Bajaj finance sector 5

When Silicon Valley Bank failed earlier this month , it sent a shot across the banking sector’s bow—and a message to investors and depositors that the financial sector may be taking on water. In response, alternative banks and financial technology companies are easing fears by increasing FDIC insurance for depositors. Mercury, a fintech company that offers banking services through its partners, Choice Financial Group and Evolve Bank & Trust, recently announced to its customers that it was offering depositors additional FDIC insurance, up to a maximum of $5 million, well above the traditional $250,000 limit. In an email, Mercury’s team said that the way the company was able to “offer customers this expanded FDIC coverage is through our partner banks’ sweep networks, which spread customer deposits across a network of established FDIC-insured program banks.” The list of banks includes Wells Fargo, Goldman Sachs, and Morgan Stanley. In effect, Mercury is giving … [Read more...] about After SVB’s collapse, banks and fintechs look to beef up FDIC insurance

Share to Twitter Share to Linkedin Spring is in the air–and so, apparently, are corporate layoffs. Companies including Microsoft Corp, Amazon, Meta, Pepsi, Boeing, Disney and Goldman Sachs Group have cut thousands of jobs. The information sector, which includes many tech workers, saw employment decline for the third straight month, by 25,000. Finance and insurance, which are affected by rising interest rates, saw a decline of 10,000 jobs to 6.7 million. Wall Street economists began 2023 anticipating a recession by midyear. If that happens, layoffs would almost certainly increase. I have some advice on important steps to take now, even before you get that dreaded layoff notice. Get organized– As soon as you suspect that a layoff is in the picture, start analyzing your finances, medical needs and job skills. That includes looking at your spending to see how you can cut back. If you don’t already follow a budget, you can get started with … [Read more...] about How You Can Financially Thrive And Survive A Layoff

Share to Twitter Share to Linkedin What happened with SVB, and what is happening with banks? On March 10, the Federal Deposit Insurance Corporation (FDIC) closed Silicon Valley Bank (SVB) and Signature Bank. You may have seen that investors are concerned about First Republic Bank, and that UBS has acquired Credit Suisse – a Swiss bank. The failures of SVB and Signature (and current concerns about banks generally) illustrate a fundamental banking problem – a mismatch of expectations between bank depositors and bankers. Depositors want to be sure that their money is safe (as safe as money in the bank!). They subconsciously think that their bank is holding their money for them, when in fact they have lent their money to their bank. Bankers earn profits by relending their customer’s deposits. However, bankers do not say to depositors, “we earn profits by lending (and taking risks with) your deposits.” They simply announce the interest rate that they … [Read more...] about SVB, The Banks, The Economy, And The Market

People shop to buy fruits and vegetables at a stall in Lewisham Market, south east London, Britain, March 9, 2023. REUTERS/Hannah McKay LONDON  – British inflation unexpectedly rose to 10.4 percent in February, pushed up by higher food and drink prices in pubs and restaurants, according to official data which is likely to prompt the Bank of England to raise interest rates on Thursday. Economists polled by Reuters had forecast that the annual consumer price inflation rate would drop to 9.9 percent in February from January’s 10.1 percent and move further away from October’s 41-year high of 11.1 percent. The figures – including increases in underlying inflation measures that the BoE closely monitors – are likely to bolster the concerns of those BoE policymakers who worry that inflation will be slow to fall, even after 10 straight rate hikes. Investors had been split on whether the central bank would pause that run after the recent upheaval in the global banking sector. But … [Read more...] about UK inflation surprise pressures Bank of England to raise rates again

Share to Twitter Share to Linkedin The manufacturer of the ride systems which power many of Disney's most beloved theme park attractions has been put up for sale after over-spending in a bid to build the world's most cutting-edge roller coaster. Unbeknownst to many guests, theme park giants like Disney and Universal Studios don't tend to build their own attractions. Instead they rely on specialist engineering firms to make rides to their specification or they buy off-the-shelf systems so that their designers can give them a magic touch. This trend dates back to the early days of the theme park industry when Walt Disney himself bought six ride mechanisms from California-based manufacturer Arrow Development so that they could be part of the opening day line-up for Disneyland in 1955. Arrow made rides for small-scale amusement parks but they were given a sparkle by Disney's design wizards who are known as Imagineers due to their expertise in imaginative … [Read more...] about Leading Disney Ride Manufacturer Puts Itself Up For Sale

Share to Twitter Share to Linkedin Growing up Sh'Kia Augustin turned to the arts to alleviate the boredom of living in the small town of Oakland, Florida. Her grandmother served as the youth director at the local church, hosting events like plays, praise dancing, and recitations of Easter orations for the local children to participate in, her Jamaican father worked as a D.J., and her mother worked at Walt Disney World. "My mom worked there for like 11 years, and she used to get Disney movies for free. We didn't have cable. All those things fascinated me, being born in that small town," Augustin fondly remembers. "I [watched] music videos on television, and the arts felt like such a bigger space outside of Oakland. So I tried to do anything in Oakland that I could do that was creative, and the only place I could do it was at church." As a teenager, her mother remarried and then moved to Leesburg, Florida. Augustin immersed herself in the high school band … [Read more...] about How ‘Kold X Windy’ Star Sh’Kia Augustin Is Creating Generational Wealth In Hollywood

Share to Twitter Share to Linkedin As we await the all-important decision today of the Federal Reserve on whether to raise interest rates by 25 points, or 50 points, or perhaps not at all, we know one thing for sure: we will hear the phrase “data-based decisions” a great many times. This is just as in ancient Roman times, when, before taking important actions, especially in battle, Romans conducted animal sacrifices to discover the will of the gods according to the information gathered through reading the animals' entrails. The entrails conveyed a large number of signs that were said to convey the gods' approval or disapproval. The actual decision was of course based on the will of the those in charge: the animal’s entrails were a convenient prop to get acceptance of the eventual decision. So also, in modern times, “data-based decision-making” may be used conceal the fact that the economic data is fundamentally ambiguous. In March 2023, the economy is … [Read more...] about The Truth About Data-Based Decision Making By The Fed

Share to Twitter Share to Linkedin In the wake of the recently released Economic Report of the President , addressing misconceptions about cryptocurrencies has become more critical than ever. The report presents a negative perspective on digital assets, highlighting illicit finance risks and potential threats to consumers and the financial system, suggesting a shift in the Biden administration's approach to the sector—from neutrality to a more adversarial stance. While recognizing the potential risks and challenges inherent in any emerging technology is essential for government, they must not overlook the myriad benefits and opportunities that cryptocurrencies offer in today's rapidly advancing digital landscape. Embracing the transformative power of emerging technologies paves the way for unprecedented progress and innovation. By recognizing the potential for positive change, we can foster a forward-thinking mindset that transcends barriers and encourages … [Read more...] about Redefining The Crypto Narrative To Secure Technology Innovation

Share to Twitter Share to Linkedin With a tightening economy, declining sales, lower valuations, and high-profile layoffs dominating the headlines, 2023 is shaping up to be a tough year for technology companies. One solution—particularly for B2B subscription businesses—is to double down on keeping their customers and the recurring revenue they generate, by investing more in the customer success (CS) teams whose role it is to keep and grow customer accounts. I spoke with You Mon Tsang, CEO and co-founder of customer success company ChurnZero , to explore why and how customer success can help companies weather the downturn, and position themselves for sustainable growth on the other side. Gary Drenik: What approaches are you seeing technology companies take to address the downturn? You Mon Tsang: Right now, we’re seeing two approaches. The first: cutting costs. The second: focusing on retention for resilient, sustainable growth. … [Read more...] about For Subscription Businesses, Customer Success Could Be The Essential Investment Of 2023.

Share to Twitter Share to Linkedin I have a radar for hype; when the Nothing range of products was launched with very clever marketing, my hype radar flashed red. However, it turned out that you can have hype surrounding a product without it being all style and no substance. Since Carl Pei and his colleagues launched the Nothing brand, the products have won awards and been well-received because they are well-made and cleverly designed. In the two years since Nothing launched, the brand has announced its Phone (1), which was listed as one of Time Magazine’s best inventions of 2022. Nothing’s two pairs of earbuds – Ear (1) and Ear (stick) – have sold over 1,000,000 units worldwide. No small feat for a company new to the sector. In December 2022, Nothing even opened its first retail space. The Nothing Store Soho is in London’s cultural hub and the entire brand has captured the imagination of younger consumers who are used to high-0quality products from Apple. … [Read more...] about Nothing Announces Its Second-Generation Ear (2) ANC True Wireless Earbuds