monday.
Britain is shaking up its system of bank regulation following the 2008 financial crisis, when the government poured 65 billion pounds ($102 billion) of taxpayers’ money into rescues of Royal Bank of Scotland and Lloyds.
Live video: JPMorgan CEO Jamie Dimon testifies before Senate Banking Committee on $2 billion trading losses.
WATCH LIVE: Former FDIC chairwoman Sheila Bair speaks with Reuters on the topics of banking regulations and the JPMorgan trading loss. The interview streams live on our website at 10am ET.
The rise of mobile isn’t a menace to the likes of Google, Facebook and Amazon. It’s potentially the biggest windfall of their lives, because making money in mobile will be all about building a revolutionary new payments system. Banking in 20 years will be profoundly different from what it is today, and the companies that Eric decries are very likely to be the ones who win the most.
Paul Higgins- I would not be so sure. This will be an inteersting headline to highlight in five years time one way or the other
Google and Facebook Dead in 5 Years? Fat Chance! - Forbes (via futuristgerd)
(via emergentfutures)
Source: futuristgerd
Mafia now "Italy's No.1 bank" as crisis bites: report
James Mackenzie for Reuters - Organized crime has tightened its grip on the Italian economy during the economic crisis, making the Mafia the country’s biggest “bank” and squeezing the life out of thousands of small firms, according to a report on Tuesday.
