Results tagged “banks”

Connect those beyond the estate

By Jon Massey on September 13, 2012 11:34 AM |

SOCIETY_blog.jpgWharfers are two phones people. Married to technology. Glued to drip feeds of information.

I watched a lady on the DLR yesterday - mid 40s, greying, severe jacket, oversize bead necklace, stern gaze through thick-rimmed spectacles - attempting to juggle an iPad, BlackBerry and an iPhone 4s.

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• The ratings agency Moody's is expected to downgrade some of Britain's biggest banks as early as this evening, according to the Daily Telegraph.

It is thought that Canary Wharf based banks Barclays and HSBC face a cut in their ratings by as much as two notches as the eurozone crisis continues to hit the world banking system.

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Canary Wharf will become the biggest employer of bankers in Europe in the next couple of months, finally overshadowing the centuries-old preeminence of the City.

The decanting of 8,000 jobs by JP Morgan from the Square Mile to 25 Bank Street will turn the estate into the country's - and Europe's - top financial hub sometime in July.

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BOOK
The Fifth Witness by Michael Connelly
Orion Books, £18.99
5/5

IN A NUTSHELL
In his 23rd novel, Connelly takes his Lincoln Lawyer hero into the seedy world of credit crunch property foreclosure - it's a blast, no really.

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New EU rules came into force this month designed to limit the size of bankers' bonuses. Extra remuneration in Europe will be capped, with at least half paid in shares or contingent capital.

Also, in a bid to stop what is perceived as rewards for reckless short-term risk, up to 60 per cent of the bonus will be deferred for at least three years.

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