In Hurricane, Twitter Proves a Lifeline Despite Pranksters
As Hurricane Sandy pounded
the U.S. Atlantic coast on Monday night, knocking out
electricity and Internet connections, millions of residents
turned to Twitter as a part-newswire, part-911 hotline that
hummed through the night even as some websites failed and
swathes of Manhattan fell dark.
U.S. Stock Markets Consider Opening on Wednesday
U.S. stock exchanges are looking at opening on Wednesday after monster storm Sandy receded from New York, sources said, and the New York Stock Exchange is testing a
new plan to help resume trading.
Cloud Growth: Strategy, Not Cost-Cutting
Adoption of cloud and as-a-service computing models is accelerating in banking. While costs-savings may be the primary driver, increasingly the cloud is seen as a means of innovation and competitive advantage.
Sandy Shuts Down Wall Street
Hurricane Sandy, the monster
storm bearing down on the U.S. East Coast, strengthened on
Monday after hundreds of thousands moved to higher ground,
public transport shut down and the U.S. stock market suffered
its first weather-related closure in 27 years.
Sheila Bair's 4 Types of Dysfunctional Regulators
Sheila Bair, former FDIC chair and current industry critic, thinks that regulators are partly to blame not only for the financial crisis and the banking industry's continuing lousy reputation, but she also has plenty of criticism for bankers and politicians.
Spain on Track With Bank Sector Reform
Spain is on track to correct
the problems in its financial sector, but needs more decisive
action to deal with challenges facing some banks, the European
Central Bank and the European Commission said in a joint
statement on Friday.
Citi Fined $2 Million by Massachusetts Over Facebook IPO
Massachusetts top securities
regulator said on Friday that his office fined a Citigroup Inc
unit $2 million after research analysts improperly
disclosed confidential information about Facebook Inc's
initial public offering.
Ally Looks to Sell Most of its Mortgage Business
Ally Financial Inc's banking subsidiary
said on Friday that it was looking to sell most of its remaining
mortgage business, the company's latest step toward exiting the
home loan business to focus on its U.S. auto lending and banking
Seen & Heard at BS&T’s 2012 Executive Summit
Hot topics at Bank Systems & Technology’s recent Executive Summit in Phoenix included how to overcome barriers to customer engagement, moving from big data to the concept of “intelligent data,” identifying the next generation of online banking and how to dominate in a “post-channel” world. Along with the discussion was high-level networking and BS&T’s annual Elite 8 Awards Ceremony. Participants in this year’s event included CIOs and other senior execut
Rise of the Mobile Wallet
Two more major m-payments announcements were made this week, as the digital wallet space continues to heat up.
How a Banking Union is Dividing Europe
European leaders meet for a two-day
summit on Thursday where they will try to bridge divisions over
a banking union intended to underpin the euro zone. But
questions over the scheme's scope and mechanisms are likely to
take months to resolve.
Citi Rushes to Replace Corbat in EMEA Top Job
Citigroup's new boss Mike
Corbat is rushing to plug the gap he left at the helm of the
U.S. bank's European business, a major hub for investment
banking income but which still lags other regions by revenue.
What's Behind Pandit's Resignation from Citigroup?
Conflicts with Citigroup's board may have spurred the unexpected resignations of CEO Vikram Pandit and president/COO John P. Havens; Michael Corbat promoted from Citigroup's CEO of EMEA to CEO and director of Board.