Banks need to take on Amazon and Google or die

Some bankers and analysts think that Google, Facebook, Amazon or the like will not fully enter a highly regulated, low-margin business such as banking. I disagree. 

What is more, I think banks that are not prepared for such new competitors face certain death.

Technology has already transformed many industries. Next in line is banking. In two or three years, only 5 per cent of consumer interaction will be through branches.

The rules have changed and a new league of competitors is emerging.

Continue reading in the FT

Banks need to take on Amazon and Google or die

+Bob DeMarco

Google Downside Reversal? (Chart)

On Friday morning, I wrote Google Upside Blow Off. It appeared to me that Google was blowing off to the upside and that a short squeeze was taking place. Friday's close was also suspicious.

Action today could be signaling a downside reversal in Google. So far the low is in the critical 380 area. If 380 is breached it would signal additional downside in Google.

Short term investors should be extremely careful. Longer term investors need to be watching closely for a change in trend.

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Shareholders of Firstgroup will meet today to close a 1.8B pound takeover deal of what major U.S. services company?

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Shareholders of Firstgroup will meet today to close a 1.8B pound takeover deal of what major U.S. services company?

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