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04 March 2013
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News on the global financial markets

  Morning Bell 
  • AFME's Lewis tackles unintended consequences of rules
    AFME CEO Simon Lewis faces myriad challenges as European regulators change rules governing the financial-services industry. Many of those rules, including a cap on bankers' bonuses and a tax on financial transactions, come with unintended consequences, Lewis says. For example, he is concerned that bankers facing a limit on bonuses will move elsewhere. "It's a backward step for Europe," Lewis said, warning that professionals will look to the US, the Middle East and Asia. "This is a very dynamic industry, and people can move." The Times (London) (subscription required) (04 Mar.) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • 2013 might be a rebound year for investment banks
    In a possible rebound year for global investment banking, JPMorgan Chase stands at the top, according to Bloomberg Markets' ninth annual ranking of the best-paid investment banks measured by fees. However, much could change during the year, even as analysts project renewed corporate interest in big deal making. Bloomberg Markets magazine (01 Mar.) LinkedInFacebookTwitterEmail this Story
  • Barclays is committed to investment banking, Jenkins says
    Barclays CEO Antony Jenkins has launched a reorganisation of the bank but says it remains committed to investment banking. Jenkins expects Barclays to achieve modest revenue growth amid a changing regulatory environment and a challenging global economy. "I believe we are operating in a fundamentally different atmosphere to the one that affected the industry in the last 30 years," Jenkins said. CNBC (01 Mar.) LinkedInFacebookTwitterEmail this Story
  • Italy's bond rating is under pressures, Fitch says
    Fitch Ratings says Italy's bond rating is facing increasing pressures amid political instability after an election. Instability "has the potential to disrupt policy making and reduce policy continuity, and to weigh further on an already weakening economy", according to Fitch. "Fiscal consolidation alone, without economic growth, will not be sufficient to stabilise the debt-to-[gross domestic product] ratio." Bloomberg (01 Mar.) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • Analysis: Economic woes put pressures on central banks
    Central banks in Europe and the US likely look at China's economic growth with envy, but the People's Bank of China has its own challenges. Louis Kuijs, an economist at Royal Bank of Scotland, says the West is hoping China will drive the global economy, while China is relying on economic improvement in the West to boost exports and corporate investment. Reuters (04 Mar.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  • PBOC ties reforms to rising foreign demand for yuan
    The People's Bank of China is shifting its strategy for relaxing capital controls by focusing on increasing foreign demand for the yuan. The central bank is concerned that liberalisation of capital controls will trigger another currency crisis and thinks this approach will protect the economy from such risk, sources say. Reuters (03 Mar.) LinkedInFacebookTwitterEmail this Story
  AFME News 
  • Early-bird registration is open: AFME 6th Annual European Post-Trade Conference
    Registration is open for AFME's 6th Annual European Post-Trade Conference, scheduled on 23 May at the Lancaster London hotel. This event brings together eminent speakers from across the industry, including senior operations executives and key regulators, and offers insights into crucial developments in the post-trade space and their impact on the industry.

    Register to secure your place.
    • Early-bird member rate (available until 11 April): £299
    • Early-bird nonmember rate: (available until 11 April): £609
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The man who insists upon seeing with perfect clearness before he decides, never decides. Accept life, and you must accept regret."
--Henri Frédéric Amiel,
Swiss philosopher, poet and critic

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