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Live markets commentary from FT.com
Here’s a talking point: “Socially useful banking.”
As luck would have it, Lisa Pollack has been invited to chair a discussion on this very topic, featuring none other than FT Alphaville favourite, Andy Haldane. (Mr Haldane is the Bank of England’s executive director for financial stability but you knew that.) Read more
Morgan Stanley chief warns on Wall St pay: Morgan Stanley is preparing to wield its axe again with more job cuts and smaller bonuses planned for next year as the investment bank attempts to boost shareholder returns. James Gorman, chief executive, has said that staff and remuneration would have to be sacrificed as banks cope with lower profits. Read more
Where’s an investor to start when it comes to assessing the credit market? Hard-nosed analysis from the top down and/or bottom up? Relying on quantitative factors or more subjective factors?
The credit strategy team at Citi start with four areas of examination that they arrange in a convenient 2×2 matrix when required to explain what they are up to by the outside world: Read more
Asian stocks gained overall on Friday, but Japanese markets were lower and the yen rallied after the Bank of Japan held off from adding to stimulus. (Bloomberg)
Samsung profits rose 85%, beating estimates: Samsung Electronics reported a record quarterly operating profit of $7.3bn, nearly double last year’s figure, as strong sales of high-end TVs and Galaxy smartphones more than offset reduced orders for chips and screens from Apple. Read more