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Chip Somodevilla/Getty Images Treasury secretary Steve Mnuchin called top bankers Sunday following a tumultuous month for US markets. Monday, he will meet with top government officials overseeing the economy. On Sunday, Mnuchin addressed reports that Trump sought to fire Fed chairman Jay Powell following increased interest rates, tweeting a statement of denial. The U.S. Treasury […]
RECENT visitors to Jackson Hole, a resort in the Teton Mountain range in Wyoming, were denied the usual scenic views by a shroud of smoke from recent forest fires. Disappointing, no doubt, for the tourists among them—but oddly fitting for the economic panjandrums attending the Federal Reserve Bank of Kansas City’s annual symposium on August […]
REUTERS/Andrew Burton Bankers in their 20s and 30s are being admitted to the hospital more frequently with cardiac conditions and heart attacks, cardiologists in the UK told Business Insider. One doctor estimated he’s seen a 10% rise in bankers under 30 being admitted to the hospital in the last decade. One former banker shared her […]
GUEST: I vividly remember a distinct shift that occurred in the late 1990s in our common perception of the internet. Ambitious startups like Google, Yahoo, and Amazon began to break through the mainstream barrier, and traditionalists that once labeled computers a passing fad for the intrinsically tech-savvy started to recognize their tremendous pot…Read More
REUTERS/Carlos Jasso The Bank of International Settlements on Sunday said bitcoin is “a poor substitute for the solid institutional backing of money.” Critics in the crypto world say the report missing the point — bitcoin and other cryptocurrencies are still in development and shouldn’t be judged yet. Circle CEO calls the report “shallow” and said: […]
David Moir/Reuters Twenty six percent of British bankers believe their job negatively impacts their health and wellbeing. That’s according to the third annual review from the Banking Standards Board. Investment banking, long seen as the pinnacle of the banking industry, was more likely than other areas to negatively impact workers’ health, the survey showed. However, […]
Butternut Box Former Goldman Sachs investment bankers Kevin Glynn and David Nolan quit the company to launch a homecooked dog food delivery service. They were initially backed by two of their Goldman bosses. After raising £1 million in funding in October, last week they announced a further £5 million in investment. Their clients include celebrities […]
Citigroup Citigroup’s investment bank has been showing signs of progress and competing among Wall Street’s best. We asked two of the bank’s top executives what they look for when hiring senior investment bankers. Performance matters, but it’s not the only thing. “We can’t have people on solo missions,” says Raymond McGuire, Citi’s global head of […]
Enlarge / Deutsche Bundesbank President Jens Weidmann during a keynote speech at the Bundesbank European money and finance forum in Frankfurt, Germany, on February 8, 2018. (credit: Krisztian Bocsi/Bloomberg via Getty Images) On Wednesday, a top German central banker told a conference in Frankfurt that replacing cash with bitcoin and similar cryptocurrencies is too risky […]
IN THEIR quest to stabilise the job market, central banks are setting a bad example. Jerome Powell, whom senators this week confirmed as the next chairman of America’s Federal Reserve, will lead an institution with three existing vacancies on its seven-member board, and a fourth that will open up imminently. Not since July 2013 has […]
