Finserv Reading - Week ending January 28, 2024

Bijon Mehta Bijon Mehta

Bijon Mehta

Chief Operating Officer I Enterprise Software I Adjunct Professor @ Fordham University

Published Jan 28, 2024
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Banking

JPMorgan vs Goldman: How Jamie Dimon's bank gains from the confidence factor

Regional banks had another ugly quarter 

The Gorman prophecy: why European banks might just bounce back

Lloyds cuts branch jobs as customers go digital

Digital banking trends for 2024

SocGen mulls putting digital bank Shine up for sale

Navigating the digital banking landscape: Challenges and opportunities for financial institutions

Does banking's digital focus endanger deposits?

Citigroup cuts investment banker bonuses by up to 20% amid overhaul

UK's progress on open banking has slowed, Finance watchdog says

Why all retail banks should copy HSBC's launch of Zing

Why one giant regional bank no longer wants to be a regional bank

If bank capital has to be higher, let's regulate nonbanks

Charge-offs and bigger reserves: Inside the CRE crisis at the regional banks

Flat is the new up for banker bonuses


Wall Street

The most important man in finance you've never heard of

Will the IPO market spring back in 2024?

The T+1 train will soon hit markets

Billionaire Howard Lutnick is taking on exchange giant CME

Companies rush to bond market in record $150 million debt splurge

Foreign central banks think twice on US Treasuries


Economy 

The risks of relying on superpowers to protect global trade

What recession? The US economy grew 3.1% in 2023

A titanic geopolitical struggle is underway

The world must start to prepare for Trump 2.0

Shipping costs soar in wake of Red Sea attacks

Is the world economy deglobalizing?

The IMF is an anchor adrift in a changing world economy


Asset Management

Abrdn cuts are deep in an industry feeling the pain

Abrdn to cut hundreds of jobs as part of GPB 150 million restructuring plan

Ken Griffin is the top money manager - again

World's largest hedge funds record bumper year on profits

Rising markets life hedge funds to huge gains

Elon Musk is comparing index fund consultants to ISIS

Cathie Wood says Ark has 'paid its dues' after chalking up 68% gain


Wealth Management  

What  learned when I stopped watching the stock market

Charles Schwab just survived a year from hell. The trouble isn't over yet.

Top 10 trends shaping wealth management in 2024

Drop in RIA M&A in 2023 likely to be blip in upward trend


Insurance

Insurers rake in profits as customers pay soaring premiums

Why insurtech remains steady as other fintech segments falter

Evaluating the insurance industry's digital progress

The importance of streamlining payment options for insurance customers

UK insurtech funding defies global trends


Real Estate   

WeWork wrestles to amend leases as landlords seek clarity on restructuring plan

30yr mortgage rates below 7%

Housing market predictions 2024: Will real estate crash?

New home sales continue to grow

Housing market data is warning sign for Americans

Brutal winter across America is keeping the housing market on ice


Payments 

Credit card debt is up - and it's taking longer to pay down

PayPal and Venmo unveil 6 new innovations to revolutionize commerce

Affirm ventures into the brick and mortar world

Digital payments change 'basic plumbing' of Indian society

More tenants can now add rent payments to their credit score


Venture Capital / Private Equity

Blackstone plans deal spree to pre-empt market revival

Mid-level masters of the universe risk being sidelined in Blackrock deal

Blackrock shake-up aims to meet investor demand for new funds

Ten considerations for private markets in 2024

Another sign that venture capital is slowly improving

PE worries climb as investors increasingly claw back incentive fees

High interest rates crushing startup investments. Here is what could revive it.


AI / ML

Rob Arnott: the 'big market delusion' in AI stocks

The likely winners of the generative AI gold rush

How we can control AI

Can AI solve legacy tech problems? Companies are putting it to the test

Elon Musk's AI startup seeks to raise $6 billion from investors to challenge OpenAI

The AI revolution is generating some investor 'hallucinations' too

Bloomberg's first generative AI tool hits the terminal 


ESG / Climate Change

World Bank and Citi launch $100mm plastic credits bond

Sales of climate-focused mutual funds fall 75% in two years

Reading, writing, math... and climate change?

The Roman Empire's worst plagues were linked to climate change

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Climate change drove drought in the Amazon

'We're all climate economists now'

Insurers in talks to overhaul net-zero group after member exodus

Net zero, explained

Ikea decouples growth from emissions

Mark Carney's net zero alliance facing overhaul after backlash

Using AI tools to mitigate climate change insurance risks

Climate disasters prompt another home insurance company to leave a state

Managing climate change risks - the role of insurance

A dry Panama Canal shows how vulnerable the economy is to climate change

Climate concern grows nationwide, even in Republican states


Bigtech 

Can the IRS's new free tax filing tool replace TurboTax? We tried it out

The main driver of Apple's success has become its biggest liability

Palantir's momentum hurt by slowing growth in government deals

Big tech still rules profit growth even as S&P leadership widens

Big tech boom or bust? Experts see signs of strength after wave of layoffs


Fintech  

Understanding the role of embedded finance in the fintech revolution

ION tycoon built fintech empire with billions of dollars in private debt

Collaboration paves the way for next big innovation in fintech

Fintech, including crypto, is reshaping how funds flow worldwide

Can fintech fulfil its promise if we are still asking if it will last?


Blockchain / Crypto 

Bitcoin price falls 15% following launch of ETFs

Grayscale led the fight for bitcoin ETFs. Now its fund is bleeding billions.

Crypto hackers stole around $1.7 billion in 2023

A last ditch plan to save the crypto industry

IRS warns that crypto income gains must be reported on tax returns

Turning assets into tokens on blockchain is $15 trillion market

Layer 2 Network: Power punch for blockchain scalability issues


Regulation / Compliance  

New York DA warns Venmo, Zelle and Cash App fraud putting your financial safety 'at risk'

Big tech's AI partnerships draw inquiry from FTC

SEC chair calls for review of two-day settlement for foreign exchange trades

SPAC mania is dead. The SEC wants to keep it that way.

US bank regulation needs to enter the digital age

US regulator hits back at banks over criticism of tougher capital rules

NY regulators focus on potential for AI discrimination by insurers

SEC Chair Gensler sounds alarm on risks of large AI-fueled financial models


Corporate Venture / Innovation                                       

Walmart lays off 62 people in Seattle area as part of innovation unit shutdown

Google parent Alphabet laying off innovation lab workers

Now is the time to create new corporate ventures

Xerox sunsets CVC


Personal Development / Leadership 

Jurgen Klopp's departure holds lessons for leaders everywhere

Interview on stoicism with Massimo Pigliucci

Here's the strategy elite athletes follow to perform at the highest level

The maxim for every successful person: 'Always atay a student'

Avoid the second mistake

How to build skills that are valuable

Leaders must react

Why introverted leaders are ideal for the postpandemic workplace


Podcasts / Videos  

The Alan Turing Institute: The future of generative AI

The road to depth: Thinking about what character is

Aswath Damodaran: Laws of Valuation - Revealing the Myths and Misconceptions

Adam Grant on the Science of Potential and Achievement

An Evening with Admiral William McRaven

TKP: Tom Gayner - Short-term patience, long-term results

3 things great leaders do differently


Speeches / Communications

Peter Thiel,: 'You are not a lottery ticket'

Michelle Bowman, Member of Board of Gov. of FedRes: "The path forward for bank capital reform"


Research Reports  

BIS: Interchange fees, access pricing and sub-acquirers in payment markets

BoE/HMT: Digital Pound

BIS: Irving Fisher Committee on Central Bank Statistics

Telecoms and banks connect

BIS: Regulation, information asymmetries and the funding of new ventures

BIS: AI in Central Banking

WEF: The Future of Growth 2024

WEF: TradeTech Catalyzing Innovation 2024

WEF: AI Governance Alliance

CBInsights: The Future of Big Tech

UN; Casinos, Money Laundering, Underground Banking and Transnational Organized Crime in East and Southeast Asia

PwC: Global IPO Watch - January 2024

KPMG: EV Transition

McK: How CEO's can mitigate compounding risks

McK: Global Economics Intelligence - Dec 2023

CitiGPS: Supply Chain Financing

WEF: The Global Cooperation Barometer 2024

Coinshares: Outlook 2024

Global Crypto Policy Review and Outlook 2023/2024

CBInsights: State of Venture

Open Banking API's Worldwide

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