The other day, a business in New York mailed a dollar cheque to me across the Atlantic. It was a pretty thing – multicoloured, with an anti-fraud foil hologram – and I admired it for a while before putting it into another envelope and posting it back to a friend in New York to walk up the block and deposit. After a round trip of 7,000 miles, it reached my account three weeks late.

Andrew Hill

The FCA: not to blame for social media caution (Chris Ratcliffe/Bloomberg)

Some British banks have a long way to go with social media. At a conference on Wednesday morning, one institution admitted its tweets were vetted by no fewer than eight different departments before they were sent.

The financial sector’s attitude to social media regulation seems to be a mix of fear and loathing. On a show of hands, only a couple of delegates at the Social Media Leadership Forum, where I was a speaker, revealed they were not scared about using social media, even though most believe it is a great opportunity. In part, this is because companies are waiting for guidance from the Financial Conduct Authority, first promised for early 2014, that the FCA says is now due later this summer. Even after this extended wait, the proposals will be subject to consultation before they are finalised. Meanwhile, other sectors’ social media strategies are evolving at web-speed. Read more

While waiting in a big Manhattan hospital about 15 years ago, I glimpsed the chairman of one of the world’s biggest banks in a consulting room. I never found out why he was there. If he was ill, his employer never said and the man is now enjoying a long and apparently healthy retirement.

Andrew Hill

Pale, male and stale: what's next for the boardroom?

As boards gradually move towards better balance by gender, what is the next frontier?

Alan Mak, a 30-year-old non-executive director of Havas Worldwide (UK), thinks boards should make it a priority to take on more young directors. He and I have gone head-to-head on the issue in print and we took the debate onto Twitter on Thursday to test the mood. Read more

John Gapper

The problems erupting over Google’s implementation of the EU’s new “right to be forgotten” rule were predictable. And I say that because I, among many others, predicted them in May after the European Court of Justice delivered its ruling:

A line will soon form to knock out revealing photographs, bits of tawdry gossip, legal orders, past convictions and anything that anyone finds an embarrassment. Before long, people’s search results will start to resemble official biographies, recording only the facts that they want other people to know, and not the remainder of reality . . . Read more

There is an argument that the latest Facebook scandal is a lot of fuss about nothing. A week-long psychological experiment on 690,000 users in 2012 that did no damage and had a barely noticeable effect hardly registers on the scale of research abuses over the years.

Andrew Hill

What puzzles me about Sports Direct’s campaign to pay founder Mike Ashley a bonus – which finally succeeded on Wednesday, despite shareholder opposition – is that it focuses City attention on the weak spots in the sports retailer’s make-up: its governance and its dependence on Mr Ashley himself. Read more

John Gapper

Oliver Chris and Billie Piper in Great Britain. Photo: Johan Persson

Having written about the obsolescence of the Fleet Street tabloids in my column last week, I was intrigued to attend a dress rehearsal on Saturday of Great Britain, the new Richard Bean farce about phone hacking and corruption in the British establishment.

The play, which opened on Monday night at the National Theatre, has received mostly positive (with some negative) reviews but I found it disappointing, for reasons related to the column.

One difficulty was expressed by my wife, who leaned across halfway through the first half and whispered: “When is this set?” That was a good question, for it appeared to be taking place at various times in the past three decades. Read more

When I sat down with colleagues this year to review a “longlist” of applicants for the Financial Times’ editorial trainee scheme, we agreed on one thing: any of the 50 candidates left in the running would be a worthy recruit. Yet following months of due diligence by FT staff, including writing tests and, for some, interviews, 48 were bound to receive a rejection letter.

John Gapper

Given that financial crises are caused by herd-like behaviour by banks, it is hard to know whether to be encouraged or dismayed by the latest mass shift – away from investment banking and toward retail and commercial banking.

The Bank for International Settlements annual report, published today, finds that one-third of banks that entered the financial crisis in 2007 as wholesale-funded or trading institutions switched to retail banking by 2012 (19 out of the 54 in its sample). Read more

John Gapper

The global system for taxing multinational companies is broken, but no country wants to alter it too radically for fear of making it worse. That was my impression after hearing international tax experts gathered in Oxford this week to discuss reform.

Reform of corporate taxation has been thrust onto the political agenda in Europe and by controversy over the tax policies of companies such as Google and Starbucks. The ease with which they can shift intellectual property and royalty payments to low tax regimes has outraged politicians on both sides of the Atlantic.

The attempt by Pfizer to turn itself into a UK company for tax purposes by acquiring AstraZeneca has also drawn attention to the use of “tax inversion” by US companies. They want to use the cash piles held overseas to make acquisitions that allow them to change corporate nationality and reduce their taxes.

But while most countries agree that the system of global taxation in place since the 1920s is flawed, there was no consensus at the conference held by the Oxford University Centre for Business Taxation on how to fix it. Instead, most prefer to play defence. Read more

John Gapper

The New York attorney-general’s complaint against Barclays over the way it ran its dark pool seems to contain clear evidence of institutional investors being misled about the amount of “toxic liquidity” provided by high-frequency traders.

More broadly, however, it raises the question of how the original purpose of dark pools – to allow institutions to make block trades away from public markets where they would move the price – was subverted by investment banks. Read more

It was fitting that when Rebekah Brooks, the former editor of the News of the World, was overcome with emotion at the Old Bailey on Tuesday, having been acquitted of charges related to phone hacking, she was helped by the court matron. Only a tabloid case would feature a figure so reminiscent of old British institutions such as boarding schools and cottage hospitals.

Emma Jacobs

Luis Suarez, right, and Giorgio Chiellini after clashing during their World Cup match. Photo: Reuters

If you bit someone at work – as Uruguayan striker Luis Suárez appeared to on Tuesday night – would you get sacked? It seems likely. Read more

The Innovator’s Dilemma was published in 1997, so when The New Yorker last week printed a detailed dissection of disruptive innovation, the idea at the heart of Clayton Christensen’s book, my first reaction was: what took critics so long?