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Articles related to "bank"


Holding cash is a sign of fear, and fear is the worst investment of all

  • If most Canadians expect long-term investment returns of five-per-cent-plus, and money market funds have not provided one per cent over the long term, the only reason to have long-term money in a money market fund or bank account is either fear or a true belief that you are able to add value through timing of getting in and out.
  • Balances dropped 35 per cent, or $23.5 billion moved from the safety of money market back into some form of longer-term investment.
  • I had mentioned earlier that the only reasons to move long-term investment money into an asset class that is guaranteed to underperform your long-term goals is either fear or a true belief that you are able to add value through timing of getting in and out.
  • The bottom line is that cash, money market, and GICs are not good for your long-term investment returns.

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From Finance to Telecom: Building a Data Science Career in Spain

  • Because of my technical background, I started working side by side with quants and delivering their projects to the risk area of the bank.
  • What was interviewing like for data science jobs in the UK and Spain?
  • Even if you’re interviewed by someone with responsibility within that organization who can assess your personality or how you like to work in groups and so on, you need to demonstrate to them that you are not only proficient in data science, but you can get problems solved.
  • Now I feel like I’m managing projects as I would have done in a big bank, but for the telecom company, from the technical side that I’m passionate about, which is data science.
  • It’s the technical curiosity of data similar to why people enjoy competing in competitions on Kaggle, but inside a company and tackling real problems.

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From Finance to Telecom: Building a Data Science Career in Spain

  • Because of my technical background, I started working side by side with quants and delivering their projects to the risk area of the bank.
  • What was interviewing like for data science jobs in the UK and Spain?
  • Even if you’re interviewed by someone with responsibility within that organization who can assess your personality or how you like to work in groups and so on, you need to demonstrate to them that you are not only proficient in data science, but you can get problems solved.
  • Now I feel like I’m managing projects as I would have done in a big bank, but for the telecom company, from the technical side that I’m passionate about, which is data science.
  • It’s the technical curiosity of data similar to why people enjoy competing in competitions on Kaggle, but inside a company and tackling real problems.

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Holding cash is a sign of fear, and fear is the worst investment of all

  • If most Canadians expect long-term investment returns of five-per-cent-plus, and money market funds have not provided one per cent over the long term, the only reason to have long-term money in a money market fund or bank account is either fear or a true belief that you are able to add value through timing of getting in and out.
  • Balances dropped 35 per cent, or $23.5 billion moved from the safety of money market back into some form of longer-term investment.
  • I had mentioned earlier that the only reasons to move long-term investment money into an asset class that is guaranteed to underperform your long-term goals is either fear or a true belief that you are able to add value through timing of getting in and out.
  • The bottom line is that cash, money market, and GICs are not good for your long-term investment returns.

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Westpac hit with $8m underpayment bill

  • Westpac will compensate about 8000 current and former employees dudded of a collective $8 million in long service leave entitlements, blaming a "system error" for the underpayment.
  • Australia's oldest bank on Friday announced it had detected a series of errors as part of a review of payroll and long service leave protocols which showed thousands of Westpac staff had been underpaid and overpaid leave entitlements, including interest.
  • The Westpac remediation follows a string of wage underpayment scandals by ASX-listed corporations this year, including in the banking sector.
  • In June, National Australia Bank revealed a payroll blunder resulting in employee losses first uncovered in December 2019 had blown out from $850,000 to $1.3 million.
  • The Shop Distributive and Allied Employees Association has described underpayment of wages and entitlements by companies as a "full blown epidemic", while organisations including Wesfarmers and PwC have toyed with a return to archaic "Bundy clock" monitoring and recording systems.

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QSuper quits financial advice sparking job losses

  • Sources said the fund had no plans to cull its workforce of licensed advisers, though the services they provide to new members are being restricted.
  • A review of the super fund's advice operations found the comprehensive financial planning services had been used by less than 1 per cent of its 585,000 members across the state, with many opting instead to use third-party advisers or the limited intra-fund and phone-based service.
  • Though it will restrict its advisers to superannuation-only advice – meaning they can no longer recommend third-party investment products – QSuper has slightly expanded the topics available to provide intra-fund advice on, including retirement income projections and establishing account-based pensions.
  • But while the pivot is being positioned as a response to lack of member demand, it also comes as large swaths of the financial services industry retreat from the heavily scrutinised business of providing financial advice to retail investors.

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Canada’s Big Five banks join Facebook advertising boycott

  • The top five banks in Canada have stopped advertising with Facebook, joining a global boycott in protest of the social media giant’s approach to hate speech on its platforms.
  • Royal Bank of Canada, TD Bank Group, Canadian Imperial Bank of Commerce, Bank of Montreal and Bank of Nova Scotia all said this week they will join the boycott of Facebook’s platforms for the month of July.
  • The five banks are now part of a growing list of hundreds of companies around the world backing away from Facebook, which includes Canadian companies such as Lululemon Athletica Inc. and Herschel Supply Company, as well as major global brands such as Coca-Cola Company, Ford Motor Company and Molson Coors Beverage Company.
  • Clegg noted that Facebook has seen intense criticism in recent weeks for not intervening when U.S. President Donald Trump posted “inflammatory rhetoric” on the site.

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Growth capital investor Kennet raises $250M fund, backed by Edmond de Rothschild

  • Thus it is that Kennet Partners, a leading European technology growth equity investor, has raised $250m (€223m) for its fifth fund, ‘Kennet V’, in partnership with Edmond de Rothschild Private Equity, the Private Equity division of the Edmond de Rothschild Group.
  • Kennet is perhaps best know for its involvement in companies such as Receipt Bank, Spatial Networks and its exist from Vlocity, IntelePeer, and MedeAnalytics.
  • It’s also invested in Eloomi, Codility, Nuxeo and Rimilia.
  • In raising this new fund, Kennet says it exceeded its target and secured new investors from across Europe and Asia.
  • The Kennet V fund has already started to deploy the capital into new investments in B2B, SaaS across the UK, Europe and the US.
  • Typically, Kennet invests in the first external funding that companies receive and is used to finance sales and marketing expansion, particularly internationally.

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A 911 call, a racial slur, a refusal to cash a check. This is what it's like for some Black bank customers

  • This month, Florida lawyer and businessman Benndrick Watson filed a lawsuit against Wells Fargo, accusing a bank manager of using a racial slur while he was trying to open an account.
  • Michigan resident Sauntore Thomas recently reached an agreement with a bank over a racial discrimination lawsuit he filed this year after a teller refused to deposit his checks.
  • In January, he'd gone to a TCF Bank branch in Livonia to open a savings account and deposit checks from a settlement in a racial discrimination case against his former employer.
  • A bank employee asked how he got the money, and called the police to report that he was attempting to deposit fraudulent checks, the lawsuit said.
  • Since Floyd's killing by a police officer in Minneapolis and demands for justice and corporate accountability, there are growing calls for banks to address racial profiling.

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Credit cards not dead yet, says Citi consumer boss

  • Buy now, pay later providers offer customers "a fantastic experience" and regulators have created structural problems for credit cards, says the boss of Citi's consumer bank – the fifth-largest credit card issuer in the country.
  • The Australian Securities and Investments Commission has raised concerns about the high cost of credit card and insists banks conduct stringent eligibility tests on new customers – while buy now, pay later operators like Afterpay are able to offer short-term credit outside obligations set down in the national credit act.
  • While the coronavirus crisis cut spending options for many customers, Mr Machet said Citi's data also shows customers are applying for credit cards at a later stage in life.
  • Mr Machet said these ratios are likely to be similar for the $8.1 billion mortgage book, where – like the big four banks – around 10 per cent of customers requested to halt repayments as the coronavirus struck.

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