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’Banks face restrictions on bonuses
Banks will face limits on the total amount they pay their staff in bonuses until they meet more demanding capital requirements, an international body of regulators and central bankers agreed on Tuesday.
Regulators agree rules on bank capital
Regulators have agreed tough new rules for banks that flesh out proposals agreed by G20 finance ministers at the weekend that would force many in Europe to raise tens of billions of euros in capital in coming months.
G20 plans for stimulus exit
World leaders on Thursday set out the first steps toward withdrawing emergency support for the global economy even while warning the crisis was not over. The US, UK, France and Germany called for work to start on “exit strategies to be implemented in a co-ordinated manner as soon as the crisis is over”.
Paris presses G20 on bank bonuses
France is proposing three options for capping bankers’ bonuses, including a targeted tax and a mandatory limit on rewards as a share of profit, which it wants G20 leaders to discuss at their upcoming Pittsburgh summit.
G20 City protest, take deux
Well, it’s reportedly on a Saturday this time so will likely have little impact on City workers. More importantly it’s directed at ‘PIGS of the policing kind — not the capitalist ones.
From politics.co.uk
The activists behind last week’s G20 protests around the Bank of England plan to march again this Saturday.
Finance’s last stand
Think the G20 City protesters were just a bunch of hippie, environmentalist, anarchist Commies? Think again.
Also represented among the G20 crowd were a variety of financial interests. For instance,
Old world news values in the ‘New World Order’
It’s official, forget the world as we knew it. We are now living in a New World Order (NWO), according to Gordon Brown and his G20 pals.
But just to reassure you that the “old” world still exists,
Soros gets his way with the G20
The G20 communiqué is officially out.
Among the collective promises to persecute stamp-out tax havens, is this interesting little decision on IMF special drawing rights (SDRs):
19. We have agreed to support a general SDR allocation which will inject $250 billion into the world economy and increase global liquidity,
The G20 goodie bag
As every good party planner will tell you, you can’t stage a high-profile London event without the compulsory giveaway of end-of-the-night goodie bags.
So what might the G20 leaders expect from their goodie bags as they leave London’s Excel centre?
By way of precedence,
IMF chief accuses G20 leaders
G20 leaders are avoiding the critical issue of cleaning up banks’ toxic assets and could prolong the global recession, IMF chief Dominique Strauss-Kahn told the FT ahead of Thursday’s G20 summit in London.
G20 protests leave one dead
Anti-capitalist protesters are set to march on Thursday on the G20 summit being held in London’s heavily-guarded Docklands conference centre, after the Bank of England was besieged on Wednesday and one person died amid violent protests,
‘JUMP bankers!’
Clad in an army surplus jacket, baggy jeans and the obligatory scuffed trainers, FT Alphaville set forth to the G20 City protests.
The marchers, divided into four individual groups covering money crimes,
Twitters from Threadneedle street
A 21st century anti-capitalist/poverty/climate change/protest calls for 21st century coverage. Introducing mass professional and citizen reportage from the scene via Twitter.
Here some highlights of the day so far:
Protest in the City, in pictures, part two
Continued from part one – an FT Alphaville photo diary of the G20 protests.
The ghostly figure of Death by Natwest/RBS.
Guy Fawkes and err, a banker-looking bloke drinking beer.
Amusing signage.
Protest in the City, in pictures, part one
FT Alphaville was there to document the discord, in disguise naturally.
Bit of police man-handling by Cannon Street station.
Smug bankers beware.
Police line by Bank.
By the Bank of England.
Where’s the real brawl at G20? Just ask Japan’s PM
If the Japanese prime minister is correct, the real brawl at the G20 won’t be on the streets of London but inside the meeting rooms. While protestors are gearing up for marches and London is battening down the hatches,
Protest in the City
Bit of a mixed message below, but here’s the schedule for Wednesday’s protests. To avoid/join/observe as you will.
Be warned cityworkers, do not antagonise protesters
Here’s some helpful advice from the City of London Police on how best to prepare for this week’s expected G20 protests if you happen to be a City of London-based business:
# Cancel unnecessary meetings
‘No fire power left’
David Bloom, Global Head of FX Research, at HSBC thinks the world has run out of fire power. Consequently, as there won’t be much more policy reaction after the G20 meet and because markets won’t be patient and wait for action already taken to become effective,
G20 communiqué competition
Can you write empty words?
Are you, perhaps, a state-sector policy wonk, already drafting and re-drafting the solemn declaration that will be issued to a quivering world next week when leaders of the globe’s self-anointed Group of 20 nations break up from their summit in London?
Either way we are looking for the best summary of the likely official guff.
G20: Discussing the shape of international reserves to come
George Soros, general investment luminary and chairman of Soros Fund Management, writes in Monday’s FT how the forthcoming Group of 20 meeting in London on April 2nd will likely be a make-or-break event.
Forex failure continues in Poland
It’s getting bleaker by the minute in Eastern Europe. In case you didn’t catch the latest from the Telegraph’s Ambrose Evans-Pritchard, he warned at the weekend how a growing crisis in Eastern Europe could cause nothing less than a total collapse in the West,
G20: Concordia discors
There were high expectations – a new Bretton Woods no less. Others said nothing would be achieved without Barack Obama in presidential office. So what did this weekend’s G20 meeting actually decide, if anything?
FT columnist Clive Crook notes with curiosity just how little attention was paid to the summit by the media:
G20 to step up financial oversight
Leaders of the G20 countries pledged to shore up global growth, avoid protectionism and move quickly on regulatory reform at their weekend summit in Washington to address the economic crisis, reports the FT.
US to host G20 world summit over crisis
The White House said it would invite world leaders to a global financial summit in Washington next month. The US is planning the meeting with the heads of state of the G20 countries, which include some of the countries most affected by the crisis in the developed world as well as emerging markets such as Brazil,