A collection of stories from SmartBrief publications and around the web…
Gold? Silver? Or Bronze?: From a commodity standpoint, which type of Olympic medal would you prefer? As the medal count keeps climbing in Sochi, OpenMarkets offers an analysis of which medal … err, metal … is really most valuable.
When Wall Street helps: Great story about a former JPMorgan hedge fund banker halting his finance career to lead the charge in funding research to cure for Duchenne muscular dystrophy to save his son. Ilan Ganot did what any dad would do; and his friends in finance have stepped up to help.
Branding and fees breed breakage: Consumers have not forgotten the financial crisis. And traditional banks increasing fees for basic services like checking and ATMs equates to inviting customers to leave. So when beloved, non-financial brands like Starbucks and Google unveil financial services offerings, it is no wonder they capture market share. (read more…)
A roundup of all the best financial news and analysis from Days 3 and 4 of the World Economic Forum Annual Meeting in Davos, Switzerland.
Central bankers tout improved financial regulatory oversight: Featuring the leaders of the Bank of Japan, Bank of England, European Central Bank and International Monetary Fund, the “Global Economic Outlook 2014″ panel was the power session from Friday’s agenda. IMF Managing Director Christine Lagarde and Wolfgang Schäuble, Federal Minister of Finance of Germany, touted the importance of financial regulatory reform efforts underway around the world. ECB President Mario Draghi shed light on the value of upcoming stress tests for European banks. ““Our most important objective is to shed light on what is in the banks’ balance sheets, which should be done in an operationally effective and completely transparent fashion,” Draghi said.
Blankfein on emerging markets; dangers of financial technology: Goldman Sachs Chairman and CEO Lloyd Blankfein was all over the TV chat sessions. (read more…)
A roundup of all the best financial news and analysis from Day 2 of the World Economic Forum Annual Meeting in Davos, Switzerland.
Global bank capitalization much improved since crisis: Despite talk that little has changed, banks’ capital positions are much better than they were before the financial crisis, Bank for International Settlements General Manager Jaime Caruana said on CNBC. The quality of capital also has improved, a factor that is sometimes overlooked, Caruana said.
Mixed messages from ICBC: Jiang Jianqing, chairman of the Industrial and Commercial Bank of China, talked with CNBC Thursday in Davos and ruled out the possibility that the bank would repay investors for losses related to a fund product that soured. But that doesn’t jibe with what local media reports back in China. Shanghai Securities News quotes an unnamed ICBC official as saying, “ICBC won’t ignore the issue of its reputation. … The ICBC has not shirked its responsibility and pushed these investors to go chase China Credit Trust Co Ltd for payment. (read more…)