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A simple 5-step system to ace performance reviews

March 27, 2023 by www.fastcompany.com

My first-ever performance review was for a huge consulting firm. It felt like drinking water from a firehose: How could I condense everything I’d done and learned into a few paragraphs? I stayed up all night, hacking together a list. But when I was done, I realized I’d missed the mark. All I had created was a record of the activities I’d done. The “so what?” wasn’t there. It wasn’t an ideal way to kick off my career. So, I developed a system that helped me track and celebrate my milestones and prepare for my reviews—without subjecting myself to disgusting coffee and all-nighters. Here’s my system, and how you can adapt it for your performance reviews. Step 1: Identify your metrics A successful performance review connects your accomplishments to metrics that matter. So, how do you identify the most important metrics? Pull verbs from your job description When you boil down a job description down, the verbs are what matter. Those words—along with … [Read more...] about A simple 5-step system to ace performance reviews

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What’s happening at Deutsche Bank? Stock drops amid fears that banking crisis will get worse

March 24, 2023 by www.fastcompany.com

Shares in Deutsche Bank fell sharply Friday, dragging down other major European banks and leading German Chancellor Olaf Scholz to express confidence in the country’s largest lender after fears about the global financial system sent fresh shudders through the market. Deutsche Bank shares were down 8.8% in late-afternoon trading on the German stock exchange after falling as much as 14%. That followed a steep rise in the cost to insure bondholders against the bank defaulting on its debts, known as credit default swaps. Rising costs on insuring debt were also a prelude to Swiss lender Credit Suisse’s government-backed rescue by rival UBS. That hastily arranged takeover Sunday aimed to stem the upheaval in the global financial system after the collapse of two U.S. banks and jitters about Credit Suisse’s long-running troubles led its shares to tank and customers to pull out their money. Asked whether Deutsche Bank could be the next Credit Suisse, Scholz said, … [Read more...] about What’s happening at Deutsche Bank? Stock drops amid fears that banking crisis will get worse

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China spent $240B bailing out ‘Belt and Road’ countries, study shows

March 28, 2023 by business.inquirer.net

JOHANNESBURG  -China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building “Belt and Road” infrastructure, a study published on Tuesday showed. Almost 80 percent of the lending was made between 2016 and 2021, mainly to middle-income countries including Argentina, Mongolia and Pakistan, according to the report by researchers from the World Bank, Harvard Kennedy School, AidData and the Kiel Institute for the World Economy. China has lent hundreds of billions of dollars to build infrastructure in developing countries, but lending has tailed off since 2016 as many projects have failed to pay the expected financial dividends. “Beijing is ultimately trying to rescue its own banks. That’s why it has gotten into the risky business of international bailout lending,” said Carmen Reinhart, a former World Bank chief economist and one of the study’s authors. Chinese loans to … [Read more...] about China spent $240B bailing out ‘Belt and Road’ countries, study shows

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SVB’s New Owners, The Billionaire North Carolina Family Behind First Citizens, Are Quietly Building A Banking Empire

March 27, 2023 by www.forbes.com

Share to Twitter Share to Linkedin North Carolina’s First Citizens Bank doubled its size with the stroke of a pen in the early hours of Monday morning with its landmark FDIC-assisted acquisition of Silicon Valley Bank , and nobody will reap the rewards more than the family that has orchestrated its growth for the last century. Chairman and CEO Frank Holding Jr. and his four sisters Olivia Holding, Hope Bryant, Carson Brice and Claire Bristow collectively own about 20% of First Citizens’ stock and have close to 50% voting power in the company, according to SEC filings, for a cumulative stake worth $2.7 billion thanks to Monday’s 54% stock gain following the deal. The surge erased all of the stock’s year-to-date losses in the regional bank selloff stemming from SVB’s failure and contagion fears. Raleigh-based First Citizens and the Holding family have kept a low profile for decades, but the family-owned bank has been on a mission to expand nationwide via … [Read more...] about SVB’s New Owners, The Billionaire North Carolina Family Behind First Citizens, Are Quietly Building A Banking Empire

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