A library of snippets
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Global debt issuance rose 4 per cent to $7tn last year, netting investment banks overall revenues of $23.3bn, according to data company Dealogic.
In contrast, investment banking revenues from trading fixed income, currencies and commodities — the FICC segment that used to be one of Wall Street’s dominant money machines before the financial crisis — shrank again last year, by 10.5 per cent to $68bn, according to Coalition, another data company.
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If the Commission truly seeks to achieve a balanced market with proper competition, it should redress the design errors in the PSD-2 and allow banks to ask fees and allow them reciprocal access to the customer data.
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We are experiencing a fundamental paradigm shift in our relationship to knowledge. From the ‘information age’, we are moving towards the ‘reputation age’, in which information will have value only if it is already filtered, evaluated and commented upon by others.
From Say goodbye to the information age: it’s all about reputation now | Aeon Ideas.
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Analysis by Payments UK suggests that by 2018, 13.4 billion debit card payments are predicted, of which 4.6 billion (or one in three) are expected to be contactless. Cash is expected to be used for 13.3 billion payments in 2018, meaning it won’t be the most frequently used payment method for the first time.
From Debit cards set to overtake cash in the UK three years ahead of sch….
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World of Warcraft in-game markets are going insane this week after Blizzard opened up an exchange for players to use real money to buy WoW Tokens.
From How Trump strategist Steve Bannon wasted $60m on World of Warcraft | afr.com.
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“A total of £236m was lost last year, with banks unable to return nearly three-quarters (74%) of the money lost. Victims think they are transferring money to someone official, such as a solicitor. They often occur when people transfer money during a housing transaction, or when paying an invoice for work done on the home. The fraudsters may have intercepted mail or hacked emails, then pose as the legitimate business by sending a payment demand. Legal back-up This is the first time such calculations have been made by UK Finance, showing that there were 43,875 reported cases of these scams. Nearly nine in 10 (88%) of these were consumers, who lost an average of £2,784. The rest were businesses who lost on average of £24,355 per case.”
From “Payment fraud: Millions lost in money transfer trick – BBC News”.
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As a source of capital for business, equity markets no longer register on the radar screen. In both Britain and US, funds withdrawn through acquisitions for cash and share buybacks have recently routinely and considerably exceeded the amounts raised in rights issues and IPOs.
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» View all newsNext story »591012APP scam data published for first time14 hours ago | 2499 views | 0UK consumers lost £236 million to authorised push payment scams in 2017, the first year that Britain’s banks have reported data on the fraudulent activity
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Why is it that a single savvy security guy can uncover a giant botnet with, essentially, the work of an afternoon, but Twitter has failed to detect it for going on ten years?
From Suspicious likes lead to researcher lighting up a 22,000-strong botnet on Twitter | TechCrunch
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A total of £14million was stolen from contactless cards and devices in 2017. The total amount spent using the tap-and-go system doubled from £25.2billion in 2016 to £52.4billion last year.
From Contactless boom fuels 51% surge in tap-and-go fraud | Daily Mail Online
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