Group items tagged

Barclays, the U.K. banking behemoth, is challenging Barclays To Host Blockchains Hackathon developers to assist refurbish the worldwide derivatives market next month at a hackathon. Disclosed to the media this week, DerivHack will take place at Barclays' Rise accelerator spaces at the same time in New York and London on September 20 and 21, 2018. The ISDA (International Swaps and Derivatives Association), Thomson Reuters, and Deloitte are co-sponsoring the hackathon.

A University of Zurich study 'proves' that a small group of companies - mainly banks - wields huge power over the global economy. The study is the first to look at all 43,060 transnational corporations and the web of ownership between them - and created a 'map' of 1,318 companies at the heart of the global economy. The study found that 147 companies formed a 'super entity' within this, controlling 40 per cent of its  wealth. All own part or all of one another. Most are banks - the top 20 includes Barclays and Goldman Sachs. But the close connections mean that the network could be vulnerable to collapse