FURTHER FURTHER READING
- Matt Levine and Mike Konczal on the Volcker Rule.
- The most important economic stories of 2013 -- in 37 graphs.
- Martin Wolf: Asset managers could blow us all up.
- Timothy Taylor on homelessness.
- Four signs the US job market is getting better.
FT EVENING ROUND-UP
Volcker vote ushers in new world order for banks: "The largest US banks were facing a new world order on Tuesday as regulators voted through the Volcker rule, which will make it harder for Wall Street to make risky gambles that could once again endanger the financial system. The rule dramatically curbs the way banks do business, banning them from making bets using their own accounts in what is known as proprietary trading, and also holding their chief executives more accountable. But it gives regulators a lot of room for interpretation. " (Financial Times)
JPMorgan files patent for Bitcoin-style payment system: "JPMorgan Chase has filed a US patent application for a computerised payment system that resembles some aspects of Bitcoin, the controversial virtual currency. Like Bitcoin, JPMorgan's proposed system would allow people to make anonymous, electronic payments over the internet, without having to reveal their name or account numbers or pay a fee, according to the patent application. " (Financial Times)
Oil groups in rush for US crude export licences: "Oil companies are securing licences to export US crude at a frantic pace as the shale boom leads to swelling supplies along the Gulf of Mexico. The US government granted 103 licences to ship crude oil abroad in its latest fiscal year, up by more than half from the 66 approved in 2012 and the highest since at least 2006, according to data obtained by the Financial Times." (Financial Times)
GM names first female chief executive: "General Motors, once an archetypal bastion of middle-aged male executives, on Tuesday became the first of the big three US carmakers to appoint a female leader when it said Mary Barra would take over as chief executive next month. Ms Barra, who worked her way up through the GM engineering operation from the age of 18 to become global head of product development for the US's biggest automaker by sales, will take over from Dan Akerson, 65, chief executive since 2010." (Financial Times)
