Davos 40th birthday clouded by banks row, recovery doubts
(ChinaPost.com.tw) – Here is a summary of the main talking points at the 40th anniversary World Economic Forum (WEF) meeting in the Swiss ski resort of Davos, which ended Saturday.
Korea banks’ bad-loan ratio falls on write-downs
(ChinaPost.com.tw) – South Korean banks’ bad-loan ratio dropped to 1.22 percent of total lending at the end of December as they reduced the amount of non-performing loans through sales and write-downs.
Political prying biggest risk facing banks, say bankers
PricewaterhouseCoopers report calls for a measured response to allow the banking industry to play its part in the economy Senior bankers are complaining that political interference is the biggest risk facing their industry despite the billions of pounds of taxpayer money being used to prop up the banking system.Stephen Hester, chief executive of Royal Bank [...]
Reason #4 to Short the U.S.: The Banks
Filed under: Bad News, Goldman Sachs Group (GS), Morgan Stanley (MS)Banks are the kink between the financial markets and the Main Street economy. They are also the lubricant — when they are lending — of a growing economy.Using time-honored but now…
Monroe Muffler Is Running a Little Hot
Ockham Research submits: “The auto repair company that I have been mentioning for a long time on this show, Monro Muffler, MNRO. The largest pure play, under-car service chain company in America, with 780 locations. This is a twice-blessed sto…
U.S. bank bailout encourages risky behavior: watchdog
WASHINGTON (Reuters) – The U.S. taxpayer-funded rescue program set up to save banks from collapse during the financial crisis makes future reckless behavior more likely, the government’s bailout watchdog said in a quarterly report.
Bank levy wins global support as push for Tobin tax loses momentum
Leaders at Davos economic summit appeared to be deserting the idea of a Tobin tax on banking industryThe prospects of a global tax on financial transactions were receding fast this weekend amid signs that countries were swinging behind an alternative plan to impose an insurance levy on banks.Both David Cameron and Alistair Darling expressed support [...]
Life would be wonderful if banks were simpler | Ruth Sunderland
Bob Diamond’s remarks demonstrate the urgent need for cultural change in the banking sectorIT MIGHT be a tense flight to this week’s G7 meeting for Alistair Darling and Mervyn King. The gathering of central bank governors and finance ministers is being held in Iqaluit, Nunavut – that’s in the wilds of Canada – a venue [...]
Bank of England fears new crisis when stimulus ends
Bank may echo US warnings over future rise in ratesThe Bank of England is poised to follow the US by warning high street banks of the new risks they face from future rises in interest rates and the current upheaval in the bond markets.Deputy Bank of England governor Paul Tucker has admitted that UK authorities [...]
Regulators to bankers: New rules coming
Regulators from the world’s major developed countries told bankers that greater regulation is on the way, a defensive move aimed at avoiding a repeat of last year’s financial meltdown.