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Banking

WireTap 0900 20/12/11

A round-up of the top stories from the specialist financial media, including news of the "great successor" to take over from Kim Jong-il in North Korea



Great Successor’ takes power in N Korea

The death of Kim Jong-il threw the Korean peninsula into fresh uncertainty on Monday as the North Korean regime named the dictator’s youngest son as the “Great Successor”, rattling financial markets in the south.

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China seeks stability after Kim Jong-il’s death

For the past year, Beijing sought a stable succession in Pyongyang 

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Banking reforms no excuse to cut lending - Cable

Radical government reforms to make banks safer should have no effect on their ability to lend to companies and entrepreneurs, Business Secretary Vince Cable said in an interview with Reuters. 

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Bankers join billionaires to debunk ‘imbecile’ attack on top 1%

Jamie Dimon, the highest-paid chief executive officer among the heads of the six biggest U.S. banks, turned a question at an investors’ conference in New York this month into an occasion to defend wealth. 

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S&P downgrade proves absurd as global investors make U.S. assets preferred

Four months after Standard & Poor’s stripped the U.S. of its AAA credit rating and said the world’s biggest economy was no longer the safest of borrowers, dollar- denominated financial assets are doing nothing but appreciating. 

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