Business

Want to set up a company to trade cryptocurrencies in the City of London. Forget about it.

Lloyd Blankfein tweeted about spending more time in Frankfurt, now London is shunning the fastest growing sector in finance. From the FT

British banks are shunning companies that handle cryptocurrencies, forcing many to open accounts in Gibraltar, Poland and Bulgaria and prompting some to question the UK’s ambitions to be a global hub for the fast-growing fintech sector.

 

Over the past several months, investment banks all across Europe have scrambled to put a price tag on their equity research after years of giving it way as a 'freebie' in return for trading commissions.

Bloomberg’s series on automation on Wall Street has certainly given the hundreds of thousands of highly educated individuals employed in the US financial services industry a lot to think about, like, for example, ‘will my job be here in ten years when it’s time for my oldest to head to college?’”

Authord by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

This week President Trump revealed his final five candidates for Federal Reserve chair. Disappointingly, but not surprisingly, all five have strong ties to the financial and political establishment.

The leading candidates are former Federal Reserve governor and Morgan Stanley banker Kevin Warsh and current Fed governor, former investment banker, Carlyle Group partner, and George H.W. Bush administration official Jerome Powell.

Over the past two months, General Motors' stock has rallied nearly 30% on the notion that hurricanes in Texas and Florida solved the company's nagging inventory problem.  But, even after two of the most devastating hurricanes in U.S. history wiped out hundreds of thousands of vehicles and GM's preemptive elimination of some 6,000 jobs, Automotive News says the company still has a ways to go at certain plants if they want to bring system-wide inventories down to healthy levels.