Financial Times FT.com

BlackBerry at the ready for turmoil at the beach

By David Oakley and Paul J Davies

Published: August 11 2007 03:00 | Last updated: August 11 2007 03:00

This week saw the first potential financial crisis fought by BlackBerry on the beaches of some of the world's most exotic locations, as the electronic handsets became the essential accessory to keep many top investment bankers in touch with the unfolding events that rocked the markets.

The decision by the European Central Bank to inject €94.8bn ($130bn, £64bn) of emergency funds into the money markets on Thursday, after several institutions admitted they had suffered significant losses on credit-related investments, prompted a slew of e-mails between bankers taking their traditional August breaks in the sun and their head offices in London and New York.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this