IFC, a member of the World Bank Group, agreed to provide a loan for up to US$450 million to Telecom Argentina, one of the leading telecommunications companies in the country that offers fixed and mobile high-speed connections and pay tv, through an integrated content platform, to boost the expansion of broadband coverage with a focus on underserved regions in Argentina. The financing package includes US$110 million from IFC, with the additional funding to be mobilised by IFC from international banks.
Fosun International has announced an agreement to acquire FFT GmbH & Co. KGaA, a global provider of automated and flexible turn-key production systems. FFT is to be acquired from ATON GmbH, a German family-owned private investment company, through the funds managed by the subsidiaries of Fosun International.
Finance Monthly had the privilege to speak with Karen Penney, Vice President of UK Payments Products at Western Union, to hear about what it’s like to be a senior woman in the finance industry. As a keen advocate for women in the workplace, Karen tells us about her own experiences and hurdles and offers advice on how women can make it to the top in the finance sector.
As we enter the third year of gender pay gap reporting many organisations are having to face up to the uncomfortable truth that gender bias in the workplace is still alive and kicking. None more so than the finance industry, which had the unenviable position of having the highest mean average pay gap of any sector for that last reporting period.
Financial management can comprise accounting, expense management, strategy, forecasting, and much, much more – and in a fast growing company, it can be easy to lose sight of it.
The recent headline-grabbing fines issued by the Financial Conduct Authority under MiFID I underscore the fact that the regulator means business when it comes to transaction reporting. UBS and Goldman Sachs were fined £27.6 million and £34 million respectively for misreporting their transactions in the years leading up to the new regime. These fines bring the total tally of fines handed out under MiFID I by the FCA to 14. While fines will dent the balance sheet, the real impact of a penalty is reputational damage. All firms were publicly named. Many more are likely at risk as the financial regulatory consulting firm Bovill recently reported that as many as one-quarter of firms have submitted inaccurate reports to the regulator via their portal, Market Data Processor (MDP).
In the past few years, there has been a significant rise in the awareness of mental health and its impact in the workplace. A number of high-profile campaigns have been launched encouraging employees to talk more about their mental health and reducing the stigma of doing so. Yet research published in May 2019 shows that only one-third of workers felt confident talking about common mental health issues such as stress and depression.
When you're heading in for that interview with a megabank or a big accounting firm, you're going to need to get the very best from yourself. Some of that will be about the things you do in your head, but the way you come across is one of the keys to a successful interview in the finance industry. Can they be confident to hand the billion-pound account over to you? Are you slick enough to speak with top clients, and present facts and figures with a degree of charm and precision all at once? Here are Bernardo Moya’s 10 winning tips and techniques on how to shine at job interviews.
Banks are increasingly behaving like FinTechs, and some have even started partnering with them. The digital transformation, in which FinTechs have played a prominent role, has brought with it new cognitive technologies and macro forces such as blockchain and the digital experience, which are continuously shaping all areas of banking.
CFOs of European firms are unanimously convinced that artificial intelligence (AI) has the potential to have a strong impact on the financial department. But when it comes to implementing this technology, they are significantly lagging behind their American counterparts. In fact, many American firms are already comprehensively using data analysis and machine learning to guide and support their strategic decisions. However, this isn’t necessarily the case in Europe, says Kristof Stouthuysen.
It is widely recognised that digitalisation of the surety product is lagging behind and all those involved in the surety process are understandably calling for usable technology that will improve its value proposal. Any technology developments should take into account the capabilities of those working with surety and bonding products to deliver innovative process improvements and their commitment to investing in customer satisfaction.
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