35 Burst results for "Us Bank"
Us Gives Hope To Previously Denied Asylum Seekers in Camp on US-Mexico Border
"Could be reopened and they might be able to wait out the asylum process in the U. S. Mexican authorities are working too close. Was the improvised camp along the banks of the Rio Grande, The U. S Department of Homeland Security has not commented And the 22, year old poet who captured hearts of the inauguration of President
Los Angeles Man Arrested After Going Into Mission Viejo Bank, Claiming To Have Bomb In Backpack
"For allegedly walking into a bank, saying he had a bomb. See, sheriff's deputy said the man walked into the one West Bank branch in Mission Viejo around noon today place tonight I'm on the counter. He then told the employee he had a bomb in his backpack. He then walked out. Maybe he's arrested the man and evacuated the area. The bomb squad checked the backpack. Nothing was found. The man never asked for money or threatened employees at the bank. People working to get
Inside Frick Madison in New York
"Now on the eighteenth of march. The frick collection will launch frick madison. It's temporary new home on madison avenue in new york until now the collection of our master paintings and sculptures and decorative arts as in the gilded age mansion on central park bequeath to the public. By the industrialist henry clay frick when he died in one thousand nine hundred nineteen and it's more than doubled in size since then mentioned is now closed for renovation and expansion to accommodate collection and special exhibitions so the collection has moved a few blocks but in tune entirely different. Textual realm freak. Madison is housed in the bath. House architect muscle broilers brutalism masterpiece originally built for the whitney museum of american art in nineteen sixty six recently. The home of the met bria so had to bellini and titian van. Dyke rembrandt mir fragonard gainsbourg. Look in these alien surroundings. I spoke to the deputy director and chief curator xavier salomon. Who's overseeing the concept and installation to find out xavier. I wonder if you could cast your mind back to moment the e. I knew you were going to get the boy a building. Full the frick collection. Tell us what he felt at that moment. It was a combination of relief and absolute terror. I think You know relief because you know the plan was to really put the entire collection in storage be closed for a couple of years while we were renovating the building at the frick and then reopened so the idea that we had a place where we could display. The arts was a huge sense of relief and we had talked to a number of museums about getting a few rooms or a floor. And so did they have having an entire building. We could move. The offices and the entire election was absolutely exciting but terrifying. Because you know. Imagine moving the wallace collection to barbican. Oh the jack ready to this on pompidou. I mean it's just the idea of taking something out of its natural context. Let's say as we as we see it and bring it into something that's totally alien so as soon as we made that decision. That was a lot of thinking and a lot of backwards info about what to do with the building. Did you try out in your mind and on paper all sorts of different alternatives in other words. That wasn't a just a preconceived idea. We're going to do it in the way that you've ended up doing it now. Absolutely and the first phase was a lot of thinking a lot of backwards and forwards on various ideas. You know you have a blank canvas and the bank canvas is exciting but at the same time it's also terrifying because you have so many ways you could go and i still think there are other solutions. We could've used. I mean what we did is by no means the only the only option And i'm sure you know people will like it. People will criticize it. People will think it could have been done a different way but out of all the choices together with my team we filled. This was the most logical one for us and the one we wanted to pursue the one. We thought was most interesting but we definitely did play with all sorts of options on at the beginning. We didn't really exclude anything. I mean we started with even the idea of recreating the rooms in a building. The broil yet so just sort of replicating the rooms of the spirit of the rooms and then of course. We went in the opposite direction. And that's sort of why we got to
UK police won't probe journalist over 1995 Diana interview
"British police say they won't launch a criminal investigation into journalist. Martin bashir over his one thousand nine hundred ninety five interview with princess diana. There have been allegations from. Anna's brother bashir us what he called illegal subterfuge to get the interview charles. Spencer at argued bashir use false documents including fake bank statements. The interview diana famously said there are three of us in this marriage referring referring to prince charles now wife camilla was watched by millions of people. I'm lisa lisera and this is fox.
Bitcoin Isn't Acting Like Stocks, Stocks Are Acting Like Bitcoin
"What's going on guys. It is thursday march fourth. And today i am going to try to flip a mental model. Here's my proposition. Bitcoin is an acting like stocks right now. Stocks are acting like bitcoin so it started this conversation. We need to hop on over to twitter where there is a lot of discussion right now around. Rising treasury yields when the year started the ten year treasury yield was at zero point nine three percent versus the closer to one point four seven percent it is now that yields spiked even over one point six percent last week. So what is driving the rise of these treasury bonds this. Us government debt in short. It's expectations of a stronger economy. Vaccines keep getting rolled out with new ones coming on the market which suggests that all american adults who want to can be vaccinated by basically the beginning of the summer simultaneously. You're seeing restrictions on businesses being rolled back and the market doesn't believe in fact that the fed is going to be able to keep rates as low as they've been or continue the sort of asset purchase programs to provide liquidity that they've been doing now. These rising treasuries have been causing havoc in the public markets and part of the issue is valuations the s. and p. five hundred is currently trading at twenty two ex expected earnings which is close to the highest. It's been in twenty years. In december two thousand nine six months after previous it was trading at fourteen acts with this means that even small changes in the treasury yields which is another way of saying small changes in how appealing bonds are as compared to stocks can cause major spasms particularly for tech companies which are trading at the highest earnings multiples. There is also. I should note some real wildness happening. In the repo markets ribaud stands for repurchase agreement and repos are collateralized short term loans which help financial institutions. Keep money flowing are used by the fed to conduct monetary policy basically the repo rate is a measure of financial institutions with cash willingness to lend on a short term basis. We saw it in insane. Spike in september twenty nineteen when the overnight repo rate rose's highest ten percent and there were still acquitted. He crunches it. Seems like there's something big going on right now in the repo market that we might need to discuss but for the sake of this conversation i wanna keep more broad basically sum up treasuries or freaking equities out and even bringing bitcoin into the conversation. Aucoin desk headline article today reads. Bitcoin hovers below fifty k. As traders await feds take on bond yields quote according to analysts. Comments powell is monitoring events in the treasury market. Might be enough to calm things down encouraging return to a softer dollar that could bode well for bitcoin. Stocks both assets have mostly moved in the opposite direction to the dollar index over the past twelve months however the rally in yields may accelerate leading to a stronger dollar and weaker bitcoin. If powell downplays concerns over rising bond yields taking cues from his european central bank counterparts quote. No such concern from powell would suggest the fed is happy for treasury yields to find the right level as our bond strategy colleagues say potentially triggering another spike in yields and more dollar short-covering ing analysts noted. So what do people think powell is going to say in. Today's comments many things. That powell will try to convince markets that the bank will be ultra patient in any pullback of support for the economy some like bloomberg. Don't think he'll explicitly say they're going to cap long term interest rates instead most think that he will reaffirm the feds determination to meet their updated. Inflation and employment goals employment specifically has been the key here basically. The fed has been more or less saying that they are willing to do whatever it takes until full employment is achieved so even if it seems like markets are steaming. That's fine as long as they can get to full employment. They already previewed this position this week. With comments from fed governor lael brainard who said that. The fed has quote quite a lot of ground to cover to meet its objectives. The question becomes what tools the fed actually has. The first is words. What bloomberg calls forward guidance light fed is currently buying one hundred and twenty billion dollars of assets per month eighty billion and treasuries and forty billion in mortgage backed debt. They could potentially be explicit about when they intend to scale that back rather than leaving it to market guesses they could also be even more definitive and precise about what it would take for them to raise rates. What if words don't work however what would come next while there could be some more. Extreme courses of action. Bloomberg discusses to the first is a resumption of operation twist in which the fed would eliminate their holdings of t. bills which are shorter maturation of usually a year or less and put money into longer dated securities. The benefit would be that it would alleviate downward pressure on t. bill rates which are currently threatening to go negative.
Investor's Business Daily Dow Dives, Tech Stocks Sell Off On Powell Speech As Yields Spike
"Red today after investors feared inflation to come based on comments from Fed chair Drum, Paul Paul said during a Wall Street Journal conference that he expects some temporary inflation in the time ahead. But it likely won't be enough to force the central bank to raise interest rates. Bond rates rose and stocks tumbled. Following the comments on with the continued declines. The NASDAQ is on the brink of correction territory. The index has fallen Close to the official 10% threshold from its February 12th peak of almost 14,100. The last time the NASDAQ officially fell into a correction was in September. It's fallen about 9.7% since that time as they finished 274 points lower today, Dow Closed down 345 points S and P 500 ended down 51 points. I'm Lauren lap
Money Myths That Can Cost You
"In today's episode. I'm going to tell you about some miss around money. I want you to be aware of also extended warranties. Are they ever worth it. Well we gotta talk because there's something over the years that has puzzled me where i've had. It's got to be in the hundreds of times. I've had people say to me that they lead balances open on their credit cards because they wanna raise their credit score and it shows that there's a a lack of some level of understanding about how credit reporting works and credit scores so much so that survey that lendingtree did in january found that just a whisker under half of people think that. That's true that you don't want to even if you can afford to pay a balance on a credit card a month two zero. You don't wanna do it. Because well i'm going to buy a house or i'm going to do this or that or the other and i got to raise my credit score and i don't know where this urban legend started but the reality is there is zero benefit to leaving a balance open on a credit card because you're paying to average credit card somewhere around eighteen percent interest and when you have an open balance the charges he may going forward. The interest is accruing right away daily interest when you pay the balance and full on a card you have a grace period and then you pay that balance that you developed during that billing cycle in full you got an interest free loan from the credit card company now i liked that so whatever wherever however that legend started that is good for you to run a balance. Forget it you know something else. A third of people believe that using credit cards is bad for you that you always wanna use debit card. So i don't know where that one started. The reality is if you've listened to me for any period of time. You know what. I call a debit card. A piece of trash. Fake visa are fake mastercard the credit card it developed as a product during a time that the congress was not corrupt bought and paid for by who they got money from and so congress wrote into law consumer protections for credit cards. There was no thought no idea of debit card. When those rules were developed in the nineteen sixties. You fast forward. The debit card is a product. Really the tens fifty years later so the debit card in an era that the congress is controlled by corporate contributions. the debit card has no consumer protections at all. That's why you see all those endless ads from visa trying to con you into using the debit card from the banks pushing you to use the debit card because it is such a powerful win for them when you use that debit card. Because let's say you buy something online. Use that debit card and the merchant. Never since you the merchandise what happens to your money. it's gone. What happens if the merchant lies to you about the goods and send you something very different than what they represented with a debit card. You're done your money's gone with a credit card under the federal law. I'm telling you about. It was designed in the nineteen sixties. You have these protections in no there. Were not dinosaurs roaming the earth and the nineteen sixties like my kids thing but you have protections to dispute a purchase with a credit card. No such right exists under the law ned. The banks could have gone to congress when they came up with the idea. Debit cards and not fought having these protections but consumers never even got a fair hearing on having any protections with debit cards. But wait it gets worse. So what happens if a crook duplicates your credit card number or steals your credit card. And they're using it. They're using your car. They're using your number your possession your car. You don't even know how they got your number but they're using it. What's your risk. What's your liability with a credit card. Generally zero maximum fifty dollars in the worst circumstances but again no money is left to your hands. You've just dispute those charges with a debit card. What happens well the criminal. Mtc checking account. You have overdraft. They emptied that to. You can have checks bouncing all over the place and the bank is even allowed to collect. All those bounced check charges. And you were a victim of a crime but wait. It gets worse under the rules. Wait there's more under the rules. The bank is the judge jury and executioner on the determination. If you committed the fraud or was done by a fraudster. They are given two weeks to decide and after two weeks. I can say tough. We think you did it. And you're out the money you're out the money or they can issue a temporary credit and then continue whatever their fake investigation is or after two weeks can give you your money back
UK police won't probe journalist over 1995 Diana interview
"Police say they will not launch a criminal investigation into journalist Martin Bashir over his 1995 interview with Princess Diana. The Metropolitan Police Force said today that no further actually taken over allegations Bashir used illegal subterfuge to get that interview. Diana's brother, Charles Spencer has alleged that Bashir used false documents, including fake bank statements and other dishonest tactics to convince Diana to agree to that interview on
Presenting Our Lives as a Living Sacrifice
"What has been said. Before paul's writing these words romans twelve over four romans. Twelve his romans and the whole book of romans. So that matter and one is a real message of the book of well it establishes clearly that we're sinners separated from god but god loved us so much intervene descended son who died for our sins. We must turn from that. Senate put our faith in christ so effectively pulsing. He listened to this in light of what god has done for. You considering the fact that jesus has died for you and giving you salvation in light of this therefore i urge you brothers and the word that he uses airport. Ibc to king james work beseech means urged plea even back. I bet you brothers and sisters. I'm pleading with you. Present yourself to god as a living sacrifice in other words policy. Got us that saying. Hey if you wouldn't mind could you do me a favor. Gotta saying look man. I bought you with a price. I love you and this is what i want you to do. Give yourself to me. Another translation of these verses goes as follows. And i liked this. Here's what a god wants you to do. God helping you take your everyday life your ordinary life. You're sleeping eating drinking going to work and walking around life and place before god is an offering. I like that is take your everyday like here it is. Here's my career here. Are my relationships. Here are my possessions. Here is my ministry. Here is everything. I have my bank account. I give it all to you. Lord i presented to you present your body as a living sacrifice now. Generally sacrifices are dead so it's trickier to present a living sacrifice. Is i think a living sacrifice might have a tendency to crawl off the altar. Her remember the story of abraham. And isaac. When god told abraham to take his son his only son and offer him as a sacrifice and abraham obeyed as did is they made their way up to the place where he would be sacrificed and at one point. Isaac said he. Dad where's the where's the sacrifice. And abraham said god will provide himself sacrifice and so as they made their way up and late isaac alter abraham was prepared to take the life of his own son in at the last moment. of course dangerous. Stop them because it was never. God's will to take the life of abraham son but it was god's will to see abraham would commit everything until the lord. But here's an interesting thing you know. We don't realize maybe because sometimes in film and religious art isaac is portrayed as a very small boy fact of the matter is is probably a teenager is a young man probably full grown. So i'm very easily as dead was laying on the altar is it could have said you know what you're getting kind of old. Why don't we sacrifice you. But is gwen along with it in. This story is in the bible for a number of reasons. But it's a picture of god sending his son. The father loved us so much. He gave his only begotten son. But let's not forget that the sun willingly laid his life down so present yourself to god as a living sacrifice. What does that mean. It means we give our total bean bodies being jer. Total being so. We need to present our minds. Present your mind to god. What does that mean. Spill your mind with the word of god not the junk of this twisted
Alex Lieberman and Austin Rief Discuss the Origins of Their Company Morning Brew
"Year was quite easy me. Because i didn't have to re- recruit for any jobs. I only take two classes and two other than playing a lot of fi fi. nhl and other video games. I was like. I need to do something to pass the time and keep myself sharp for my job. All right so started helping other students prepare for job interviews and i would always start my mock interviews by asking the question. How do you keep up with the business world and the answer to that question was typically something along the lines of the wall street journal or cnbc etc. And i would dig a little bit deeper. I say why. Do you read these things and the students would say something along the lines of you know. I read it because that's what my parents told me to do. Because it's a prerequisite saying while reading business but it's dense and dry and i don't have enough time in my day to read the journal cover to cover and so at some point i was like this is crazy. These kids are working their asses off to have careers in business yet. They don't have content. That story tells the business world in a fun. And engaging way right and so i started writing a daily newsletter at the time was called market corner. It was a pdf that i'd put together using microsoft word and then exported into a pdf. The logo was bearable in a bullfighting literally. Took it off google. It had the watermark going across and send it out to a serve every day over email. One of the early readers. Was this guy named austin reef and austin revealed me and was like. Hey i have some ideas for how we can make market corner better. Can we chat wow. We met up for a conversation and quickly. I didn't think to myself. Wow this is my co-founder because it wasn't even a business. It was lobby. Yeah i thought to myself is. Everyone is really good at telling me. I'm doing a great job with this thing. Edit is wildly unhelpful. To actually make it better. Austin was the only person that i had spoken to who actually gave constructive feedback on. How market corner could get better. Yeah that's when i knew. It was a complementary brain to mind somebody who thought linearly objectively and so. I brought him on his. Let's call it like a partner at the time and one thing led to another and we ended up launching morning brew together in march of twenty fifteen. I think austin. You're also a student right at of michigan. Both you guys were there right. Yeah so most people initially reading this right university of michigan and you were just alex. You're just writing short newsletter linking bigger articles about the specific topic basically. Yeah it was. It was basically like fifty one hundred fifty word blurbs with link out to the full story and then kind of this other brain food related to business right like investor of the day stock pitch of the day. That's what it wasn't the beginning. And austin you come aboard near like hey you can really do this a lot better. And here's how so. When did you decide. Like how did you get to the point where the two were like. You know what forget about our jobs. Let's jump into this newsletter thing. It wasn't an easy decision. So alex had the job lined up at morgan stanley. I was interning at molson and company. Which is a investment bank in new york city and very quickly. I realized that that wasn't the path for me. And so we wanted to be entrepreneurs we had an idea and so we thought why not give it a chance and we saw growth. We saw this grow from michigan to other big ten schools to ivy league schools to i think the big inflection point is when we soul older people reading. We thought there's something for college students when we realized this could actually be read by anyone. That was a big moment for us when we thought wow. This has potential to be read by tens of thousands but a
Fed's Beige Book Shows Businesses Optimistic on Vaccine Take-Up
"The Federal Reserve is that with its latest monthly economic report, the Feds report is known as the Beige book, and it's based on surveys of business contacts by the feds 12 regional banks, With more covert 19 vaccines going out and into people's arms. Those contacts expressed optimism about a stronger economic rebound Reports on consumer spending. An auto sales were mixed last month, while manufacturing showed moderate gains. Despite supply constraints. The beige book will form the basis of discussions when Fed policymakers Meet later this month. They're expected to keep the Fed's benchmark interest rate at a record low 0 to 1 Quarter of 1% and again signal rates will not
I.C.C. Will Investigate Accusations of War Crimes in Israeli-Occupied Territories
"An investigation into alleged war crimes committed in the Palestinian territories since 2014. Probable target both the Israeli military and the Palestinian militant group Hamas. It comes after the IC C ruled last month that it has jurisdiction over territories occupied by Israel, including the West Bank and the Gaza Strip. The Palestinian Authority has welcomed the investigation. Israeli Prime Minister Benjamin Didn't ya? Who has accused the court of hypocrisy and anti Semitism? For more. Now we can get
Fed survey finds modest gains in the US economy in February
"The federal reserve's latest survey of business conditions across the country find economic activity expanded modestly last month the fed's report is known as the beige book and it's based on surveys of business contacts by the feds twelve regional banks with more covert nineteen vaccine is going out and into people's arms those contacts expressed optimism about a stronger economic rebound reports on consumer spending and auto sales were mixed last month while manufacturing showed moderate gains despite supply constraints the base but will form the basis of discussions when fed policy makers meet later this month they're expected to keep the fed's benchmark interest rate at a record low zero to one quarter of one percent and again signal rates will not rise for the foreseeable future Ben Thomas Washington
How The Covid Shock Nearly Destroyed The Financial System
"A year ago. Today we reduced stock market exposure and credit risk in the money for the rest of us plus adaptive model portfolios overall investment conditions were downgraded to read or bearish for the first time since money for the rest of us plus was launched back in december twenty fourteen economic trends have been read for nine straight months but with the uncertainty of the coronavirus and the sharp deterioration of market trends and mark momentum with very high fear among investors. We reduced risk. We took preventive action in the face of uncertainty. We weren't exactly sure what was going on. How bad it could get this past week. I read three government reports the report of the president's working group on financial markets overview of recent events and potential reform options for money market funds was published december. Twenty twenty i read. Us credit markets interconnectedness and the effects of the covid economic shock published by the us security and exchange commission published in october twenty twenty and i read the financial stability report published by the us federal reserve in november two thousand twenty after reading the reports. I was frankly alarmed about how bad things could have gotten had the federal reserve not stepped in in their role as lender and liquidity provider of last resort without the fed and other central banks. There would have been a full-blown financial meltdown. Things had gotten that bad. Even in the safest areas of the market money market funds the trading of us treasury bonds. Then there is an interconnectedness in markets from the riskiest to the safest. That isn't an appreciated. I had an experience. This past week with interconnectedness. It was kind of a bizarre experience and my fault. The prone i had a drive to whitewater draw north douglas arizona in agua prieta mexico. We were there to see the sandhill cranes we decided to take a socratous route on the way back through sierra vista and as i drove through sierra vista i didn't notice that the state route we on turned right i went straight right up to the gate of four. What chuka active. Us army base. I told the guy that gate that we were traveling to tucson passing through. He said we would need a permit to enter the base. I thought i clarified. In order to get the tucson. I needed to go through the base. And he said if you don't go through the base you're going to have to go all the way around and by all the way around. I assume he meant all the way around route. One ninety one. Like we'd come from whitewater draw. I said well. How do i get a permit. And he says you you can get that in this building. And he pointed to it so he drove around went to the building. We started filling out this extensive form. We had to go be processed one at the time so i went up to the counter. I told him you're trying to get to tucson. Needed a permit to get onto the base. He asked why so we were just passing through and it says we don't just pass through military bases. You're going to the west gate. Any changed my form to say. We're going to the west gate but he did an entire background check on me. Took my picture gave me an id and as part of that asks will be coming back and kid all the trouble to actually get a permit to pass through the base in order to get the tucson. That's make this permit as long as possible. We both got our permits. We drove into the base started driving around and trying to find the west gate to get out until we get the tucson. We couldn't find it. We kept driving in circles and again we finally pulled up our map on our phones and on the gps and it kept directing us out of the base through the gate that we came in. Like you said. I missed the turn. We didn't even need to be on the base in this situation. Everybody was just doing their job. I was trying to get home. The guy at the gate was trying to process people. The guy in the building was giving out permits lane in their silo. Everybody hearing but not listening. And not recognizing the interconnectedness that led to an unwanted outcome. I didn't need a permit to get onto the base. I was just trying to get home. And there was a miscommunication. The financial markets are similar participants act in their own self interest. They stay in their lane and often don't realize how financial markets are connected actions by some investors impact actions by others when participants act in a similar way that causes systemic risk. That can lead to financial meltdowns
Jigar Shah Explains His New Role as Director of the US Energy Loan Programs Office
"Let's just start with the news. I mean what are you going into government to do. What is the loan programs office. Functionally help us wrap our heads around. What your role will be well. We've talked a long time about the role of the private sector and how much the private sector can do to ramp up these solutions But i think we've also acknowledged that the federal government has to have a large and important role in order to really get to what we all say. We wanna do right. Which right now is to reduce carbon emissions by fifteen percent per year right to reduce carbon emissions by fifty percent by twenty thirty and so the loan programs office does a small piece of that right. I mean the federal government is large and has many programs but the loan programs office basically is this bridge to bankability. I think it's most famous for Clearly the tessalone but the other thing. I think it's most famous for is providing. Many many loan guarantees for wind and solar projects in two thousand nine twenty ten when frankly wall street banks did not believe that. Wind and solar utilities projects were bankable. I mean they were so skeptical of wind and solar projects. Being bankable if you remember sunpower and first even with the loan program office guarantees had to sell their projects At a much lower price than they thought they could get to warren buffett in twenty thirteen because he was the only one that was buying and he made you know twenty plus percent returns on those projects. David crane bought one number at energy. It wasn't until probably twenty fourteen that you started to see the that bridge to bankability actually get completed and solar and wind projects being fully embraced by private-sector capital and so my sense is that we need to build you know a hundred more of those bridges for technologies that many of us actually already thinker mature. But you know aren't being treated that
Quantum technology and implications for security in todays computer infrastructure
"Welcome to the cybersecurity weekly podcast. I'm jay lewis podcasting from singapore today joining us today. We have a very special guests from switzerland who is based in zurich. And he's a doctor khumalo. Got the donnie. Who is the security researcher. We've could ask security so thank you very much for joining us today jane. I'm very happy to be here with you today. To be honest to it's quite difficult. Also for ricardian super announced. So don't worry about that. So so the first question. I think many of our listeners will be quite keen to know is is quantum computing a high. Because when you read the news and media nowadays we see a lot of investments that have been announced by governments for example the us national science foundation and the department of energy announced. I think with more than one billion over. The next five years in quantum information systems and russia and germany also not far behind announced close to seven to eight hundred million investment china as well spending time billion on the effort. In the private sector's google and ibm are also spending in excess of one hundred million and even bangs like j. p. Morgan is also looking at developing quantum lonzo banking but on data hen. Also some in saying that quantum states are not reliable stable or quite understood well enough to replace the traditional classical computers and some believe that they will never be able to do so. So my question to you is is quantum computing a hype well All these people you mentioned are very smart so if they spend all this money it must be true right now. Kidding apart we have seen tremendous tremendous advancements in this technology in the in the latest ears. So just put it into perspective. So people started discussing about quantum computing. Already more than fifty years ago but it became interesting. I would say nineteen ninety-four with the discovery your applications for cyber security now. At the beginning people were thinking. Okay this is something very interesting from a theoretical point of view. It will never be real. You know it's it's kind of Would be something like Science fiction like however then after that we have seen continues continues progress on the on the research and development and we especially in the last few years we have weakness a situation from you know we can be really controlled. One beat of quantum information to prototypes. That are actually working. So they are still prototype so they are still not powerful enough to tackle Real world problems. But i wouldn't call it to hype this point so from my personal point of view. The trend is quite clear. So you mentioned the difficulties. In controlling information and the related technology so from from a theoretical perspective the technologies well-understood now. There is engineering challenges into building. Something that is working but this is the case we any brand new technology. I mean justice I transistors. They were big bulky. They were barring city You remember the famous quotes like sixty four. Kilobytes of memory should be enough for an anyone. That's right so like every new technology. There is challenges. So what i see is that from a technological point of view the the tuition is progressing much more rapidly than many expected to ten years ago. Now the question. Everybody's asking his okay. But when are we going to have computers. That are not prototypes anymore. That are something that can solve real world problems My impression is that we are very close to the point but there is a difference in what you consider useful because a lot of people say like okay when we'll quantum computers break cryptography. Well i i think that's not a good measure of progress for quantum computer because quantum computers can do much more than that.
Why Gaming Is A Creative Brands Paradise With Gravity Road Founder Mark Boyd
"Weeks ago to announce a new marketing practice and I enjoyed the conversation so much that I had to have them on the show dead. So Mark, I think the first question when it comes to the new practice, why was now the perfect time getting food poisoning the perfect time I think are always about time is I think we were feeling there was just such a momentum coming from clients is is is is one off a bit. So I think we could see the kind of client-side demand. I think you know 2020 was uh, I think a particular with a kind of extraordinary conditions in that year and people being at home just saw our kind of a sort of Tipping Point in a game that Assumption of of of gaming we might have play time that people were kind of evolved in so I thought I think that was kind of important but I think fundamentals Like we just saw a shift from gaming becoming being a subculture into culture itself more generally. I'm fascinated by the amount of whether it's kind of cross over into the aesthetic of gaming coming into fashion and similarly into sports. You might have talent pool areas investing in the gaming space. It really kind of crossed over and I think particularly young adult culture but culture more generally is so confused by informed by Gaming at that moment. It was the right thing for a kind of culture energetic creative business to to to be in and and you know final trigger points, where were some wins on home in the in the gaming space particularly develop a Brands. We just wanted to wanted to get involved. I also think as you can see that kind of tip report and the market maturing wage I'll point of view always with marketing is is is it's not an overly complex proposition. It's the clues off the talk to us but markets and that's about understanding people and although gaming is new and exciting and we're bringing we brought in at some really interesting people and team work on that, etc. Etc. The the fundamentals are still the same and what we were getting pushed on by both clients outside gaming wanted to get approved in in that kind of space. Some of this is bigger us Brands and international Brands but also by businesses and the gaming space is they wanted to see some of that kind of best practice and the kind of disciplines of marketing and communication brought to to gaming and that it's not a it's not a kind of dark heart wage. And you know feedback we were getting was there was a bit of there's a bit of smoke and mirrors around this and you know, uh, some of the fundamentals marketing, you know are just as relevant there so long, you know, all of those things coming together, you know, just you know made it's made us very excited about it. Absolutely. You mentioned the convergence of cultures with gaming and it's truly remarkable. When you think about what really are the pillars of culture and entertainment you have the music world. You have the film and T world you have passion you have sport you have all these different things and their Myriad of examples for every single one of those and what they've done in gaming over the last year Travis Scott in fortnite marshmallow in fortnite Avengers in fortnite from the film and T World Terminator. I believed. Yeah, it's all Epic Games in fortnite. But then you also have Louis Vuitton in League of Legend who have take your pictures. For sports athletes playing video games. I just saw NFL player trying to figure out who the best war zone player is and War Zone people lining up to play with him and the amount of money it all seems to run through gaming and it feels like that only started happening, maybe three or four or five years ago, you know soundtracks were always a huge part of video game. So that was the thing and there were some brand jeans here and their surrounding the gaming world, but it feels like a light switch went off. Is that your feeling about it to what was a a moment where you started to see? Okay, the floodgates opening and Brands and everybody else is figuring out a gaming strategy. Yeah. It's interesting. You you you mentioned some of those consumer Brands and and you know musicians and and the fortnite work is on Sabine sort of predicted chemical and and as good everybody excited better. I I think it's particularly interesting when you see dead. Brands like Louis Vuitton and lvmh getting involved. You'll seeing financial services and change Banks and and and and and the automobile category when they're moving there at scale. It's clear some things going going on. But this crossover has been happening while you know, you look at you know senior Netflix execs joining riots and things that it's not just these are not this convergence is is is is more than skin-deep. This is a significant shift and I think it was kind of important to realize his it's not just about people commenting coming to gaming I think my boss the aesthetic of gaming the visual look and feel and sounds and and the user interface all that kind of the ux all that kind of stuff comes to is coming to The Forum off. Culture more generally and I think that's what's that's what's kind of interesting. So, is there a Tipping Point? I mean, I think we'll kind of reflect the conditions of twenty twenty years with everything else just drove a kind of digital acceleration and I think it I think you know twenty or Twenty will be a kind of significance just move in terms of the muck need Services Industries appreciation of gaming and maybe somebody joke to me the other day that it was actually quite often people in marketing Services back in at home and seen their young or too seen that teenage a children playing gaming but I think actually I think with that that actually those statements actually frustrating cuz the lies of sorts of prejudice about gaming and that is just teenagers that do it and I think that's also the marketing industry's kind of wake up and realization you dead. You have a streamer is is is is 34 just now, you know, lots of people have got into gaming when their teenage teenagers but but
"us bank" Discussed on Techmeme Ride Home
"That alibaba founder. Jack ma has not been seen in a public setting since that late. October forum in shanghai where he was critical of china's regulatory system and thus knocked over a series of dominoes that led to the cancelling of the ant. Ipo and a crackdown on alibaba as well quoting zero hedge about fourteen months ago during an interview with real vision investor kyle bass who has been one of the most prominent american critics of the chinese communist party while also anticipating the political troubles in hong kong that inspired the protest movement of two thousand nineteen predicted that retiring alibaba chairman. Jack ma would be quote disappeared by beijing within a year. The gist of his argument was that ma had outlived his usefulness in that beijing would never tolerate a billionaire with so much power and influence both at home and in the west as it turns out bass was off by about one month because following some rumblings published by the financial times on new year's eve at appears that the western press has just woken up to the fact that nobody has seen jack ma in two months late last night in new york. Yahu finance reported that jack ma is officially missing. The financial times reported a few days ago. That might have been abruptly replaced by alibaba executive for the taping of the finale of his show africa's business heroes and quote so twitter has been rife with speculation that has been imprisoned or worse. Which is why. I went with a nontraditional to quote from just to give you a flavor of the speculation that has been out there however. I think it's probably more likely what david faber reported on. Cnbc this morning that my is simply quote lying low for the time being. He is being less visible purposefully. And you can expect that will continue to be the case for some time he ran afoul of the as jim just said the government the pr see and like a lot of people there. He understands when you have to sort of as it was explained to me. Lay down a rollover and kind of you know. Just say no. I'm not going to hear from me. And so that is. The case is not going to show up to things. Yeah he not gonna put himself in a position where he's going to be speaking. Yeah he's not gonna do. That could be months but it doesn't mean that he's missing. He may be not showing up but he's not missing. He hasn't been captured. He hasn't been taken. This is not a chairman goose situation. Of.
"us bank" Discussed on Techmeme Ride Home
"Passing up breaker. Whose team will join twitter to help it. Build out twitter spaces that clubhouse competitor of twitter's. I should probably qualify that by saying twitter has basically akwa hired the breaker team the well-known eric. Berlin leah culver and emma london. Coding tech crunch on fifteenth twenty. Twenty breaker will shut down for good up. Until that point breaker users will be able to export their opium file to transfer their subscriptions to another podcast. App breaker recommends. Apps like apple. Spotify stitcher overcast podcasts. Or castro as an alternative for those hosting a podcast on breaker. These can be transferred elsewhere via the feed. The breaker acquisition adds to a string of recent. Podcast emanate activity but unlike recent deals that involved podcast content. Breakers sale is made up of staff and technology. Not podcasts themselves. This maps to twitter's general focus on collecting content from others instead of making its own and quote. So if you're listening to me on breaker right now. Which according to my several logs only about two hundred and forty of you are. You're going to need to find a new podcast app now. I guess microsoft really is serious about throwing a new coat of paint on everything this year back at the verge today tom. Warren is reporting on a leak that shows microsoft is working on one outlook a unifying version of its outlook app. That will merge existing mail and calendar apps for desktops but while the work is going on right now this year. Apparently the release goal is next year. Two thousand twenty two quotes code-named monarch and one outlook. The app is quote a new version of outlook designed for large screen experiences according to a leaked version of the app while the leaked app isn't functional without a full internal microsoft account. The one outlook will replace desktop win. Thirty two and you. Wpa versions of outlook outlook web access. And the mac os desktop client. Microsoft is also hosting the web version of this new outlook. Online microsoft is building a single desktop. Client will be based on the web version of outlook. The leaked is clearly an early state and microsoft even warns employees that it's currently designed for brave dogs voters and doesn't include an offline mode doc. Food of course is a term used by microsoft and other software companies to test and use early versions of their own code and quote. Not sure what to make of this one but remember when amazon. Berkshire hathaway.
"us bank" Discussed on Techmeme Ride Home
"Looks like haven couldn't solve healthcare. Why haven't we seen jack ma in public going on two months now and singapore says psych on that whole not using koba tracking data to keep track of citizens. Here's what you missed today. In the world of tech one thing we missed talking about over. The holiday break was that bitcoin has soared above the thirty thousand dollar mark for the first time currently sitting at thirty two thousand dollars a coin as i type this and look it continues to be an exciting time. For crypto other coins have been rallying lately and now the u s office of the comptroller of the currency or occ has announced that banks and savings associations can now run crypt nodes and use associated stable coins for when it calls permissible payment activities. Goading the block. This means banks can use public blockchain's to validate store record and settle. Payment transactions as long as they're compliant with existing laws it also specifically mentions the use of stable coins for transactions saying blockchain networks can mitigate costs for cross-border transactions as a quote cheaper faster and more efficient means of payment for that reason. It's empowering banks to utilize blockchain's and they're stable coins for converting to and from fiat during remittances and even issue stable coins if they so choose acting comptroller of the currency and former coin base head of legal. Brian brooks said the letter is in response to a recent statement on stable coins. Issued by the president's working group on financial markets that report said regulators may consider limitations on multi-currency stable coins and highlighted possible risks of one. To one tokens are letter. Removes any legal uncertainty about the authority of banks to connect to blockchain's as validate nodes and thereby transact stable coin payments on behalf of customers who are increasingly demanding the speed efficiency interoperability and low cost associated with these products. Said brooks in a statement and quote crypto. Folks seemed to be pretty jazzed. About all this saying that this could end up heralding the beginning of the end of the traditional financial system as we know it as the great michael arrington tweeted quote. I thought this was years away at best. This is a b. f. d. and quote and as ross galloway tweeted quote. So how much of the recent price action is from. This news leaking out too. Well connected people interesting to see major bullish news coming out right after a huge rally and quote though. I thought i might note stable coins as a settling mechanism for bank. Transactions wasn't that what x. r. p. wanted to do twitter has.
"us bank" Discussed on Artificial Intelligence in Industry
"You're listening to the i. Business podcast what of my favorite parts of my work here at emerge. I like working with clients. I like guiding strategy. I like working hand in hand with big enterprises doing exciting things but also like talking to sparkling lee brilliant intellects who could also talk about business and frame things in the value of a business person that is our listeners. After all our listeners are looking to make change that hits the bottom line. This is not for developers. Ai in business for people that lead companies or lead departments and a ton of sri luke. Our guest this week certainly fits that bill. She's the head of ai. Us bank she was previously head of predictive ai and machine learning for capital one and before that she was a technical lead for darpa and their defense network program very very sharp person technically but also can communicate the points and communicate the use cases in business language. We speak this week about internal conversational agents so not just chat for our customers but chat for our own employees when your company as large as us bank with tens of thousands of employees sprinkled across the country. It's important to be able to streamline the way that people get access to hr information or other kinds of information that they might need from internal systems and conversational agents may be able to fit that bill tana she talks about some of the efforts underway at us bank and where she thinks. They're going to go in the future. So while most of our conversation interviews have talked about interacting with customers. This time we're talking about as user so little bit of a different look certainly a qualified person for the topic and again tana goes into a lot of great detail that i certainly appreciated for this episode if you want to go deeper with..
"The name loath burri is believed to derive from the word burr or enclosed area belonging to low this or flow. This people was a family name that dates back to the seventeenth century. There is also evidence of a roman settlements at lowe's as remnants of deepest ten feeds found the streets more recently the iconic building at forty one life bray became an important piece city banking history. The story of fourteen loath prayed began in eighteen. Thirty three. when william roberts keith. Douglas gathered a group of business. Shit together. it consider founded joint stock bank in london. This entity evolved to become the national westminster not west by and the building became its head office. Eight hundred two nine thousand nine hundred.
"us bank" Discussed on The Voicebot Podcast
"From the Alexa. Environment, more broadly I think trends of speakers is just the overarching voice adoption opportunity. In leveraging from. Garcia data as well that while still roughly in its infancy on the financial services space the the willingness to actually engage in bank via voice that was probably the primary input in terms of how we thought about Smart Assistant. Kind of what he thought about your objectives for the new assistant what was the primary outcome you're opening to deliver? Our biggest piece. And it's really hard for a primary component One of the biggest things that we're looking for is to offer additional convenience to our customers in inconvenience can be defined as A. Couple of different ways. So one can be as just the ability to complete transactions. In a single sentence, right? which to me is just an amazing experience in our customers in employees. have been allowed with that experience. So I think the convenience of being able to do that in a snap. Is One great thing. The other component around could Venus has the ability to find things that they're really looking for to complete within that in the mobile APP. In. So a big of it is that that level of engagement of round convenience. In completion rates of kind of all the do it yourself features. That we have within the mobile APP, we want to allow our customers to self serve as much as possible in. So that was primary objective with the implementation of the mobile APP is all the smart system within the mobile APP as well. Yeah. Absolutely, and I remember. Your colleague. Ed bought I think is his name had spoken with Eric Schwartz from Voice Bhatt and he mentioned that you have over three hundred features in the mobile. APP. Said about right. Correct. So like what percentage of those features were actually being used at a regular basis? That's That's a difficult question that obviously. A majority of features You kinda typically have the the eighty twenty rule. In so there are a number features that may not necessarily get leveraged on on a regular basis but customers expected. In. So As we look at the smartest roadmap by listening to our customers to determine what capabilities we enable directly within the smartest system. In which of those that will end of navigate the customer too. So that's kind of our primary focus is to really deliver the value their customers expect assistant. In one to accomplish via voice taxed. So I think about like a lot of software packages, a lot of mobile apps where users actually just use a very small percentage of the features just because they're not aware of it. When you talk about having three hundred features in a mobile APP, quite a lot I mean this is one of the primary motivators we see time and time again for companies that do engage with. Their customers through Mobile APPs is that you can only show me so much things on the front page a couple maybe a couple of buttons maybe tray at the bottom. Then you go right into menu structure, and if you're going to get into dozens or hundreds of features, it winds up being very hard for people to even be aware that they can do certain things on there, and that's where the assistance get them right to the answer that they need or the feature they need when they need it. Exactly and I think it can even challenging even through A. Desktop. Browser experience than you think about it on the. On the under smartphone, it can be even more challenging in. So absolutely. From visions damn point right I would love to eliminate the the the. Hamburger menu that you have across apps in how can we just a give information that the customer really wants to consume on their terms and then allow them to ask for exactly what they want to accomplish to be that would be kind of a nirvana type experience. Are you saying we're going to get rid of? My My desire now, you've queried some people to say, Hey, what would you love out of Your Voice Assistant? I would love within the financial services space of like how do we rethink the the nineteen ninety-five information architecture that was basically pulled from a a bank statement and how can we rethink the experience that does take more of a conversational approach? So that's my vision I can attribute that necessarily to to US bank but. I certainly think that financial services as a whole but within US bank we're trying to find Ways in which our customers want interact with us. Give them the information that they want to really help them make better financial decisions in oftentimes the the best way is asking. Like asking them to doing a prompt, for example, asking via prompt. The offering some degree of predictability. But just allowing them to request exactly what they're looking for what they need or want. In that moment of truth. In. So rather than having to search in trying to, as we talked about earlier to to navigate based upon the banks taxonomy and we just enable customers to ask for exactly what they want and I was delivered. Fair off. Okay. So When you you decided to move forward with this, you're you're already working on this this chat Bot and thinking about how you're going to implement for voice. You had these objectives around helping people to be higher serve A. Self Service improving convenience I presume you're probably thinking about loyalty in those types of things. But what I was, I was looking at your your IOS APP and look at your android APP here but you're you're already had a four point eight rating on your mobile APP.
"us bank" Discussed on Artificial Intelligence in Industry
"This is Daniel. Fa Jalen. You're listening today. I am business podcast. It's no surprise any of you who've been longtime listeners to hear that banking and financial services space is a large percentage of our work with enterprise clients when it comes to help building a strategies picking high. Roi Initiatives and selecting vendors, those of you who are emerge plus members know that we have a massive library. The use cases across all different banking functions that were constantly tracking updating the time. We like to get those updates from the vendor companies that are building these cutting edge solutions, but we also like to talk to banking leaders people that are awful hard to get A. A hold up in the past. We've had sea-level leaders from Citibank. We've had the former head of AI AT HSBC largest banks in the world and today we're lucky enough to speak with the head of AI at US bank. US Bank is a twenty six billion dollar financial services in St based here in the United States, not surprisingly ton.
"us bank" Discussed on FinTech Insider
"From Eleven I, this is Fintech. News this week we bring you. US Bank results are in and traders that significantly fettered the non-trade. Marquette is up in IPO as so-fi apply for charter and weekly Wacky wildcard round. A great segment name welcome to episode four forty five. Syntech insider I'm Sam all today. I'm joined by my colleague and Co host. Jason Bates desperately Jason. How are you? Good see Sam on your little zoom image I can see you smiling happily from Florida. It is the it has been an amazingly longtime since we've been in the same room. So. This seriously needs to end. Because I need to go to London in. Need some real food. Everybody even doing well I'm very well. I'm. I'm in Florida, so we'll move on. As is normal. We're joined remotely zoomed by incredible guests today making her fintech insider debut, we have crystal who emanate reporter at Reuters welcome to the show crystal. How are you doing? Hi, I'm doing well. Thanks for having me really excited to make you my view today at a special time like this. Is Special Time Amen and also making a welcome return visit. We have nick. SANDOW fintech investor at octopus ventures. Nikita I'm very good. Sam thanks for having me back I absolutely love that name Octopus. Ventures. Cool name? Yeah, we have a giant octopus table in our lobby. Which people love to comment about? Okay after this is over police on me in an. Of. Jealous all right. We had a lot to cover so with that. Let's get started on our very first story. US Bank results are in in trading helps mass significant problems. This is the story from business insider. Overall banks took massive hits as consumer banking faltered, and they built up cushions against those bad loans, but those trading platforms beat earnings expectations those without them. Did Not City see well set aside collectively, almost twenty eight billion..
"us bank" Discussed on FinTech Insider
"But still I mean you know it's it's It's pretty tight times in terms of how cash can make money for you right now so. I think it's interesting with Marcus. I mean I have a little bit of a sore spot for them because American living in the UK. They wouldn't take me on either side ponds. Because I was looking to sign up with them when they launched over here but I mean I think I think you will see demand for something like this as rates. Go down across the board anything that is above that one percent. Now I think looks pretty appealing ends. You know a lot of people right now aren't GonNa want their money for a year but there are people that will end. They've got a good user base over here the marketing that they did not just in terms of advertising but I would call the rates that they offer it the introductory rates even something like this. I'd classify that as marketing. They're kind of buying customers with higher rates. That are going to have to come down at some point so a to me. I don't think it's that much of a shift in strategy. They're really trying to be ahead of the curve. An offer have a more compelling offering than most of the competition and really build it around the Brandt. I wonder there Ania at with this. Though I mean given the timing of this I mean is this people trying to potentially have cashed out of Investments because of the you know the rapid demise of the Mall Kit and looking for somewhere just park that money for for a period of time. I mean he he really is. I mean where I put my My savings right. Now he's not particularly High up on my gender is as much as what do I get milk and bread from so you know I mean it's like it feels like a strange time to come out with a you know a savings rate. Let Offer Eric. Yeah I mean I think there's certainly going to be less of an audience for it than there was two months ago but I think it's still there and I think a company like Goldman Sachs isn't doing something like this unless they have the market data to back it up so they're clearly seeing something you know. We'll see how it lands. But I think that they they see an opportunity that they're trying to react to very true. I mean on these things it's always You know that there's probably a lot more small to people with Unfortunately Alison spreadsheets over in Goldman. Sachs he Have worked out. That will allow them to To figure out where that market goes but our guys at last story of the week this week. So this was one of the On a monthly nut they says does this. April fool's prank goes too far so on Wednesday April First. The money blog. Put up a projects page for a corona virus piggy-bank At then if you guys saw this but Like bizarrely a not a lot of people go that it was a joke so lots of people tried to buy switches probably saying quite a lot about the general public at this stage. I guess so listed full full fans nine thousand nine. The product supposedly used ultraviolet light to sanitize the cash that was being put into this This piggy bank so when Reid is clicked on the ball now button. They were taken to a separate page then. Expose the listing as an April fool's Money that was one of the few companies to do it. I propose content based gay earlier this month. Google announced it would forgo its annual pranks while CNN. A redesigned to avoid them as well A member of K pop band bt S. I have no idea with K pop. I think we're going very different audience at this stage. has has seen pushback for placing April fools. Crow Navarre's news. I mean. I did see one report that they had about hundred thousand people. Click on that to buy one of these things which is insane I mean. Did you guys see any April fools or was it Was a Lotta people sort of making better ideas and staying clear of the Michigan Alaska? Say I think in general I think people are starting to get sick of the Corporate April fools jokes anyway. This is not a great year to be putting them out. Unless it's really funny it would have been really funny on somehow not at all offensive. But it's still just very distracting. So yeah I mean I just think it's like it's also a little too soon the viruses hitting different cities at different times so depending on where you're sitting literally with city you're sitting in. This might be like okay. Don't even put that in a joke together but I think in general people are just like getting over these corporate April fools stiff corporate April fools jokes on to some degree so yeah I think it's like probably would have been better to just skip it definitely not I attacked Kovin but you know here we are. There's always gonNA be somebody who does it. Yeah I mean I think it's always good to try and retain some element of humor but but like I say from a corporate perspective. It's a bloody fine line to try and it's already hard for corporations to do this while every year there's always real cringe-worthy ones so. I mean the one that I did find funny. was One of my Wife's friends center a picture of what was portrayed to be Sky News. Sangle the kids. We're going back to school on Monday. which she she was very excited about to stop ways unfortunately found out it wasn't true. Sira But Yeah I think from a corporate perspective. It's probably wound to try and stay away from right now right. It's amazing. You still get one of these every year Just like why you know this year. I mean we need enough to go into the story. Just the question of does this April fools prank. Oh too far yes yes. It does like just stop. Don't touch it. Don't even try however I will say I clicked on the link and they said and who knows if this is true that they have sold out ten thousand units in twenty four hours and have had to go back to the factory to make more so. I don't know who knows how it's actually going to turn out for them. But I think bottom line is like the risk reward for April fools. Prank is is pretty extreme. If you're a company as opposed to an individual and I think in times like these it's just not smart. You GotTa have the right perspective on things. Well if anything they probably just got another customer and that said that's good in these times we superbowl small. Sme's at this stage but are guys. Well that's probably a we have for this week's show thank you so much for joining us. welcome people find out more about you guys Stop Alison..
"us bank" Discussed on FinTech Insider
"That's interesting about the finance sector's commitment because it doesn't it demonstrates obvious. Yes his commitment. How does this open the door for other such commitments from the banks? They don't WanNa be the bank. That's not getting involved in promoting female entrepreneurship this ship so this could just be the first. The first of many down that has to be though bright used three banks though now with Females was all BS Santander's pose a global level. DSP as well so again positive. Yeah positive change moving in the right direction and speaking kind of equality Our next story actually showing just spotlight on Goldman Sachs And they're pledged to deny PEOs. He owes two companies with non diverse boards so Goldman which is Wall Street's biggest. IPO underwriter will now not take a company public. If it's entire board is made up of white straight men the policy will apply in the US and Europe not in Asia yet and it will take effect in July so next next year Goldman will raise the threshold to divest directors So this category includes sexual orientation gender identity The move is coming response to the and US sixty. US AND EUROPEAN COMPANIES UNDERWENT IPO's without a woman or person of color on the board which just strikes me is is crazy so we just gonNa put it out there. I feel very cynical about this because saks is very famous for making a lot of money. That's that's kind of the core competency obsolete. So how many of those sixty IPO today underwrite. What is the economic cost of them taking this grunt stand and just start with been worked out to the to the sent but will it make people think when they're forming that board? I mean this like the challenge you have if you you trying to positively discriminate is you need somebody to help level the playing field so We're small company. You know you struggle to survive in small company We've policy in that graduate. Engineers were hired undergraduate engineering. This it's a female graduate engineer We we did that as well. And the design team at one stage. It's like But it's it's difficult to do it because right now. The market doesn't have candidates that a female. So you know we do we that at at a at a risk. We think it's the right reasons. We think overall with the right outcome. I'm but if this kind of change appreciate you know be cynical about but if it pushes people to reconsider kind of levels the competition everyone needs to take the same mindset and that's obviously a good move I agree with that An and we can be. We can be cynical. I think there's there's A. There's a quote from David Solomons the the Goldman. Co The quite light. He said we realized that this is a small step. But it's a step in the direction of saying you know we. You think this is right. We think it's the right advice. And we're in a position also because of our network to help our clients if they need help placing women on boards so at least there's that little bit of productivity in it as well as look if you come to us you've got an all male board or whatever your set from a governance perspective we're not GonNa turn you away but we'll uh-huh actively try and help it actively improve the situation. Yeah I think that he posed saying I think they've also had fair but bad press involved in the work valuation Asian process and famously all male board that one and they think they probably feel like watch leave maybe maybe that you say run the stats and run the numbers and they feel actually that they can make we stand now and I won't have not accepted the people on the board people and then you leave. You can fix this problem for conveyor belt people favorable to Goldman going on all these boards any positive of course. But it's just. I'm just not sure that it came from from okay so In the same way that is sort of good environmental social and corporate governance can an act as an indicator for sort of long term sustainability profitability. Actually can having a more diverse range of perspectives board level. Again can that longer term act as a source of competitive advantage. Yeah there's a lot that that seemed to demonstrate that and I think this is where some of this comes from an interesting. This isn't really new. I mean I was doing some research on this and from two thousand eight. I think Norway had pointed this is to say the company should have at least four hundred their board seats If they were listed to to be women and I think this is now something that this kind of trickling into to most I countries and we've seen this Goldman Sachs says making pl story of it. Actually it's it's almost like common sense I think is always tricky. And I think your point is valid about anything that seems Prescriptive or to be saying you know. This quota ways gets a bit of kind of like cynical reaction at times but sometimes it's the only way that you can move things forward and you have to put in place place and then it starts something that becomes more organic next time around. You're hiring and I it's always tricky to solve. Yeah an an actually. It raises another good point as the at the moment this is only targeted towards the US and Europe where actually that equality conversation is relatively well advanced and actually they're not tackling water some of the bigger Acre challenges in terms of Asia. I'm just reading the Bloomberg article now. Goldman Sachs acknowledged. The diversity versity has other meanings around the world including in Asia where racial dynamics of different gender disparities are sometimes even more glaring The company said in a statement Friday intends is to eventually expanded more diversity mandates beyond the US in Europe. So maybe at this stage. They're just going for that sort of lower hanging fruit. I also really enjoyed wait. I think the New York Post had aligned said odds packed with rose. Don't get for a while. What if someone came up with that against China right I'm GONNA move onto our unfortunately story And this is an interesting woman. I'm sure will Start plenty of debate. So New York City to ban cashless stories so the almost unanimously voted for the measure. It argues argued that cashless businesses discriminates against low income residents so stores and restaurants. That don't accept cash. Could now face fresh thyme fines of apply to one thousand dollars under the new law mayor. Bill de Blasio is expected to approve the ban. And if that happens New York would join New Jersey Philadelphia Philadelphia and San Francisco in banning cashless businesses. So this is an interesting one I think on the face of it for me. It looks like a a step backwards From a technological perspective but then you know the argument is built on inclusion or at least avoiding exclusion lesion. I guess it's hard to push back. Yeah I think it's one way you read it will kind of Fintech biases live in London and like love Fintech and then you start understand why this is a problem for so many people and kind of realize you back on this person like anti taxi and they don't care take a call at. I think it's the end the world I've gotta get cash out the actually. That's normal for lots of people to be paid in cash and two operating cash in that somehow the only way that sometimes you get by in some places and I think the This is obviously during attention to that matter They were obviously stores. That are saying you know. We don't accept this any more and suddenly that feels discriminatory to to launch wave to the population And the US kind of you know under banked on bank stats a quite high. So I think that Yeah it's it's almost more prominent And a New York especially as a place that amazingly does have a lot of people armband and and so. It's obviously something that suddenly had to be kind of someone's taken taken the decision And you know it's not always gonNA be resoundingly popular. There's always kind of a different side to this than the kind of fintech view. I think the the motivation patient behind it for some businesses to do this is the cost of cash. So if you look I suppose. The legacy of cache infrastructure As cache usage goes down mm says an economic costs goes up and banks will be passed in that straight onto the customer because there isn't an enormous amount of ways that you can innovate the distribution solution in manufacturing of cash maybe manufacturing but certainly not the distribution And I think that's the that's essentially. What the pressure is is that small businesses just can't afford food to carry cash and it's also dangerous? I didn't really think about until I was actually in New York and I saw a poster outside place and it was. It was a horrendous story. Way Yeah I think the owner had been mugged on their way to deposit cash and obviously people know this cash antill's into it there is. There's an element of it. Just being dangerous to have huge sums of cash And it's not you kind of think about when she's more fish. You can several people more quickly. Sometimes if it's by cards so it's a natural friction point that this it's GonNa be tricky one to ever on so it feels like it's a short term fix. It's a symptom ethics here which may be short term. The right thing to do. But it's just a medium you know wipe compete will be banked on on no. There's lots of reasons behind that but that that's what needs to be addressed. Really you know moving to Debbie out of credit I think that's the challenge that needs to be resolved and Russians Russians points really Really really telling that it's different in the US because in the UK feel like the digital banking system. Kim spread much much quickly much more quickly. I bought a Big issue on contact lists. Yeah exactly and you can pay buskers with contactless and donate contests in China will have contact lists. You know it's just it's it's the infrastructure not not really the fact that people Low Way reading into this story just made me feel like a really bad person. I started off having this kind of you know holier than thou kind of reaction that this is ridiculous. Did the dog and then I got to be about you. Know people don't actually have bank accounts so Eleven percent of the city's households don't have a bank account and twenty a two percent of the city's households are under banked. Those are big big base. You know we're not talking about like rural Missouri. We're talking about New New York City Yeah and I love that. Because there's you know Morgan work isn't as people are just so stalling out and their career there and this loser for reasons why they might not and I think we list the interesting part is that sometimes people choose to use cash. In Germany's interesting can refer there so there unlike a lot of your where they will miss cashless and actually they. They actually have a historical tradition of liking cash. And they are starting to change that. And it's becoming fifty cent but it's It's interesting because as long as I could trust thing thing and find some countries say you know I just prefer cash. I guess who are we to say like Fintech F. One easy is called On you know a lot of a lot of people particularly the lower end of that sort of that sort of income spectrum. I think a lot of people use it as a as a money management technique. You know you withdraw X. amount and then you spending the time periods and actually it's really easy to count out and You know I guess we can we say oh well hopefully fintech console these problems uh-huh reference and they'll be great PFM and budgeting tool snaps like that. Either it's a long way from everyone wanting to have that and There's still this big portion of society that needs to be remembered. I guess in this a story highlights and there's a lot of evidence that points the fat of physical cash. You miss a lot more when you give that over compared to tapping away five pounds is giving over five. Yeah Yeah it's a real talent absolutely. I think it's that we've sent the story on the the human aspect because I think when you when when when you actually look at it in terms of the the populations relations that are excluded. Here it is. You're more vulnerable people. It's low income people Russian undocumented immigrants People are less likely to have bank accounts. I guess it's important to keep that in mind. Seems like an opt point on which to end That wraps up this week's new. You show thank you so much to all of our guests guys. I'm going to go around.
"us bank" Discussed on FinTech Insider
"Their mobile approaches. That can be taken the best way to start taking advice of Mark Twain. The secret to getting ahead getting started cool so some really interesting I think starts metrics there from some sort of broadly agreed lead with his point. That sort of this. This clubbing together can enable some of those smaller players to innovate and and start to challenge college. Some of the big boys. It sounds like new Cova. They they kind of found a gap in the market. And there's obviously players out there saying you know we can innovate and we we can create you know really great cool banking inconsistence. But they've said right well. Let's make it very flexible and pricing affects contracts which means these community banks are. I guess less scared to take that plunge and I think that's that's Kinda unaware they've come in and the C O. I kind of like his his kind of transparency only says I saw a huge gap in this market technology. The most of the community banks are using is just atrocious. It's been teach Their view is that if they can they can create better efficiencies and cost reductions. Then actually the community banks can start doing some of the more high evaluator evaluator services that they really there for next to customers any serve so It's it's a pretty cool thing and I think it's it's almost a good news story. Ninety seven percent don't people sixteen percent of says I think that kind of shows you to you know this is about cost cost reduction in a lot of these community. Banks are on audio multi multi year or multi tenant of core banking platform. That was probably so to them in God knows what year That's an extortionate amount with money. And I know because I've spoken to some of the extortion amount of money for them to be paying to be able to service a very very small amount of customers. The other thing for these guys is actually because the community banks are so diverse and they serve the community that they ran. Only it means rational incomplete competition with one another So you get the opportunity to you know th the clubbing of this opportunity that that brings I actually think ours you want your story And hopefully goes well. I think if we you were talking about say neo banks or even you know legacy banks coming together for some. I mean the core is a funny word why people use that but anyway for some software service it would be a different story right. Because it's outsourcing where that's core to their business. They kind of giving up something that they don't need for these community banks will they do. is they have a direct relationship. I Shit with customers There there have a physical presence as close to the customers. That's what's important to to their customers. They need to innovate just to stay with times times. But it's not principally what they do I think in that case outsourcing makes sense Like I said I think if it was near bank or Alexi Bank. It's the wrong choice because you know so that you need that you need to own innovation its own narrowed that right yup absolutely okay. Great well I think from from one One positive news story to the next. This story comes from city. AM and concerned rb SEO. Alison rose to fund women. Women led businesses so allison is going to invest one billion pounds to create fifty thousand startups before twenty twenty three. The program aims to inspire five hundred thousand people to start businesses of whom at least sixty percent will be women so rose is the author of government backed review that found women and become entrepreneurs with fifty three percent less capital on average than their male counterparts. This funding is going to flow to these startups through. Do Not West. So this rose review the that allison led before becoming the bank's first female boss found that the single biggest barrier rear facing female entrepreneurs is lack of funding. So is it fair to say that. This new fund has the potential to solve real problems facing female entrepreneurs entrepreneurs in particular. Let's hope so. I think Alison Roses obviously done a great deal of good radio. Just putting this on the agenda making this a story that everyone's aware of so I think most banks now have signed up to investing women code which is a great thing And I think that that most people are aware now that there might be symbolizes in the VC community. And there's lots of stats now coming out about this and and kind of you know why we need to see Murphy founder's investment and I guess this is just taking you know really front eh approach and saying look we're going to deliver this money and we're going to put it in into kind of female entrepreneurs and an interestingly I think I think actually to the companies they have a female founders right so to the pinch-hitter dozen one founders is doing well in that state loon from my wife is a female found. We always go on the show. Email investment or the lack of really less than one percent in two thousand nine hundred ninety. KABC you know. Women versus versus men wishes obviously terrible and the US is slightly better to two points and they almost took still pretty disappointing. Yeah this is. This is a necessary change. I think when you take that billion which is very big number and split it into those fifty thousand different businesses thus what twenty thousand pounds each track the maths. Yes so I mean that's useful but the question is going to be okay so what comes next because a lot of businesses are going to get through that pretty quickly and need to follow on so it comes you know. Obviously we need this to be one ingredient in a big pot. Yeah and you hope that this stall of a movement and since the Most things take awhile to to change that dramatically bad stance so as we see Murphy Montana as we see stops grow and they become big success stories. You'd hope the answer is others and I guess that's the whole point of this kind of you know we know is stalling point and We'll get that but I think that's interesting stats for and about. I mean I think of you said two hundred fifty billion is potentially loss from the economy by the fact that lot women. Don't stop visit so if we can if we can wrote that then we're all in a better place hence why this is important stuff and it's a signal to other lenders right and they see an gives them the push to move if they if they doubting it. Yeah yeah absolutely. It drives the conversation forward right. I I mean you know to your point about this needs to be one small part of a much. Bigger thing will actually in in sort of driving the conversation forward. It's over the. I think it's already starting things things in motion. So we've got only a third of entrepreneurs today are women in the UK and that's that's pretty shocking. Yeah and there's lows of now research coming out about Y that might be and we know that the funding is a key part of that but a lot of it comes down to to you know again. They're not maybe have role models and I think there's some interesting off title golf recently asking kids you know. Who's an inspirational entrepreneur? You can think of an eighty five percent named male one and it's just a case of you know what they see out there. NPR which is why having having someone other rose up this important in it because mainstream news will change and it might be slow change but it will make slowly but surely some really could affect it really throws the spotlight on our BS on hers a Female Role Model Not just bank CEO role model. So absolutely it's very positive coming out with this industry. Yeah uneven having alison. You know. It's the first female. CEO off a long standing. Great British institution like Arby S and having a front and center again is is just. It's everything is changing those visuals rushing like you said well yeah and has had its fair amount of challenges and various bad bad. Pr Day so it's kind of actually. This is a really new. I guess new stage for them and I think that taking this and technical buckhorns and running with it and I think they're playing Hopefully this now has influenced wider impact. Couldn't agree more in an and the sort of the noise around this as you can imagine has been universally positive so simon come in clock Exchequer Secretary to the Treasury said this one billion pounds of funding is.
"us bank" Discussed on FT Banking Weekly
"Of why that is it's because hinged capital fails the definition of a debt instrument so it can't be tax deductible but that's not an issue about whether the regulators want stability or not outright taxes or contingent capital bonds that issued or call right down bonds rather than death to converse to equity so these things are junior to equity so if you can imagine if you want to give equity holders his incentive to take more risk give them something that they get the upside and somebody else gets the downside it's even worse than just debt and equity so if you think about incentives the actual Coco's the written or worse than nothing do you think about buffers they're better they're the best possible rates all the way down that's the biggest buffer if you think about equity incentives that's bad putting how much of a direct impact on their job but I think the idea is that it has an indirect impact on it's going to be such a big thing in the future that they really have to be able to understand us so is this something that other banks doing or likely to Laura what's the reaction be like other banks aren't doing this to the same degree city is doing it for people in the markets next week good bye.
"us bank" Discussed on WSJ What's News
"In banking global and british lawmakers upset boris johnson's brexit plan increasing the chances of the general election election the public less weaker but larger hurricane dorian florida. This is what's news from the wall street journal kim gittleson. Let's get started <music> now before we take a look at how u._s. Banks came to rule the global financial system a decade after they almost brought it down. Here's what you missed. Hurricane in dorian has weakened to a category two hurricane as it begins making its way north west. However forecasters warned that even though the storm has weakened. It's grown in size with hurricane. Hurricane-force winds extending sixty miles from its center in the bahamas prime minister hubert menace said the death toll from the storm had increased from five to seven people. Oh let me talk about. I initial assessment of arbuckle. Five deaths has already succumbed that would take that the number number of deaths to seven on again. I want to assure an informed beaming population. That'd be can john more debt to be recorded. Florida's governor ron descente said he was grateful. Florida was poised to dodge the worst. A hurricane in warning was issued for portions of the south carolina and north carolina coastlines and a man who went on a deadly mass shooting spree across west texas on saturday killing seven people and injuring twenty two others was barred under federal law from owning or buying firearms according to law enforcement officials court had previously veasley determined he was mentally unfit authorities said they were looking into whether the gunmen had bought the rifle and a private sale avoiding a background check federal law bars individuals joel's who've been found to be mentally unfit from purchasing or.
"us bank" Discussed on Accidental Tech Podcast
"Dash new delivery center is unavailable. It's like it isn't even a voicemail greeting. He's like the default voicemail greeting for their phone system. And no one ever picks up or returns calls. I have called this dealership. Probably fifteen times for this issue. Trying to talk to the same department zero returned calls zero times they've picked up the phone, even if I call I'll call like a different and like sales, you know, they're always going to pick up. And for some reason the people in the new vehicle department are never around. They're always on the phone or out on a test drive. And so they always take messages zero calls back in two months, whatever it's been it's cra-. Like, the dealership is useless. The company is useless. The national numbers are useless US Bank. At least gives me info. They're you know, they're they're barely involved here. But like they're so basically, I drive up the car in mid-september US Bank. Finally got the notification from tesla that the vehicle was turned in two months later in mid November. And the other day, I got my final Bill for US Bank. My final statement where they have build me for about eight thousand dollars because they are building before all the remaining payments as if I just turned me lease early and just just the car in and didn't didn't get approval for this or anything. So that's when I went to Twitter. I'm like, you know, what I'm done. I've been trying to do this the right way for two months or whatever. And I've been getting nowhere. I've been getting absolutely nowhere. Every time. I talked to somebody from tesla. If I ever do the not locally, of course. It's always national every time. It's like, oh, wow. I'm so sorry. I can't believe this happened. I'm going to get this fixed for you right away. Then I try to get it. And then nothing happens. Right. And every time, oh, we'll call you back in the next forty eight hours. We're in really get this fixed. We'll I'll I'll put this in today every time nothing the the way that company is being run. Even the guy who made the initial offer to me like who emailed me with the earliest nation offer, the people in the national headquarters couldn't find him for like two months. Oh neat. I just I finally got to talk to them like yesterday for the first time since this all started. He was just like they were like, oh he hasn't been to work in a while. That's weird. And like, okay. Can you help me like allows leave a message? Oh my God. I'm telling you, I at least a lot of cars now. And granted this was this was the first time. I've I've done something out of the regular routine for the lease where like the car company had to coordinate something extra with the Bank and the car company here can't be trusted to do anything. Like when I when I tweeted about this yesterday. I got so many responses from people saying very similar things that I in including a handful of people who also got the same early renewal offer in September did the same thing and had the same problem. And I haven't heard from anybody yet who said they got paid. So right now, tesla owes me over eight thousand dollars in payments that I've had to make to US Bank that I wasn't supposed to be they have to make you know, I'm paying US banks. I'm like, I'm not gonna I'm not gonna not pay a Bank that's going to mess up my credit. If I if I mess with that. So like, I'll pay the Bank, and then I'll get the money out of tesla somehow, but the fact is like this. Putting a severe damper on my appreciation for this company because I still love their car. I really love this car, but it's real hard for me to get past this when they are jerking me around for over eight thousand dollars because of their own incompetence doing very basic things. I honestly for frigging fire Eli musk. I am tired of the way he runs this company..
"us bank" Discussed on This Week In Google
"It's not about good was beta. They're trying to make it into scare words. The lead. Could it got rewritten like the the head, but it's it's irresponsible. Yeah. In fact, in fact, the rest of the article goes on to say, Facebook's, basically. And imagine, would you like this considering a feature where Facebook messenger would show your checking account balance? Maybe fraud alerts if you ask for it? Yeah, if you. Yeah. First of all, you have to say, I am a customer of. US Bank Corp, and I want this to be in my messenger or let me follow the chat bot now I don't know why face. We'll see. Information is look at all these things you can do on we chat. Isn't that what we should have that? Yeah, right. Do that and write data privacy is a sticking point in the banks. Conversations with Facebook said people familiar with the matter. The words banks are pushing back saying one large US Bank pulled away from the talks to to privacy concerns, which is a PR up. No journalists was just like, all right. You don't know if it's a PR question or Facebook's asking for more than it might need for this. I mean, understanding your customer data is that is that is your gold right now that all the companies think that that's their big thing. I don't necessarily group with all of it, but Facebook could be asking for more information than they wanna give or to be the point of control for this in the banks are like, yeah, you know what? If we give you this, we actually want a little bit more in return so you can be PR or negotiation. We know Facebook would ask for that. What I mean that I wouldn't they right of course. Of course, they may not marketing. Yeah, yeah, yeah. They're going to start the conversation starts with, hey, give us all this information and we'll give you this. And then the Bank says, that's our customers. You're jumping right over right there. This is that's that's what tech crunch gets better than the Wall Street Journal does is was the way the Wall Street Journal presents is gives us all his information in offer you something the way tech crunch presented says, no, I can go is a customer can ask for my.
"us bank" Discussed on FT Banking Weekly
"And bind was trade above book value my despite the flurry of news is still basie trading at water is walls before all this news so its tail trading in arraigned one point three times book valley which is closer to the us banks and the nordic buying and some of the other continental european currencies deutsche a and a lot of the problems e be as high as are essentially good problems to half i mean of looking at things like how can sustain the rate of growth in the private bank how can us make the investment bind work but i mean even conduct solve the investment bank yes a was hash and yes you look at its revenue from fixed income trading that would we dina 38 percent year on year however the investment bank now makes up a much smaller part all the ubs groups i think certain him you look at the overall continental european picture ups's dillon private has relatively speaking very good what you mentioned in passing the us banks ubs ups's may be closer to them than its european peers what's the focus of all third item today looking back really at those fourth quarter earnings from the us banks we've had the moral now what is your overall impression a lot of as you said ubs his trading activities were hate and not certainly was a story right across wall street's but it was a mixed picture in a lot of the banks actually outperforming some of the expectations despite those plunges in fixed income trading yeah i think we can do folk the not on fixing kim training it's a combating station up with our cells in the media north at unless but is only one part of the bank the while the fixed income train numbers were pretty dramatic they fear me if you look at like down goldman sachs in particular their fixing contrary memory with dan like 50 percent morgan stanley dan 45 percent and then 28 percent across the peace of the policy big big numbers ever it's only one part of the bank if you look at even and other partial.
"us bank" Discussed on FT Banking Weekly
"Welcome to banking weekly from the financial times with me patrick jenkins join me in the studio day is lower noonen our investment bangor correspondent and from davos we have martyn onaled out banking editor also as our guest this week we have andrey causton the chief executive of be who has been talking to mountain in davos this week we'll be discussing devils what this week's world economic forum will bring and particularly the warnings from andrey colston atbats increased conflict between russia and the west secondly we'll be taking a look at the reorganisation and other announcements from ubs alongside their full year earnings had also a catch up on the us banks fourth quarter earnings firstly though to davos where martyn is on the line you've been donning you'll maintain boots mountain trudging through the snow to bring us this dispatch doubles is this odd thing happens every year we're hearing though that the mood among the elite this year is upbeat we had the imf putting at particularly optimistic outlook on the world economy is that borne out by the people you've seen in you'll iao so there i think everyone who about the economic outlook globally very operative on the climate is good theme for quite a while even before the financial crisis however i think underlying people are warning of the risk not lee fought we over ubuntu market the fact that stock markets are reaching alltime highs wall it's from the fees record lows for bank for who committed this reminds me very much of the two thousand six environment on the crisis copy far away so you do have some naysayers but most people are pointing out fought yep things are as good as i can remember them having ever beam for the major economies with world.
"us bank" Discussed on FT Banking Weekly
"Timeframe but also to fill these subsidiaries with local stall for example as a result of the pressure some us banks a seeking to turn their london operations into a branch out so the eu subsiduary as a way to continue using some of their londonbased resources to serve that eu operation now the banks we believe that a looking at this as a potential plan for west case brexit sorry whereby there is no passporting include morgan stanley's city and bank of america merrill lynch in various guises okay just to clarify smick sure i understand this as well as other slows the status quo is essentially that most us banks let's focus in on the us banks because they're the biggest play here most us banks have uh the big subsidiary operations for europe based out of london and then they use these acl passporting rules along with branches located on the ground in the eu twenty seven to sell their services out of london through those branches an into that european market and what you're saying is that several of these banks and are looking at kind of flipping that having subsidiary operations in one of the other centers dublane all frankfurt or paris or whatever branching back into london exact just to emphasize that this is being considered as a temporary measure whereby the ultimate aim is to ensure that the subsidiaries do you have sufficient talented in terms of staffing an insufficient capsule so that they can continue to use existing resources in london and alleviate some of the pressure of trying to hire local talent in the new base be it frankfurt or paris for example let me bring david parker in from accenture now david you've been involved in planning for this and i just wonder what exactly does it achieve because as emma says it's a can of short term idea but if it's just flipping current arrangements on their head surely that's no absolutes.