08

Jun

Bank of England drafts action plan to head off coronavirus recession

Mark Carney has said the Bank of England is coordinating with the Treasury and international partners to deliver a “powerful and timely” response to the coronavirus outbreak, as investment bank Goldman Sachs warned the disruption could push the UK to the brink of recession. Carney, the Bank’s governor, said the economic hit could prove large but would “ultimately be […]

08

Jun

Credit Suisse slashes ousted CEO’s bonus by almost £2m

Credit Suisse has cut the pay package of its former chief executive Tidjane Thiam by almost £2m after ousting him last month over a corporate espionage scandal. In its annual report, the Swiss bank confirmed it had slashed Thiam’s short-term bonus by a third, taking his total pay packet for 2019 down to 10.7m Swiss francs (£9.2m). The 57-year-old[…]

08

Jun

The US can teach Europe a thing or two about financial crises

The US model of capitalism is deeply flawed. It is highly unequal, and an inadequate welfare system means that millions of people are either living in poverty or constantly teetering on the edge. Citizens of the EU have it cushier, with more generous pensions, unemployment pay and in-work benefits. But as the events of the past month[…]

08

Jun

Digital marketing and sales as growth drivers

Due to the continuing digitalization of all areas of life, bank customers’ behavior and expectations are also changing—digital channels and therefore also digital marketing are gaining importance. Banking products should fit seamlessly into the—increasingly digital—everyday life. A survey conducted by GfK on behalf of Google and Postbank[1]reveals that almost 90 % of all bank customers initially search[…]

06

Apr

Bailey rejects monetary financing as tool in virus crisis

Bank of England governor Andrew Bailey has rejected suggestions the central bank should use monetary financing to protect and boost the economy amid the coronavirus crisis, saying it would “damage credibility on controlling inflation”. Writing in the Financial Times, Mr Bailey signalled he would oppose any calls for the BoE to print money to allow the government[…]

06

Apr

Stock futures rise as investors monitor corona virus case counts

Stock futures rose Sunday evening as investors braced for another week of closely monitoring developments around the global coronavirus outbreak and policymakers’ responses to the pandemic. Over the weekend, new coronavirus cases continued to rise in major centers around the world, albeit at an at least temporarily slower pace than in recent weeks. The state of New[…]